Chapter 1 Analyzing texts
1.1 Measuring and using frequencies
Now that we know how to read text into R, convert it to numeric data and a few techniques to reduce the noise in the numerical data, we now can start examining the data. We will first focus on what we can do on individual documents by using frequencies, then discuss other methods such as dictionary analysis, supevised machine learning, and unsupervised topic modeling.
Lets start by reading the data and getting it ready to analyze.
library(tidyverse)
library(quanteda)
library(quanteda.textstats)
library(here)
library(ggrepel)
eu_speech<-readRDS(file = here("euspeech","speech_data","EU_speech.RDS"))
eu_speech_dfm<- eu_speech %>%
rownames_to_column(var = "doc_id") %>%
select(texts:speaker,doc_id,-title) %>%
corpus(docid_field = "doc_id", text_field = "texts") %>%
corpus_subset(speaker == "IMF") %>%
tokens() %>%
tokens_select(pattern = stopwords(language = "en"),selection = "remove",valuetype = "fixed") %>%
tokens_select(pattern = "[[:alnum:]]", selection = "keep", valuetype = "regex") %>%
tokens_wordstem(language = "en") %>%
dfm()One thing we can do is to take a look at most frequent words used by speakers. This would give us a feeling about what they tend to focus in speeches.
eu_speech_frequencies<- eu_speech_dfm %>%
textstat_frequency(n = 10,groups = speaker) %>%
filter(group == "IMF")
eu_speech_frequencies %>%
ggplot(aes(x=reorder(feature,frequency),y = frequency))+
geom_bar(aes(fill = frequency),stat = "identity", position = "dodge")+
coord_flip()+
theme_bw()+
labs(title = "10 most features in speeches by IMF speaker", x = "features")
At a quick glance, it seems IMF speakers mainly talk about financial policies, global economy and its growth. While looking at frequencies may be informative first step, this is not really useful by itself. We can in addition look at keywords in context (KWIC), to get a better feeling of in what context these words were used.
library(kableExtra)##
## Attaching package: 'kableExtra'## The following object is masked from 'package:dplyr':
##
## group_rowsimf_speech_keywords<- eu_speech_frequencies %>% pull(feature)
imf_speech_kwic<- eu_speech %>%
corpus(docid_field = "doc_id", text_field = "texts") %>%
corpus_subset(speaker == "IMF") %>%
tokens() %>%
kwic(x = .,pattern = imf_speech_keywords,window = 5,valuetype = "fixed")
imf_speech_kwic %>%
as.data.frame() %>%
select(pattern,pre,keyword,post) %>%
kbl() %>%
kable_styling(full_width = T, html_font = "Cambria") %>%
scroll_box(width = "500px", height = "200px")| pattern | pre | keyword | post |
|---|---|---|---|
| market | import confer build region capit | market | greater mekong subregion would like |
| countri | discuss dynam region whose divers | countri | link great river common aspir |
| global | aspir desir find right place | global | economi improv live standard spirit |
| economi | desir find right place global | economi | improv live standard spirit cooper |
| econom | standard spirit cooper harmoni asia | econom | potenti greater mekong region undeni |
| econom | popul grow middl class fuel | econom | dynam region financi sector shown |
| growth | financi sector shown underwrit strong | growth | without jeopard stabil reflect lesson |
| growth | make tough choic support sustain | growth | financi stabil let set stage |
| polici | challeng risk financi develop integr | polici | ensur success global region econom |
| global | develop integr polici ensur success | global | region econom settinglet begin econom |
| econom | polici ensur success global region | econom | settinglet begin econom outlook fulli |
| econom | global region econom settinglet begin | econom | outlook fulli awar world growth |
| growth | econom outlook fulli awar world | growth | slow recent includ asia imf |
| global | recent includ asia imf project | global | economi grow percent asia expect |
| economi | includ asia imf project global | economi | grow percent asia expect expand |
| economi | stage kept pace integr real | economi | perhap inevit region natur tend |
| econom | inevit region natur tend integr | econom | due inform transport cultur trade |
| polici | moreov southeast asia integr common | polici | goal impress see rapid rise |
| global | rapid rise asian suppli chain | global | forc trend place premium financi |
| growth | financi integr provid new sourc | growth | countri differ stage develop face |
| countri | integr provid new sourc growth | countri | differ stage develop face divers |
| countri | financi integr across wide rang | countri | help countri insur mani challeng |
| countri | across wide rang countri help | countri | insur mani challeng ahead challeng |
| need | evolv save pool larg invest | need | pose challeng financi develop deeper |
| need | develop deeper financi integr invest | need | busi inevit exceed compani resourc |
| also | domin asian financi system may | also | insuffici compani need issu equiti |
| need | system may also insuffici compani | need | issu equiti bond mean larger |
| market | mean larger stabl liquid capit | market | turn mean look beyond nation |
| global | border tap capit avail asia | global | market new urban resid grow |
| market | tap capit avail asia global | market | new urban resid grow middl |
| also | urban resid grow middl class | also | need divers sophist financi product |
| need | resid grow middl class also | need | divers sophist financi product want |
| also | product want purchas hous car | also | save futur equiti mutual fund |
| countri | invest product product necessarili sourc | countri | greater avail credit help reduc |
| financ | benefit macroeconom stabil wider access | financ | also could help creat opportun |
| also | macroeconom stabil wider access financ | also | could help creat opportun poor |
| growth | govern effort build foundat futur | growth | particular infrastructur develop local pool |
| need | may suffici fund invest scale | need | addit channel fund longterm invest |
| economi | difficult task particular emerg develop | economi | mani reason investor time horizon |
| global | integr capit flow larg volatil | global | credit cycl might fit countri |
| countri | global credit cycl might fit | countri | need time integr tend make |
| need | credit cycl might fit countri | need | time integr tend make financi |
| market | time integr tend make financi | market | move close togeth across countri |
| countri | market move close togeth across | countri | learn recent year open countri |
| countri | countri learn recent year open | countri | greater potenti risk benefit saw |
| global | risk benefit saw factor play | global | financi crisi mani case financi |
| polici | risk allow offer three broad | polici | suggest first foremost build strong |
| polici | strong framework macroeconom financi sector | polici | cours includ macroeconom anchor independ |
| polici | anchor independ central bank fiscal | polici | oper countercycl limit public debt |
| growth | import strong regul supervis rapid | growth | evolv financi integr make critic |
| countri | capit flow caus second point | countri | need strong macroprudenti polici framework |
| need | flow caus second point countri | need | strong macroprudenti polici framework countercycl |
| polici | point countri need strong macroprudenti | polici | framework countercycl macroprudenti polici reduc |
| polici | macroprudenti polici framework countercycl macroprudenti | polici | reduc buildup financi risk good |
| growth | fallout capit flow revers credit | growth | slow asset price fall third |
| need | cooper region level essenti inform | need | share open rapid countri regul |
| countri | inform need share open rapid | countri | regul harmon much possibl help |
| countri | level play field across sector | countri | reduc opportun regulatori arbitrag lower |
| global | advanc agenda region integr light | global | experi d like stop point |
| econom | central banker import contribut made | econom | resili sustain prosper asia know |
| global | know much mind time uneas | global | economi someth focus imf annual |
| economi | much mind time uneas global | economi | someth focus imf annual meet |
| polici | attend meet know central theme | polici | need counter uncertainti told lima |
| need | meet know central theme polici | need | counter uncertainti told lima much |
| global | mind would like explor outlook | global | economi asia offer overview risk |
| economi | would like explor outlook global | economi | asia offer overview risk temper |
| economi | temper forecast first foremost largest | economi | region china slow rebalanc time |
| global | time led spillov rest asia | global | trade challeng eman outsid region |
| polici | particular impend normal u monetari | polici | drop potenti growth advanc emerg |
| growth | u monetari polici drop potenti | growth | advanc emerg economi potenti spillov |
| economi | drop potenti growth advanc emerg | economi | potenti spillov affect economi would |
| economi | emerg economi potenti spillov affect | economi | would like highlight today togeth |
| global | today togeth explain optim caution | global | outlooklet begin global outlook imf |
| global | optim caution global outlooklet begin | global | outlook imf project growth percent |
| growth | begin global outlook imf project | growth | percent year percent rise next |
| growth | year percent rise next year | growth | would fastest sinc forecast slight |
| market | reduct shift trend advanc emerg | market | countri sever advanc economi strengthen |
| countri | shift trend advanc emerg market | countri | sever advanc economi strengthen although |
| economi | emerg market countri sever advanc | economi | strengthen although slight slower rate |
| growth | slight slower rate foresaw juli | growth | percent year percent need upgrad |
| need | juli growth percent year percent | need | upgrad polici take growth higher |
| polici | percent year percent need upgrad | polici | take growth higher durabl level |
| growth | percent need upgrad polici take | growth | higher durabl level time well |
| growth | level time well awar deceler | growth | emerg market relat develop countri |
| market | well awar deceler growth emerg | market | relat develop countri fifth straight |
| countri | growth emerg market relat develop | countri | fifth straight year declin growth |
| growth | countri fifth straight year declin | growth | emerg market project percent growth |
| market | straight year declin growth emerg | market | project percent growth year group |
| growth | growth emerg market project percent | growth | year group percent percent last |
| countri | last year bit earlier forecast | countri | shown greater resili need take |
| need | forecast countri shown greater resili | need | take polici step strengthen growth |
| polici | shown greater resili need take | polici | step strengthen growth nonetheless cannot |
| growth | need take polici step strengthen | growth | nonetheless cannot lose sight fact |
| market | cannot lose sight fact emerg | market | group still grow quit fast |
| economi | base metal said forget mani | economi | benefit lower price still commod |
| global | price still commod whole stori | global | industri product weaken first half |
| economi | consist uneven strength demand major | economi | world trade also slow invest |
| also | demand major economi world trade | also | slow invest weak worldwid someth |
| global | weak caution risk uncertainti face | global | economi becom tangibl element slowdown |
| economi | caution risk uncertainti face global | economi | becom tangibl element slowdown concern |
| economi | price futur demand advanc emerg | economi | play part busi decis lower |
| growth | busi decis lower expect futur | growth | turn dampen demand invest point |
| global | emerg asia remain fastestgrow region | global | economi must maintain sens perspect |
| economi | asia remain fastestgrow region global | economi | must maintain sens perspect current |
| growth | sens perspect current trend deceler | growth | among emerg market economi certain |
| market | trend deceler growth among emerg | market | economi certain affect region still |
| economi | deceler growth among emerg market | economi | certain affect region still see |
| market | reflect region relat strong labor | market | dispos incom growth especi southeast |
| growth | strong labor market dispos incom | growth | especi southeast asia asia perform |
| growth | impress take account renew slow | growth | japan import china continu deceler |
| growth | china continu deceler era highveloc | growth | china slower growth one import |
| growth | era highveloc growth china slower | growth | one import transit influenc world |
| economi | one import transit influenc world | economi | exportl growth model increas driven |
| growth | transit influenc world economi exportl | growth | model increas driven domest consumpt |
| economi | essenti transit creat inclus marketdriven | economi | produc safer sustain growth market |
| growth | marketdriven economi produc safer sustain | growth | market concern china prospect growth |
| market | economi produc safer sustain growth | market | concern china prospect growth countri |
| growth | growth market concern china prospect | growth | countri remain robust standard except |
| countri | market concern china prospect growth | countri | remain robust standard except past |
| countri | asia spillov transit could affect | countri | market busi communiti anoth risk |
| market | spillov transit could affect countri | market | busi communiti anoth risk could |
| global | dollar strength accompani sudden tighten | global | financi condit said earlier play |
| polici | uncertain outlook increas mood caution | polici | actionsso polici need counter uncertainti |
| polici | increas mood caution polici actionsso | polici | need counter uncertainti region continu |
| need | mood caution polici actionsso polici | need | counter uncertainti region continu build |
| market | saw impact interest rate worri | market | lesser extent various subsequ point |
| need | intent minim new shock second | need | continu prepar unexpect particular capit |
| growth | one percentag point slowdown chines | growth | associ percentag point declin asian |
| countri | associ percentag point declin asian | countri | recent shift renminbi regim also |
| also | countri recent shift renminbi regim | also | rippl effect magnifi fall commod |
| market | uncertainti magnitud spillov china took | market | busi polici maker surpris episod |
| polici | spillov china took market busi | polici | maker surpris episod pass come |
| econom | next session address question enhanc | econom | resili give exampl corpor leverag |
| also | enhanc monitor corpor sector would | also | use meanwhil crucial chines author |
| market | effort communic intent help guid | market | expect effect communic reduc uncertainti |
| growth | communic reduc uncertainti see affect | growth | expect conclusionto conclud need clear |
| need | affect growth expect conclusionto conclud | need | clear understand challeng ahead seacen |
| global | tri bring process perspect issu | global | granular could shed light appropri |
| polici | granular could shed light appropri | polici | offer toolkit analyt technic assist |
| financ | offer toolkit analyt technic assist | financ | assist defin appropri adjust macroeconom |
| financ | alkhyr welcom import confer islam | financ | let start thank central bank |
| financ | relentless effort enthusiasm promot islam | financ | would also like thank middl |
| also | enthusiasm promot islam financ would | also | like thank middl east center |
| econom | like thank middl east center | econom | financ coorgan today event pleasur |
| financ | thank middl east center econom | financ | coorgan today event pleasur back |
| financ | see gather today discuss islam | financ | great day ahead us promis |
| financ | collabor innov develop promis islam | financ | sound sustain way manag risk |
| financ | gateway action help lift islam | financ | full potenti would like touch |
| need | deliber today discuss ongo challeng | need | tackl unlock promis islam financ |
| financ | need tackl unlock promis islam | financ | recal promis islam financ hold |
| financ | islam financ recal promis islam | financ | hold foster inclus growth support |
| growth | islam financ hold foster inclus | growth | support livelihood aspir peopl region |
| growth | inclus key promot invigor reinforc | growth | share prosper promis islam financ |
| financ | growth share prosper promis islam | financ | holdsso let turn promis islam |
| financ | holdsso let turn promis islam | financ | hold islam financ new practic |
| financ | promis islam financ hold islam | financ | new practic centuri around world |
| financ | gain popular late total islam | financ | asset estim around trillion practic |
| growth | tenfold increas decad ago outperform | growth | convent financ mani place easi |
| financ | decad ago outperform growth convent | financ | mani place easi see appeal |
| financ | place easi see appeal islam | financ | two first inclus islam financ |
| financ | financ two first inclus islam | financ | potenti contribut higher inclus econom |
| econom | financ potenti contribut higher inclus | econom | growth increas access bank servic |
| growth | potenti contribut higher inclus econom | growth | increas access bank servic underserv |
| market | larg segment muslim popul primari | market | islam financ around world remain |
| financ | muslim popul primari market islam | financ | around world remain financi underserv |
| financ | access bank account addit islam | financ | riskshar featur strong link credit |
| financ | small mediums enterpris sme startup | financ | know promot inclus growth reason |
| growth | startup financ know promot inclus | growth | reason islam financ shown valu |
| financ | promot inclus growth reason islam | financ | shown valu infrastructur invest spark |
| growth | product gain catalyz high valuead | growth | second stabil islam financ principl |
| financ | valuead growth second stabil islam | financ | principl potenti promot financi stabil |
| financ | stabil riskshar featur reduc leverag | financ | assetback thus fulli collater addit |
| global | capit one key object new | global | regulatori reform think also fair |
| also | new global regulatori reform think | also | fair say islam financ underpin |
| financ | think also fair say islam | financ | underpin principl promot particip equiti |
| financ | go fulfil maximum potenti islam | financ | today repres less percent global |
| global | financ today repres less percent | global | financi asset still much concentr |
| market | financi asset still much concentr | market | clear room grow especi given |
| financ | much wider group cours islam | financ | expand take greater import countri |
| countri | financ expand take greater import | countri | financi system import nurtur develop |
| also | nurtur develop safe sound manner | also | number import polici issu need |
| polici | sound manner also number import | polici | issu need tackl reap full |
| need | also number import polici issu | need | tackl reap full benefit let |
| financ | requir unlock full potenti islam | financ | effect prudent way see sever |
| financ | field creat enabl environ islam | financ | develop mind risk mean adapt |
| financ | take account defin featur islam | financ | disadvantag islam bank exampl capit |
| financ | requir bank adapt account islam | financ | riskandprofit share model allow lossbear |
| financ | reduc risk weight appli equitylik | financ | level play field also mean |
| also | equitylik financ level play field | also | mean harmon tax treatment islam |
| financ | mean harmon tax treatment islam | financ | product similar convent contract incom |
| financ | expens debt bias put islam | financ | competit disadvantag discourag riskshar financ |
| financ | financ competit disadvantag discourag riskshar | financ | countri alreadi remedi disadvantag exist |
| countri | competit disadvantag discourag riskshar financ | countri | alreadi remedi disadvantag exist tax |
| also | other still review tax legisl | also | need greater consist applic regul |
| need | still review tax legisl also | need | greater consist applic regul supervis |
| global | financi standard setter bode well | global | financi stabil need done enforc |
| need | bode well global financi stabil | need | done enforc rule imf surveil |
| countri | current standard appli consist across | countri | could stifl develop islam financ |
| financ | countri could stifl develop islam | financ | encourag growth manner creat system |
| growth | stifl develop islam financ encourag | growth | manner creat system vulner look |
| global | view implement necessari chang nation | global | level b develop industri market |
| market | global level b develop industri | market | second prioriti policymak develop industri |
| market | second prioriti policymak develop industri | market | mean mani countri could encourag |
| countri | develop industri market mean mani | countri | could encourag improv islam bank |
| financ | encourag improv islam bank boost | financ | small mediums enterpris instanc inform |
| need | enterpris instanc inform creditworthi smes | need | strengthen includ collater avail effort |
| need | strengthen includ collater avail effort | need | train wellqualifi staff help meet |
| financ | help meet high demand islam | financ | product islam bank need bolster |
| need | islam financ product islam bank | need | bolster risk manag capac sme |
| also | lend initi led industri other | also | need play role regul ensur |
| need | initi led industri other also | need | play role regul ensur adequ |
| financ | bank partner islam bank sme | financ | capac build govern foster financi |
| countri | literaci addit strengthen industri mani | countri | could develop islam financi market |
| market | countri could develop islam financi | market | think growth potenti sukuk past |
| growth | develop islam financi market think | growth | potenti sukuk past decad total |
| countri | unit kingdom among grow number | countri | issu sukuk bond recent year |
| market | recent year challeng policymak help | market | reach full potenti exampl regular |
| need | potenti exampl regular sovereign issuanc | need | differ matur help establish benchmark |
| market | help establish benchmark develop secondari | market | sovereign sukuk plan need embed |
| need | secondari market sovereign sukuk plan | need | embed govern debt manag strategi |
| market | embed govern debt manag strategi | market | need support strong legal regulatori |
| need | govern debt manag strategi market | need | support strong legal regulatori framework |
| countri | persist uncertainti investor right mani | countri | also need develop money interbank |
| also | uncertainti investor right mani countri | also | need develop money interbank market |
| need | investor right mani countri also | need | develop money interbank market shari |
| market | also need develop money interbank | market | shari ahcompli instrument help islam |
| need | help islam bank manag liquid | need | effect underdevelop market forc islam |
| market | manag liquid need effect underdevelop | market | forc islam bank hold excess |
| also | bank hold excess liquid buffer | also | limit central bank conduct monetari |
| polici | limit central bank conduct monetari | polici | particular countri larg islam bank |
| countri | bank conduct monetari polici particular | countri | larg islam bank system would |
| need | ensur financi stabil alreadi stress | need | greater intern consist applic regulatori |
| financ | manag specif risk associ islam | financ | prevent regulatori arbitrag time ensur |
| financ | liquid requir adapt featur islam | financ | key transit may easi islam |
| market | seen opportun develop new instrument | market | need complet ensur resili nation |
| need | opportun develop new instrument market | need | complet ensur resili nation bank |
| financ | nation bank system alreadi islam | financ | consid system import countri account |
| countri | islam financ consid system import | countri | account percent total financi asset |
| need | respons part islam bank grow | need | oversight financi safeti net includ |
| also | includ deposit insur lenderoflastresort facil | also | need evolv take account specif |
| need | deposit insur lenderoflastresort facil also | need | evolv take account specif featur |
| financ | take account specif featur islam | financ | without upgrad countri may tool |
| countri | featur islam financ without upgrad | countri | may tool adequ respond shock |
| also | convent bank system imf perspect | also | look rais game know financi |
| financ | analyt work deepen understand islam | financ | implic financi stabil econom growth |
| econom | islam financ implic financi stabil | econom | growth keen pursu agenda strengthen |
| growth | financ implic financi stabil econom | growth | keen pursu agenda strengthen polici |
| polici | growth keen pursu agenda strengthen | polici | advic incorpor best practic islam |
| financ | incorpor best practic islam bank | financ | surveil work conclusionso let conclud |
| financ | recogn unlock true potenti islam | financ | requir strong leadership also requir |
| also | islam financ requir strong leadership | also | requir strong cooper among stakehold |
| countri | continu work bilater basi member | countri | provid technic assist area islam |
| market | bank regul supervis develop sukuk | market | monetari polici implement countri larg |
| polici | supervis develop sukuk market monetari | polici | implement countri larg islam financ |
| countri | sukuk market monetari polici implement | countri | larg islam financ presenc also |
| financ | polici implement countri larg islam | financ | presenc also aim cover islam |
| also | countri larg islam financ presenc | also | aim cover islam financ systemat |
| financ | presenc also aim cover islam | financ | systemat bilater surveil countri import |
| countri | islam financ systemat bilater surveil | countri | import time benefit great guidanc |
| financ | benefit great guidanc major islam | financ | standardsett multilater institut analyt polici |
| polici | financ standardsett multilater institut analyt | polici | work islam financ form extern |
| financ | institut analyt polici work islam | financ | form extern advisori group work |
| also | group work area high valu | also | pleas islam develop bank imf |
| financ | partnership support capac develop islam | financ | cooper alreadi quit success yield |
| financ | togeth foster stcenturi version islam | financ | deliv promis promot financi inclus |
| need | promot financi inclus stabil meet | need | financi underserv popul lift potenti |
| growth | financi underserv popul lift potenti | growth | creat better opportun peopl thank |
| also | dudley thank generous introduct would | also | like thank staff new york |
| financ | share object fed theme ethic | financ | one push time goal reviv |
| econom | wealth sharehold enrich societi support | econom | activ creat valu job ultim |
| economi | industri wield immens power societi | economi | peopl power come respons uphold |
| financ | mention go promot ethic behavior | financ | clear regul robust govern structur |
| global | intern communiti endors appropri ambiti | global | financi reform agenda effort imf |
| global | reduc excess risktak subject octob | global | financi stabil report seen encourag |
| financ | pillar framework instil ethic behavior | financ | individu third pillar without equilibrium |
| need | put peopl profit societi sharehold | need | see chang valu behavior individu |
| need | see chang valu behavior individu | need | cultur hold individu account consequ |
| market | relev first instanc ruthless natur | market | structur former imf colleagu georg |
| market | argu recent book phish phool | market | pretti ruthless exploit weak human |
| financ | ruthless exploit weak human psycholog | financ | except fact author offer compel |
| polici | chang busi model establish new | polici | actual made decis individu bring |
| global | year averag net incom group | global | system import bank fact sanction |
| global | call adequ provis think larg | global | bank recent announc higherthanexpect third |
| also | could addit face profession disbarmentther | also | shift polici u depart justic |
| polici | face profession disbarmentther also shift | polici | u depart justic allow forc |
| also | account confin crimin liabil appropri | also | includ civil penalti well administr |
| need | promot individu virtu integrityin essenc | need | cultur greater virtu integr individu |
| also | chang cultur long term process | also | one activ manag like busi |
| countri | import april year pledg extend | countri | banker promot individu integr crucial |
| need | hold industri level howev stakehold | need | step collect respons effect cultur |
| need | standard larg bank still work | need | intern negat consequ excess risk |
| need | lesson easi exampl word board | need | set right tone top need |
| need | need set right tone top | need | promot zero toler toward uneth |
| also | behavior board member senior manag | also | primari actor identifi chang busi |
| global | industri aim higher would suggest | global | financi industri lead exampl develop |
| also | cooper across jurisdict well code | also | encourag recruit career progress practic |
| also | civil societi third group actor | also | import role play educ ethic |
| also | individu educ valu respect rule | also | seek pursu public good individu |
| also | action presid dudley previous note | also | call nurtur individu proud profess |
| also | communiti prais promot virtuous behavior | also | help push forward uphold chang |
| financ | communiti begun respond issu ethic | financ | still swifter action need restor |
| need | ethic financ still swifter action | need | restor trust financi sector public |
| need | restor trust financi sector public | need | reassur misconduct issu caus failur |
| market | misconduct issu caus failur institut | market | past year dealt part imf |
| financ | includ incipi research agenda ethic | financ | also leverag conven power fund |
| also | incipi research agenda ethic financ | also | leverag conven power fund shed |
| financ | understand instil ethic behavior level | financ | start argu appropri regulatori govern |
| also | ethic behavior individu yet opposit | also | true without individu integr even |
| countri | oxford year ago today work | countri | nation chapter includ oxfam america |
| also | area deserv attract attent imf | also | intensifi focus macrocrit dimens inequ |
| polici | excess incom inequ sound social | polici | sound econom polici well fund |
| econom | inequ sound social polici sound | econom | polici well fund research confirm |
| polici | sound social polici sound econom | polici | well fund research confirm growth |
| growth | polici well fund research confirm | growth | inclus reinforc recent research demonstr |
| growth | incom share poorest percent lift | growth | percentag point follow year convers |
| growth | work opposit direct actual harm | growth | percentag point follow year ampl |
| economi | year ampl evid inclus good | economi | true incom also true gender |
| also | inclus good economi true incom | also | true gender recent paper focus |
| also | inequ matter empow women fair | also | macroeconom benefit exampl elimin employ |
| growth | goe step gender inclus support | growth | also reduc incom inequ paper |
| also | step gender inclus support growth | also | reduc incom inequ paper use |
| market | index encompass gender inequ labor | market | outcom opportun studi link two |
| countri | studi link two phenomena almost | countri | two decad paper key find |
| countri | differ europ least inclus inclus | countri | give tackl gender inequ reduc |
| growth | reduc excess inequ conduc sustain | growth | need ask dimens gender inequ |
| need | excess inequ conduc sustain growth | need | ask dimens gender inequ lead |
| polici | inequ lead incom inequ channel | polici | polici tackl gender inequalityth new |
| polici | lead incom inequ channel polici | polici | tackl gender inequalityth new paper |
| countri | forc particip educ differ across | countri | emerg market low incom countri |
| market | educ differ across countri emerg | market | low incom countri paper find |
| countri | countri emerg market low incom | countri | paper find inequ opportun women |
| polici | women import driver incom inequ | polici | expand opportun includ invest health |
| financ | percentag point improv access infrastructur | financ | mani low incom countri microfin |
| countri | infrastructur financ mani low incom | countri | microfin help reduc gender product |
| countri | demonstr peru namibia instanc advanc | countri | women tend greater opportun inequ |
| econom | women tend greater opportun inequ | econom | particip contribut signific incom inequ |
| polici | particip contribut signific incom inequ | polici | close gap includ introduc paid |
| market | increas number young mother labor | market | percent certain taken budget consider |
| market | million japanes women join job | market | rais women pay current women |
| econom | sum creat opportun women promot | econom | particip policymak also tackl incom |
| also | women promot econom particip policymak | also | tackl incom inequ pleas work |
| econom | african depart releas latest region | econom | outlook chapter impact incom gender |
| growth | chapter impact incom gender inequ | growth | region conclusionto close oxfam cofound |
| need | cofound cecil jacksoncol said world | need | must go today need sustain |
| need | world need must go today | need | sustain growth stabil achiev must |
| growth | must go today need sustain | growth | stabil achiev must go strengthen |
| global | thank caus consequ incom inequ | global | perspect era dabla norri kalpana |
| also | meet almost year long time | also | mean peru longer proverbi countri |
| countri | also mean peru longer proverbi | countri | futur countri present one fastestgrow |
| countri | peru longer proverbi countri futur | countri | present one fastestgrow economi latin |
| economi | futur countri present one fastestgrow | economi | latin america last year peru |
| global | big new challeng constraint uncertainti | global | economi mind policymak countri includ |
| economi | new challeng constraint uncertainti global | economi | mind policymak countri includ peru |
| countri | uncertainti global economi mind policymak | countri | includ peru longer econom crisi |
| econom | policymak countri includ peru longer | econom | crisi time chang old paradigm |
| econom | old paradigm longer hold new | econom | relationship emerg mean also time |
| also | new econom relationship emerg mean | also | time opportun action someon captur |
| global | time let us examin chang | global | landscap latin america imf transit |
| global | transit adjust new challeng chang | global | landscapefirst global landscap current see |
| global | new challeng chang global landscapefirst | global | landscap current see uncertainti transit |
| global | uncertainti transit balanc act uncertainti | global | growth like weaker year last |
| growth | transit balanc act uncertainti global | growth | like weaker year last percent |
| need | modest acceler percent much lower | need | make deep inroad unemploy poverti |
| growth | transit includ china shift new | growth | model expect shift u monetari |
| polici | model expect shift u monetari | polici | transit necessari healthi impact countri |
| countri | polici transit necessari healthi impact | countri | across globe trade exchang rate |
| market | globe trade exchang rate asset | market | capit flow call spillov emerg |
| market | capit flow call spillov emerg | market | lowincom countri heavili depend commod |
| countri | call spillov emerg market lowincom | countri | heavili depend commod revenu particular |
| polici | daunt believ manag right mix | polici | support demand strengthen financi stabil |
| polici | may enough meet call specif | polici | upgrad instanc central bank advanc |
| economi | upgrad instanc central bank advanc | economi | give due consider risk spillov |
| polici | give due consider risk spillov | polici | decis emerg economi firm address |
| economi | risk spillov polici decis emerg | economi | firm address buildup corpor leverag |
| global | tpp agreement restart stall engin | global | trade upgrad make global economi |
| global | engin global trade upgrad make | global | economi resili increas uncertainti face |
| economi | global trade upgrad make global | economi | resili increas uncertainti face even |
| polici | uncertainti face even focus shortterm | polici | measur need mind broader chang |
| need | even focus shortterm polici measur | need | mind broader chang global landscap |
| global | measur need mind broader chang | global | landscap let use analog seen |
| also | screen deepli ingrain peruvian cultur | also | symbol annual meet likewis must |
| global | must take wide perspect understand | global | nazca line shape econom futur |
| econom | understand global nazca line shape | econom | futur thus destini billion peopl |
| countri | worldwid obvious one climat chang | countri | need integr implic macroeconom framework |
| need | obvious one climat chang countri | need | integr implic macroeconom framework energi |
| global | energi price key imf project | global | energi subsidi trillion percent gdp |
| need | trillion percent gdp stagger number | need | come year come get right |
| need | come year come get right | need | price right time elimin subsidi |
| need | nazca line mind today migrat | need | action resolv heartbreak plight refuge |
| countri | resolv heartbreak plight refuge wartorn | countri | applaud demonstr leadership issu ground |
| econom | night help imf play part | econom | analysi issu origin receiv nation |
| countri | nation well fiscal support member | countri | face pressur alreadi done instanc |
| economi | work shrink workingag popul advanc | economi | especi europ may need attract |
| need | advanc economi especi europ may | need | attract foreign talent replenish reservoir |
| economi | rapid grow one thing clear | economi | need adapt major factor help |
| need | grow one thing clear economi | need | adapt major factor help research |
| economi | recent affirm empow women particip | economi | whether mitig effect shrink work |
| countri | job start small midsiz enterpris | countri | afford disregard contribut women make |
| economi | afford disregard contribut women make | economi | close gender gap global econom |
| global | make economi close gender gap | global | econom gamechang major issu shape |
| econom | economi close gender gap global | econom | gamechang major issu shape futur |
| economi | personifi mani dynam role emerg | economi | countri help pull global economi |
| countri | mani dynam role emerg economi | countri | help pull global economi back |
| global | emerg economi countri help pull | global | economi back brink anoth great |
| economi | economi countri help pull global | economi | back brink anoth great depress |
| global | year ago account almost percent | global | growth past five year generat |
| growth | ago account almost percent global | growth | past five year generat half |
| global | past five year generat half | global | output grumpiest pessimist would bet |
| market | would bet longterm success emerg | market | yet emerg market recogn brave |
| market | success emerg market yet emerg | market | recogn brave wind uncertainti spillov |
| econom | fuego see region incred divers | econom | polit cultur inde embodi divers |
| market | cultur inde embodi divers emerg | market | univers mani way outgrown onesizefitsal |
| also | outgrown onesizefitsal label latin america | also | symbol shift seen mani emerg |
| market | symbol shift seen mani emerg | market | past two decad one adopt |
| polici | two decad one adopt robust | polici | framework allow mani countri fulli |
| countri | robust polici framework allow mani | countri | fulli benefit rise commod price |
| global | price boom intern trade favor | global | financi condit second shift came |
| global | financi condit second shift came | global | financi crisi policymak respond bold |
| countri | right thing right time result | countri | saw strong growth low inflat |
| growth | time result countri saw strong | growth | low inflat also tangibl social |
| also | saw strong growth low inflat | also | tangibl social progress incom inequ |
| market | challeng good news like emerg | market | latin america general better prepar |
| countri | chang wind past notsogood news | countri | concern region capac buffer shock |
| polici | rate volatil capit flow confid | polici | policymak vital countri prioriti strengthen |
| countri | flow confid polici policymak vital | countri | prioriti strengthen polici framework know |
| polici | policymak vital countri prioriti strengthen | polici | framework know put test mean |
| polici | put test mean use fiscal | polici | respons put rise public debt |
| polici | sustain path mean use monetari | polici | wise shrink larg current account |
| polici | deficit may enough spoke earlier | polici | upgrad address buildup leverag foreign |
| countri | downsid risk strengthen financi stabil | countri | region also need press ahead |
| also | strengthen financi stabil countri region | also | need press ahead structur reform |
| need | financi stabil countri region also | need | press ahead structur reform diversifi |
| economi | press ahead structur reform diversifi | economi | boost growth unlock full potenti |
| growth | structur reform diversifi economi boost | growth | unlock full potenti peopl done |
| polici | reduc excess inequ sound social | polici | sound econom polici well research |
| econom | inequ sound social polici sound | econom | polici well research show one |
| polici | sound social polici sound econom | polici | well research show one percentag |
| growth | incom share poorest percent lift | growth | percentag point let emphas particular |
| need | region futur generat often howev | need | affect communiti cultur digniti neglect |
| countri | student essay competit mauricio wrote | countri | reson entir region see countri |
| countri | countri reson entir region see | countri | interconnect outstand ground transport system |
| countri | develop see grow peru see | countri | unifi connect latin america face |
| global | hacer chang imfi talk new | global | landscap chang wind felt across |
| econom | thing clear natur challeng face | econom | spillov climat chang countri go |
| countri | face econom spillov climat chang | countri | go alon cooper key call |
| need | stronger fund even better address | need | member countri vision rest three |
| countri | even better address need member | countri | vision rest three object agil |
| countri | fund move swift provid ebolaaffect | countri | debt relief financi support worth |
| countri | provid cash bank quick help | countri | fight devast diseas anoth exampl |
| also | access concession loan facil percent | also | maintain zero interest rate countri |
| countri | also maintain zero interest rate | countri | face major shock disast take |
| also | exampl mexico brazil canada begin | also | work nazca line shape global |
| global | also work nazca line shape | global | destini commit stronger emphasi financi |
| countri | six month alon provid support | countri | deliv train technic assist even |
| also | increas scope reach onlin tool | also | place increas emphasi servic lowincom |
| growth | import tackl poverti drive sustain | growth | strengthen knowledg manag make best |
| also | readi even better governor let | also | pay tribut repres fund execut |
| countri | bring bear collect wisdom member | countri | run institut togeth work togeth |
| global | challeng world inde concern state | global | affair refuge influx europ latest |
| econom | europ latest symptom sharp polit | econom | tension north africa middl east |
| economi | crisi captur media attent advanc | economi | mean isol event conflict rage |
| also | displac peopl worldwid let us | also | forget year cours hottest year |
| econom | o spawn weatherrel calam pacif | econom | front also reason concern prospect |
| also | weatherrel calam pacif econom front | also | reason concern prospect rise interest |
| market | china slowdown contribut uncertainti higher | market | volatil sharp deceler growth global |
| growth | higher market volatil sharp deceler | growth | global trade rapid drop commod |
| global | market volatil sharp deceler growth | global | trade rapid drop commod price |
| economi | commod price pose problem resourcebas | economi | besid heartbreak suffer conflict forc |
| econom | conflict forc migrat human toll | econom | disloc low activ million peopl |
| market | women continu disadvantag pay labor | market | opportun could much wors cours |
| countri | throughout period exampl think mani | countri | latin america past two decad |
| econom | america past two decad transform | econom | social bring better life million |
| econom | process tangibl progress africa asia | econom | weight continu grow tremend recent |
| econom | confus concern ask time current | econom | develop cyclic structur someth fundament |
| polici | key messag today howev right | polici | strong leadership global cooper manag |
| global | howev right polici strong leadership | global | cooper manag think past challeng |
| countri | system problem confront newli independ | countri | former soviet union today world |
| economi | back policymak manag lead world | economi | back calmer water must today |
| global | stand let us start state | global | economi focus transit issu under |
| economi | let us start state global | economi | focus transit issu under state |
| global | focus transit issu under state | global | economyour world econom outlook number |
| econom | under state global economyour world | econom | outlook number releas next week |
| global | releas next week alreadi tell | global | growth like weaker year last |
| growth | next week alreadi tell global | growth | like weaker year last modest |
| economi | news see modest pickup advanc | economi | moder recoveri strengthen euro area |
| growth | euro area japan return posit | growth | activ remain robust us uk |
| economi | uk well notsogood news emerg | economi | like see fifth consecut year |
| growth | fifth consecut year declin rate | growth | india remain bright spot china |
| growth | china slow rebal away exportl | growth | countri russia brazil face serious |
| countri | slow rebal away exportl growth | countri | russia brazil face serious econom |
| econom | countri russia brazil face serious | econom | difficulti growth latin american countri |
| growth | brazil face serious econom difficulti | growth | latin american countri general continu |
| countri | econom difficulti growth latin american | countri | general continu slow sharpli also |
| also | countri general continu slow sharpli | also | see weaker activ lowincom countri |
| countri | also see weaker activ lowincom | countri | increas affect worsen extern environ |
| global | increas affect worsen extern environ | global | level still drag economi financi |
| economi | environ global level still drag | economi | financi stabil yet assur despit |
| countri | financi sector weak remain mani | countri | financi risk elev emerg market |
| market | countri financi risk elev emerg | market | put togeth see global growth |
| global | emerg market put togeth see | global | growth disappoint uneven addit mediumterm |
| growth | market put togeth see global | growth | disappoint uneven addit mediumterm growth |
| growth | growth disappoint uneven addit mediumterm | growth | prospect becom weaker new mediocr |
| growth | exact year ago risk low | growth | long time loom closer potenti |
| growth | long time loom closer potenti | growth | held back low product popul |
| global | low product popul age legaci | global | financi crisi high debt low |
| economi | weak bank continu burden advanc | economi | especi europ mani emerg economi |
| economi | economi especi europ mani emerg | economi | continu face adjust postcrisi credit |
| econom | postcrisi credit invest boom major | econom | transit spilloversthi outlook heavili affect |
| econom | spilloversthi outlook heavili affect major | econom | transit creat global rippl effect |
| global | affect major econom transit creat | global | rippl effect call spillov spillback |
| growth | highlight two china transit new | growth | model normal u monetari polici |
| polici | growth model normal u monetari | polici | clear shift necessari healthi good |
| growth | new normal slower safer sustain | growth | new model reli consumpt less |
| also | commodityintens invest servic less manufactur | also | requir transit stabl marketdriven financi |
| need | policymak face delic balanc act | need | implement difficult reform preserv demand |
| market | effect trade exchang rate asset | market | capit flow saw spillov recent |
| economi | month investor worri speed china | economi | slow concern put pressur commod |
| market | slow concern put pressur commod | market | trigger sizeabl currenc depreci number |
| countri | currenc depreci number commod export | countri | mani year reli china export |
| need | period low commod price chang | need | manag policymak particular larg commod |
| polici | transit concern normal u monetari | polici | feder reserv pois rais interest |
| also | time nine year although fed | also | clear indic rate expect remain |
| econom | low time transit reflect better | econom | condit us also good global |
| also | reflect better econom condit us | also | good global economi low interest |
| global | econom condit us also good | global | economi low interest rate contribut |
| economi | condit us also good global | economi | low interest rate contribut search |
| also | sovereign bond corpor credit fed | also | face delic balanc act normal |
| market | interest rate minim risk financi | market | disrupt potenti spillov prospect rise |
| financ | u rate alreadi contribut higher | financ | cost borrow includ emerg develop |
| economi | cost borrow includ emerg develop | economi | part necessari adjust global financi |
| global | develop economi part necessari adjust | global | financi condit process howev could |
| market | could complic structur chang fixedincom | market | becom less liquid fragil recip |
| market | becom less liquid fragil recip | market | overreact disrupt outsid advanc economi |
| economi | market overreact disrupt outsid advanc | economi | countri general better prepar higher |
| countri | overreact disrupt outsid advanc economi | countri | general better prepar higher interest |
| economi | buffer shock mani emerg develop | economi | respond global financi crisi bold |
| global | mani emerg develop economi respond | global | financi crisi bold countercycl fiscal |
| polici | countercycl fiscal monetari action use | polici | buffer abl lead global economi |
| global | use polici buffer abl lead | global | economi time need past five |
| economi | polici buffer abl lead global | economi | time need past five year |
| need | abl lead global economi time | need | past five year account almost |
| global | five year account almost percent | global | growth polici action general went |
| growth | year account almost percent global | growth | polici action general went togeth |
| polici | account almost percent global growth | polici | action general went togeth increas |
| countri | financi leverag privat sector mani | countri | incur debt signific portion u |
| polici | bank sovereign bottom line proactiv | polici | manag everyon especi emerg economi |
| economi | polici manag everyon especi emerg | economi | import ever much diagnosi done |
| need | today note earlier action requir | need | intensifi polici effort clear call |
| polici | earlier action requir need intensifi | polici | effort clear call policymak make |
| polici | effort clear call policymak make | polici | upgrad address current challeng mean |
| economi | mean upgrad demand side advanc | economi | except unit state possibl uk |
| polici | uk continu requir accommod monetari | polici | advanc economi howev fulli incorpor |
| economi | requir accommod monetari polici advanc | economi | howev fulli incorpor spillov risk |
| polici | communic clear regard constitut crucial | polici | upgrad euro area upgrad fulli |
| market | monetari accommod improv outlook bolster | market | confid emerg economi would need |
| economi | outlook bolster market confid emerg | economi | would need improv monitor foreign |
| need | market confid emerg economi would | need | improv monitor foreign currenc exposur |
| also | foreign currenc exposur major compani | also | use macroprudenti tool ensur resili |
| global | vicious cycl corpor bank sovereign | global | level press need complet implement |
| need | bank sovereign global level press | need | complet implement regulatori reform agenda |
| global | ahead us resolut framework system | global | activ financi institut remain inadequ |
| countri | institut remain inadequ fiscal side | countri | use polici flexibl growthfriend possibl |
| polici | inadequ fiscal side countri use | polici | flexibl growthfriend possibl imf continu |
| economi | possibl imf continu recommend advanc | economi | room fiscal stimulus use boost |
| also | infrastructur credibl mediumterm fiscal plan | also | remain prioriti especi unit state |
| countri | unit state japan commod export | countri | polici room maneuv use smooth |
| polici | state japan commod export countri | polici | room maneuv use smooth adjust |
| growth | necessari fiscal adjust thus preserv | growth | use lesson other final countri |
| countri | growth use lesson other final | countri | need upgrad econom structur reform |
| need | use lesson other final countri | need | upgrad econom structur reform labor |
| econom | other final countri need upgrad | econom | structur reform labor product market |
| market | econom structur reform labor product | market | infrastructur educ healthcar trade name |
| polici | make happen cours easi make | polici | recommend implement requir skill savvi |
| polici | recommend implement requir skill savvi | polici | make especi phase lower growth |
| growth | polici make especi phase lower | growth | higher uncertainti moreov import polici |
| polici | growth higher uncertainti moreov import | polici | implement nation level also contribut |
| also | import polici implement nation level | also | contribut coher global approach given |
| global | nation level also contribut coher | global | approach given collect natur mani |
| global | like climat chang trade migrat | global | financi safeti net increas intern |
| also | last weekend new york hope | also | lead meaning agreement climat chang |
| econom | middl east europ humanitarian issu | econom | issu affect everyon everyon oblig |
| econom | help imf play part analyz | econom | impact affect member provid specif |
| polici | impact affect member provid specif | polici | recommend also provid fiscal space |
| also | member provid specif polici recommend | also | provid fiscal space program support |
| growth | jordan iraq tunisia mandat address | growth | econom stabil issu nation global |
| econom | iraq tunisia mandat address growth | econom | stabil issu nation global level |
| global | growth econom stabil issu nation | global | level also continu refin core |
| also | stabil issu nation global level | also | continu refin core activ surveil |
| countri | elabor aim annual address member | countri | next week lima let add |
| need | amongst membership ensur fund resourc | need | respond member need today tomorrow |
| need | fund resourc need respond member | need | today tomorrow fact heart global |
| global | need today tomorrow fact heart | global | financi safeti net continu urg |
| econom | hear peopl say epoch enorm | econom | progress believ wild mistaken interpret |
| econom | overrapid chang pain readjust one | econom | period anoth keyn note realism |
| polici | yes challeng great yes right | polici | leadership cooper manag brighter futur |
| global | brighter futur us thank unhcr | global | trend report world war june |
| financ | communiti put test pledg secur | financ | make sustain develop ambit realiti |
| countri | success depend decis action implement | countri | collect level countri levelcountri must |
| countri | action implement countri collect level | countri | levelcountri must act three level |
| econom | levelcountri must act three level | econom | social environment first macroeconom stabil |
| economi | first macroeconom stabil prerequisit sustain | economi | suffici prioriti vari across countri |
| countri | economi suffici prioriti vari across | countri | structur reform effort diversifi economi |
| economi | countri structur reform effort diversifi | economi | often requir equal revenu mobil |
| growth | second prioriti inclus affirm inclus | growth | also stronger growth must empow |
| also | prioriti inclus affirm inclus growth | also | stronger growth must empow peopl |
| growth | affirm inclus growth also stronger | growth | must empow peopl fulfil potenti |
| financ | remov barrier women employ access | financ | would boost growth also tackl |
| growth | employ access financ would boost | growth | also tackl incom inequ poverti |
| also | access financ would boost growth | also | tackl incom inequ poverti let |
| countri | exclus sexist environ third prioriti | countri | crucial stake manag natur resourc |
| econom | effect time limit harm impact | econom | activ environ requir target intervent |
| countri | environ requir target intervent short | countri | must drive develop durabl progress |
| need | isol requir engag intern communiti | need | collect action collect responsibilitiesbecaus today |
| countri | wall built level imf member | countri | year track record promot global |
| global | countri year track record promot | global | econom cooper stabil understand well |
| econom | year track record promot global | econom | cooper stabil understand well need |
| need | econom cooper stabil understand well | need | power collect action inde fund |
| also | action inde fund promis action | also | deliv polici advic research capac |
| polici | fund promis action also deliv | polici | advic research capac build includ |
| also | includ social environment dimens continu | also | expand support develop countri sever |
| countri | continu also expand support develop | countri | sever way imf work member |
| countri | sever way imf work member | countri | intern partner spirit global cooper |
| global | member countri intern partner spirit | global | cooper necessari achiev sdgs done |
| market | consider attent recent week concern | market | asia econom prospect given new |
| econom | recent week concern market asia | econom | prospect given new focus public |
| econom | sector continu support region great | econom | achiev place premium issu address |
| financ | imf activ recent vice minist | financ | fund side effort happi sit |
| countri | placement longterm resid advisor three | countri | region pleas allow express deep |
| financ | express deep gratitud japan ministri | financ | continu support includ event organ |
| also | ta recipi kind agre speak | also | speaker japan fsa south korea |
| global | present view key issu highlight | global | financi crisi relat bank govern |
| growth | around percent world gdp reflect | growth | asian bank sector becom bigger |
| economi | close intertwin region compris advanc | economi | intern financi center emerg develop |
| economi | intern financi center emerg develop | economi | home system import global institut |
| global | develop economi home system import | global | institut environ role bank regul |
| growth | financi institut pose risk stabil | growth | signific regulatori reform adopt sinc |
| global | signific regulatori reform adopt sinc | global | financi crisi address system risk |
| countri | governanceon crucial challeng corpor govern | countri | tend regulatori framework place mani |
| countri | effort tailor intern best practic | countri | circumst strengthen corpor govern commerci |
| also | profil align compens longterm object | also | requir supervisor assess bank corpor |
| countri | supervis assess financi system suggest | countri | problem identifi deal risk pose |
| global | span sector cross border spring | global | financi stabil report analyz asian |
| economi | bank crossbord bank flow asian | economi | exclud japan australia increas percent |
| countri | riskshar invest benefit home host | countri | stronger region linkag also bring |
| also | host countri stronger region linkag | also | bring potenti greater vulner crossbord |
| global | financi stabil multipl jurisdict saw | global | crisi shock move rapid u |
| market | shock move rapid u hous | market | global market creat challeng involv |
| global | move rapid u hous market | global | market creat challeng involv bank |
| market | rapid u hous market global | market | creat challeng involv bank supervis |
| global | among regul supervisor ensur benefit | global | bank limit risk financi stabil |
| financ | risk provid new sourc corpor | financ | drive next stage asia remark |
| growth | drive next stage asia remark | growth | financi integr grow role regul |
| countri | becom ever import keep one | countri | problem becom system imf work |
| countri | honor deepli move visit liberia | countri | imf rich longstand partnership play |
| countri | histor role lead exampl first | countri | africa declar independ far back |
| countri | independ far back first african | countri | elect femal presid presid ellen |
| also | femal presid presid ellen sirleaf | also | one femal nobel prize winner |
| economi | one leader teacher caregiv friend | economi | ground halt commend leadership demonstr |
| countri | far mani made ultim sacrific | countri | proud legaci extraordinari resili face |
| countri | come next difficult challeng set | countri | road perman sustain recoveri mind |
| also | better sure intern respons epidem | also | help turn tide faster effect |
| countri | experi peopl took challeng save | countri | govern took full ownership task |
| countri | inde liberia provid assist neighbor | countri | share best practic contain diseas |
| countri | support last septemb cash bank | countri | could draw right away resourc |
| financ | could draw right away resourc | financ | essenti expans govern budget deficit |
| need | pay salari prevent larger recess | need | step februari altogeth provid almost |
| countri | trust total provid total million | countri | neighbor guinea sierra leon trust |
| countri | trust use futur crise help | countri | face pandem earthquak natur disast |
| need | mani lesson draw coordin consist | need | knowledg diseas emerg seem nowher |
| need | daunt rebuild health system address | need | vulner household impoverish outbreak support |
| countri | vulner household impoverish outbreak support | countri | recoveri face difficult deterior extern |
| growth | deterior extern environ restor liberia | growth | prospect bring second topic restor |
| growth | bring second topic restor liberia | growth | prospect beyond crucial ebola respons |
| need | crucial ebola respons issu discuss | need | revit liberian economi economi reach |
| economi | issu discuss need revit liberian | economi | economi reach impress percent growth |
| economi | discuss need revit liberian economi | economi | reach impress percent growth rate |
| growth | economi economi reach impress percent | growth | rate crisi easi task especi |
| global | easi task especi face challeng | global | economi period renew uncertainti advanc |
| economi | task especi face challeng global | economi | period renew uncertainti advanc economi |
| economi | economi period renew uncertainti advanc | economi | recov pace recoveri disappoint china |
| market | pace recoveri disappoint china emerg | market | face mani challeng slowdown affect |
| market | mani challeng slowdown affect commod | market | import liberia african countri product |
| countri | commod market import liberia african | countri | product commod iron ore alreadi |
| growth | invest nonetheless step take boost | growth | govern econom stabil recoveri program |
| econom | step take boost growth govern | econom | stabil recoveri program appropri incorpor |
| need | incorpor prioriti intervent address postebola | need | transit countri back agenda transform |
| countri | intervent address postebola need transit | countri | back agenda transform object take |
| countri | work togeth ensur better futur | countri | alreadi make effort get economi |
| economi | countri alreadi make effort get | economi | go would like highlight three |
| growth | percent road pave constraint drag | growth | even ebola hit hearten see |
| countri | experi bring revenu level prevail | countri | west african communiti equal import |
| also | public money import fiscal reason | also | obtain broad public accept public |
| economi | project second area action diversifi | economi | support inclus growth good reason |
| growth | action diversifi economi support inclus | growth | good reason usual cautious make |
| economi | cautious make recommend structur aspect | economi | plan busi strike invest agricultur |
| countri | gain extern trade know success | countri | often manag encourag busi invest |
| economi | busi invest across mani area | economi | import creat climat encourag innov |
| market | unemploy group high percent labor | market | entrant year imper turn youth |
| need | women futur let start obvious | need | rebuild health system liberia two |
| countri | rebuild health system liberia two | countri | ravag ebola task differ dimens |
| need | pass away difficult replac certain | need | larg educ effort way goe |
| also | young peopl inform sector must | also | lose sight import asset remain |
| econom | govern presid sirleaf progress promot | econom | particip liberian women date women |
| countri | author compar previous administr histori | countri | must say person pleasur work |
| financ | women antoinett sayeh former minist | financ | current head african depart spite |
| need | liberia still larg gender gap | need | close rwanda lead world term |
| polici | explicit quota women would help | polici | improv women access health servic |
| growth | determin effort could help achiev | growth | sustain inclus way certain think |
| countri | way certain think easi yet | countri | region overcom conflict fragil achiev |
| growth | conflict fragil achiev strong inclus | growth | doubt liberian noth harder beat |
| global | liberian noth harder beat ebola | global | challeng global commit bring final |
| global | harder beat ebola global challeng | global | commit bring final point intern |
| financ | exist come better mobil domest | financ | mention come offici develop assist |
| also | zero percent long term imf | also | strengthen technic assist capac build |
| need | liberia unit way take step | need | revit economi ultim move liberia |
| economi | way take step need revit | economi | ultim move liberia middleincom status |
| econom | tension increas secur risk recur | econom | disrupt yet tunisia manag success |
| econom | democraci must built consensus respect | econom | opportun inclus word poet abou |
| also | poet abou al kacem chebbi | also | part nation anthem best captur |
| countri | peac inclus elect import mileston | countri | transit fairer societi destini respond |
| econom | respond tunisia turn polit victori | econom | triumph secur even better futur |
| global | share perspect three issu first | global | environ risk confront tunisia outlook |
| polici | confront tunisia outlook ii second | polici | prioriti lay foundat tunisia econom |
| econom | polici prioriti lay foundat tunisia | econom | takeoff iii third partnership tunisia |
| economi | partnership tunisia imf evolv tunisian | economi | resili amidst challeng difficult conjuncturelet |
| economi | tunisia key macroeconom achiev outlook | economi | tunisia macroeconom perform past year |
| growth | macroeconom perform past year commend | growth | posit around percent per year |
| growth | preced event bardo souss low | growth | europ tunisia key trade partner |
| economi | tunisia key trade partner impact | economi | two main channel first channel |
| growth | one percentag point declin europ | growth | translat percentag point declin tunisia |
| growth | translat percentag point declin tunisia | growth | quit signific second channel transmiss |
| growth | tourism tunisia tourism sector major | growth | driver economi repres close percent |
| economi | tourism sector major growth driver | economi | repres close percent gdp employ |
| also | percent level record recent attack | also | inflict blow tunisia tourism annual |
| economi | percent lower last year repercuss | economi | palpabl employ signific impact therefor |
| growth | employ signific impact therefor project | growth | econom activ percent current year |
| econom | signific impact therefor project growth | econom | activ percent current year yet |
| economi | headwind recent turn tailwind tunisian | economi | say start expect growth global |
| growth | tunisian economi say start expect | growth | global economi remain moder growth |
| global | economi say start expect growth | global | economi remain moder growth advanc |
| economi | say start expect growth global | economi | remain moder growth advanc economi |
| growth | growth global economi remain moder | growth | advanc economi firm even growth |
| economi | economi remain moder growth advanc | economi | firm even growth mani emerg |
| growth | growth advanc economi firm even | growth | mani emerg economi slow import |
| economi | firm even growth mani emerg | economi | slow import expect growth euro |
| growth | emerg economi slow import expect | growth | euro area stronger previous year |
| also | stronger trade tourism flow time | also | expect commod price remain low |
| countri | locat cultur natur beauti make | countri | vital link europ africa welleduc |
| need | welleduc youth popul reservoir talent | need | build asset deliv tunisia aspir |
| econom | illus road ahead achiev tunisia | econom | triumph easi still hurdl overcom |
| countri | rate three time higher interior | countri | richer coastal area growth project |
| growth | interior countri richer coastal area | growth | project percent year enough make |
| growth | unemploy secur better life inclus | growth | tunisia peopl fortun roadmap exist |
| economi | necessari transform tunisia dynam competit | economi | creat job citizen see three |
| growth | first growthfriend budget unleash tunisia | growth | potenti requir higher invest spend |
| growth | world improv composit budget support | growth | requir reorient public spend toward |
| also | toward higher invest social expenditur | also | mean reform tax system make |
| econom | play role meet aspir greater | econom | fair middl east north african |
| countri | fair middl east north african | countri | exampl case tunisia equiti effici |
| economi | financi system key healthi vibrant | economi | effort need overcom vestig old |
| need | key healthi vibrant economi effort | need | overcom vestig old model key |
| growth | vestig old model key constraint | growth | modern bank system subject strong |
| financ | open competit essenti improv access | financ | credit alloc product activ type |
| need | govern practic facilit financi intermedi | need | continu third reform area busi |
| need | reform area busi climat tunisia | need | firstclass busi climat fast gear |
| growth | firstclass busi climat fast gear | growth | takeoff current busi enterpris shackl |
| economi | get construct permit percent sector | economi | face invest restrict regul stifl |
| need | rule inhibit invest job creation | need | level play field firm two |
| market | last week open key product | market | remov discretionari practic sum growth |
| growth | market remov discretionari practic sum | growth | friend budget effici financi system |
| economi | busi climat lay foundat vibrant | economi | difficult reform longer postpon need |
| need | economi difficult reform longer postpon | need | implement quick order meet aspir |
| econom | tunisia determin transform polit accomplish | econom | triumph tunisia imf partnership continuestunisia |
| polici | imf support tunisia financi assist | polici | advic extens technic assist fundsupport |
| econom | help tunisia implement homegrown program | econom | polici reform object reform preserv |
| polici | tunisia implement homegrown program econom | polici | reform object reform preserv macroeconom |
| growth | macroeconom stabil generat higher inclus | growth | protect vulner flexibl respons fundament |
| also | earli program support balanc payment | also | public budget accommod spend pressur |
| also | ensur program object remain achiev | also | engag tunisian author capac build |
| polici | wide rang area exampl tax | polici | administr design automat fuel price |
| economi | lay foundat stronger resili inclus | economi | conclusionin conclus would like pay |
| econom | inclus cohes societi unit quest | econom | opportun prosper world watch stand |
| global | creat estim million new job | global | economi promis today want focus |
| economi | estim million new job global | economi | promis today want focus deliv |
| also | women empower fundament moral caus | also | absolut econom nobrain mean first |
| econom | fundament moral caus also absolut | econom | nobrain mean first know empow |
| econom | first know empow women boost | econom | growth exampl estim number femal |
| growth | know empow women boost econom | growth | exampl estim number femal worker |
| countri | enough taken serious appli particular | countri | potenti growth declin popul age |
| growth | serious appli particular countri potenti | growth | declin popul age second get |
| also | capita incom percent kind gain | also | possibl mani countri third greater |
| countri | kind gain also possibl mani | countri | third greater gender equal rais |
| also | gender equal rais absolut incom | also | help reduc incom inequ forthcom |
| countri | could increas agricultur output develop | countri | percent lift million peopl hunger |
| growth | million peopl hunger sum boost | growth | rais overal incom reduc inequ |
| need | achiev two differ proposit deliv | need | decis sustain collect action w |
| economi | new research exampl women role | economi | legal barrier femal particip perhap |
| polici | even import look appli research | polici | advic member countri imf stand |
| countri | appli research polici advic member | countri | imf stand w key polici |
| polici | countri imf stand w key | polici | area focus help deliv g |
| polici | deliv g promis three key | polici | area women econom empowermentov cours |
| econom | three key polici area women | econom | empowermentov cours woman life numer |
| countri | school boost earn potenti percent | countri | level turkey experi girl educ |
| countri | educ probabl singl best invest | countri | make beyond invest educ per |
| countri | gender gap educ narrow mani | countri | mani countri howev remain signific |
| countri | educ narrow mani countri mani | countri | howev remain signific includ mani |
| market | remain signific includ mani emerg | market | develop countri employmentwhat second major |
| countri | includ mani emerg market develop | countri | employmentwhat second major polici area |
| polici | develop countri employmentwhat second major | polici | area employ receiv educ common |
| countri | workforc mean guarante employ number | countri | high educ women still low |
| economi | percentag point averag major advanc | economi | yes educ essenti part larger |
| need | essenti part larger packag els | need | help women find work first |
| countri | imf research note almost percent | countri | least one import legal restrict |
| countri | make difficult women work half | countri | studi gender equiti constitut grant |
| financ | particip percent fourth unequ access | financ | emerg develop countri percent femaleown |
| countri | unequ access financ emerg develop | countri | percent femaleown small mediums enterpris |
| polici | deliv object familyso third broad | polici | area revolv around special role |
| market | help maintain woman connect labor | market | japan exampl make signific stride |
| also | rais salient point men partner | also | father son brother import stake |
| also | daughter mother sister achiev potenti | also | help build stronger societi amartya |
| market | increas number young mother labor | market | percent tax reform also help |
| also | labor market percent tax reform | also | help mani countri tax system |
| countri | tax reform also help mani | countri | tax system discourag secondari earner |
| market | educ eas women entri labor | market | also support women econom empower |
| also | eas women entri labor market | also | support women econom empower conclus |
| econom | labor market also support women | econom | empower conclus word actionth g |
| growth | histor way hold potenti boost | growth | rais overal per capita incom |
| global | inequ peopl world short gamechang | global | economi promis fulfil word becom |
| economi | peopl world short gamechang global | economi | promis fulfil word becom action |
| need | promis fulfil word becom action | need | work togeth g w imf |
| countri | togeth g w imf member | countri | transform aspir realiti thank cok |
| economi | staff discuss note women work | economi | macroeconom gain gender equiti world |
| econom | dac network gender equal women | econom | empower dare differ l women |
| economi | staff discuss note women work | economi | macroeconom gain gender equiti world |
| econom | concept note turkey women access | econom | opportun turkey trust fund imf |
| economi | staff discuss note women work | economi | macroeconom gain gender equiti imf |
| economi | staff discuss note women work | economi | macroeconom gain gender equiti imf |
| economi | staff discuss note women work | economi | macroeconom gain gender equiti |
| financ | like welcom highlevel caribbean forum | financ | growth fourth year forum still |
| growth | welcom highlevel caribbean forum financ | growth | fourth year forum still relat |
| countri | harri get know littl bit | countri | differ perspect report staff write |
| also | meet broad crosssect peopl would | also | like express appreci develop partner |
| global | key challeng face region inde | global | macro risk gone away region |
| need | readi provid emerg financi assist | need | want person reiter fund commit |
| econom | circumst like pleas note strengthen | econom | growth caribbean past year us |
| growth | like pleas note strengthen econom | growth | caribbean past year us work |
| growth | year us work toward howev | growth | still challeng rest world remain |
| growth | recoveri unit state look robust | growth | prospect deterior mani part globe |
| market | compar year ago mani emerg | market | notabl latin america also exampl |
| also | emerg market notabl latin america | also | exampl canada key tourism market |
| market | also exampl canada key tourism | market | region europ still look fragil |
| growth | good caribbean forum keep focus | growth | year particular financ growth exact |
| financ | keep focus growth year particular | financ | growth exact line effort intern |
| growth | focus growth year particular financ | growth | exact line effort intern communiti |
| growth | secur sustain develop inde quest | growth | must cast firm context sustain |
| growth | must cast firm context sustain | growth | durabl equit safeguard environ allow |
| global | like discuss briefli fund role | global | push sustain develop relev caribbean |
| financ | develop relev caribbean forum third | financ | develop confer juli addi ababa |
| global | pari decemb imf strong commit | global | partnership know imf key mandat |
| global | know imf key mandat promot | global | econom stabil precondit sustain develop |
| econom | imf key mandat promot global | econom | stabil precondit sustain develop also |
| also | econom stabil precondit sustain develop | also | start deepen focus aspect econom |
| econom | also start deepen focus aspect | econom | social gender inclus environment protect |
| growth | sdg object vital balanc inclus | growth | identifi sever initi enhanc support |
| econom | support post agenda aim boost | econom | resili member seek attain growth |
| growth | econom resili member seek attain | growth | object direct impact work area |
| growth | forum confer program focus unleash | growth | year promis concentr area import |
| financ | us forum montego bay relat | financ | growth meet energi challeng financi |
| growth | forum montego bay relat financ | growth | meet energi challeng financi sector |
| global | issu session kick confer present | global | region outlook set stage subsequ |
| polici | region outlook set stage subsequ | polici | discuss session ii focus energi |
| polici | sector donor best collabor achiev | polici | maker object better energi develop |
| need | type financi institut structur reform | need | address problem hear polici maker |
| polici | reform need address problem hear | polici | maker develop countri world also |
| countri | problem hear polici maker develop | countri | world also review recent develop |
| also | polici maker develop countri world | also | review recent develop correspond bank |
| global | develop correspond bank relationship implic | global | regulatori environ region critic issu |
| countri | sector domest intern mani caribbean | countri | well signific effort underway progress |
| growth | key prerequisit deliv stronger caribbean | growth | like last year let us |
| financ | concret recommend help reduc constraint | financ | invest strengthen growth caribbean respect |
| growth | reduc constraint financ invest strengthen | growth | caribbean respect format look close |
| financ | us today confer futur asia | financ | time topic particular light recent |
| market | wellb tri time inde financi | market | short week underlin valu attach |
| market | attach financi stabil must preserv | market | also demonstr much asia core |
| also | financi stabil must preserv market | also | demonstr much asia core global |
| global | also demonstr much asia core | global | economi testimoni extraordinari gain past |
| economi | demonstr much asia core global | economi | testimoni extraordinari gain past generat |
| countri | extraordinari gain past generat asian | countri | taken place among advanc economi |
| economi | countri taken place among advanc | economi | achiev emerg market status reach |
| market | among advanc economi achiev emerg | market | status reach higher other still |
| global | develop togeth becom key sourc | global | growth given world new vital |
| growth | togeth becom key sourc global | growth | given world new vital face |
| global | use experi asian crisi weather | global | financi crisi taper tantrum put |
| polici | tantrum put place strong macroeconom | polici | strengthen financi system withstood instabl |
| growth | china rebalanc japan continu slow | growth | fall commod price face prospect |
| need | confid region govern fulli understand | need | done readi take action need |
| need | need done readi take action | need | cours polici need tailor differ |
| polici | readi take action need cours | polici | need tailor differ countri circumst |
| need | take action need cours polici | need | tailor differ countri circumst includ |
| countri | cours polici need tailor differ | countri | circumst includ strengthen defens prudent |
| polici | includ strengthen defens prudent fiscal | polici | rein excess credit growth allow |
| growth | fiscal polici rein excess credit | growth | allow exchang rate act shock |
| polici | focus financi sector issu essenti | polici | mix allow take minut highlight |
| growth | infrastructur inclus innov sustain asia | growth | momentum next generationlet us begin |
| growth | sector alreadi support extraordinari level | growth | transform region rapid rise financ |
| financ | growth transform region rapid rise | financ | need follow exampl asian manufactur |
| need | transform region rapid rise financ | need | follow exampl asian manufactur continu |
| countri | process talk financi deepen within | countri | mean shift away tradit bank |
| market | take commerci lend corpor deeper | market | help asia benefit new trade |
| countri | boost product grow labor forc | countri | support age other consum new |
| financ | servic provid home mortgag auto | financ | insur product pension occur countri |
| countri | financ insur product pension occur | countri | like singapor busi innov mean |
| financ | mean risk capit startup equiti | financ | expand compani mean expand role |
| market | mean expand role bond stock | market | enabl institut investor provid longterm |
| financ | enabl institut investor provid longterm | financ | integr creat financi market synergywhat |
| market | longterm financ integr creat financi | market | synergywhat deepen financi interact among |
| countri | synergywhat deepen financi interact among | countri | financi integr second come play |
| econom | creat region trade linkag spur | econom | vital region place center global |
| global | econom vital region place center | global | valu chain time come inject |
| market | financi linkag overcom legaci fragment | market | build synergi among financi institut |
| market | synergi among financi institut capit | market | take exampl asean region combin |
| market | grown rapid bring benefit emerg | market | frontier economi alik greater financi |
| economi | bring benefit emerg market frontier | economi | alik greater financi integr advanc |
| market | process creat larger liquid capit | market | reduc cost capit advanc intraregion |
| econom | advanc intraregion trade propos asean | econom | communiti import step call harmon |
| polici | step call harmon regul greater | polici | coordin look forward watch initi |
| economi | third key asia futur frontier | economi | improv road railway port new |
| market | electr build block develop emerg | market | livabl citi proper public transport |
| need | develop bank estim asia infrastructur | need | trillion next decad requir substanti |
| polici | infrastructur spend call strengthen fiscal | polici | someth imf assist includ care |
| also | revenu public money enough infrastructur | also | requir capit market provid new |
| market | enough infrastructur also requir capit | market | provid new sourc privat financ |
| financ | market provid new sourc privat | financ | includ risk capit infrastructur fund |
| also | privat invest appli infrastructur alon | also | must built foundat attract busi |
| market | invest capit mani live emerg | market | part prosper also busi case |
| also | live emerg market part prosper | also | busi case promot financi inclus |
| growth | access financi servic lead higher | growth | instrument advanc financi sector stabil |
| econom | access women financi servic tremend | econom | social benefit shown stimul growth |
| growth | econom social benefit shown stimul | growth | moreov yet anoth paper come |
| financ | topic ensur women leadership role | financ | could also support financi stabil |
| also | women leadership role financ could | also | support financi stabil would also |
| also | also support financi stabil would | also | note islam financ potenti broaden |
| financ | stabil would also note islam | financ | potenti broaden access financ deepen |
| financ | islam financ potenti broaden access | financ | deepen invest pool long term |
| econom | role crucial connect asia stabl | econom | progress fall us work togeth |
| financ | hope find book futur asian | financ | help examin issu also promis |
| also | asian financ help examin issu | also | promis imf bring expertis bear |
| polici | imf bring expertis bear endeavor | polici | advic research technic assist train |
| need | togeth benefit ladi gentlemen spirit | need | work togeth maintain stabil ensur |
| countri | kune yellow campus nurtur mani | countri | finest economist policymak includ person |
| also | much respect sri mulyani institut | also | forg mani leader steer indonesia |
| countri | reformasi reform remark success transform | countri | less generat decentr democraci today |
| economi | usher next phase indonesia transform | economi | vibrant inclus also outwardlook readi |
| also | indonesia transform economi vibrant inclus | also | outwardlook readi take right place |
| global | outwardlook readi take right place | global | stage indonesia need continu broaden |
| need | right place global stage indonesia | need | continu broaden growth model compet |
| growth | stage indonesia need continu broaden | growth | model compet manufactur agricultur servic |
| global | vast reservoir talent entrepreneurship becom | global | player across much wider rang |
| economi | activ mean strengthen fundament underpin | economi | make resili also mean tap |
| also | fundament underpin economi make resili | also | mean tap spirit ancient maritim |
| global | reach world engag quit frank | global | communiti need fourth largest youth |
| need | engag quit frank global communiti | need | fourth largest youth popul play |
| global | youth popul play lead role | global | economi imagin garuda mythic bird |
| economi | popul play lead role global | economi | imagin garuda mythic bird countri |
| countri | economi imagin garuda mythic bird | countri | emblem like bird would encourag |
| global | generat succeed first take tour | global | economi implic indonesia need generat |
| economi | succeed first take tour global | economi | implic indonesia need generat new |
| need | tour global economi implic indonesia | need | generat new sourc econom strength |
| econom | indonesia need generat new sourc | econom | strength ii discuss polici need |
| polici | sourc econom strength ii discuss | polici | need reorient economi sourc growth |
| need | econom strength ii discuss polici | need | reorient economi sourc growth unleash |
| economi | ii discuss polici need reorient | economi | sourc growth unleash potenti generat |
| growth | polici need reorient economi sourc | growth | unleash potenti generat prosper iii |
| growth | prosper iii final talk qualiti | growth | import wisdom inclus growth help |
| growth | qualiti growth import wisdom inclus | growth | help indonesia youth becom truli |
| global | help indonesia youth becom truli | global | citizen indonesia global economi sustain |
| global | becom truli global citizen indonesia | global | economi sustain resili amid challeng |
| economi | truli global citizen indonesia global | economi | sustain resili amid challeng timeslet |
| global | timeslet start quick health check | global | economi overal expect global growth |
| economi | start quick health check global | economi | overal expect global growth remain |
| global | check global economi overal expect | global | growth remain moder like weaker |
| growth | global economi overal expect global | growth | remain moder like weaker anticip |
| economi | forc weaker expect recoveri advanc | economi | slowdown emerg economi especi latin |
| economi | recoveri advanc economi slowdown emerg | economi | especi latin america asia region |
| global | asia region still expect lead | global | growth even pace turn slower |
| growth | region still expect lead global | growth | even pace turn slower expect |
| global | slow even given recent spike | global | risk avers financi market volatil |
| market | spike global risk avers financi | market | volatil impli indonesia like sever |
| economi | indonesia like sever larg emerg | economi | countri find caught wrong side |
| countri | like sever larg emerg economi | countri | find caught wrong side sever |
| economi | indonesia main trade partner chines | economi | adjust new growth model growth |
| growth | partner chines economi adjust new | growth | model growth slow sharpli unexpect |
| growth | economi adjust new growth model | growth | slow sharpli unexpect transit marketbas |
| economi | slow sharpli unexpect transit marketbas | economi | unwind risk built recent year |
| polici | well somewhat bumpi said author | polici | tool financi buffer manag transit |
| economi | financi buffer manag transit emerg | economi | includ indonesia need vigil handl |
| need | transit emerg economi includ indonesia | need | vigil handl potenti spillov china |
| global | potenti spillov china slowdown tighten | global | financi condit time commod price |
| economi | yet third shift unfold advanc | economi | sign recoveri firm unit state |
| economi | lift could pose risk emerg | economi | includ indonesia form weaker capit |
| market | portend indonesia like mani emerg | market | economi indonesia today buffet anoth |
| economi | indonesia like mani emerg market | economi | indonesia today buffet anoth bout |
| global | indonesia today buffet anoth bout | global | financi turbul worri cours indonesia |
| global | experi handl turbul look weather | global | financi crisi taper tantrum indonesia |
| need | past even recent turbul highlight | need | even greater resili requir rejuven |
| countri | even greater resili requir rejuven | countri | growth momentum garuda strength one |
| growth | greater resili requir rejuven countri | growth | momentum garuda strength one key |
| growth | one key virtu well awar | growth | slow past four year recent |
| global | fallen percent first time sinc | global | financi crisi clear slowdown need |
| need | global financi crisi clear slowdown | need | perman indonesia shift higher growth |
| growth | need perman indonesia shift higher | growth | trajectori need get right side |
| need | indonesia shift higher growth trajectori | need | get right side ongo shift |
| global | get right side ongo shift | global | econom financi landscap take full |
| econom | right side ongo shift global | econom | financi landscap take full advantag |
| polici | potenti let turn second topic | polici | prioriti unleash indonesia econom prospect |
| econom | topic polici prioriti unleash indonesia | econom | prospect rejuven indonesia growth ingredi |
| growth | indonesia econom prospect rejuven indonesia | growth | ingredi greater prosperityindonesia today eighth |
| economi | greater prosperityindonesia today eighth largest | economi | world measur home half labor |
| countri | invest trade opportun would allow | countri | benefit momentum fastest grow region |
| countri | grow region world would help | countri | partak indonesia growth well import |
| growth | would help countri partak indonesia | growth | well import unlik countri region |
| countri | indonesia growth well import unlik | countri | region see workforc age even |
| economi | time overal unemploy rate sure | economi | thrive much talent remain underutil |
| growth | seen rapid rise past decad | growth | sustain benefit enjoy uniqu opportun |
| economi | time embark bold reform modern | economi | creat job youth make fit |
| global | youth make fit st centuri | global | leader need lay foundat futur |
| need | fit st centuri global leader | need | lay foundat futur prosper garuda |
| market | stori commod export larg domest | market | whole new class market conquer |
| market | domest market whole new class | market | conquer neighborhood global well billion |
| global | new class market conquer neighborhood | global | well billion consum enter global |
| global | global well billion consum enter | global | middl class next year make |
| economi | year make conquest achiev develop | economi | potenti manufactur agricultur servic generat |
| countri | take turn first think infrastructur | countri | made island modern effici infrastructur |
| market | effici infrastructur vital connect peopl | market | within countri world yet indonesia |
| countri | vital connect peopl market within | countri | world yet indonesia infrastructur gap |
| also | help creat job manufactur servic | also | set better connect serv global |
| global | also set better connect serv | global | clientel presid jokowi right made |
| polici | right made infrastructur improv top | polici | prioriti come four year infrastructur |
| economi | think invest climat experi dynam | economi | china past decad japan korea |
| countri | japan korea demonstr one thing | countri | develop potenti engag fulli world |
| global | world intern new technolog go | global | market place compet ever broaden |
| market | intern new technolog go global | market | place compet ever broaden rang |
| need | rang activ servic indonesia first | need | remov constraint shackl privat sector |
| also | mean streamlin complex regulatori requir | also | mean harmon overlap contradictori nation |
| economi | direct still open invest take | economi | far complementari trade strategi need |
| need | economi far complementari trade strategi | need | indonesia entrepreneur businessmen go world |
| econom | trade alway key driver indonesia | econom | activ import reap potenti dividend |
| econom | liber integr especi within asean | econom | communiti stronger polici framework power |
| polici | within asean econom communiti stronger | polici | framework power better infrastructur outward |
| growth | better infrastructur outward orient mindset | growth | prosper need wisdom garuda third |
| need | outward orient mindset growth prosper | need | wisdom garuda third virtu nurtur |
| need | last mean mean prosper last | need | inclus everyon must share fruit |
| growth | everyon must share fruit inclus | growth | indonesia youth nation leader global |
| global | growth indonesia youth nation leader | global | citizensi alway believ healthi economi |
| economi | global citizensi alway believ healthi | economi | inclus economi one econom financi |
| economi | alway believ healthi economi inclus | economi | one econom financi opportun provid |
| econom | healthi economi inclus economi one | econom | financi opportun provid equal segment |
| econom | potenti add million skill worker | econom | game changer reason under unemploy |
| market | may sever key culprit labor | market | remain one rigid region beyond |
| need | lowskil job inform sector clear | need | polici eas labor mobil encourag |
| polici | job inform sector clear need | polici | eas labor mobil encourag employ |
| also | youth higher valu ad activ | also | mean higher invest skill indonesia |
| econom | inclus access credit key link | econom | opportun econom outcom essenti individu |
| econom | credit key link econom opportun | econom | outcom essenti individu empower yet |
| financ | area even discuss futur asia | financ | confer tomorrow effort sever front |
| need | tomorrow effort sever front still | need | increas financi integr region nation |
| global | financi integr region nation leader | global | citizensso clear inclus societi empow |
| countri | chang lead chang encourag bring | countri | world indonesia alreadi fourth largest |
| global | alreadi fourth largest user facebook | global | could har power technolog share |
| global | idea skill much bigger univers | global | citizen also role global communiti |
| also | much bigger univers global citizen | also | role global communiti confront common |
| global | univers global citizen also role | global | communiti confront common challeng today |
| global | away take courag wisdom navig | global | environ sukarno said indonesia youth |
| growth | think climat chang opportun green | growth | offer generat come voic action |
| global | world cours indonesia alreadi activ | global | stage exampl g indonesia play |
| global | g indonesia play key role | global | polici respons crisi fact next |
| polici | indonesia play key role global | polici | respons crisi fact next trip |
| growth | trip attend g meet turkey | growth | domin agenda emerg economi includ |
| economi | turkey growth domin agenda emerg | economi | includ indonesia instrument shape dialogu |
| polici | includ indonesia instrument shape dialogu | polici | prioriti spur growth global level |
| growth | shape dialogu polici prioriti spur | growth | global level also wit indonesia |
| global | dialogu polici prioriti spur growth | global | level also wit indonesia grow |
| also | prioriti spur growth global level | also | wit indonesia grow leadership role |
| economi | imf especi issu import emerg | economi | activ engag quota represent reform |
| polici | quota represent reform design appropri | polici | emerg economi part imf alway |
| economi | reform design appropri polici emerg | economi | part imf alway steadfast partner |
| global | steadfast partner indonesia grow integr | global | economi continu evolv world chang |
| economi | partner indonesia grow integr global | economi | continu evolv world chang need |
| need | economi continu evolv world chang | need | membership imf becom attun polici |
| polici | need membership imf becom attun | polici | advic technic cooper challeng emerg |
| economi | advic technic cooper challeng emerg | economi | particular manag growth transit keep |
| growth | challeng emerg economi particular manag | growth | transit keep vulner check prepar |
| need | vulner check prepar adapt approach | need | servic member countri servic conclusionto |
| countri | adapt approach need servic member | countri | servic conclusionto conclud sure indonesia |
| global | conclud sure indonesia leadership role | global | stage set grow world need |
| need | global stage set grow world | need | economi like indonesia engag activ |
| economi | stage set grow world need | economi | like indonesia engag activ forg |
| global | engag activ forg new form | global | cooper one reflect ongo shift |
| global | cooper one reflect ongo shift | global | landscap dynam economi indonesia right |
| economi | ongo shift global landscap dynam | economi | indonesia right place countri immens |
| countri | dynam economi indonesia right place | countri | immens potenti destini lie hand |
| financ | time come heel intern confer | financ | develop addi ababa ahead followup |
| financ | bilater donor multilater institut promot | financ | develop particular focus domest revenu |
| global | pleas join forc usaid tackl | global | econom challeng context post develop |
| econom | join forc usaid tackl global | econom | challeng context post develop agenda |
| countri | develop import import help member | countri | build strong institut boost skill |
| polici | design implement sound macroeconom financi | polici | strong framework fiscal polici monetari |
| polici | financi polici strong framework fiscal | polici | monetari polici financi sector oversight |
| polici | strong framework fiscal polici monetari | polici | financi sector oversight essenti econom |
| econom | polici financi sector oversight essenti | econom | wellb without good econom institut |
| econom | essenti econom wellb without good | econom | institut without capabl peopl behind |
| polici | institut without capabl peopl behind | polici | ineffect capac develop critic support |
| also | myanmar mexico offici virtual member | also | benefit train activ biggest recipi |
| countri | recipi servic low lower middleincom | countri | account twothird technic assist half |
| also | twothird technic assist half train | also | strive closer need member respond |
| need | half train also strive closer | need | member respond flexibl nine region |
| countri | expand capac build servic member | countri | today pleas usaid decid join |
| global | field varieti capac develop vehicl | global | network region technic assist center |
| countri | organ compar advantag benefit member | countri | develop partner let conclud express |
| econom | two decad region seen remark | econom | social progress still numer challeng |
| countri | alway assist latin american member | countri | way commit region policymak stronger |
| global | focus three issu first outlook | global | economi ii second outlook latin |
| economi | three issu first outlook global | economi | ii second outlook latin america |
| global | refer central america short challeng | global | environmentth global econom environ remain |
| global | america short challeng global environmentth | global | econom environ remain challeng recoveri |
| econom | short challeng global environmentth global | econom | environ remain challeng recoveri global |
| global | econom environ remain challeng recoveri | global | financi crisi continu fair subdu |
| econom | pace accord latest updat world | econom | outlook expect real global gdp |
| global | world econom outlook expect real | global | gdp grow percent year repres |
| growth | revis earlier project still expect | growth | strengthen percent next year under |
| econom | next year under driver acceler | econom | activ remain intact usual headlin |
| growth | activ remain intact usual headlin | growth | number mask mani under dynam |
| economi | let take look prospect advanc | economi | unit state still strongest engin |
| global | unit state still strongest engin | global | growth privat consumpt power u |
| growth | state still strongest engin global | growth | privat consumpt power u recoveri |
| market | u recoveri support firmer labor | market | still easi financi condit healthier |
| growth | balanc sheet downward revis u | growth | project year  ½ percent |
| global | first quarter main reason scale | global | growth mani factor weigh growth |
| growth | quarter main reason scale global | growth | mani factor weigh growth first |
| growth | global growth mani factor weigh | growth | first quarter temporari view recent |
| also | confirm under activ robust situat | also | improv euro area japan growth |
| growth | also improv euro area japan | growth | prospect remain subdu u central |
| economi | remain subdu u central bank | economi | taken addit step sinc begin |
| market | edg closer liftoff affect currenc | market | particular u dollar appreci mark |
| also | mark past year euro yen | also | currenc far shift global currenc |
| global | yen also currenc far shift | global | currenc line asynchron econom develop |
| econom | shift global currenc line asynchron | econom | develop world economi help rebalanc |
| economi | line asynchron econom develop world | economi | help rebalanc demand support global |
| global | economi help rebalanc demand support | global | growth speak global growth must |
| growth | help rebalanc demand support global | growth | speak global growth must bear |
| global | demand support global growth speak | global | growth must bear mind biggest |
| growth | support global growth speak global | growth | must bear mind biggest contribut |
| economi | mani year come emerg develop | economi | continu case even though dynam |
| economi | still grow signific faster advanc | economi | percent compar percent rate growth |
| growth | economi percent compar percent rate | growth | rate decreas china promin exampl |
| economi | rate decreas china promin exampl | economi | rebal away excess relianc invest |
| growth | rebal away excess relianc invest | growth | slow doubledigit rate forecast growth |
| growth | growth slow doubledigit rate forecast | growth | percent around half percentag point |
| economi | think healthi help put chines | economi | sustain path doubt import implic |
| economi | import implic mani part world | economi | particular relev global commod market |
| global | part world economi particular relev | global | commod market experienc major boom |
| market | economi particular relev global commod | market | experienc major boom first decad |
| market | oil price fallen percent emerg | market | develop economi implic twofold first |
| economi | fallen percent emerg market develop | economi | implic twofold first prospect net |
| market | interest rate time mani emerg | market | slow could creat financi headwind |
| economi | would offset benefit stronger u | economi | support activ rest world said |
| market | rest world said abrupt financi | market | adjust cannot rule cours negat |
| countri | rule cours negat impact felt | countri | weak fundament also take account |
| also | impact felt countri weak fundament | also | take account geopolit risk particular |
| global | consider risk negat surpris today | global | economi said begin outlook remain |
| economi | risk negat surpris today global | economi | said begin outlook remain challeng |
| need | begin outlook remain challeng underscor | need | polici support strong sustain growth |
| polici | outlook remain challeng underscor need | polici | support strong sustain growth reduc |
| growth | need polici support strong sustain | growth | reduc financi vulner exampl monetari |
| polici | reduc financi vulner exampl monetari | polici | euro area japan stay high |
| polici | high accommod forese futur fiscal | polici | remain growthfriend possibl take account |
| polici | growthfriend possibl take account limit | polici | space mani countri includ emerg |
| countri | account limit polici space mani | countri | includ emerg economi moreov policymak |
| economi | space mani countri includ emerg | economi | moreov policymak press ahead structur |
| economi | declin product potenti output almost | economi | push structur reform would creat |
| econom | import stride past two decad | econom | prosper financi stabil social progress |
| econom | progress area major improv made | econom | polici framework strengthen countri reflect |
| polici | area major improv made econom | polici | framework strengthen countri reflect lesson |
| countri | made econom polici framework strengthen | countri | reflect lesson learn overindebted high |
| countri | crise secur greater stabil mani | countri | rein unsustain fiscal deficit reduc |
| countri | ratio includ adopt fiscal rule | countri | also success reduc inflat anchor |
| also | includ adopt fiscal rule countri | also | success reduc inflat anchor inflat |
| econom | absorb extern shock overal improv | econom | polici put latin america much |
| polici | extern shock overal improv econom | polici | put latin america much stronger |
| global | stronger posit help region weather | global | financi crisi despit shortliv recess |
| growth | recess region saw averag annual | growth | almost percent well  ½ |
| growth | averag previous two decad solid | growth | deliv import social gain poverti |
| also | belong middl class impress progress | also | know much remain done consolid |
| econom | extend progress biggest challeng cours | econom | slowdown latin america growth rate |
| growth | cours econom slowdown latin america | growth | rate expect decreas fifth year |
| growth | deriv limit benefit stronger u | growth | due relat weak trade linkag |
| econom | linkag slowdown yet creat sizeabl | econom | slack unemploy general remain low |
| market | remain low even though labor | market | start weaken inflat hover offici |
| economi | inflat hover offici target larger | economi | extern current account deficit remain |
| growth | constraint play import role word | growth | come potenti growth also look |
| growth | role word growth come potenti | growth | also look weaker specif supplysid |
| also | word growth come potenti growth | also | look weaker specif supplysid constraint |
| countri | supplysid constraint obvious differ across | countri | common theme first weak infrastructur |
| growth | weak educ outcom constrain product | growth | third weak busi environ complic |
| polici | dynam success busi clear import | polici | challeng need address need address |
| need | busi clear import polici challeng | need | address need address increas sens |
| need | import polici challeng need address | need | address increas sens urgenc given |
| growth | increas sens urgenc given weak | growth | outlook context lower commod price |
| growth | consider capit inflow domest credit | growth | possibl revers flow could caus |
| econom | possibl revers flow could caus | econom | financi strain especi case leverag |
| need | bank built good year policymak | need | extrem vigil safeguard financi stabil |
| econom | vigil safeguard financi stabil protect | econom | progress region made iii central |
| economi | great benefit close tie u | economi | cheaper commod know central american |
| economi | cheaper commod know central american | economi | commod import cheaper oil reduc |
| countri | bill boost domest purchas power | countri | posit effect expect outweigh possibl |
| financ | expect outweigh possibl loss subsid | financ | venezuela petrocarib program inflat extern |
| also | petrocarib program inflat extern balanc | also | benefit favor extern environ lower |
| countri | fallen central bank target sever | countri | expect remain moder extern side |
| market | sovereign continu tap intern capit | market | intern reserv coverag also improv |
| also | capit market intern reserv coverag | also | improv go forward lower oil |
| growth | lower oil price higher u | growth | result narrow current account deficit |
| financ | current account deficit could fulli | financ | foreign direct invest sever countri |
| countri | financ foreign direct invest sever | countri | time policymak central america need |
| need | countri time policymak central america | need | readi address potenti downsid risk |
| market | downsid risk includ increas financi | market | volatil due rise u interest |
| market | trade due fluctuat oil commod | market | past experi clear show strong |
| countri | advers spillov effect long term | countri | central america need make progress |
| need | long term countri central america | need | make progress resolv under macroeconom |
| countri | macroeconom structur challeng exampl sever | countri | high rise public debt deeproot |
| growth | invest weigh product limit potenti | growth | would like call policymak redoubl |
| market | borrow cost case worsen capit | market | condit countri signific fiscal adjust |
| countri | case worsen capit market condit | countri | signific fiscal adjust need least |
| need | condit countri signific fiscal adjust | need | least save direct budgetari windfal |
| growth | budgetari windfal gain faster u | growth | energi subsidi sizabl lower oil |
| also | lower oil price beyond policymak | also | take advantag favor extern environ |
| countri | wake lower oil price inflat | countri | would also benefit stronger polici |
| also | oil price inflat countri would | also | benefit stronger polici framework would |
| polici | countri would also benefit stronger | polici | framework would requir introduc fiscal |
| also | monetari anchor reduc incent dollar | also | financi market develop foster order |
| market | reduc incent dollar also financi | market | develop foster order strengthen monetari |
| polici | principl accommod without relax monetari | polici | continu vigil requir possibl futur |
| countri | requir possibl futur inflationari pressur | countri | output gap essenti close fall |
| need | regulatori requir bolster prudenti regul | need | contain potenti credit risk unhedg |
| growth | risk unhedg borrow period rapid | growth | foreign currenc loan progress structur |
| also | currenc loan progress structur reform | also | critic reap full benefit favor |
| growth | extern outlook set foundat inclus | growth | tax reform vital support higher |
| growth | human capit achiev higher sustain | growth | addit improv busi environ govern |
| also | addit improv busi environ govern | also | critic support greater privat invest |
| polici | favor better time tackl hard | polici | challeng imf stand readi support |
| need | policymak region surveil technic assist | need | financi support fund look forward |
| polici | opportun share view craft effect | polici | region lima chanc bolster global |
| global | polici region lima chanc bolster | global | econom financi stabil make progress |
| econom | region lima chanc bolster global | econom | financi stabil make progress achiev |
| also | lorenzana host th region confer | also | thank central bank governor financ |
| financ | also thank central bank governor | financ | minist bank superintend distinguish invite |
| polici | time take part import region | polici | dialogu howev thirteen year confer |
| econom | serv uniqu forum discuss key | econom | financi issu becom integr part |
| polici | financi issu becom integr part | polici | exchang imf econom author region |
| econom | integr part polici exchang imf | econom | author region past sure confer |
| polici | key challeng affect region appropri | polici | respons address challeng regionthi second |
| need | last two confer howev note | need | done replenish polici buffer use |
| polici | howev note need done replenish | polici | buffer use global crisi creat |
| global | done replenish polici buffer use | global | crisi creat opportun inclus growth |
| growth | global crisi creat opportun inclus | growth | region face slight brighter extern |
| growth | seen mani year due stronger | growth | unit state region main trade |
| global | partner lower oil price time | global | interest rate like rise gradual |
| economi | scope strengthen fundament protect region | economi | better advers shock polici action |
| polici | region economi better advers shock | polici | action achiev fiscal sustain need |
| need | polici action achiev fiscal sustain | need | well reform upgrad monetari exchang |
| polici | manag potenti volatil normal monetari | polici | advanc economi second region need |
| economi | volatil normal monetari polici advanc | economi | second region need grow faster |
| need | polici advanc economi second region | need | grow faster share incom fair |
| growth | social demand essenti faster inclus | growth | come primarili higher privat invest |
| financ | fiscal manag peru share former | financ | minist lui carranza tomorrow director |
| economi | carsten discuss impact mexico emerg | economi | normal u monetari polici jump |
| polici | emerg economi normal u monetari | polici | jump ambiti agenda would like |
| global | way resolv key challeng face | global | economi forum author meet discuss |
| economi | resolv key challeng face global | economi | forum author meet discuss global |
| global | economi forum author meet discuss | global | outlook solut region challeng excel |
| polici | person understand multipl challeng face | polici | maker reason high appreci close |
| countri | appreci close candid relationship develop | countri | region motiv fund even support |
| growth | maintain macroeconom stabil boost longterm | growth | eas social inequ countri final |
| countri | longterm growth eas social inequ | countri | final allow share hope present |
| economi | prove help endeavor strengthen region | economi | one import servic fund provid |
| global | provid member share view relat | global | outlook prospect particular group countri |
| countri | global outlook prospect particular group | countri | polici improv latter econom perform |
| polici | outlook prospect particular group countri | polici | improv latter econom perform resili |
| econom | group countri polici improv latter | econom | perform resili striven prepar confer |
| countri | day togeth prove use servic | countri | thank much |
| financ | manag director imf un confer | financ | develop addi ababa ethiopia juli |
| global | regret confid confer defin moment | global | develop full commit imf continu |
| countri | imf continu support develop fragil | countri | gather ethiopia dynam countri rise |
| countri | fragil countri gather ethiopia dynam | countri | rise contin share onceinagener opportun |
| financ | shouldertoshould un partner forg consensus | financ | develop journey monterrey addi ababa |
| countri | world chang across mani develop | countri | isol stagnat integr growth nonfragil |
| growth | develop countri isol stagnat integr | growth | nonfragil lowincom countri real per |
| countri | stagnat integr growth nonfragil lowincom | countri | real per capita gdp increas |
| countri | percent time howev recogn fragil | countri | tragic fallen behind across world |
| growth | move ahead path sustain inclus | growth | must unit guid three key |
| countri | partnership commit flexibl partnershipfirst partnership | countri | develop emerg advanc must work |
| countri | sector intern organ know develop | countri | best place drive develop know |
| polici | drive develop know sound macroeconom | polici | essenti help mobil resourc use |
| also | mobil resourc use effici effect | also | know develop countri cannot alon |
| countri | effici effect also know develop | countri | cannot alon intern communiti respons |
| growth | respons creat enabl environ sustain | growth | develop work handinhand develop countri |
| countri | growth develop work handinhand develop | countri | togeth partnership greater sum part |
| global | sustain commit generat speak imf | global | membership mandat promot growth stabil |
| growth | imf global membership mandat promot | growth | stabil commit help turn new |
| polici | action well enhanc core function | polici | advic capac build also strengthen |
| also | function polici advic capac build | also | strengthen lend develop countri three |
| countri | build also strengthen lend develop | countri | three key way concret way |
| global | way concret way imf strengthen | global | safeti net lowincom countri imf |
| countri | strengthen global safeti net lowincom | countri | imf strengthen commit flexibilityso need |
| need | countri imf strengthen commit flexibilityso | need | partnership commit third principl flexibl |
| need | environ wellknown futur ramif us | need | readi adapt new challeng aris |
| also | thank kemal kind introduct let | also | thank host brook institut pleas |
| global | pleas alongsid nanci birdsal center | global | develop elliott one campaign homi |
| financ | us addi ababa un confer | financ | develop know first three major |
| global | know first three major confer | global | develop year septemb new york |
| global | three confer repres onceinagener opportun | global | develop decis taken pivot year |
| countri | new approach chang music put | countri | firm path sustain inclus growth |
| growth | countri firm path sustain inclus | growth | grasp window opportun must consid |
| global | like focus three issu chang | global | develop landscapefirst develop landscap circumst |
| market | past year system import emerg | market | prosper mani develop countri becom |
| countri | emerg market prosper mani develop | countri | becom integr global economi result |
| global | mani develop countri becom integr | global | economi result rapid expans growth |
| economi | develop countri becom integr global | economi | result rapid expans growth trade |
| growth | global economi result rapid expans | growth | trade capit flow sinc exampl |
| countri | capit flow sinc exampl develop | countri | gdp trade expand annual averag |
| economi | sinc earli capit flow develop | economi | increas threefold econom expans good |
| econom | flow develop economi increas threefold | econom | expans good news bad news |
| economi | equit call varianc better perform | economi | often underpin robust domest polici |
| polici | economi often underpin robust domest | polici | forg ahead sad poorest fragil |
| countri | per capita gdp nonfragil lowincom | countri | increas almost percent fragil countri |
| countri | countri increas almost percent fragil | countri | risen less percent anoth import |
| countri | high level incom inequ within | countri | even general speak inequ countri |
| countri | countri even general speak inequ | countri | declin recent decad third v |
| also | great recess conflict natur disast | also | set mani countri back climat |
| countri | natur disast also set mani | countri | back climat chang repres increas |
| countri | chang repres increas problem poor | countri | hit especi hard sinc exampl |
| countri | threequart natur disast occur develop | countri | locat relianc agricultur make poorest |
| countri | locat relianc agricultur make poorest | countri | especi vulner anoth factor implic |
| countri | anoth factor implic volatil demograph | countri | age popul face rise depend |
| financ | depend ratio could strain govern | financ | slow growth other especi subsaharan |
| growth | could strain govern financ slow | growth | other especi subsaharan africa could |
| global | lie ahead trend import implic | global | develop make right choic must |
| also | taken account make right choic | also | rest commit partner bring second |
| countri | bring second theme role develop | countri | import role domest polici support |
| polici | develop countri import role domest | polici | support sustain growthwhen look back |
| countri | last year one lesson develop | countri | perform best general assum greatest |
| growth | surpris macroeconom stabil prerequisit sustain | growth | includ keep inflat moder public |
| also | inflat moder public debt sustain | also | mean implement polici help maintain |
| polici | debt sustain also mean implement | polici | help maintain resili face extern |
| global | region demonstr remark resili face | global | financi crisi fact near twothird |
| countri | crisi fact near twothird subsaharan | countri | record ten year uninterrupt growth |
| growth | countri record ten year uninterrupt | growth | prudent polici paid cours strong |
| polici | ten year uninterrupt growth prudent | polici | paid cours strong macroeconom polici |
| polici | polici paid cours strong macroeconom | polici | remain paramount import especi region |
| growth | larg scale privat invest driver | growth | time stabl foundat watertight hull |
| growth | chart cours toward inclus sustain | growth | prioriti mobil revenu imper half |
| countri | mobil revenu imper half develop | countri | tax ratio percent gdp compar |
| countri | gdp compar averag percent oecd | countri | situat even wors fragil state |
| countri | imf studi examin low middleincom | countri | found fundsupport program revenu condit |
| countri | program revenu condit help implement | countri | increas tax revenu percentag point |
| need | tax revenu redirect support develop | need | inde salient point revenu rais |
| growth | spent effici effect support inclus | growth | strong fiscal institut public financi |
| growth | play improv infrastructur support inclus | growth | unfortun found around percent potenti |
| countri | due ineffici public invest process | countri | lowest effici quartil abl increas |
| econom | level highest quartil would doubl | econom | bang get invest buck mobil |
| growth | develop financi sector way support | growth | tackl poverti imf staff estim |
| growth | poverti imf staff estim annual | growth | rate develop economi liber bank |
| economi | estim annual growth rate develop | economi | liber bank sector exceed economi |
| economi | economi liber bank sector exceed | economi | less liber bank sector percentag |
| also | liber bank sector percentag point | also | know percentag peopl live less |
| financ | environ way help attract privat | financ | invest domest foreign cours also |
| also | financ invest domest foreign cours | also | essenti share fruit growth promot |
| growth | cours also essenti share fruit | growth | promot econom inclus environment sustain |
| econom | essenti share fruit growth promot | econom | inclus environment sustain includ provid |
| financ | environment sustain includ provid access | financ | strengthen social protect empow women |
| econom | subsaharan africa short empow women | econom | gamechang general imf research show |
| growth | bottom percent associ higher gdp | growth | also found oneginipoint increas inequ |
| also | percent associ higher gdp growth | also | found oneginipoint increas inequ associ |
| growth | associ percentag point higher risk | growth | spell come end come year |
| growth | spell come end come year | growth | inclus also higher durabl put |
| also | end come year growth inclus | also | higher durabl put anoth way |
| econom | put anoth way fair good | econom | well bottom line implement polici |
| polici | econom well bottom line implement | polici | conduc sustain growth develop countri |
| growth | line implement polici conduc sustain | growth | develop countri go long way |
| countri | polici conduc sustain growth develop | countri | go long way support develop |
| also | develop cannot alon intern communiti | also | must play key role work |
| countri | key role work handinhand develop | countri | develop role intern communiti includ |
| countri | includ rais aid level rich | countri | reduc cost transfer remitt poor |
| countri | reduc cost transfer remitt poor | countri | requir commit partnership let emphas |
| global | alway encourag imf staff fund | global | membership mandat promot econom growth |
| econom | fund global membership mandat promot | econom | growth stabil also commit partner |
| growth | global membership mandat promot econom | growth | stabil also commit partner develop |
| also | mandat promot econom growth stabil | also | commit partner develop pivot year |
| polici | strong payoff first foremost core | polici | advic capac build strengthen work |
| econom | longhaul hard slog rebuild key | econom | institut inevit setback way longhaul |
| polici | way longhaul stay cours beyond | polici | advic capac build also pleas |
| also | beyond polici advic capac build | also | pleas announc sever chang financ |
| financ | also pleas announc sever chang | financ | facil develop countri approv execut |
| countri | sever chang financ facil develop | countri | approv execut board day ago |
| countri | loan constitut import safeti net | countri | confront extern payment imbal expand |
| countri | net provid addit level support | countri | pursu ambiti develop concret way |
| countri | intend creat support environ develop | countri | prosper period ahead play part |
| global | togeth year mark onceinagener opportun | global | develop way seiz partnership go |
| also | mersch kind invit contribut event | also | let say grazi governor ignazio |
| market | new secur undertak cradl capit | market | stock trade italian citi document |
| market | integr individu citi rather illiquid | market | capit market come long way |
| market | citi rather illiquid market capit | market | come long way sinc integr |
| market | way sinc integr european capit | market | remain elus dream long wit |
| global | today celebr give opportun provid | global | perspect three key question relat |
| market | financi system opportun challeng capit | market | integr target secur contribut make |
| market | secur contribut make european capit | market | integr access foreign investor benefici |
| econom | integr access foreign investor benefici | econom | growth balanc bankbas marketbas financi |
| growth | access foreign investor benefici econom | growth | balanc bankbas marketbas financi systemsfirst |
| market | exert corpor control time capit | market | also play vital role alloc |
| also | corpor control time capit market | also | play vital role alloc capit |
| econom | intern evid effect financi system | econom | growth stabil find onesizefitsal come |
| growth | evid effect financi system econom | growth | stabil find onesizefitsal come priorit |
| market | find onesizefitsal come priorit bank | market | bankbas system uniform better marketbas |
| economi | howev evid clear one point | economi | develop reap benefit term growth |
| growth | economi develop reap benefit term | growth | financi stabil reli less exclus |
| market | toward balanc financi system capit | market | play increas import role even |
| market | fundament achiev right balanc bank | market | bank strong capit market effici |
| market | bank market bank strong capit | market | effici resili let turn european |
| econom | role adequ support ongo european | econom | recoveri time marketbas financ need |
| financ | european econom recoveri time marketbas | financ | need becom import support fund |
| need | econom recoveri time marketbas financ | need | becom import support fund debt |
| market | particular equiti increas depth capit | market | europ requir greater integr hand |
| economi | requir greater integr hand european | economi | big enough support capit market |
| market | economi big enough support capit | market | reach critic mass full rang |
| economi | asset class europ mani small | economi | crossbord integr market especi valuabl |
| market | mani small economi crossbord integr | market | especi valuabl background imf support |
| market | background imf support european capit | market | union opportun challeng capit market |
| market | market union opportun challeng capit | market | integrationthi bring second question want |
| market | tackl today opportun challeng capit | market | integr crossbord financi integr offer |
| econom | financi integr offer number import | econom | benefit growth enhanc better alloc |
| growth | offer number import econom benefit | growth | enhanc better alloc save stabil |
| economi | risk share instanc regard latter | economi | like unit state capit market |
| market | economi like unit state capit | market | deep fulli integr near percent |
| countri | near percent shock state within | countri | smooth capit market three time |
| market | state within countri smooth capit | market | three time smooth feder budget |
| market | number suggest substanti potenti capit | market | enhanc riskshar europ regard challeng |
| market | europ regard challeng associ capit | market | integr alway potenti crossbord transmiss |
| need | potenti crossbord transmiss shock underscor | need | accompani increas role nonbank financi |
| financ | role nonbank financi intermedi marketbas | financ | adequ regulatori supervisori framework safeguard |
| market | deep smooth function wellintegr capit | market | clear settlement system provid effici |
| market | target secur vital part capit | market | union one object reduc cost |
| also | cost increas competit greater harmon | also | expect broader posit impact effici |
| market | fulli develop integr european capit | market | forget econom benefit deeper integr |
| econom | integr european capit market forget | econom | benefit deeper integr capit market |
| market | econom benefit deeper integr capit | market | much greater need structur reform |
| need | integr capit market much greater | need | structur reform also carri labor |
| also | much greater need structur reform | also | carri labor product market key |
| market | reform also carri labor product | market | key financ channel effici activ |
| financ | carri labor product market key | financ | channel effici activ thus elev |
| growth | effici activ thus elev potenti | growth | thank referencesasdrubali p b sorensen |
| econom | share unit state quarter journal | econom | intern monetari fund global financi |
| global | journal econom intern monetari fund | global | financi stabil report navig monetari |
| polici | financi stabil report navig monetari | polici | challeng manag risk april sahay |
| growth | yousefi rethink financi deepen stabil | growth | emerg market imf staff discuss |
| market | financi deepen stabil growth emerg | market | imf staff discuss note washington |
| econom | peterson institut intern | econom | june mani thank peterson institut |
| polici | affair depart fad explor fiscal | polici | affect medium longterm growth studi |
| growth | fiscal polici affect medium longterm | growth | studi distil lesson growthfriend reform |
| economi | reform across advanc emerg lowincom | economi | second explor empir link major |
| growth | major fiscal reform episod defin | growth | acceler third perform simul endogen |
| growth | acceler third perform simul endogen | growth | model result simul figur present |
| polici | focus analyz option growthfriend fiscal | polici | point time global recoveri remain |
| global | growthfriend fiscal polici point time | global | recoveri remain weak clear chart |
| global | chart left chart right show | global | crisi affect current econom activ |
| econom | show global crisi affect current | econom | activ prospect go forward also |
| also | econom activ prospect go forward | also | dim restor robust growth key |
| growth | forward also dim restor robust | growth | key polici prioriti fiscal polici |
| polici | dim restor robust growth key | polici | prioriti fiscal polici instrument play |
| polici | growth key polici prioriti fiscal | polici | instrument play central role support |
| growth | central role support strong equit | growth | fiscal polici affect longterm growth |
| polici | support strong equit growth fiscal | polici | affect longterm growth let start |
| growth | growth fiscal polici affect longterm | growth | let start macro level specif |
| growth | level specif impact fiscal stabil | growth | measur whether fiscal polici contribut |
| polici | stabil growth measur whether fiscal | polici | contribut macroeconom stabil april fiscal |
| countri | call fisco fisco measur much | countri | overal budget balanc chang respons |
| polici | fisco countercycl stabil conduct fiscal | polici | left chart see higher fisco |
| growth | help avoid wast fluctuat employ | growth | second lower macroeconom uncertainti provid |
| growth | social capit therebi boost mediumterm | growth | link fisco growth illustr figur |
| growth | boost mediumterm growth link fisco | growth | illustr figur right effect rais |
| economi | larg take exampl case advanc | economi | rais fisco median level top |
| countri | fisco median level top third | countri | would reduc output volatil percent |
| growth | output volatil percent turn bring | growth | dividend percentag point annual see |
| economi | stabil appear higher among advanc | economi | among emerg market lowincom countri |
| market | among advanc economi among emerg | market | lowincom countri median fisco among |
| countri | economi among emerg market lowincom | countri | median fisco among advanc economi |
| economi | countri median fisco among advanc | economi | among emerg market develop economi |
| market | among advanc economi among emerg | market | develop economi estim attempt address |
| economi | economi among emerg market develop | economi | estim attempt address wellknown challeng |
| growth | estim attempt address wellknown challeng | growth | regress identifi econom literatur still |
| econom | wellknown challeng growth regress identifi | econom | literatur still econometr find result |
| polici | transmiss channel work structur fiscal | polici | growth labor suppli physic capit |
| growth | channel work structur fiscal polici | growth | labor suppli physic capit stock |
| polici | last least innov tax expenditur | polici | use increas growth four channel |
| growth | tax expenditur polici use increas | growth | four channel examin much detail |
| economi | left chart total spend advanc | economi | reach percent gdp figur percent |
| market | gdp figur percent gdp emerg | market | economi percent gdp lowincom countri |
| economi | figur percent gdp emerg market | economi | percent gdp lowincom countri see |
| countri | market economi percent gdp lowincom | countri | see chart right across countri |
| countri | countri see chart right across | countri | group compens employe plus good |
| economi | account half total spend advanc | economi | percent spend emerg market contrast |
| market | advanc economi percent spend emerg | market | contrast low incom countri account |
| countri | emerg market contrast low incom | countri | account less per cent expenditur |
| countri | examin achiev greater effici various | countri | group exampl govern wage bill |
| economi | review poor target instanc advanc | economi | onefifth total spend famili benefit |
| also | total spend famili benefit meanstest | also | improv effici public invest pursu |
| countri | public invest pursu especi lowincom | countri | let turn tax figur left |
| economi | tax figur left show advanc | economi | labor tax wedg negat correl |
| countri | work incent lead higher employ | countri | studi paper show labor tax |
| econom | notic higher contribut labor total | econom | growth develop economi clear relationship |
| growth | higher contribut labor total econom | growth | develop economi clear relationship see |
| economi | labor total econom growth develop | economi | clear relationship see chart right |
| growth | relationship spend r d longterm | growth | howev r d tax incent |
| countri | avoid distort ensur effect happen | countri | undertook fiscal reform studi examin |
| countri | examin signific fiscal reform episod | countri | assess longrun impact growth mention |
| growth | episod countri assess longrun impact | growth | mention earlier studi base innov |
| growth | simpl term approach calcul would | growth | path countri polici reform implement |
| countri | approach calcul would growth path | countri | polici reform implement call synthet |
| polici | calcul would growth path countri | polici | reform implement call synthet growth |
| growth | polici reform implement call synthet | growth | path compar actual growth path |
| growth | synthet growth path compar actual | growth | path countri synthet growth path |
| countri | path compar actual growth path | countri | synthet growth path assess potenti |
| growth | actual growth path countri synthet | growth | path assess potenti impact reform |
| growth | impact reform see left chart | growth | gain part signific advanc countri |
| countri | growth gain part signific advanc | countri | longterm growth percentag point higher |
| growth | part signific advanc countri longterm | growth | percentag point higher synthet project |
| also | higher synthet project would suggest | also | find channel fiscal reform affect |
| growth | channel fiscal reform affect longterm | growth | relat specif reform action taken |
| growth | taken exampl contribut labor output | growth | increas countri implement overhaul labor |
| countri | contribut labor output growth increas | countri | implement overhaul labor taxat reduc |
| growth | piec evid want share analysi | growth | acceler fiscal reform methodolog involv |
| growth | identifi episod fiscal reform follow | growth | acceler defin growth acceler durabl |
| growth | reform follow growth acceler defin | growth | acceler durabl increas fiveyear averag |
| growth | acceler durabl increas fiveyear averag | growth | least one percentag point result |
| growth | percentag point result indic probabl | growth | acceler seem higher presenc previous |
| growth | health educ infrastructur spend follow | growth | acceler percent case revenu side |
| growth | increas share indirect tax follow | growth | acceler percent case revenu expenditur |
| growth | case revenu expenditur reform combin | growth | acceler ensu close percent case |
| growth | creat job road real wage | growth | reduct pave person incom tax |
| also | possibl expenditurebas fiscal adjust episod | also | highlight third lesson public support |
| also | sustain otherwis effect communic stakehold | also | help foster support reform countri |
| countri | also help foster support reform | countri | sampl strong focus build consensus |
| growth | design fiscal reform packag serv | growth | equiti object support evid countri |
| countri | growth equiti object support evid | countri | case studi exampl ireland late |
| growth | late incom inequ increas signific | growth | acceler despit sharp reduct public |
| polici | spend part reflect design fiscal | polici | cut public sector wage untarget |
| polici | higher valuead activ summar fiscal | polici | make signific differ support strong |
| growth | signific differ support strong equit | growth | illustr earlier estim show averag |
| growth | earlier estim show averag annual | growth | advanc economi might increas  |
| economi | show averag annual growth advanc | economi | might increas  ¾ percent |
| countri | share magic list measur help | countri | grow realiti onesizefitsal fiscal polici |
| polici | countri grow realiti onesizefitsal fiscal | polici | reform need tailor countryspecif condit |
| need | realiti onesizefitsal fiscal polici reform | need | tailor countryspecif condit administr capac |
| growth | administr capac prefer say howev | growth | dividend sustain fiscal reform depend |
| polici | design success fiscal reform exploit | polici | complementar general accompani structur reform |
| polici | accompani structur reform support macroeconom | polici | social consensus increas likelihood reform |
| growth | likelihood reform implement sustain andboth | growth | equiti object achiev reform design |
| economi | talk today go outlook armenian | economi | environ region challeng armenia face |
| global | seem come difficult time last | global | financi crisi strong impact output |
| growth | extern flow dri construct key | growth | driver decad collaps armenian author |
| economi | collaps armenian author success stabil | economi | crisi support intern communiti respons |
| growth | remitt lower copper price sluggish | growth | global europ region global outlooklet |
| global | lower copper price sluggish growth | global | europ region global outlooklet look |
| global | sluggish growth global europ region | global | outlooklet look extern environ armenia |
| growth | russia declin  ½ percent | growth | next year pickup growth  |
| growth | percent growth next year pickup | growth | Â ½ percent per year |
| growth | russian author see optimist path | growth | percent medium turn europ growth |
| growth | growth percent medium turn europ | growth | also expect modest next two |
| also | percent medium turn europ growth | also | expect modest next two year |
| market | mediumterm around percent china emerg | market | import armenia commod export metal |
| growth | armenia commod export metal miner | growth | countri expect slow import advanc |
| countri | commod export metal miner growth | countri | expect slow import advanc emerg |
| economi | expect slow import advanc emerg | economi | sign potenti growth may decreas |
| growth | advanc emerg economi sign potenti | growth | may decreas potenti growth expect |
| growth | potenti growth may decreas potenti | growth | expect growth rate medium term |
| growth | may decreas potenti growth expect | growth | rate medium term base expect |
| growth | labor capit product gain potenti | growth | expect lower low generat job |
| growth | declin year flat slight posit | growth | next year growth around  |
| growth | slight posit growth next year | growth | around  ½ percent medium |
| need | standard reduc debt forc reform | need | make armenian economi open effici |
| economi | forc reform need make armenian | economi | open effici dynam connect region |
| global | open effici dynam connect region | global | economi critic area decis leadership |
| economi | effici dynam connect region global | economi | critic area decis leadership let |
| need | front engag creativ decis leadership | need | along collect action skill enlighten |
| growth | prepar respond challeng outlin slow | growth | complex geopolit global transformationsa mention |
| global | outlin slow growth complex geopolit | global | transformationsa mention global financi crisi |
| global | complex geopolit global transformationsa mention | global | financi crisi current extern shock |
| polici | armenian author pursu sound macroeconom | polici | avoid major polici mistak import |
| polici | sound macroeconom polici avoid major | polici | mistak import buffer like foreign |
| financ | armenia made great use concession | financ | import econom transform underway past |
| econom | great use concession financ import | econom | transform underway past year main |
| growth | underway past year main driver | growth | chang agricultur show sign vital |
| financ | output outdat equip limit access | financ | low product standard target provis |
| market | membership eurasian union provid big | market | food export tourism servic also |
| also | market food export tourism servic | also | grow tourism benefit liber aviat |
| polici | liber aviat govern open sky | polici | mine remain import growth driver |
| growth | sky polici mine remain import | growth | driver year new copper mine |
| financ | mine develop project requir substanti | financ | strong sens polici stabil strong |
| polici | requir substanti financ strong sens | polici | stabil strong polici framework ensur |
| polici | strong sens polici stabil strong | polici | framework ensur mine activ damag |
| growth | activ damag environ emerg new | growth | driver gradual growth less decad |
| growth | emerg new growth driver gradual | growth | less decad ago averag percent |
| polici | new skill contact contrast macroeconom | polici | armenia struggl slow pace structur |
| countri | slow pace structur reform like | countri | region armenian economi open contest |
| economi | reform like countri region armenian | economi | open contest transpar greater competit |
| market | ensur effici avoid abus strong | market | posit progress made improv busi |
| countri | busi environ armenia rank th | countri | world bank busi rank rank |
| countri | bank busi rank rank th | countri | global competit rank world econom |
| global | busi rank rank th countri | global | competit rank world econom forum |
| econom | countri global competit rank world | econom | forum score line eurasian econom |
| econom | econom forum score line eurasian | econom | union countri well behind central |
| countri | score line eurasian econom union | countri | well behind central eastern europ |
| market | eu membership proxim suppli chain | market | armenia move forward aggress make |
| growth | area critic high sustain inclus | growth | road health educ note armenian |
| economi | road health educ note armenian | economi | open transpar public spend focus |
| global | lead lower cost competit region | global | integr resili shock innov growth |
| growth | global integr resili shock innov | growth | job mean leadership leader armenia |
| countri | geograph challeng armenia small landlock | countri | touch neighborhood obstacl easi overcom |
| growth | partner face long period slow | growth | europ china emerg partner last |
| growth | emerg partner last decad slow | growth | armenia good enough good enough |
| need | leadership welltrain wellinform dedic individu | need | across polit econom issu although |
| econom | dedic individu need across polit | econom | issu although unemploy high armenian |
| need | search opportun skill shortag acut | need | talent leader manag public privat |
| polici | seiz opportun armenia sound macroeconom | polici | provid strong platform success capabl |
| growth | agricultur servic light industri drive | growth | sector other need talent leader |
| need | industri drive growth sector other | need | talent leader manag skill enlighten |
| need | leader manag skill enlighten leader | need | public administr health educ transport |
| financ | tax administr manag public spend | financ | manag oversight financi sector mention |
| econom | aris tradit place russia eurasian | econom | union countri caucasus central asian |
| countri | place russia eurasian econom union | countri | caucasus central asian countri also |
| countri | union countri caucasus central asian | countri | also aris europ north america |
| also | countri caucasus central asian countri | also | aris europ north america come |
| global | singl entrepreneur would develop secur | global | payment system cuttingedg electr car |
| need | current leader strong decis effort | need | build sound macroeconom perform improv |
| economi | perform improv busi environ open | economi | integr close region global help |
| global | open economi integr close region | global | help armenia new leader folk |
| countri | take risk assum mantl leadership | countri | imf close partner armenia past |
| polici | stand readi commit continu support | polici | reform effort thank shnorha kalutsyun |
| also | grow excess inequ back headlin | also | becom problem econom growth develop |
| econom | back headlin also becom problem | econom | growth develop would like take |
| growth | headlin also becom problem econom | growth | develop would like take econom |
| econom | growth develop would like take | econom | perspect tonight focus gorgeous yacht |
| econom | would call small boat livelihood | econom | aspir poor middl class mani |
| countri | aspir poor middl class mani | countri | econom growth fail lift small |
| econom | poor middl class mani countri | econom | growth fail lift small boat |
| growth | middl class mani countri econom | growth | fail lift small boat gorgeous |
| need | one defin issu time one | need | diagnosi cure key messag tonight |
| econom | boat moral polit correct good | econom | altruist support polici lift incom |
| polici | correct good econom altruist support | polici | lift incom poor middl class |
| polici | poor middl class everybodi benefit | polici | essenti generat higher inclus sustain |
| growth | essenti generat higher inclus sustain | growth | word want see durabl growth |
| growth | growth word want see durabl | growth | need generat equit growth mind |
| need | word want see durabl growth | need | generat equit growth mind would |
| growth | durabl growth need generat equit | growth | mind would like focus three |
| global | would like focus three issu | global | econom weather help muchlet start |
| econom | like focus three issu global | econom | weather help muchlet start describ |
| global | weather help muchlet start describ | global | econom weather map see accord |
| econom | help muchlet start describ global | econom | weather map see accord imf |
| global | see accord imf spring forecast | global | economi grow percent year last |
| economi | accord imf spring forecast global | economi | grow percent year last year |
| economi | year last year percent advanc | economi | slight better last year us |
| economi | fiscal structur forecast emerg develop | economi | slight wors last year main |
| growth | divers nation trend still strong | growth | india recess brazil russia good |
| global | brazil russia good news remain | global | recoveri continu growth remain moder |
| growth | news remain global recoveri continu | growth | remain moder overal uneven across |
| countri | remain moder overal uneven across | countri | year beyond second half decad |
| growth | share notsogood news view imf | growth | potenti advanc emerg economi like |
| economi | imf growth potenti advanc emerg | economi | like lower year come part |
| market | product concern bring challeng labor | market | lesssolid public financ slower improv |
| financ | challeng labor market lesssolid public | financ | slower improv live standard new |
| need | inequalityth short answer hope see | need | step back look global pictur |
| global | see need step back look | global | pictur zoom countri level imagin |
| countri | back look global pictur zoom | countri | level imagin line world popul |
| global | look chang lineup time notic | global | incom inequ inequ countri actual |
| countri | notic global incom inequ inequ | countri | actual fallen steadili past decad |
| market | past decad averag incom emerg | market | economi china india risen much |
| economi | decad averag incom emerg market | economi | china india risen much faster |
| countri | india risen much faster richer | countri | show transform power intern trade |
| global | power intern trade invest massiv | global | flow product servic peopl knowledg |
| global | servic peopl knowledg idea good | global | equal incom need reduc gap |
| need | idea good global equal incom | need | reduc gap countri big also |
| countri | equal incom need reduc gap | countri | big also seen grow incom |
| also | need reduc gap countri big | also | seen grow incom inequ within |
| countri | seen grow incom inequ within | countri | past two decad inequ incom |
| economi | inequ incom risen substanti advanc | economi | major emerg market economi especi |
| market | substanti advanc economi major emerg | market | economi especi asia eastern europ |
| economi | advanc economi major emerg market | economi | especi asia eastern europ advanc |
| economi | especi asia eastern europ advanc | economi | exampl top percent popul account |
| global | togeth see strike diverg posit | global | trend most negat trend within |
| countri | trend most negat trend within | countri | china exampl sharp end trend |
| global | china made remark contribut greater | global | equal incom process becom one |
| economi | top level chines societi fact | economi | like china india seem fit |
| econom | extrem inequ accept price pay | econom | growth much like air pollut |
| growth | inequ accept price pay econom | growth | much like air pollut may |
| countri | new consensusbut grow new consensus | countri | accept faustian tradeoff exampl analysi |
| econom | excess incom inequ actual drag | econom | growth rate make growth less |
| growth | incom inequ actual drag econom | growth | rate make growth less sustain |
| growth | drag econom growth rate make | growth | less sustain time earlier week |
| need | provid hard number key messag | need | lift small boat generat stronger |
| growth | small boat generat stronger durabl | growth | research show lift incom share |
| growth | middl class percentag point gdp | growth | increas much percentag point countri |
| countri | growth increas much percentag point | countri | five year contrast lift incom |
| growth | share rich percentag point gdp | growth | decreas percentag point one possibl |
| growth | could reduc aggreg demand undermin | growth | word find suggest contrari convent |
| growth | poor middl class main engin | growth | unfortun engin stall recent oecd |
| economi | poor lower middl class advanc | economi | fall relat rest popul kind |
| growth | popul kind inequ hold back | growth | discourag invest skill human capit |
| economi | lead lower product larg part | economi | driver excess inequalityso consequ excess |
| global | well known technolog progress financi | global | two factor tend widen earn |
| economi | higher lowerskil individu especi advanc | economi | anoth factor overreli financ major |
| financ | advanc economi anoth factor overreli | financ | major economi unit state japan |
| economi | anoth factor overreli financ major | economi | unit state japan cours financ |
| financ | economi unit state japan cours | financ | especi credit essenti prosper societi |
| financ | evid includ imf staff much | financ | distort distribut incom corrod polit |
| econom | incom corrod polit process undermin | econom | stabil growth emerg develop economi |
| growth | polit process undermin econom stabil | growth | emerg develop economi extrem incom |
| economi | econom stabil growth emerg develop | economi | extrem incom inequ larg driven |
| economi | mobil recent studi shown advanc | economi | lower level mobil across generat |
| countri | tend higher level incom inequ | countri | parent incom major determin children |
| need | incom suggest want move societi | need | grow right side track doesn |
| economi | incom build wealth word pope | economi | exclus polici stronger inclus sustain |
| polici | wealth word pope economi exclus | polici | stronger inclus sustain growthpolicymak view |
| growth | boat recip stronger inclus sustain | growth | countri first prioriti number one |
| countri | recip stronger inclus sustain growth | countri | first prioriti number one item |
| polici | macroeconom stabil appli good monetari | polici | indulg fiscal indisciplin allow public |
| growth | debt balloon bound see slower | growth | rise inequ greater econom financi |
| econom | slower growth rise inequ greater | econom | financi instabl sound macroeconom polici |
| polici | econom financi instabl sound macroeconom | polici | poor best friend good govern |
| econom | exampl strong indic profound social | econom | inequ second prioriti prudenc know |
| need | second prioriti prudenc know action | need | taken reduc excess inequ also |
| also | need taken reduc excess inequ | also | know certain level inequ healthi |
| polici | driver prosper next prioriti adjust | polici | countryspecif driver inequ includ polit |
| polici | cultur institut set onesizefitsal smart | polici | potenti game changer could help |
| polici | potenti game changer smart fiscal | polici | challeng design tax spend measur |
| countri | known carri interest mani european | countri | also mean reduc high labor |
| also | carri interest mani european countri | also | mean reduc high labor tax |
| economi | health care mani emerg develop | economi | mean reduc energi subsidi cost |
| also | year promot greater equal effici | also | mean reli socal condit cash |
| countri | contribut signific reduct incom inequ | countri | brazil chile mexico recent visit |
| polici | structur reformsin addit smart fiscal | polici | anoth potenti game changer smart |
| market | area educ health care labor | market | infrastructur financi inclus structur reform |
| econom | structur reform essenti lift potenti | econom | growth boost incom live standard |
| growth | reform essenti lift potenti econom | growth | boost incom live standard medium |
| global | skill abil har technolog chang | global | world higher incom requir higher |
| polici | incom requir higher human capit | polici | bring togeth teacher student st |
| economi | access onlin resourc emerg develop | economi | need promot equal access basic |
| need | onlin resourc emerg develop economi | need | promot equal access basic educ |
| economi | equal access basic educ advanc | economi | need focus qualiti afford univers |
| need | access basic educ advanc economi | need | focus qualiti afford univers educ |
| countri | qualiti afford univers educ even | countri | highest educ standard anoth import |
| market | standard anoth import tool labor | market | reform think wellcalibr minimum wage |
| polici | reform think wellcalibr minimum wage | polici | support job search skill match |
| countri | protect worker rather job nordic | countri | exampl worker limit job protect |
| market | new posit model make labor | market | flexibl good growth safeguard interest |
| growth | make labor market flexibl good | growth | safeguard interest worker labor market |
| market | growth safeguard interest worker labor | market | reform also import gender dimens |
| also | interest worker labor market reform | also | import gender dimens across globe |
| countri | men even level educ occup | countri | like chile netherland shown sharpli |
| polici | femal labor forc particip smart | polici | emphas afford childcar matern leav |
| also | childcar matern leav workplac flexibl | also | need remov legal barrier tax |
| need | matern leav workplac flexibl also | need | remov legal barrier tax discrimin |
| countri | continu hold back women mani | countri | worldwid million women potenti contribut |
| economi | million women potenti contribut fulli | economi | messag clear care greater share |
| need | clear care greater share prosper | need | unleash econom power women also |
| econom | greater share prosper need unleash | econom | power women also need foster |
| also | need unleash econom power women | also | need foster greater financi inclus |
| need | unleash econom power women also | need | foster greater financi inclus especi |
| economi | greater financi inclus especi develop | economi | think microcredit initi turn poor |
| economi | financi servic poor famili develop | economi | invest health educ lead higher |
| economi | reduc excess incom inequ develop | economi | need increas financi equal conclusional |
| need | excess incom inequ develop economi | need | increas financi equal conclusional polici |
| polici | need increas financi equal conclusional | polici | reform requir leadership courag collabor |
| need | bold last action particular policymak | need | take advantag think onceina generat |
| financ | n confer next month tri | financ | ambiti new develop agenda decemb |
| countri | new develop agenda decemb leader | countri | meet pari seek agreement comprehens |
| need | chang mani cynic voic question | need | action area declar defeat well |
| global | abl look back say reenerg | global | econom growth reach histor agreement |
| econom | look back say reenerg global | econom | growth reach histor agreement climat |
| growth | back say reenerg global econom | growth | reach histor agreement climat chang |
| financ | develop agenda ambiti goal solid | financ | issu see import role imf |
| global | role imf key mandat promot | global | econom financi stabil deepli involv |
| econom | imf key mandat promot global | econom | financi stabil deepli involv develop |
| countri | deepli involv develop help member | countri | design implement polici lend countri |
| polici | help member countri design implement | polici | lend countri time distress get |
| countri | countri design implement polici lend | countri | time distress get back feet |
| countri | feet subsaharan africa exampl mani | countri | appli sound macroeconom polici past |
| polici | mani countri appli sound macroeconom | polici | past decad reap benefit form |
| growth | decad reap benefit form stronger | growth | higher live standard imf support |
| financ | instrument zerointerest loan well increas | financ | capac build also step research |
| also | well increas financ capac build | also | step research inequ gender climaterel |
| countri | might increas access loan develop | countri | help buffer extern shock particular |
| countri | increas focus help poorest fragil | countri | consid latest migrant tragedi mediterranean |
| economi | remind extrem inequ wealth incom | economi | exclus stare us right face |
| economi | class build fairer societi stronger | economi | togeth creat greater share prosper |
| growth | thank imf note redistribut inequ | growth | imf note caus consequ incom |
| growth | show point financi develop damag | growth | imf work paper recent bis |
| financ | bis paper argu possibl much | financ | apostol exhort pope command thou |
| also | safeguard valu human life today | also | say thou shalt economi exclus |
| economi | today also say thou shalt | economi | exclus inequ half rich world |
| market | nordic model imf note labor | market | polici imf paper job growth |
| polici | model imf note labor market | polici | imf paper job growth |
| growth | market polici imf paper job | growth | |
| also | world resourc institut host event | also | thank staff help us process |
| growth | climat chang impact macroeconom stabil | growth | case issu macrocrit imf play |
| polici | play import role help shape | polici | go talk today someth new |
| need | grow water challeng shine light | need | proper water price ll touch |
| polici | third issu water price fourth | polici | instrument institut manag water challeng |
| econom | one first thing learn introductori | econom | diamond water paradox professor ask |
| also | access right general presumpt price | also | wellintent ultim misguid idea charg |
| need | infrastructur technolog meet futur water | need | ensur water secur import enough |
| growth | secur import enough lead macroeconom | growth | underperform economi need get price |
| economi | enough lead macroeconom growth underperform | economi | need get price right seen |
| need | lead macroeconom growth underperform economi | need | get price right seen countri |
| countri | need get price right seen | countri | experi around globe let start |
| also | modern agricultur techniqu green revolut | also | depend upon adequ water suppli |
| polici | reduc depend farmer rainfal mani | polici | mistak follow year sinc includ |
| also | free heavili subsid electr irrig | also | play havoc financ electr util |
| financ | electr irrig also play havoc | financ | electr util becom major fiscal |
| countri | human use technolog gain advanc | countri | help eas freshwat suppli constraint |
| global | constraint technolog remain expens addit | global | stock freshwat also uneven distribut |
| also | expens addit global stock freshwat | also | uneven distribut percent usabl freshwat |
| countri | percent usabl freshwat suppli found | countri | exampl per capita basi freshwat |
| also | fraction latin america water suppli | also | subject variat high variabl water |
| need | add challeng ensur water avail | need | draw wri aqueduct databas chart |
| countri | season flood occurr drought sever | countri | territori least one aspect high |
| countri | high variabl one south korea | countri | vulner high water variabl least |
| countri | variabl least two aspect develop | countri | mani countri face high water |
| countri | two aspect develop countri mani | countri | face high water variabl invest |
| countri | low storag capac particular lowincom | countri | eritrea niger water resourc becom |
| countri | infrastructur weak institut chart plot | countri | along two dimens water scarciti |
| econom | water use relat water suppli | econom | water scarciti lack access water |
| countri | water scarciti lack access water | countri | face differ water challeng mani |
| countri | face differ water challeng mani | countri | middl east alreadi experi high |
| countri | reflect arid climat mani lowincom | countri | notabl subsaharan african countri group |
| countri | lowincom countri notabl subsaharan african | countri | group low stress low access |
| countri | group access water improv sixteen | countri | emerg market develop countri face |
| market | water improv sixteen countri emerg | market | develop countri face dual challeng |
| countri | sixteen countri emerg market develop | countri | face dual challeng improv water |
| countri | alreadi high water stress advanc | countri | spare either even countri water |
| countri | advanc countri spare either even | countri | water stress low countri level |
| countri | even countri water stress low | countri | level pocket high stress exist |
| countri | pocket high stress exist within | countri | shown high region water variabl |
| countri | dot u case point intuit | countri | endow water resourc use water |
| econom | endow water resourc use water | econom | activ reflect compar advantag chart |
| countri | stress suppli constraint seem lead | countri | econom water use quit strike |
| econom | suppli constraint seem lead countri | econom | water use quit strike waterstress |
| countri | water use quit strike waterstress | countri | middl east central asia among |
| growth | expect grow line popul incom | growth | particular develop countri time suppli |
| countri | popul incom growth particular develop | countri | time suppli may easili increas |
| polici | increas competit water resourc call | polici | instrument signal scarciti help ration |
| countri | water public water util mani | countri | charg price fraction cost recoveri |
| global | subsidi larg region estim suggest | global | water subsidi total us billion |
| global | subsidi total us billion percent | global | gdp see chart countri middl |
| countri | percent global gdp see chart | countri | middl east north africa develop |
| countri | Â ½ percent gdp overal | countri | subsidi high percent gdp water |
| need | subsidi substanti fiscal burden crowd | need | spend troubl often report transpar |
| need | turn lead lack mainten underinvest | need | infrastructur beyond fiscal burden water |
| need | subsidi often cover use beyond | need | extend suffici incom pay cost |
| countri | most benefit upperincom group develop | countri | poor often limit access water |
| economi | requir access see select lowincom | economi | poorest percent popul receiv averag |
| also | receiv almost percent benefit subsidi | also | appear less inequit emerg market |
| market | also appear less inequit emerg | market | economi though averag mask import |
| economi | appear less inequit emerg market | economi | though averag mask import differ |
| countri | averag mask import differ across | countri | exampl poorest receiv percent subsidi |
| countri | subsidi impos larg fiscal burden | countri | water subsidi found exceed total |
| countri | discuss import note natur waterdefici | countri | singapor burkina faso abl overcom |
| polici | overcom water challeng result sound | polici | institut burkina faso introduc progress |
| also | reform sinc mid burkina faso | also | invest extens water collect storag |
| growth | one uniqu innov bagrà © | growth | pole thirti year ago riverbank |
| econom | nakanab river adopt strategi encourag | econom | activ area today river surround |
| countri | privat sector generat employ singapor | countri | high water stress manag overcom |
| countri | intern hub waterrel research today | countri | home local intern water compani |
| also | compani research develop center singapor | also | employ price polici aim discourag |
| polici | center singapor also employ price | polici | aim discourag excess use water |
| countri | fullest extent possibl unlik mani | countri | domest nondomest user face base |
| also | target help lowincom famili consum | also | charg flat waterborn fee offset |
| also | meant includ cost deliv water | also | cost mainten infrastructur invest reform |
| also | cost mainten infrastructur invest reform | also | design way ensur water access |
| also | charg privat vendor regulatori reform | also | help ration demand water alloc |
| polici | effici water consumpt requir reform | polici | drive water use direct indirect |
| countri | percent water withdrawn shown chart | countri | low price diesel fuel exampl |
| countri | water agricultur use last least | countri | studi show reform much like |
| countri | word imf help imf ensur | countri | macroeconom polici conduc sound water |
| polici | help imf ensur countri macroeconom | polici | conduc sound water manag first |
| growth | help assess impact water challeng | growth | macrost imf encourag macroeconom polici |
| polici | growth macrost imf encourag macroeconom | polici | get incent right replac pervers |
| polici | target social support design macroeconom | polici | creat fiscal space use simpler |
| financ | use simpler term audienc catalyz | financ | imf help countri increas waterrel |
| countri | audienc catalyz financ imf help | countri | increas waterrel invest improv access |
| countri | strengthen resili suppli variabl advis | countri | strengthen public invest manag system |
| need | help ration water use promot | need | invest protect poor second desir |
| countri | approach reform water price vari | countri | countri depend access poor exist |
| countri | reform water price vari countri | countri | depend access poor exist water |
| polici | fiscal forum would like thank | polici | research institut japan ministri financ |
| financ | polici research institut japan ministri | financ | asian develop bank institut colleagu |
| polici | facilit exchang among highlevel asian | polici | maker academ key fiscal polici |
| polici | polici maker academ key fiscal | polici | issu affect asian economi let |
| economi | fiscal polici issu affect asian | economi | let explain think initi time |
| global | think initi time import start | global | econom outlook examin issu agenda |
| econom | initi time import start global | econom | outlook examin issu agenda confer |
| global | outlook examin issu agenda confer | global | outlooknear eight year global financi |
| global | confer global outlooknear eight year | global | financi crisi global growth still |
| global | eight year global financi crisi | global | growth still modest despit boost |
| growth | year global financi crisi global | growth | still modest despit boost growth |
| growth | growth still modest despit boost | growth | declin oil price fund april |
| econom | oil price fund april world | econom | outlook saw world economi expand |
| economi | world econom outlook saw world | economi | expand percent year pick percent |
| growth | percent year pick percent although | growth | year stronger mediumterm prospect less |
| economi | mediumterm prospect less optimist advanc | economi | especi emerg market econom activ |
| market | optimist advanc economi especi emerg | market | econom activ slow sinc cours |
| econom | advanc economi especi emerg market | econom | activ slow sinc cours includ |
| market | sinc cours includ big emerg | market | countri region nonetheless outlook asia |
| countri | cours includ big emerg market | countri | region nonetheless outlook asia remain |
| countri | grow world far mani asian | countri | share experi success exportl industri |
| countri | birth rate shrink labor forc | countri | caus econom growth drop sound |
| econom | shrink labor forc countri caus | econom | growth drop sound fiscal manag |
| growth | labor forc countri caus econom | growth | drop sound fiscal manag becom |
| countri | base undermin fiscal sound host | countri | japan struggl sluggish growth high |
| growth | host countri japan struggl sluggish | growth | high public debt part reason |
| growth | face similar challeng therefor sustain | growth | momentum longterm prosper polici maker |
| polici | sustain growth momentum longterm prosper | polici | maker asia need put greater |
| need | longterm prosper polici maker asia | need | put greater emphasi growthfriend fiscal |
| polici | put greater emphasi growthfriend fiscal | polici | mean take design public spend |
| polici | take design public spend revenu | polici | serious growthfriend fiscal policyon spend |
| also | make end meet control spend | also | need recogn benefit alloc public |
| need | end meet control spend also | need | recogn benefit alloc public resourc |
| growth | public spend close link inclus | growth | spend area infrastructur educ healthcar |
| growth | social safeti net lift longterm | growth | increas physic human capit enhanc |
| growth | side welldesign tax structur enhanc | growth | minim distort work invest common |
| polici | confer themesthes element growthfriend fiscal | polici | relev deleg room today lead |
| countri | first concern social spend asian | countri | coverag public pension healthcar servic |
| also | rule keep fiscal sound prerequisit | also | import design social spend achiev |
| growth | social spend achiev longterm inclus | growth | minim distort work enhanc human |
| countri | relat revenu mobil mani asian | countri | tax revenu low level compar |
| countri | infrastructur third crucial issu emerg | countri | includ india infrastructur bottleneck mediumterm |
| growth | mediumterm concern recogn constraint nearterm | growth | lowincom countri poor infrastructur remain |
| countri | recogn constraint nearterm growth lowincom | countri | poor infrastructur remain impedi develop |
| polici | develop close infrastructur gap key | polici | prioriti also substanti scope improv |
| also | infrastructur gap key polici prioriti | also | substanti scope improv effici spend |
| need | practic scale public invest effort | need | improv effici strengthen institut fourth |
| polici | final point relat anchor fiscal | polici | manag fiscal risk includ subnat |
| countri | fiscal anchor differ level within | countri | need improv monitor manag fiscal |
| need | anchor differ level within countri | need | improv monitor manag fiscal risk |
| polici | support effort design improv fiscal | polici | return home imf commit cooper |
| economi | home imf commit cooper asian | economi | front look forward ongo interact |
| polici | bank korea invit discuss monetari | polici | challeng global interest rate normal |
| global | invit discuss monetari polici challeng | global | interest rate normal recent year |
| global | forum discuss issu arisen sinc | global | financi crisi sure year confer |
| polici | risk challeng lie ahead monetari | polici | normal unit state especi emerg |
| market | normal unit state especi emerg | market | economi polici advanc emerg market |
| economi | unit state especi emerg market | economi | polici advanc emerg market economi |
| polici | state especi emerg market economi | polici | advanc emerg market economi help |
| market | market economi polici advanc emerg | market | economi help mitig risk challeng |
| economi | economi polici advanc emerg market | economi | help mitig risk challeng implic |
| polici | mitig risk challeng implic monetari | polici | new normal say crisi final |
| need | us particular highlight area work | need | done better understand chang polici |
| polici | need done better understand chang | polici | environ monetari normal risk challengeslet |
| polici | risk challengeslet begin place monetari | polici | normal unit state global econom |
| global | monetari polici normal unit state | global | econom context near eight year |
| econom | polici normal unit state global | econom | context near eight year global |
| global | econom context near eight year | global | financi crisi global growth still |
| global | eight year global financi crisi | global | growth still modest disinflationari pressur |
| growth | year global financi crisi global | growth | still modest disinflationari pressur remain |
| growth | disinflationari pressur remain despit boost | growth | declin oil price fund april |
| econom | oil price fund april world | econom | outlook saw global economi expand |
| global | april world econom outlook saw | global | economi expand percent year pick |
| economi | world econom outlook saw global | economi | expand percent year pick percent |
| global | releas earli juli assess implic | global | recoveri moreov growth diverg across |
| growth | assess implic global recoveri moreov | growth | diverg across countri region u |
| countri | recoveri moreov growth diverg across | countri | region u recoveri continu although |
| growth | slower pace year origin forecast | growth | euro area japan expect pick |
| econom | area japan expect pick contrast | econom | perform mani part world fall |
| market | world fall short expect emerg | market | growth declin fifth year row |
| growth | fall short expect emerg market | growth | declin fifth year row emerg |
| economi | fifth year row emerg develop | economi | continu account larg share global |
| global | economi continu account larg share | global | growth see sign emerg market |
| growth | continu account larg share global | growth | see sign emerg market rebound |
| market | global growth see sign emerg | market | rebound next year respons outlook |
| polici | next year respons outlook monetari | polici | across major economi becom asynchron |
| economi | outlook monetari polici across major | economi | becom asynchron unconvent monetari eas |
| also | euro area japan inflat subdu | also | mani smaller advanc economi emerg |
| economi | subdu also mani smaller advanc | economi | emerg market economi eas monetari |
| market | mani smaller advanc economi emerg | market | economi eas monetari polici recent |
| economi | smaller advanc economi emerg market | economi | eas monetari polici recent develop |
| polici | emerg market economi eas monetari | polici | recent develop contrast continu movement |
| need | give rise disord portfolio rebalanc | need | recal socal taper tantrum get |
| polici | could work role policythi bring | polici | respons want emphas normal like |
| countri | normal like differ effect differ | countri | won singl polici respons import |
| polici | effect differ countri won singl | polici | respons import point capit outflow |
| polici | consequ financi open integr major | polici | concern everi time occur normal |
| global | everi time occur normal chang | global | economi financi market produc outflow |
| economi | time occur normal chang global | economi | financi market produc outflow said |
| market | normal chang global economi financi | market | produc outflow said unusu larg |
| polici | sustain sudden outflow pose signific | polici | challeng even absenc crisi consequ |
| polici | capit outflow continu communic clear | polici | intent discuss length sinc believ |
| economi | issu moreov author larg advanc | economi | also part nip financi stabil |
| also | moreov author larg advanc economi | also | part nip financi stabil risk |
| polici | bud main appropri micro macroprudenti | polici | emerg market economi import need |
| market | appropri micro macroprudenti polici emerg | market | economi import need continu strengthen |
| economi | micro macroprudenti polici emerg market | economi | import need continu strengthen macroeconom |
| need | polici emerg market economi import | need | continu strengthen macroeconom fundament polici |
| polici | need continu strengthen macroeconom fundament | polici | framework build import work recent |
| countri | year work done imf suggest | countri | sound macroeconom fundament seen smaller |
| market | sound macroeconom fundament seen smaller | market | reaction monetari polici spillov advanc |
| polici | seen smaller market reaction monetari | polici | spillov advanc economi particular higher |
| economi | reaction monetari polici spillov advanc | economi | particular higher gdp growth stronger |
| growth | advanc economi particular higher gdp | growth | stronger current account posit lower |
| market | posit lower inflat liquid financi | market | help contain market volatil also |
| market | liquid financi market help contain | market | volatil also becom increas import |
| also | market help contain market volatil | also | becom increas import emerg market |
| market | also becom increas import emerg | market | implement structur reform promot strong |
| growth | reform promot strong sustain balanc | growth | stronger fundament turn best achiev |
| polici | sound fiscal monetari exchang rate | polici | time emerg economi need ensur |
| economi | exchang rate polici time emerg | economi | need ensur financi system resili |
| need | rate polici time emerg economi | need | ensur financi system resili asset |
| market | asset price volatil sudden declin | market | liquid vigil macroprudenti stanc first |
| countri | stanc first line defens particular | countri | high foreign currenc debt vulner |
| need | level regular monitor stress test | need | assess foreign currenc risk especi |
| market | posit whether hedg specul react | market | volatil disord outflow emerg central |
| need | outflow emerg central bank govern | need | fulli prepar respond quick financi |
| polici | target liquid support chang prudenti | polici | macroeconom polici mix calibr support |
| polici | support chang prudenti polici macroeconom | polici | mix calibr support extern adjust |
| polici | rate depreci chang monetari fiscal | polici | stanc appropri polici mix depend |
| polici | monetari fiscal polici stanc appropri | polici | mix depend specif circumst countri |
| countri | polici mix depend specif circumst | countri | macroeconom financi look forward hear |
| polici | strong fundament combin decis swift | polici | action help countri reduc cope |
| countri | decis swift polici action help | countri | reduc cope market volatil remark |
| market | action help countri reduc cope | market | volatil remark effect step taken |
| also | capit flow manag measur could | also | use measur substitut macroeconom adjust |
| also | function intern monetari system imf | also | see potenti import role intern |
| polici | see potenti import role intern | polici | coordin safeti net alway stand |
| also | advic support central bank collabor | also | import exampl provid foreign currenc |
| global | currenc swap line earli stage | global | financi crisi spillov spillback threaten |
| global | financi crisi spillov spillback threaten | global | financi stabil closer coordin imf |
| financ | stabil closer coordin imf region | financ | agreement would help could greater |
| countri | help could greater share across | countri | area polici think conting plan |
| polici | greater share across countri area | polici | think conting plan monetari polici |
| polici | polici think conting plan monetari | polici | new normalnow last point today |
| polici | point today consider drive monetari | polici | new normal recent crise fulli |
| need | macroeconom financi stabil wide recogn | need | done limit system financi risk |
| polici | limit system financi risk macroprudenti | polici | main tool job macroprudenti polici |
| polici | polici main tool job macroprudenti | polici | enough monetari polici also need |
| polici | job macroprudenti polici enough monetari | polici | also need use limit systemwid |
| also | macroprudenti polici enough monetari polici | also | need use limit systemwid financi |
| need | polici enough monetari polici also | need | use limit systemwid financi risk |
| polici | yet complet answer know macroprudenti | polici | remedi ill exampl effect may |
| countri | hamper leakag may occur within | countri | shift financi activ regul less |
| also | financi activ regul less regul | also | may occur across countri financi |
| countri | regul also may occur across | countri | financi market particip gravit less |
| market | may occur across countri financi | market | particip gravit less regul jurisdict |
| polici | regul jurisdict moreov effect macroprudenti | polici | may suffer owe institut shortcom |
| polici | shortcom polit reason call monetari | polici | support financi stabil sometim lean |
| polici | oblig implement unpopular financi stabil | polici | may invit polit interfer could |
| countri | one size fit solut problem | countri | decid keep monetari polici separ |
| polici | problem countri decid keep monetari | polici | separ macroprudenti polici reli interag |
| polici | keep monetari polici separ macroprudenti | polici | reli interag committe coordin two |
| polici | assign respons central bank separ | polici | committe improv transpar account conclusionlet |
| polici | transpar account conclusionlet conclud monetari | polici | normal unit state come even |
| need | membership address relat challeng still | need | better understand transmiss spillov think |
| need | better understand transmiss spillov think | need | impli polici option much look |
| polici | transmiss spillov think need impli | polici | option much look forward continu |
| countri | sure confer provid new insight | countri | navig unchart water lead new |
| polici | imf fifteenth annual intern confer | polici | challeng financi sector june prepar |
| global | year fund activ engag forum | global | convers among policymak key issu |
| polici | meet host highlevel event macroprudenti | polici | bring togeth policymak supervisor advanc |
| economi | togeth policymak supervisor advanc emerg | economi | compar note polici implement spillov |
| polici | advanc emerg economi compar note | polici | implement spillov confer anoth import |
| need | de larosià ¨ r regul | need | better regul sure import progress |
| countri | financi stabil still wellentrench advanc | countri | risk rise emerg economi mani |
| economi | advanc countri risk rise emerg | economi | mani advanc countri financi system |
| countri | rise emerg economi mani advanc | countri | financi system part support reviv |
| econom | financi system part support reviv | econom | activ agenda regul supervisor far |
| global | first assess key issu risk | global | economi financi stabil ii second |
| economi | assess key issu risk global | economi | financi stabil ii second polici |
| polici | economi financi stabil ii second | polici | prioriti address risk iii third |
| global | supervisor regul promot financi stabil | global | outlook modest recoveri rise financi |
| global | financi stabil riskslet begin outlook | global | economi financi stabil overal discuss |
| economi | stabil riskslet begin outlook global | economi | financi stabil overal discuss latest |
| econom | stabil overal discuss latest world | econom | outlook global recoveri remain modest |
| global | discuss latest world econom outlook | global | recoveri remain modest uneven global |
| global | global recoveri remain modest uneven | global | growth project percent year rough |
| growth | recoveri remain modest uneven global | growth | project percent year rough pace |
| growth | rough pace last year pace | growth | good enough certain million current |
| global | unemploy around world time latest | global | financi stabil report find risk |
| market | risk migrat bank nonbank solvenc | market | liquid risk advanc emerg economi |
| economi | market liquid risk advanc emerg | economi | specif financi system mani emerg |
| market | specif financi system mani emerg | market | economi potenti vulner rise u |
| economi | financi system mani emerg market | economi | potenti vulner rise u interest |
| countri | rise u interest rate sever | countri | busi may find wedg strong |
| economi | heighten volatil say risk advanc | economi | complet disappear one undesir side |
| polici | side effect diverg stanc monetari | polici | major economi exampl sign liquid |
| economi | diverg stanc monetari polici major | economi | exampl sign liquid risk may |
| market | sign liquid risk may underpr | market | potenti becom system problem polici |
| polici | market potenti becom system problem | polici | revers persist low even negat |
| also | negat interest rate environ could | also | put pressur balanc sheet life |
| need | standard nonbank side remain patchi | need | strong attent implement supervis yet |
| growth | regulatori matter tough especi good | growth | hard find growth jobrich inclus |
| growth | especi good growth hard find | growth | jobrich inclus sever way disconnect |
| econom | sever way disconnect financi exuber | econom | weak still us today think |
| market | loan even though leverag loan | market | still relat small part u |
| market | relat small part u credit | market | pose immedi system threat sector |
| need | underwrit could pose problem road | need | regul need smart regul smart |
| need | pose problem road need regul | need | smart regul smart regul financi |
| economi | publish studi financi develop emerg | economi | better serv need economi societi |
| need | develop emerg economi better serv | need | economi societi larg let highlight |
| economi | emerg economi better serv need | economi | societi larg let highlight two |
| financ | find first find thing much | financ | gain growth stabil financi deepen |
| growth | find thing much financ gain | growth | stabil financi deepen larg limit |
| countri | tip point although point depend | countri | specif incom level regulatori supervisori |
| economi | financi stabil question becom emerg | economi | enter zone much financ answer |
| financ | emerg economi enter zone much | financ | answer let give number end |
| economi | let give number end advanc | economi | privat credit stood percent gdp |
| market | credit stood percent gdp stock | market | capit percent gdp think countri |
| countri | market capit percent gdp think | countri | japan ireland unit state countri |
| countri | countri japan ireland unit state | countri | financi sector increas fraction gdp |
| growth | fraction gdp point margin return | growth | expans financ diminish howev emerg |
| financ | point margin return growth expans | financ | diminish howev emerg economi two |
| economi | expans financ diminish howev emerg | economi | two number privat credit market |
| market | economi two number privat credit | market | capit percent percent gdp respect |
| market | percent percent gdp respect emerg | market | morocco ecuador still relat safe |
| econom | safe zone financi develop increas | econom | growth second studi find regulatori |
| growth | zone financi develop increas econom | growth | second studi find regulatori reform |
| growth | financi inclus key pillar inclus | growth | yet well manag financi inclus |
| growth | expans undermin financi stabil turn | growth | extend credit unproduct project unfit |
| also | client expos lender higher risk | also | expos illinform borrow increas risk |
| countri | import sinc prioriti policymak mani | countri | expand financi inclus part financi |
| growth | everyon societi financi stabil inclus | growth | role regul milton friedman said |
| market | milton friedman said exist free | market | elimin need govern contrari govern |
| need | said exist free market elimin | need | govern contrari govern essenti forum |
| growth | supervisor promot financi stabil inclus | growth | see two main area first |
| also | provis risk rise financi system | also | stronger regul abl set compens |
| economi | financi crisi take huge toll | economi | broader societi particular least afford |
| global | societ object indepth analysi octob | global | financi stabil report suggest chang |
| also | behavior ultim individu integr must | also | step task conclusionto conclud financi |
| market | financi develop good point emerg | market | point yet reach support financi |
| growth | reach support financi stabil inclus | growth | regulatori supervisori framework need match |
| need | inclus growth regulatori supervisori framework | need | match greater complex better understand |
| polici | area fiscal framework relev time | polici | question global financi crisi reveal |
| global | framework relev time polici question | global | financi crisi reveal mani gap |
| also | well ground macroeconom viewpoint howev | also | increas complex framework slide present |
| also | polit salienc becom imposs complex | also | allow consider discret applic rule |
| need | frequenc debt percent gdp europ | need | govern framework anchor public debt |
| need | debt retain flexibl cyclic shock | need | framework less complex easier communic |
| growth | budget deficit may miss expenditur | growth | rule debt brake serv instrument |
| polici | expenditur rule mani desir featur | polici | instrument let highlight three first |
| economi | gdp unpreced level among advanc | economi | second expenditur rule allow automat |
| countri | stochast analysi base styliz model | countri | euro area look perform term |
| growth | balanc structur balanc real expenditur | growth | also consid variant debt brake |
| also | structur balanc real expenditur growth | also | consid variant debt brake includ |
| growth | show output volatil lowest expenditur | growth | rule combin debt brake chart |
| growth | brake chart right show expenditur | growth | rule result higher debt volatil |
| need | calibr nation case rule would | need | design ensur complianc european framework |
| also | item success implement expenditur rule | also | requir regular comprehens review govern |
| need | review govern expenditur final govern | need | leav room maneuv within expenditur |
| also | complianc european framework case would | also | provid guidanc clariti use discretionari |
| growth | govern debt gdp anchor expenditur | growth | rule debt brake instrument variabl |
| polici | dialogu central issu confront region | polici | need futur us fund excit |
| need | central issu confront region polici | need | futur us fund excit year |
| also | director note recent visit brazil | also | immens opportun har opportun creat |
| global | share perspect three topic shift | global | environ challeng ahead longterm perspect |
| econom | america made remark stride term | econom | growth financi stabil social progress |
| growth | made remark stride term econom | growth | financi stabil social progress sinc |
| polici | stabil social progress sinc earli | polici | framework region clear stronger learn |
| growth | debt crisi pain decad lost | growth | mani countri monetari polici credibl |
| countri | pain decad lost growth mani | countri | monetari polici credibl establish commit |
| polici | lost growth mani countri monetari | polici | credibl establish commit fiscal respons |
| growth | challeng given recent time region | growth | soften concern outlook increas think |
| growth | worri notic slower yet sustain | growth | china becom import trade partner |
| countri | partner region addit extern develop | countri | hit domest shock well truth |
| global | chile remain us today inde | global | econom landscap probabl becom even |
| econom | remain us today inde global | econom | landscap probabl becom even challeng |
| global | even challeng part region start | global | growth remain modest uneven project |
| growth | challeng part region start global | growth | remain modest uneven project percent |
| need | time mean commod export region | need | prepar tough time ahead moreov |
| market | japan new bout volatil financi | market | exchang rate cannot rule region |
| global | outlook domest vulner exposedthi chang | global | backdrop becom intertwin continu domest |
| econom | region fifth year row pace | econom | activ decreas growth project dip |
| growth | row pace econom activ decreas | growth | project dip percent year recov |
| economi | suffer loss momentum three largest | economi | argentina brazil venezuela like contract |
| economi | brighter side howev stronger u | economi | boost prospect countri direct linkag |
| countri | stronger u economi boost prospect | countri | direct linkag mexico central america |
| countri | america caribbean trade tourism remitt | countri | latin america benefit well precis |
| global | benefit well precis howev shift | global | condit impact domest prospect back |
| global | find first analysi find declin | global | commod price persist fiscal revenu |
| countri | fiscal revenu remain pressur sever | countri | latin america particular case commod |
| economi | commod sector play larger role | economi | exchang rate less flexibl adjust |
| countri | exchang rate less flexibl adjust | countri | without much fiscal space requir |
| growth | compress higher export sign weaker | growth | second slowdown invest analysi find |
| growth | implic two thing reviv invest | growth | policymak need provid better incent |
| need | thing reviv invest growth policymak | need | provid better incent promot privat |
| also | better incent promot privat invest | also | need improv effici product public |
| need | incent promot privat invest also | need | improv effici product public invest |
| growth | beyond immedi impact commod price | growth | invest even worrisom trend potenti |
| growth | invest even worrisom trend potenti | growth | also mark region risk new |
| also | even worrisom trend potenti growth | also | mark region risk new mediocr |
| economi | undertak muchneed structur reform expand | economi | product capac today tomorrow let |
| econom | cannot afford lose ground precious | econom | social gain latin america accomplish |
| economi | past go nurtur futur grow | economi | take third topic restor strong |
| growth | topic restor strong sustain inclus | growth | latin america reignit strong balanc |
| growth | inclus growthfor start highqual durabl | growth | hing higher product invest well |
| econom | higher product invest well greater | econom | diversif right incent promot diversif |
| polici | incent promot diversif invest product | polici | prioriti new press issu cours |
| polici | new press issu cours implement | polici | policymak achiev improv environ slow |
| growth | policymak achiev improv environ slow | growth | less friend global condit bring |
| global | environ slow growth less friend | global | condit bring back gather today |
| need | condit bring back gather today | need | find need find togeth word |
| need | back gather today need find | need | find togeth word chile isabell |
| polici | resourc includ flexibl credit line | polici | advic capac build conclusionon note |
| countri | pleasur back brazil one first | countri | visit manag director imf special |
| also | forward see mani lima octob | also | pleasur take part today import |
| polici | part today import event monetari | polici | inflat target key pillar brazil |
| countri | inflat target brought import benefit | countri | sustain high growth stabil inflat |
| growth | import benefit countri sustain high | growth | stabil inflat achiev public debt |
| global | peopl poverti remark feat yet | global | financi crisi recent chang extern |
| market | landscap challeng policymak mani emerg | market | economi reignit activ debat role |
| economi | challeng policymak mani emerg market | economi | reignit activ debat role monetari |
| polici | reignit activ debat role monetari | polici | includ inflat target exampl ensur |
| economi | exampl ensur price stabil uncertainti | economi | product capac secur financi stabil |
| polici | capac secur financi stabil macroprudenti | polici | suffici effect allevi system risk |
| polici | system risk make sure monetari | polici | reinforc macroeconom polici support growth |
| polici | sure monetari polici reinforc macroeconom | polici | support growth job creation import |
| growth | polici reinforc macroeconom polici support | growth | job creation import challeng brazil |
| global | perspect three topic first chang | global | landscap implic latin america brazil |
| growth | third restor sustain robust inclus | growth | latin america big stride far |
| countri | challeng region futur past decad | countri | region overcom formid challeng think |
| polici | commod price favor extern condit | polici | brought welcom chang macroeconom scene |
| also | percent decad ago financi inclus | also | improv half region adult access |
| countri | trend yesterday opportun wit firsthand | countri | social program action bolsa familia |
| global | region stand challeng junctur lower | global | demand continu slowdown domest activ |
| global | demand continu slowdown domest activ | global | challeng start global growth remain |
| global | domest activ global challeng start | global | growth remain modest uneven percent |
| growth | activ global challeng start global | growth | remain modest uneven percent year |
| economi | partner china slow wherea advanc | economi | recov differ speed faster unit |
| global | time interest rate liftoff impact | global | capit flow uncertain despit anticip |
| polici | flow uncertain despit anticip monetari | polici | decis one rememb surpris key |
| polici | outlook prospect normal u monetari | polici | could creat market volatil broader |
| market | u monetari polici could creat | market | volatil broader implic global economi |
| global | creat market volatil broader implic | global | economi continu effect communic u |
| economi | market volatil broader implic global | economi | continu effect communic u feder |
| polici | feder reserv help telegraph futur | polici | move temper potenti abrupt asset |
| also | potenti abrupt asset price movement | also | view increas interest rate reflect |
| economi | rate reflect robust improv u | economi | like bring posit effect region |
| countri | posit effect region overal natur | countri | direct link unit state better |
| countri | state better posit benefit improv | countri | brazil spillov stronger u growth |
| growth | countri brazil spillov stronger u | growth | therefor stronger global growth would |
| global | stronger u growth therefor stronger | global | growth would posit broad asynchron |
| growth | u growth therefor stronger global | growth | would posit broad asynchron stanc |
| polici | posit broad asynchron stanc monetari | polici | advanc economi like contribut volatil |
| economi | asynchron stanc monetari polici advanc | economi | like contribut volatil major exchang |
| growth | envisag fifth consecut year slower | growth | year less one percent brazil |
| polici | extern volatil built home strong | polici | strong fundament bring second topic |
| polici | brazil lay foundat strengthen macroeconom | polici | reinforc polici framework build resiliencelik |
| polici | foundat strengthen macroeconom polici reinforc | polici | framework build resiliencelik countri region |
| countri | reinforc polici framework build resiliencelik | countri | region brazil appropri respond global |
| global | countri region brazil appropri respond | global | financi crisi implement countercycl polici |
| polici | global financi crisi implement countercycl | polici | like mani countri region maintain |
| countri | implement countercycl polici like mani | countri | region maintain stimulus saw hesit |
| growth | maintain stimulus saw hesit recoveri | growth | cours hindsight declin brazil potenti |
| growth | cours hindsight declin brazil potenti | growth | evid back play role issu |
| growth | hear fund staff today boost | growth | imper suppli demand strengthen macroeconom |
| polici | imper suppli demand strengthen macroeconom | polici | prefer approach secur stabil enhanc |
| economi | ensur effici use scarc resourc | economi | import side effect step rise |
| market | relat price chang affect mediumterm | market | expect monetari polici appropri went |
| polici | affect mediumterm market expect monetari | polici | appropri went tighten mode sinc |
| polici | sinc late last year indic | polici | work even though inflat high |
| polici | therefor recent strengthen fiscal monetari | polici | togeth strong intern reserv posit |
| econom | critic bolster credibl resili brazil | econom | polici framework brazil clear right |
| polici | bolster credibl resili brazil econom | polici | framework brazil clear right track |
| also | framework brazil clear right track | also | case countri region see signific |
| countri | clear right track also case | countri | region see signific strengthen macroeconom |
| polici | region see signific strengthen macroeconom | polici | cours context declin growth stanc |
| growth | macroeconom polici cours context declin | growth | stanc critic yet analysi suggest |
| polici | put risk hardwon credibl past | polici | effort credibl especi import restor |
| growth | sustain prospect strong balanc inclus | growth | lead third final topic structur |
| need | third final topic structur reform | need | boost product ensur durabl gain |
| growth | product ensur durabl gain potenti | growth | reignit robust inclus growth tap |
| growth | potenti growth reignit robust inclus | growth | tap promis structur reformsth distinguish |
| growth | clear current environ restor solid | growth | maintain hardwon macroeconom financi stabil |
| also | challeng howev current difficulti may | also | open opportun address longstand weak |
| need | thing accomplish let underscor step | need | mani area highlight three use |
| economi | hurdl product mani latin american | economi | includ brazil exampl accord world |
| econom | includ brazil exampl accord world | econom | forum survey issu qualiti road |
| countri | qualiti road port air transport | countri | context infrastructur concess program import |
| growth | third list prioriti help boost | growth | rejuven trade integr latin america |
| global | reap larg benefit deeper integr | global | valu chain greater transfer technolog |
| global | use exampl benefit integr region | global | valu chain across major emerg |
| market | valu chain across major emerg | market | brazil one smallest volum trade |
| growth | trade integr could signific bolster | growth | prospect brazil ongo initi area |
| growth | vigor ambiti implement give boost | growth | prosper hope see conclusionlet conclud |
| growth | immens opportun whole region renew | growth | prosper blossom north south alik |
| polici | constraint nontrivi yet persever right | polici | choic brighter outlook within reach |
| countri | era region like footbal everi | countri | must part whole region win |
| global | particip today present updat estim | global | energi subsidi slide present draw |
| econom | right methodolog present journal articl | econom | energi environment polici size energi |
| polici | journal articl econom energi environment | polici | size energi subsidi crucial depend |
| polici | broad notion energi subsidi captur | polici | relev question right level energi |
| also | right level energi price paper | also | provid estim environment fiscal welfar |
| global | find energi subsidi big rise | global | energi subsidi increas us trillion |
| global | trillion us trillion percent gdp | global | energi subsidi estim increas percent |
| global | energi subsidi estim increas percent | global | gdp percent number shock exceed |
| global | gdp percent number shock exceed | global | public health spend estim world |
| global | traffic congest accid road damag | global | warm energi subsidi benefit most |
| growth | help poor energi subsidi penal | growth | exampl distort energi sector invest |
| financ | final energi subsidi fiscal cost | financ | energi subsidi requir higher distortionari |
| global | slide show share various compon | global | subsidi less quarter global energi |
| global | compon global subsidi less quarter | global | energi subsidi attribut global warm |
| global | quarter global energi subsidi attribut | global | warm reflect local factor slide |
| global | factor slide slide show share | global | subsidi attribut energi product subsidi |
| also | largest environment damag iron coal | also | one fuel rare tax countri |
| countri | also one fuel rare tax | countri | slide slide show geograph distribut |
| global | slide slide show geograph distribut | global | energi subsidi energi subsidi sizabl |
| countri | subsidi energi subsidi sizabl near | countri | region averag two percent gdp |
| global | emerg develop asia account half | global | energi subsidi advanc economi account |
| economi | half global energi subsidi advanc | economi | account quarter top five subsid |
| also | averag slide elimin energi subsidi | also | lower global carbon dioxid emiss |
| global | elimin energi subsidi also lower | global | carbon dioxid emiss percent reform |
| global | trillion us trillion correspond percent | global | gdp percent global gdp firm |
| global | correspond percent global gdp percent | global | gdp firm household would cut |
| need | energi subsidi high reform urgent | need | reform would also contribut global |
| also | reform urgent need reform would | also | contribut global carbon emiss reduct |
| global | need reform would also contribut | global | carbon emiss reduct particular would |
| countri | emiss reduct particular would help | countri | meet pledg carbon reduct ahead |
| global | ahead pari un climat confer | global | energi price drop signific provid |
| countri | signific provid window opportun reform | countri | act import stress mani reason |
| polici | act import stress mani reason | polici | action gradual act act right |
| countri | impos local peopl act selfinterest | countri | region citi would contribut solut |
| global | citi would contribut solut major | global | challeng nevertheless coordin cooper global |
| global | global challeng nevertheless coordin cooper | global | level remain fundament henc conclus |
| global | henc conclus act local solv | global | slide |
| also | kind invit warm welcom would | also | like thank faculti member done |
| also | down bump along way mani | also | realiz start point could hard |
| also | slowli profound emot cultur shock | also | incred excit expos new idea |
| global | partner baker mckenzi elect chairman | global | law firm work live chicago |
| countri | minist ask join french govern | countri | call public servic realli one |
| global | risk rais risktoler next level | global | level today hyperconnect world think |
| global | world think import ever take | global | perspect person profession life fortyeight |
| countri | iit student nonu nation hail | countri | show remark open pull power |
| economi | return home pursu opportun fastgrow | economi | particular asia africa student take |
| global | asia africa student take truli | global | view overcom boundari american classmat |
| global | panama citi opportun bring act | global | stage imagin boundari pleas set |
| also | caution take smart risk reinvent | also | mean leav room unexpect perfect |
| market | come expect unexpect disrupt technolog | market | forc known variabl everyth els |
| countri | valu meantim new presid elect | countri | whose first action elimin death |
| countri | lawyer interview best law firm | countri | told hire good salari would |
| need | greater fair school univers workplac | need | remov barrier continu hold back |
| market | idea male colleagu translat loss | market | opportun lower growth potenti great |
| growth | translat loss market opportun lower | growth | potenti great opportun generat stand |
| also | differ school home work mani | also | want take wider perspect press |
| global | convent wisdom stand valu local | global | level trust feel better stronger |
| countri | imf know imf lend money | countri | time distress get back feet |
| also | time distress get back feet | also | play key role sound global |
| global | also play key role sound | global | alarm bell encourag global cooper |
| global | sound global alarm bell encourag | global | cooper best imf word economist |
| need | inspir other work privat life | need | move comfort zone roman philosoph |
| need | know exact talk mani feel | need | even take break get grid |
| also | imf manag director michel camdessus | also | person privileg welcom introduc presid |
| need | today lectur seri respond collect | need | reflect challeng central bank face |
| global | challeng central bank face aftermath | global | financi crisi also highlight fund |
| also | face aftermath global financi crisi | also | highlight fund commit collabor central |
| countri | commit collabor central bank member | countri | central bank play critic role |
| growth | central bank crisi longlast effect | growth | job creation concern slow job |
| growth | job creation concern slow job | growth | rise inequ come back haunt |
| need | inequ come back haunt us | need | ambiti decis polici boost today |
| polici | haunt us need ambiti decis | polici | boost today growth tomorrow growth |
| growth | ambiti decis polici boost today | growth | tomorrow growth potenti build resili |
| growth | polici boost today growth tomorrow | growth | potenti build resili exist emerg |
| growth | aim strong sustain balanc inclus | growth | introduc presid draghi would like |
| growth | draghi would like touch briefli | growth | diverg monetari polici set across |
| polici | touch briefli growth diverg monetari | polici | set across major economi becom |
| economi | monetari polici set across major | economi | becom asynchron eas euro area |
| market | appreci euro yen weaken time | market | volatil increas histor low rise |
| market | risk spread currenc depreci emerg | market | financi stabil risk rotat advanc |
| economi | financi stabil risk rotat advanc | economi | emerg market bank nonbank financi |
| market | risk rotat advanc economi emerg | market | bank nonbank financi sector solvenc |
| market | bank nonbank financi sector solvenc | market | liquid risk polici need adapt |
| polici | sector solvenc market liquid risk | polici | need adapt chang environ lessthanst |
| need | solvenc market liquid risk polici | need | adapt chang environ lessthanst geopolit |
| growth | develop prospect thus mix best | growth | disappoint mani time sinc global |
| global | growth disappoint mani time sinc | global | financi crisi new mediocr remain |
| growth | remain distinct possibl word low | growth | long time bring second point |
| polici | long time bring second point | polici | prevent economi settl new mediocr |
| economi | bring second point polici prevent | economi | settl new mediocr monetari polici |
| polici | economi settl new mediocr monetari | polici | continu import role play would |
| polici | ecb notabl signific eas monetari | polici | januari year done much stave |
| polici | deflat support weak demand monetari | polici | price stabil essenti strong sustain |
| growth | stabil essenti strong sustain inclus | growth | monetari polici enough need complement |
| polici | strong sustain inclus growth monetari | polici | enough need complement measur reflect |
| need | inclus growth monetari polici enough | need | complement measur reflect upon challeng |
| global | measur reflect upon challeng aftermath | global | financi crisi come mind difficult |
| polici | look forward hear thought monetari | polici | central bank also look forward |
| also | thought monetari polici central bank | also | look forward engag convers major |
| also | agenda improv resili financi system | also | welcom continu vigil fed institut |
| global | financi stabil still wellentrench recent | global | financi stabil report find financi |
| market | bank nonbank sovereign bank solvenc | market | liquid advanc countri emerg countri |
| countri | bank solvenc market liquid advanc | countri | emerg countri suggest still work |
| countri | market liquid advanc countri emerg | countri | suggest still work done address |
| need | driven shortterm profit motiv suggest | need | build financi system ethic orient |
| need | build financi system ethic orient | need | real economi financi system serv |
| economi | system ethic orient need real | economi | financi system serv societi way |
| need | tight enough oversight strong enough | need | progress toobigtofail institut think cultur |
| need | compens incent relat compens practic | need | chang reward longer much tie |
| countri | area analysi cover sampl bank | countri | suggest sharehold say pay becom |
| polici | compens today percent bank institut | polici | also seen encourag step recent |
| also | today percent bank institut polici | also | seen encourag step recent secur |
| also | perform second chang govern structur | also | matter key failur crisi intern |
| need | simpli reduc whether permiss law | need | cultur induc banker right thing |
| need | thing even nobodi watch ultim | need | individu account good corpor govern |
| need | corpor rulesbas behavior valuesbas behavior | need | greater focus promot individu integr |
| also | integr toler women leader would | also | help sever studi shown femal |
| economi | risk incent appli advanc emerg | economi | inde emerg economi learn valuabl |
| economi | advanc emerg economi inde emerg | economi | learn valuabl lesson pitfal advanc |
| market | reexamin financi deepen viewpoint emerg | market | key find gain growth stabil |
| growth | emerg market key find gain | growth | stabil financi deepen remain larg |
| market | financi deepen remain larg emerg | market | limit size speed financi sector |
| countri | risk take instabl experi mani | countri | includ unit state expos danger |
| global | develop reduc risk fear chang | global | regulatori framework would curtail credit |
| growth | credit hamper financi develop stifl | growth | may misplac whole set principl |
| also | set principl increas financi depth | also | contribut greater stabil better regul |
| countri | financi exclus far sole lowincom | countri | emerg market issu exampl even |
| market | far sole lowincom countri emerg | market | issu exampl even unit state |
| econom | inclus particular import women empow | econom | inde number suggest much scope |
| global | suggest much scope improv area | global | stagger percent women lack access |
| need | percent bank ceo women clear | need | better yet desir object financi |
| growth | overarch lesson build sustain inclus | growth | hing collabor effort requir supervisor |
| countri | manag risk requir build resili | countri | requir realign corpor cultur societ |
| need | realign corpor cultur societ object | need | work togeth realli go back |
| global | go back intern monetari fund | global | financi stabil report april intern |
| global | report april intern monetari fund | global | financi stabil report octob sahay |
| growth | al rethink financi deepen stabil | growth | emerg market staff discuss note |
| market | financi deepen stabil growth emerg | market | staff discuss note intern monetari |
| global | give opportun speak import expand | global | trade especi point time let |
| growth | lost nittygritti trade discuss care | growth | innov care job real incom |
| econom | middleclass care poverti reduct greater | econom | fair care thing need serious |
| need | greater econom fair care thing | need | serious foster global trade imf |
| global | care thing need serious foster | global | trade imf care deepli issu |
| econom | institut design prevent return selfdef | econom | polici great depress includ trade |
| polici | design prevent return selfdef econom | polici | great depress includ trade protection |
| growth | purpos imf facilit expans balanc | growth | intern trade contribut therebi promot |
| global | level employ real incom fastforward | global | financi crisi mark latest turn |
| global | crisi mark latest turn point | global | trade crisi struck trade protection |
| global | unpreced level intern cooper prevent | global | econom meltdown financi crisi help |
| econom | level intern cooper prevent global | econom | meltdown financi crisi help put |
| growth | financi crisi help put damper | growth | global trade like mark fourth |
| global | crisi help put damper growth | global | trade like mark fourth consecut |
| growth | fourth consecut year belowaverag trade | growth | least one year disappoint growth |
| growth | growth least one year disappoint | growth | come accord latest wto predict |
| global | wto predict word one engin | global | econom growth slow cyclic forc |
| econom | predict word one engin global | econom | growth slow cyclic forc also |
| growth | word one engin global econom | growth | slow cyclic forc also structur |
| also | econom growth slow cyclic forc | also | structur factor trend must revers |
| growth | prevent call new mediocr low | growth | long period intern communiti includ |
| polici | push trade reform part comprehens | polici | packag lift growth employ mind |
| growth | part comprehens polici packag lift | growth | employ mind would like touch |
| need | would like touch three issu | need | power trade engin let start |
| growth | pictur get lost trade good | growth | reform includ new trade agreement |
| countri | includ new trade agreement encourag | countri | special good servic compar advantag |
| also | avail purchas b trade reform | also | power indirect effect growth ignit |
| growth | reform also power indirect effect | growth | ignit amplifi structur reform exampl |
| growth | help policymak revers declin product | growth | advanc economi boost product emerg |
| economi | revers declin product growth advanc | economi | boost product emerg develop economi |
| economi | economi boost product emerg develop | economi | recent imf research show lower |
| growth | product key driver declin potenti | growth | rate advanc economi perhap even |
| economi | declin potenti growth rate advanc | economi | perhap even emerg market economi |
| market | advanc economi perhap even emerg | market | economi mean reduc estim speed |
| economi | economi perhap even emerg market | economi | mean reduc estim speed limit |
| economi | mean reduc estim speed limit | economi | current drive advanc economi exampl |
| economi | limit economi current drive advanc | economi | exampl potenti annual growth fell |
| growth | advanc economi exampl potenti annual | growth | fell percent past two year |
| global | percent revers trend essenti lift | global | growth medium term d summari |
| growth | revers trend essenti lift global | growth | medium term d summari open |
| global | sustain let forget impact trade | global | poverti reduct hundr million peopl |
| global | poverti past three decad shift | global | trade higher gear think compel |
| global | better trade engin policymak shift | global | trade higher gear second point |
| global | least three decad financi crisi | global | trade regular grew twice rate |
| global | trade regular grew twice rate | global | economi expand rate global economi |
| economi | regular grew twice rate global | economi | expand rate global economi slowdown |
| global | rate global economi expand rate | global | economi slowdown larg two structur |
| economi | global economi expand rate global | economi | slowdown larg two structur chang |
| global | slowdown larg two structur chang | global | trade one matur exist global |
| global | global trade one matur exist | global | valu chain north america europ |
| need | chain form revers trend policymak | need | unlock trade potenti region south |
| global | would great benefit better integr | global | valu chain would good good |
| growth | second factor hold back trade | growth | slowdown trade liber recent year |
| need | american free trade agreement policymak | need | press ahead negoti transpacif partnership |
| also | billion per year next decad | also | find ttp would rais u |
| need | incent cut deal polit leadership | need | push deal finish line c |
| econom | would cut trade cost deliv | econom | boost us trillion annual bali |
| economi | bali deal particular import develop | economi | focus trade facilit involv reduc |
| global | let clear sign progress trade | global | communiti much ambiti trade polici |
| polici | global communiti much ambiti trade | polici | economi pursu bring third point |
| economi | communiti much ambiti trade polici | economi | pursu bring third point trade |
| polici | pursu bring third point trade | polici | economi pursu imf recent review |
| economi | bring third point trade polici | economi | pursu imf recent review polici |
| polici | economi pursu imf recent review | polici | advic make sure trade remain |
| economi | technic assist annual assess member | economi | cours polici advic countryspecif let |
| polici | annual assess member economi cours | polici | advic countryspecif let give view |
| economi | three broad categori first advanc | economi | larg focus st centuri trade |
| market | centuri trade issu open servic | market | make regulatori system coher tpp |
| market | stateown enterpris second mani emerg | market | economi especi south asia latin |
| economi | enterpris second mani emerg market | economi | especi south asia latin america |
| global | america still benefit great integr | global | economi tradit trade liber may |
| economi | still benefit great integr global | economi | tradit trade liber may includ |
| need | alon overal nation infrastructur invest | need | estim trillion third develop economi |
| economi | need estim trillion third develop | economi | trade integr global valu chain |
| global | third develop economi trade integr | global | valu chain central plank develop |
| growth | valu chain central plank develop | growth | strategi trade facilit key imf |
| econom | wherev trade good citizenship destruct | econom | prejudic trade protection policymak must |
| countri | deal ttp believ eventu open | countri | meet requir key question make |
| global | compet regim prefer strong believ | global | deal deliv far approach rather |
| global | allow new trade relationship form | global | solut global challeng last major |
| global | trade relationship form global solut | global | challeng last major global trade |
| global | solut global challeng last major | global | trade agreement year old world |
| growth | world better said begin care | growth | need serious global trade time |
| need | better said begin care growth | need | serious global trade time get |
| global | begin care growth need serious | global | trade time get serious trade |
| countri | kimoon pivot year climat chang | countri | pledg action emiss ratifi decemb |
| economi | must achiev environment object support | economi | practic flexibl therefor key messag |
| polici | minist come full engag climat | polici | crucial let emphas carbon price |
| countri | crucial let emphas carbon price | countri | best interest fiscal local environment |
| global | emiss local level must await | global | agreement mani countri alreadi done |
| countri | must await global agreement mani | countri | alreadi done welcom effort also |
| also | countri alreadi done welcom effort | also | much room increas emiss coverag |
| also | net target tax cut govern | also | assist worker transit energyintens sector |
| market | price creat window opportun close | market | tighten also need fulfil pledg |
| also | window opportun close market tighten | also | need fulfil pledg mobil billion |
| need | opportun close market tighten also | need | fulfil pledg mobil billion climat |
| financ | fulfil pledg mobil billion climat | financ | develop countri onward world bank |
| countri | mobil billion climat financ develop | countri | onward world bank imf point |
| countri | progress made curb ebola epidem | countri | come long way erad terribl |
| need | seem within reach time complac | need | emphas three countri face second |
| countri | time complac need emphas three | countri | face second shock recent sharp |
| financ | postebola recoveri provid addit concession | financ | ideal form grant signific invest |
| polici | sierra leon develop sound macroeconom | polici | strengthen financi institut support recoveri |
| polici | work govern assess macroeconom implic | polici | respons date provid financ almost |
| financ | implic polici respons date provid | financ | almost million includ million grant |
| countri | relief trust immedi cash bank | countri | addit pleas abl inform last |
| countri | million spring meet strong urg | countri | step ensur provid debt relief |
| growth | stand fight ebola fight sustain | growth | develop better futur countri stand |
| countri | sustain growth develop better futur | countri | stand readi provid financi assist |
| need | stand readi provid financi assist | need | exist |
| financ | next week central bank governor | financ | minist member countri come togeth |
| countri | bank governor financ minist member | countri | come togeth washington spring meet |
| global | spring meet focus discuss state | global | economi sinc annual meet last |
| economi | meet focus discuss state global | economi | sinc annual meet last fall |
| global | last fall number signific develop | global | economi benefit shot arm provid |
| economi | fall number signific develop global | economi | benefit shot arm provid reduc |
| economi | price strong perform world largest | economi | unit state overal macroeconom risk |
| global | state overal macroeconom risk decreas | global | recoveri continu moder uneven mani |
| growth | financi geopolit risk increas overal | growth | bad percent last year rough |
| countri | peopl includ percent youth unemploy | countri | growth good enough six month |
| growth | includ percent youth unemploy countri | growth | good enough six month ago |
| growth | warn risk new mediocr low | growth | long time today must prevent |
| growth | must avoid focus remark lift | growth | today use avail tool polici |
| polici | growth today use avail tool | polici | space effect ii lift growth |
| growth | polici space effect ii lift | growth | tomorrow prevent new mediocr iii |
| growth | financi architectur foster develop make | growth | inclus sustain lift today growthlet |
| global | growthlet begin quick health check | global | economi immedi challeng lift today |
| economi | begin quick health check global | economi | immedi challeng lift today growth |
| growth | economi immedi challeng lift today | growth | world econom outlook releas next |
| econom | challeng lift today growth world | econom | outlook releas next week speak |
| polici | next week speak broader trend | polici | recommend indic previous growth remain |
| growth | trend polici recommend indic previous | growth | remain moder rough last year |
| economi | moder rough last year advanc | economi | slight better last year recoveri |
| economi | monetari eas forecast emerg develop | economi | slight wors last year lower |
| global | main driver still repres twothird | global | growth year tremend divers within |
| growth | driver still repres twothird global | growth | year tremend divers within group |
| economi | within group exampl think emerg | economi | one singl group countri face |
| countri | emerg economi one singl group | countri | face specif circumst easier difficult |
| growth | circumst easier difficult impli overal | growth | moder global economi continu face |
| global | difficult impli overal growth moder | global | economi continu face number signific |
| economi | impli overal growth moder global | economi | continu face number signific challeng |
| economi | debthigh unemploy persist number advanc | economi | clear polici space lever must |
| polici | persist number advanc economi clear | polici | space lever must util begin |
| need | demand support continu monetari accommod | need | especi euro area japan fiscal |
| polici | especi euro area japan fiscal | polici | also need calibr strength recoveri |
| also | euro area japan fiscal polici | also | need calibr strength recoveri without |
| need | area japan fiscal polici also | need | calibr strength recoveri without lose |
| polici | sustain medium term effect demandsupport | polici | also improv exampl macroeconom dimens |
| also | medium term effect demandsupport polici | also | improv exampl macroeconom dimens financi |
| global | stabil dimens bottom line risk | global | financi stabil rise new mediocr |
| growth | financi stabil rise new mediocr | growth | environ comfort place respect financi |
| also | financi risk may declin area | also | migrat other exampl bank nonbank |
| economi | other exampl bank nonbank advanc | economi | toward emerg market one advers |
| market | nonbank advanc economi toward emerg | market | one advers side effect low |
| polici | caus otherwis necessari accommod monetari | polici | foster higher risk toler part |
| countri | major currenc percent real term | countri | difficult macroeconom condit less polici |
| polici | countri difficult macroeconom condit less | polici | space cours benefit relat depreci |
| market | destabil particular case busi emerg | market | economi wedg strong u dollar |
| economi | particular case busi emerg market | economi | wedg strong u dollar lower |
| also | posit risk may manag individu | also | contend structur declin market liquid |
| market | individu also contend structur declin | market | liquid due primarili recent chang |
| economi | structur asset manag industri advanc | economi | creat mismatch matur asset liabil |
| polici | risk underscor import strengthen financi | polici | appropri menu measur must countryspecif |
| polici | measur must countryspecif overal set | polici | help us lift growth today |
| growth | set polici help us lift | growth | today growth tomorrow lift growth |
| growth | help us lift growth today | growth | tomorrow lift growth tomorrowher big |
| growth | growth today growth tomorrow lift | growth | tomorrowher big issu current growth |
| growth | growth tomorrowher big issu current | growth | moder mediumterm prospect advanc emerg |
| economi | moder mediumterm prospect advanc emerg | economi | potenti growth pare larg reflect |
| growth | prospect advanc emerg economi potenti | growth | pare larg reflect last scar |
| also | reflect last scar financi crisi | also | undercurr chang demograph lower product |
| need | becom new realiti structur reform | need | go handinhand macroeconom financi polici |
| polici | need go handinhand macroeconom financi | polici | rais confid generat invest frank |
| countri | confid generat invest frank mani | countri | reform lag structur reform span |
| polici | structur reform span wide rang | polici | reform immedi effect demand other |
| growth | effici infrastructur invest power impetus | growth | short run long run reform |
| market | run reform labor product servic | market | like unfold longer time horizon |
| growth | flesh prioriti payoff area product | growth | labor forc particip trade exampl |
| growth | trade exampl revers declin product | growth | advanc economi requir lower barrier |
| economi | revers declin product growth advanc | economi | requir lower barrier entri product |
| market | lower barrier entri product servic | market | anoth import set measur need |
| need | market anoth import set measur | need | remov barrier tolabor forc particip |
| growth | key tackl inequ ensur broadbas | growth | exampl final potenti huge global |
| global | growth exampl final potenti huge | global | gain trade reform integr yes |
| economi | trade reform integr yes polit | economi | reform difficult yes involv tough |
| growth | work togeth struck action lift | growth | becom increas countryspecif yet multilay |
| polici | challeng policymak around world combin | polici | need boost today growth fortifi |
| need | policymak around world combin polici | need | boost today growth fortifi tomorrow |
| growth | combin polici need boost today | growth | fortifi tomorrow prospect leverag nation |
| global | prospect leverag nation initi benefit | global | communiti often case good countri |
| countri | global communiti often case good | countri | also good global communiti need |
| also | communiti often case good countri | also | good global communiti need open |
| global | case good countri also good | global | communiti need open resili multilater |
| need | countri also good global communiti | need | open resili multilater system leverag |
| econom | world new dynam center polit | econom | graviti emerg simpli altern call |
| need | simpli altern call new multilater | need | done emerg market develop countri |
| market | new multilater need done emerg | market | develop countri must greater weight |
| countri | need done emerg market develop | countri | must greater weight voic global |
| global | countri must greater weight voic | global | econom institut reflect new realiti |
| econom | must greater weight voic global | econom | institut reflect new realiti contribut |
| global | new realiti contribut respons regard | global | economi imf quota govern reform |
| economi | realiti contribut respons regard global | economi | imf quota govern reform intend |
| growth | togeth appli area touch stronger | growth | today better growth tomorrow resili |
| growth | touch stronger growth today better | growth | tomorrow resili intern monetari system |
| global | serv us well face great | global | challeng new multilater urgent need |
| need | global challeng new multilater urgent | need | boost growth generat confid common |
| growth | new multilater urgent need boost | growth | generat confid common futur began |
| growth | action inact must lift better | growth | today tomorrow togeth thank |
| global | willing provid set inform discuss | global | econom issu imf spring meet |
| econom | provid set inform discuss global | econom | issu imf spring meet around |
| global | spring meet around corner talk | global | economi rather focus today ukrain |
| economi | meet around corner talk global | economi | rather focus today ukrain go |
| countri | mani want clear pictur situat | countri | seek understand risk face world |
| growth | ukrain achiev financi stabil return | growth | less month ago fund approv |
| financ | month ago fund approv billion | financ | ukrain part fouryear program extend |
| financ | challeng stabil ukrain deepli destabil | financ | restor growth stagnant sever year |
| growth | ukrain deepli destabil financ restor | growth | stagnant sever year support longoverdu |
| econom | problem imf stand ukrain time | econom | crisi would like review three |
| econom | three theme uneven evolut ukrain | econom | transform sinc achiev nationhood set |
| econom | achiev nationhood set serious manag | econom | difficulti descend fullblown crisi face |
| countri | descend fullblown crisi face confront | countri | eastern region ukrain respons crisi |
| growth | stabil situat longerterm program restor | growth | transform economi ukrain past let |
| economi | longerterm program restor growth transform | economi | ukrain past let begin talk |
| global | turn point ukrain general enter | global | news cycl stori day independ |
| econom | mani lost opportun much disappoint | econom | mismanag halfheart reform hold back |
| growth | mismanag halfheart reform hold back | growth | corrupt oligarchi undermin market economi |
| market | back growth corrupt oligarchi undermin | market | economi episod voter fraud abus |
| economi | growth corrupt oligarchi undermin market | economi | episod voter fraud abus power |
| countri | power undercut democraci comparison mani | countri | central eastern europ strike sinc |
| growth | europ strike sinc ukrain spurt | growth | abl reach point reform truli |
| growth | widen enough add anoth drag | growth | earli visit kiev urg govern |
| econom | polit ukrain polit contend fullblown | econom | financi crisi first time long |
| countri | time polit window opportun open | countri | elect leader approach econom polici |
| econom | open countri elect leader approach | econom | polici make purpos commit presid |
| polici | countri elect leader approach econom | polici | make purpos commit presid poroshenko |
| econom | prime minist yatsenyuk sync main | econom | issu call unit polit class |
| econom | govern face danger rapid deterior | econom | situat last year sharp output |
| countri | deep recess elsewher eastern part | countri | result industri product construct retail |
| financ | contract percent year earlier ukrain | financ | need surg conflict impos direct |
| need | percent year earlier ukrain financ | need | surg conflict impos direct cost |
| also | term output loss budgetari deterior | also | indirect cost uncertainti hit financ |
| financ | also indirect cost uncertainti hit | financ | bank public sector foreign exchang |
| market | bank public sector foreign exchang | market | becam destabil export hit hard |
| financ | steel major export extern privat | financ | dri capit outflow acceler foreign |
| also | inflat spike percent reflect depreci | also | rise energi price bank system |
| also | extrem stress fundament weak institut | also | due general financi uncertainti deposit |
| econom | led signific loss confid disrupt | econom | activ despit gas price increas |
| need | clear ukrain balanc payment adjust | need | could achiev origin two year |
| financ | program approv execut board march | financ | standpoint object program cover ukrain |
| financ | object program cover ukrain extern | financ | need estim billion next four |
| need | program cover ukrain extern financ | need | estim billion next four year |
| financ | form debt oper discuss creditor | financ | help tripl ukrain offici reserv |
| economi | metric import boost confid cushion | economi | futur extern shock exact imf |
| financ | futur extern shock exact imf | financ | new program import releas financ |
| financ | financ new program import releas | financ | need see clear path crisi |
| need | new program import releas financ | need | see clear path crisi demonstr |
| econom | crisi demonstr willing follow first | econom | goal program stabil ukrain financ |
| financ | econom goal program stabil ukrain | financ | began task restor stabil foreign |
| market | task restor stabil foreign exchang | market | anchor program appropri tight monetari |
| financ | stabil recent drain reserv revers | financ | alreadi pledg reserv cover import |
| polici | addit tight monetari stanc support | polici | help inflat reced toward singl |
| also | gas price hike subsid stabil | also | support address uncertainti come ukrain |
| financ | restructur would secur billion addit | financ | bring debt percent gdp avoid |
| also | alon enough address crisi ukrain | also | need restor growth crucial challeng |
| need | enough address crisi ukrain also | need | restor growth crucial challeng restor |
| growth | crisi ukrain also need restor | growth | crucial challeng restor competit undermin |
| market | basi ukrainian busi compet intern | market | similar spend constraint built ukrainian |
| countri | percent cost recoveri well energyimport | countri | region remain percent cost ad |
| growth | put place final step restor | growth | bring bank system back health |
| need | bank includ recapit liquid recapit | need | provid program architectur go forward |
| also | program architectur go forward govern | also | see larg financi institut kept |
| also | measur must put place year | also | longterm challeng ukrain achiev sustain |
| growth | longterm challeng ukrain achiev sustain | growth | futur reach level develop par |
| need | par success neighbor structur reform | need | creat modern economi give renew |
| economi | structur reform need creat modern | economi | give renew confid busi communiti |
| need | busi communiti general public attract | need | invest exampl key structur impedi |
| also | system line intern best practic | also | set need reform affect busi |
| need | intern best practic also set | need | reform affect busi climat key |
| polici | reform affect busi climat key | polici | measur area relat govern deregul |
| also | legisl measur enhanc effect judiciari | also | worth note recent step curb |
| also | clear take time effort achiev | also | inevit question aris whether agenda |
| growth | essenti end day sustain equit | growth | benefici ukrainian peopl risk point |
| countri | situat ground ukrain conflict east | countri | intensifi certain hope won one |
| polici | zhou deft guid china monetari | polici | past decad china play key |
| global | china play key role stabil | global | economi financi crisi sinc provid |
| economi | play key role stabil global | economi | financi crisi sinc provid vital |
| econom | recoveri world yet achiev full | econom | recoveri global growth continu weigh |
| global | yet achiev full econom recoveri | global | growth continu weigh high debt |
| growth | achiev full econom recoveri global | growth | continu weigh high debt high |
| global | lacklust invest imf recent cut | global | growth forecast despit boost cheaper |
| growth | invest imf recent cut global | growth | forecast despit boost cheaper oil |
| growth | boost cheaper oil stronger u | growth | recoveri remain fragil signific risk |
| polici | expect tighten normal u monetari | polici | time mani countri eas monetari |
| countri | u monetari polici time mani | countri | eas monetari condit asynchron monetari |
| polici | eas monetari condit asynchron monetari | polici | may trigger excess volatil global |
| global | polici may trigger excess volatil | global | financi market diverg monetari polici |
| market | trigger excess volatil global financi | market | diverg monetari polici path alreadi |
| polici | global financi market diverg monetari | polici | path alreadi led signific strengthen |
| market | signific strengthen u dollar emerg | market | could vulner mani bank compani |
| global | dollar past five year given | global | econom condit would like briefli |
| econom | past five year given global | econom | condit would like briefli discuss |
| polici | crossbord effect spillov unconvent monetari | polici | emerg market economi prepar potenti |
| market | spillov unconvent monetari polici emerg | market | economi prepar potenti market volatil |
| economi | unconvent monetari polici emerg market | economi | prepar potenti market volatil natur |
| market | emerg market economi prepar potenti | market | volatil natur monetari polici call |
| polici | potenti market volatil natur monetari | polici | call new normal spillov unconvent |
| polici | new normal spillov unconvent monetari | polici | let start spillov effect onset |
| global | let start spillov effect onset | global | financi crisi unconvent monetari polici |
| polici | global financi crisi unconvent monetari | polici | includ larg purchas govern debt |
| global | govern debt strong posit spillov | global | economi implic china emerg market |
| economi | debt strong posit spillov global | economi | implic china emerg market economi |
| market | global economi implic china emerg | market | economi polici prevent financi market |
| economi | economi implic china emerg market | economi | polici prevent financi market meltdown |
| polici | implic china emerg market economi | polici | prevent financi market meltdown support |
| market | market economi polici prevent financi | market | meltdown support recoveri advanc economi |
| economi | market meltdown support recoveri advanc | economi | beyond convinc without unconvent tool |
| polici | sunk sstyle depress unconvent monetari | polici | also led negat spillov effect |
| also | sstyle depress unconvent monetari polici | also | led negat spillov effect emerg |
| market | led negat spillov effect emerg | market | buildup financi stabil risk polici |
| polici | market buildup financi stabil risk | polici | trigger huge capit inflow emerg |
| market | huge capit inflow emerg financi | market | end emerg market receiv us |
| market | emerg financi market end emerg | market | receiv us  ½ trillion |
| global | gross capit inflow repres half | global | capit flow period led signific |
| market | bond equiti price strengthen emerg | market | currenc imf studi suggest effect |
| polici | effect larger one caus convent | polici | past spillov pose risk financi |
| market | pose risk financi stabil emerg | market | polici chang could easili lead |
| polici | risk financi stabil emerg market | polici | chang could easili lead sudden |
| polici | first hint chang u monetari | polici | enough trigger surg financi market |
| market | polici enough trigger surg financi | market | capit flow volatil could happen |
| polici | u feder reserv clear communic | polici | intent financi market may still |
| market | clear communic polici intent financi | market | may still surpris time u |
| market | china most trade relationship emerg | market | spillov caus sustain weak demand |
| countri | spillov caus sustain weak demand | countri | chines export would certain affect |
| global | continu one valuabl contribut interconnect | global | economi may also encourag greater |
| economi | one valuabl contribut interconnect global | economi | may also encourag greater polici |
| also | contribut interconnect global economi may | also | encourag greater polici cooper emerg |
| polici | economi may also encourag greater | polici | cooper emerg market economi prepar |
| market | encourag greater polici cooper emerg | market | economi prepar potenti market volatil |
| economi | greater polici cooper emerg market | economi | prepar potenti market volatil bring |
| market | emerg market economi prepar potenti | market | volatil bring second point emerg |
| market | volatil bring second point emerg | market | prepar potenti market volatil let |
| market | point emerg market prepar potenti | market | volatil let highlight three step |
| market | highlight three step first emerg | market | need prepar well advanc imf |
| need | three step first emerg market | need | prepar well advanc imf research |
| countri | well advanc imf research suggest | countri | better fundament general less affect |
| polici | less affect taper tantrum monetari | polici | spillov advanc economi second emerg |
| economi | tantrum monetari polici spillov advanc | economi | second emerg market need ensur |
| market | spillov advanc economi second emerg | market | need ensur financi system resili |
| need | advanc economi second emerg market | need | ensur financi system resili asset |
| polici | sudden withdraw fund liquid prudenti | polici | serv first line defens much |
| market | play time put action third | market | volatil materi central bank need |
| need | market volatil materi central bank | need | readi act temporari aggress domest |
| market | aggress domest liquid support sector | market | may necessari certain condit foreign |
| also | condit foreign exchang intervent could | also | use dampen exchang rate volatil |
| need | rate volatil intervent use substitut | need | macroeconom adjust moreov foreign currenc |
| countri | foreign currenc swap line across | countri | proven help provid access foreign |
| market | access foreign exchang liquid time | market | stress intern coordin safeti net |
| also | stress intern coordin safeti net | also | play crucial role exampl central |
| polici | financi supervisor may want share | polici | think conting plan closer cooper |
| financ | plan closer cooper imf region | financ | agreement bric conting reserv arrang |
| also | bric conting reserv arrang would | also | help natur monetari polici new |
| polici | would also help natur monetari | polici | new normal bring third point |
| polici | bring third point natur monetari | polici | new normal question monetari polici |
| polici | polici new normal question monetari | polici | go beyond tradit focus price |
| need | coincid brew financi imbal policymak | need | pay attent financi stabil mean |
| polici | attent financi stabil mean monetari | polici | respons price stabil financi stabil |
| polici | stabil short answer macro microprudenti | polici | first choic preserv financi stabil |
| countri | includ sector risk rise mani | countri | adopt strong macroprudenti framework support |
| polici | rang new tool cours prudenti | polici | panacea effect may limit incomplet |
| polici | panacea effect may limit incomplet | polici | toolkit institut shortcom may also |
| also | polici toolkit institut shortcom may | also | negat side effect monetari polici |
| polici | also negat side effect monetari | polici | may sometim need lean wind |
| need | effect monetari polici may sometim | need | lean wind rise financi imbal |
| countri | focus remain price stabil final | countri | step macroprudenti polici worri surfac |
| polici | stabil final countri step macroprudenti | polici | worri surfac central bank independ |
| polici | one option assign monetari macroprudenti | polici | central bank ireland new zealand |
| also | one first adopt model could | also | macroprudenti council outsid central bank |
| countri | bank essenti unit state done | countri | continu experi differ institut like |
| polici | arrang work conclusionlet conclud monetari | polici | enter new normal chines economi |
| economi | polici enter new normal chines | economi | china deep structur reform lead |
| growth | reform lead slower safer sustain | growth | macroprudenti polici alreadi play major |
| polici | slower safer sustain growth macroprudenti | polici | alreadi play major role adjust |
| economi | new normal becom world largest | economi | imf stand readi help look |
| econom | discuss defin issu determin china | econom | develop year beyond discuss china |
| economi | develop year beyond discuss china | economi | new normal come pivot moment |
| growth | reform lead slower safer sustain | growth | good china good world fate |
| economi | inde china navig new normal | economi | also contribut global common good |
| also | china navig new normal economi | also | contribut global common good econom |
| global | new normal economi also contribut | global | common good econom financi stabil |
| econom | also contribut global common good | econom | financi stabil environment sustain multilater |
| global | sustain multilater approach equal press | global | challeng face us today china |
| econom | alon imf proud partner china | econom | endeavor home global stage look |
| global | partner china econom endeavor home | global | stage look forward fruit discuss |
| also | hard day day achiev goal | also | imag renew hope harmoni qualiti |
| global | hope harmoni qualiti china bring | global | economi global economi continu weigh |
| economi | harmoni qualiti china bring global | economi | global economi continu weigh low |
| global | qualiti china bring global economi | global | economi continu weigh low growth |
| economi | china bring global economi global | economi | continu weigh low growth high |
| growth | global economi continu weigh low | growth | high debt high unemploy world |
| need | high debt high unemploy world | need | thrive chines economi china need |
| economi | unemploy world need thrive chines | economi | china need thrive global economi |
| need | need thrive chines economi china | need | thrive global economi harmoni interest |
| global | chines economi china need thrive | global | economi harmoni interest need nurtur |
| economi | economi china need thrive global | economi | harmoni interest need nurtur day |
| need | thrive global economi harmoni interest | need | nurtur day day global cooper |
| global | interest need nurtur day day | global | cooper nation effort individu contribut |
| need | reserv special occas simpl pleasur | need | long day work studi admir |
| economi | cup tea relev right run | economi | akin brew exquisit cup chines |
| global | like discuss three topic ingredi | global | growth ingredi china econom growth |
| growth | discuss three topic ingredi global | growth | ingredi china econom growth ingredi |
| econom | ingredi global growth ingredi china | econom | growth ingredi success ingredi global |
| growth | global growth ingredi china econom | growth | ingredi success ingredi global growthlet |
| global | econom growth ingredi success ingredi | global | growthlet begin global econom cup |
| global | success ingredi global growthlet begin | global | econom cup tea six year |
| econom | ingredi global growthlet begin global | econom | cup tea six year start |
| global | cup tea six year start | global | financi crisi still feel bitter |
| countri | unemploy bitter legaci crisi mani | countri | still struggl overcom mani compani |
| growth | invest consumpt concern low futur | growth | linger weak held back global |
| global | growth linger weak held back | global | recoveri imf recent cut global |
| global | global recoveri imf recent cut | global | growth forecast despit boost cheaper |
| growth | recoveri imf recent cut global | growth | forecast despit boost cheaper oil |
| growth | boost cheaper oil stronger u | growth | recoveri remain fragil signific risk |
| polici | eman expect tighten u monetari | polici | time countri eas monetari condit |
| countri | tighten u monetari polici time | countri | eas monetari condit well manag |
| polici | condit well manag asynchron monetari | polici | may trigger excess volatil global |
| global | polici may trigger excess volatil | global | financi market anoth risk strengthen |
| market | trigger excess volatil global financi | market | anoth risk strengthen u dollar |
| market | u dollar possibl impact emerg | market | economi countri could vulner mani |
| economi | dollar possibl impact emerg market | economi | countri could vulner mani bank |
| countri | possibl impact emerg market economi | countri | could vulner mani bank compani |
| growth | year risk prolong period low | growth | low inflat japan euro area |
| need | euro area point one thing | need | power polici mix key ingredi |
| polici | point one thing need power | polici | mix key ingredi greater structur |
| countri | key ingredi greater structur reform | countri | includ china mani countri mean |
| countri | reform countri includ china mani | countri | mean ramp public invest expand |
| market | social safeti net labor product | market | also mean unleash econom power |
| also | safeti net labor product market | also | mean unleash econom power million |
| econom | product market also mean unleash | econom | power million women lock labor |
| market | power million women lock labor | market | g group lead economi includ |
| economi | labor market g group lead | economi | includ china put reform center |
| growth | china put reform center new | growth | strategi initi expect add us |
| global | initi expect add us trillion | global | economi creat million new job |
| economi | expect add us trillion global | economi | creat million new job next |
| countri | four year plan must implement | countri | countri reform reform mean china |
| countri | year plan must implement countri | countri | reform reform mean china global |
| global | countri reform reform mean china | global | condit affect china most trade |
| growth | commod price exampl stronger u | growth | good news chines export cheaper |
| market | prospect sustain weak demand emerg | market | euro area china largest trade |
| global | time china provid muchneed support | global | economi account third global growth |
| economi | china provid muchneed support global | economi | account third global growth past |
| global | support global economi account third | global | growth past seven year retain |
| growth | global economi account third global | growth | past seven year retain lead |
| need | year retain lead posit china | need | keep reinvent econom ingredi china |
| econom | posit china need keep reinvent | econom | ingredi china transform remark short |
| economi | remark short period inwardlook lessdevelop | economi | world biggest manufactur trade nation |
| economi | nation grow becom world largest | economi | china stand yet cusp anoth |
| econom | selftransform second topic ingredi china | econom | growth china biggest challeng avoid |
| growth | second topic ingredi china econom | growth | china biggest challeng avoid get |
| countri | call middleincom trap china middleincom | countri | one determin becom highincom countri |
| countri | countri one determin becom highincom | countri | premier li keqiang recent said |
| growth | new normal slower safer sustain | growth | context imf forecast gdp growth |
| growth | growth context imf forecast gdp | growth | percent half percentag point less |
| growth | let clear slower safer sustain | growth | good china peopl good world |
| econom | china peopl good world brew | econom | cup tea slowli china end |
| growth | invest consumpt manufactur servic capitalintens | growth | one driven innov higher skill |
| econom | condit get work done preserv | econom | financi stabil govern creat condit |
| growth | adjust unfold safe exampl credit | growth | slow past month help contain |
| also | contain vulner financi system govern | also | press ahead ambiti marketori reform |
| financ | remov barrier privat compani area | financ | educ health telecom logist sector |
| financ | pragmat busi innov intern outlook | financ | play particular import role shanghai |
| also | made deposit rate flexibl govern | also | encourag privat investor establish small |
| also | promot better price alloc credit | also | mean develop greater toler corpor |
| market | common ingredi greater willing allow | market | forc work let work lead |
| growth | let work lead safer higherqu | growth | china also need sustain growth |
| also | lead safer higherqu growth china | also | need sustain growth mani countri |
| need | safer higherqu growth china also | need | sustain growth mani countri around |
| growth | growth china also need sustain | growth | mani countri around world china |
| countri | also need sustain growth mani | countri | around world china econom success |
| econom | mani countri around world china | econom | success come price increas environment |
| growth | generat greener inclus wide share | growth | know green good often chines |
| growth | major challeng bad health bad | growth | clear environment awar increas level |
| polici | action taken china step green | polici | crack industri pollut spearhead innov |
| growth | inequ lead slower less sustain | growth | strengthen social safeti net improv |
| polici | reduc incom inequ smart redistribut | polici | includ progress taxat gender inequ |
| growth | gender equiti lead higher sustain | growth | china often said women hold |
| also | half sky generat ensur women | also | hold half economi bring third |
| economi | ensur women also hold half | economi | bring third topic ingredi success |
| global | opportun bring togeth individu nation | global | ingredi mean mean use skill |
| global | skill creat chines product servic | global | impact think biotech green technolog |
| market | expect smartphon chines firm seiz | market | opportun think opportun film music |
| global | music china begin sing song | global | audienc creat highend product global |
| global | global audienc creat highend product | global | custom requir global view travel |
| global | highend product global custom requir | global | view travel foreign languag oversea |
| economi | happen reput banker mani advanc | economi | still struggl rebuild trust broken |
| global | still struggl rebuild trust broken | global | financi crisi said ethic behavior |
| global | thing legal ponder limitless opportun | global | leader may also want consid |
| also | limitless opportun global leader may | also | want consid benefit failur succeed |
| global | imf one place bring togeth | global | nation individu ingredi good compani |
| global | help imf achiev mission preserv | global | econom financi stabil particular grate |
| econom | imf achiev mission preserv global | econom | financi stabil particular grate deputi |
| countri | support execut board repres member | countri | imf premier forum econom cooper |
| econom | member countri imf premier forum | econom | cooper world today annual checkup |
| countri | world today annual checkup everi | countri | economi call surveil lend countri |
| economi | today annual checkup everi countri | economi | call surveil lend countri time |
| countri | countri economi call surveil lend | countri | time crisi also work close |
| also | surveil lend countri time crisi | also | work close member bolster capac |
| countri | help analyz spillov effect one | countri | polici other futur believ one |
| polici | analyz spillov effect one countri | polici | other futur believ one valuabl |
| global | believ one valuabl contribut interconnect | global | economi world connect unit fact |
| economi | one valuabl contribut interconnect global | economi | world connect unit fact world |
| global | matter climat chang intern develop | global | financi stabil china key role |
| global | role play shape stronger form | global | cooper call new multilater later |
| global | next year china chanc set | global | econom agenda presid g excit |
| econom | year china chanc set global | econom | agenda presid g excit prospect |
| also | agenda presid g excit prospect | also | great respons conclusionlet conclud past |
| econom | three decad china amaz world | econom | transform next decad china astound |
| global | next decad china astound world | global | econom leadership futur leader import |
| econom | decad china astound world global | econom | leadership futur leader import ingredi |
| econom | new china said begin brew | econom | cup tea requir delic mix |
| growth | sinc found one constant dynam | growth | would like thank governor zeti |
| growth | macroeconom financi institut facilit strong | growth | encourag inclus tonight talk econom |
| econom | growth encourag inclus tonight talk | econom | converg asean futur converg mean |
| countri | converg mean decadeslong process asean | countri | rais live standard join rank |
| economi | live standard join rank advanc | economi | time issu asean countri million |
| countri | advanc economi time issu asean | countri | million peopl divers stage develop |
| countri | accomplish tonight talk potenti asean | countri | achiev converg take achiev goal |
| countri | goal let begin consid host | countri | twenti year ago malaysia gdp |
| economi | uk cours full converg advanc | economi | distant goal asean countri frontier |
| countri | advanc economi distant goal asean | countri | frontier economi aspir join rank |
| economi | distant goal asean countri frontier | economi | aspir join rank emerg market |
| market | economi aspir join rank emerg | market | also attain goal needless say |
| also | aspir join rank emerg market | also | attain goal needless say challeng |
| global | say challeng converg depend develop | global | economi let start review right |
| economi | challeng converg depend develop global | economi | let start review right ll |
| global | right ll turn asean challeng | global | outlookyou well awar global growth |
| global | challeng global outlookyou well awar | global | growth weaker sinc financi crisi |
| growth | global outlookyou well awar global | growth | weaker sinc financi crisi fact |
| global | fact repeat revis forecast expect | global | growth percent year rise percent |
| growth | repeat revis forecast expect global | growth | percent year rise percent one |
| growth | factor mind mani asia slower | growth | emerg market countri china deceler |
| market | mani asia slower growth emerg | market | countri china deceler alreadi impact |
| countri | asia slower growth emerg market | countri | china deceler alreadi impact global |
| global | countri china deceler alreadi impact | global | demand growth expect moder year |
| growth | deceler alreadi impact global demand | growth | expect moder year mani emerg |
| market | expect moder year mani emerg | market | countri see growth slow also |
| countri | moder year mani emerg market | countri | see growth slow also anoth |
| growth | mani emerg market countri see | growth | slow also anoth factor diverg |
| also | market countri see growth slow | also | anoth factor diverg among advanc |
| economi | anoth factor diverg among advanc | economi | europ continu struggl although sign |
| growth | sign strengthen japan experienc modest | growth | u gain momentum ad support |
| polici | support lower oil price fed | polici | oil export includ feel pinch |
| global | overal expect impact net posit | global | economi still signific global risk |
| economi | expect impact net posit global | economi | still signific global risk particular |
| global | posit global economi still signific | global | risk particular volatil financi market |
| market | global risk particular volatil financi | market | pressur could aris larg movement |
| global | key currenc phenomenon seen year | global | economi despit risk asean recent |
| economi | currenc phenomenon seen year global | economi | despit risk asean recent perform |
| growth | percent annual sinc crisi although | growth | slow somewhat resili reflect dynam |
| also | class drive consumpt invest asean | also | remain magnet foreign direct invest |
| global | hit record high billion percent | global | total know outlook without risk |
| polici | uncertainti oil price interest rate | polici | advanc economi asean potentialnow let |
| economi | price interest rate polici advanc | economi | asean potentialnow let relat back |
| econom | let relat back converg import | econom | forc drive asean converg exportl |
| growth | forc drive asean converg exportl | growth | industri benefit region recent domest |
| financ | close gap technolog infrastructur educ | financ | requir rang reform exampl scale |
| growth | closer look potenti sourc product | growth | converg macroeconom financi policiesperhap basic |
| polici | build block macroeconom financi stabil | polici | effect includ expansionari monetari fiscal |
| polici | effect includ expansionari monetari fiscal | polici | countercycl respons crisi rais govern |
| also | good servic tax fiscal reform | also | requir target support needi ensur |
| polici | needi ensur equiti meanwhil monetari | polici | accommod hold reflect weaker global |
| global | polici accommod hold reflect weaker | global | growth continu unconvent monetari polici |
| growth | accommod hold reflect weaker global | growth | continu unconvent monetari polici advanc |
| polici | global growth continu unconvent monetari | polici | advanc economi know well awar |
| economi | continu unconvent monetari polici advanc | economi | know well awar circumst could |
| also | awar circumst could chang quick | also | prepar defend volatil capit flow |
| polici | flow reflect success use macroprudenti | polici | address risk rapid increas credit |
| polici | macroeconom research offic beyond macroeconom | polici | reform contribut converg first ongo |
| growth | modern farm method industri exportl | growth | trend absorb surplus rural labor |
| economi | area servic industri repres percent | economi | asean countri still larg tradit |
| countri | industri repres percent economi asean | countri | still larg tradit farm economi |
| economi | countri still larg tradit farm | economi | thailand disproportion high labor share |
| global | rais level particip labor forc | global | economi increas driven technolog innov |
| economi | level particip labor forc global | economi | increas driven technolog innov skill |
| econom | educ system must keep pace | econom | chang also confront demograph headwind |
| also | must keep pace econom chang | also | confront demograph headwind accompani converg |
| polici | converg age societi alreadi import | polici | concern singapor face soon one |
| need | converg adb estim asia infrastructur | need | trillion year trillion asean world |
| econom | trillion year trillion asean world | econom | outlook examin issu last year |
| economi | potenti output selffinanc substanti slack | economi | mani countri fiscal space scale |
| countri | selffinanc substanti slack economi mani | countri | fiscal space scale infrastructur invest |
| need | fiscal space scale infrastructur invest | need | public financi manag system ensur |
| also | talent fund toler risk take | also | key protect intellectu properti right |
| growth | field interest despit relat strong | growth | increas sophist export asean total |
| polici | univers privat sector govern ventur | polici | succeed countri need balanc support |
| countri | sector govern ventur polici succeed | countri | need balanc support startup one |
| need | govern ventur polici succeed countri | need | balanc support startup one hand |
| econom | side side failur free trade | econom | integr also play import role |
| also | failur free trade econom integr | also | play import role growth converg |
| growth | integr also play import role | growth | converg asean trade larg free |
| need | trade larg free tariff progress | need | nontariff barrier especi affect servic |
| econom | agreement transpacif partnership region comprehens | econom | partnership also help reduc nontariff |
| also | partnership region comprehens econom partnership | also | help reduc nontariff barrier promot |
| growth | financi deepeninggreat financi integr contribut | growth | converg manag well acceler financi |
| market | region larger deeper liquid financi | market | lower cost capit improv resourc |
| also | enhanc diversif risk resili shock | also | lengthen matur financ improv trade |
| financ | resili shock also lengthen matur | financ | improv trade settlement practic financi |
| growth | practic financi deepen help enhanc | growth | increas employ spread financi inclus |
| also | standard greater financi integr could | also | help overcom present fragment nation |
| econom | common disclosur requir import asean | econom | communiti call regulatori harmon strengthen |
| polici | communiti call regulatori harmon strengthen | polici | coordin financi integr also help |
| also | strengthen polici coordin financi integr | also | help asean lessfinanci develop economi |
| economi | also help asean lessfinanci develop | economi | process converg stand gain know |
| growth | risk financi integr rapid credit | growth | accompani financi develop negat affect |
| market | year offer mani lesson risk | market | volatil global financi system welcom |
| global | mani lesson risk market volatil | global | financi system welcom effort strengthen |
| countri | prosper asean set exampl develop | countri | around globe aspir econom progress |
| econom | develop countri around globe aspir | econom | progress steadi macroeconom manag econom |
| econom | econom progress steadi macroeconom manag | econom | reform liber along invest innov |
| economi | stage converg live standard advanc | economi | imf look forward work attain |
| econom | economist one fund fortun enough | econom | counselor raghu certain busi sinc |
| economi | rbi septemb deft steer indian | economi | safer water hit market turmoil |
| market | indian economi safer water hit | market | turmoil follow taper tantrum episod |
| polici | target new regim conduct monetari | polici | welcom step india monetari polici |
| polici | polici welcom step india monetari | polici | rest good hand let talk |
| market | concern central bank colleagu emerg | market | countri refer cours unconvent monetari |
| countri | central bank colleagu emerg market | countri | refer cours unconvent monetari eas |
| economi | unconvent monetari eas larg advanc | economi | follow global financi crisi perhap |
| global | eas larg advanc economi follow | global | financi crisi perhap approach point |
| countri | interest rate later year first | countri | start process normal monetari polici |
| polici | countri start process normal monetari | polici | even process well manag like |
| market | well manag like volatil financi | market | could give rise potenti stabil |
| polici | us think today risk monetari | polici | spillov call done minim potenti |
| global | minim potenti advers consequ state | global | economi challengesit best begin discuss |
| economi | potenti advers consequ state global | economi | challengesit best begin discuss place |
| global | begin discuss place context current | global | develop risk world economi still |
| economi | current global develop risk world | economi | still face global growth still |
| global | risk world economi still face | global | growth still fragil uneven despit |
| growth | world economi still face global | growth | still fragil uneven despit boost |
| global | still fragil uneven despit boost | global | growth declin oil price expect |
| growth | fragil uneven despit boost global | growth | declin oil price expect world |
| economi | declin oil price expect world | economi | grow percent year pick modest |
| countri | percent outlook differ signific across | countri | region advanc economi growth rebound |
| economi | signific across countri region advanc | economi | growth rebound unit state unit |
| growth | across countri region advanc economi | growth | rebound unit state unit kingdom |
| market | invest yet recov fulli emerg | market | develop countri growth project pick |
| countri | recov fulli emerg market develop | countri | growth project pick less percent |
| growth | fulli emerg market develop countri | growth | project pick less percent year |
| countri | next year vari wide across | countri | well among emerg market india |
| market | across countri well among emerg | market | india shine bright doubt india |
| countri | drop oil price oil import | countri | import howev india reap benefit |
| polici | howev india reap benefit good | polici | polici announc meet prime minist |
| polici | india reap benefit good polici | polici | announc meet prime minist modi |
| financ | announc meet prime minist modi | financ | minist jaitley yesterday left strong |
| econom | gdp statist suggest strong pace | econom | activ year next challengesyet mani |
| global | challengesyet mani challeng lie ahead | global | economi two particular relev india |
| economi | mani challeng lie ahead global | economi | two particular relev india first |
| polici | u recoveri combin diverg monetari | polici | path advanc economi put pressur |
| economi | diverg monetari polici path advanc | economi | put pressur countri whose exchang |
| countri | path advanc economi put pressur | countri | whose exchang rate regim link |
| also | currenc heavili appreci u dollar | also | put pressur balanc sheet bank |
| polici | theme remark prospect normal monetari | polici | unit state spillov emerg market |
| market | polici unit state spillov emerg | market | risk financi market capit flow |
| market | spillov emerg market risk financi | market | capit flow volatil along sudden |
| polici | topic detail spillov unconvent monetari | polici | lesson emerg marketsunconvent monetari polici |
| polici | polici lesson emerg marketsunconvent monetari | polici | includ larg purchas govern debt |
| polici | purchas govern debt use provid | polici | accommod advanc economi sinc global |
| economi | use provid polici accommod advanc | economi | sinc global financi crisi polici |
| global | polici accommod advanc economi sinc | global | financi crisi polici posit negat |
| polici | economi sinc global financi crisi | polici | posit negat spillov unconvent monetari |
| polici | posit negat spillov unconvent monetari | polici | help avoid financi market meltdown |
| market | monetari polici help avoid financi | market | meltdown initi stage crisi later |
| economi | crisi later support recoveri advanc | economi | elsewher convinc polici necessari avert |
| polici | recoveri advanc economi elsewher convinc | polici | necessari avert style global depress |
| global | convinc polici necessari avert style | global | depress extent unconvent monetari polici |
| polici | global depress extent unconvent monetari | polici | strong posit spillov global economi |
| global | monetari polici strong posit spillov | global | economi implic india emerg market |
| economi | polici strong posit spillov global | economi | implic india emerg market howev |
| market | global economi implic india emerg | market | howev also true polici led |
| also | implic india emerg market howev | also | true polici led buildup risk |
| polici | emerg market howev also true | polici | led buildup risk part world |
| market | risk part world end emerg | market | receiv us  ½ trillion |
| global | inflow repres rough one half | global | capit flow inflow concentr group |
| countri | flow inflow concentr group larg | countri | includ india receiv us billion |
| market | asset price capit flow emerg | market | economi expansionari unconvent monetari polici |
| economi | price capit flow emerg market | economi | expansionari unconvent monetari polici even |
| polici | market economi expansionari unconvent monetari | polici | even greater earlier convent polici |
| polici | polici even greater earlier convent | polici | danger vulner build period accommod |
| polici | vulner build period accommod monetari | polici | unwind sudden polici revers creat |
| polici | accommod monetari polici unwind sudden | polici | revers creat substanti market volatil |
| market | sudden polici revers creat substanti | market | volatil alreadi got tast taper |
| market | tantrum episod may june emerg | market | economi suffer indiscrimin capit outflow |
| economi | episod may june emerg market | economi | suffer indiscrimin capit outflow india |
| also | suffer indiscrimin capit outflow india | also | affect afraid may oneoff episod |
| market | subsequ rate increas still surpris | market | econom condit improv least advanc |
| econom | rate increas still surpris market | econom | condit improv least advanc economi |
| economi | econom condit improv least advanc | economi | portfolio rebalanc emerg market economi |
| market | advanc economi portfolio rebalanc emerg | market | economi expect volatil cannot rule |
| economi | economi portfolio rebalanc emerg market | economi | expect volatil cannot rule emerg |
| market | expect volatil cannot rule emerg | market | need prepar advanc deal uncertainti |
| need | volatil cannot rule emerg market | need | prepar advanc deal uncertainti lesson |
| economi | like share first foremost advanc | economi | help clear effect communic polici |
| polici | economi help clear effect communic | polici | intent reduc risk creat larg |
| market | intent reduc risk creat larg | market | volatil admit difficult task would |
| also | volatil admit difficult task would | also | agre scope greater intern polici |
| polici | also agre scope greater intern | polici | cooper minim negat spillov second |
| market | minim negat spillov second emerg | market | need prepar well advanc evid |
| need | negat spillov second emerg market | need | prepar well advanc evid research |
| market | advanc evid research suggest emerg | market | alreadi address econom vulner taper |
| econom | suggest emerg market alreadi address | econom | vulner taper tantrum fare better |
| market | taper tantrum fare better episod | market | volatil particular higher gdp growth |
| growth | market volatil particular higher gdp | growth | stronger extern current account posit |
| market | posit lower inflat liquid financi | market | help dampen market volatil addit |
| market | liquid financi market help dampen | market | volatil addit resili financi sector |
| also | therefor go right direct time | also | need pursu utmost speed third |
| need | go right direct time also | need | pursu utmost speed third market |
| market | need pursu utmost speed third | market | volatil materi central bank need |
| need | market volatil materi central bank | need | readi act temporari though aggress |
| market | domest liquid support certain sector | market | may necessari along target foreign |
| market | access foreign exchang liquid time | market | stress exampl good fundament well |
| polici | good fundament well decis swift | polici | respons help countri reduc cope |
| countri | decis swift polici respons help | countri | reduc cope market volatil think |
| market | respons help countri reduc cope | market | volatil think korea improv resili |
| countri | term extern debt half percent | countri | brazil uruguay indonesia use form |
| market | direct though temporarili foreign exchang | market | limit excess volatil india rbi |
| also | minim disrupt movement rupe rbi | also | arrest surg gold import narrow |
| economi | domest extern vulner mani emerg | economi | mean work done well would |
| polici | work done apart short term | polici | respons deal acut econom crise |
| econom | term polici respons deal acut | econom | crise equal import continu build |
| growth | good time support broad base | growth | provid effect buffer bad time |
| economi | financi develop pursu experi advanc | economi | shown danger aris overs financi |
| growth | rethink financi develop implic stabil | growth | emerg market work still final |
| market | develop implic stabil growth emerg | market | work still final publish next |
| market | still reap financi develop emerg | market | includ india financi develop mean |
| market | mean greater depth effici institut | market | well higher access citizen bank |
| financ | modi commit broaden access formal | financ | segment popul ambiti dhan yojana |
| econom | deepen financi institut lead instabl | econom | financi encourag greater risktak high |
| market | supervisori regim bank insur secur | market | best intern practic also adopt |
| also | secur market best intern practic | also | adopt exampl india well ahead |
| countri | exampl india well ahead mani | countri | implement basel iii standard govern |
| growth | lead path higher sustain inclus | growth | thank |
| also | great aung san suu kyi | also | find ladi shri ram philosophi |
| also | costeffect way send mission mar | also | gave us yoga ayurveda bollywood |
| countri | broken fragment narrow domest wall | countri | special moment india mani countri |
| countri | countri special moment india mani | countri | around world grappl low growth |
| growth | countri around world grappl low | growth | india march opposit direct year |
| growth | opposit direct year alreadi india | growth | rate expect exceed china overtak |
| countri | exceed china overtak china popul | countri | world condit ripe india reap |
| global | demograph dividend becom key engin | global | growth verg new chapter fill |
| growth | dividend becom key engin global | growth | verg new chapter fill immens |
| global | serv better tomorrow take tour | global | economi explor inject greater momentum |
| economi | better tomorrow take tour global | economi | explor inject greater momentum ii |
| economi | momentum ii share view india | economi | consid readi fli higher iii |
| growth | fli higher iii talk qualiti | growth | benefit poor women youth india |
| global | poor women youth india state | global | economi inject greater momentumlet start |
| economi | women youth india state global | economi | inject greater momentumlet start state |
| global | inject greater momentumlet start state | global | economi six year global financi |
| economi | greater momentumlet start state global | economi | six year global financi crisi |
| global | state global economi six year | global | financi crisi recoveri remain slow |
| global | slow brittl lopsid pare forecast | global | growth sinc last octob despit |
| growth | brittl lopsid pare forecast global | growth | sinc last octob despit boost |
| growth | boost cheaper oil stronger u | growth | global economi expect grow percent |
| global | cheaper oil stronger u growth | global | economi expect grow percent year |
| economi | oil stronger u growth global | economi | expect grow percent year percent |
| economi | still could expect crisi advanc | economi | prospect continu weigh highhigh lowlow |
| growth | high debt high unemploy low | growth | low inflat mani firm household |
| growth | invest consumpt today concern low | growth | futur apart unit state unit |
| growth | unit kingdom promis recoveri continu | growth | remain rather low euro area |
| market | momentum slow mani larg emerg | market | economi china deceler sustain growth |
| economi | slow mani larg emerg market | economi | china deceler sustain growth rate |
| growth | market economi china deceler sustain | growth | rate wherea russia brazil albeit |
| global | rate still signific risk fragil | global | recoveri first risk call asynchron |
| polici | first risk call asynchron monetari | polici | advanc economi normal monetari polici |
| economi | call asynchron monetari polici advanc | economi | normal monetari polici unit state |
| polici | polici advanc economi normal monetari | polici | unit state unit kingdom japan |
| market | may result excess volatil financi | market | includ india second risk euro |
| countri | prolong period would make harder | countri | reduc unemploy excess public privat |
| economi | globe third risk emerg develop | economi | could face tripl hit stronger |
| global | hit stronger u dollar higher | global | interest rate volatil capit flow |
| market | signific impact financi system emerg | market | includ india mani bank compani |
| polici | world point one thing coordin | polici | renew momentum global economi practic |
| global | thing coordin polici renew momentum | global | economi practic mean accommod monetari |
| economi | coordin polici renew momentum global | economi | practic mean accommod monetari polici |
| polici | economi practic mean accommod monetari | polici | appropri growth jobfriend fiscal adjust |
| growth | mean accommod monetari polici appropri | growth | jobfriend fiscal adjust much need |
| need | growth jobfriend fiscal adjust much | need | structur reform critic lift employ |
| growth | structur reform critic lift employ | growth | countri world exampl drop oil |
| countri | reform critic lift employ growth | countri | world exampl drop oil price |
| polici | cash transfer system protect poor | polici | imf push hard india made |
| global | india tomorrow readi fli india | global | configur cloudi global horizon india |
| global | fli india global configur cloudi | global | horizon india bright spot recent |
| polici | horizon india bright spot recent | polici | reform improv busi confid provid |
| econom | busi confid provid booster shot | econom | activ use india new gdp |
| growth | new gdp seri imf expect | growth | pick percent fiscal year acceler |
| economi | make india fastest grow larg | economi | world inde brighter futur forg |
| economi | brighter futur forg right eye | economi | doubl size compar adjust differ |
| economi | compar adjust differ purchas price | economi | india gdp exceed japan germani |
| also | japan germani combin indian output | also | exceed combin output three next |
| market | output three next largest emerg | market | economi russia brazil indonesia clear |
| economi | three next largest emerg market | economi | russia brazil indonesia clear india |
| market | india weight among group emerg | market | increas much popul growth percent |
| growth | emerg market increas much popul | growth | percent india popul current age |
| market | age million peopl enter labor | market | everi year india expect largest |
| global | india grow take right place | global | economi focus remain sound polici |
| economi | grow take right place global | economi | focus remain sound polici inclus |
| polici | global economi focus remain sound | polici | inclus institut stronger econom framework |
| econom | sound polici inclus institut stronger | econom | framework come make economi resili |
| economi | stronger econom framework come make | economi | resili nimbl ever support growth |
| growth | economi resili nimbl ever support | growth | let start fiscal polici sound |
| polici | support growth let start fiscal | polici | sound growthfriend revenu expenditur framework |
| polici | implement good servic tax monetari | polici | sound monetari polici framework keep |
| polici | tax monetari polici sound monetari | polici | framework keep inflat control ensur |
| growth | institut foundat maintain price stabil | growth | pick final sound healthi financi |
| growth | sector essenti support strong sustain | growth | requir bank includ public sector |
| also | help strengthen bank balanc sheet | also | synergi fiscal consolid financi intermedi |
| growth | toward lend privat sector invest | growth | still intern experi tell us |
| growth | intern experi tell us ambiti | growth | rate cannot goal also support |
| also | ambiti growth rate cannot goal | also | support increas wellb popul improv |
| growth | tradit exclud includ make india | growth | inclusivethi take last topic want |
| growth | want discuss today make india | growth | inclus sustain unleash potenti womenstart |
| countri | feel safe citi villag beauti | countri | hearten prime minist campaign save |
| also | level play field moral right | also | make econom sens tap potenti |
| econom | field moral right also make | econom | sens tap potenti women game |
| countri | potenti women game changer mani | countri | india differ fact releas studi |
| global | labor forc particip rate lower | global | averag percent well east asia |
| countri | particip one widest among g | countri | declin india femal labor forc |
| need | cup frontpag news urgent remedi | need | good start point make indian |
| market | start point make indian labor | market | flexibl studi suggest number legal |
| market | remov facilit entri women labor | market | would also allow women move |
| also | entri women labor market would | also | allow women move inform sector |
| econom | empower access credit key link | econom | opportun econom outcom empow individu |
| econom | credit key link econom opportun | econom | outcom empow individu famili cultiv |
| econom | outcom empow individu famili cultiv | econom | opportun financi inclus power agent |
| growth | inclus power agent strong inclus | growth | alreadi lot world learn india |
| global | lot world learn india economist | global | microscop rank india high creat |
| also | achiev short span time india | also | expand basic insur coverag peopl |
| need | use account provid cash transfer | need | program countri mexico prospera also |
| countri | provid cash transfer need program | countri | mexico prospera also capit link |
| also | need program countri mexico prospera | also | capit link financi inclus target |
| growth | financi system boost invest job | growth | iii invest infrastructureth third final |
| market | mean mean effici connect peopl | market | domest global mean cyberconnect highwayconnect |
| global | effici connect peopl market domest | global | mean cyberconnect highwayconnect know connect |
| need | connect social media level interact | need | connect consum countri port shop |
| countri | level interact need connect consum | countri | port shop factori make india |
| need | open competit busi environ flourish | need | reliabl afford sourc energi transport |
| need | energi transport communic india infrastructur | need | immens estim addit us trillion |
| need | spend infrastructur step right direct | need | done crowd addit privat invest |
| need | partnership infrastructur critic ensur india | need | address mani project delay due |
| need | regulatori uncertainti bureaucrat holdup much | need | done eas land acquisit expedit |
| need | conclusionlet conclud current junctur world | need | vibrant india india need world |
| need | world need vibrant india india | need | world one largest commod import |
| economi | flow essenti support india vibrant | economi | grow econom size power come |
| econom | support india vibrant economi grow | econom | size power come greater leadership |
| global | see india becom even activ | global | stage fora g imf imf |
| global | stage fora g imf imf | global | multilater institut countri like india |
| countri | imf imf global multilater institut | countri | like india deserv bigger say |
| also | india huge pool youth would | also | like acknowledg mani talent indian |
| econom | governor raghuram rajan one distinguish | econom | counselor old indian proverb say |
| global | today element align make india | global | powerhous india moment seiz chak |
| countri | toil persever true egypt today | countri | need deliv aspir peopl stronger |
| need | persever true egypt today countri | need | deliv aspir peopl stronger growth |
| growth | need deliv aspir peopl stronger | growth | better health educ system higher |
| market | five year new entrant labor | market | per year creat good job |
| econom | creat good job egypt youth | econom | social human prioriti go handinhand |
| econom | human prioriti go handinhand restor | econom | stabil shrink fiscal deficit reduc |
| polici | meet goal time yes right | polici | alreadi govern plan key implement |
| polici | alreadi govern plan key implement | polici | design right make hold mind |
| polici | reform process alreadi underway ii | polici | restor confid attract invest iii |
| growth | invest iii inclus factor sustain | growth | reform process alreadi underwaylet start |
| growth | start good news journey higher | growth | alreadi begun past month promis |
| countri | presid alsisi person lot prepar | countri | measur popular buyin achiev appropri |
| need | popular buyin achiev appropri dialogu | need | reform time part save use |
| financ | reform time part save use | financ | target cash transfer poor famili |
| also | import complet good ultim goal | also | import measur area taxat includ |
| economi | revenu percent gdp low modern | economi | like egypt follow vat instrument |
| financ | effect suez canal project fact | financ | main ordinari member egyptian societi |
| economi | confid desir turn thing around | economi | larg project like suez conduct |
| growth | like suez conduct effici support | growth | job creation good way go |
| polici | role yet invest goe confid | polici | certainti polici restor confid stay |
| polici | invest goe confid polici certainti | polici | restor confid stay cours reformsthi |
| econom | second topic restor confid egypt | econom | prospect clear stay cours reform |
| polici | reform agenda first order prioriti | polici | improv confid creat job support |
| econom | sever competit indic rank world | econom | forum competit index egypt better |
| polici | competit index egypt better right | polici | right level ambit egypt could |
| global | ambit egypt could crack top | global | competit new invest law import |
| also | sure potenti exchang rate flexibl | also | play role exchang rate balanc |
| growth | demand suppli foreign currenc support | growth | egypt financi posit third area |
| economi | jobcreat busi could signific help | economi | alreadi progress recent adopt microfin |
| growth | result term increas invest higher | growth | yet intern experi demonstr occasion |
| growth | experi demonstr occasion episod high | growth | cannot object per se growth |
| growth | growth cannot object per se | growth | sustain sustain need inclus inclus |
| need | per se growth sustain sustain | need | inclus inclus growth sustain growthwhich |
| growth | sustain sustain need inclus inclus | growth | sustain growthwhich bring last point |
| growth | growthwhich bring last point egyptian | growth | inclus order sustain mean inclus |
| growth | inclus order sustain mean inclus | growth | mean growth offer opportun women |
| growth | sustain mean inclus growth mean | growth | offer opportun women youth unemploy |
| growth | youth unemploy disabl mean benefit | growth | wide share felt peopl achiev |
| need | look youth women two group | need | better integr economi today one |
| economi | two group need better integr | economi | today one three young egyptian |
| countri | inflex work schedul mani exampl | countri | well women contribut larg share |
| econom | well women contribut larg share | econom | growth inclus also make good |
| growth | women contribut larg share econom | growth | inclus also make good econom |
| also | larg share econom growth inclus | also | make good econom sens also |
| econom | growth inclus also make good | econom | sens also role social spend |
| also | also make good econom sens | also | role social spend increas improv |
| need | cannot creat graduat equip skill | need | modern labor market implement effici |
| market | equip skill need modern labor | market | implement effici spend health educ |
| growth | educ could support higher inclus | growth | preserv fiscal sustain better educ |
| also | fiscal sustain better educ could | also | help narrow wage gap discourag |
| also | women work privat sector cours | also | link physic infrastructur better public |
| polici | conclusionlet conclud moment opportun right | polici | egypt govern deliv hope aspir |
| econom | steadfast implement reform help restor | econom | stabil instil confid spur job |
| growth | stabil instil confid spur job | growth | part imf remain commit help |
| countri | special alway profound move visit | countri | wit extraordinari chang taken place |
| econom | place sinc south africa polit | econom | achiev speak capac peopl divers |
| also | overcom differ pursuit common goal | also | clear much work left build |
| global | almost two year ago spoke | global | domest challeng countri face seek |
| countri | ago spoke global domest challeng | countri | face seek build sustain econom |
| econom | countri face seek build sustain | econom | growth need achiev higher live |
| growth | face seek build sustain econom | growth | need achiev higher live standard |
| need | seek build sustain econom growth | need | achiev higher live standard south |
| economi | south african highlight concern world | economi | struggl move past financi crisi |
| growth | spoke crucial structur issu constrain | growth | today would like revisit challeng |
| economi | let begin number last year | economi | grew percent meant per capita |
| also | meant per capita incom rise | also | meant unemploy rate among highest |
| countri | unemploy rate among highest g | countri | still onequart broader implic suggest |
| economi | uphil path build stronger product | economi | despit effort mani fellow south |
| growth | south africa continu face sluggish | growth | leav million behind moreov absenc |
| global | south africa vulner sudden shift | global | economi may sound bit bleak |
| economi | africa vulner sudden shift global | economi | may sound bit bleak would |
| countri | offer optimist messag mani thing | countri | continu transform economi societi let |
| economi | mani thing countri continu transform | economi | societi let take step back |
| global | let take step back begin | global | economi import impact south africa |
| economi | take step back begin global | economi | import impact south africa fortun |
| global | import impact south africa fortun | global | outlookglob growth past year weaker |
| growth | south africa fortun global outlookglob | growth | past year weaker hope wake |
| growth | among import negat trend weak | growth | emerg market countri impact across |
| market | negat trend weak growth emerg | market | countri impact across world imf |
| countri | trend weak growth emerg market | countri | impact across world imf slight |
| global | world imf slight reduc forecast | global | growth percent rise percent next |
| growth | imf slight reduc forecast global | growth | percent rise percent next year |
| econom | next year mani factor work | econom | includ geopolit shockwav ukrain middl |
| growth | know europ continu struggl although | growth | higher expect end show sign |
| growth | sign strengthen japan experienc modest | growth | among emerg economi china slower |
| economi | experienc modest growth among emerg | economi | china slower growth signific impact |
| growth | among emerg economi china slower | growth | signific impact global demand growth |
| global | china slower growth signific impact | global | demand growth expect moder come |
| growth | growth signific impact global demand | growth | expect moder come year good |
| polici | two year continu support monetari | polici | tell us advanc economi diverg |
| economi | monetari polici tell us advanc | economi | diverg lower oil price affect |
| countri | lower oil price affect differ | countri | differ overal good news global |
| global | countri differ overal good news | global | economi oil export includ africa |
| economi | differ overal good news global | economi | oil export includ africa certain |
| global | case south africa overal risk | global | economi must regard concern mani |
| economi | south africa overal risk global | economi | must regard concern mani link |
| market | regard concern mani link financi | market | sentiment compound vulner oil export |
| countri | compound vulner oil export exposur | countri | rise dollar outlook subsaharan africather |
| growth | even reduc demand commod slower | growth | among emerg market countri region |
| market | commod slower growth among emerg | market | countri region expect maintain high |
| countri | slower growth among emerg market | countri | region expect maintain high rate |
| growth | region expect maintain high rate | growth | growth region remain  ¾ |
| growth | expect maintain high rate growth | growth | region remain  ¾ percent |
| econom | percent year import subsaharan africa | econom | perform past year chang contin |
| growth | chang contin outlook profound high | growth | part result demand commod invest |
| market | result demand commod invest emerg | market | also result stronger govern polici |
| also | demand commod invest emerg market | also | result stronger govern polici framework |
| polici | market also result stronger govern | polici | framework develop servic financi sector |
| countri | increas farm product invest infrastructur | countri | struggl gain momentum ebola crisi |
| countri | ebola crisi hurt three affect | countri | africa done well need continu |
| need | affect countri africa done well | need | continu path south africa play |
| economi | play import role subsaharan african | economi | compani expand rapid north benefit |
| growth | rapid north benefit region robust | growth | integr mutual benefici forg higher |
| economi | encourag competit given rise greater | economi | scale fill gap left european |
| market | left european bank syndic loan | market | also small medium enterpris south |
| also | european bank syndic loan market | also | small medium enterpris south africa |
| growth | outlook south africahowev south africa | growth | trajectori mirror rest subsaharan africa |
| growth | africa outlook beyond continu sluggish | growth | privat consumpt strengthen part support |
| growth | perform lacklust last year percent | growth | lowest sinc rebound percent year |
| market | industri relat normal low emerg | market | standard also comparison countri south |
| also | normal low emerg market standard | also | comparison countri south africa current |
| countri | emerg market standard also comparison | countri | south africa current account fiscal |
| need | mean young worker equip skill | need | modern economi health standard also |
| economi | worker equip skill need modern | economi | health standard also continu lag |
| also | need modern economi health standard | also | continu lag south africa experienc |
| market | mani extern challeng develop emerg | market | countri weak extern demand soft |
| countri | extern challeng develop emerg market | countri | weak extern demand soft commod |
| growth | institut includ imf estim potenti | growth | south africa sort speed limit |
| economi | south africa sort speed limit | economi | come percent percent year ago |
| growth | year ago look ahead consumptiondriven | growth | model past year unlik sustain |
| polici | expect rest world fiscal monetari | polici | stimulus cannot lift growth creat |
| growth | monetari polici stimulus cannot lift | growth | creat job sustain basi decis |
| polici | relat reduc skill mismatch lower | polici | uncertainti greater competit sever sector |
| growth | reduc vulner develop unlik boost | growth | job current structur constraint take |
| need | structur issu mention import essenc | need | fundament shift core dynam south |
| economi | shift core dynam south african | economi | bring togeth insid outsid across |
| market | insid outsid across product labor | market | lift invest growth employ area |
| growth | product labor market lift invest | growth | employ area reform way financi |
| market | buffer manag exposur foreign exchang | market | diversif market subsaharan africa howev |
| market | exposur foreign exchang market diversif | market | subsaharan africa howev system high |
| also | encourag shift wholesal retail fund | also | increas competit financi system would |
| growth | lowincom household would contribut inclus | growth | job small medium enterpris mani |
| countri | job small medium enterpris mani | countri | provid employ south africa budget |
| growth | year public debt increas substanti | growth | disappoint consolid reduc vulner ensur |
| growth | stabl macroeconom environ necessari condit | growth | budget also take activ measur |
| also | environ necessari condit growth budget | also | take activ measur contribut growth |
| growth | also take activ measur contribut | growth | direct tangibl way priorit infrastructur |
| growth | includ educ health risk stronger | growth | put public financ much stronger |
| financ | risk stronger growth put public | financ | much stronger foot bring back |
| need | blueprint nation develop plan implement | need | step consist way reduc uncertainti |
| polici | consist way reduc uncertainti govern | polici | improv electr avail paramount import |
| need | peopl compani alik urgent action | need | improv energi avail short term |
| also | improv energi avail short term | also | work address medium longerterm issu |
| also | address medium longerterm issu govern | also | make effort strengthen financi posit |
| also | particip sector infrastructur develop could | also | help besid infrastructur increas competit |
| market | improv industri relat reduc labor | market | rigid address skill mismatch remain |
| economi | reduc unemploy make differ outsid | economi | unemploy small firm bold leadership |
| need | unemploy small firm bold leadership | need | stakehold address challeng busi labor |
| also | must build anew reform would | also | foster manufactur closer integr rest |
| also | contin govern object creat job | also | would benefit smes export north |
| also | north address structur issu would | also | help strengthen south africa macroeconom |
| polici | help strengthen south africa macroeconom | polici | exampl structur impedi prevent recent |
| polici | elev extern vulner forc macroeconom | polici | play greater role reduc current |
| economi | address structur impedi would help | economi | boost growth creat job adjust |
| growth | impedi would help economi boost | growth | creat job adjust shock turn |
| economi | way improv live standard make | economi | inclus conclusioni optimist futur global |
| global | economi inclus conclusioni optimist futur | global | economi lie emerg market develop |
| economi | inclus conclusioni optimist futur global | economi | lie emerg market develop countri |
| market | futur global economi lie emerg | market | develop countri place south africa |
| countri | economi lie emerg market develop | countri | place south africa advantag posit |
| market | advantag posit bridg world emerg | market | countri respect member g much |
| countri | posit bridg world emerg market | countri | respect member g much need |
| need | countri respect member g much | need | done emerg world stage sourc |
| growth | done emerg world stage sourc | growth | prosper time great hope africa |
| market | manag capit flow lesson emerg | market | frontier economi sure agre mauritius |
| economi | flow lesson emerg market frontier | economi | sure agre mauritius long known |
| countri | whose particip span wide rang | countri | geograph also term financi develop |
| also | span wide rang countri geograph | also | term financi develop access privat |
| polici | manag long focus fund work | polici | advic inde maynard keyn harri |
| need | product capit area profit employ | need | emphasi equal recogn period failur |
| econom | failur manag flow led serious | econom | disrupt soon global financi crisi |
| global | led serious econom disrupt soon | global | financi crisi emerg market economi |
| market | soon global financi crisi emerg | market | economi experienc sizabl inflow wake |
| economi | global financi crisi emerg market | economi | experienc sizabl inflow wake quantit |
| polici | wake quantit eas unconvent monetari | polici | widen growth differenti advanc economi |
| growth | eas unconvent monetari polici widen | growth | differenti advanc economi imf embark |
| economi | polici widen growth differenti advanc | economi | imf embark work program help |
| countri | embark work program help member | countri | craft polici respons would reap |
| polici | program help member countri craft | polici | respons would reap benefit financi |
| global | respons would reap benefit financi | global | minim risk challeng larg inflow |
| market | work fund colleagu share emerg | market | member confer issu held rio |
| market | capit flow endors membership emerg | market | economi continu grappl issu current |
| economi | flow endors membership emerg market | economi | continu grappl issu current context |
| polici | current context asynchron normal monetari | polici | advanc economi sharp movement oil |
| economi | asynchron normal monetari polici advanc | economi | sharp movement oil price global |
| global | economi sharp movement oil price | global | diverg econom perform larg emerg |
| econom | movement oil price global diverg | econom | perform larg emerg market economi |
| market | diverg econom perform larg emerg | market | economi handl episod larg inflow |
| economi | econom perform larg emerg market | economi | handl episod larg inflow sharp |
| polici | success bulk credit must lie | polici | maker believ polici dialog imf |
| polici | must lie polici maker believ | polici | dialog imf contribut posit particular |
| polici | imf contribut posit particular eme | polici | maker seem whole taken heart |
| economi | disciplin respons inflow phase ensur | economi | resili outflow occur experi may |
| economi | next frontiertoday confer focus frontier | economi | simpl reason today emerg market |
| market | economi simpl reason today emerg | market | yesterday frontier economi today frontier |
| economi | today emerg market yesterday frontier | economi | today frontier economi tomorrow emerg |
| economi | yesterday frontier economi today frontier | economi | tomorrow emerg market inde despit |
| market | today frontier economi tomorrow emerg | market | inde despit global econom financi |
| global | tomorrow emerg market inde despit | global | econom financi turmoil growth frontier |
| econom | emerg market inde despit global | econom | financi turmoil growth frontier economi |
| growth | despit global econom financi turmoil | growth | frontier economi improv mark past |
| economi | econom financi turmoil growth frontier | economi | improv mark past decad african |
| economi | mark past decad african frontier | economi | exampl manag rais growth rate |
| growth | frontier economi exampl manag rais | growth | rate averag  ½ percent |
| economi | evid asian latin american frontier | economi | well financi market woken fact |
| market | american frontier economi well financi | market | woken fact see rise volum |
| also | see rise volum privat capit | also | greater divers sourc modal flow |
| economi | divers sourc modal flow frontier | economi | frontier market capit inflow predomin |
| market | modal flow frontier economi frontier | market | capit inflow predomin take form |
| market | sovereign issuanc particip local bond | market | yet other privat capit flow |
| economi | yet other privat capit flow | economi | broad includ financi corpor even |
| polici | call somewhat differ emphas appropri | polici | respons get would like recal |
| countri | benefit capit flow bring first | countri | open capit flow better abl |
| growth | advantag invest opportun achiev higher | growth | particular frontier economi larg infrastructur |
| economi | achiev higher growth particular frontier | economi | larg infrastructur need stand benefit |
| need | particular frontier economi larg infrastructur | need | stand benefit abl tap foreign |
| financ | second capit often bring mere | financ | bring cuttingedg technolog knowhow ancillari |
| countri | open promot financi develop allow | countri | better insul absorpt output shock |
| global | good financi integr lead effici | global | alloc capit benefit capitalimport capitalexport |
| countri | alloc capit benefit capitalimport capitalexport | countri | alik time need cogniz challeng |
| need | capitalimport capitalexport countri alik time | need | cogniz challeng largescal inflow bring |
| countri | cogniz challeng largescal inflow bring | countri | privat flow most public sector |
| financ | exchang earn beyond sustain public | financ | main macroeconom concern includ overvalu |
| econom | currenc may undermin competit result | econom | disloc flow reced overh economi |
| economi | econom disloc flow reced overh | economi | inflationari pressur excess credit growth |
| growth | economi inflationari pressur excess credit | growth | flow extend general privat sector |
| economi | meet challeng would tri insul | economi | foreign flow halt even revers |
| countri | benefit capit flow bring look | countri | unit state went quintessenti frontier |
| economi | unit state went quintessenti frontier | economi | nineteenth centuri advanc economi twentieth |
| economi | frontier economi nineteenth centuri advanc | economi | twentieth see critic role foreign |
| econom | role foreign save play foster | econom | develop would equal wrong ignor |
| market | often underestim keyn report quip | market | stay irrat longer remain solvent |
| countri | manag capit flow allow recipi | countri | reap benefit financi global also |
| global | recipi countri reap benefit financi | global | also minim risk associ inflow |
| also | countri reap benefit financi global | also | minim risk associ inflow surg |
| polici | surg central approach maintain macroeconom | polici | disciplin strengthen financi supervis regul |
| financ | regul privat capit flow most | financ | public sector includ larg infrastructur |
| economi | well govern abil rais revenu | economi | capac generat foreign exchang imfworld |
| economi | inform judgment capit begin flow | economi | general polici come play first |
| polici | capit begin flow economi general | polici | come play first buffer exchang |
| countri | play first buffer exchang rate | countri | without fix exchang rate allow |
| polici | appreci provid becom overvalu monetari | polici | may eas absenc overh order |
| polici | result inflationari pressur credit boom | polici | interest rate may need tighten |
| need | boom polici interest rate may | need | tighten ensur inflat target jeopard |
| polici | addit safeguard debt sustain fiscal | polici | gear maintain countercycl stanc typic |
| countri | appreci pressur especi reserv low | countri | insur metric steril cost manag |
| polici | risk undermin clariti credibl monetari | polici | framework macro prudenti measur avail |
| growth | stabil inflow fuel excess credit | growth | assum instrument deploy extent avail |
| need | beyond flow imbal nation author | need | mind possibl balanc sheet mismatch |
| also | capit flow sourc risk measur | also | seen capit flow manag measur |
| countri | capit flow fall entir recipi | countri | balanc approach involv recipi sourc |
| countri | balanc approach involv recipi sourc | countri | multilater institut imf seek promot |
| polici | integr surveil decis analyz impact | polici | end capit flow theori practiceso |
| economi | principl appli basic framework frontier | economi | practic certain critic question need |
| need | economi practic certain critic question | need | answer appropri extent pace capit |
| economi | plenti cheapli avail extent frontier | economi | face general inflow surg especi |
| polici | nonoffici sector might necessit broader | polici | respons determin whether exchang rate |
| polici | rate broad consist fundament desir | polici | effect steril intervent monetari polici |
| polici | polici effect steril intervent monetari | polici | oper economi macro prudenti tool |
| economi | steril intervent monetari polici oper | economi | macro prudenti tool avail calibr |
| polici | coordin differ agenc respons various | polici | measur central bank fiscal author |
| also | know everyth pleas notabl academ | also | highrank offici practition mani member |
| countri | highrank offici practition mani member | countri | today discuss peertop cope volatil |
| growth | privat capit flow obtain sustain | growth | econom prosper frontier emerg market |
| econom | capit flow obtain sustain growth | econom | prosper frontier emerg market advanc |
| market | growth econom prosper frontier emerg | market | advanc economi alik |
| economi | prosper frontier emerg market advanc | economi | alik |
| economi | work intens taxud taxat digit | economi | work close taxud rang topic |
| polici | see debt bias central tax | polici | issu mani countri issu need |
| countri | central tax polici issu mani | countri | issu need serious analysi action |
| need | polici issu mani countri issu | need | serious analysi action believ bring |
| financ | context today discuss imf public | financ | communiti general long recogn tax |
| financ | tax distort encourag busi household | financ | activ debt rather equiti clear |
| global | view field today confer great | global | crisi justifi increas concern tax |
| global | armori tax avoid tool increas | global | multin increas abl rearrang financi |
| countri | bill particular import public revenu | countri | high corpor incom tax rate |
| countri | incom tax rate least develop | countri | imf tax spillov paper emphas |
| also | tax plan interest alloc rule | also | one oecd base eros profit |
| economi | result high extern cost rest | economi | larg bail out place signific |
| polici | two address debt bias firm | polici | agenda mani countri perhap ought |
| countri | bias firm polici agenda mani | countri | perhap ought agenda mani belgium |
| also | forward learn experi today other | also | consid step address debt bias |
| countri | sweden recent exampl mani european | countri | year impos restrict interest deduct |
| countri | bring along lot complex mani | countri | introduc bank levi part respons |
| polici | seem excit academ promin among | polici | agenda rich full mani question |
| need | relev time increas recognit someth | need | done reduc possibl distort relev |
| econom | done reduc possibl distort relev | econom | implic stake larg potenti larg |
| financ | intern organ alik instanc g | financ | minist earlier month ask intern |
| also | septemb meet imf board director | also | ask fad extend analysi relationship |
| polici | fad extend analysi relationship tax | polici | financi stabil confer offer uniqu |
| polici | offer uniqu opportun bring togeth | polici | maker academia take stock know |
| countri | take stock know discuss recent | countri | experi actual polici reform instanc |
| polici | discuss recent countri experi actual | polici | reform instanc much look forward |
| also | corpor equiti regim itali belgium | also | learn experi restrict interest deduct |
| polici | import intellectu challeng signific implic | polici | design area econom still underdevelop |
| econom | signific implic polici design area | econom | still underdevelop mani question remain |
| economi | work thank taxud taxat digit | economi | http www imf orgexternalpplongr aspx |
| global | includ potenti impact recent develop | global | economi particip reflect share ambit |
| economi | potenti impact recent develop global | economi | particip reflect share ambit achiev |
| growth | ambit achiev sustain rapid inclus | growth | look forward hear perspect polici |
| polici | growth look forward hear perspect | polici | help acceler develop process mani |
| countri | help acceler develop process mani | countri | alreadi undertaken challeng face policymak |
| econom | mani common theme moreov asia | econom | destini increas tie region cooper |
| also | tie region cooper hope exchang | also | help strengthen tie friendship look |
| economi | much reason encourag frontier develop | economi | asia seen robust growth higher |
| growth | develop economi asia seen robust | growth | higher emerg market economi rapid |
| market | seen robust growth higher emerg | market | economi rapid growth also larg |
| economi | robust growth higher emerg market | economi | rapid growth also larg propoor |
| growth | higher emerg market economi rapid | growth | also larg propoor enabl incid |
| also | emerg market economi rapid growth | also | larg propoor enabl incid extrem |
| polici | asia exampl success typic associ | polici | emphas sound macroeconom manag strengthen |
| econom | macroeconom manag strengthen institut improv | econom | resili assur success regard model |
| economi | success regard model lowincom frontier | economi | region nonetheless import challeng remain |
| global | import challeng remain one weakerthanenvisag | global | economi even prospect differ across |
| economi | challeng remain one weakerthanenvisag global | economi | even prospect differ across countri |
| countri | economi even prospect differ across | countri | region publish updat world econom |
| econom | countri region publish updat world | econom | outlook show global economi face |
| global | updat world econom outlook show | global | economi face prospect subpar growth |
| economi | world econom outlook show global | economi | face prospect subpar growth notwithstand |
| growth | global economi face prospect subpar | growth | notwithstand boost recent drop oil |
| growth | boost recent drop oil price | growth | recov great recess remain uneven |
| global | great recess remain uneven fragil | global | growth project percent percent downgrad |
| growth | recess remain uneven fragil global | growth | project percent percent downgrad slight |
| global | earlier project year ago project | global | growth percent impli downward adjust |
| growth | project year ago project global | growth | percent impli downward adjust almost |
| growth | invest reflect reduc expect mediumterm | growth | mani advanc emerg market economi |
| market | mediumterm growth mani advanc emerg | market | economi diminish prospect china russia |
| economi | growth mani advanc emerg market | economi | diminish prospect china russia euro |
| also | weaker activ major oil export | also | concern shift sentiment volatil global |
| global | also concern shift sentiment volatil | global | financi market consequ growth project |
| market | shift sentiment volatil global financi | market | consequ growth project asia remain |
| growth | volatil global financi market consequ | growth | project asia remain higher region |
| also | even though incid halv inequ | also | increas gini coeffici rise point |
| growth | averag even though declin impact | growth | poverti expect poverti rate fall |
| countri | middl east pictur vari across | countri | interest hear particular experi trend |
| growth | incom inequ detriment macroeconom stabil | growth | call effect polici measur certain |
| polici | macroeconom stabil growth call effect | polici | measur certain driver inequ skillbias |
| polici | chang larg beyond govern reach | polici | also matter recent research shown |
| also | larg beyond govern reach polici | also | matter recent research shown fiscal |
| growth | shown fiscal redistribut help support | growth | reduc inequ reform also support |
| also | support growth reduc inequ reform | also | support equit distribut gain growth |
| growth | also support equit distribut gain | growth | exampl polici minim insideroutsid distort |
| polici | equit distribut gain growth exampl | polici | minim insideroutsid distort labor market |
| market | polici minim insideroutsid distort labor | market | institut reform strengthen govern measur |
| economi | measur promot financi inclus advanc | economi | empir evid avail direct incom |
| growth | twothird come transfer time diminish | growth | expect polici prioriti frontier develop |
| polici | transfer time diminish growth expect | polici | prioriti frontier develop asia key |
| polici | key area discuss today fiscal | polici | research show close link inclus |
| growth | research show close link inclus | growth | public spend improv infrastructur educ |
| also | safeti net prioriti spend area | also | found boost equal opportun help |
| need | inequ long run spend measur | need | financ sustain manner overal fiscal |
| financ | long run spend measur need | financ | sustain manner overal fiscal approach |
| also | fiscal approach consist macroeconom stabil | also | preserv econom effici inde experi |
| econom | consist macroeconom stabil also preserv | econom | effici inde experi host countri |
| countri | econom effici inde experi host | countri | japan provid interest insight issu |
| growth | face three interrel problem low | growth | low inflat high public debt |
| economi | compon packag offset nearterm effect | economi | promot growth inclus target cash |
| growth | offset nearterm effect economi promot | growth | inclus target cash transfer introduc |
| also | instead acrosstheboard cut benefit would | also | help fiscal consolid support effici |
| countri | oil export timorlest short term | countri | may drawdown accumul financi reserv |
| need | develop asia social infrastructur spend | need | larg averag tax revenuetogdp ratio |
| also | improv complianc tax system could | also | made progress spend side public |
| market | budget anoth import area financi | market | develop access financ financi sector |
| financ | area financi market develop access | financ | financi sector deepen financi inclus |
| need | support sme develop satisfi infrastructur | need | help address longerterm demograph challeng |
| market | lesson premium place wellmanag financi | market | liber reform underpin macroeconom stabil |
| economi | know mani frontier develop asian | economi | also high dollar case high |
| also | mani frontier develop asian economi | also | high dollar case high dollar |
| polici | long process requir commit strengthen | polici | institut let finish word role |
| growth | role imf support agenda inclus | growth | imf polici advic across globe |
| polici | support agenda inclus growth imf | polici | advic across globe especi lowincom |
| countri | advic across globe especi lowincom | countri | mind social impact econom polici |
| econom | lowincom countri mind social impact | econom | polici exampl social spend floor |
| polici | countri mind social impact econom | polici | exampl social spend floor present |
| also | facil lic imf lend instrument | also | becom bettertailor divers need member |
| need | instrument also becom bettertailor divers | need | member also step engag frontier |
| also | becom bettertailor divers need member | also | step engag frontier develop asia |
| also | myanmar region train facil singapor | also | recent reopen resid repres offic |
| growth | r mongolia research driver inclus | growth | translat practic polici advic collect |
| polici | driver inclus growth translat practic | polici | advic collect work publish book |
| market | develop asia next generat emerg | market | excerpt book includ confer packag |
| econom | kind introduct member nation assembl | econom | team warm hospit pleasur back |
| countri | river often senghor poetri seneg | countri | mani achiev democraci model africa |
| growth | stand critic turn point foundat | growth | laid growth neither vigor inclus |
| growth | turn point foundat growth laid | growth | neither vigor inclus enough unlock |
| economi | yet feasibl path toward emerg | economi | status acceler broaden reform requir |
| countri | leader member civil societi african | countri | part world confer also underscor |
| also | african countri part world confer | also | underscor valu peertop learn way |
| countri | way go prescript practic membership | countri | fund treasur trove cross countri |
| countri | countri fund treasur trove cross | countri | experi offer uniqu platform knowledg |
| countri | new narrat africa one mani | countri | march forward expand steadili ten |
| global | ten year take right place | global | economi confer also captur essenc |
| economi | year take right place global | economi | confer also captur essenc challeng |
| also | right place global economi confer | also | captur essenc challeng confront subsaharan |
| need | acceler structur transform build bad | need | infrastructur make growth inclus view |
| growth | build bad need infrastructur make | growth | inclus view prioriti reson well |
| growth | delay implement reform result averag | growth | percent annual short vibranc need |
| need | growth percent annual short vibranc | need | encourag privat sector creat job |
| polici | incom status requir shift toward | polici | inject greater dynam economi open |
| economi | toward polici inject greater dynam | economi | open space small medium enterpris |
| global | invest object becom challeng uncertain | global | environ accord latest forecast global |
| global | global environ accord latest forecast | global | econom activ year weaker project |
| econom | environ accord latest forecast global | econom | activ year weaker project month |
| economi | momentum slow mani advanc emerg | economi | includ china one africa main |
| economi | affect africa well addit world | economi | face number headwind first asynchron |
| polici | number headwind first asynchron monetari | polici | advanc economi monetari normal unit |
| economi | first asynchron monetari polici advanc | economi | monetari normal unit state eas |
| market | communic could negat effect emerg | market | global financi stabil african economi |
| global | could negat effect emerg market | global | financi stabil african economi could |
| economi | market global financi stabil african | economi | could also affect second headwind |
| also | financi stabil african economi could | also | affect second headwind persist lower |
| global | mali outlook implic africa integr | global | economi growth forecast subsaharan africa |
| economi | outlook implic africa integr global | economi | growth forecast subsaharan africa also |
| growth | implic africa integr global economi | growth | forecast subsaharan africa also revis |
| also | economi growth forecast subsaharan africa | also | revis due lower oil commod |
| growth | expect post world second highest | growth | rate emerg asia ampl opportun |
| economi | asia ampl opportun seneg reinvigor | economi | help place region path inclus |
| growth | help place region path inclus | growth | poverti reduct time end chronic |
| economi | time end chronic underperform senegales | economi | last thirti year averag growth |
| growth | economi last thirti year averag | growth | hover around percent time seneg |
| economi | asian tiger fast grow african | economi | time red lion roar growth |
| growth | economi time red lion roar | growth | acceler achiev build success peer |
| countri | seneg bring second topic lesson | countri | manag sustain growth takeoff offer |
| growth | topic lesson countri manag sustain | growth | takeoff offer seneg overal wisdom |
| growth | seneg overal wisdom intern experi | growth | takeoff offer two main conclus |
| economi | conclus first ambit rise emerg | economi | status within next two decad |
| countri | involv difficult doabl second point | countri | success reform time countri stori |
| countri | point countri success reform time | countri | stori tell success certain reform |
| also | success howev pitfal road may | also | substanti seneg stumbl past minist |
| countri | fail implement today seneg learn | countri | experi press ahead move plan |
| countri | fiscal manag macroeconom stabil success | countri | right saw increas least percent |
| growth | increas least percent per capita | growth | rate think countri like india |
| countri | per capita growth rate think | countri | like india guyana sri lanka |
| also | like india guyana sri lanka | also | african lion cape verd mauritius |
| countri | cape verd mauritius uganda begin | countri | improv public spend particular public |
| econom | general led higher debt subpar | econom | outcom second lesson focus export |
| growth | open foreign direct invest episod | growth | success countri dramat increas export |
| countri | direct invest episod growth success | countri | dramat increas export expans driven |
| growth | effort improv busi climat facilit | growth | small mediums enterpris global competit |
| global | facilit growth small mediums enterpris | global | competit final focus build institut |
| growth | build institut human capit ambiti | growth | rate goal also support increas |
| also | capit ambiti growth rate goal | also | support increas wellb popul popul |
| need | reform effort seneg build futur | need | big push reformsso collect wisdom |
| need | own strong develop program consensus | need | reform among polit stakehold intern |
| financ | alreadi pledg us billion help | financ | perhap import heed everybodi mind |
| need | perhap import heed everybodi mind | need | critic mass reform big push |
| growth | push decis break past acceler | growth | time run short peopl aspir |
| polici | draw intern experi see three | polici | dimens key big push agenda |
| economi | push agenda inject dynam senegales | economi | first strengthen public financi manag |
| need | space public infrastructur social spend | need | yet simpli accumul debt way |
| countri | level record mani lower middleincom | countri | subsaharan africa broaden scope regulatori |
| need | reform start help attract much | need | foreign invest polici also focus |
| polici | attract much need foreign invest | polici | also focus support small medium |
| also | much need foreign invest polici | also | focus support small medium enterpris |
| growth | youth around world final make | growth | inclus unlock high growth suffici |
| growth | make growth inclus unlock high | growth | suffici proactiv social polici requir |
| polici | high growth suffici proactiv social | polici | requir build human capit ensur |
| growth | requir build human capit ensur | growth | inclus creat opportun grow young |
| countri | equal realiti seneg rank th | countri | world econom forum gender gap |
| econom | seneg rank th countri world | econom | forum gender gap rank far |
| econom | limit access justic decisionmak power | econom | empower secur challeng must overcom |
| polici | secur challeng must overcom deliber | polici | also chang attitud increas research |
| also | challeng must overcom deliber polici | also | chang attitud increas research show |
| econom | particip women labor forc good | econom | growth conclusionlet conclud seneg inde |
| growth | women labor forc good econom | growth | conclusionlet conclud seneg inde turn |
| growth | togeth toward inclus jobrich sustain | growth | strategi right time empow youth |
| polici | servic proud continu help regular | polici | advic peerlearn new program engag |
| economi | africa rise seneg rise emerg | economi | status would import mileston direct |
| countri | seneg claim brighter inclus futur | countri | destin jereujef merci seneg nation |
| countri | board yesterday signific enhanc support | countri | africa hit ebola well low |
| countri | hit ebola well low incom | countri | may affect public health disast |
| countri | pcdr trust origin set assist | countri | hit natur disast like earthquak |
| countri | approach imf would take support | countri | west africa stricken ebola epidem |
| countri | purpos effort support low incom | countri | face public health crisi order |
| countri | multilater institut provid relief three | countri | third m call offici bilater |
| countri | debt relief three ebola affect | countri | regard alreadi resourc fund imf |
| countri | fund imf debt relief three | countri | former pcdr trust addit focus |
| countri | resourc avail futur end reach | countri | provid fund mdriii financ hipc |
| financ | reach countri provid fund mdriii | financ | hipc effort urg approv repurpos |
| need | bilater support ccr meet futur | need | pleas report inform receiv indic |
| countri | bilater commit ccr one donor | countri | hope commit import catalyst help |
| countri | peopl guinea liberia sierra leon | countri | futur initi clear indic flexibl |
| need | commit imf health system human | need | vulner member countri thank happi |
| countri | system human need vulner member | countri | thank happi take question |
| countri | special privileg rwanda speak parliament | countri | boast immens wealth natur peopl |
| countri | inevit ting sad firsttim visitor | countri | morn sober experi visit genocid |
| economi | extraordinari advers build resili inclus | economi | parliament case point percent women |
| countri | world highest doubl averag parliament | countri | proud stand build achiev rwanda |
| countri | anoth transit becom middl incom | countri | countri selfreli export orient vibrant |
| countri | transit becom middl incom countri | countri | selfreli export orient vibrant privat |
| need | privat sector achiev vision rwanda | need | continu lead exampl keep strong |
| polici | exampl keep strong focus inclus | polici | presid kagam said rwandan know |
| global | take rwanda success within region | global | context ii second umuganura harvest |
| economi | manag transit stronger diversifi inclus | economi | road mozambiqu good news headwind |
| countri | busi execut civil societi african | countri | mani part world minist gatet |
| countri | narrat africa slowli sure assert | countri | subsaharan africa show extraordinari resili |
| global | recess fact mani buck recent | global | trend slow growth expand healthi |
| growth | buck recent global trend slow | growth | expand healthi clip ten year |
| polici | healthi clip ten year sound | polici | stronger institut educ popul posit |
| economi | major invest destin advanc emerg | economi | grow number countri inde see |
| countri | advanc emerg economi grow number | countri | inde see africa rise countri |
| countri | countri inde see africa rise | countri | epitom narrat sinc earli rwanda |
| growth | percent popul poorest share benefit | growth | remark feat genuin intor stori |
| countri | import challeng remain region mani | countri | need make growth inclus invest |
| need | challeng remain region mani countri | need | make growth inclus invest human |
| growth | region mani countri need make | growth | inclus invest human capit equip |
| global | capit equip futur generat join | global | economi africa also face huge |
| economi | equip futur generat join global | economi | africa also face huge infrastructur |
| also | generat join global economi africa | also | face huge infrastructur gap must |
| financ | face huge infrastructur gap must | financ | sustain manner let us forget |
| countri | sustain manner let us forget | countri | still grappl fragil fail har |
| global | challeng surmount becom daunt uncertain | global | environ said mozambiqu africa rise |
| global | call vigil accord latest forecast | global | econom activ year weaker project |
| econom | vigil accord latest forecast global | econom | activ year weaker project month |
| economi | momentum slow mani advanc emerg | economi | includ china one africa main |
| growth | africa main trade partner slower | growth | implic africa integr global economi |
| global | slower growth implic africa integr | global | economi ever growth forecast subsaharan |
| economi | growth implic africa integr global | economi | ever growth forecast subsaharan africa |
| growth | africa integr global economi ever | growth | forecast subsaharan africa pare due |
| growth | expect post world second highest | growth | rate even number downsid risk |
| polici | scenario talk time immin monetari | polici | normal unit state even process |
| market | believ could negat effect emerg | market | global financi stabil african economi |
| global | could negat effect emerg market | global | financi stabil african economi could |
| economi | market global financi stabil african | economi | could also impact cours compound |
| also | financi stabil african economi could | also | impact cours compound risk persist |
| growth | even africa bottom line sustain | growth | first order prioriti reignit defici |
| polici | reignit defici support wane sound | polici | fundament paramount although polici specif |
| polici | sound polici fundament paramount although | polici | specif differ countri current situat |
| countri | paramount although polici specif differ | countri | current situat portend rwanda countri |
| countri | countri current situat portend rwanda | countri | today take futur strong foundat |
| countri | past two decad posit exampl | countri | strive exit fragil offer valuabl |
| economi | start stand rwanda today dynam | economi | good govern standard second generat |
| growth | second generat reform help sustain | growth | even acceler beyond rebound came |
| econom | empow offer practic case gender | econom | rwanda econom success stori accident |
| econom | practic case gender econom rwanda | econom | success stori accident upshot strong |
| polici | stori accident upshot strong concert | polici | deliber focus inclus prudent fiscal |
| polici | focus inclus prudent fiscal monetari | polici | instrument maintain macroeconom stabil necessari |
| growth | maintain macroeconom stabil necessari precondit | growth | suffici inclus growth clear focus |
| growth | necessari precondit growth suffici inclus | growth | clear focus inclus polici institut |
| polici | inclus growth clear focus inclus | polici | institut essenti let highlight two |
| polici | two aspect let start fiscal | polici | play role fiscal space debt |
| econom | remain percent gdp effect use | econom | develop poverti reduct sound econom |
| econom | econom develop poverti reduct sound | econom | manag key still perhap struck |
| growth | unrel focus homegrown intervent make | growth | inclus improv social servic especi |
| economi | tell probabl know status women | economi | societi topic dear heart rwanda |
| econom | ensur gender equal mainstream social | econom | aspect constitut enshrin women represent |
| economi | unleash women full potenti contribut | economi | think complet farmer approach anoth |
| also | ensur tide prosper lift boat | also | impress relianc rwandan tradit exalt |
| polici | success harvest longstand strong inclus | polici | futur translat rwanda current achiev |
| polici | curvethi bring last topic key | polici | accomplish rwanda vision futur without |
| growth | achiev goal middl incom status | growth | model need evolv think evolut |
| need | middl incom status growth model | need | evolv think evolut ikinimba danc |
| growth | brighter futur key dimens futur | growth | model see threeprong approach focus |
| polici | evolut let highlight see key | polici | along three dimens fund help |
| countri | strengthen legal right borrow lender | countri | rwanda top three subsaharan perform |
| need | infrastructur project transport water energi | need | come stream unlock full potenti |
| need | stream unlock full potenti cours | need | done within reason resourc envelop |
| financ | engag govern explor optim combin | financ | sourc increas revenu judici resort |
| financ | revenu judici resort extern borrow | financ | critic infrastructur project equal import |
| countri | dividend demograph transit rwanda lead | countri | aspect move beyond focus primari |
| need | dimens increas export diversif rwanda | need | open reach neighbor exportori busi |
| financ | size busi target mentor access | financ | step right direct hand export |
| market | export diversif hing success access | market | landlock economi rwanda region integr |
| economi | hing success access market landlock | economi | rwanda region integr potent instrument |
| market | integr potent instrument tap bigger | market | new product deeper engag east |
| growth | step sure critic unlock rwanda | growth | potenti conclusionlet conclud reform talk |
| countri | deliveri broader public rest assur | countri | travel alon fund proud rwanda |
| polici | overcom challeng fragil institut build | polici | support program technic assist cement |
| global | relat opportun speak today outlook | global | economi new year council imf |
| economi | opportun speak today outlook global | economi | new year council imf much |
| global | council imf much common take | global | perspect found global conflict world |
| global | common take global perspect found | global | conflict world war world war |
| need | team good teamwork strong leadership | need | year latest updat world econom |
| econom | need year latest updat world | econom | outlook specif number formal present |
| growth | boost cheaper oil stronger u | growth | see global recoveri continu face |
| global | oil stronger u growth see | global | recoveri continu face strong headwind |
| global | hieroglyph stori relev right year | global | economi face might call three |
| economi | stori relev right year global | economi | face might call three rosetta |
| polici | call three rosetta moment major | polici | challeng requir decis base polit |
| global | action multilater think short true | global | leadership first rosetta moment boost |
| growth | leadership first rosetta moment boost | growth | employ next month overcom strong |
| growth | rosetta moment achiev inclus share | growth | third attain sustain balanc growth |
| growth | growth third attain sustain balanc | growth | three moment cours deepli interconnect |
| polici | sure catch comet space address | polici | challeng earth global outlook risk |
| global | space address polici challeng earth | global | outlook risk polici action inject |
| polici | challeng earth global outlook risk | polici | action inject new momentumi start |
| polici | updat forecast focus main trend | polici | recommend obvious question lower oil |
| global | state make us upbeat prospect | global | economi answer like sinc still |
| economi | make us upbeat prospect global | economi | answer like sinc still power |
| global | oil price welcom shot arm | global | economi cheaper oil increas consum |
| economi | price welcom shot arm global | economi | cheaper oil increas consum purchas |
| countri | purchas power privat demand oilimport | countri | depend long oil price remain |
| global | level could provid posit contribut | global | growth time u economi perform |
| growth | could provid posit contribut global | growth | time u economi perform well |
| economi | contribut global growth time u | economi | perform well strengthen year larg |
| polici | sentiment continu support accommod monetari | polici | catch oil price u growth |
| growth | polici catch oil price u | growth | cure deepseat weak elsewher mani |
| countri | cure deepseat weak elsewher mani | countri | still weigh legaci financi crisi |
| growth | invest consumpt today concern low | growth | futur fact unit state major |
| economi | futur fact unit state major | economi | like buck trend year other |
| growth | invest promis recoveri continu uk | growth | remain low euro area japan |
| economi | low euro area japan emerg | economi | led china slow relat speak |
| global | slow relat speak risksoveral believ | global | growth still low brittl lopsid |
| growth | relat speak risksoveral believ global | growth | still low brittl lopsid moreov |
| need | risk recoveri point one thing | need | power polici mix strengthen recoveri |
| polici | point one thing need power | polici | mix strengthen recoveri provid better |
| polici | worldwid policymak deliv rosetta moment | polici | actionbroad speak accommod monetari polici |
| polici | polici actionbroad speak accommod monetari | polici | remain essenti fiscal adjust must |
| growth | remain essenti fiscal adjust must | growth | jobfriend possibl policymak need final |
| need | must growth jobfriend possibl policymak | need | final step structur reform econom |
| econom | need final step structur reform | econom | mantra support demand growth structur |
| growth | reform econom mantra support demand | growth | structur reform new take increas |
| polici | price prove immedi test mani | polici | maker much oil import windfal |
| need | allevi inflat pressur oil export | need | cushion shock economi use raini |
| economi | oil export need cushion shock | economi | use raini day fund fiscal |
| polici | inflat may requir tighter monetari | polici | euro area cheaper oil contribut |
| need | bank indic stand readi support | need | import howev drop oil price |
| countri | success decreas fossil fuel subsidi | countri | cameroon cà ´ te d |
| countri | haiti india indonesia malaysia advanc | countri | policymak also seiz moment increas |
| also | indonesia malaysia advanc countri policymak | also | seiz moment increas energi tax |
| growth | rosetta moment achiev inclus share | growth | medium term structur reform infrastructur |
| countri | peopl still feel recoveri mani | countri | unemploy remain high inequ increas |
| need | unemploy remain high inequ increas | need | decis push structur reform boost |
| growth | structur reform boost current potenti | growth | medium term must year action |
| market | remov deepseat distort labor product | market | mean revamp creak infrastructur build |
| also | educ health social safeti net | also | mean unleash econom power women |
| econom | safeti net also mean unleash | econom | power women would like expand |
| economi | boost demand long term rais | economi | product capac inde lift qualiti |
| growth | infrastructur invest major part g | growth | agenda estim add us trillion |
| global | agenda estim add us trillion | global | economi next four year scope |
| economi | estim add us trillion global | economi | next four year scope invest |
| countri | year scope invest vari across | countri | depend fiscal space infrastructur gap |
| need | gap india brazil exampl would | need | focus remov bottleneck transport energi |
| growth | remov bottleneck transport energi constrain | growth | u germani fix exist infrastructur |
| need | exist infrastructur decad underinvest whatev | need | time show determin exampl follow |
| growth | invest plan hold promis stronger | growth | job creation gender policiesanoth potenti |
| econom | policiesanoth potenti game changer unleash | econom | power million women current lock |
| market | million women current lock labor | market | exclud women moral wrong bad |
| econom | exclud women moral wrong bad | econom | gender gap labor forc particip |
| economi | exist world rang percent oecd | economi | percent middl east north africa |
| countri | percent middl east north africa | countri | like chile netherland exampl shown |
| polici | femal labor forc particip smart | polici | emphas afford childcar matern leav |
| growth | flexibl one key goal g | growth | strategi close gender gap per |
| global | women labor forc thus increas | global | growth reduc poverti inequ trade |
| growth | labor forc thus increas global | growth | reduc poverti inequ trade reformth |
| growth | provid right answer year slow | growth | global trade could makeorbreak year |
| global | right answer year slow growth | global | trade could makeorbreak year negoti |
| also | deal transpacif partnership tpp policymak | also | need press ahead negoti transatlant |
| need | transpacif partnership tpp policymak also | need | press ahead negoti transatlant deal |
| growth | trade would immens help lift | growth | confid japanes govern keen use |
| economi | tpp inject greater competit lowgrowth | economi | emerg develop economi would benefit |
| economi | competit lowgrowth economi emerg develop | economi | would benefit better integr global |
| global | economi would benefit better integr | global | economi like side incent cut |
| economi | would benefit better integr global | economi | like side incent cut deal |
| need | side incent cut deal polit | need | get finish line arriv rd |
| growth | rosetta moment achiev sustain balanc | growth | long term financi regul intern |
| polici | financi regul intern develop environment | polici | key financi regul intern develop |
| econom | lesson great recess cannot sustain | econom | growth without sustain financi sector |
| growth | great recess cannot sustain econom | growth | without sustain financi sector must |
| global | extent address tooimportanttofail financi institut | global | bank system less leverag therefor |
| financ | bank yet transform resili sourc | financ | economi big challeng implement reform |
| economi | yet transform resili sourc financ | economi | big challeng implement reform improv |
| market | supervis exampl two import financi | market | unit state european union diverg |
| need | implement basel iii framework differ | need | care monitor also need make |
| also | framework differ need care monitor | also | need make progress set rule |
| need | differ need care monitor also | need | make progress set rule complex |
| need | held year fulli restor trust | need | allout effort promot enforc ethic |
| growth | climat changeanoth exampl engend sustain | growth | intern develop later year septemb |
| countri | imf play signific role help | countri | meet new develop goal build |
| countri | goal build longstand work develop | countri | also makeorbreak effort strike intern |
| also | build longstand work develop countri | also | makeorbreak effort strike intern agreement |
| global | agreement climat chang collis cours | global | economi averag temperatur rise warmest |
| economi | climat chang collis cours global | economi | averag temperatur rise warmest year |
| need | natur disast food water insecur | need | greater polit courag reach comprehens |
| global | backer rosetta mission true testament | global | cooper policymak take inspir secret |
| growth | policymak take inspir secret engend | growth | deliv three rosetta moment need |
| need | growth deliv three rosetta moment | need | enhanc global cooper need embrac |
| global | three rosetta moment need enhanc | global | cooper need embrac call new |
| need | moment need enhanc global cooper | need | embrac call new multilater year |
| also | year put practic new multilater | also | requir institut effici credibl repres |
| global | institut effici credibl repres chang | global | economi intern communiti agre reform |
| economi | effici credibl repres chang global | economi | intern communiti agre reform imf |
| market | reform imf increas represent emerg | market | countri quota govern reform would |
| countri | imf increas represent emerg market | countri | quota govern reform would also |
| also | countri quota govern reform would | also | help sustain fund financi firepow |
| countri | far fail grasp benefit reform | countri | world larg seen better unit |
| countri | interim solut address concern member | countri | let clear given challeng follow |
| global | call greater leadership cooper servic | global | public good attribut pericl athenian |
| economi | two confer hous issu advanc | economi | confer move closer scene much |
| market | much action present name emerg | market | economi cover three area remark |
| economi | action present name emerg market | economi | cover three area remark delv |
| global | let get detail start updat | global | hous market state global hous |
| market | detail start updat global hous | market | state global hous market twospe |
| global | updat global hous market state | global | hous market twospe recoveri imf |
| market | hous market state global hous | market | twospe recoveri imf global hous |
| global | hous market twospe recoveri imf | global | hous price index averag hous |
| countri | price index averag hous price | countri | show modest uptick past year |
| global | modest uptick past year imf | global | hous watch surfac thing look |
| countri | hous price indic two group | countri | economi recov group experienc sharp |
| economi | price indic two group countri | economi | recov group experienc sharp boom |
| global | experienc sharp boom hous price | global | financi crisi sharp fall crisi |
| economi | fall crisi anem recoveri sinc | economi | rebound group contrast shorter bust |
| also | round hous price boom chart | also | show two speed recoveri hous |
| econom | short histor twin boom endang | econom | growth financi stabil histori alway |
| growth | histor twin boom endang econom | growth | financi stabil histori alway repeat |
| polici | sorri prepar question prepar lead | polici | framework manag hous price boom |
| polici | manag hous price boom b | polici | framework triniti experi global financi |
| global | b polici framework triniti experi | global | financi crisi expos gap financi |
| polici | crisi expos gap financi stabil | polici | chair us feder reserv janet |
| polici | janet yellen recent acknowledg monetari | polici | face signific limit tool promot |
| polici | overcom limit employ broader set | polici | help reduc likelihood sever financi |
| polici | suggest clever way rememb set | polici | call mip map mop refer |
| polici | mip map mop refer microprudenti | polici | macroprudenti polici monetari polici respect |
| polici | mop refer microprudenti polici macroprudenti | polici | monetari polici respect polici triniti |
| polici | microprudenti polici macroprudenti polici monetari | polici | respect polici triniti polici job |
| polici | macroprudenti polici monetari polici respect | polici | triniti polici job well also |
| polici | monetari polici respect polici triniti | polici | job well also complement other |
| also | polici triniti polici job well | also | complement other easi task difficult |
| polici | difficult tradeoff map interact mani | polici | lead complementar difficult tradeoff figur |
| polici | fiscal structur competit crisi manag | polici | hous price boom could also |
| also | polici hous price boom could | also | driven suppli constraint tight land |
| polici | dampen creditfuel hous boom issu | polici | tradeoff particular true interact macroprudenti |
| polici | particular true interact macroprudenti monetari | polici | one illustr point look countri |
| countri | polici one illustr point look | countri | moment use scatter diagram econom |
| econom | countri moment use scatter diagram | econom | gap financi gap figur show |
| countri | financi gap figur show whether | countri | econom slack low negat output |
| econom | gap figur show whether countri | econom | slack low negat output gap |
| also | output gap inflat lower target | also | weak financi cycl creditgdp ratio |
| countri | involv survey imf found major | countri | multipl agenc share macroprudenti mandat |
| polici | central role imf research show | polici | respons time shorter central bank |
| polici | central bank coordin well interact | polici | mop mip point benefit assign |
| polici | supervis work hand glove macroprudenti | polici | inde countercycl capit buffer basel |
| need | capit buffer basel iii guid | need | macroprudenti perspect financi regul financi |
| polici | aris especi bad time macroprudenti | polici | need relax microprudenti polici requir |
| need | especi bad time macroprudenti polici | need | relax microprudenti polici requir tighten |
| polici | macroprudenti polici need relax microprudenti | polici | requir tighten capit liquid requir |
| polici | tension let turn discuss macroprudenti | polici | central role mip map mop |
| polici | central role mip map mop | polici | triniti c macroprudenti polici enhanc |
| polici | mop polici triniti c macroprudenti | polici | enhanc effect three aspect role |
| polici | effect three aspect role macroprudenti | polici | go cover today polici tool |
| polici | macroprudenti polici go cover today | polici | tool employ need select advanc |
| need | cover today polici tool employ | need | select advanc figur show rang |
| countri | financi institut make hold buffer | countri | alreadi activ use tool especi |
| economi | activ use tool especi emerg | economi | figur topmost chart show use |
| countri | tool across region mani asian | countri | go twin boom real estat |
| market | twin boom real estat credit | market | tighten macroprudenti tool mitig risk |
| countri | mitig risk chart middl show | countri | activ user popular tool hous |
| countri | malaysia poland romania dug deep | countri | experi jà ¡ come mitra |
| growth | apart fast credit asset price | growth | especi send alert signal author |
| growth | exampl brazil romania face rapid | growth | secur loan paid close attent |
| polici | repaid translat inform inform tighter | polici | loan certain characterist want emphas |
| need | emphas order understand much tighten | need | go granular evid accumul effect |
| polici | granular evid accumul effect macroprudenti | polici | let take case popular measur |
| countri | crosscountri panel macrolevel timeseri data | countri | level show effect averag curb |
| growth | show effect averag curb credit | growth | hous price growth also start |
| growth | curb credit growth hous price | growth | also start drill countri specif |
| also | credit growth hous price growth | also | start drill countri specif case |
| countri | price growth also start drill | countri | specif case hold magnifi glass |
| countri | give us nuanc pictur six | countri | mention earlier measur help lower |
| growth | earlier measur help lower credit | growth | improv loanservic perform lower hous |
| growth | loanservic perform lower hous price | growth | measur less effect foreign bank |
| polici | target specul properti area korea | polici | leakag regulatori arbitrag inevit countri |
| countri | polici leakag regulatori arbitrag inevit | countri | experi provid guidanc type circumvent |
| financ | korea nonbank institut like leas | financ | compani step relax ltvs subsequ |
| countri | foreign supervisor ahead time mani | countri | also complement one form macroprudenti |
| also | supervisor ahead time mani countri | also | complement one form macroprudenti measur |
| polici | form macroprudenti measur tighten ltv | polici | exampl korea increas risk weight |
| market | incom tax tame overh hous | market | poland rais minimum risk weight |
| countri | weight foreign currenc mortgag loan | countri | experi general suggest use multipl |
| polici | singl tool allow adjust overal | polici | respons rang risk profil reduc |
| need | profil reduc potenti circumvent conclus | need | recogn hous bust hard predict |
| polici | could still happen despit effort | polici | front occas draw lesson experi |
| countri | draw lesson experi euro area | countri | done recent imf cluster report |
| economi | recoveri mitig effect hous bust | economi | requir multiprong strategi support macroeconom |
| polici | requir multiprong strategi support macroeconom | polici | reform insolv procedur enabl effici |
| market | eas liquid constraint increas rental | market | flexibl dividend restrict enabl bank |
| market | absorb loss mani em hous | market | cool eas macroprudenti polici may |
| polici | hous market cool eas macroprudenti | polici | may warrant especi buffer built |
| global | summar take cue imf latest | global | financi stabil report strategi use |
| polici | stabil report strategi use macroprudenti | polici | prepar monitor act biggest challeng |
| polici | willing act think tradeoff involv | polici | polici goal make creativ use |
| polici | act think tradeoff involv polici | polici | goal make creativ use micro |
| polici | indic good signal properti gather | polici | instrument sens legal chang made |
| econom | financi cycl interact journal intern | econom | crow c g dell ariccia |
| polici | igan p raban h tong | polici | macroprudenti stabil option deal real |
| global | staff discuss note februari imf | global | hous watch quarter updat http |
| polici | pdf imf key aspect macroprudenti | polici | imf polici paper jà ¡ |
| polici | key aspect macroprudenti polici imf | polici | paper jà ¡ come l |
| countri | ltv dsti ratio lesson six | countri | experi imf work paper lim |
| polici | otani x wu macroprudenti framework | polici | respons institut arrang imf work |
| polici | e nier c walker monetari | polici | financi stabil imf mimeo yellen |
| polici | imf mimeo yellen j monetari | polici | financi stabil inaugur michel camdessus |
| polici | e zoli lean wind macroprudenti | polici | asia imf work paper |
| global | intellectu excel bocconi truli embrac | global | view curricula cultur valu spirit |
| also | dna hope agre much alik | also | pleasur back milano alway remind |
| economi | much today think favorit subject | economi | let us think littl bigger |
| growth | talk grey cloud entrench low | growth | high unemploy especi among young |
| market | mani young adult face labor | market | get chanc appli educ mind |
| need | bear sooner later cross societi | need | bear persist unemploy undermin econom |
| econom | need bear persist unemploy undermin | econom | activ undermin peopl selfesteem tear |
| polici | nation level tackl iii final | polici | euro area level complement reinforc |
| polici | area level complement reinforc nation | polici | support growth combat youth unemploy |
| growth | complement reinforc nation polici support | growth | combat youth unemploy youth unemploy |
| countri | search solut look issu itali | countri | europ well two key messag |
| growth | two key messag paper first | growth | low youth unemploy high averag |
| countri | high averag across advanc european | countri | impact weak growth youth three |
| growth | advanc european countri impact weak | growth | youth three time larger adult |
| countri | percent increas youth unemploy vulner | countri | crisi trace back feebl growth |
| growth | countri crisi trace back feebl | growth | implic reviv growth first order |
| growth | back feebl growth implic reviv | growth | first order prioriti research show |
| growth | one addit percentag point gdp | growth | itali lower youth unemploy rate |
| countri | forward second institut matter mani | countri | includ itali youth unemploy alreadi |
| global | youth unemploy alreadi quit high | global | crisi struck crisi simpli made |
| market | made situat wors certain labor | market | characterist high level protect worker |
| countri | hire cost conspir youth employ | countri | itali make youth unemploy even |
| growth | make youth unemploy even sensit | growth | let put two find perspect |
| growth | per year problem current forecast | growth | far weaker percent annual next |
| growth | sign resourc remain underutil low | growth | low inflat toxic mix creat |
| growth | creat vicious circl expect low | growth | futur invest less hire less |
| need | lay dark color canva asid | need | think bold color act action |
| need | think bold color act action | need | structur reform institut chang could |
| growth | chang could unleash itali product | growth | father third dimens provid perspect |
| market | dimens well first dimens labor | market | reform italian labor market today |
| market | labor market reform italian labor | market | today suffer call dualiti other |
| also | contract receiv littl train unfair | also | ineffici compani littl incent invest |
| market | import tackl pervas dualiti make | market | work better worker firm anoth |
| market | element job act activ labor | market | polici includ help unemploy receiv |
| polici | job act activ labor market | polici | includ help unemploy receiv train |
| need | receiv train job search assist | need | austria finland sweden show polici |
| polici | need austria finland sweden show | polici | work sweden exampl incent young |
| need | job match support apprenticeship train | need | even job act would need |
| need | need even job act would | need | complement measur lower margin tax |
| market | peopl go back work new | market | open market also power catalyst |
| market | back work new market open | market | also power catalyst job creation |
| also | work new market open market | also | power catalyst job creation exampl |
| need | facilit movement worker across sector | need | think back da vinci chang |
| market | musician mathematician flexibl open labor | market | essenti da vinci entrepreneuri innov |
| market | rejuven itali st centuri labor | market | reform first dimens second dimens |
| econom | puglia sicilia region face challeng | econom | situat greater judici effici would |
| countri | effici account embed approach throughout | countri | could promis next step third |
| need | third dimens bank sector reform | need | make stronger support recoveri especi |
| need | outlin magnitud problem potenti remedi | need | done need insolv regim help |
| need | problem potenti remedi need done | need | insolv regim help busi household |
| need | sheet true bank writeoff rate | need | step signific bring bad debt |
| economi | sector crucial facilit flow credit | economi | smes backbon italian economi account |
| economi | credit economi smes backbon italian | economi | account percent privat sector workforc |
| growth | sme sector would power impetus | growth | job creation take togeth labor |
| market | job creation take togeth labor | market | reform judici reform bank sector |
| need | reform bank sector reform dimens | need | keep field vision paint canva |
| growth | paint canva strong inclus jobrich | growth | itali euro area polici support |
| polici | jobrich growth itali euro area | polici | support recoverywhat europ itali alway |
| polici | fire cylind let start monetari | polici | forefront policymak landscap need continu |
| need | monetari polici forefront policymak landscap | need | continu play crucial role support |
| growth | risk persist low inflat even | growth | inflat outlook soften ecb indic |
| polici | purchas sovereign asset welcom monetari | polici | alon enough fiscal polici also |
| polici | monetari polici alon enough fiscal | polici | also key role play andfisc |
| also | polici alon enough fiscal polici | also | key role play andfisc measur |
| growth | role play andfisc measur must | growth | jobfriend possibl think costeffect effici |
| growth | could help lay foundat sustain | growth | think crossbord invest transport communic |
| growth | key ingredi support innov product | growth | last import flexibl within rule |
| growth | import flexibl within rule stabil | growth | pact support public invest implement |
| countri | reform may vari depend specif | countri | includ streamlin regulatori burden open |
| market | regulatori burden open product servic | market | energi deepen capit market flexibl |
| market | servic market energi deepen capit | market | flexibl explor encourag product outlay |
| growth | encourag product outlay measur foster | growth | job creation conclusioni know today |
| need | neither code spell right left | need | mirror deciph cynic may say |
| polici | outlay unduli high cynic recip | polici | paralysi econom inertia past could |
| econom | high cynic recip polici paralysi | econom | inertia past could well prologu |
| need | work one potenti bring chang | need | itali often demonstr resili face |
| financ | anniversari confer talk fad public | financ | st centuri talk organ three |
| financ | argu clear today confer public | financ | top polici agenda third conclud |
| polici | today confer public financ top | polici | agenda third conclud claim fad |
| financ | stream stay center excel public | financ | play lead role shape polici |
| polici | financ play lead role shape | polici | agenda capac build structur fiscal |
| polici | remind us chang emphasi fiscal | polici | time also remind us mani |
| also | chang emphasi fiscal polici time | also | remind us mani fiscal issu |
| polici | substitut war fund incept fiscal | polici | matter intern cooper instead regard |
| polici | instead regard centerpiec nation macroeconom | polici | make imf membership expand newli |
| countri | newli independ state africa asia | countri | call assist establish fiscal institut |
| countri | assist capac build imf member | countri | lie root fad dna sinc |
| polici | around world expand work tax | polici | issu area public financ strengthen |
| financ | tax polici issu area public | financ | strengthen research activ exampl impact |
| countri | known tanzi effect provid support | countri | seek financi stabil follow crisi |
| countri | seek financi stabil follow crisi | countri | need structur reform also increas |
| need | financi stabil follow crisi countri | need | structur reform also increas focus |
| also | crisi countri need structur reform | also | increas focus fiscal sustain crisi |
| financ | crisi prevent go forward public | financ | top polici agenda polici maker |
| polici | go forward public financ top | polici | agenda polici maker need deal |
| polici | public financ top polici agenda | polici | maker need deal legaci financi |
| need | top polici agenda polici maker | need | deal legaci financi crisi also |
| also | need deal legaci financi crisi | also | need deal new evolutionari dynam |
| need | deal legaci financi crisi also | need | deal new evolutionari dynam transform |
| financ | new evolutionari dynam transform public | financ | give coupl exampl could give |
| market | debt gdp ratio advanc emerg | market | see wwi rais debt signific |
| economi | rais debt signific sever advanc | economi | debt u k climb percent |
| countri | war real interest rate mani | countri | kept low sometim even negat |
| polici | sometim even negat monetari financi | polici | subordin prioriti keep treasuri financ |
| financ | polici subordin prioriti keep treasuri | financ | cost low strong postwar econom |
| econom | financ cost low strong postwar | econom | growth also contribut new pressur |
| growth | cost low strong postwar econom | growth | also contribut new pressur emerg |
| also | low strong postwar econom growth | also | contribut new pressur emerg u |
| financ | new pressur emerg u exampl | financ | strain vietnam war great societi |
| financ | collaps oil price shock impact | financ | general govern deficit becam high |
| global | mid public debt upward trajectori | global | financi crisi led public debt |
| countri | u k sever euro area | countri | approach percent gdp policymak bring |
| economi | fiscal reform explor question polit | economi | high public debt fiscal forum |
| countri | inequ main focus diverg across | countri | main question poorer countri catch |
| countri | across countri main question poorer | countri | catch richer one sinc record |
| econom | converg last year lidc weather | econom | financi headwind relat well recent |
| countri | piketti document rise inequ mani | countri | focus incom share top percentil |
| countri | fiscal adjust high unemploy mani | countri | put pressur govern address incom |
| polici | govern address incom inequ question | polici | design ensur inclus growth fad |
| growth | question polici design ensur inclus | growth | fad done much work topic |
| polici | upcom book inequ role fiscal | polici | releas next fall let turn |
| financ | fertil rate signific effect public | financ | chart show fertil rate japan |
| also | fallen well replac rate chart | also | show fertil rate forecast high |
| financ | ahead rest world deal public | financ | implic declin popul theme forthcom |
| countri | particip sharpli male particip mani | countri | chart show male labor forc |
| growth | femal labor forc particip boost | growth | mitig impact shrink workforc better |
| also | shrink workforc better opportun women | also | contribut broader econom develop tax |
| econom | opportun women also contribut broader | econom | develop tax expenditur polici design |
| polici | broader econom develop tax expenditur | polici | design effect boost women econom |
| econom | polici design effect boost women | econom | opportun look exampl brazil sweden |
| also | sweden fertil rate replac ratio | also | gap male femal labor forc |
| polici | percent attribut generous parent leav | polici | child care coverag job guarante |
| countri | imf analyz gender issu number | countri | let turn conclud part talk |
| global | aim play lead role set | global | polici agenda structur fiscal issu |
| polici | play lead role set global | polici | agenda structur fiscal issu build |
| also | concentr fiscal expert one roof | also | build synergi draw insight implement |
| countri | implement fiscal reform fad engag | countri | across world technic assist advic |
| polici | across world technic assist advic | polici | advic conjunct area depart countri |
| countri | polici advic conjunct area depart | countri | team map show countri fad |
| countri | depart countri team map show | countri | fad provid technic assist fad |
| countri | assist fad fiscal economist particip | countri | team continu serv center interact |
| countri | tenur enhanc signific fad support | countri | team continu see core work |
| polici | see core work want anticip | polici | issu debat use synergi insid |
| global | order fad provid import contribut | global | polici debat numer public note |
| polici | fad provid import contribut global | polici | debat numer public note slide |
| also | numer public note slide fad | also | increas particip global polici debat |
| global | slide fad also increas particip | global | polici debat fiscal monitor establish |
| polici | fad also increas particip global | polici | debat fiscal monitor establish carlo |
| also | monitor establish carlo leadership depart | also | promot fiscal polici dialogu member |
| polici | leadership depart also promot fiscal | polici | dialogu member fiscal forum network |
| financ | fiscal forum network senior ministri | financ | offici meet everi spring advanc |
| economi | highlight earlier present contempl polit | economi | fiscal polici look refer public |
| polici | present contempl polit economi fiscal | polici | look refer public choic analysi |
| polici | fiscal librari remain frontier fiscal | polici | agenda launch annual lectur seri |
| polici | academ contribut invit broad audienc | polici | maker academ repres intern organ |
| polici | repres intern organ want enrich | polici | advic make use wealth data |
| growth | ongo work effici public invest | growth | lacklust mani countri chart show |
| countri | public invest growth lacklust mani | countri | chart show potenti gdp forecast |
| growth | start octob see potenti gdp | growth | consist revis downward increas infrastructur |
| countri | infrastructur invest could benefit mani | countri | rais output immedi creat job |
| global | yaxi oftenus measur qualiti infrastructur | global | compet report see countri achiev |
| countri | infrastructur global compet report see | countri | achiev qualiti infrastructur could given |
| countri | capit stock help illustr mani | countri | public invest done better common |
| polici | expertis public financi manag expenditur | polici | analysi identifi key public invest |
| also | approach includ case studi analysi | also | allow us build tool use |
| financ | england borrow heavili florentin banker | financ | war franc seri militari failur |
| financ | strive lead center excel public | financ | global economi strive provid highest |
| global | lead center excel public financ | global | economi strive provid highest qualiti |
| economi | center excel public financ global | economi | strive provid highest qualiti advic |
| growth | qualiti advic promot sustain equit | growth | let conclud fad continu support |
| countri | let conclud fad continu support | countri | around world achiev good govern |
| econom | earli fourteenthcenturi citizen engag divers | econom | activ construct new build sell |
| also | peà ± a beelan yona | also | thank laura jaramillo coordin present |
| econom | time latin america stretch renew | econom | polit social recent year immens |
| growth | discuss possibl remedi support qualiti | growth | financi stabil entir region critic |
| growth | critic moment import ever foster | growth | inclus balanc sustain fund work |
| global | three topic reflect discuss chang | global | region econom condit social progress |
| econom | reflect discuss chang global region | econom | condit social progress latin america |
| econom | social progress latin america implic | econom | polici role regionwid solut longstand |
| polici | progress latin america implic econom | polici | role regionwid solut longstand problem |
| countri | achiev challeng past two decad | countri | latin america score polici hattrick |
| polici | decad countri latin america score | polici | hattrick triplet form low inflat |
| economi | inflat fiscal disciplin financi stabil | economi | thrive sound rulebas polici framework |
| polici | stabil economi thrive sound rulebas | polici | framework rise commod price favor |
| global | framework rise commod price favor | global | financi condit fact latin america |
| global | condit fact latin america buck | global | trend other flounder region weather |
| global | trend other flounder region weather | global | financi crisi quiet confid also |
| also | global financi crisi quiet confid | also | made huge progress reduc poverti |
| financ | compania program provid train manag | financ | product develop jamaica visit success |
| econom | school dropout improv skill match | econom | social achiev impress road ahead |
| global | ahead look increas bumpi start | global | econom financi condit shift unit |
| econom | look increas bumpi start global | econom | financi condit shift unit state |
| financ | decad fall era easi dollar | financ | end long overal global economi |
| global | dollar financ end long overal | global | economi risk get stuck call |
| economi | financ end long overal global | economi | risk get stuck call new |
| growth | stuck call new mediocr poor | growth | weak job creation need new |
| need | poor growth weak job creation | need | new polici momentum g member |
| polici | weak job creation need new | polici | momentum g member recent agre |
| growth | g member recent agre implement | growth | strategi would lift collect gdp |
| global | percent would generat signific benefit | global | economi second countri latin america |
| economi | would generat signific benefit global | economi | second countri latin america face |
| countri | signific benefit global economi second | countri | latin america face under vulner |
| polici | latin america face under vulner | polici | framework sure test extern condit |
| countri | test extern condit shift sever | countri | face fiscal pressur need reform |
| need | sever countri face fiscal pressur | need | reform tax system third mani |
| economi | reform tax system third mani | economi | region push capac constraint physic |
| econom | remain signific even though region | econom | growth expect remain modest percent |
| growth | signific even though region econom | growth | expect remain modest percent year |
| need | modest percent year percent underscor | need | structur reform area educ social |
| polici | middl class bring second topic | polici | implic rapid social progress grow |
| countri | brazil mexico uruguay reduc inequ | countri | percent unfortun despit progress social |
| countri | higher compar region latin american | countri | averag gini coeffici measur inequ |
| countri | specif concern may vari across | countri | survey show mani peopl share |
| need | protect expand public revenu base | need | creat inclus stronger societi distinguish |
| countri | crime know huge differ across | countri | crime affect entir region accord |
| also | region human cost enorm crime | also | hurt econom develop corrod democrat |
| econom | cost enorm crime also hurt | econom | develop corrod democrat institut sever |
| countri | develop corrod democrat institut sever | countri | buck trend use holist approach |
| countri | uruguay exampl highestrank latin american | countri | term transpar rule law second |
| countri | transpar rule law second mani | countri | need signific improv infrastructur network |
| need | rule law second mani countri | need | signific improv infrastructur network exampl |
| global | cost hinder latin america integr | global | valu chain underscor need invest |
| need | integr global valu chain underscor | need | invest greater region collabor energi |
| global | creat new way integr region | global | valu chain hope someth discuss |
| need | current challeng latin america certain | need | better integr would argu also |
| also | need better integr would argu | also | need new form integr lift |
| need | better integr would argu also | need | new form integr lift potenti |
| growth | new form integr lift potenti | growth | entir region beyond trade see |
| countri | labor secur energi environ competit | countri | alreadi share interest topic take |
| growth | integr would support latin america | growth | increas provis region public good |
| also | region public good servic would | also | strengthen latin america hand global |
| global | also strengthen latin america hand | global | negoti issu latin america imfth |
| econom | year ago help member prevent | econom | financi crise provid financ occur |
| financ | prevent econom financi crise provid | financ | occur fund also help lowincom |
| also | crise provid financ occur fund | also | help lowincom transit countri get |
| countri | fund also help lowincom transit | countri | get foothold global economi work |
| global | lowincom transit countri get foothold | global | economi work behind scene build |
| economi | transit countri get foothold global | economi | work behind scene build capac |
| need | certain grandmoth imf adapt chang | need | member latin america fund role |
| polici | tri hard provid time welltailor | polici | advic technic assist member region |
| economi | engag dialogu learn increas understand | economi | concern aspir peopl imf institut |
| global | endeavor intervent morn first discuss | global | region econom outlook highlight polici |
| econom | morn first discuss global region | econom | outlook highlight polici action need |
| polici | global region econom outlook highlight | polici | action need shift global economi |
| need | econom outlook highlight polici action | need | shift global economi stronger growth |
| global | highlight polici action need shift | global | economi stronger growth path asia |
| economi | polici action need shift global | economi | stronger growth path asia emphas |
| growth | need shift global economi stronger | growth | path asia emphas need rebuild |
| need | stronger growth path asia emphas | need | rebuild buffer press ahead structur |
| global | region initi play strengthen resili | global | outlooka discuss latest world econom |
| econom | global outlooka discuss latest world | econom | outlook global recoveri remain uneven |
| global | discuss latest world econom outlook | global | recoveri remain uneven prove weaker |
| global | expect larg due weakerthan expect | global | activ first half project world |
| economi | activ first half project world | economi | grow percent year pick modest |
| countri | moment outlook differ signific across | countri | region among advanc economi recoveri |
| economi | across countri region among advanc | economi | recoveri expect strongest unit state |
| growth | bank implement action reviv credit | growth | tackl low inflat deflationari pressur |
| global | pressur persist overal six year | global | financi crisi see advanc countri |
| countri | global financi crisi see advanc | countri | still confront legaci high debt |
| market | legaci high debt unemploy emerg | market | develop economi continu major driver |
| economi | debt unemploy emerg market develop | economi | continu major driver global growth |
| global | develop economi continu major driver | global | growth growth like slower recent |
| growth | economi continu major driver global | growth | growth like slower recent past |
| growth | continu major driver global growth | growth | like slower recent past part |
| global | decis believ downsid risk face | global | economi increas recent global financi |
| economi | believ downsid risk face global | economi | increas recent global financi stabil |
| global | face global economi increas recent | global | financi stabil report express concern |
| market | financi stabil report express concern | market | may underpr risk also concern |
| also | concern market may underpr risk | also | concern market fulli intern uncertainti |
| market | may underpr risk also concern | market | fulli intern uncertainti surround macroeconom |
| market | monetari stimulus recent increas financi | market | volatil remind risk potenti correct |
| polici | context faster normal u monetari | polici | could lead spike global interest |
| global | monetari polici could lead spike | global | interest rate sharp revers capit |
| economi | volatil risk particular relev emerg | economi | recipi sizabl portfolio inflow topic |
| also | session capit flow geopolit risk | also | could advers effect global economi |
| global | risk also could advers effect | global | economi escal tension ukrain middl |
| economi | also could advers effect global | economi | escal tension ukrain middl east |
| global | ukrain middl east could disrupt | global | commod price financi market trade |
| market | disrupt global commod price financi | market | trade spread ebola outbreak africa |
| growth | appropri address risk could undermin | growth | prospect part world crucial intern |
| global | look beyond near term risk | global | growth remain disappoint could result |
| growth | beyond near term risk global | growth | remain disappoint could result mutual |
| growth | result mutual reinforc declin potenti | growth | persist weak aggreg demand particular |
| economi | invest risk most preval advanc | economi | emerg economi also experienc declin |
| economi | most preval advanc economi emerg | economi | also experienc declin potenti growth |
| also | preval advanc economi emerg economi | also | experienc declin potenti growth action |
| growth | economi also experienc declin potenti | growth | action need two front continu |
| need | experienc declin potenti growth action | need | two front continu support domest |
| economi | implement reform boost suppli advanc | economi | rais growth requir continu support |
| growth | boost suppli advanc economi rais | growth | requir continu support monetari polici |
| polici | growth requir continu support monetari | polici | feasibl fiscal polici emerg market |
| polici | support monetari polici feasibl fiscal | polici | emerg market address under structur |
| market | polici feasibl fiscal polici emerg | market | address under structur problem carri |
| also | problem carri overdu structur reform | also | need prepar u monetari polici |
| need | carri overdu structur reform also | need | prepar u monetari polici normal |
| polici | also need prepar u monetari | polici | normal shift financi market sentiment |
| market | monetari polici normal shift financi | market | sentiment asia outlooklet turn outlook |
| growth | asia pacif region although firsthalf | growth | disappoint econom outlook region remain |
| econom | region although firsthalf growth disappoint | econom | outlook region remain solid gdp |
| growth | outlook region remain solid gdp | growth | project percent inch percent region |
| global | expect benefit ongo although modest | global | recoveri help sustain asia export |
| growth | low interest rate strong credit | growth | high asset price continu support |
| growth | support domest demand china gdp | growth | remain around percent expect moder |
| growth | vulner steadi implement reform japan | growth | project slow percent remain broad |
| growth | demand remain sluggish india gdp | growth | forecast rise percent acceler despit |
| global | indonesia thailand slow follow rebound | global | economi recov domest polici uncertainti |
| economi | thailand slow follow rebound global | economi | recov domest polici uncertainti subsid |
| polici | rebound global economi recov domest | polici | uncertainti subsid stronger trade remitt |
| economi | tourism revenu benefit frontier develop | economi | asia polici challengeshowev downsid risk |
| polici | benefit frontier develop economi asia | polici | challengeshowev downsid risk signific import |
| polici | disord reaction normal u monetari | polici | remain import risk saw last |
| also | last year geopolit tension could | also | disrupt trade capit flow although |
| also | east near term region could | also | advers affect sharper growth slowdown |
| growth | could also advers affect sharper | growth | slowdown china ongo correct real |
| also | estat credit develop household mortgag | also | indirect linkag use real estat |
| also | hous price elsewher region could | also | advers affect activ privat consumpt |
| growth | reform could lead slower potenti | growth | lead turn advers impact region |
| growth | turn advers impact region trade | growth | prospect also grow mediumterm risk |
| also | impact region trade growth prospect | also | grow mediumterm risk region whole |
| growth | mediumterm risk region whole potenti | growth | alreadi declin could weaken particular |
| economi | remain subdu background risk asian | economi | need rebuild buffer move ahead |
| need | subdu background risk asian economi | need | rebuild buffer move ahead structur |
| polici | infrastructur develop strengthen fundament rebuild | polici | space help asia weather futur |
| global | help asia weather futur turbul | global | market benefit clear u longterm |
| market | asia weather futur turbul global | market | benefit clear u longterm rate |
| economi | longterm rate rose last year | economi | retain investor confid stronger fundament |
| global | inflat reduc extern imbal assum | global | recoveri firm region policymak need |
| need | global recoveri firm region policymak | need | pursu gradual fiscal consolid particular |
| economi | gradual fiscal consolid particular import | economi | deficit debt larg andor output |
| need | larg andor output close potenti | need | stronger faster fiscal consolid mani |
| economi | stronger faster fiscal consolid mani | economi | region also start continu gradual |
| also | fiscal consolid mani economi region | also | start continu gradual tighten monetari |
| polici | tighten monetari condit recalibr monetari | polici | continu depend inflat growth develop |
| growth | monetari polici continu depend inflat | growth | develop growthenhanc reformsth structur reform |
| need | agenda vari across region china | need | hold comprehens blueprint rebal economi |
| economi | need hold comprehens blueprint rebal | economi | achiev sustain growth mani emerg |
| growth | blueprint rebal economi achiev sustain | growth | mani emerg frontier economi priorit |
| economi | sustain growth mani emerg frontier | economi | priorit reform boost product includ |
| also | includ address longstand supplysid bottleneck | also | need improv effici tax public |
| need | address longstand supplysid bottleneck also | need | improv effici tax public spend |
| need | progress structur reform element abenom | need | done japan korea prioriti tackl |
| also | vulner temporari worker infrastructur develop | also | boost shortterm demand potenti growth |
| growth | also boost shortterm demand potenti | growth | shown latest world econom outlook |
| econom | potenti growth shown latest world | econom | outlook stock infrastructur capit share |
| economi | consider past thirti year across | economi | emerg market lowincom countri infrastructur |
| market | thirti year across economi emerg | market | lowincom countri infrastructur provis per |
| countri | across economi emerg market lowincom | countri | infrastructur provis per capita remain |
| economi | per capita remain fraction advanc | economi | slack exist economi monetari polici |
| economi | fraction advanc economi slack exist | economi | monetari polici accommod boost aggreg |
| polici | economi slack exist economi monetari | polici | accommod boost aggreg demand infrastructur |
| countri | boost aggreg demand infrastructur bigger | countri | fiscal space evid higher public |
| financ | space evid higher public invest | financ | debt larger output effect budgetneutr |
| polici | prioriti agenda region integrationth domest | polici | action describ mitig spillov global |
| global | polici action describ mitig spillov | global | financi volatil one key question |
| also | seek address whether region initi | also | matter instanc would greater financi |
| econom | liber particular servic part asean | econom | communiti could provid boost product |
| also | boost product greater financi integr | also | hold promis higher product live |
| growth | trade financi integr strengthen propag | growth | shock busi cycl asia becom |
| growth | past two decad correl asean | growth | rate almost reach high level |
| econom | euro area imf april region | econom | outlook asia pacif found trend |
| economi | found trend increas trade asian | economi | past year account around onequart |
| growth | one driver like increas futur | growth | final demand china asian economi |
| economi | growth final demand china asian | economi | depend china general experienc greater |
| countri | comov china past decad suggest | countri | would affect growth shock origin |
| growth | decad suggest countri would affect | growth | shock origin china base empir |
| growth | one percentag point declin china | growth | lower gdp growth median asian |
| growth | declin china growth lower gdp | growth | median asian economi percentag point |
| economi | lower gdp growth median asian | economi | percentag point year doubl rate |
| economi | year doubl rate median nonasian | economi | financi integr ambival forc magnifi |
| global | impact busi cycl synchron larg | global | shock like global financi crisi |
| global | synchron larg global shock like | global | financi crisi normal time lower |
| polici | side effect greater spillov intern | polici | cooper play role selfinsur reserv |
| countri | selfinsur reserv accumul help individu | countri | cushion blow shock approach cost |
| countri | approach cost provid risk share | countri | point potenti stabil role provid |
| global | line central bank outsid region | global | financi safeti net provid imf |
| global | manag capit flow crucial issu | global | financi system era volum money |
| polici | border continu grow pace unimagin | polici | maker market particip capit flow |
| market | grow pace unimagin polici maker | market | particip capit flow liber import |
| econom | flow liber import element asia | econom | success size volatil capit flow |
| also | success size volatil capit flow | also | present polici challeng particular shortterm |
| polici | volatil capit flow also present | polici | challeng particular shortterm debt flow |
| econom | magnitud potenti danger underlin recent | econom | histori region remain core polici |
| polici | econom histori region remain core | polici | issu face global economi exampl |
| global | remain core polici issu face | global | economi exampl signific capit flow |
| economi | core polici issu face global | economi | exampl signific capit flow volatil |
| polici | flow today would like discuss | polici | challeng capit flow perspect nation |
| polici | challeng capit flow perspect nation | polici | multilater cooper address mitig risk |
| polici | address mitig risk improv effect | polici | strengthen intern monetari system let |
| econom | begin place discuss context current | econom | environ global environmentin remark morn |
| global | discuss context current econom environ | global | environmentin remark morn present imf |
| global | remark morn present imf analysi | global | economi highlight key risk polici |
| economi | morn present imf analysi global | economi | highlight key risk polici challeng |
| polici | global economi highlight key risk | polici | challeng must address one key |
| economi | key challeng discuss adjust advanc | economi | monetari polici risk sharp revers |
| polici | discuss adjust advanc economi monetari | polici | risk sharp revers capit flow |
| economi | capit flow saw last year | economi | depend extern financ larg presenc |
| financ | last year economi depend extern | financ | larg presenc foreign investor domest |
| market | presenc foreign investor domest financi | market | subject risk capit flow revers |
| countri | risk capit flow revers broad | countri | weaker fundament higher current account |
| econom | rate describ imf asiapacif region | econom | outlook releas last april place |
| polici | show policymak increas reli macroprudenti | polici | tool contain system risk pose |
| market | inflow often associ boom realest | market | rapid credit growth asian economi |
| growth | boom realest market rapid credit | growth | asian economi compar lessopen financi |
| economi | market rapid credit growth asian | economi | compar lessopen financi account region |
| polici | counterpart elsewher face increas complex | polici | challeng context capit flowsbefor address |
| polici | surround capit flow manag relat | polici | start point capit flow polici |
| polici | polici start point capit flow | polici | must appropri nation polici macroeconom |
| polici | flow polici must appropri nation | polici | macroeconom polici sound financi supervis |
| polici | must appropri nation polici macroeconom | polici | sound financi supervis regul strong |
| global | regul strong institut crucial know | global | trend toward liber inward outward |
| also | recognit benefit flow right condit | also | know capit flow liber carri |
| countri | flow liber carri risk magnifi | countri | yet attain suffici level financi |
| countri | presumpt full liber appropri goal | countri | time recent global financi crisi |
| global | appropri goal countri time recent | global | financi crisi shown larg volatil |
| countri | capit flow pose risk even | countri | long open high develop financi |
| market | long open high develop financi | market | said sever countri longstand extens |
| countri | develop financi market said sever | countri | longstand extens capit flow manag |
| economi | care liber system import emerg | economi | exampl china india announc plan |
| need | announc plan liber circumst liber | need | well plan sequenc ensur benefit |
| countri | sequenc ensur benefit outweigh cost | countri | experi suggest capit flow liber |
| polici | sound fiscal monetari exchang rate | polici | among emerg economi includ asia |
| economi | exchang rate polici among emerg | economi | includ asia signific progress made |
| growth | liber macroeconom cushion ampl strong | growth | low inflat high foreign reserv |
| also | foreign reserv composit capit flow | also | favor relat larg share fdi |
| market | financi develop reflect grow financi | market | depth enhanc regul supervis institut |
| polici | capit inflow disrupt outflow creat | polici | challeng countri manag macroeconom financi |
| countri | disrupt outflow creat polici challeng | countri | manag macroeconom financi stabil risk |
| need | risk associ volatil key role | need | play macroeconom polici includ monetari |
| polici | key role need play macroeconom | polici | includ monetari fiscal exchang rate |
| countri | manag capit flow close cooper | countri | author intern organ addit imf |
| polici | organ addit imf approach macroprudenti | polici | tool proven use mani countri |
| countri | polici tool proven use mani | countri | far discuss polici countri receiv |
| polici | use mani countri far discuss | polici | countri receiv side capit flow |
| countri | mani countri far discuss polici | countri | receiv side capit flow polici |
| polici | countri receiv side capit flow | polici | sourc countri also essenti part |
| countri | side capit flow polici sourc | countri | also essenti part pictur ongo |
| also | capit flow polici sourc countri | also | essenti part pictur ongo discuss |
| polici | part pictur ongo discuss monetari | polici | advanc economi make clear polici |
| economi | ongo discuss monetari polici advanc | economi | make clear polici maker countri |
| polici | polici advanc economi make clear | polici | maker countri must take account |
| countri | economi make clear polici maker | countri | must take account polici may |
| polici | maker countri must take account | polici | may affect global econom financi |
| global | take account polici may affect | global | econom financi stabil clear effect |
| econom | account polici may affect global | econom | financi stabil clear effect communic |
| market | support import reduc risk excess | market | volatil beyond monetari polici advanc |
| polici | excess market volatil beyond monetari | polici | advanc economi also need address |
| economi | volatil beyond monetari polici advanc | economi | also need address macroeconom financi |
| also | beyond monetari polici advanc economi | also | need address macroeconom financi stabil |
| need | monetari polici advanc economi also | need | address macroeconom financi stabil risk |
| market | stabil risk associ crossbord activ | market | institut jurisdict need strengthen financi |
| need | crossbord activ market institut jurisdict | need | strengthen financi system regul supervis |
| also | care monitor shadow bank sector | also | need progress recoveri resolut plan |
| need | monitor shadow bank sector also | need | progress recoveri resolut plan larg |
| polici | resolut intern cooperationin addit nation | polici | outlin intern coordin would help |
| polici | help mitig undesir spillov effect | polici | effort area encompass broad rang |
| economi | place includ better communic advanc | economi | polici regular interact among central |
| polici | includ better communic advanc economi | polici | regular interact among central banker |
| also | runup financi crisi imf could | also | enhanc collabor oecd relev intern |
| global | current junctur would identifi enhanc | global | financi safeti net could help |
| market | could help support advanc emerg | market | global economi transit away largescal |
| global | help support advanc emerg market | global | economi transit away largescal liquid |
| economi | support advanc emerg market global | economi | transit away largescal liquid support |
| countri | line cooper region financi arrang | countri | could also make greater use |
| also | region financi arrang countri could | also | make greater use imf precautionari |
| need | use imf precautionari arrang insur | need | regard recent complet expans asean |
| countri | region cooper provid safeti net | countri | access currenc swap line advanc |
| economi | access currenc swap line advanc | economi | central bank nevertheless much addit |
| polici | addit work remain done improv | polici | coordin financi sector progress reform |
| global | crossbord cooper resolut plan treatment | global | system import financi institut need |
| need | global system import financi institut | need | advanc mani countri still need |
| countri | financi institut need advanc mani | countri | still need address weak supervis |
| need | need advanc mani countri still | need | address weak supervis mani asean |
| countri | address weak supervis mani asean | countri | need strengthen regulatori supervisori framework |
| need | weak supervis mani asean countri | need | strengthen regulatori supervisori framework particular |
| polici | concert effort recent year clarifi | polici | capit flow put oper center |
| also | iv surveil process imf could | also | play use role promot consist |
| polici | suffici safeguard except provid govern | polici | space need accommod balanc payment |
| need | except provid govern polici space | need | accommod balanc payment pressur consequ |
| need | accommod balanc payment pressur consequ | need | consist multilater approach better support |
| also | support stabil intern monetari system | also | room intern organ share experi |
| global | organ share experi measur monitor | global | liquid discuss polici coordin structur |
| polici | measur monitor global liquid discuss | polici | coordin structur reform imf alreadi |
| market | discuss issu among advanc emerg | market | economi macroprudenti policybefor conclud would |
| economi | issu among advanc emerg market | economi | macroprudenti policybefor conclud would like |
| polici | would like go back prudenti | polici | effect macro microprudenti polici framework |
| polici | prudenti polici effect macro microprudenti | polici | framework nation level complement reinforc |
| polici | nation level complement reinforc macroeconom | polici | design address capit flow polici |
| polici | polici design address capit flow | polici | aim system financi stabil play |
| market | play import role shape incent | market | institut recent imf research show |
| countri | recent imf research show asian | countri | quit activ use macroprudenti tool |
| market | use macroprudenti tool relat hous | market | capit inflow major impact exampl |
| polici | hong kong sar korea singapor | polici | measur includ limit loantovalu ratio |
| growth | transact measur help reduc credit | growth | slow hous price inflat dampen |
| polici | littl evid foreign currencyrel macroprudenti | polici | capit flow manag measur system |
| polici | leverag portfolio inflow asia howev | polici | may impact distribut risk financi |
| growth | without necessarili strong impact credit | growth | asset price macroprudenti measur help |
| need | asset price boom experi still | need | gain polici could recalibr event |
| polici | boom experi still need gain | polici | could recalibr event downturn financi |
| also | regulatori supervisori reform reform would | also | reduc risk inher capit flow |
| global | risk intern financi system experi | global | crisi well recent econom market |
| econom | experi global crisi well recent | econom | market develop add extra urgenc |
| market | global crisi well recent econom | market | develop add extra urgenc imper |
| global | congratul seacen effort strengthen region | global | econom stabil thank much |
| econom | seacen effort strengthen region global | econom | stabil thank much |
| market | space cubic meter exact current | market | valu trillion u dollar know |
| countri | statist if almost everi member | countri | subscrib two newest member myanmar |
| global | grow faster pace gold implic | global | monetari system anoth factoid know |
| financ | leverag improv technolog expand access | financ | previous unbank peopl increas financi |
| countri | money technolog kenya financi inclus | countri | africa wonder imf care much |
| econom | record task count object anchor | econom | develop social behavior past sever |
| polici | vital build block make sound | polici | without reliabl time econom data |
| econom | sound polici without reliabl time | econom | data would wander dark make |
| econom | gut feel wors howev world | econom | financi statist static market evolv |
| market | world econom financi statist static | market | evolv polici need adapt need |
| polici | financi statist static market evolv | polici | need adapt need continu dialogu |
| need | statist static market evolv polici | need | adapt need continu dialogu user |
| need | market evolv polici need adapt | need | continu dialogu user supplier data |
| econom | dialogu user supplier data relev | econom | financi issu precis object forum |
| need | forum identifi macroeconom financi vulner | need | touch upon broad rang topic |
| market | topic includ crossbord linkag key | market | indic survey data even big |
| need | survey data even big data | need | bring relev inform servic macroeconom |
| global | imffsb g data gap initi | global | financi crisi reveal risk pose |
| market | risk pose interlinkag across institut | market | nation global financi system theme |
| global | interlinkag across institut market nation | global | financi system theme echo recent |
| countri | analysi outward spillov spillback system | countri | one consequ staff give greater |
| also | compar time data essenti work | also | underway imffsb g data gap |
| countri | sound indic fsis expand coverag | countri | present data standard initiativeswhil tri |
| also | standard initiativeswhil tri close gap | also | tri increas overal qualiti data |
| countri | g leader summit past weekend | countri | intend graduat gdds sdds staff |
| need | realiz year back two standard | need | enhanc februari therefor establish third |
| market | sheet data crossbord interconnect secur | market | pleas report first cluster nine |
| countri | pleas report first cluster nine | countri | commit adher sdds plus includ |
| countri | sweden unit state look forward | countri | join soon data public initiativefin |
| econom | make less oner report provid | econom | data much easier user share |
| global | true data support main forecast | global | economi world econom outlook import |
| economi | data support main forecast global | economi | world econom outlook import announc |
| econom | main forecast global economi world | econom | outlook import announc make start |
| global | payment data debt statist critic | global | indic imf continu vital sourc |
| need | continu vital sourc public inform | need | underpin sound polici decis thank |
| polici | public inform need underpin sound | polici | decis thank |
| also | thank much kind introduct let | also | thank secretari pritzker presid fred |
| polici | generos almost half centuri foreign | polici | indispens voic promot global understand |
| global | foreign polici indispens voic promot | global | understand cooper servic diplomaci role |
| polici | import today role fortun foreign | polici | play distinct leadership rothkopf glad |
| also | world throughout year histori imf | also | sought promot understand cooper econom |
| econom | also sought promot understand cooper | econom | diplomaci servic global financi stabil |
| global | understand cooper econom diplomaci servic | global | financi stabil delight therefor accept |
| global | public servant strive tireless support | global | economi nation peopl prosper one |
| economi | servant strive tireless support global | economi | nation peopl prosper one speak |
| econom | typic come mind yet experi | econom | issu often lie beneath surfac |
| econom | solut imf often involv interplay | econom | polit know fund creat farsight |
| econom | dna imf stock trade cours | econom | expertis howev approach work mindset |
| polici | idea nation go alon key | polici | spill back best solut negoti |
| need | idea undergon mani chang believ | need | evolv tonight would like discuss |
| need | especi futur multilater st centuri | need | multilater pastfirst past imf founder |
| econom | avoid nightmar broke fundament link | econom | isolation econom instabl conflict new |
| econom | broke fundament link econom isolation | econom | instabl conflict new world econom |
| econom | econom instabl conflict new world | econom | isol would replac cooper econom |
| econom | econom isol would replac cooper | econom | instabl prosper war peac way |
| econom | europ throughout world last year | econom | progress peopl compar period histori |
| financ | lift intern communiti lent expertis | financ | eas transit new market economi |
| market | expertis financ eas transit new | market | economi cooper effort help latin |
| economi | financ eas transit new market | economi | cooper effort help latin america |
| global | promot cooper provid uniqu platform | global | econom dialogu employ instrument econom |
| econom | cooper provid uniqu platform global | econom | dialogu employ instrument econom diplomaci |
| econom | global econom dialogu employ instrument | econom | diplomaci financ analysi technic assist |
| financ | dialogu employ instrument econom diplomaci | financ | analysi technic assist bolster confid |
| econom | action design expect go difficult | econom | situat expect first respond expect |
| growth | job make world safe stabl | growth | prosper imf serv broader interest |
| econom | must find answer today key | econom | challeng first six year financi |
| global | crisi hit still face realiti | global | economi struggl regain cruis speed |
| economi | hit still face realiti global | economi | struggl regain cruis speed spoke |
| growth | danger new mediocr combin anem | growth | weak job creation cast dark |
| polici | futur encourag membership strong agre | polici | creat new momentum includ growth |
| growth | polici creat new momentum includ | growth | jobfriend fiscal polici structur reform |
| polici | momentum includ growth jobfriend fiscal | polici | structur reform appropri infrastructur invest |
| econom | know well geopolit problem compound | econom | difficulti mediocr global recoveri intens |
| global | problem compound econom difficulti mediocr | global | recoveri intens confluenc polit econom |
| econom | global recoveri intens confluenc polit | econom | various hotspot humanitarian disast challeng |
| need | horizon bring third final theme | need | new multilater futur futur challeng |
| global | certain st centuri challeng demand | global | solut model smith invis hand |
| also | hand pursu one selfinterest would | also | serv collect interest requir solid |
| global | multilater institut un imf provid | global | framework cooper sovereign state serv |
| global | given high degre interconnected modern | global | economi mani challeng face repres |
| economi | high degre interconnected modern global | economi | mani challeng face repres collect |
| countri | selfinterest action act collect individu | countri | selfinterest achiev one obvious exampl |
| countri | chang cut carbon emiss individu | countri | cannot solv problem other pursu |
| polici | problem other pursu unchang opposit | polici | averag temperatur rise risk volatil |
| countri | water insecur frequent natur disast | countri | vulner countri must act collect |
| countri | frequent natur disast countri vulner | countri | must act collect tackl issu |
| global | issu world chang mani way | global | suppli chain crossbord financ draw |
| financ | way global suppli chain crossbord | financ | draw us closer day day |
| econom | actor shift center power conduct | econom | diplomaci multitud voic insist heard |
| market | reform imf increas represent emerg | market | countri line increas role global |
| countri | imf increas represent emerg market | countri | line increas role global economi |
| global | market countri line increas role | global | economi reform would also help |
| economi | countri line increas role global | economi | reform would also help sustain |
| also | role global economi reform would | also | help sustain fund capac meet |
| global | act intern solidar u demonstr | global | leadership display ampli seventi year |
| economi | annual nbp confer futur european | economi | imf could celebr import anniversari |
| econom | back well determin take ambiti | econom | transit determin need join eu |
| need | take ambiti econom transit determin | need | join eu earli possibl take |
| countri | european policymak cours poland one | countri | discuss today event journey seen |
| countri | tempt believ natur even inevit | countri | region would travel path outset |
| countri | inevit transit communist period left | countri | imf might call signific macroeconom |
| countri | mani imf work latin american | countri | seen inflat sovereign debt problem |
| economi | found could see even wors | economi | weigh huge monetari overhang result |
| financ | monetari overhang result flood money | financ | deficit budget state own enterpris |
| market | region economist policymak deep understand | market | econom even fewer prepar complex |
| econom | economist policymak deep understand market | econom | even fewer prepar complex task |
| market | complex task transform central plan | market | fact knowledg realli exist west |
| econom | turn fish stew aquarium wholesal | econom | chang requir went far beyond |
| econom | framework base valuat asset clear | econom | financi framework littl common challeng |
| need | major enterpris everi type condit | need | put privat hand larg legal |
| market | larg legal vacuum nonexist capit | market | often deep macroeconom instabl late |
| economi | gradualist abroad argu structur flaw | economi | would frustrat attempt liber therefor |
| econom | liber price improv govern stabl | econom | financi environ need reinforc one |
| need | govern stabl econom financi environ | need | reinforc one anoth littl could |
| financ | attend meet leszek first week | financ | ministri staff around huge confer |
| countri | privat bank compani seem clear | countri | made sweep chang kept reform |
| countri | kept reform stabil done well | countri | follow gradual path suffer declin |
| growth | declin old industri get boost | growth | new firm countri bout macroeconom |
| countri | get boost growth new firm | countri | bout macroeconom instabl repeat undermin |
| econom | first reform peopl matter histori | econom | transit courag politician reform step |
| financ | key imper liber price stabil | financ | privat state asset build govern |
| polici | implement difficult reform step ward | polici | approach inconsist european integr poland |
| countri | ahead fourth extern support friend | countri | provid stabil fund poland first |
| need | key case creditor provid restructur | need | overcom oner debt overhang poland |
| global | today region transform reintegr europ | global | economi sever central european countri |
| economi | region transform reintegr europ global | economi | sever central european countri includ |
| countri | global economi sever central european | countri | includ poland achiev per capita |
| countri | stark remind pictur rosi number | countri | especi balkan commonwealth independ state |
| growth | cycl hope follow crisi slow | growth | meant incom level lag way |
| countri | compani bank cours everyth rosi | countri | progress furthest transit day much |
| countri | take account join rank advanc | countri | given aftermath global financi crisi |
| global | rank advanc countri given aftermath | global | financi crisi spillov come deep |
| countri | western europ retain magnet pull | countri | must exercis caution demand export |
| growth | time join eurozon western europ | growth | central europ slow sharpli sinc |
| global | central europ slow sharpli sinc | global | financi crisi pace reform slow |
| growth | region risk vicious circl weak | growth | disillusion retreat marketori polici one |
| polici | weak growth disillusion retreat marketori | polici | one regrett topic word histor |
| econom | hope meet warsaw let hope | econom | transit becom part econom histori |
| econom | hope econom transit becom part | econom | histori curriculum alongsid modul central |
| countri | success would mean remain balkan | countri | join eu region fulli integr |
| growth | chain good case scenario european | growth | driven import extent rapid growth |
| growth | growth driven import extent rapid | growth | dynam come converg central south |
| countri | come converg central south european | countri | toward advanc economi level happen |
| economi | south european countri toward advanc | economi | level happen eu would becom |
| market | integr past year truli singl | market | good servic includ financi servic |
| countri | good servic includ financi servic | countri | region share fulli technolog chang |
| growth | past year none inevit slowdown | growth | evid region translat slowdown pace |
| growth | rate converg continu way illustr | growth | perform seen sinc global financi |
| global | illustr growth perform seen sinc | global | financi crisi year averag cee |
| countri | financi crisi year averag cee | countri | per capita gdp even purchas |
| countri | averag incom level balkan cis | countri | would still less half eu |
| growth | would take percentag point increas | growth | across region sustain quarter centuri |
| countri | instead someth work year ago | countri | overcom past need press harder |
| need | year ago countri overcom past | need | press harder marketori reform revit |
| polici | converg process stronger commit marketbas | polici | need countri region achiev incom |
| need | process stronger commit marketbas polici | need | countri region achiev incom level |
| countri | stronger commit marketbas polici need | countri | region achiev incom level would |
| countri | less complet prioriti differ across | countri | set regular consult report see |
| countri | two broad theme first number | countri | renew focus macroeconom financi stabil |
| market | climat govern access credit labor | market | public expenditur priorit tax administr |
| also | administr region other around world | also | face daunt demograph challeng next |
| growth | revers negat impact fiscal sustain | growth | avoid final point view imf |
| countri | initi reform effort virtual everi | countri | program involv gradual taper earli |
| countri | princip extern point refer mani | countri | crisi sudden found thrown back |
| countri | thrown back program work multipl | countri | program turn most end remain |
| econom | welcom highlevel caribbean forum unlock | econom | growth would like express appreci |
| growth | highlevel caribbean forum unlock econom | growth | would like express appreci govern |
| also | host forum beauti locat would | also | like thank colleagu develop partner |
| growth | continu focus attent core issu | growth | manag director also address growth |
| also | core issu growth manag director | also | address growth challeng caribbean breakfast |
| growth | growth manag director also address | growth | challeng caribbean breakfast annual meet |
| growth | earlier month heard clear reinvigor | growth | remain top prioriti confer program |
| growth | confer program took comprehens approach | growth | challeng year streamlin agenda cover |
| growth | greater detail issu biggest impact | growth | barrier impedi may inhibit growth |
| growth | growth barrier impedi may inhibit | growth | region help deepen understand issu |
| countri | kick forum import topic caribbean | countri | extrem depend import oil generat |
| polici | effici develop altern energi sourc | polici | encourag develop concur privat sector |
| econom | topic privat sector invest engin | econom | growth employ tax focus develop |
| growth | privat sector invest engin econom | growth | employ tax focus develop appropri |
| polici | wider increas complex issu great | polici | signific besid erod tax base |
| countri | would like share collabor number | countri | region technic assist program also |
| also | countri region technic assist program | also | forum benefit especi perspect success |
| also | reform realist within caribbean context | also | pose question whether scope collabor |
| econom | import robust financi system sustain | econom | growth seen crise elsewher difficult |
| growth | robust financi system sustain econom | growth | seen crise elsewher difficult countri |
| countri | growth seen crise elsewher difficult | countri | grow bank system threat henc |
| growth | key prerequisit deliv better caribbean | growth | present center sever import input |
| countri | canadian perspect issu much learn | countri | area furthermor success resolut regim |
| global | minim cost taxpay addit recent | global | financi crisi brought attent import |
| econom | last session final awar part | econom | diversif strategi develop intern financi |
| global | realiz ifc find accept place | global | financi communiti recogn region deepli |
| global | communiti recogn region deepli concern | global | initi enforc greater oversight increas |
| countri | cost involv implement initi know | countri | make best effort meet new |
| global | standard look closer ifc current | global | econom environ caribbean forum evolv |
| econom | look closer ifc current global | econom | environ caribbean forum evolv genuin |
| polici | region forg better mutual understand | polici | prioriti expect continu move posit |
| growth | reduc remov key constraint unlock | growth | caribbean |
| global | would like take minut address | global | outlook specif polici challeng econom |
| polici | minut address global outlook specif | polici | challeng econom outlookth global recoveri |
| econom | global outlook specif polici challeng | econom | outlookth global recoveri prove weaker |
| global | specif polici challeng econom outlookth | global | recoveri prove weaker expect disappoint |
| growth | recoveri prove weaker expect disappoint | growth | earlier year project world economi |
| economi | growth earlier year project world | economi | reduc percent growth year percent |
| growth | project world economi reduc percent | growth | year percent april forecast modest |
| growth | pickup next year percent apec | growth | project percent respect among advanc |
| economi | project percent respect among advanc | economi | recoveri expect strongest u activ |
| global | weakest euro area overal legaci | global | financi crisi remain includ high |
| market | includ high debt jobless emerg | market | develop economi led asia continu |
| economi | debt jobless emerg market develop | economi | led asia continu drive global |
| global | economi led asia continu drive | global | growth china slowdown gradual recoveri |
| growth | led asia continu drive global | growth | china slowdown gradual recoveri asean |
| market | strengthen next year even emerg | market | develop economi growth like slower |
| economi | year even emerg market develop | economi | growth like slower risk polici |
| growth | even emerg market develop economi | growth | like slower risk polici prioritiesw |
| polici | economi growth like slower risk | polici | prioritiesw believ downsid risk increas |
| global | prioritiesw believ downsid risk increas | global | region level recent low interest |
| global | fallen close precrisi level recent | global | financi stabil report express concern |
| market | financi stabil report express concern | market | might underpr risk close watch |
| market | might underpr risk close watch | market | develop past week broad u |
| polici | past week broad u monetari | polici | normal proceed polici maker alert |
| polici | u monetari polici normal proceed | polici | maker alert interest rate spike |
| economi | particular relev mani emerg apec | economi | receiv sizabl portfolio inflow anoth |
| also | risk eastern europ middl east | also | could affect financi market commod |
| market | east also could affect financi | market | commod price addit ebola outbreak |
| econom | west africa humanitarian crisi whose | econom | impact must watch close look |
| global | watch close look ahead risk | global | growth could remain mediocr expect |
| growth | close look ahead risk global | growth | could remain mediocr expect low |
| growth | remain mediocr expect low potenti | growth | weak aggreg demand reinforc appli |
| economi | demand reinforc appli primarili advanc | economi | particular euro area also affect |
| also | advanc economi particular euro area | also | affect emerg economi action need |
| economi | euro area also affect emerg | economi | action need two front continu |
| need | also affect emerg economi action | need | two front continu support domest |
| economi | demand reform boost suppli advanc | economi | continu support monetari polici need |
| polici | advanc economi continu support monetari | polici | need along fiscal polici feasibl |
| need | economi continu support monetari polici | need | along fiscal polici feasibl emerg |
| polici | monetari polici need along fiscal | polici | feasibl emerg market need structur |
| market | along fiscal polici feasibl emerg | market | need structur reform prepar u |
| need | fiscal polici feasibl emerg market | need | structur reform prepar u monetari |
| polici | structur reform prepar u monetari | polici | normal shift market sentiment strengthen |
| market | u monetari polici normal shift | market | sentiment strengthen fundament rebuilt polici |
| polici | market sentiment strengthen fundament rebuilt | polici | buffer prioriti infrastructur investmentthi bring |
| financ | investmentthi bring opportun infrastructur invest | financ | number economi increas public infrastructur |
| economi | opportun infrastructur invest financ number | economi | increas public infrastructur invest could |
| economi | consider past thirti year across | economi | emerg market lowincom countri infrastructur |
| market | thirti year across economi emerg | market | lowincom countri infrastructur provis per |
| countri | across economi emerg market lowincom | countri | infrastructur provis per capita remain |
| economi | per capita remain fraction advanc | economi | advanc economi age infrastructur insuffici |
| economi | remain fraction advanc economi advanc | economi | age infrastructur insuffici invest serious |
| economi | invest serious issu slack exist | economi | monetari polici accommod boost aggreg |
| polici | issu slack exist economi monetari | polici | accommod boost aggreg demand infrastructur |
| countri | aggreg demand infrastructur invest bigger | countri | fiscal space public invest financ |
| financ | countri fiscal space public invest | financ | debt larger output effect potenti |
| countri | th anniversari let wish member | countri | happi birthday would like recogn |
| countri | crisi crisi help lowincom transit | countri | gain foothold global economi help |
| global | lowincom transit countri gain foothold | global | economi help build capac strength |
| economi | transit countri gain foothold global | economi | help build capac strength resili |
| countri | flexibl sinc commit almost billion | countri | need provid train member technic |
| need | sinc commit almost billion countri | need | provid train member technic assist |
| countri | financi assist ukrain arab transit | countri | african nation hit ebola seventi |
| global | seem fray around edg sustain | global | econom engin increas question realli |
| econom | fray around edg sustain global | econom | engin increas question realli deliv |
| growth | basic choic acceler stagnat prospect | growth | job look road know huge |
| economi | chang workforc mani world dynam | economi | advanc emerg enter twilight year |
| countri | inequ peopl world today live | countri | inequ increas last three decad |
| growth | yet know excess inequ sap | growth | inhibit inclus undermin trust social |
| also | centuri haunt st centuri think | also | ecolog carnag come rapid warm |
| growth | high water stress shortag threat | growth | come futur assail us past |
| global | mean mean take long time | global | economi climb hole dug great |
| economi | mean take long time global | economi | climb hole dug great recess |
| growth | hole dug great recess expect | growth | percent year still percent next |
| countri | look work today unemploy form | countri | would fifth largest world region |
| growth | get stuck new mediocr poor | growth | paltri job creation overcom need |
| need | growth paltri job creation overcom | need | new momentum polici front demand |
| polici | creation overcom need new momentum | polici | front demand side monetari polici |
| polici | polici front demand side monetari | polici | certain continu support recoveri care |
| polici | attent potenti spillov spillback fiscal | polici | must custom countri circumst must |
| countri | spillback fiscal polici must custom | countri | circumst must give gain accru |
| polici | accru recent year time fiscal | polici | must growth jobsfriend possibl suppli |
| growth | year time fiscal polici must | growth | jobsfriend possibl suppli side need |
| need | growth jobsfriend possibl suppli side | need | movement across mani dimens open |
| market | busi environ especi mani emerg | market | lowincom countri use fiscal instrument |
| countri | especi mani emerg market lowincom | countri | use fiscal instrument like carbon |
| growth | work better togeth achiev higher | growth | outcom also need make job |
| also | togeth achiev higher growth outcom | also | need make job market inclus |
| need | achiev higher growth outcom also | need | make job market inclus mean |
| market | outcom also need make job | market | inclus mean activ labor market |
| market | market inclus mean activ labor | market | polici train program help young |
| polici | inclus mean activ labor market | polici | train program help young peopl |
| polici | help young peopl mean familyfriend | polici | like afford childcar flexibl work |
| econom | women particip equal foot men | econom | gamechang imf stand readi help |
| need | agenda offer countryspecif advic reform | need | make growth sustain jobrich inclus |
| growth | countryspecif advic reform need make | growth | sustain jobrich inclus stabil fragilitywhat |
| growth | stabil fragil present futur threat | growth | similar threat financi stabil real |
| economi | similar threat financi stabil real | economi | might suffer littl invest financi |
| econom | sun put anoth way littl | econom | risk take much financi risk |
| polici | much financi risk take monetari | polici | need stay accommod get growth |
| need | financi risk take monetari polici | need | stay accommod get growth need |
| growth | polici need stay accommod get | growth | need yet one side effect |
| need | need stay accommod get growth | need | yet one side effect danger |
| global | exampl mutual fund account percent | global | highyield debt twice much time |
| global | time risk concentr top ten | global | asset manag firm control whop |
| economi | whop trillion larger world largest | economi | unit state histori teach us |
| economi | financi stabil increas interconnected world | economi | know financi flow zap zoom |
| global | great benefit allow peopl access | global | financi network also come dark |
| also | peopl access global financi network | also | come dark side make financi |
| need | virul occur stark remind ultim | need | abl garner good banish bad |
| need | abl garner good banish bad | need | proactiv passiv tagor said cross |
| need | mere stand stare water mean | need | right tool polici financi market |
| polici | water mean need right tool | polici | financi market challeng polici must |
| market | need right tool polici financi | market | challeng polici must power regul |
| polici | tool polici financi market challeng | polici | must power regul supervisor must |
| need | especi bank regul yet still | need | overcom tooimportanttofail problem need better |
| need | still need overcom tooimportanttofail problem | need | better rule nonbank better monitor |
| need | bank better safeti transpar deriv | need | strengthen macroprudenti safeguard let candid |
| need | strengthen macroprudenti safeguard let candid | need | see chang cultur behavior need |
| need | need see chang cultur behavior | need | move away myopic mental led |
| need | world larg capit flow mean | need | larg global safeti net region |
| global | capit flow mean need larg | global | safeti net region arrang includ |
| global | import role play imf truli | global | institut focus financi stabil must |
| global | mani time past year strong | global | economi requir strong imf solidar |
| economi | time past year strong global | economi | requir strong imf solidar seclusionlet |
| also | knowledg today member imf yet | also | know global economi undergo radic |
| global | member imf yet also know | global | economi undergo radic shift fifti |
| economi | imf yet also know global | economi | undergo radic shift fifti year |
| market | shift fifti year ago emerg | market | develop economi account quarter world |
| economi | year ago emerg market develop | economi | account quarter world gdp today |
| global | gdp today half rise rapid | global | crisi emerg market contribut global |
| market | rise rapid global crisi emerg | market | contribut global growth diffus power |
| global | global crisi emerg market contribut | global | growth diffus power restrict nation |
| growth | crisi emerg market contribut global | growth | diffus power restrict nation state |
| also | restrict nation state aid technolog | also | see rapid rise divers network |
| global | see rapid rise divers network | global | stakehold ngos citi even citizen |
| polici | social media proven abil forc | polici | chang new realiti demand new |
| global | us updat adapt deepen mode | global | cooper requir use wonder technolog |
| econom | invest mean resist lure beggarthyneighbor | econom | mean place global good individu |
| global | lure beggarthyneighbor econom mean place | global | good individu selfinterest three area |
| also | area progress vital renew solidar | also | call global action turn tide |
| global | vital renew solidar also call | global | action turn tide climat chang |
| global | honor day day continu commit | global | cooper includ work higherrisk countri |
| countri | global cooper includ work higherrisk | countri | import ever work toward sound |
| global | must strive even repres dynam | global | membership make complet govern reform |
| need | govern reform crucial membership know | need | done right choic must made |
| growth | today confer challeng jobrich inclus | growth | today walk imf membership reflect |
| growth | shed light scale scope job | growth | challengeon first question scale scope |
| global | challeng let share coupl headlin | global | growth recov great recess uneven |
| growth | let share coupl headlin global | growth | recov great recess uneven brittl |
| global | recess uneven brittl look ahead | global | economi face prospect prolong subpar |
| economi | uneven brittl look ahead global | economi | face prospect prolong subpar growth |
| growth | economi face prospect prolong subpar | growth | accompani high unemploy rise inequ |
| growth | stuck time new mediocr level | growth | ilo tell us global unemploy |
| global | level growth ilo tell us | global | unemploy current stand million peopl |
| economi | began averag jobless rate develop | economi | stand percent compar percent crisi |
| growth | key obstacl tackl poverti boost | growth | youth unemploy particular concern global |
| global | growth youth unemploy particular concern | global | youth unemploy stand percent around |
| also | unemploy remain high incom inequ | also | reach critic level oxfam recent |
| polici | fell percent fair stark pictur | polici | prioriti sustain inclus growththat bring |
| polici | inclus growththat bring second question | polici | prioriti sustain inclus growth first |
| growth | question polici prioriti sustain inclus | growth | first fiscal polici within budget |
| polici | sustain inclus growth first fiscal | polici | within budget constraint govern design |
| growth | within budget constraint govern design | growth | jobsfriend polici exampl explor redirect |
| polici | constraint govern design growth jobsfriend | polici | exampl explor redirect public resourc |
| growth | activ effect promot jobrich inclus | growth | someth immedi spring mind reduc |
| market | structur reform especi product labor | market | one illustr potenti benefit area |
| economi | area imf estim euro area | economi | would close half gap market |
| market | economi would close half gap | market | relat best practic oecd euro |
| economi | share gdp current percent advanc | economi | percent develop economi american societi |
| economi | percent advanc economi percent develop | economi | american societi civil engin estim |
| need | civil engin estim addit infrastructur | need | u billion next four year |
| need | still live without electr infrastructur | need | clear need consid priorit improv |
| need | without electr infrastructur need clear | need | consid priorit improv qualiti effici |
| economi | public debt spend prioriti mani | economi | three area certain exhaust exampl |
| growth | anoth import consider promot inclus | growth | widen access opportun financi servic |
| growth | technolog innov larg bear inclus | growth | decad come imf role recent |
| polici | recent work job growththi question | polici | prioriti bring third final point |
| econom | advic increas mind social impact | econom | polici one indic come independ |
| polici | increas mind social impact econom | polici | one indic come independ evalu |
| countri | imf extend credit facil develop | countri | beyond measur protect vulner also |
| also | countri beyond measur protect vulner | also | featur imfsupport program higherincom member |
| also | euro area broad social consider | also | increas incorpor regular countrylevel econom |
| econom | also increas incorpor regular countrylevel | econom | surveil known articl iv consult |
| also | discuss employ incom distribut imf | also | conduct indepth research driver inclus |
| growth | conduct indepth research driver inclus | growth | recent paper incom inequ femal |
| growth | mind staff guidanc note job | growth | publish last year help translat |
| polici | help translat research practic imf | polici | advic actual countri case also |
| countri | practic imf polici advic actual | countri | case also strengthen collabor institut |
| also | polici advic actual countri case | also | strengthen collabor institut draw expertis |
| countri | work ilo intern organ assess | countri | build effect sustain social protect |
| countri | protect floor conduct pilot four | countri | burkina faso el salvador mozambiqu |
| countri | ilo expand scope pilot exercis | countri | bottom line made progress bring |
| growth | line made progress bring inclus | growth | center imf work still lot |
| global | foreign servic mission statement contribut | global | peac prosper human well educ |
| global | upon today grey cloud hover | global | economi blue sky growth prosper |
| economi | today grey cloud hover global | economi | blue sky growth prosper aspir |
| growth | hover global economi blue sky | growth | prosper aspir topic financ minist |
| financ | sky growth prosper aspir topic | financ | minist central bank governor member |
| countri | minist central bank governor member | countri | arriv washington next week annual |
| also | annual meet imf world bank | also | discuss cours role imf let |
| econom | fund help world fight mani | econom | crise europ asia latin america |
| market | union back europ help emerg | market | world poorest nation integr global |
| global | market world poorest nation integr | global | economi across entir membership help |
| economi | world poorest nation integr global | economi | across entir membership help build |
| econom | across entir membership help build | econom | financi capac recent year provid |
| global | capac recent year provid assist | global | financi crisi worst face world |
| countri | ukrain nation middl east ebolastricken | countri | west africa main job help |
| global | west africa main job help | global | economi shift gear overcom far |
| economi | africa main job help global | economi | shift gear overcom far disappoint |
| global | next week inde mani way | global | economi inflect point yes recoveri |
| economi | week inde mani way global | economi | inflect point yes recoveri know |
| growth | yes recoveri know feel level | growth | job simpli good enough world |
| need | job simpli good enough world | need | aim higher tri harder togeth |
| polici | countryspecif mean mean mix bolder | polici | inject new momentum overcom new |
| global | focus two topic first state | global | economi risk world could get |
| economi | two topic first state global | economi | risk world could get stuck |
| growth | get stuck time mediocr level | growth | ii second policymak generat polici |
| polici | growth ii second policymak generat | polici | momentum need power global activ |
| need | second policymak generat polici momentum | need | power global activ avoid new |
| global | generat polici momentum need power | global | activ avoid new mediocr conclud |
| global | see prioriti new multilater galvan | global | cooper role imf three m |
| growth | role imf three m mediocr | growth | momentum polici multilater action state |
| polici | three m mediocr growth momentum | polici | multilater action state global economi |
| global | momentum polici multilater action state | global | economi new mediocr first quick |
| economi | polici multilater action state global | economi | new mediocr first quick health |
| global | mediocr first quick health check | global | economi releas updat forecast next |
| economi | first quick health check global | economi | releas updat forecast next week |
| global | touch upon broad trend overal | global | economi weaker envisag even six |
| economi | upon broad trend overal global | economi | weaker envisag even six month |
| growth | modest pickup foreseen outlook potenti | growth | pare prospect differ cours across |
| countri | pare prospect differ cours across | countri | region fact one strike characterist |
| econom | fact one strike characterist current | econom | conjunctur countryspecif among advanc economi |
| economi | econom conjunctur countryspecif among advanc | economi | rebound expect strongest unit state |
| market | euro area within dispar emerg | market | develop economi much heavi lift |
| economi | within dispar emerg market develop | economi | much heavi lift crisi account |
| growth | lift crisi account percent world | growth | sinc led asia china particular |
| global | particular expect continu help drive | global | activ howev like slower pace |
| countri | like slower pace lowincom develop | countri | includ subsaharan africa econom prospect |
| econom | develop countri includ subsaharan africa | econom | prospect rise growth project broad |
| growth | subsaharan africa econom prospect rise | growth | project broad acceler beyond percent |
| countri | record last year debt build | countri | need watch well final middl |
| need | last year debt build countri | need | watch well final middl east |
| econom | middl east outlook cloud difficult | econom | transit intens social polit strife |
| global | crisi began see continu weak | global | economi countri still deal legaci |
| economi | began see continu weak global | economi | countri still deal legaci crisi |
| countri | see continu weak global economi | countri | still deal legaci crisi includ |
| growth | addit serious cloud horizon low | growth | long time one mean peopl |
| growth | time one mean peopl expect | growth | potenti lower tomorrow cut back |
| economi | serious imped recoveri especi advanc | economi | also grappl high unemploy low |
| also | imped recoveri especi advanc economi | also | grappl high unemploy low inflat |
| also | low inflat case euro area | also | cloud hover around asynchron monetari |
| polici | cloud hover around asynchron monetari | polici | normal advanc economi potenti spillov |
| economi | asynchron monetari polici normal advanc | economi | potenti spillov countri around world |
| countri | normal advanc economi potenti spillov | countri | around world back impact interest |
| econom | rate exchang rate variat well | econom | cloud financi one concern financi |
| economi | excess may build especi advanc | economi | asset valuat time high spread |
| market | time low worri migrat new | market | liquid risk shadow financi world |
| countri | lessregul nonbank sector grow rapid | countri | unit state exampl shadow bank |
| financ | nonbank activ complement bank sector | financ | economi import way yet opaqu |
| economi | activ complement bank sector financ | economi | import way yet opaqu activ |
| also | opaqu activ warrant heighten vigil | also | warrant increas effort complet agenda |
| market | monitor shadow bank make deriv | market | safer transpar well econom financi |
| econom | deriv market safer transpar well | econom | financi cloud geopolit risk includ |
| also | geopolit risk includ risk cours | also | involv immens human suffer hope |
| polici | remiss simpli ignor new momentum | polici | prioritiesth global economi inflect point |
| global | ignor new momentum polici prioritiesth | global | economi inflect point muddl along |
| economi | new momentum polici prioritiesth global | economi | inflect point muddl along subpar |
| growth | inflect point muddl along subpar | growth | new mediocr aim better path |
| polici | mediocr aim better path bold | polici | would acceler growth increas employ |
| growth | path bold polici would acceler | growth | increas employ achiev new momentum |
| need | m momentum generat one thing | need | better balanc polici toolkit use |
| polici | one thing need better balanc | polici | toolkit use demand suppli side |
| economi | toolkit use demand suppli side | economi | think famous georgetown hoya basketbal |
| need | famous georgetown hoya basketbal team | need | player work togeth win need |
| need | need player work togeth win | need | teamwork true global economi polici |
| global | togeth win need teamwork true | global | economi polici instrument must play |
| economi | win need teamwork true global | economi | polici instrument must play part |
| polici | need teamwork true global economi | polici | instrument must play part order |
| polici | order achiev proper balanc monetari | polici | provid import support demand crisi |
| polici | done much aid recoveri monetari | polici | cannot suffic moreov longer easi |
| polici | suffic moreov longer easi money | polici | continu greater risk fuell financi |
| need | greater risk fuell financi excess | need | monitor manag equal import mention |
| need | loom u implic part world | need | monitor manag continu gradual approach |
| polici | fed key adopt appropri macroprudenti | polici | countri stand affect monetari normal |
| countri | key adopt appropri macroprudenti polici | countri | stand affect monetari normal especi |
| market | affect monetari normal especi emerg | market | macroprudenti mean mean measur help |
| polici | liquid ratio back hoya monetari | polici | play part need support rest |
| need | hoya monetari polici play part | need | support rest team polici three |
| polici | part need support rest team | polici | three import interrel element help |
| growth | element help promot higher level | growth | job fiscal polici structur reform |
| polici | higher level growth job fiscal | polici | structur reform labor product market |
| market | polici structur reform labor product | market | public invest infrastructur let touch |
| polici | touch first growthfriend jobfriend fiscal | polici | great deal achiev mani countri |
| countri | polici great deal achiev mani | countri | recent year reduc excess deficit |
| polici | squander yet still lever fiscal | polici | pull boost growth job growthfriend |
| growth | lever fiscal polici pull boost | growth | job growthfriend jobfriend environmentfriend fiscal |
| polici | job growthfriend jobfriend environmentfriend fiscal | polici | help cannot substitut polici remov |
| polici | fiscal polici help cannot substitut | polici | remov deepseat distort labor product |
| market | remov deepseat distort labor product | market | ii bring structur reform essenti |
| need | past year lift consumpt invest | need | robust job wage growth particular |
| growth | invest need robust job wage | growth | particular need make labor market |
| need | robust job wage growth particular | need | make labor market stronger open |
| market | growth particular need make labor | market | stronger open product servic market |
| market | market stronger open product servic | market | also reinforc gain labor market |
| also | stronger open product servic market | also | reinforc gain labor market reform |
| market | market also reinforc gain labor | market | reform one exampl mani profess |
| countri | taxi driver close competit mani | countri | even polici would go far |
| polici | close competit mani countri even | polici | would go far unless improv |
| economi | far unless improv flow credit | economi | need insolv regim help bank |
| need | unless improv flow credit economi | need | insolv regim help bank privat |
| economi | credit flow back greas wheel | economi | one size fit polici must |
| polici | wheel economi one size fit | polici | must design accord countri circumst |
| countri | fit polici must design accord | countri | circumst whatev countryspecif measur might |
| need | whatev countryspecif measur might nation | need | place much higher premium structur |
| growth | import crisi inflict heavi toll | growth | invest remain well longterm trend |
| countri | trend last year estim g | countri | gdp percent lower could otherwis |
| economi | higher near percent trend advanc | economi | capit stock airport electr internet |
| global | percent major road poor condit | global | estim place spend infrastructur us |
| countri | next year obvious imper mani | countri | bottleneck obstacl transport energi suppli |
| countri | develop scope invest differ across | countri | depend infrastructur gap fiscal space |
| countri | depend infrastructur gap fiscal space | countri | ensur effici infrastructur spend crucial |
| growth | crucial question howev power impetus | growth | job one point recent estim |
| global | job one point recent estim | global | commiss economi climat indic integr |
| economi | point recent estim global commiss | economi | climat indic integr lower emiss |
| growth | histor low interest rate good | growth | good job good environ conclud |
| growth | multilater role fundw talk mediocr | growth | polici momentum need overcom would |
| polici | role fundw talk mediocr growth | polici | momentum need overcom would like |
| need | talk mediocr growth polici momentum | need | overcom would like conclud third |
| global | m multilater seen concret exampl | global | econom cooper action crisi perhap |
| econom | multilater seen concret exampl global | econom | cooper action crisi perhap promin |
| global | resourc imf bolster confid safeguard | global | financi system week ago g |
| growth | progress develop strategi lift mediumterm | growth | collect percent gdp hold promis |
| growth | collect percent gdp hold promis | growth | job imf cours forum cooper |
| also | introduc zerointerest loan lowincom member | also | signific increas financi assist across |
| global | manag capit control grow interconnected | global | economi spillov effect one countri |
| economi | capit control grow interconnected global | economi | spillov effect one countri polici |
| countri | global economi spillov effect one | countri | polici other push envelop negat |
| polici | economi spillov effect one countri | polici | other push envelop negat effect |
| growth | envelop negat effect excess inequ | growth | fiscal implic climat chang someth |
| growth | work forc power potenti boost | growth | incom might surpris learn largest |
| also | member benefit mauritius myanmar mexico | also | initi massiv open onlin cours |
| need | year effect st centuri cours | need | adequ resourc adequ reflect dynam |
| global | resourc adequ reflect dynam natur | global | membership end vast major member |
| countri | d être safeguard stabil help | countri | econom fallout forg cooper solut |
| econom | être safeguard stabil help countri | econom | fallout forg cooper solut global |
| global | econom fallout forg cooper solut | global | problem generat come like say |
| global | remark today first discuss outlook | global | economi review prospect main polici |
| economi | today first discuss outlook global | economi | review prospect main polici prioriti |
| polici | global economi review prospect main | polici | prioriti subsaharan africa angola messag |
| polici | consider progress past decad right | polici | angola build achiev turn difficult |
| econom | achiev turn difficult challeng continu | econom | success global outlookallow begin global |
| global | difficult challeng continu econom success | global | outlookallow begin global economi come |
| global | econom success global outlookallow begin | global | economi come long way crisi |
| economi | success global outlookallow begin global | economi | come long way crisi recess |
| global | crisi recess latest project see | global | growth  ½ percent year |
| growth | recess latest project see global | growth | Â ½ percent year percent |
| global | ½ percent year percent although | global | growth moder expect first quarter |
| growth | percent year percent although global | growth | moder expect first quarter updat |
| econom | quarter updat project publish world | econom | outlook octob global recoveri remain |
| global | publish world econom outlook octob | global | recoveri remain uneven prove weaker |
| growth | uneven prove weaker expect region | growth | advanc economi project reach percent |
| economi | weaker expect region growth advanc | economi | project reach percent strongest growth |
| growth | economi project reach percent strongest | growth | unit state fiscal consolid recent |
| polici | year reduc except japan monetari | polici | remain accommod howev euro area |
| countri | accommod howev euro area falter | countri | peripheri europ face high debt |
| growth | high debt financi sector difficulti | growth | falter core economi twothird global |
| economi | sector difficulti growth falter core | economi | twothird global growth come emerg |
| global | growth falter core economi twothird | global | growth come emerg develop economi |
| growth | falter core economi twothird global | growth | come emerg develop economi growth |
| economi | global growth come emerg develop | economi | growth  ½ percent expect |
| growth | growth come emerg develop economi | growth | Â ½ percent expect surpass |
| economi | ½ percent expect surpass percent | economi | help stronger import demand advanc |
| economi | help stronger import demand advanc | economi | tighter financi condit dampen domest |
| growth | condit dampen domest demand china | growth | project remain  ½ percent |
| growth | rein credit move achiev balanc | growth | path signific downsid risk remain |
| econom | signific loss life sever disrupt | econom | activ countri imf work close |
| countri | life sever disrupt econom activ | countri | imf work close affect countri |
| countri | countri imf work close affect | countri | assess econom impact execut board |
| econom | work close affect countri assess | econom | impact execut board short discuss |
| growth | held maputo earlier year region | growth | strong near two decad show |
| global | two decad show remark resili | global | crisi expect growth around  |
| growth | remark resili global crisi expect | growth | around  ½ percent edg |
| economi | africa natur resourc especi emerg | economi | help spur growth africa progress |
| growth | especi emerg economi help spur | growth | africa progress due commod boom |
| countri | work import polit stabil enabl | countri | use resourc build institut need |
| need | countri use resourc build institut | need | address challeng enabl peopl plan |
| polici | come two import trend first | polici | restor macroeconom stabil support sustain |
| growth | restor macroeconom stabil support sustain | growth | middl last decad mani countri |
| countri | growth middl last decad mani | countri | made consider progress cut fiscal |
| global | digit build foreign exchang reserv | global | crisi hit polici room polici |
| polici | exchang reserv global crisi hit | polici | room polici buffer respond could |
| polici | global crisi hit polici room | polici | buffer respond could undertak expansionari |
| polici | buffer respond could undertak expansionari | polici | exampl maintain even increas social |
| market | net vulner second trend recognit | market | forc play larger role develop |
| economi | africa attract invest advanc emerg | economi | record billion expect year said |
| countri | spread deterior secur situat african | countri | tighter global financi condit signific |
| global | secur situat african countri tighter | global | financi condit signific slowdown emerg |
| market | financi condit signific slowdown emerg | market | growth challeng may need address |
| growth | condit signific slowdown emerg market | growth | challeng may need address countri |
| need | emerg market growth challeng may | need | address countri polici buffer deplet |
| countri | growth challeng may need address | countri | polici buffer deplet polici respons |
| polici | challeng may need address countri | polici | buffer deplet polici respons difficult |
| polici | address countri polici buffer deplet | polici | respons difficult sever longer term |
| growth | first infrastructur invest area essenti | growth | huge financ gap project larg |
| financ | invest area essenti growth huge | financ | gap project larg scope ineffici |
| need | scope ineffici equal big project | need | care select implement countri need |
| countri | project need care select implement | countri | need wari financ invest debt |
| need | need care select implement countri | need | wari financ invest debt could |
| financ | select implement countri need wari | financ | invest debt could prove unsustain |
| also | strong govern transpar account crucial | also | need mediumterm fiscal framework guid |
| need | govern transpar account crucial also | need | mediumterm fiscal framework guid decis |
| need | capac save futur fiscal framework | need | part strong public financi manag |
| need | financi manag system spend goe | need | greatest impact third perhap import |
| need | impact third perhap import africa | need | develop peopl region labor forc |
| growth | labor forc educ healthi employ | growth | must inclus poverti declin recent |
| growth | effort requir angolalet turn angola | growth | sinc end civil war extraordinari |
| global | capita increas half angola recoveri | global | crisi also impress countri face |
| also | half angola recoveri global crisi | also | impress countri face balanc payment |
| countri | recoveri global crisi also impress | countri | face balanc payment crisi oil |
| growth | price collaps soon return strong | growth | support imf program higher oil |
| growth | foreign reserv adequ nonoil sector | growth | averag percent year sinc econom |
| econom | growth averag percent year sinc | econom | prospect remain posit oil shape |
| growth | infrastructur expect support nonoil sector | growth | around  ½ percent overal |
| growth | around  ½ percent overal | growth | percent said mani challeng remain |
| need | key step taken done angola | need | make import decis alloc oil |
| need | similar describ africa resourc produc | need | guid mediumterm macroeconom framework anchor |
| economi | institut arrang employ mani resourcerich | economi | way insul budget current year |
| countri | price framework prove success allow | countri | respond global financi crisi limit |
| global | prove success allow countri respond | global | financi crisi limit exposur fiscal |
| growth | fiscal account moder advers impact | growth | angola follow good practic know |
| growth | ongo area second challeng make | growth | inclus angola impress growth inclus |
| growth | make growth inclus angola impress | growth | inclus could poverti remain high |
| countri | high incom inequ visibl problem | countri | stabil longterm develop requir benefit |
| growth | stabil longterm develop requir benefit | growth | share even public spend direct |
| countri | public invest time sum spend | countri | social safeti net program ration |
| also | expand social safeti net could | also | help strengthen fiscal posit medium |
| economi | termth third challeng continu diversifi | economi | infrastructur invest help diversif medium |
| economi | hamper effort area angola rank | economi | world bank eas busi index |
| econom | eas busi index indic world | econom | forum global competit index show |
| global | index indic world econom forum | global | competit index show broad result |
| need | infrastructur improv critic improv competit | need | done includ area improv framework |
| countri | govern still much angola african | countri | improv govern situat detriment develop |
| need | govern situat detriment develop generat | need | build strong institut capabl formul |
| polici | strong institut capabl formul implement | polici | address problem talk good govern |
| polici | talk good govern refer process | polici | make implement clear transpar rule |
| polici | affect daili live monitor implement | polici | good govern matter without vest |
| polici | group abl influenc distort public | polici | implement privat benefit expens public |
| polici | face challeng one prioriti maintain | polici | buffer govern respond shock without |
| global | derail agenda angola felt effect | global | crisi part lack suffici polici |
| polici | global crisi part lack suffici | polici | space respond buffer sinc rebuilt |
| need | deficit magnitud project medium term | need | gradual revers protect angola anoth |
| countri | conclusional consid challeng reform agenda | countri | address similar problem imf work |
| countri | similar problem imf work member | countri | deal exact kind challeng order |
| growth | help achiev strong sustain inclus | growth | one way provid technic assist |
| polici | gracious hospit meet bring togeth | polici | maker two divers region face |
| global | like briefli discuss current state | global | recoveri would like address challeng |
| market | risk increas includ geopolit financi | market | risk asia europ share polici |
| polici | market risk asia europ share | polici | respons differ across region common |
| growth | demand region share challeng strengthen | growth | potenti structur reform allow elabor |
| global | reform allow elabor point detail | global | recoveri remain uneven prove weaker |
| also | activ pick second quarter howev | also | downward surpris euro area activ |
| polici | increas alongsid support central bank | polici | financi condit continu eas last |
| growth | although gradual improv current mediumterm | growth | outlook remain broad place downsid |
| global | increas challeng policymak risk evid | global | region level highlight see geopolit |
| also | higher ebola epidem western africa | also | concern entir world also risk |
| also | africa also concern entir world | also | risk rise longerterm interest rate |
| market | rise longerterm interest rate financi | market | especi true u rate increas |
| polici | wound depend u fed communic | polici | stanc time qe exit must |
| market | risk prematur withdraw stimulus financi | market | volatil one hand asset price |
| growth | across globe close monitor warrant | growth | shadow bank activ advanc emerg |
| economi | shadow bank activ advanc emerg | economi | present potenti system risk focus |
| growth | declin underscor disappoint second quarter | growth | includ core economi high unemploy |
| economi | second quarter growth includ core | economi | high unemploy recent declin inflat |
| growth | emerg europ alreadi slow weaker | growth | russia turkey emerg economi may |
| economi | weaker growth russia turkey emerg | economi | may face sudden worsen financi |
| market | due higher interest rate shift | market | sentiment impact geopolit tension far |
| countri | geopolit tension far seem restrict | countri | general tighten financi condit could |
| growth | direct invest could transmit shock | growth | trade financi flow baltic east |
| countri | financi flow baltic east european | countri | like affect mean europ econom |
| econom | countri like affect mean europ | econom | polici euro area support demand |
| polici | like affect mean europ econom | polici | euro area support demand remain |
| also | danger extend period low inflat | also | welcom ecb willing current broad |
| growth | neutral fiscal stanc appropri negat | growth | surpris trigger addit consolid instead |
| growth | adjust tune support recoveri longterm | growth | support growth potenti job creation |
| growth | support recoveri longterm growth support | growth | potenti job creation greater public |
| economi | public invest could help stimul | economi | shortterm rais longterm growth potenti |
| growth | stimul economi shortterm rais longterm | growth | potenti especi relev countri minim |
| countri | longterm growth potenti especi relev | countri | minim debt sustain concern invest |
| need | continu build capit plan address | need | follow comprehens assess emerg europ |
| need | fiscal buffer would lower borrow | need | risk premium time address issu |
| growth | bank fund cost support credit | growth | final structur reform europ crucial |
| market | mean free labor product servic | market | implement servic direct negoti free |
| market | free trade agreement integr energi | market | emerg europ improv busi environ |
| market | strengthen extern competit make labor | market | flexibl would help boost potenti |
| growth | flexibl would help boost potenti | growth | cope extern shock turn asia |
| growth | extern shock turn asia region | growth | momentum also cool earli secondhalf |
| also | turn asia region growth momentum | also | cool earli secondhalf rebound expect |
| economi | slowdown reflect slower export advanc | economi | lower domest demand china follow |
| growth | china follow measur rein credit | growth | specif domest factor case exampl |
| econom | japan thailand go forward stronger | econom | activ advanc economi lift asian |
| economi | forward stronger econom activ advanc | economi | lift asian export healthi labor |
| market | lift asian export healthi labor | market | favor financi condit continu support |
| global | risk asia stem sharp tighten | global | liquid protract weak global growth |
| global | tighten global liquid protract weak | global | growth europ sudden tighten global |
| growth | global liquid protract weak global | growth | europ sudden tighten global liquid |
| global | global growth europ sudden tighten | global | liquid could lead capit outflow |
| also | price volatil higher interest rate | also | face risk prolong weak growth |
| growth | also face risk prolong weak | growth | countri asian economi includ china |
| countri | face risk prolong weak growth | countri | asian economi includ china sharp |
| economi | prolong weak growth countri asian | economi | includ china sharp declin hous |
| polici | stabl close govern target monetari | polici | across region remain general accommod |
| also | case malaysia philippin monetari normal | also | proceed forecast horizon across asia |
| polici | posit inflat expect rise fiscal | polici | typic neutral under balanc broad |
| polici | tighten similar emerg europ fiscal | polici | focus gradual rebuild buffer better |
| growth | futur shock support sustain inclus | growth | fiscal consolid desir across asia |
| growth | reduc nearterm vulner bolster mediumterm | growth | effort reduc vulner includ financi |
| growth | reform japan reform bolster longterm | growth | includ product labor market reform |
| market | longterm growth includ product labor | market | reform japan measur remov structur |
| economi | impedi invest india asean frontier | economi | conclud global recoveri weak uneven |
| global | india asean frontier economi conclud | global | recoveri weak uneven asia europ |
| market | risk geopolit tension possibl financi | market | stress addit risk specif region |
| polici | risk specif region requir sustain | polici | respons region also need continu |
| also | requir sustain polici respons region | also | need continu structur reform remain |
| need | sustain polici respons region also | need | continu structur reform remain key |
| growth | reform remain key achiev sustain | growth | thank attent |
| also | confer inspir word introduct let | also | thank generous host today govern |
| global | sun authent person today ever | global | economi need precis kind radiant |
| economi | authent person today ever global | economi | need precis kind radiant sun |
| need | person today ever global economi | need | precis kind radiant sun provid |
| global | reason obvious seven year worst | global | financi crisi sinc great depress |
| growth | crisi abat face grave challeng | growth | slower new normal set popul |
| econom | new normal set popul age | econom | dispar increas given challeng need |
| need | econom dispar increas given challeng | need | econom growth dynam ingenu get |
| econom | dispar increas given challeng need | econom | growth dynam ingenu get year |
| growth | increas given challeng need econom | growth | dynam ingenu get year ahead |
| econom | stare us right face unleash | econom | power women bring world largest |
| also | leadership shown prime minist abe | also | prioriti us imf two year |
| econom | talk three thing today women | econom | exclus costslet start landscap exclus |
| economi | exist world rang percent oecd | economi | percent middl east north africa |
| economi | asia averag still low oecd | economi | anoth global realiti women particip |
| global | still low oecd economi anoth | global | realiti women particip tend stuck |
| global | tend stuck lowpay lowstatus job | global | women earn threequart much men |
| economi | gap percent high side oecd | economi | women also tend overrepres less |
| also | high side oecd economi women | also | tend overrepres less secur job |
| global | less secur job ippan shoku | global | women also tend lock leadership |
| also | job ippan shoku global women | also | tend lock leadership posit gender |
| global | north america japan percent clear | global | economi use product resourc effect |
| economi | america japan percent clear global | economi | use product resourc effect toss |
| econom | product resourc effect toss away | econom | growth time cannot afford wanton |
| growth | resourc effect toss away econom | growth | time cannot afford wanton wast |
| need | time cannot afford wanton wast | need | chang benefit greater inclus clear |
| global | agent aggreg demand account percent | global | consum spend want growth let |
| growth | percent global consum spend want | growth | let us put women driver |
| market | women might true case labor | market | start rais women posit men |
| market | rippl effect higher femal labor | market | particip could caus also know |
| also | labor market particip could caus | also | know busi side prejudic pay |
| econom | equiti exclud women simpli make | econom | sens includ women tremend boon |
| global | women tremend boon st centuri | global | economi unleash econom potenti womenthi |
| economi | tremend boon st centuri global | economi | unleash econom potenti womenthi bring |
| econom | st centuri global economi unleash | econom | potenti womenthi bring second area |
| econom | bring second area today unleash | econom | power potenti women think three |
| econom | think three main way chang | econom | polici chang law institut chang |
| polici | three main way chang econom | polici | chang law institut chang attitud |
| econom | chang attitud cultur let start | econom | polici clear bailiwick imf domain |
| polici | attitud cultur let start econom | polici | clear bailiwick imf domain countri |
| countri | polici clear bailiwick imf domain | countri | lift women adopt profemal profamili |
| polici | women adopt profemal profamili approach | polici | includ move famili individu taxat |
| polici | allow flexibl work arrang know | polici | work evid exampl sweden devot |
| countri | percent gdp childcar preprimari spend | countri | three time japan also take |
| also | spend countri three time japan | also | take workplac flexibl serious coincid |
| also | highest femal particip rate world | also | look netherland femal labor particip |
| countri | work without parttim right take | countri | like chile saw femal labor |
| econom | reflect cultur chang sure reflect | econom | polici especi larg increas social |
| polici | cultur chang sure reflect econom | polici | especi larg increas social spend |
| growth | clear boost particip women boost | growth | potenti countri second major area |
| countri | particip women boost growth potenti | countri | second major area affect women |
| countri | women less work studi span | countri | preliminari find gender gap lower |
| econom | equal law term inherit properti | econom | opportun specif seem matter equal |
| also | progress reduc poverti inequ think | also | saudi arabia main obstacl women |
| economi | restrict travel particip specif sector | economi | unequ properti inherit right encourag |
| polici | place sinc independ cours chang | polici | cannot fix everyth chang law |
| also | law institut cannot fix everyth | also | need chang attitud away maledomin |
| need | institut cannot fix everyth also | need | chang attitud away maledomin cultur |
| global | commission refuge regard one accomplish | global | leader generat know would happen |
| global | sum know take reach genderinclus | global | economi know benefit yield let |
| economi | know take reach genderinclus global | economi | know benefit yield let femal |
| econom | know benefit yield let femal | econom | empower japanthi take third area |
| growth | midcenturi popul age vital diminish | growth | slow hard maintain current live |
| growth | maintain current live standard expect | growth | potenti percent medium term one |
| growth | pay ad  ¼ percent | growth | year implement aggress signific yet |
| growth | even fall short percent boost | growth | japan need abenom succeed fli |
| need | short percent boost growth japan | need | abenom succeed fli color women |
| need | fli color women save japan | need | help structur reform let offer |
| polici | employ structur requir chang public | polici | complement chang busi cultur start |
| polici | complement chang busi cultur start | polici | key impedi limit avail childcar |
| economi | care elder parent world fastestag | economi | one option skill immigr know |
| need | everybodi win everybodi get job | need | everybodi get care need japan |
| need | job need everybodi get care | need | japan get shape demograph destini |
| polici | get shape demograph destini term | polici | area japan could also follow |
| also | term polici area japan could | also | follow intern best practic remov |
| need | target child care allow toward | need | know issu discuss limit cours |
| also | discuss limit cours govern accomplish | also | need address attitud cultur especi |
| need | limit cours govern accomplish also | need | address attitud cultur especi world |
| also | base output perform busi could | also | encourag men women take parent |
| econom | lesson clear want strong bright | econom | futur need strong bright women |
| need | want strong bright econom futur | need | strong bright women help drive |
| need | help drive mean strand societi | need | embrac inclus conclusioninclus good note |
| global | umeko tsuda yaeko yamamoto great | global | leader like sadako ogata think |
| global | asada effervesc young women behind | global | cultur phenomenon jpop even bold |
| also | iconoclast style harajuku girl think | also | million japanes women today brim |
| global | deliverygood morn delight back center | global | develop would like especi thank |
| econom | world poorest peopl indispens agent | econom | develop thank nanci lawrenc colleagu |
| econom | requir us overcom tripl crisi | econom | crisi social crisi environment crisi |
| also | greatest crise face generat centuri | also | issu upon futur generat judg |
| also | intern communiti come togeth yet | also | lot countri one theme today |
| countri | come togeth yet also lot | countri | one theme today imf role |
| economi | simpl degrad environ lead degrad | economi | environment damag macroeconom implic implic |
| polici | implic implic design impact fiscal | polici | environment damag macrocrit must also |
| also | polici environment damag macrocrit must | also | missioncrit us fossil fuel learn |
| econom | us fossil fuel learn doublededg | econom | sword unpreced improv global live |
| global | doublededg econom sword unpreced improv | global | live standard past centuri certain |
| econom | world becam richer energi fuel | econom | expans recent come fulli appreci |
| polici | around degre celsius absenc firm | polici | respons think also dirti air |
| also | absenc firm polici respons think | also | dirti air caus main burn |
| growth | prematur death year meanwhil relentless | growth | vehicl traffic result ever product |
| need | legitim hope surviv sometim poet | need | help form clear effect practic |
| polici | regim extract industri yet fiscal | polici | must take center stage messag |
| also | price reflect cost suppli energi | also | environment side effect bring main |
| economi | last year bad planet bad | economi | bad budget bad social equiti |
| need | bad budget bad social equiti | need | go well beyond elimin direct |
| also | revenu energi tax could cours | also | use pay public debt would |
| econom | sort tax shift limit advers | econom | effect whole point rais revenu |
| economi | point rais revenu way make | economi | work better fix market failur |
| market | make economi work better fix | market | failur cours tax energi rout |
| polici | simpl better reli patchwork uncoordin | polici | tell manufactur instal certain control |
| need | instrument price bad thing right | need | worri much subsid good thing |
| economi | high energi produc excess cost | economi | suffer delic import balanc get |
| need | import balanc get right policymak | need | sens magnitud environment damag impli |
| countri | environment damag across develop develop | countri | alik show damag impli appropri |
| polici | impli appropri energi tax benefit | polici | reform let rais obvious import |
| global | exampl put price tag futur | global | warm live save cleaner air |
| need | damag provid estim tax level | need | incorpor environment cost price coal |
| countri | coal natur gas gasolin diesel | countri | also offer accompani spreadsheet tool |
| also | natur gas gasolin diesel countri | also | offer accompani spreadsheet tool avail |
| polici | help inform debat make transpar | polici | implic altern assumpt provid benchmark |
| polici | assumpt provid benchmark less effici | polici | evalu policymak better understand tradeoff |
| countri | exampl dirtiest fuel yet almost | countri | impos meaning tax use work |
| countri | twothird current world price coal | countri | lot peopl expos air pollut |
| also | obvious carbon air pollut damag | also | cost come congest risk addit |
| countri | substanti charg across develop develop | countri | countri alreadi vanguard mani countri |
| countri | charg across develop develop countri | countri | alreadi vanguard mani countri europ |
| countri | countri countri alreadi vanguard mani | countri | europ exampl alreadi impos tax |
| also | drive busi road deal congest | also | need make sure poorest vulner |
| need | busi road deal congest also | need | make sure poorest vulner household |
| polici | planet save budget exampl estim | polici | reduc fossil fuel death percent |
| need | case action becom urgent yes | need | global cooper overcom global challeng |
| global | action becom urgent yes need | global | cooper overcom global challeng like |
| global | yes need global cooper overcom | global | challeng like climat chang vein |
| polici | intern effort move climat mitig | polici | forward yet prove hard cost |
| countri | dispers across globe excus individu | countri | stay hold pattern shown lot |
| countri | stay hold pattern shown lot | countri | protect environ act nation interest |
| need | educ substanti higher fuel price | need | inde unavoid deal mount environment |
| global | let get done nation level | global | level know need go get |
| need | nation level global level know | need | go get let us start |
| countri | start journey promis imf help | countri | move forward polici advic countri |
| polici | imf help countri move forward | polici | advic countri seek technic assist |
| countri | countri move forward polici advic | countri | seek technic assist togeth thank |
| countri | may grow wider deeper communiti | countri | proven right part today europ |
| global | like touch larg scale under | global | trend shape europ futur immedi |
| polici | trend shape europ futur immedi | polici | challeng european face today follow |
| growth | provid leaven support strong durabl | growth | come decad long term trendsturn |
| global | let briefli mention three first | global | interconnected global trade expand averag |
| global | mention three first global interconnected | global | trade expand averag percent per |
| growth | annum help support real gdp | growth | percent year open trade financi |
| global | trade financi flow help rais | global | growth welfar without elimin poverti |
| growth | financi flow help rais global | growth | welfar without elimin poverti economi |
| economi | growth welfar without elimin poverti | economi | also pose major challeng like |
| also | welfar without elimin poverti economi | also | pose major challeng like rise |
| global | world come decad power forc | global | communic technolog financi flow migrat |
| also | today percent societi especi asia | also | go dramat age popul futur |
| econom | futur enorm ramif social polit | econom | third technolog innov smart phone |
| also | took apollo spacecraft moon phone | also | time smaller cours signific cheaper |
| also | rais peopl expect hyperconnect world | also | make lot tradit job obsolet |
| global | second question bear mind chang | global | context key challeng policymak face |
| economi | face today good news european | economi | recov crisi confid improv financi |
| market | recov crisi confid improv financi | market | upbeat perhap upbeat sustain strengthen |
| growth | sustain strengthen recoveri make sure | growth | strong last inclus without difficult |
| growth | ratio jeopard invest lower futur | growth | europ first need tackl structur |
| need | lower futur growth europ first | need | tackl structur road block hurt |
| market | memori lectur honor tommaso padoaschioppa | market | open eu legisl structur reform |
| economi | open agre progress euro area | economi | would close percent gap product |
| market | close percent gap product labor | market | relat best practic oecd estim |
| need | forecast today structur reform would | need | accompani measur discuss recent articl |
| need | europethi bring third final point | need | deeper econom integr want discuss |
| econom | third final point need deeper | econom | integr want discuss polit side |
| econom | discuss polit side thing three | econom | theme relev view first imper |
| global | labor forc mobil across border | global | competit skill labor steep euro |
| also | import capac learn futur employ | also | declin rapid moreov rapid age |
| economi | ever reliant younger worker support | economi | sustain social safeti net let |
| economi | worker hold ever competit world | economi | carri burden retir babi boomer |
| need | good collabor univers busi world | need | solut remain found second develop |
| market | second develop diversifi region capit | market | support innov invest longterm growth |
| growth | market support innov invest longterm | growth | particular securit lend smes could |
| growth | would help crossbord invest boost | growth | type fund time import revers |
| market | subject prudenti norm bank oper | market | third new market open market |
| market | bank oper market third new | market | open market effici market good |
| market | market third new market open | market | effici market good product competit |
| market | new market open market effici | market | good product competit free trade |
| market | area product deeper integr world | market | would improv product plug countri |
| countri | market would improv product plug | countri | global suppli chain implement servic |
| global | would improv product plug countri | global | suppli chain implement servic direct |
| need | point enough area concret achiev | need | certain possibl perhap rais question |
| polici | greec come highlight three key | polici | prioriti challeng fiscal structur reform |
| market | fiscal deficit doubl digit time | market | access lost mid current coalit |
| economi | deposit leav bank system drove | economi | collaps govern determin polici action |
| polici | drove economi collaps govern determin | polici | action sinc taken grexit tabl |
| econom | grexit tabl see initi sign | econom | stabil potenti start virtuous cycl |
| economi | stabil potenti start virtuous cycl | economi | contract smallest amount six year |
| market | high around percent govern reaccess | market | first time sinc crisi yield |
| market | precrisi level rise investor interest | market | access greek bank corpor improv |
| growth | ground cautious optim expect annual | growth | turn posit first time sinc |
| also | turn posit first time sinc | also | first time sinc crisi even |
| growth | sign upsid risk near term | growth | forecast especi extern liquid condit |
| polici | eas tourism rebound turn fiscal | polici | first three polici prioriti highlight |
| polici | turn fiscal polici first three | polici | prioriti highlight lynchpin author program |
| countri | fact episod among euro zone | countri | sinc sustain primari surplus level |
| also | year belgium ireland greec late | also | sustain primari surplus four year |
| also | time around reach program target | also | sustain full polit cycl mani |
| also | pain acrosstheboard cut wage pension | also | imper undertak ambiti fiscal structur |
| polici | pay fair share tax second | polici | prioriti structur reform product labor |
| market | prioriti structur reform product labor | market | progress compar less acceler structur |
| growth | incipi recoveri turn sustain robust | growth | move greec away adjust recessionari |
| market | adjust recessionari channel landmark labor | market | reform help bring wage closer |
| economi | weak relat peripher euro area | economi | portug spain export greec grown |
| growth | spain export greec grown rd | growth | rate portug spain sinc trough |
| market | redoubl effort liber product servic | market | e g lower barrier entri |
| market | address remain excess restrict labor | market | bring greec framework collect dismiss |
| growth | cost busi thus contribut invest | growth | job structur reform agenda quit |
| growth | financi sector transit new dynam | growth | model financi sector play critic |
| need | sector play critic role realloc | need | liquid grow effici firm sector |
| growth | unproduct ineffici activ thus dampen | growth | given constraint currenc union structur |
| growth | constraint currenc union structur impedi | growth | would optimist assum bank would |
| economi | simpli grow way npl problem | economi | recov regard see upsid risk |
| need | upsid risk bank greec capit | need | estim think bank sector like |
| econom | robust high npls pave way | econom | recoveri develop area need kept |
| need | way econom recoveri develop area | need | kept close review unless earli |
| also | brought line repay capac would | also | reduc incent view limit competit |
| economi | fee therebi extract rent real | economi | conclus greec come long way |
| market | area least reform product servic | market | boost competit fiscal structur reform |
| need | left behind longlast scar still | need | heal height crisi bold respons |
| polici | recoveri point role suppli side | polici | support stronger growth theme meet |
| growth | suppli side polici support stronger | growth | theme meet year suggest need |
| need | growth theme meet year suggest | need | higher invest today stronger growth |
| growth | need higher invest today stronger | growth | tomorrow today invest shortfal virtual |
| countri | tomorrow today invest shortfal virtual | countri | public invest took hard hit |
| economi | took hard hit crisi mani | economi | privat invest crowd privat invest |
| also | privat invest crowd privat invest | also | lower public cutback invest like |
| growth | cutback invest like hold back | growth | prospect emerg market develop economi |
| market | hold back growth prospect emerg | market | develop economi infrastructur constraint alreadi |
| economi | growth prospect emerg market develop | economi | infrastructur constraint alreadi hurt growth |
| growth | economi infrastructur constraint alreadi hurt | growth | sure constraint growth vari consider |
| growth | alreadi hurt growth sure constraint | growth | vari consider across countri decis |
| countri | constraint growth vari consider across | countri | decis scale public spend infrastructur |
| countri | public financi sustain come first | countri | may qualifi current environ weak |
| growth | may qualifi current environ weak | growth | prospect low borrow cost scale |
| growth | public invest provid muchneed boost | growth | especi advanc economi perman increas |
| economi | muchneed boost growth especi advanc | economi | perman increas output invest could |
| countri | rise cours opportun open everi | countri | borrow pagnol frame would like |
| global | present give tour d horizon | global | economi nearterm risk second relat |
| economi | give tour d horizon global | economi | nearterm risk second relat explor |
| growth | especi public invest support stronger | growth | futur tour d horizon global |
| global | growth futur tour d horizon | global | economi present let start brief |
| economi | futur tour d horizon global | economi | present let start brief overview |
| global | present let start brief overview | global | economi releas updat forecast coupl |
| economi | let start brief overview global | economi | releas updat forecast coupl week |
| global | coupl week focus broad trend | global | activ unexpect weak earlier year |
| economi | second half year acceler advanc | economi | strengthen although recoveri remain tepid |
| growth | meaning rebound activ underway expect | growth | acceler come quarter cours hing |
| also | mediumterm fiscal plan euro area | also | slowli emerg recess although recoveri |
| need | remain critic durabl recoveri reform | need | sustain countri level well japan |
| countri | durabl recoveri reform need sustain | countri | level well japan under momentum |
| need | greater structur fiscal reform still | need | growth sustain turn emerg market |
| growth | structur fiscal reform still need | growth | sustain turn emerg market develop |
| market | need growth sustain turn emerg | market | develop economi growth mani countri |
| economi | sustain turn emerg market develop | economi | growth mani countri hit soft |
| growth | turn emerg market develop economi | growth | mani countri hit soft patch |
| countri | market develop economi growth mani | countri | hit soft patch earlier year |
| countri | part due weaker export even | countri | continu provid bulk global growth |
| global | even countri continu provid bulk | global | growth albeit slower pace emerg |
| growth | countri continu provid bulk global | growth | albeit slower pace emerg asia |
| global | emerg asia particular expect remain | global | powerhous push ahead world highest |
| growth | powerhous push ahead world highest | growth | rate china key driver perform |
| also | Â ½ percent subsaharan africa | also | contribut global growth mani african |
| global | percent subsaharan africa also contribut | global | growth mani african countri manag |
| growth | subsaharan africa also contribut global | growth | mani african countri manag weather |
| countri | contribut global growth mani african | countri | manag weather crisi well sustain |
| growth | averag second highest asia forecast | growth | continu provid risk debt accumul |
| global | space care manag see state | global | economi near term even need |
| economi | care manag see state global | economi | near term even need watch |
| need | global economi near term even | need | watch three major risk loom |
| economi | risk loom horizon first advanc | economi | particular euro area emerg risk |
| market | remain stubborn low second emerg | market | economi favor market sentiment seem |
| economi | stubborn low second emerg market | economi | favor market sentiment seem restor |
| market | second emerg market economi favor | market | sentiment seem restor yet risk |
| market | seem restor yet risk renew | market | volatil associ monetari normal u |
| polici | essenti along continu strong focus | polici | fundament emerg market third need |
| market | strong focus polici fundament emerg | market | third need keep eye issu |
| need | polici fundament emerg market third | need | keep eye issu us sinc |
| countri | heal high debt level mani | countri | need complet financi reform agenda |
| need | high debt level mani countri | need | complet financi reform agenda worri |
| countri | worri stubborn high unemploy mani | countri | especi among young peopl togeth |
| econom | especi among young peopl togeth | econom | risk geopolit risk also rise |
| also | togeth econom risk geopolit risk | also | rise various place around world |
| also | rise various place around world | also | watch ukrain south china sea |
| global | china sea middl east balanc | global | activ strengthen could weaker expect |
| growth | strengthen could weaker expect potenti | growth | lower invest remain depress invest |
| countri | hurdl beyond busi invest mani | countri | washeld back econom polici uncertainti |
| econom | invest mani countri washeld back | econom | polici uncertainti lack trust second |
| polici | mani countri washeld back econom | polici | uncertainti lack trust second hous |
| countri | invest took nose dive crisi | countri | experienc domest hous boom crisi |
| countri | reflect correct therefor like persist | countri | declin may temporari tighter lend |
| countri | stage public invest increas mani | countri | implement fiscal measur counter recess |
| need | focus shift sovereign debt level | need | consolid financ becam expens even |
| financ | sovereign debt level need consolid | financ | becam expens even factor reinforc |
| countri | share gdp fall advanc develop | countri | present percent advanc economi percent |
| economi | develop countri present percent advanc | economi | percent develop economi advanc economi |
| economi | percent advanc economi percent develop | economi | advanc economi capit stock deplet |
| economi | economi percent develop economi advanc | economi | capit stock deplet public invest |
| need | major concern road electr network | need | greater mainten repair side atlant |
| need | mediocr condit estim addit infrastructur | need | whole countri us billion next |
| countri | estim addit infrastructur need whole | countri | us billion next four year |
| economi | billion next four year develop | economi | pickup public invest recent year |
| growth | infrastructur gap becom major constraint | growth | mani countri popul growth urban |
| countri | becom major constraint growth mani | countri | popul growth urban rise per |
| growth | constraint growth mani countri popul | growth | urban rise per capita incom |
| growth | power transport bottleneck act brake | growth | key emerg market brazil india |
| market | act brake growth key emerg | market | brazil india russia south africa |
| economi | could bring peopl formal network | economi | time countri like china need |
| countri | peopl formal network economi time | countri | like china need fine tune |
| need | economi time countri like china | need | fine tune invest strategi reduc |
| also | invest strategi reduc invest level | also | improv spend effici geograph alloc |
| polici | fallen substanti thank accommod monetari | polici | provid major impetus invest deleverag |
| econom | held back deleverag pressur uncertainti | econom | polit uncertainti pervas financi crisi |
| also | euro area sovereign debt crisi | also | reced key restor busi confid |
| growth | uncertainti emerg higher invest stronger | growth | futur seen crisi hurt invest |
| countri | seen crisi hurt invest various | countri | know global recoveri need booster |
| global | hurt invest various countri know | global | recoveri need booster shot higher |
| need | various countri know global recoveri | need | booster shot higher invest bring |
| growth | today increas invest support stronger | growth | futur begin clear scope increas |
| countri | increas public invest vari one | countri | anoth first infrastructur need vari |
| need | one countri anoth first infrastructur | need | vari across countri second countri |
| countri | first infrastructur need vari across | countri | second countri infrastructur need could |
| countri | need vari across countri second | countri | infrastructur need could face fiscal |
| need | across countri second countri infrastructur | need | could face fiscal financi capac |
| countri | fiscal financi capac constraint general | countri | need protect hard won gain |
| need | financi capac constraint general countri | need | protect hard won gain fiscal |
| polici | fiscal consolid past year macroeconom | polici | play import role demand suppli |
| economi | role demand suppli side advanc | economi | given still larg output gap |
| polici | still larg output gap macroeconom | polici | need remain support growth boost |
| need | larg output gap macroeconom polici | need | remain support growth boost demand |
| growth | macroeconom polici need remain support | growth | boost demand keep user cost |
| polici | user cost capit low accommod | polici | help stimul privat invest emerg |
| market | help stimul privat invest emerg | market | economi focus remain address imbal |
| economi | stimul privat invest emerg market | economi | focus remain address imbal vulner |
| polici | qualiti invest beyond support demand | polici | also need consid suppli side |
| also | invest beyond support demand polici | also | need consid suppli side economi |
| need | beyond support demand polici also | need | consid suppli side economi especi |
| economi | also need consid suppli side | economi | especi infrastructur invest accord world |
| econom | especi infrastructur invest accord world | econom | forum global spend basic infrastructur |
| global | invest accord world econom forum | global | spend basic infrastructur transport power |
| polici | korea gdp huge number fiscal | polici | certain help appropri design support |
| growth | help appropri design support longrun | growth | potenti includ enhanc infrastructur invest |
| countri | would rais longrun potenti output | countri | current consolid afford depend implement |
| econom | posit effect tend stronger period | econom | slack resourc underutil precis situat |
| economi | underutil precis situat sever advanc | economi | find today even increas infrastructur |
| growth | public invest manag crucial deriv | growth | benefit addit infrastructur invest especi |
| countri | addit infrastructur invest especi develop | countri | exampl emerg market economi reduc |
| market | especi develop countri exampl emerg | market | economi reduc ineffici would provid |
| economi | develop countri exampl emerg market | economi | reduc ineffici would provid boost |
| countri | capit would even larger lowincom | countri | ineffici higher equival increas govern |
| polici | percentag point gdp still structur | polici | busi climat improv also strong |
| also | structur polici busi climat improv | also | strong potenti improv invest prospect |
| polici | invest prospect power complement macroeconom | polici | true structur issu exact core |
| polici | issu nevertheless thing clear first | polici | increas competit product market includ |
| market | first polici increas competit product | market | includ via global trade negoti |
| global | competit product market includ via | global | trade negoti boost invest especi |
| market | invest studi shown anticompetit product | market | regul lower invest capit accumul |
| countri | regul lower invest capit accumul | countri | germani franc itali publish publish |
| polici | servic reduc regulatori burden beyond | polici | support financ infrastructur invest includ |
| financ | regulatori burden beyond polici support | financ | infrastructur invest includ publicpriv partnership |
| market | partnership effort deepen local capit | market | sourc long term financ issu |
| financ | capit market sourc long term | financ | issu look mdbs also g |
| also | term financ issu look mdbs | also | g australian chairmanship year conclus |
| polici | let conclud despit massiv unpreced | polici | respons crisi past five year |
| polici | remain modest fragil demand support | polici | go far need step suppli |
| need | demand support polici go far | need | step suppli side polici reform |
| polici | far need step suppli side | polici | reform boost invest reinforc recoveri |
| polici | window afford still accommod macroeconom | polici | boost invest growth limit risk |
| growth | accommod macroeconom polici boost invest | growth | limit risk fiscal sustain use |
| also | former manag director michel camdessus | also | moment occas welcom imf chair |
| also | us today mani distinguish guest | also | extend warm welcom lectur heart |
| global | heart fund core mandat overse | global | financi system year mandat evolv |
| global | system year mandat evolv chang | global | condit continu evolv initi lectur |
| need | reflect recent crisi periodlet start | need | reflect recent crisi period take |
| polici | system sway mani assumpt tradit | polici | prescript open crevic rais mountain |
| polici | divert stream central bank monetari | polici | landscap former flat bland usual |
| global | excit sport much attract avid | global | audienc although perhap mani brazil |
| polici | interest today certain imf monetari | polici | central bank come forefront polici |
| polici | polici central bank come forefront | polici | landscap role play fight crisi |
| global | world new normal differ fund | global | membership countri recogn question monetari |
| countri | normal differ fund global membership | countri | recogn question monetari polici central |
| polici | membership countri recogn question monetari | polici | central bank frequent increas complex |
| need | central bank frequent increas complex | need | provid answer offer direct path |
| need | bring second object lectur seri | need | build stronger bridg stake import |
| need | stake import issu central bank | need | reexamin refin modern polici advic |
| polici | bank need reexamin refin modern | polici | advic monetari polici central bank |
| polici | refin modern polici advic monetari | polici | central bank yet task larg |
| econom | effort expertis look big pictur | econom | polici time goal join hand |
| polici | expertis look big pictur econom | polici | time goal join hand central |
| polici | creat space avid fan monetari | polici | engag exchang view meet would |
| econom | price stabil alway suffici greater | econom | stabil central bank financi stabil |
| market | interconnect mani small open emerg | market | economi found challeng deal larg |
| economi | mani small open emerg market | economi | found challeng deal larg swing |
| economi | flow asset price exchang rate | economi | retain monetari polici independ polici |
| polici | exchang rate economi retain monetari | polici | independ polici set tool use |
| polici | economi retain monetari polici independ | polici | set tool use final crisi |
| global | crisi galvan broad effort reform | global | regulatori framework progress various aspect |
| polici | financi system affect function monetari | polici | domest abroad work partner fund |
| polici | fund goal develop clearer concret | polici | view question month ahead start |
| econom | walcott well nobel prize winner | econom | remark arthur lewi also vice |
| also | winner econom remark arthur lewi | also | vice chancellor great legaci wonder |
| countri | great legaci wonder come jamaica | countri | whose cultur truli captiv globe |
| countri | whose cultur truli captiv globe | countri | enchant beauti fresh grace stir |
| countri | futur immens talent put servic | countri | success sure guarante inde feel |
| need | region chang trade lethargi liftoff | need | chang clear caribbean tendenc get |
| growth | get stuck doldrum stagnat low | growth | high debt low competit high |
| countri | competit high unemploy especi true | countri | depend larg tourism like jamaica |
| countri | depend larg tourism like jamaica | countri | growth averag less percent year |
| growth | larg tourism like jamaica countri | growth | averag less percent year sinc |
| countri | percent jamaica recogn pictur appli | countri | region natur resourcebas countri like |
| countri | appli countri region natur resourcebas | countri | like trinidad tobago surinam guyana |
| growth | surinam guyana abl achiev higher | growth | thank stronger commod market countri |
| market | higher growth thank stronger commod | market | countri stagnat trace number factor |
| countri | growth thank stronger commod market | countri | stagnat trace number factor product |
| global | given legaci caribbean vulner go | global | financi crisi hit full forc |
| countri | high almost percent gdp tourismdepend | countri | percent gdp jamaica alway poor |
| need | wake call caribbean leader understand | need | chang free grip crisi adapt |
| global | free grip crisi adapt challeng | global | new normal think global economi |
| global | challeng global new normal think | global | economi interconnect ever engin growth |
| economi | global new normal think global | economi | interconnect ever engin growth shift |
| growth | global economi interconnect ever engin | growth | shift away tradit market north |
| market | engin growth shift away tradit | market | north america europ farflung shore |
| econom | much scream chang begin restor | econom | stabil establish platform rise share |
| growth | jamaica made hard choic get | growth | higher debt lower know hard |
| also | percent increas plan octob jamaica | also | come great innov ownership govern |
| econom | reform program monitor outsid group | econom | program oversight committe drawn stand |
| growth | public purs look much healthier | growth | back economi grew percent yearoveryear |
| economi | look much healthier growth back | economi | grew percent yearoveryear first quarter |
| countri | deficit come see similar sign | countri | navig way difficult reform exampl |
| countri | one third st kitt nevi | countri | growth rebound st kitt nevi |
| growth | third st kitt nevi countri | growth | rebound st kitt nevi exampl |
| growth | lay structur foundat sustain inclus | growth | confid done within power bring |
| economi | adapt chang rememb caribbean shift | economi | base agricultur one base tourism |
| also | leap elud mani other caribbean | also | home highlyeduc highlydriven peopl see |
| also | kamla persadbissessar trinidad tobago caribbean | also | legaci good institut thrive tradit |
| economi | compet vital region small open | economi | reli tourism compet world market |
| market | economi reli tourism compet world | market | mean keep lid product cost |
| also | know jamaica work hard region | also | need invest smart educ train |
| need | jamaica work hard region also | need | invest smart educ train link |
| economi | train link skill peopl skill | economi | need especi import lift prospect |
| need | link skill peopl skill economi | need | especi import lift prospect young |
| also | especi import lift prospect young | also | critic improv busi climat less |
| economi | less hospit caribbean dynam small | economi | includ reel much red tape |
| market | much red tape make labor | market | effect creat job tandem public |
| also | make good progress caribbean would | also | gain greater cooper difficult task |
| market | exampl region approach transport infrastructur | market | tourism might work better countri |
| countri | market tourism might work better | countri | press advantag would revenu countri |
| countri | countri press advantag would revenu | countri | resist temptat compet tax attract |
| global | livelihood even live peril firstord | global | prioriti us global communiti must |
| global | peril firstord global prioriti us | global | communiti must come togeth save |
| global | even though climat chang requir | global | solut certain measur caribbean take |
| economi | caribbean take protect peopl make | economi | resili forc natur start invest |
| need | forc natur start invest infrastructur | need | better withstand natur disast improv |
| economi | program citizen stake success stewardship | economi | nurtur resourc invest peopl partnership |
| econom | communiti nation imf forum intern | econom | cooper noth noth less organ |
| global | help rout nation prosper run | global | prosper bob marley put live |
| econom | one way think imf kind | econom | program oversight committe global scale |
| global | kind econom program oversight committe | global | scale member countri mission global |
| countri | oversight committe global scale member | countri | mission global econom financi stabil |
| global | global scale member countri mission | global | econom financi stabil tri achiev |
| econom | scale member countri mission global | econom | financi stabil tri achiev three |
| polici | stabil tri achiev three way | polici | advic lend capac build start |
| polici | advic lend capac build start | polici | advic goal bring togeth knowledg |
| global | birdsey view see move part | global | economi fit togeth also understand |
| economi | view see move part global | economi | fit togeth also understand import |
| also | part global economi fit togeth | also | understand import listen view engag |
| growth | highlevel confer bring sustain inclus | growth | caribbean held one trinidad one |
| also | jamaica montego bay later year | also | pay special attent need concern |
| need | year also pay special attent | need | concern small state second way |
| countri | billion help eas pain adjust | countri | across world global crisi call |
| global | pain adjust countri across world | global | crisi call global respons believ |
| global | across world global crisi call | global | respons believ imf safeti net |
| econom | play essenti role avoid catastroph | econom | meltdown word found partner countri |
| countri | econom meltdown word found partner | countri | support effort get crisi countri |
| countri | countri support effort get crisi | countri | includ antigua barbuda st kitt |
| also | st kitt nevi jamaica grenada | also | help countri get back feet |
| countri | nevi jamaica grenada also help | countri | get back feet devast natur |
| countri | build technic assist train help | countri | design build strengthen institut make |
| econom | institut make core build block | econom | success sinc crisi broke provid |
| countri | percent heavili involv help caribbean | countri | build capac includ cartac technic |
| countri | strengthen public financi manag system | countri | want make debt sustain abl |
| need | deploy fund prioriti spend area | need | capac manag fund well ultim |
| countri | much critic believ unfair mani | countri | seek help alreadi dire econom |
| econom | countri seek help alreadi dire | econom | strait valid may alway gotten |
| growth | mother today put highest prioriti | growth | job get involv less tradit |
| growth | involv less tradit area matter | growth | stabil tame excess incom inequ |
| also | alway knew imf head appear | also | heart view head need heart |
| need | appear also heart view head | need | heart heart need head much |
| need | view head need heart heart | need | head much els life work |
| countri | come never depart may beauti | countri | remark region bless thank much |
| econom | empower access credit key link | econom | opportun econom outcom empow individu |
| econom | credit key link econom opportun | econom | outcom empow individu famili cultiv |
| econom | outcom empow individu famili cultiv | econom | opportun financi inclus power agent |
| growth | inclus power agent strong inclus | growth | carlo fuent said cultur consist |
| also | separ would add great cultur | also | consist inclus past sever year |
| global | inclus past sever year mexico | global | champion financi inclus presid g |
| also | inclus key pillar mexico agenda | also | mexico maya declar agre set |
| global | mexico maya declar agre set | global | measur commit unlock human potenti |
| countri | made extend financi servic across | countri | number financi institut almost doubl |
| econom | financi inclus import one biggest | econom | stori time reduct poverti around |
| economi | around globe mani lowincom emerg | economi | catch richer nation term per |
| econom | bear brunt poverti limit access | econom | opportun includ unfavor financi access |
| also | opportun includ unfavor financi access | also | larg incom inequ global scale |
| global | access also larg incom inequ | global | scale richest peopl world control |
| global | control much wealth poorest half | global | popul billion peopl inequ access |
| countri | macroeconom issu research tell us | countri | higher inequ tend lower less |
| growth | inequ tend lower less durabl | growth | inequ choke prospect individu realiz |
| growth | empir evid one thing clear | growth | inclus financ inclus poor access |
| financ | one thing clear growth inclus | financ | inclus poor access basic financi |
| also | increas invest includ educ health | also | insur unfavor event therefor avoid |
| financ | especi small new one access | financ | encourag invest new product technolog |
| also | encourag invest new product technolog | also | help expand hire peopl even |
| also | peopl even matur larger scale | also | import gender dimens frank women |
| also | educ manageri experi relat men | also | act barrier financi access women |
| need | allow live full potenti barrier | need | address head reduc poverti increas |
| growth | financi inclus key ingredi inclus | growth | help close gender inequ gap |
| need | sector har technolog adapt consum | need | govern creat enabl environ greater |
| also | greater financi inclus civil societi | also | role play cours provid inform |
| also | highest subsaharan africa similar scheme | also | popular latin america mpesastyl servic |
| need | busi model tailor meet consum | need | matter expand use financi servic |
| countri | matter expand use financi servic | countri | brazil india mexico use bank |
| polici | sector initi howev complement govern | polici | barrier greater financi inclus aris |
| economi | greater financi inclus aris distort | economi | measur interest rate subsidi direct |
| polici | stabil longer run thrust govern | polici | therefor creat enabl environ financi |
| also | product includ tap promis technolog | also | empow consum option choic product |
| also | beyond foster inclus financi innov | also | increas financi depth second creat |
| polici | framework product support financi inclus | polici | grant exempt oner document requir |
| polici | greater financi inclus appropri inform | polici | facilit access bank borrow inform |
| market | mani consum previous exclud financi | market | well manag financi inclus credit |
| also | client expos lender higher risk | also | expos illinform borrow increas risk |
| market | requir balanc opportun innov financi | market | safeguard prevent excess suppli demand |
| market | achiev practic effect consum protect | market | conduct regul key aspect respons |
| financ | conduct regul key aspect respons | financ | agenda consum protect particular import |
| polici | import ensur respons access credit | polici | improv transpar financi market disclosur |
| market | credit polici improv transpar financi | market | disclosur requir also help increas |
| also | transpar financi market disclosur requir | also | help increas inform avail make |
| also | financi servic token financi literaci | also | support respons financi inclus see |
| need | credit young micro entrepreneur often | need | support build capac account record |
| also | respons access credit financi literaci | also | reduc gender gap access financ |
| financ | also reduc gender gap access | financ | especi driver lower educ women |
| also | respons financi choic privat sector | also | scheme banco compartamo mexico made |
| also | made viabl serv lowincom client | also | develop financi educ program product |
| global | ever grow financi flow third | global | popul still financi exclud econom |
| econom | global popul still financi exclud | econom | moral imper reach empow financi |
| polici | financi inclus help support robust | polici | go hand hand financi stabil |
| countri | wellfunct financi system enrich whole | countri | mani come confer bright idea |
| polici | appropri framework societi whole embrac | polici | initi rais financi inclus level |
| growth | key pillar financi develop inclus | growth | togeth world bank region institut |
| countri | bank region institut work mani | countri | region financi sector reform continu |
| countri | today addit enjoy beauti hospit | countri | honor delight particip event rais |
| also | govern mauritius follow word action | also | grate australian chines author support |
| countri | level open ati come time | countri | subsaharan africa face import econom |
| econom | countri subsaharan africa face import | econom | social challeng ati well posit |
| financ | outlook d like thank ministri | financ | ministri econom develop bank mongolia |
| econom | like thank ministri financ ministri | econom | develop bank mongolia world bank |
| econom | legisl branch come togeth discuss | econom | polici option mongolia ensur macroeconom |
| polici | branch come togeth discuss econom | polici | option mongolia ensur macroeconom stabil |
| growth | ensur macroeconom stabil sustain high | growth | futur also opportun hear number |
| also | stabil sustain high growth futur | also | opportun hear number senior policymak |
| countri | opportun hear number senior policymak | countri | share experi suggest us know |
| countri | combin industri peopl larg beauti | countri | strateg locat abund natur resourc |
| countri | first time year ago sinc | countri | achiev remark econom develop fact |
| econom | ago sinc countri achiev remark | econom | develop fact recent year mongolia |
| economi | year mongolia one world fastestgrow | economi | vault rank middleincom countri year |
| countri | fastestgrow economi vault rank middleincom | countri | year growth earlier driven larg |
| growth | vault rank middleincom countri year | growth | earlier driven larg invest mine |
| growth | spearhead larg amount fdi drop | growth | reli increas fiscal monetari stimulus |
| growth | increas fiscal monetari stimulus recent | growth | declin remain rapid intern comparison |
| economi | avoid boombust cycl mani resourcerich | economi | fallen also time help countri |
| also | cycl mani resourcerich economi fallen | also | time help countri accumul save |
| countri | economi fallen also time help | countri | accumul save futur generat sinc |
| polici | question therefor shape overal fiscal | polici | manner consist overal object fiscal |
| need | fiscal framework allow suffici space | need | develop social spend safeguard key |
| polici | increas offbudget fiscal spend monetari | polici | also eas support growth eas |
| also | offbudget fiscal spend monetari polici | also | eas support growth eas suppli |
| growth | monetari polici also eas support | growth | eas suppli bottleneck help broaden |
| polici | bottleneck help broaden home ownership | polici | serv hold growth also contribut |
| growth | home ownership polici serv hold | growth | also contribut rise balanc payment |
| also | ownership polici serv hold growth | also | contribut rise balanc payment pressur |
| polici | push inflat best calibr monetari | polici | achiev object growth low inflat |
| growth | calibr monetari polici achiev object | growth | low inflat extern balanc financi |
| growth | manner key question ask kind | growth | path support kind polici like |
| polici | kind growth path support kind | polici | like deliv countri promis prosper |
| countri | support kind polici like deliv | countri | promis prosper sustain manner minim |
| global | right path must take account | global | outlook potenti spillov mongolia china |
| growth | outlook potenti spillov mongolia china | growth | slow commod demand may soften |
| economi | may soften come year advanc | economi | slowli look toward exit unconvent |
| polici | look toward exit unconvent monetari | polici | risk emerg market economi may |
| market | unconvent monetari polici risk emerg | market | economi may face much difficult |
| economi | monetari polici risk emerg market | economi | may face much difficult turbul |
| global | may face much difficult turbul | global | financi market come year best |
| market | much difficult turbul global financi | market | come year best way mongolia |
| global | rich excel food live discuss | global | event would also like pay |
| also | live discuss global event would | also | like pay tribut undersecretari fernando |
| countri | centuri mexico diego rivera late | countri | similar moment inspir pacto por |
| need | mani farreach structur reform mexico | need | kick growth higher gear slow |
| growth | structur reform mexico need kick | growth | higher gear slow pace percent |
| growth | tackl structur barrier hold back | growth | fact mexico emerg market countri |
| market | back growth fact mexico emerg | market | countri pass number sweep reform |
| countri | growth fact mexico emerg market | countri | pass number sweep reform short |
| econom | polit support perhap impress take | econom | financi crisi invok reform instead |
| market | focus four area labor product | market | financi system energi sector educ |
| growth | hold larg promis unleash mexico | growth | potenti think four pillar first |
| market | four pillar first pillar labor | market | reform go long way boost |
| growth | reform go long way boost | growth | barrier aim protect worker often |
| market | remov barrier inject dynam labor | market | avoid risk lost generat mexico |
| market | new job annual token product | market | reform import boost growth trade |
| growth | product market reform import boost | growth | trade telecom antitrust reform promis |
| economi | use increas export emerg develop | economi | second pillar financi sector reform |
| growth | higher innov job creation inclus | growth | add impress energi sector reform |
| also | new technolog exploit unconvent field | also | improv infrastructur increas effici electr |
| countri | reform signific reduc energi cost | countri | less critic fourth pillar educ |
| need | opportun access basic educ enough | need | high qualiti educ know children |
| economi | transform process build new stronger | economi | process take time diego rivera |
| countri | rivera finish mural patienc essenti | countri | see process end even greater |
| need | cloth shelter tradit thought basic | need | mankind hous sector satisfi essenti |
| need | mankind hous sector satisfi essenti | need | hous also cours import compon |
| also | sector satisfi essenti need hous | also | cours import compon invest mani |
| countri | cours import compon invest mani | countri | hous make largest compon wealth |
| also | stock near percent homeown hous | also | play key role instanc mortgag |
| market | play key role instanc mortgag | market | import transmiss monetari polici adequ |
| polici | mortgag market import transmiss monetari | polici | adequ hous also facilit labor |
| also | transmiss monetari polici adequ hous | also | facilit labor mobil within economi |
| economi | also facilit labor mobil within | economi | help economi adjust advers shock |
| economi | labor mobil within economi help | economi | adjust advers shock short wellfunct |
| economi | hous sector critic overal health | economi | economi develop expect correspond deepen |
| economi | sector critic overal health economi | economi | develop expect correspond deepen growth |
| growth | economi develop expect correspond deepen | growth | hous market despit import howev |
| market | expect correspond deepen growth hous | market | despit import howev hous sector |
| global | bubbl unit state follow deepest | global | downturn sinc great depress remind |
| economi | often detriment financi stabil real | economi | mani major episod bank distress |
| countri | bank hous collaps ate percent | countri | gdp contrast hous cycl boombust |
| economi | financi stabil impact affect real | economi | research show recess oecd countri |
| countri | economi research show recess oecd | countri | like given hous price bust |
| also | given hous price bust recess | also | tend much deeper generat unemploy |
| market | crucial keep eye current hous | market | develop keep go anoth boombust |
| market | boombust cycl detect overvalu hous | market | hous market stand today hous |
| market | detect overvalu hous market hous | market | stand today hous price residenti |
| countri | price residenti invest declin mani | countri | onset great recess sinc rebound |
| global | overal hous price inch imf | global | hous price index increas last |
| countri | seven quarter row past year | countri | index show increas hous price |
| econom | move hous price closer away | econom | fundament one common first pass |
| econom | check whether hous price line | econom | fundament evid show among oecd |
| countri | fundament evid show among oecd | countri | ratio remain well histor averag |
| countri | remain well histor averag major | countri | true instanc australia belgium canada |
| market | evid provid broad indic hous | market | valuat one cannot assess overvalu |
| growth | thus requir supplementari inform credit | growth | household indebted lender characterist method |
| financ | household indebted lender characterist method | financ | potenti indic risk boombust cycl |
| growth | suggest particular import monitor credit | growth | find distinguish featur real estat |
| global | leverag exposur household financi intermediari | global | financi crisi near countri twin |
| countri | intermediari global financi crisi near | countri | twin boom real estat credit |
| market | twin boom real estat credit | market | countri analyz end suffer either |
| countri | boom real estat credit market | countri | analyz end suffer either financi |
| growth | financi crisi sever drop gdp | growth | relat countri precrisi perform contrast |
| countri | sever drop gdp growth relat | countri | precrisi perform contrast seven countri |
| countri | countri precrisi perform contrast seven | countri | experienc real estat boom credit |
| countri | boom two went system crisi | countri | averag relat mild recess imf |
| growth | thus increas pay attent credit | growth | along sever countryspecif featur hous |
| market | along sever countryspecif featur hous | market | recent month imf staff provid |
| market | staff provid detail judgment hous | market | australia israel canada countri broad |
| countri | hous market australia israel canada | countri | broad measur valuat high also |
| also | countri broad measur valuat high | also | provid assess mani emerg market |
| market | also provid assess mani emerg | market | economi asia latin america mortgag |
| economi | provid assess mani emerg market | economi | asia latin america mortgag credit |
| growth | america mortgag credit hous price | growth | remain strong hous price metropolitan |
| polici | countryspecif factor hous cycl suggest | polici | respons cannot one size fit |
| polici | cannot one size fit construct | polici | toolkit let move third last |
| polici | third last part remark role | polici | contain hous boom outset let |
| polici | broader discuss appropri role monetari | polici | new normal mani aspect role |
| polici | activ discuss thing clear monetari | polici | concern financi stabil henc hous |
| market | concern financi stabil henc hous | market | era benign neglect hous price |
| polici | hous sector involv complex set | polici | note economist avinash dixit suggest |
| polici | mip map mop remind set | polici | mip stand microprudenti polici cours |
| polici | set polici mip stand microprudenti | polici | cours aim ensur resili individu |
| polici | ensur resili individu financi institut | polici | necessari sound financi system may |
| also | institut destabil system whole henc | also | need mip map macroprudenti polici |
| need | destabil system whole henc also | need | mip map macroprudenti polici aim |
| polici | also need mip map macroprudenti | polici | aim increas resili system whole |
| economi | household debt limit long use | economi | exampl hong kong sar oper |
| global | ltv limit introduc dti limit | global | financi crisi advanc emerg economi |
| economi | global financi crisi advanc emerg | economi | globe follow exampl hong kong |
| growth | effect cool hous price credit | growth | short run abl break financi |
| need | hous boom fine tune measur | need | macroprudenti measur need take account |
| need | tune measur need macroprudenti measur | need | take account abil market particip |
| market | measur need take account abil | market | particip circumv limit leverag countri |
| countri | market particip circumv limit leverag | countri | canada ltv limit use distinguish |
| economi | heavi exposur sector mani advanc | economi | ireland norway capit adequaci risk |
| also | ltv ratio sector capit requir | also | use number emerg market estonia |
| market | requir also use number emerg | market | estonia peru thailand evid suggest |
| growth | addit buffer abil curb credit | growth | mix imf work suggest higher |
| growth | loan success curb hous price | growth | countri like bulgaria croatia estonia |
| countri | success curb hous price growth | countri | like bulgaria croatia estonia ukrain |
| growth | may less effect contain credit | growth | first bank hold capit well |
| need | well regulatori minimum lender may | need | make chang respons increas risk |
| market | effect second lender compet intens | market | share may intern cost higher |
| also | lend rate macroprudenti tool may | also | effect target hous boom driven |
| need | domest credit intermedi case tool | need | instanc stamp duti impos cool |
| polici | suppli hous along micro macroprudenti | polici | need mop monetari polici often |
| need | hous along micro macroprudenti polici | need | mop monetari polici often said |
| polici | macroprudenti polici need mop monetari | polici | often said use polici interest |
| polici | monetari polici often said use | polici | interest rate blunt tool contain |
| polici | privat credit boom suggest monetari | polici | could import tool mani case |
| polici | tool mani case support macroprudenti | polici | true howev mani relev case |
| polici | howev mani relev case moment | polici | interest rate remain low support |
| econom | interest rate remain low support | econom | recoveri conclus let conclud hous |
| countri | hous boom differ characterist across | countri | time period common bust come |
| economi | often damag financi stabil real | economi | tool contain hous boom still |
| polici | effect start accumul interact various | polici | tool complex excus inact interlock |
| polici | tool might overcom shortcom singl | polici | tool need move benign neglect |
| need | overcom shortcom singl polici tool | need | move benign neglect approach come |
| polici | move benign neglect approach come | polici | choic maintain open dialogu issu |
| polici | dialogu issu gain solid understand | polici | contain hous boom intern coordin |
| also | contain hous boom intern coordin | also | essenti sinc hous boom one |
| countri | essenti sinc hous boom one | countri | fed credit market develop abroad |
| market | boom one countri fed credit | market | develop abroad imf intend part |
| market | intend part mention assess hous | market | becom regular featur countri report |
| countri | hous market becom regular featur | countri | report also report hous market |
| also | becom regular featur countri report | also | report hous market flagship public |
| market | countri report also report hous | market | flagship public world econom outlook |
| econom | hous market flagship public world | econom | outlook global financi stabil report |
| global | flagship public world econom outlook | global | financi stabil report well report |
| global | given home encourag visit new | global | hous watch page imf org |
| also | offer tell us better imf | also | contribut share crosscountri experi regular |
| econom | brussel | econom | foruma prepar deliveryit pleasur brussel |
| also | reflect crisi way forward let | also | pay tribut member panel play |
| polici | exampl set esm enhanc monetari | polici | framework move toward bank union |
| also | govern area much progress evolut | also | frustrat complex implement three simpl |
| need | simpl come eu govern get | need | clear got good right could |
| growth | reform fiscal frameworksinc introduct stabil | growth | pact reform sever time reform |
| also | attent ultim object debt sustain | also | complex make difficult communic public |
| growth | debt percent gdp assum nomin | growth | would percent per year howev |
| growth | howev downward revis nomin longterm | growth | around percent mani euro area |
| countri | around percent mani euro area | countri | suggest debt would instead converg |
| need | difficult communic public number rule | need | cut debt dynam e evolut |
| also | correct action requir case noncompli | also | relat weak reflect inabl center |
| financ | polit difficult question europeanlevel project | financ | difficult polit question doesn mean |
| growth | euro area serious implic potenti | growth | thus debt sustain separ bank |
| market | bank capit still constrain capit | market | develop go long way toward |
| growth | corpor see lot potenti support | growth | rout final wordi realiz issu |
| countri | mani issu euro area member | countri | look forward contribut progress area |
| also | progress area ahead thank see | also | allard other toward fiscal union |
| polici | paper reassess scope modal fiscal | polici | advanc economi |
| economi | scope modal fiscal polici advanc | economi | |
| econom | intern | econom | forum americasa prepar deliverygood afternoon |
| also | rector breton eloqu remark would | also | like thank couillard gil rà |
| global | pleasur today compani emin leader | global | communiti year intern econom forum |
| econom | leader global communiti year intern | econom | forum america serv uniqu platform |
| global | behind us inevit confront much | global | landscap chang mean futur growth |
| growth | global landscap chang mean futur | growth | crisi uncov fallaci inher exist |
| growth | crisi uncov fallaci inher exist | growth | model left us legaci continu |
| global | left us legaci continu weigh | global | prospect surpris policymak rang canada |
| growth | china germani mexico revisit ingredi | growth | strategi driver next era growth |
| growth | growth strategi driver next era | growth | make recoveri stronger balanc inclus |
| polici | thing know sure without bold | polici | action world could slip year |
| growth | slip year slow subpar jobless | growth | share thought global economi let |
| global | subpar jobless growth share thought | global | economi let invok spirit hockey |
| economi | jobless growth share thought global | economi | let invok spirit hockey canada |
| global | end penalti shoot micklethwait state | global | economylet start global economi view |
| global | micklethwait state global economylet start | global | economi view top row rink |
| economi | state global economylet start global | economi | view top row rink see |
| global | row rink see encourag sign | global | economi turn corner great recess |
| economi | rink see encourag sign global | economi | turn corner great recess overal |
| econom | great recess overal prospect improv | econom | activ gain momentum despit bumpi |
| economi | expect expans percent percent advanc | economi | final strengthen growth expect percent |
| growth | percent advanc economi final strengthen | growth | expect percent year even though |
| market | though recoveri remain uneven emerg | market | develop economi continu provid bulk |
| economi | remain uneven emerg market develop | economi | continu provid bulk global growth |
| global | develop economi continu provid bulk | global | growth albeit slower pace still |
| growth | economi continu provid bulk global | growth | albeit slower pace still expect |
| economi | concern cloud horizon first advanc | economi | emerg risk lowflat particular euro |
| growth | inflat derail incipi recoveri suppress | growth | job recent proactiv stanc ecb |
| market | encourag will necessari second emerg | market | economi risk renew market volatil |
| economi | will necessari second emerg market | economi | risk renew market volatil rise |
| market | emerg market economi risk renew | market | volatil rise financi instabl associ |
| polici | bank essenti continu strong focus | polici | fundament emerg market also remain |
| market | strong focus polici fundament emerg | market | also remain key third risk |
| also | focus polici fundament emerg market | also | remain key third risk various |
| need | support beyond concern cours still | need | fix problem us time crisi |
| countri | peopl high level debt mani | countri | need complet financi reform agenda |
| need | high level debt mani countri | need | complet financi reform agenda mani |
| countri | complet financi reform agenda mani | countri | also need implement structur reform |
| also | financi reform agenda mani countri | also | need implement structur reform boost |
| need | reform agenda mani countri also | need | implement structur reform boost growth |
| growth | need implement structur reform boost | growth | particular labor servic market greater |
| market | boost growth particular labor servic | market | greater infrastructur invest progress area |
| global | work remain done bottom line | global | activ gain momentum recoveri remain |
| growth | state canada major trade partner | growth | earli lost earlier momentum part |
| econom | spring said meaning rebound u | econom | activ underway expect growth exceed |
| growth | u econom activ underway expect | growth | exceed potenti next quarter driven |
| polici | under momentum strengthen support monetari | polici | stronger invest yet ambiti structur |
| need | concret mediumterm fiscal plan still | need | growth sustain euro area also |
| growth | mediumterm fiscal plan still need | growth | sustain euro area also emerg |
| also | need growth sustain euro area | also | emerg recess although growth stronger |
| growth | area also emerg recess although | growth | stronger core weaker south europ |
| econom | come long way profound chang | econom | architectur critic follow complet reform |
| market | reform especi bank union emerg | market | develop economi import pillar support |
| economi | bank union emerg market develop | economi | import pillar support global activ |
| global | develop economi import pillar support | global | activ crisi playmak world like |
| growth | spot push ahead world highest | growth | rate around  ¾ percent |
| countri | subsaharan africa return mani african | countri | manag weather crisi well sustain |
| growth | untap potenti natur human forecast | growth | continu well rise africa also |
| also | growth continu well rise africa | also | need watch countri rapid debt |
| need | continu well rise africa also | need | watch countri rapid debt accumul |
| countri | rise africa also need watch | countri | rapid debt accumul eros fiscal |
| need | eros fiscal space pose risk | need | manag latin america despit modest |
| growth | america despit modest acceler activ | growth | expect remain lower gear rise |
| growth | Â ½ percent percent cours | growth | dynam vari wide across larger |
| economi | dynam vari wide across larger | economi | mexico exampl expect benefit stronger |
| growth | exampl expect benefit stronger u | growth | brazil low confid seem like |
| countri | recent even though situat sever | countri | remain difficult extrem encourag spirit |
| polici | imf clear way forward canada | polici | next era growthso hockey game |
| growth | third topic foundat next era | growth | key element strategi drive puck |
| countri | puck goal clear major challeng | countri | includ canada make growth stronger |
| growth | challeng countri includ canada make | growth | stronger inclus greener difficult complic |
| countri | onesizefitsal solut across world mani | countri | tri rebal economi toward stabl |
| economi | world mani countri tri rebal | economi | toward stabl sourc growth china |
| growth | rebal economi toward stabl sourc | growth | china tri rebal away invest |
| also | boost domest sourc demand canada | also | rebalanc economi consumpt hous toward |
| economi | sourc demand canada also rebalanc | economi | consumpt hous toward export busi |
| growth | export busi invest key driver | growth | last year first time sinc |
| growth | sinc contribut net export overal | growth | turn posit perform nonenergi export |
| growth | remain weak look forward expect | growth | pick  ¼ percent continu |
| polici | boost canada export busi invest | polici | sustain acceler activ monetari polici |
| polici | polici sustain acceler activ monetari | polici | support demand recoveri cement fiscal |
| polici | support demand recoveri cement fiscal | polici | strike right balanc prop growth |
| growth | polici strike right balanc prop | growth | rebuild fiscal space moreov canada |
| need | larg prospect canada yet prospect | need | unleash see two prioriti first |
| growth | would allow canada tap favor | growth | dynam region beyond north america |
| market | infrastructur constraint imf estim full | market | access canada energi product could |
| need | gdp percent year horizon cours | need | watch expans detriment environ imf |
| also | cover direct cost suppli energi | also | environment extern associ product use |
| countri | pioneer area could done canada | countri | emphas book publish week second |
| growth | book publish week second prioriti | growth | energi sector need becom inclus |
| need | second prioriti growth energi sector | need | becom inclus contribut economi broaden |
| economi | sector need becom inclus contribut | economi | broaden benefit wide share stronger |
| economi | stronger linkag energi sector broader | economi | certain help remov barrier intern |
| also | live resourcerich area product could | also | get boost measur moreov action |
| economi | action front import prosper canadian | economi | entir region expans north american |
| growth | potenti score goal next era | growth | ahead conclusionlet conclud hope stay |
| countri | stay within regul time member | countri | chang face crisi imf three |
| global | past focus provid effect forum | global | econom financi cooper cooper import |
| econom | focus provid effect forum global | econom | financi cooper cooper import hockey |
| countri | team attest team work key | countri | implement right set polici domest |
| polici | key countri implement right set | polici | domest welfar whole world get |
| global | estim suggest cooper action increas | global | output percent next five year |
| growth | togeth lay foundat next era | growth | someth canada staunch support multilater |
| need | effort establish un peac keeper | need | action end crisi fight make |
| econom | amartya sen alway understood concern | econom | close relat concern justic fair |
| econom | justic fair follow footstep great | econom | thinker past today especi wake |
| global | thinker past today especi wake | global | crisi member profess ask kind |
| econom | prophet voic right call conscienc | econom | tonight topic want talk sit |
| econom | want talk sit intersect justic | econom | issu empower empower econom opportun |
| econom | justic econom issu empower empower | econom | opportun abil freeli choos one |
| countri | risen substanti recent year mani | countri | wealthi take home greater share |
| econom | america subsaharan africa make great | econom | progress momentum still held back |
| financ | decent nutrit healthcar educ skill | financ | creat vicious cycl wherebi econom |
| econom | financ creat vicious cycl wherebi | econom | insecur caus peopl invest littl |
| also | bit much wallet unequ societi | also | find lower level content find |
| also | inequ hinder individu empower surpris | also | hinder sustain econom growth result |
| econom | empower surpris also hinder sustain | econom | growth result recent imf research |
| growth | surpris also hinder sustain econom | growth | result recent imf research believ |
| polici | result recent imf research believ | polici | tame excess incom inequ winwin |
| econom | care chosen calibr spur empower | econom | advanc think polici like boost |
| polici | spur empower econom advanc think | polici | like boost spend health educ |
| market | spend health educ activ labor | market | polici inwork benefit let say |
| polici | health educ activ labor market | polici | inwork benefit let say word |
| need | agent empower world stark inequ | need | make educ access want point |
| econom | empow peopl better understand engag | econom | polici decis affect live gender |
| polici | peopl better understand engag econom | polici | decis affect live gender dispar |
| global | close heart professor sen know | global | women earn threequart much men |
| econom | less dollar day first submerg | econom | crisi women also lock leadership |
| also | first submerg econom crisi women | also | lock leadership posit gender seem |
| need | women underutil underpaid underappreci overexploit | need | chang yes matter justic also |
| also | need chang yes matter justic | also | matter basic econom amartya sen |
| econom | matter justic also matter basic | econom | amartya sen play pioneer role |
| also | empower boil educ women educ | also | shower benefit societi whole evid |
| econom | oppos percent men true women | econom | particip women ultim agent aggreg |
| global | agent aggreg demand account percent | global | consum spend elimin gender gap |
| polici | south asia percent imf recommend | polici | boost women particip place like |
| economi | visibl enough fundament shortcut vibrant | economi | must built bottom empower everi |
| economi | thicket institut govern structur run | economi | institut matter depend design help |
| econom | subset institut one contribut direct | econom | wellb provid strong framework fiscal |
| polici | wellb provid strong framework fiscal | polici | monetari polici financi sector oversight |
| polici | strong framework fiscal polici monetari | polici | financi sector oversight without good |
| polici | area without capabl peopl behind | polici | ineffect avenu empower block use |
| need | sen languag want better capabl | need | better capac let talk imf |
| global | context probabl know mandat imf | global | econom financi stabil might know |
| econom | probabl know mandat imf global | econom | financi stabil might know one |
| countri | main way fulfil mandat help | countri | design build strengthen institut technic |
| global | institut technic assist train act | global | conduit share knowledg knowhow put |
| countri | knowledg knowhow put simpli help | countri | help empower overal devot quarter |
| countri | build sinc provid train member | countri | technic assist percent lowincom lowermiddl |
| countri | assist percent lowincom lowermiddl incom | countri | receiv twothird technic assist half |
| econom | financi sector oversight enhanc qualiti | econom | statist cours imf alon mani |
| also | includ world bank sister institut | also | wonder work area help peopl |
| financ | way respect agenc generous donor | financ | make much work possibl countri |
| countri | financ make much work possibl | countri | exampl rather talk general term |
| economi | univers neuter travel restrict recent | economi | poor integr wider world central |
| financ | world central bank part ministri | financ | budget process antiqu lot data |
| market | restrict establish function foreign exchang | market | provid assist core area like |
| econom | tax administr financi sector oversight | econom | statist help myanmar awaken hum |
| countri | san suu kyi said thing | countri | must foundat place achiev econom |
| econom | countri must foundat place achiev | econom | liftoff understood import boost tax |
| need | spend health educ infrastructur understood | need | build modern financi sector peopl |
| countri | could tell similar stori countless | countri | cambodia exampl help put place |
| need | bed instead bank yet cambodia | need | thrive financi system rural develop |
| market | remark progress build foundat modern | market | economi handson technic assist train |
| economi | progress build foundat modern market | economi | handson technic assist train kosovo |
| polici | central bank nut bolt monetari | polici | could also talk peru one |
| also | nut bolt monetari polici could | also | talk peru one world fastestgrow |
| economi | talk peru one world fastestgrow | economi | peru leap ahead yet capac |
| financ | strengthen tax collect manag public | financ | mean spend vital social program |
| also | get access healthcar educ could | also | mention arab transit countri citizen |
| countri | could also mention arab transit | countri | citizen seek empow timetest principl |
| countri | like opportun imparti digniti help | countri | build econom foundat new societi |
| econom | imparti digniti help countri build | econom | foundat new societi core area |
| polici | new societi core area tax | polici | administr financi sector reform monetari |
| polici | administr financi sector reform monetari | polici | capit market statist ground includ |
| market | sector reform monetari polici capit | market | statist ground includ region technic |
| countri | underappreci stori time mani african | countri | bless bounti natur resourc know |
| countri | theme confer provid assist area | countri | like kenya mozambiqu tanzania much |
| need | peopl depend fundament empower institut | need | subject account transpar imparti global |
| global | need subject account transpar imparti | global | economi becom intric interconnect institut |
| economi | subject account transpar imparti global | economi | becom intric interconnect institut peopl |
| need | intric interconnect institut peopl behind | need | keep chang need continu empower |
| need | peopl behind need keep chang | need | continu empower institut across entir |
| countri | across entir spectrum membership poorer | countri | empower multilater bring third area |
| global | basic way today challeng increas | global | challeng empower today depend happen |
| countri | challeng empower today depend happen | countri | happen wider world know vision |
| global | know vision reson lse truli | global | reach global mental see room |
| global | reson lse truli global reach | global | mental see room live world |
| global | dens intric web interconnect run | global | economi trade financ technolog communic |
| economi | intric web interconnect run global | economi | trade financ technolog communic come |
| financ | interconnect run global economi trade | financ | technolog communic come apart due |
| global | toward divers geograph region divers | global | stakehold tribal mental care tension |
| global | lead indecis impass insecur time | global | economi face huge threat sustain |
| economi | indecis impass insecur time global | economi | face huge threat sustain threat |
| global | oblig narrow inde peril modern | global | economi hunker behind close door |
| economi | narrow inde peril modern global | economi | hunker behind close door erect |
| also | enhanc capabl mean enhanc capac | also | mean enhanc cooper charl dicken |
| global | postwar multilater moment nation put | global | good narrow interest take bet |
| countri | alreadi role play imf help | countri | build capac also play key |
| also | imf help countri build capac | also | play key role global conven |
| global | capac also play key role | global | conven cooper bring togeth countri |
| countri | global conven cooper bring togeth | countri | share knowledg collabor toward common |
| need | help hand one anoth time | need | instrument collabor develop format year |
| global | date make fulli repres current | global | econom realiti work mission yet |
| econom | make fulli repres current global | econom | realiti work mission yet accomplish |
| also | work mission yet accomplish yet | also | need go toward call new |
| need | mission yet accomplish yet also | need | go toward call new multilater |
| also | engag emerg power across globe | also | expand network coalit deepli embed |
| global | network coalit deepli embed fabric | global | economi need invest kind global |
| economi | coalit deepli embed fabric global | economi | need invest kind global social |
| need | deepli embed fabric global economi | need | invest kind global social capit |
| global | global economi need invest kind | global | social capit need develop idea |
| need | invest kind global social capit | need | develop idea global civil societi |
| global | social capit need develop idea | global | civil societi one provid space |
| global | provid space voic take broad | global | perspect adopt genuin longterm vision |
| econom | hope guid us star realli | econom | empower freedom digniti opportun must |
| polici | help let peopl lift enabl | polici | enabl institut enabl mode intern |
| polici | welcom th annual intern confer | polici | challeng financi sector pleas imf |
| also | host confer welcom premis let | also | emphas import partnership world bank |
| also | held yesterday feder reserv board | also | opportun us renew commit advanc |
| global | go forward titl year confer | global | financi sector reform five year |
| growth | public trust financi sector engin | growth | benefit know commit import topic |
| economi | crisi world citizen impact real | economi | began bank troubl end increas |
| econom | increas unemploy rise bankruptci weaken | econom | growth econom activ advanc economi |
| growth | unemploy rise bankruptci weaken econom | growth | econom activ advanc economi improv |
| econom | rise bankruptci weaken econom growth | econom | activ advanc economi improv albeit |
| economi | econom growth econom activ advanc | economi | improv albeit vari speed activ |
| market | albeit vari speed activ emerg | market | economi slow pick slight latter |
| economi | vari speed activ emerg market | economi | slow pick slight latter part |
| economi | part driven stronger demand advanc | economi | mani lowincom countri bright spot |
| countri | demand advanc economi mani lowincom | countri | bright spot asia subsaharan africa |
| need | short modest fragil recoveri underway | need | focus sustain growth need look |
| growth | recoveri underway need focus sustain | growth | need look obstacl growth current |
| need | underway need focus sustain growth | need | look obstacl growth current see |
| growth | sustain growth need look obstacl | growth | current see three main risk |
| economi | prolong period low inflat advanc | economi | suppress demand output suppress growth |
| growth | economi suppress demand output suppress | growth | job henc monetari eas need |
| need | growth job henc monetari eas | need | key jurisdict context strong welcom |
| economi | indic will necessari second emerg | economi | face heighten market volatil associ |
| market | second emerg economi face heighten | market | volatil associ taper quantit eas |
| need | communic unwind unconvent monetari support | need | strong polici respons emerg economi |
| polici | unconvent monetari support need strong | polici | respons emerg economi like best |
| economi | need strong polici respons emerg | economi | like best safeguard turbul final |
| global | rise geopolit tension could cloud | global | econom outlook situat ukrain one |
| econom | geopolit tension could cloud global | econom | outlook situat ukrain one well |
| polici | spillov implic resolv requir good | polici | good polit essenti enabl global |
| global | polici good polit essenti enabl | global | economi move higher gear modest |
| economi | good polit essenti enabl global | economi | move higher gear modest fragil |
| growth | recoveri underway reach goal return | growth | mediumterm growth sustain broad share |
| growth | reach goal return growth mediumterm | growth | sustain broad share borrow analog |
| econom | health fund focus task use | econom | polici choic return growth miracl |
| polici | fund focus task use econom | polici | choic return growth miracl cure |
| growth | use econom polici choic return | growth | miracl cure recommend calibr fiscal |
| polici | calibr fiscal structur reform monetari | polici | aid growth also focus financi |
| growth | structur reform monetari polici aid | growth | also focus financi sector role |
| also | reform monetari polici aid growth | also | focus financi sector role restor |
| growth | focus financi sector role restor | growth | restor invest credit exampl addit |
| global | credit exampl addit activ particip | global | regulatori reform discuss stabil financi |
| also | integr part annual bilater surveil | also | look close stabil financi sector |
| global | sinc london pittsburgh g summit | global | regulatori communiti made consider progress |
| polici | progress complet reform agenda mani | polici | recommend rule make implement stage |
| global | capit standard underway major jurisdict | global | bank alreadi compli framework identifi |
| global | framework identifi appli higher standard | global | system import bank gsib complet |
| also | implement intern standard capit liquid | also | help level play field reduc |
| global | studi bis basel show larg | global | bank still enjoy toobigtofail premium |
| market | bank still enjoy toobigtofail premium | market | assum bail taxpay need complet |
| need | premium market assum bail taxpay | need | complet remain work resolut framework |
| also | framework revers big fail percept | also | work data gather supervis nonbank |
| market | data gather supervis nonbank deriv | market | shadow bank supervis need pursu |
| need | deriv market shadow bank supervis | need | pursu vigor particular market import |
| market | supervis need pursu vigor particular | market | import like unit state similar |
| market | manipul foreign exchang refer rate | market | tibor libor misconduct financi institut |
| also | ambiti unpreced scale financi crisi | also | unpreced one remark aspect agenda |
| countri | one remark aspect agenda willing | countri | work togeth cooper agre intern |
| need | treatment may face ill futur | need | work togeth address aris come |
| econom | financi sector cannot function engin | econom | growth need finish start crisi |
| growth | sector cannot function engin econom | growth | need finish start crisi hit |
| need | cannot function engin econom growth | need | finish start crisi hit home |
| need | finish start crisi hit home | need | complet task see reform agenda |
| global | effect implement imf continu support | global | effort complet reform react swift |
| need | spoke issu said restor trust | need | shift toward greater integr account |
| growth | exceed part world help propel | growth | make region one dynam world |
| polici | region invest outlook affect monetari | polici | decis within outsid region normal |
| polici | within outsid region normal monetari | polici | u initi wind fed bond |
| global | fund rate expect lead higher | global | interest rate rebalanc invest portfolio |
| global | rate rebalanc invest portfolio howev | global | real interest rate increas current |
| econom | level analysi imf recent world | econom | outlook conclud longterm real rate |
| global | earli reflect major persist chang | global | save invest behavior includ larg |
| market | behavior includ larg save emerg | market | increas demand safe asset lower |
| economi | asset lower invest activ advanc | economi | sinc global financi crisi real |
| global | invest activ advanc economi sinc | global | financi crisi real interest rate |
| growth | real interest rate remain gdp | growth | rate increas debtfinanc public invest |
| polici | flow volatil period u monetari | polici | normal emerg market strive rebuild |
| market | u monetari polici normal emerg | market | strive rebuild fiscal space affect |
| financ | deficit would reduc crowd free | financ | privat sector invest u tighten |
| growth | pursu accommod polic rais mediumterm | growth | prospect bank japan quantit qualit |
| also | expect foster higher invest japan | also | creat new invest opportun asian |
| countri | creat new invest opportun asian | countri | export japan alreadi evid step |
| countri | fdi outflow japan sever asean | countri | domest intern polit uncertainti tension |
| countri | elect polit calendar sever asian | countri | other polit tension dampen investor |
| global | polit tension dampen investor sentiment | global | region geopoliticallyrel disrupt could transmit |
| need | exclud china face larg infrastructur | need | accord estim need could reach |
| need | larg infrastructur need accord estim | need | could reach larg us trillion |
| growth | comparison inadequ infrastructur act bottleneck | growth | could caus countri becom stuck |
| countri | act bottleneck growth could caus | countri | becom stuck middleincom trap emerg |
| also | emerg asia burgeon middl call | also | present enorm invest potenti meet |
| growth | difficult tradeoff invest support futur | growth | respond press social need context |
| need | futur growth respond press social | need | context publicpriv partnership viabl strategi |
| also | clear identifi well manag asia | also | face signific demograph divid popul |
| economi | loom china sever advanc asian | economi | includ japan korea emerg asian |
| economi | includ japan korea emerg asian | economi | continu enjoy signific demograph dividend |
| countri | work age popul general speak | countri | older popul tend net saver |
| also | consumpt howev rang macroeconom factor | also | like influenc save behavior demograph |
| also | influenc save behavior demograph consider | also | impact invest demand countri shrink |
| countri | consider also impact invest demand | countri | shrink workforc tend rise capitallabor |
| economi | declin margin return invest similar | economi | expand workforc expect invest return |
| economi | expect invest return grow suggest | economi | relat abund physic capit would |
| economi | physic capit would wish invest | economi | labor relat plenti hand physic |
| need | effici alloc meet region invest | need | within across border also avoid |
| also | invest need within across border | also | avoid boom bust cycl key |
| financ | cross border link longer durat | financ | vehicl avoid misalloc resourc would |
| econom | process financi integr context asean | econom | communiti help ensur realiz east |
| econom | opportun continu support dynam sustain | econom | growth look forward discuss today |
| growth | continu support dynam sustain econom | growth | look forward discuss today trust |
| also | discuss today trust benefit room | also | peopl asia thank |
| growth | decad mozambiqu post one fastest | growth | rate subsaharan region averag percent |
| econom | expect fruit year institutionbuild sound | econom | manag recent discoveri natur resourc |
| growth | uniqu opportun build gain make | growth | inclus african proverb say want |
| polici | work togeth provid financi support | polici | advic also support mozambiqu reform |
| also | provid financi support polici advic | also | support mozambiqu reform agenda steppedup |
| countri | still much done contin divers | countri | risk left behind especi face |
| growth | face recur conflict other rapid | growth | yet wide share across popul |
| econom | mani african fail see fruit | econom | success spirit would like share |
| polici | longerterm challeng emerg iii key | polici | prioriti address challeng help deliv |
| global | decad show remark resili face | global | financi crisi econom stabil paid |
| econom | resili face global financi crisi | econom | stabil paid twothird countri region |
| countri | crisi econom stabil paid twothird | countri | region enjoy ten year uninterrupt |
| growth | region enjoy ten year uninterrupt | growth | growth deliv educ popul signific |
| growth | enjoy ten year uninterrupt growth | growth | deliv educ popul signific declin |
| economi | grow invest destin advanc emerg | economi | record billion inflow expect year |
| economi | expect year inde surpris frontier | economi | kenya uganda botswana challeng old |
| growth | loud africa lion yet tide | growth | lift boat poverti remain stuck |
| countri | region household inequ remain high | countri | still face recur intern conflict |
| global | africa success journey truli remark | global | crisi taught us anyth import |
| growth | us anyth import make benefit | growth | broad share everyon benefit growth |
| growth | growth broad share everyon benefit | growth | durabl year imf close partner |
| countri | lend instrument increas access flexibl | countri | need extend zerointerest polici streamlin |
| need | instrument increas access flexibl countri | need | extend zerointerest polici streamlin condit |
| polici | flexibl countri need extend zerointerest | polici | streamlin condit tailor polici advic |
| polici | zerointerest polici streamlin condit tailor | polici | advic better address specif challeng |
| countri | grow percent year next poorest | countri | even faster close percent must |
| global | firm eye go beyond horizon | global | even world turn corner great |
| growth | cloud three main worri slower | growth | advanc economi particular emerg market |
| economi | main worri slower growth advanc | economi | particular emerg market economi major |
| market | growth advanc economi particular emerg | market | economi major trade partner africa |
| economi | advanc economi particular emerg market | economi | major trade partner africa ii |
| market | extern financi condit potenti increas | market | volatil monetari polici normal policymak |
| polici | potenti increas market volatil monetari | polici | normal policymak doubt hand full |
| polici | know imf stand readi help | polici | advic technic assist need financi |
| need | help polici advic technic assist | need | financi support longerterm challengesbeyond immedi |
| econom | capit product sector offer unrival | econom | social opportun take full advantag |
| global | offer great possibl help support | global | integr improv product foster inclus |
| growth | challeng climat chang sustain demand | growth | press sustain natur resourc exacerb |
| polici | exacerb inequ exclus challeng implement | polici | foster growth turn inclus environment |
| growth | exclus challeng implement polici foster | growth | turn inclus environment sustain build |
| polici | environment sustain build futur three | polici | prioritiesso polici prioriti ensur challeng |
| polici | build futur three polici prioritiesso | polici | prioriti ensur challeng becom opportun |
| countri | huge cost busi peopl mani | countri | region take encourag step close |
| also | cà ´ te d ivoir | also | initi region infrastructur project electr |
| growth | road railroad network invest critic | growth | sustain broaden high qualiti infrastructur |
| need | close infrastructur gap daunt invest | need | region estim billion annual case |
| need | annual case invest larg upfront | need | care select manag implement within |
| countri | fund help work mani member | countri | capac build center ontheground technic |
| countri | debt manag capac help put | countri | much better posit take advantag |
| financ | better posit take advantag increas | financ | option build institutionslet turn second |
| polici | option build institutionslet turn second | polici | prioriti build institut mean govern |
| econom | institut mean govern transpar sound | econom | framework talk foundat build think |
| econom | manag endow offer unparallel opportun | econom | growth develop moreov resourc instrument |
| growth | endow offer unparallel opportun econom | growth | develop moreov resourc instrument reliev |
| countri | talk yet let frank mani | countri | rent extract industri captur mine |
| economi | revenu job creation corrod fabric | economi | social cohes done strengthen institut |
| countri | ensur resourc har benefit mani | countri | taken step direct exampl sierra |
| also | cà ´ te d ivoir | also | implement new legal framework mine |
| need | ensur function effect effici institut | need | let peopl bring third prioriti |
| growth | region fulli captur dividend popul | growth | estim one percentag point increas |
| growth | work age popul boost gdp | growth | percentag point huge happen howev |
| need | huge happen howev good job | need | creat privat sector today one |
| also | product low incom low prospect | also | know constraint access educ credit |
| market | know constraint access educ credit | market | gain made overcom constraint immens |
| econom | immens particular girl educ estim | econom | loss develop countri educ gap |
| countri | educ estim econom loss develop | countri | educ gap girl boy could |
| econom | invest women great rate return | econom | social futur conclusionlet conclud wit |
| economi | five year ago tanzania africa | economi | challeng global economi face sever |
| global | ago tanzania africa economi challeng | global | economi face sever crisi sinc |
| economi | tanzania africa economi challeng global | economi | face sever crisi sinc great |
| polici | challeng signific overcom sustain strong | polici | econom social time go work |
| econom | signific overcom sustain strong polici | econom | social time go work togeth |
| growth | togeth toward inclus jobrich sustain | growth | strategi time extend gain mani |
| countri | strategi time extend gain mani | countri | enjoy left behind help overcom |
| polici | afternoon m delight confer monetari | polici | postfinanci crisi era think agre |
| economi | grappl near two decad guid | economi | aftermath major financi collaps learn |
| polici | combat deflat aftermath bank crisi | polici | rate stuck close zero lower |
| polici | two decad latest innov boj | polici | framework quantit qualit monetari eas |
| econom | gentl declin price major impact | econom | perform dynam impli decis earli |
| econom | assur deflationari period one profound | econom | chang make task durabl exit |
| market | interact forc asset good labor | market | creat propens moder deflat balanc |
| economi | crisi contribut defici demand push | economi | low inflat deflat usual understand |
| economi | usual understand deflat work way | economi | start notion environ fall price |
| global | evid bar brief run prior | global | financi crisi privat nonresidenti invest |
| need | price declin reason invest fell | need | adjust real estat bubbl certain |
| also | period deflat declin privat invest | also | associ less risktak financi sector |
| market | risk avers manifest chang labor | market | well face diminish growth prospect |
| growth | labor market well face diminish | growth | prospect firm reluct hire worker |
| polici | nomin spend time monetari fiscal | polici | respons long deflationagainst difficult backdrop |
| global | monetari side start late aftermath | global | crisi boj provid polici support |
| polici | aftermath global crisi boj provid | polici | support various mean cut polici |
| polici | polici support various mean cut | polici | rate zero lower bound experi |
| need | asset purchas hindsight experi point | need | clear communic regard end object |
| polici | regard end object consist implement | polici | eas toward goal also spotlight |
| also | implement polici eas toward goal | also | spotlight difficult central bank stimul |
| also | argu balanc sheet problem deleverag | also | blunt effect activist fiscal polici |
| polici | also blunt effect activist fiscal | polici | respons onset deflat view fiscal |
| financ | demograph chang start weigh public | financ | main reason larg averag deficit |
| polici | deficit percent gdp decad expansionari | polici | time deliv posit fiscal impuls |
| polici | differ clearer articul effect monetari | polici | depend complementari fiscal structur reform |
| growth | complementari fiscal structur reform lift | growth | expect generat increas nomin spend |
| need | expect generat increas nomin spend | need | support price momentum qqe taken |
| polici | correct emphas complementari fiscal structur | polici | bolster monetari effort fight deflat |
| polici | effort fight deflat concert aggress | polici | action pronounc immedi effect last |
| polici | specifi target percent inflat emphas | polici | accommod maintain achiev stabl manner |
| also | broad lessonsther lesson pertain qqe | also | countri japan current face deflat |
| countri | lessonsther lesson pertain qqe also | countri | japan current face deflat risk |
| global | euro area instanc slow recov | global | financi crisi although proactiv aggress |
| econom | percent still uncomfort low moreov | econom | condit euro area mirror japan |
| growth | ampl slack amid low employ | growth | context assess acut deflationari risk |
| polici | boj boj new monetari framework | polici | commit think well understood avail |
| economi | histor experi effort disinfl advanc | economi | show expect slow adjust nevertheless |
| market | adjust nevertheless would suggest gap | market | mediumterm inflat forecast forecast boj |
| polici | mediumterm inflat forecast forecast boj | polici | board member indic communic strategi |
| need | bank top leadership team may | need | refin regard boj could draw |
| growth | risk capit boost invest new | growth | area howev point without complementari |
| polici | point without complementari fiscal structur | polici | monetari polici alon may suffici |
| polici | complementari fiscal structur polici monetari | polici | alon may suffici decis shift |
| growth | alon may suffici decis shift | growth | expect lift nomin spend manner |
| growth | japan effort end deflat reviv | growth | often critic lack suffici coordin |
| growth | demand manag structur reform concret | growth | fiscal strategi even critic support |
| polici | decis mandat take issu member | polici | action lead spillov may signific |
| global | lead spillov may signific impact | global | system even action undertaken pursu |
| polici | approach depreci yen judgment base | polici | approach fulfil three requir first |
| countri | yen may advers impact neighbor | countri | rest world polici approach must |
| polici | impact neighbor countri rest world | polici | approach must temporari natur commit |
| need | inflat target achiev third japan | need | accompani qqe polici support reflat |
| polici | third japan need accompani qqe | polici | support reflat arrow abenom avoid |
| global | escap deflat meaning posit spillov | global | economi medium term one need |
| economi | deflat meaning posit spillov global | economi | medium term one need imagin |
| need | global economi medium term one | need | imagin japan quick escap deflat |
| econom | fifteen year ago regist improv | econom | perform sinc see point clear |
| also | initi conven today event would | also | like recogn great civic leader |
| market | capit trust opportun reward within | market | economi allow everyon talent flourish |
| economi | trust opportun reward within market | economi | allow everyon talent flourish certain |
| also | compens led massiv destruct valu | also | associ high unemploy rise social |
| economi | call trust lifeblood modern busi | economi | yet world network ever trust |
| growth | trust first foremost make sure | growth | inclus rule game lead level |
| econom | talk two dimens quest inclus | econom | growth integr financi system inclus |
| growth | two dimens quest inclus econom | growth | integr financi system inclus econom |
| econom | growth integr financi system inclus | econom | growthlet begin econom inclus one |
| econom | system inclus econom growthlet begin | econom | inclus one lead econom stori |
| econom | begin econom inclus one lead | econom | stori time rise incom inequ |
| global | inequ dark shadow cast across | global | economi fact familiar sinc richest |
| economi | dark shadow cast across global | economi | fact familiar sinc richest percent |
| countri | richest percent increas share incom | countri | data us share incom taken |
| global | control much wealth poorest half | global | popul billion peopl fact like |
| also | group normal focus social justic | also | increas among politician central banker |
| countri | level inequ mani peopl mani | countri | basic access servic evid also |
| also | countri basic access servic evid | also | show social mobil stunt less |
| also | particip fulli develop potenti dispar | also | bring divis principl solidar reciproc |
| also | erod excess unequ societi histori | also | teach us democraci begin fray |
| countri | therefor surpris imf research look | countri | last year found unequ countri |
| countri | countri last year found unequ | countri | tend lower less durabl econom |
| econom | countri tend lower less durabl | econom | growth much diagnosi done done |
| growth | tend lower less durabl econom | growth | much diagnosi done done recent |
| polici | recent work well focus fiscal | polici | dimens part imf core busi |
| polici | core busi found general fiscal | polici | good record reduc social dispar |
| economi | inequ third averag among advanc | economi | complex issu polici choic need |
| polici | among advanc economi complex issu | polici | choic need made care fiscal |
| need | economi complex issu polici choic | need | made care fiscal disciplin often |
| market | educ health reli activ labor | market | program inwork social benefit must |
| polici | recogn reduc inequ easi redistribut | polici | alway produc winner loser yet |
| economi | mani peopl possibl particip benefit | economi | need inclus mean address extrem |
| need | peopl possibl particip benefit economi | need | inclus mean address extrem incom |
| global | might surpris light behavior trigger | global | financi crisi nevertheless disturb mani |
| global | sun fell back earth take | global | economi trace problem evolut financi |
| economi | fell back earth take global | economi | trace problem evolut financi sector |
| economi | role financi sector serv rule | economi | real job benefit peopl especi |
| financ | real job benefit peopl especi | financ | invest thus help creation job |
| growth | invest thus help creation job | growth | winston churchil remark would rather |
| financ | churchil remark would rather see | financ | less proud industri content good |
| also | task hand yet must acknowledg | also | stem fierc industri pushback fatigu |
| countri | hole financi architectur right call | countri | put global good financi stabil |
| global | architectur right call countri put | global | good financi stabil ahead parochi |
| also | choos go moon easi hard | also | need vigor across rest reform |
| need | go moon easi hard also | need | vigor across rest reform agenda |
| market | exampl mutual recognit rule deriv | market | complex need mind risk fragment |
| need | recognit rule deriv market complex | need | mind risk fragment global financi |
| global | complex need mind risk fragment | global | financi system hamper flow credit |
| financ | financi system hamper flow credit | financ | invest complex excus complac delay |
| need | chang behavior culturea well regul | need | stronger supervis rule good implement |
| also | rule alway find creativ way | also | need turn attent cultur financi |
| need | alway find creativ way also | need | turn attent cultur financi institut |
| need | launder illeg foreclosur restor trust | need | shift toward greater integr account |
| need | shift toward greater integr account | need | stronger systemat ethic dimens grappl |
| financ | man perspect identifi true purpos | financ | goal put resourc product use |
| econom | transform matur therebi contribut good | econom | stabil full employ ultim wellb |
| need | framework know purpos identifi virtu | need | fulfil becom matter everi person |
| financ | everi person right thing think | financ | sure one core virtu prudenc |
| need | canada last year financi sector | need | ground strong connect client communiti |
| need | peopl serv financi industri ultim | need | ingrain greater social conscious one |
| econom | practic way make capit engin | econom | opportun draw parallel expand environment |
| also | policymak normal comfort talk yet | also | believ link clear ethic behavior |
| global | deplet treasuri trust could destabil | global | economi work initi import need |
| economi | treasuri trust could destabil global | economi | work initi import need infus |
| need | global economi work initi import | need | infus conscious econom leader across |
| econom | initi import need infus conscious | econom | leader across sector countri end |
| countri | conscious econom leader across sector | countri | end day global economi inclus |
| global | across sector countri end day | global | economi inclus gain less elus |
| economi | sector countri end day global | economi | inclus gain less elus market |
| market | economi inclus gain less elus | market | effect better futur everyon like |
| polici | zone dramat alter landscap monetari | polici | immens interest includ across membership |
| polici | across membership imf contour monetari | polici | postcrisi world portug could better |
| econom | portug look ahead success complet | econom | reform program signific effort determin |
| polici | like look ahead futur monetari | polici | crisi econom condit settl someth |
| econom | ahead futur monetari polici crisi | econom | condit settl someth normal navig |
| global | draw lesson expertis gain engag | global | membership also draw recent work |
| also | expertis gain engag global membership | also | draw recent work tri focus |
| need | explor terra incognita key question | need | answer chart cours certainti spirit |
| polici | main theme evolv mandat monetari | polici | ii monetari polici independ given |
| polici | mandat monetari polici ii monetari | polici | independ given possibl wider mandat |
| polici | financi interlinkag challeng pose monetari | polici | particular emerg market small open |
| market | pose monetari polici particular emerg | market | small open economi evolv mandat |
| economi | particular emerg market small open | economi | evolv mandat monetari policylet begin |
| polici | monetari policylet begin mandat monetari | polici | revisit various angl key issu |
| polici | angl key issu whether monetari | polici | also includ financi stabil object |
| also | key issu whether monetari polici | also | includ financi stabil object cours |
| also | stabil object cours one could | also | ask whether monetari polici put |
| polici | could also ask whether monetari | polici | put weight growth unemploy crisi |
| growth | whether monetari polici put weight | growth | unemploy crisi remind us price |
| need | stabil alway suffici output stabil | need | priorit especi dinner focus financi |
| polici | know broad precrisi consensus monetari | polici | focus maintain price stabil understood |
| also | light touch microprudenti regul suppos | also | deliv financi stabil rememb prevail |
| market | stabil rememb prevail belief financi | market | resili agreement monetari polici lean |
| polici | financi market resili agreement monetari | polici | lean wind fend surg credit |
| polici | price howev case crisi monetari | polici | would lend hand clean event |
| global | clean event lower interest rate | global | financi crisi challeng basic tenet |
| also | cleanup excess long complex crisi | also | made clear financi stabil essenti |
| polici | made clear financi stabil essenti | polici | object one stay job given |
| polici | one stay job given monetari | polici | best outcom would dedic polici |
| polici | polici best outcom would dedic | polici | instrument combat financi risk direct |
| polici | financi risk direct toolkit prudenti | polici | macro microprudenti measur loantovalu limit |
| polici | countercycl capit buffer yet prudenti | polici | may work plan relat limit |
| economi | fullfledg macroprudenti framework especi advanc | economi | definit guid like precursor chronomet |
| countri | level loantovalu ratio declin yet | countri | israel switzerland turkey credit growth |
| growth | countri israel switzerland turkey credit | growth | hous price inflat remain high |
| polici | despit various macroprudenti measur prudenti | polici | still shortcom despit best effort |
| polici | effort make work case monetari | polici | may need lend hand secur |
| need | work case monetari polici may | need | lend hand secur financi stabil |
| growth | financi stabil measur term credit | growth | asset price growth leverag link |
| growth | term credit growth asset price | growth | leverag link financi stabil inflat |
| polici | financi stabil concern manifest monetari | polici | decis delic tradeoff aris rais |
| growth | financi stabil risk lower support | growth | inflat sweden exampl given financi |
| need | rate despit low inflat sum | need | continu strive improv prudenti framework |
| polici | framework financi sector overburden monetari | polici | macroprudenti polici fall short monetari |
| polici | sector overburden monetari polici macroprudenti | polici | fall short monetari polici larger |
| polici | macroprudenti polici fall short monetari | polici | larger role past maintain financi |
| polici | past maintain financi stabil monetari | polici | independ given wider mandatelet turn |
| polici | object instrument transmiss mechan monetari | polici | second pillar consist perform public |
| need | pillar consist perform public govern | need | convinc central bank willing abil |
| econom | agreement low stabl inflat crucial | econom | stabil growth natur independ also |
| growth | stabl inflat crucial econom stabil | growth | natur independ also find root |
| also | econom stabil growth natur independ | also | find root outsid monetari polici |
| polici | also find root outsid monetari | polici | framework institut structur import respons |
| polici | institut structur import respons fiscal | polici | essenti avoid risk fiscal domin |
| polici | loantovalu limit like cheer type | polici | time soon go factor financi |
| need | bank mandat kind institut framework | need | macroprudenti polici ad mix one |
| polici | kind institut framework need macroprudenti | polici | ad mix one thing need |
| need | polici ad mix one thing | need | institut structur protect achiev price |
| polici | stabil word structur guarante monetari | polici | continu focus price stabil still |
| countri | earli draw best practic cross | countri | experi alreadi promis approach one |
| polici | one way hous monetari macrorprudenti | polici | differ institut approach countri australia |
| countri | macrorprudenti polici differ institut approach | countri | australia chile mexico taken case |
| polici | committe creat facilit inform share | polici | coordin also possibl hous monetari |
| also | facilit inform share polici coordin | also | possibl hous monetari macroprudenti polici |
| polici | also possibl hous monetari macroprudenti | polici | roof central bank case safeguard |
| need | roof central bank case safeguard | need | protect independ monetari polici ecb |
| polici | safeguard need protect independ monetari | polici | ecb task certain aspect macroprudenti |
| polici | ecb task certain aspect macroprudenti | polici | bank england good exampl respons |
| polici | good exampl respons monetari macroprudenti | polici | yet distinct govern structur two |
| polici | govern structur two area monetari | polici | independ emerg market small open |
| market | area monetari polici independ emerg | market | small open economiesthi bring third |
| market | increas complex financi interlinkag emerg | market | small open economi retain monetari |
| economi | interlinkag emerg market small open | economi | retain monetari independ word cope |
| countri | asset price exchang rate sever | countri | flow led buildup financi vulner |
| polici | think strong appreci currenc monetari | polici | loosen advanc economi januari may |
| economi | currenc monetari polici loosen advanc | economi | januari may near percent new |
| also | may real challeng policymak crisi | also | rais awar polici tradeoff caus |
| polici | policymak crisi also rais awar | polici | tradeoff caus spillov mani countri |
| countri | polici tradeoff caus spillov mani | countri | policymak caught rock hard place |
| also | inflow appreci exchang rate flexibl | also | panacea exchang rate often overshot |
| polici | first enhanc resili shock requir | polici | action advanc emerg economi imf |
| economi | requir polici action advanc emerg | economi | imf analysi suggest recent volatil |
| market | analysi suggest recent volatil emerg | market | economi reflect extern intern factor |
| economi | suggest recent volatil emerg market | economi | reflect extern intern factor advanc |
| economi | reflect extern intern factor advanc | economi | help reduc volatil communic clear |
| polici | volatil communic clear cours monetari | polici | token good fundament also matter |
| also | monetari polici token good fundament | also | matter short cut substitut sound |
| polici | matter short cut substitut sound | polici | fend excess volatil reduc vulner |
| market | financi framework order day emerg | market | inde countri second approach respond |
| countri | order day emerg market inde | countri | second approach respond use full |
| polici | second approach respond use full | polici | toolkit mean monetari exchang rate |
| polici | toolkit mean monetari exchang rate | polici | also macroprudenti fiscal polici case |
| also | mean monetari exchang rate polici | also | macroprudenti fiscal polici case capit |
| polici | rate polici also macroprudenti fiscal | polici | case capit flow manag foreign |
| countri | necessari macroeconom adjust fact sever | countri | brazil uruguay indonesia use form |
| countri | control discourag short term inflow | countri | india peru interven direct foreign |
| market | peru interven direct foreign exchang | market | polici help limit excess volatil |
| polici | interven direct foreign exchang market | polici | help limit excess volatil long |
| polici | volatil long remain target temporari | polici | expect take steam need adjust |
| need | temporari polici expect take steam | need | adjust even broader question abid |
| polici | abid type world would live | polici | view nation perspect may end |
| countri | possibl larg welfar loss mani | countri | spillov effect advanc emerg market |
| market | countri spillov effect advanc emerg | market | economi also spillback feedback effect |
| economi | spillov effect advanc emerg market | economi | also spillback feedback effect emerg |
| also | effect advanc emerg market economi | also | spillback feedback effect emerg market |
| market | also spillback feedback effect emerg | market | larg advanc economi kind world |
| economi | effect emerg market larg advanc | economi | kind world want live would |
| polici | make third approach compel cours | polici | intern monetari polici cooper know |
| polici | compel cours polici intern monetari | polici | cooper know topic vocal skeptic |
| also | cooper know topic vocal skeptic | also | ardent support imagin bit bias |
| polici | feedback effect think coordin cut | polici | interest rate key countri height |
| countri | cut polici interest rate key | countri | height crisi swap arrang fed |
| market | bank action help preempt financi | market | disloc across globe g agreement |
| polici | urgenc less clariti gain monetari | polici | cooper normal time precis uncertainti |
| need | discount gain cooper postcrisi world | need | concert effort examin effect cooper |
| polici | concert effort examin effect cooper | polici | respons spillov effect global welfar |
| global | cooper polici respons spillov effect | global | welfar implic also light evolut |
| also | spillov effect global welfar implic | also | light evolut financi system imf |
| global | project let conclud today part | global | intellectu effort defin contour monetari |
| polici | intellectu effort defin contour monetari | polici | postcrisi world new environ sever |
| polici | environ sever basic principl monetari | polici | well worth keep other need |
| need | polici well worth keep other | need | revisit respect recogn rais question |
| polici | exampl new lectur seri monetari | polici | launch honor michel camdessus fund |
| also | great inspir us person would | also | like thank kenneth wollack presid |
| also | institut talent clair shipman let | also | recogn wonder organ honor today |
| countri | leadership set standard hope neighbor | countri | around world world need peopl |
| need | neighbor countri around world world | need | peopl want begin today stori |
| also | simpl surgeon boy mother yet | also | know plenti educ erudit peopl |
| global | daili basi world know hurt | global | economi radar imf messag simpl |
| economi | basi world know hurt global | economi | radar imf messag simpl need |
| need | economi radar imf messag simpl | need | st centuri mental women econom |
| econom | need st centuri mental women | econom | particip need flush away flotsam |
| need | centuri mental women econom particip | need | flush away flotsam ingrain gender |
| need | away flotsam ingrain gender inequ | need | like say dare differ dare |
| polici | avenu opportun us trailblaz educ | polici | help drive econom leadership across |
| econom | trailblaz educ polici help drive | econom | leadership across th centuri gender |
| countri | invest educ mission critic develop | countri | girl women make huge differ |
| countri | well societi better studi develop | countri | estim econom loss educ girl |
| econom | better studi develop countri estim | econom | loss educ girl level boy |
| global | educ threat bless must make | global | prioriti one lead caus day |
| econom | repres far less half measur | econom | activ today million women around |
| economi | gender gap rang percent oecd | economi | percent middl east north africa |
| global | tend stuck lowpay lowstatus job | global | women earn threequart much men |
| also | equal pay equal work women | also | overrepres inform sector economi unprotect |
| economi | women also overrepres inform sector | economi | unprotect unskil work unstabl earn |
| global | work unpaid unseen unreport underappreci | global | women spend twice much time |
| econom | less dollar day first submerg | econom | crisi must better mani women |
| also | unaccount underutil overexploit moral imper | also | econom imper evid plain women |
| econom | underutil overexploit moral imper also | econom | imper evid plain women contribut |
| economi | imper evid plain women contribut | economi | better done research imf know |
| econom | imf know elimin gender gap | econom | particip lead big jump incom |
| econom | incom per capita crucial measur | econom | wellb gain visibl everywher especi |
| global | control purs string account percent | global | consum spend want spend econom |
| econom | global consum spend want spend | econom | growth need empow women agent |
| growth | consum spend want spend econom | growth | need empow women agent aggreg |
| need | spend want spend econom growth | need | empow women agent aggreg demand |
| econom | properti inherit law discrimin women | econom | polici also forc agent chang |
| polici | inherit law discrimin women econom | polici | also forc agent chang develop |
| also | law discrimin women econom polici | also | forc agent chang develop countri |
| countri | also forc agent chang develop | countri | uplift women begin better access |
| countri | time evid show among develop | countri | spend health educ rise faster |
| countri | spend health educ rise faster | countri | program support also work econom |
| also | rise faster countri program support | also | work econom inequ exclus usual |
| econom | countri program support also work | econom | inequ exclus usual women left |
| countri | come confer amman arab transit | countri | big takeaway region need inclus |
| need | transit countri big takeaway region | need | inclus economi want commend great |
| economi | big takeaway region need inclus | economi | want commend great work aswat |
| countri | empow women across region richer | countri | also work level play field |
| also | women across region richer countri | also | work level play field labor |
| need | work level play field labor | need | prowomen profamili polici polici like |
| polici | field labor need prowomen profamili | polici | polici like publiclyfund parent leav |
| polici | labor need prowomen profamili polici | polici | like publiclyfund parent leav scheme |
| polici | lowwag worker part imf recommend | polici | increas femal labor particip countri |
| countri | polici increas femal labor particip | countri | like japan korea women could |
| polici | could visibl workplac know kind | polici | work look brazil thank profamili |
| polici | look brazil thank profamili propoor | polici | manag boost women particip percent |
| polici | flexibl work arrang parent leav | polici | polici cours also cultur chang |
| polici | work arrang parent leav polici | polici | cours also cultur chang way |
| also | parent leav polici polici cours | also | cultur chang way work sweep |
| financ | scienc technolog field like law | financ | two profess seen firsthand still |
| countri | world held women less percent | countri | femal leader ironi though women |
| also | profit median firm area women | also | far less like engag kind |
| global | kind reckless risktak behavior spark | global | financi crisi exampl experi invest |
| also | often ignor dismiss proven right | also | know women good manag good |
| also | save compani deep troubl although | also | like fire posit alleg risk |
| need | chang must begin chang attitud | need | put end idea tough flow |
| need | abil hold imposs standard perfect | need | chang crush nasti mind bug |
| also | stay mire comfort numb complac | also | passion believ mentor role model |
| need | women list major barrier advanc | need | look ultim would love see |
| countri | forward agenda build futur arab | countri | transit strong growth good job |
| growth | futur arab countri transit strong | growth | good job fair generat multitud |
| polici | generat like particular follow macroeconom | polici | impress deep sens among countri |
| countri | polici impress deep sens among | countri | strong share vision need guid |
| need | among countri strong share vision | need | guid econom futur togeth strong |
| econom | strong share vision need guid | econom | futur togeth strong effect leadership |
| need | togeth strong effect leadership vision | need | master multipl challeng bring strong |
| also | creat job rais live standard | also | agre import improv composit govern |
| growth | achiev fair effici ultim inclus | growth | context strong concur need find |
| need | inclus growth context strong concur | need | find resourc boost public invest |
| also | account state visà vi citizen | also | attract investor build credibl around |
| econom | investor build credibl around direct | econom | transit encourag mani see strengthen |
| economi | without phase corrupt rent seeker | economi | also wide agre creat employ |
| also | phase corrupt rent seeker economi | also | wide agre creat employ youth |
| market | bridg product employ design labor | market | regul protect worker without unduli |
| also | busi climat conduc greater competit | also | encourag seen strong buyin past |
| need | strong buyin past two day | need | much empow women reform area |
| financ | short run suffici addit extern | financ | mobil scale public invest could |
| need | assess progress goal period meantim | need | take work forward level countri |
| countri | need take work forward level | countri | flexibl base countri specif need |
| countri | forward level countri flexibl base | countri | specif need import regular engag |
| need | countri flexibl base countri specif | need | import regular engag stakehold includ |
| polici | regular engag stakehold includ peopl | polici | design check right track let |
| countri | transit daunt undertak confid lead | countri | prosper bright futur |
| countri | alaykum great privileg come beauti | countri | countri twin nobl grandeur modern |
| countri | great privileg come beauti countri | countri | twin nobl grandeur modern vital |
| econom | region peopl rose demand greater | econom | opportun greater fair greater digniti |
| econom | would like talk next phase | econom | transform whole region day time |
| econom | partnership govern jordan arab fund | econom | social develop today would like |
| econom | aheadlet begin stand good news | econom | situat arab transit countri look |
| countri | news econom situat arab transit | countri | look higher export higher public |
| countri | invest sign privat invest rise | countri | like morocco reap fruit effort |
| countri | none accident past three year | countri | made great progress polici front |
| polici | year countri made great progress | polici | front exampl jordan move away |
| countri | impress given extern environ kind | countri | intern pressur bubbl social econom |
| econom | countri intern pressur bubbl social | econom | financi front still progress remain |
| also | heartbreak tragedi still beset syria | also | know turn tide emerg market |
| market | also know turn tide emerg | market | europ gulf could rippl effect |
| econom | rippl effect region bottom line | econom | stabil must remain key prioriti |
| countri | stabil alon enough arab transit | countri | today face jar job crisi |
| market | world come knock door job | market | could either boon bane demograph |
| countri | boon bane demograph dividend offer | countri | avenu toward higher product higher |
| need | step transit clear creat job | need | meet aspir rise generat creat |
| economi | rise generat creat vibrant dynam | economi | offer opportun task daunt make |
| need | task daunt make inroad would | need | see growth rate doubl current |
| growth | make inroad would need see | growth | rate doubl current level around |
| also | doubl current level around percent | also | need see growth feed job |
| need | current level around percent also | need | see growth feed job far |
| growth | around percent also need see | growth | feed job far greater extent |
| economi | solut involv strengthen middl middl | economi | middl societi also middl ground |
| also | middl middl economi middl societi | also | middl ground state neither suffoc |
| economi | neither suffoc stand aloof real | economi | second issu would like talk |
| econom | would like talk today strengthen | econom | middl mean give shot arm |
| economi | kind firm form backbon healthi | economi | region world main engin job |
| also | central asia current industri structur | also | littl unbalanc small number larg |
| market | firm region posit compet world | market | side equat larg inform sector |
| also | govern regul taxat yet inform | also | come clear cost less technolog |
| countri | grow flourish realli number game | countri | need empow enough entrepreneur har |
| need | flourish realli number game countri | need | empow enough entrepreneur har big |
| economi | bottom line must nurtur middl | economi | true societi mean mean strong |
| countri | morocco real sens arab transit | countri | mani region globe middl class |
| econom | frustrat stagnat live standard shrink | econom | opportun mani countri egypt jordan |
| countri | standard shrink econom opportun mani | countri | egypt jordan morocco middl class |
| growth | middl class improv sinc time | growth | much higher today let frank |
| growth | higher today let frank dividend | growth | often gone top leav mani |
| global | top leav mani other cold | global | experi tell us need strong |
| need | cold global experi tell us | need | strong middl class drive economi |
| economi | need strong middl class drive | economi | forward strong middl class sustain |
| also | stabil prosper strong middl class | also | home kind entrepreneur need today |
| need | class also home kind entrepreneur | need | today modern economi mean countri |
| economi | kind entrepreneur need today modern | economi | mean countri must provid citizen |
| countri | need today modern economi mean | countri | must provid citizen ladder climb |
| also | keep climb even point must | also | make sure fruit prosper share |
| economi | share wide fair touch middl | economi | middl societi let talk state |
| countri | state middl road right mani | countri | state intrus public sector stake |
| global | benefit good job secur yet | global | experi tell us road econom |
| econom | global experi tell us road | econom | dynam road fair inclus look |
| need | fair inclus look ahead state | need | step back area step forward |
| need | back area step forward other | need | provid fewer blanket subsidi basic |
| need | peopl fall crack perhap import | need | becom less employ effect imparti |
| polici | back privat sector step forward | polici | strengthen middlewhat polici help strengthen |
| polici | step forward polici strengthen middlewhat | polici | help strengthen middl ground describ |
| economi | help strengthen middl ground describ | economi | societi said outset macroeconom stabil |
| need | success build beauti new structur | need | make sure foundat solid includ |
| polici | includ make right choic fiscal | polici | make sure deficit lead rise |
| countri | health educ public invest know | countri | region fulli board agenda make |
| economi | stabil strengthen middl mean participatori | economi | less privileg economi achiev let |
| economi | mean participatori economi less privileg | economi | achiev let propos threeleg stool |
| polici | achiev let propos threeleg stool | polici | enabl privat sector engend job |
| countri | right almost quarter firm arab | countri | transit see busi licens permit |
| countri | among highest world good news | countri | work streamlin condit busi entri |
| countri | busi entri problem vari across | countri | could better reform insolv regim |
| also | could better reform insolv regim | also | import focus reorgan fail firm |
| also | take risk enabl privat sector | also | mean make sure firm adequ |
| financ | mean make sure firm adequ | financ | present region world lowest percentag |
| also | loan go small mediums enterpris | also | underestim import good infrastructur busi |
| market | often hard simpli get good | market | electr communic network could made |
| also | creat job boost incom would | also | increas knowledg knowhow foreign invest |
| financ | foreign invest combin reform regul | financ | infrastructur trade arab transit countri |
| countri | financ infrastructur trade arab transit | countri | abl unleash dynam privat sector |
| global | leg stool engend job youngagain | global | experi tell us must sure |
| need | begin educ equip student skill | need | thrive st economi enter good |
| economi | student skill need thrive st | economi | enter good news region literaci |
| also | book endow great librari morocco | also | home one world oldest univers |
| market | asid educ import make labor | market | work better make welcom young |
| need | regul constraint hire cours regul | need | protect worker matter find right |
| market | almost tripl averag gap emerg | market | develop economi doubl instead tripl |
| economi | averag gap emerg market develop | economi | doubl instead tripl econom gain |
| econom | develop economi doubl instead tripl | econom | gain would enorm almost trillion |
| polici | engend job young third leg | polici | stool enforc rule imparti basic |
| polici | good govern best rule best | polici | world without good govern need |
| need | polici world without good govern | need | implement proper effect legitimaci undermin |
| countri | last decad across arab transit | countri | weak govern also undermin econom |
| also | arab transit countri weak govern | also | undermin econom effect leprosi corrupt |
| econom | countri weak govern also undermin | econom | effect leprosi corrupt eat away |
| economi | effect leprosi corrupt eat away | economi | caus valuabl resourc wast instanc |
| countri | inform wide avail know number | countri | work privat sector also need |
| also | number countri work privat sector | also | need open financi inform well |
| need | countri work privat sector also | need | open financi inform well stronger |
| also | well stronger audit report standard | also | need sound regul consist predict |
| need | stronger audit report standard also | need | sound regul consist predict enforc |
| also | perceiv uneven play field region | also | suffer long delay contract enforc |
| econom | demand highest ethic norm aspect | econom | life must listen conclusionlet conclud |
| also | day time know well reform | also | peopl understand impati mani reform |
| polici | sure quick win case setback | polici | persever key let promis stand |
| countri | reform effort stand entir membership | countri | also stand financi advisor capac |
| also | effort stand entir membership countri | also | stand financi advisor capac builder |
| also | stand financi advisor capac builder | also | facilit dialogu partner exampl last |
| countri | deliv technic assist mission arab | countri | transit commit billion financi support |
| need | middl east north africa world | need | contribut voic leadership sit great |
| global | voic leadership sit great crossroad | global | economi north south east west |
| economi | leadership sit great crossroad global | economi | north south east west region |
| polici | general trend move role fiscal | polici | inclus growth challeng asiaincom inequ |
| growth | move role fiscal polici inclus | growth | challeng asiaincom inequ rise mani |
| global | consolid mani face part stem | global | financi crisi put distribut impact |
| polici | distribut impact govern tax spend | polici | heart public debat mani countri |
| countri | polici heart public debat mani | countri | cours question much redistribut state |
| econom | redistribut state core polit one | econom | analysi cannot answer econom studi |
| econom | one econom analysi cannot answer | econom | studi show averag inequ associ |
| growth | show averag inequ associ lower | growth | thus fiscal redistribut help support |
| growth | thus fiscal redistribut help support | growth | reduc inequ redistribut polici generat |
| polici | support growth reduc inequ redistribut | polici | generat tradeoff equal effici design |
| polici | help minim advers effect redistribut | polici | incent work save invest let |
| countri | three decad gini coeffici increas | countri | indic increas inequ latin america |
| economi | latin america highest inequ advanc | economi | lowest asia sinc earli asia |
| growth | asia sinc earli asia fast | growth | deliv major reduct poverti nevertheless |
| countri | inequ distribut incom increas especi | countri | larg popul even though declin |
| growth | popul even though declin impact | growth | poverti expect poverti rate fall |
| polici | less equit middl east role | polici | foster inclus growththes develop along |
| growth | incom inequ detriment macroeconom stabil | growth | call effect polici measur certain |
| polici | macroeconom stabil growth call effect | polici | measur certain driver inequ skillbias |
| polici | chang larg beyond govern reach | polici | also matter reform support equit |
| also | larg beyond govern reach polici | also | matter reform support equit distribut |
| growth | reform support equit distribut gain | growth | exampl labor market polici ensur |
| market | distribut gain growth exampl labor | market | polici ensur homogen employ protect |
| polici | gain growth exampl labor market | polici | ensur homogen employ protect across |
| polici | inclus various studi show fiscal | polici | import polici tool affect incom |
| polici | studi show fiscal polici import | polici | tool affect incom distribut exampl |
| economi | affect incom distribut exampl advanc | economi | empir evid avail direct incom |
| countri | enhanc effici tax revenuesin develop | countri | general fiscal polici play much |
| polici | revenuesin develop countri general fiscal | polici | play much modest role asia |
| polici | spend limit redistribut impact fiscal | polici | emerg economi eme lowincom countri |
| economi | redistribut impact fiscal polici emerg | economi | eme lowincom countri lic region |
| countri | polici emerg economi eme lowincom | countri | lic region averag ratio revenu |
| polici | revenu intak part due explicit | polici | choic favor low tax environ |
| also | broad control differ tax rate | also | tend small sever asian eme |
| growth | level composit public spend proinclus | growth | itemspubl spend educ health also |
| also | growth itemspubl spend educ health | also | inadequ mani part asia spite |
| also | composit spend social protect could | also | enhanc number asia economi sever |
| economi | could also enhanc number asia | economi | sever eme lic social benefit |
| countri | less percent latin america mani | countri | use energi subsidi form social |
| economi | background number question aris asian | economi | beef social protect system enhanc |
| growth | system enhanc redistribut without jeopard | growth | dynam untarget subsidi phase tax |
| polici | dynam untarget subsidi phase tax | polici | side crucial reform need enhanc |
| need | tax polici side crucial reform | need | enhanc progress boost revenu financ |
| financ | need enhanc progress boost revenu | financ | social expenditur look forward fruit |
| countri | high level tax confer asian | countri | organ fiscal affair depart japanes |
| financ | fiscal affair depart japanes ministri | financ | d like thank cohost ministri |
| financ | d like thank cohost ministri | financ | generous support confer staff fiscal |
| also | pacif effort make confer possibl | also | thank deleg australia hong kong |
| also | particip confer share experi particip | also | welcom repres oecd asian develop |
| polici | confer take place time fiscal | polici | need focus rebuild fiscal space |
| need | take place time fiscal polici | need | focus rebuild fiscal space recoveri |
| global | focus rebuild fiscal space recoveri | global | economi strengthen allow automat stabil |
| economi | rebuild fiscal space recoveri global | economi | strengthen allow automat stabil work |
| need | provid room discretionari fiscal respons | need | ensur debt sustain fiscal polici |
| polici | need ensur debt sustain fiscal | polici | also support broader polici object |
| also | ensur debt sustain fiscal polici | also | support broader polici object foster |
| polici | fiscal polici also support broader | polici | object foster inclus growth equiti |
| growth | broader polici object foster inclus | growth | equiti let first say word |
| economi | recent develop fiscal condit advanc | economi | pace fiscal consolid slow averag |
| market | consumpt tax vat among emerg | market | economi deficit remain signific precrisi |
| economi | tax vat among emerg market | economi | deficit remain signific precrisi level |
| countri | deficit remain signific precrisi level | countri | opt postpon fiscal adjust countri |
| countri | countri opt postpon fiscal adjust | countri | close integr intern capit market |
| market | countri close integr intern capit | market | normal global liquid condit begun |
| global | integr intern capit market normal | global | liquid condit begun rais borrow |
| countri | fiscal space shrink mani lowincom | countri | revenu mobil lag behind fast |
| growth | mobil lag behind fast spend | growth | reduc avail aid resourc commod |
| economi | price volatil remain key risk | economi | question rebuild fiscal space effort |
| need | taxat best respond mount spend | need | develop countri help bring debt |
| countri | respond mount spend need develop | countri | help bring debt ratio advanc |
| economi | help bring debt ratio advanc | economi | equiti concern balanc especi hard |
| need | balanc especi hard time effici | need | secur longterm growth countri tax |
| growth | time effici need secur longterm | growth | countri tax better fair emerg |
| countri | effici need secur longterm growth | countri | tax better fair emerg market |
| market | countri tax better fair emerg | market | economi lowincom countri potenti rais |
| economi | tax better fair emerg market | economi | lowincom countri potenti rais revenu |
| countri | fair emerg market economi lowincom | countri | potenti rais revenu often substanti |
| economi | remain central challeng sever advanc | economi | could still mobil signific amount |
| growth | amount limit distort advers effect | growth | broaden base valuead tax rank |
| econom | valuead tax rank high term | econom | effici almost everywher case combin |
| economi | cours particular challeng lower incom | economi | reform intern taxat high global |
| global | economi reform intern taxat high | global | fiscal agenda hard especi import |
| countri | agenda hard especi import develop | countri | given greater relianc corpor taxat |
| countri | come hand multin strong case | countri | advanc develop rise substanti properti |
| global | level reflect environment damag notabl | global | warm local pollut traffic congest |
| need | forego effici way meet revenu | need | acut mani countri reduc relianc |
| countri | meet revenu need acut mani | countri | reduc relianc damag way rais |
| econom | tax system region two region | econom | associ asean saarc south asian |
| econom | area safta asean transform asean | econom | communiti aec acm safta aec |
| econom | toward coordin tax system region | econom | communiti member need pay close |
| need | system region econom communiti member | need | pay close attent wto rule |
| countri | maintain system uniqu abil draw | countri | knowledg experi bep action plan |
| polici | one alreadi effect nation tax | polici | perhap mne behavior draw distinct |
| countri | high incom wealth individu issu | countri | achiev desir degre progress tax |
| polici | desir degre progress tax design | polici | option includ shape progress person |
| polici | reli sole monetari exchang rate | polici | also need strengthen fiscal polici |
| also | sole monetari exchang rate polici | also | need strengthen fiscal polici capac |
| need | monetari exchang rate polici also | need | strengthen fiscal polici capac henc |
| polici | polici also need strengthen fiscal | polici | capac henc creation fiscal affair |
| polici | prepar deliverydo rememb monetari | polici | bore bit like walk staircas |
| market | basi point time step anticip | market | say central banker dinner parti |
| economi | actor stabil financi system whole | economi | constant spotlight except action except |
| economi | central bank recent year world | economi | would today much wors new |
| polici | laurel world continu chang monetari | polici | central bank go back use |
| polici | decid make debat futur monetari | polici | reach new normal import focus |
| countri | among question receiv time member | countri | question becom press time answer |
| need | question becom press time answer | need | help task larg singl individu |
| countri | confer reach monetari author member | countri | lead thinker field invit reflect |
| polici | invit reflect us futur monetari | polici | much expertis knowledg resid imf |
| countri | resid imf bring debat cross | countri | knowledg experi organ collabor intern |
| econom | effort tradit look big pictur | econom | polici work togeth believ go |
| polici | tradit look big pictur econom | polici | work togeth believ go far |
| countri | despit wider mandat à ¸ | countri | retain monetari independ increas financi |
| polici | interconnect world à ¸ monetari | polici | financi stabil target lean wind |
| global | normal time question emerg experi | global | financi crisi grain question run |
| polici | stabil left microprudenti author monetari | polici | left clean financi bust need |
| need | polici left clean financi bust | need | Ã ¸ central bank target |
| market | ¸ central bank target shortterm | market | yield leav arbitrag take care |
| economi | care transmiss asset price wider | economi | avoid misunderstand consensus serv us |
| need | challeng preserv work make chang | need | import think freeli innov also |
| also | need import think freeli innov | also | want throw babi bath water |
| polici | review current state debat extract | polici | conclus wherev possibl also lay |
| also | extract polici conclus wherev possibl | also | lay clear unresolv issu hope |
| polici | delight mani best mind monetari | polici | field assembl today stage audienc |
| polici | interest around world futur monetari | polici | also delight announc follow confer |
| also | around world futur monetari polici | also | delight announc follow confer anoth |
| polici | share us deep insight monetari | polici | know michel camdessus fund longest |
| polici | honor underlin commit field monetari | polici | collabor central bank around world |
| polici | possibl question introduc moder activ | polici | maker draw practic experi subsequ |
| global | colleagu asean today present cover | global | econom set review outlook risk |
| econom | asean today present cover global | econom | set review outlook risk main |
| polici | set review outlook risk main | polici | prioriti asia region asean also |
| also | polici prioriti asia region asean | also | briefli discuss major polici theme |
| polici | asean also briefli discuss major | polici | theme asia along implic region |
| global | briefli highlight key point present | global | growth firm account recoveri advanc |
| growth | highlight key point present global | growth | firm account recoveri advanc economi |
| economi | growth firm account recoveri advanc | economi | global activ pick world trade |
| global | firm account recoveri advanc economi | global | activ pick world trade gain |
| growth | assum financi volatil continu subsid | growth | rise percent  ¾ percent |
| economi | percent main impetus come advanc | economi | u economi grew fasterthananticip percent |
| economi | impetus come advanc economi u | economi | grew fasterthananticip percent led domest |
| also | gdp could increas percent percent | also | support smaller fiscal drag pickup |
| growth | fiscal drag pickup nonresidenti fixedinvest | growth | consum busi confid improv order |
| also | critic address mediumterm fiscal risk | also | continu manag care withdraw monetari |
| market | flexibl come expens wider dispers | market | expect greater polici uncertainti clear |
| polici | wider dispers market expect greater | polici | uncertainti clear communic fomc regard |
| countri | recoveri take hold stronger core | countri | weaker peripheri activ shrank  |
| growth | activ shrank  ½ percent | growth | posit sinc second quarter help |
| growth | back slower fiscal consolid bud | growth | lower tail risk buoy financi |
| market | lower tail risk buoy financi | market | mark compress sovereign spread stress |
| economi | mark compress sovereign spread stress | economi | although spread increas modest recent |
| market | spread increas modest recent financi | market | volatil euro area recoveri expect |
| growth | euro area recoveri expect continu | growth | expect percent reflect smaller fiscal |
| market | ensur durabl recoveri activ emerg | market | develop economi pick slight latter |
| economi | recoveri activ emerg market develop | economi | pick slight latter part percent |
| economi | driven stronger extern demand advanc | economi | tighter extern financi condit howev |
| economi | volatil earli highlight challeng emerg | economi | pose chang extern environ mani |
| economi | chang extern environ mani emerg | economi | came renew pressur late januari |
| economi | currenc depreci pressur felt wide | economi | weaker fundament impact includ south |
| global | south africa turkey overal even | global | prospect slowli strengthen specter old |
| economi | import shock absorb across region | economi | made limit use reserv counter |
| market | except indonesia thailand along emerg | market | emerg asian economi also face |
| economi | along emerg market emerg asian | economi | also face larg capit outflow |
| also | emerg market emerg asian economi | also | face larg capit outflow januari |
| global | although prove resili latest bout | global | volatil reflect part polici action |
| polici | bout global volatil reflect part | polici | action taken address extern domest |
| market | reform malaysia financi environ emerg | market | challeng financi condit across asean |
| growth | remain broad conduc domest credit | growth | corpor bond issuanc strong equiti |
| market | corpor bond issuanc strong equiti | market | rebound spring low global region |
| global | equiti market rebound spring low | global | region econom prospect improv foreign |
| econom | rebound spring low global region | econom | prospect improv foreign bank lend |
| economi | contrast broader develop region asean | economi | deceler recent trend within asean |
| global | diverg stage impress recoveri follow | global | crisi growth asean economi indonesia |
| growth | impress recoveri follow global crisi | growth | asean economi indonesia malaysia philippin |
| economi | follow global crisi growth asean | economi | indonesia malaysia philippin singapor thailand |
| growth | philippin indonesia declin real gdp | growth | driven main lower contribut invest |
| also | particular thailand malaysia weak export | also | drag growth forthcom asia pacif |
| growth | malaysia weak export also drag | growth | forthcom asia pacif region econom |
| econom | growth forthcom asia pacif region | econom | outlook find recent growth slowdown |
| growth | region econom outlook find recent | growth | slowdown asean cyclic structur trend |
| growth | slowdown asean cyclic structur trend | growth | larg held credit cycl boost |
| growth | held credit cycl boost cyclic | growth | moder addit slowdown reflect domest |
| global | extern factor reflect support role | global | demand go forward remain optimist |
| growth | go forward remain optimist asean | growth | prospect go forward inflat expect |
| polici | part due recent tighten monetari | polici | risk outlook becom balanc still |
| market | extern environ uncertain particular emerg | market | asia also face various idiosyncrat |
| also | uncertain particular emerg market asia | also | face various idiosyncrat risk financi |
| growth | impact higher interest rate slower | growth | addit discuss detail forthcom asia |
| econom | detail forthcom asia pacif region | econom | outlook concentr leverag among weaker |
| growth | sar philippin malaysia high credit | growth | malaysia singapor well frontier develop |
| economi | malaysia singapor well frontier develop | economi | mongolia lao pdr cambodia warrant |
| also | special attent household debt increas | also | appear manag credit household risen |
| countri | household debttogdp ratio stand percent | countri | well hong kong sar singapor |
| economi | singapor strength household balanc sheet | economi | depend hous price prospect across |
| countri | capit level increas across mani | countri | although remain region includ latin |
| growth | latin america bank profit improv | growth | boost noninterest revenu notabl except |
| polici | vulner corpor household balanc sheet | polici | respond turn main polici challeng |
| polici | sheet polici respond turn main | polici | challeng face region would like |
| polici | would like emphas region resili | polici | framework general sound experi recent |
| polici | larg shock financi imbal associ | polici | tradeoff worsen relat quick put |
| polici | relat quick put premium transpar | polici | framework swift action aim bolster |
| polici | tackl vulner head part result | polici | action taken aftermath may taper |
| market | aftermath may taper episod asian | market | weather januari spike global risk |
| global | asian market weather januari spike | global | risk avers well unlik em |
| polici | avers well unlik em delay | polici | adjust howev effort need maintain |
| need | delay polici adjust howev effort | need | maintain term polici requir first |
| polici | howev effort need maintain term | polici | requir first across emerg asia |
| countri | inflat benign nearterm inflat outlook | countri | appear space maintain current support |
| polici | maintain current support stanc monetari | polici | time gradual normal monetari condit |
| econom | normal monetari condit would warrant | econom | prospect continu improv downsid risk |
| polici | level inflat notori persist increas | polici | rate like need put headlin |
| need | persist increas polici rate like | need | put headlin inflat downward path |
| polici | asean bank indonesia readi increas | polici | rate fend potenti inflationari pressur |
| countri | rate fend potenti inflationari pressur | countri | balanc payment pressur reintensifi polici |
| polici | countri balanc payment pressur reintensifi | polici | tighten would help reduc vulner |
| global | recent case thailand abrupt tighten | global | financi condit mani region central |
| polici | bank could capit low inflat | polici | credibl loosen monetari polici soften |
| polici | inflat polici credibl loosen monetari | polici | soften advers impact tighter financi |
| growth | advers impact tighter financi condit | growth | two largest economi region signific |
| economi | financi condit growth two largest | economi | region signific differ situat japan |
| economi | signific differ situat japan reinflat | economi | remain main goal monetari polici |
| polici | economi remain main goal monetari | polici | risk incomplet exit deflat mean |
| polici | incomplet exit deflat mean monetari | polici | action remain focus rais inflat |
| growth | inflat expect boost nomin wage | growth | remain key way achiev china |
| need | key way achiev china hand | need | slow growth credit especi shadow |
| growth | achiev china hand need slow | growth | credit especi shadow bank sector |
| also | shadow bank sector chines author | also | minim buildup risk financi sector |
| growth | sector without caus steep deceler | growth | would call continu interest rate |
| growth | interest rate liber slower m | growth | even growth miss offici target |
| growth | liber slower m growth even | growth | miss offici target modest margin |
| economi | final mani asia frontier develop | economi | particular mongolia lao pdr cambodia |
| polici | lao pdr cambodia tighten monetari | polici | curb domest credit growth key |
| growth | monetari polici curb domest credit | growth | key address domest imbal overh |
| countri | intervent worth note past year | countri | general pursu flexibl exchang rate |
| countri | aim primarili smooth volatil especi | countri | adequ reserv mention previous occas |
| polici | reserv mention previous occas macroprudenti | polici | use extens asia region global |
| global | polici use extens asia region | global | financi crisi result tight stanc |
| economi | stabil addit current stanc across | economi | region use macroprudenti tool appear |
| growth | appear broad justifi given steadi | growth | continu strong credit growth mani |
| growth | steadi growth continu strong credit | growth | mani countri pocket elev asset |
| countri | continu strong credit growth mani | countri | pocket elev asset price particular |
| econom | instanc forthcom asia pacif region | econom | outlook find macroprudenti measur particular |
| market | macroprudenti measur particular relat hous | market | debttoincom ratio loantovalu ratio hous |
| growth | hous tax appear effect credit | growth | hous price inflat leverag broad |
| polici | volatil capit flow regard fiscal | polici | gradual fiscal consolid remain appropri |
| countri | gradual fiscal consolid remain appropri | countri | asia alongsid reform rais tax |
| polici | shock well creat condit fiscal | polici | effect tool promot inclus growth |
| growth | polici effect tool promot inclus | growth | inde structur fiscal posit weaker |
| global | inde structur fiscal posit weaker | global | financi crisi number countri public |
| countri | weaker global financi crisi number | countri | public debt high japan lesser |
| polici | japan lesser extent malaysia monetari | polici | countri circumst shape direct polici |
| countri | lesser extent malaysia monetari polici | countri | circumst shape direct polici japan |
| polici | polici countri circumst shape direct | polici | japan recent fiscal consolid measur |
| need | mediumterm fiscal consolid strategi still | need | central govern debt china low |
| need | central govern debt china low | need | revers upward trajectori local govern |
| also | fiscal framework mediumterm adjust plan | also | benefit introduct gst lessen malaysia |
| growth | vulner vietnam capit robust nearterm | growth | outlook address fiscal deficit would |
| polici | bank soe reform adjust macroeconom | polici | mix import push ahead structur |
| also | import push ahead structur reform | also | critic sustain growth momentum go |
| growth | structur reform also critic sustain | growth | momentum go forward address vulner |
| growth | address vulner structur impedi potenti | growth | asia still higher region mani |
| economi | asia still higher region mani | economi | qualiti special sophist industri export |
| growth | industri export bode well mediumterm | growth | new reform need product deceler |
| need | well mediumterm growth new reform | need | product deceler recent year includ |
| economi | reform agenda vari consider across | economi | region across asean focus remov |
| growth | asean focus remov structur impedi | growth | regulatori polici higher infrastructur invest |
| polici | remov structur impedi growth regulatori | polici | higher infrastructur invest china reform |
| economi | improv resourc alloc reduc depend | economi | credit rebalanc growth away invest |
| growth | reduc depend economi credit rebalanc | growth | away invest japan product labor |
| market | away invest japan product labor | market | reform remain prioriti frontier develop |
| economi | reform remain prioriti frontier develop | economi | reform focus improv busi environ |
| growth | conclud say asia remain resili | growth | momentum set continu polici maker |
| polici | resili growth momentum set continu | polici | maker region avoid complac continu |
| global | asia continu capit recoveri rest | global | economi boost mediumterm growth tighten |
| economi | continu capit recoveri rest global | economi | boost mediumterm growth tighten global |
| growth | rest global economi boost mediumterm | growth | tighten global financi condit bout |
| global | economi boost mediumterm growth tighten | global | financi condit bout financi volatil |
| polici | region well posit thrive necessari | polici | adjust tackl thank attent |
| also | thank provost lieberman warm introduct | also | appreci dean vali nasr kind |
| also | student bodi renown intellectu abil | also | intern commit includ campus three |
| market | understand school theme year emerg | market | seem appropri sinc emerg market |
| market | market seem appropri sinc emerg | market | economi account bulk global growth |
| economi | seem appropri sinc emerg market | economi | account bulk global growth next |
| global | emerg market economi account bulk | global | growth next week financ minist |
| growth | market economi account bulk global | growth | next week financ minist central |
| financ | bulk global growth next week | financ | minist central bank governor member |
| countri | minist central bank governor member | countri | emerg market advanc economi lowincom |
| market | bank governor member countri emerg | market | advanc economi lowincom countri gather |
| economi | member countri emerg market advanc | economi | lowincom countri gather washington spring |
| countri | emerg market advanc economi lowincom | countri | gather washington spring meet today |
| global | gather washington spring meet today | global | audienc sai let give preview |
| global | audienc sai let give preview | global | polici agenda strengthen intern cooper |
| polici | sai let give preview global | polici | agenda strengthen intern cooper priorityi |
| global | cooper key address challeng certain | global | economi stabil sinc onset financi |
| economi | key address challeng certain global | economi | stabil sinc onset financi crisi |
| countri | recoveri weak comfort moreov unless | countri | come togeth take right kind |
| polici | come togeth take right kind | polici | measur could face year slow |
| growth | could face year slow subpar | growth | well solid sustain growth need |
| growth | subpar growth well solid sustain | growth | need creat enough job improv |
| need | growth well solid sustain growth | need | creat enough job improv live |
| countri | time brave action major g | countri | meet australia februari recogn right |
| polici | meet australia februari recogn right | polici | action countri right cooper across |
| countri | februari recogn right polici action | countri | right cooper across countri could |
| countri | action countri right cooper across | countri | could rais world gdp percent |
| global | percent next year would place | global | economi substanti differ better trajectori |
| economi | next year would place global | economi | substanti differ better trajectori today |
| countri | assess possibl spillov effect one | countri | polici action might affect other |
| polici | possibl spillov effect one countri | polici | action might affect other global |
| global | polici action might affect other | global | membership technic expertis crosscountri experi |
| economi | reform good imf good u | economi | good world intern cooper high |
| global | els three broad topic state | global | economi growth engin run ii |
| economi | three broad topic state global | economi | growth engin run ii shortterm |
| growth | broad topic state global economi | growth | engin run ii shortterm obstacl |
| global | mediumterm horizon shift gear get | global | economi cruis speed mean stronger |
| economi | horizon shift gear get global | economi | cruis speed mean stronger sustain |
| growth | cruis speed mean stronger sustain | growth | let discuss state global economyfirst |
| global | sustain growth let discuss state | global | economyfirst quick check global economi |
| global | state global economyfirst quick check | global | economi releas new forecast next |
| economi | global economyfirst quick check global | economi | releas new forecast next week |
| global | next week touch broad trend | global | economi turn corner great recess |
| economi | week touch broad trend global | economi | turn corner great recess although |
| growth | corner great recess although overal | growth | remain slow weak global growth |
| global | overal growth remain slow weak | global | growth percent project modest improv |
| growth | growth remain slow weak global | growth | percent project modest improv although |
| econom | although still remain past trend | econom | activ advanc economi improv albeit |
| economi | past trend econom activ advanc | economi | improv albeit vari speed good |
| market | good news past year emerg | market | develop economi shoulder burden recoveri |
| economi | past year emerg market develop | economi | shoulder burden recoveri account percent |
| global | burden recoveri account percent increas | global | growth sinc recoveri final becom |
| growth | recoveri account percent increas global | growth | sinc recoveri final becom bit |
| econom | final becom bit balanc overal | econom | landscap chang signific advanc economi |
| economi | econom landscap chang signific advanc | economi | growth strongest unit state support |
| growth | landscap chang signific advanc economi | growth | strongest unit state support robust |
| economi | bank japan world third largest | economi | activ see boost monetari arrow |
| growth | see boost monetari arrow abenom | growth | sustain remain two polici arrow |
| polici | abenom growth sustain remain two | polici | arrow structur reform concret mediumterm |
| also | reform concret mediumterm fiscal plan | also | need comprehens fire activ emerg |
| need | concret mediumterm fiscal plan also | need | comprehens fire activ emerg market |
| market | need comprehens fire activ emerg | market | economi slow pick slight latter |
| economi | comprehens fire activ emerg market | economi | slow pick slight latter part |
| economi | part driven stronger demand advanc | economi | although tighter extern financi condit |
| growth | bright spot post world highest | growth | rate  ½ percent year |
| also | Â ½ percent year china | also | continu key driver albeit slower |
| countri | slower sustain pace mani lowincom | countri | bright spot asia subsaharan africa |
| countri | year averag continu although sever | countri | rapid debt accumul eros fiscal |
| need | debt accumul eros fiscal space | need | watch turn arab countri transit |
| countri | space need watch turn arab | countri | transit prospect held back difficult |
| countri | held back difficult sociopolit context | countri | strive advanc muchneed reform deserv |
| global | firm support intern communiti snapshot | global | economi would summar way modest |
| economi | support intern communiti snapshot global | economi | would summar way modest fragil |
| need | way modest fragil recoveri underway | need | chang gear toward rapid sustain |
| growth | chang gear toward rapid sustain | growth | remov obstacl shortrun growththi take |
| economi | see three first obstacl advanc | economi | emerg risk call lowflat particular |
| growth | inflat suppress demand output suppress | growth | job monetari eas includ unconvent |
| need | monetari eas includ unconvent measur | need | euro area rais prospect achiev |
| also | price stabil object bank japan | also | persist quantit eas polici second |
| polici | japan also persist quantit eas | polici | second obstacl emerg market economi |
| market | eas polici second obstacl emerg | market | economi corpor leverag rise risk |
| economi | polici second obstacl emerg market | economi | corpor leverag rise risk heighten |
| market | corpor leverag rise risk heighten | market | volatil associ taper quantit eas |
| market | financi climat saw recent bout | market | volatil countri weaker fundament larger |
| countri | saw recent bout market volatil | countri | weaker fundament larger domest extern |
| polici | imbal like affect token strong | polici | respons economi like best safeguard |
| economi | affect token strong polici respons | economi | like best safeguard turbul navig |
| countri | normal requir collabor approach among | countri | mean build share understand risk |
| polici | mean build share understand risk | polici | respons mean cooper among central |
| polici | bank financi regul contain advers | polici | spillov subsequ feedback sourc countri |
| countri | polici spillov subsequ feedback sourc | countri | spillback also mean emphas repeat |
| also | subsequ feedback sourc countri spillback | also | mean emphas repeat continu clear |
| global | rise geopolit tension could cloud | global | econom outlook situat ukrain one |
| econom | geopolit tension could cloud global | econom | outlook situat ukrain one well |
| also | manag could broader spillov implic | also | case geopolit tension resolv requir |
| polici | geopolit tension resolv requir good | polici | good polit essenti enabl global |
| global | polici good polit essenti enabl | global | economi move higher gear reach |
| economi | good polit essenti enabl global | economi | move higher gear reach cruis |
| growth | mediumterm achiev higher qualiti sustain | growth | broad share know cost continu |
| growth | share know cost continu sluggish | growth | high modest incom gain meager |
| polici | inequ inde risk without suffici | polici | ambit world could fall mediumterm |
| growth | world could fall mediumterm low | growth | trap avoid first need fix |
| need | low growth trap avoid first | need | fix problem us time crisi |
| econom | progress made none yet overcom | econom | fiscal monetari polici alreadi mention |
| polici | yet overcom econom fiscal monetari | polici | alreadi mention big part solut |
| polici | big part solut space support | polici | narrow mani countri role structur |
| countri | space support polici narrow mani | countri | role structur reform polici lever |
| polici | mani countri role structur reform | polici | lever increas mean practic term |
| market | term mean bettertarget invest labor | market | reform product market servic reform |
| market | invest labor market reform product | market | servic reform first public invest |
| countri | invest taken hit year mani | countri | higher wellpriorit invest would increas |
| countri | india south africa across asean | countri | public privat invest essenti close |
| also | invest upgrad exist infrastructur network | also | need number advanc economi instanc |
| need | upgrad exist infrastructur network also | need | number advanc economi instanc germani |
| economi | network also need number advanc | economi | instanc germani u second inclus |
| market | germani u second inclus labor | market | reform go long way boost |
| growth | go long way boost potenti | growth | countri age popul increas particip |
| countri | long way boost potenti growth | countri | age popul increas particip underrepres |
| growth | older worker appreci boost potenti | growth | offset impact age recent imf |
| countri | recent imf research point mani | countri | increas women particip workforc power |
| growth | women particip workforc power impetus | growth | countri high level youth unemploy |
| countri | particip workforc power impetus growth | countri | high level youth unemploy inform |
| market | level youth unemploy inform labor | market | reform critic avoid lost generat |
| market | job annual third reform product | market | servic help break vest interest |
| growth | interest boost competit unleash huge | growth | employ potenti case advanc economi |
| economi | growth employ potenti case advanc | economi | japan germani also emerg market |
| also | case advanc economi japan germani | also | emerg market economi china innov |
| market | economi japan germani also emerg | market | economi china innov product underpin |
| economi | japan germani also emerg market | economi | china innov product underpin servic |
| economi | underpin servic sector driver modern | economi | think technolog communic financ turn |
| financ | modern economi think technolog communic | financ | turn depend effect account rulesbas |
| also | institut capac build effort import | also | capac build largest servic imf |
| countri | provid today almost percent member | countri | divers greec georgia guinea myanmar |
| countri | strengthen key area macroeconom manag | countri | strive reform imf intern communiti |
| countri | intern communiti come togeth help | countri | open world bring us back |
| polici | sever obstacl along road bold | polici | step overcom obstacl take global |
| global | polici step overcom obstacl take | global | economi next level rapid sustain |
| economi | step overcom obstacl take global | economi | next level rapid sustain growth |
| growth | economi next level rapid sustain | growth | outlin number step today discuss |
| global | outlin number step today discuss | global | membership next week alreadi clear |
| polici | next week alreadi clear one | polici | step key strengthen intern cooper |
| countri | commit multilater interconnect st centuri | countri | go alon nation prosper global |
| global | countri go alon nation prosper | global | prosper link depend ever work |
| global | ever work togeth imf indispens | global | cooper victor hugo said persever |
| global | hugo said persever secret triumph | global | economi turn corner need persever |
| economi | said persever secret triumph global | economi | turn corner need persever push |
| need | triumph global economi turn corner | need | persever push togeth complet journey |
| also | foundat warm welcom forum would | also | like pay tribut chair luncheon |
| countri | hard believ back imf member | countri | struggl rebuild global economi torn |
| global | imf member countri struggl rebuild | global | economi torn apart war today |
| economi | member countri struggl rebuild global | economi | torn apart war today member |
| countri | torn apart war today member | countri | interconnect global myriad way process |
| global | war today member countri interconnect | global | myriad way process imf transform |
| econom | imf transform premier institut intern | econom | cooper cours china also transform |
| also | intern econom cooper cours china | also | transform today world largest trade |
| economi | largest trade nation world secondlargest | economi | record poverti reduct unparallel human |
| global | reduct unparallel human histori imf | global | experi technic expertis support china |
| growth | trajectori even higher qualiti sustain | growth | trajectori even greater global leadership |
| global | sustain growth trajectori even greater | global | leadership context would like discuss |
| global | three issu first current state | global | economi implic china second key |
| economi | issu first current state global | economi | implic china second key polici |
| polici | economi implic china second key | polici | step achiev china next transform |
| global | china next transform third china | global | role st centuri mean world |
| global | centuri mean world current state | global | economyfirst global economi releas updat |
| global | world current state global economyfirst | global | economi releas updat forecast week |
| economi | current state global economyfirst global | economi | releas updat forecast week today |
| global | today touch broad trend overal | global | prospect improv world economi slowli |
| economi | overal global prospect improv world | economi | slowli turn corner although growth |
| growth | economi slowli turn corner although | growth | remain weak unbalanc januari project |
| global | remain weak unbalanc januari project | global | activ strengthen percent percent larg |
| economi | percent larg driven improv advanc | economi | activ emerg market develop economi |
| market | improv advanc economi activ emerg | market | develop economi pick slight latter |
| economi | economi activ emerg market develop | economi | pick slight latter part driven |
| economi | driven stronger extern demand advanc | economi | although tighter extern financi condit |
| growth | continu bright spot post highest | growth | rate percent year next china |
| growth | driver momentum albeit lower sustain | growth | rate among advanc economi growth |
| economi | sustain growth rate among advanc | economi | growth strongest unit state support |
| growth | growth rate among advanc economi | growth | strongest unit state support robust |
| countri | recoveri take hold stronger core | countri | weaker south progress bank union |
| growth | see boost monetari arrow abenom | growth | sustain need three arrow fire |
| need | monetari arrow abenom growth sustain | need | three arrow fire includ mediumterm |
| global | plan structur reform overal even | global | prospect slowli strengthen specter old |
| economi | two particular number one advanc | economi | particular euro area risk prolong |
| need | risk prolong low inflat loom | need | appropri address includ unconvent monetari |
| polici | appropri address includ unconvent monetari | polici | need number two emerg market |
| need | address includ unconvent monetari polici | need | number two emerg market economi |
| market | polici need number two emerg | market | economi risk heighten market volatil |
| economi | need number two emerg market | economi | risk heighten market volatil associ |
| market | emerg market economi risk heighten | market | volatil associ taper monetari polici |
| polici | market volatil associ taper monetari | polici | advanc economi given countri larger |
| economi | associ taper monetari polici advanc | economi | given countri larger domest extern |
| countri | monetari polici advanc economi given | countri | larger domest extern imbal like |
| polici | imbal like affect strong macroeconom | polici | respons part key continu clear |
| global | china clear emerg stabil forc | global | economi fact china account third |
| economi | clear emerg stabil forc global | economi | fact china account third total |
| global | fact china account third total | global | growth past five year almost |
| growth | china account third total global | growth | past five year almost half |
| economi | year almost half emerg develop | economi | growth go forward strengthen global |
| growth | almost half emerg develop economi | growth | go forward strengthen global economi |
| global | economi growth go forward strengthen | global | economi help china economi help |
| economi | growth go forward strengthen global | economi | help china economi help maintain |
| economi | strengthen global economi help china | economi | help maintain leadership role mani |
| financ | role mani area busi trade | financ | sustain role enhanc import polici |
| polici | financ sustain role enhanc import | polici | step need key polici step |
| need | role enhanc import polici step | need | key polici step achiev china |
| polici | import polici step need key | polici | step achiev china next transformationwhich |
| econom | china next transform china enorm | econom | progress due courag leader peopl |
| growth | short term china crossroad headlin | growth | number remain impress disguis serious |
| need | remain impress disguis serious obstacl | need | overcom recent address presid xi |
| growth | perfect tens challeng clear make | growth | inclus friendlier environ sustain reform |
| global | servic sector ii build modern | global | integr financi sector iii strengthen |
| growth | modern servic sector unlock substanti | growth | potenti sector also boost employ |
| also | unlock substanti growth potenti sector | also | boost employ consumpt live standard |
| countri | china current among top three | countri | world file patent applic alon |
| also | world file patent applic alon | also | rank first worldwid term creativ |
| need | system barrier entri key area | need | reduc innov keep china lead |
| econom | innov keep china lead edg | econom | progress ii build modern global |
| global | econom progress ii build modern | global | integr financi sectorwhat financi sector |
| growth | sector hold great potenti increas | growth | improv welfar china taken commend |
| market | interest rate liber two year | market | orient monetari polici implement also |
| polici | two year market orient monetari | polici | implement also increas yet still |
| also | market orient monetari polici implement | also | increas yet still way go |
| global | way go establish modern robust | global | integr financi system essenti support |
| also | domest save product use would | also | prepar chines bank play bigger |
| global | chines bank play bigger role | global | gradual open capit account would |
| economi | help diversifi domest save make | economi | resili shock would also strengthen |
| also | make economi resili shock would | also | strengthen potenti role renminbi global |
| global | also strengthen potenti role renminbi | global | currenc cours open financi sector |
| polici | must go handinhand strengthen macroeconom | polici | framework constant upgrad regul supervis |
| growth | import step toward improv qualiti | growth | sustain growth import growth sustain |
| growth | toward improv qualiti growth sustain | growth | import growth sustain need inclus |
| growth | qualiti growth sustain growth import | growth | sustain need inclus benefit need |
| need | sustain growth import growth sustain | need | inclus benefit need wide share |
| need | growth sustain need inclus benefit | need | wide share need environment viabl |
| need | inclus benefit need wide share | need | environment viabl mani countri around |
| countri | share need environment viabl mani | countri | around world china econom success |
| econom | mani countri around world china | econom | success came price increas inequ |
| growth | show excess inequ bad sustain | growth | increas opportun educ health care |
| also | reform increas competit social cohes | also | benefit right kind redistribut polici |
| polici | also benefit right kind redistribut | polici | strong safeti net recent work |
| also | safeti net recent work imf | also | show signific econom gain made |
| econom | work imf also show signific | econom | gain made increas particip women |
| market | made increas particip women labor | market | part world per capita gdp |
| market | percent higher gender gap labor | market | close fortun china made import |
| also | field women especi senior posit | also | encourag femal entrepreneurship quarter busi |
| econom | water shortag desertif major health | econom | hazard pose serious risk next |
| growth | factori yet must done make | growth | greener one issu imf emphas |
| countri | one issu imf emphas mani | countri | better price natur resourc stricter |
| need | financi environment area courag commit | need | see easi implement done well |
| global | slowli fear stand still china | global | leadership st centurythi bring third |
| global | bring third final topic china | global | leadership st centuri discuss china |
| econom | leadership st centuri discuss china | econom | leadership global level china also |
| global | centuri discuss china econom leadership | global | level china also affirm global |
| also | econom leadership global level china | also | affirm global leadership mani area |
| global | global level china also affirm | global | leadership mani area technolog exampl |
| also | moon shenzhou spacecraft orbit china | also | lead partner develop mani lowincom |
| countri | lead partner develop mani lowincom | countri | includ africa addit china play |
| global | move forward potenti even greater | global | role mention earlier exampl appropri |
| econom | currenc occupi posit par china | econom | size china also play even |
| also | par china econom size china | also | play even greater role intern |
| also | achiev next transform china help | also | help world inde china success |
| global | inde china success critic success | global | economi step taken clear china |
| economi | china success critic success global | economi | step taken clear china risen |
| also | wu xiaol warm welcom would | also | like acknowledg presenc mr chen |
| economi | generat china transform inwardlook lessdevelop | economi | manufactur powerhous largest trade nation |
| economi | next china grow becom largest | economi | world next generat global leader |
| global | largest economi world next generat | global | leader busi govern civil societi |
| also | govern civil societi excit prospect | also | great challeng context let discuss |
| global | make new world iii import | global | citizenship new st centuri world |
| global | two defin featur today new | global | economi rise asia power interconnect |
| economi | defin featur today new global | economi | rise asia power interconnect less |
| market | less fifti year ago emerg | market | develop countri account less quarter |
| countri | year ago emerg market develop | countri | account less quarter global gdp |
| global | develop countri account less quarter | global | gdp today half rise rapid |
| global | half rise rapid like twothird | global | gdp within next decad asia |
| growth | china particular key driver astound | growth | come remark rise global middl |
| global | astound growth come remark rise | global | middl class rise aspir global |
| global | global middl class rise aspir | global | citizen fact studi claim global |
| global | global citizen fact studi claim | global | middl class exceed billion peopl |
| global | billion peopl billion today new | global | economi continu expand also continu |
| economi | peopl billion today new global | economi | continu expand also continu draw |
| also | new global economi continu expand | also | continu draw closer togeth countri |
| countri | also continu draw closer togeth | countri | today interconnect way would unimagin |
| global | mother father age think trade | global | volum grown exponenti global suppli |
| global | trade global volum grown exponenti | global | suppli chain half total manufactur |
| countri | import intermedi made compon differ | countri | manufactur hub asian suppli chain |
| global | financi flow two decad crisi | global | bank lend share world gdp |
| countri | share world gdp rose percent | countri | like china open global economi |
| global | percent countri like china open | global | economi financi flow increas take |
| economi | countri like china open global | economi | financi flow increas take differ |
| economi | driven larg part asia emerg | economi | today china exampl virtual everyon |
| growth | green mean think serviceschina current | growth | model made manufactur hub world |
| global | innov topnotch educ system modern | global | integr financi system key certain |
| economi | percent gdp par mani advanc | economi | china rank first global term |
| global | advanc economi china rank first | global | term assess read mathemat scienc |
| also | innov invest must sustain expand | also | need internation benefit greater collabor |
| need | invest must sustain expand also | need | internation benefit greater collabor knowledg |
| countri | greater collabor knowledg exchang across | countri | innov enterpris also requir modern |
| also | exchang across countri innov enterpris | also | requir modern resili financi sector |
| global | financi system turn domesticallyori institut | global | player futur supervisor regul integr |
| need | supervisor regul integr financi system | need | ensur player abid rule safeguard |
| global | rule safeguard financi stabil domest | global | big lesson learn financi crisi |
| econom | think inclus mani part world | econom | growth come expens rise inequ |
| growth | inclus mani part world econom | growth | come expens rise inequ china |
| growth | unequ societi grow less grow | growth | less sustain inequ also erod |
| also | grow growth less sustain inequ | also | erod social fabric improv access |
| polici | overcom inequ right kind redistribut | polici | progress taxat strong safeti net |
| also | progress taxat strong safeti net | also | help lao tzu wise said |
| economi | measur china virtual par advanc | economi | percent labor forc china women |
| growth | famili futur main point make | growth | equit inclus becom sustain sustain |
| growth | equit inclus becom sustain sustain | growth | good china good world help |
| econom | iii think greenchina tremend stride | econom | develop come heavi price tag |
| global | urg china green conscienc import | global | citizenshipwhich bring third last point |
| global | last point import citizenship especi | global | citizenship fastpac interconnect world success |
| need | feed us water nourish us | need | protect resourc turn us call |
| countri | term power decisionmak increas argu | countri | success depend effect cooper other |
| econom | must speak imf premier forum | econom | cooper world today annual checkup |
| countri | world today annual checkup everi | countri | economi call surveil lend countri |
| economi | today annual checkup everi countri | economi | call surveil lend countri time |
| countri | countri economi call surveil lend | countri | time need capac build technic |
| need | call surveil lend countri time | need | capac build technic assist help |
| countri | help analyz spillov effect one | countri | polici other futur feel one |
| polici | analyz spillov effect one countri | polici | other futur feel one valuabl |
| global | feel one valuabl contribut interconnect | global | economi proud great partnership china |
| economi | one valuabl contribut interconnect global | economi | proud great partnership china imf |
| also | year sinc imf found help | also | learn experi continu china side |
| also | side strive fulfil dream let | also | mention chines nation alreadi make |
| countri | support execut board repres member | countri | cours capabl execut director china |
| also | tao zhang graduat tsinghua univers | also | five graduat tsinghua continu replenish |
| global | work work valu bring conclus | global | leader global citizenslet conclud wise |
| global | valu bring conclus global leader | global | citizenslet conclud wise chines proverb |
| global | china alreadi establish leadership posit | global | economi countri continu grow global |
| economi | alreadi establish leadership posit global | economi | countri continu grow global leadership |
| countri | establish leadership posit global economi | countri | continu grow global leadership becom |
| global | global economi countri continu grow | global | leadership becom even import futur |
| global | bright futur heir vast potenti | global | leader make uniqu contribut china |
| global | contribut china entir world becom | global | citizen embrac thank xie xie |
| economi | defin issu face modern chines | economi | year discuss center theme comprehens |
| economi | come particular moment time china | economi | china embark next phase remark |
| global | journey journey propel top tier | global | economi lift hundr million peopl |
| economi | journey propel top tier global | economi | lift hundr million peopl poverti |
| global | destin clear roadmap deep sens | global | respons mean first firm destin |
| econom | first firm destin show great | econom | leadership especi recent global financi |
| global | great econom leadership especi recent | global | financi crisi china eye fix |
| growth | aim higher qualiti inclus sustain | growth | second clear roadmap refer third |
| need | plenum reform blueprint outlin reform | need | reach destin reform ambiti requir |
| global | challeng alway done third deeper | global | respons china share global economi |
| global | deeper global respons china share | global | economi continu rise respons support |
| economi | global respons china share global | economi | continu rise respons support global |
| global | economi continu rise respons support | global | common good global financi stabil |
| global | respons support global common good | global | financi stabil environment sustain global |
| global | global financi stabil environment sustain | global | rule game imf key forum |
| global | game imf key forum kind | global | cooper welcom strengthen partnership china |
| global | dream next generat benefit entir | global | economi look forward fruit discuss |
| economi | next generat benefit entir global | economi | look forward fruit discuss surround |
| global | next great transform china continu | global | econom leadership thank |
| econom | great transform china continu global | econom | leadership thank |
| polici | find new imf studi fiscal | polici | incom inequ incom inequ rise |
| global | consolid mani face part stem | global | financi crisi put distribut impact |
| polici | distribut impact govern tax spend | polici | heart public debat mani countri |
| countri | polici heart public debat mani | countri | cours question much redistribut state |
| econom | redistribut state core polit one | econom | analysi cannot answer think agre |
| econom | achiev distribut object minimum cost | econom | effici design growthfriend effici redistribut |
| polici | design growthfriend effici redistribut fiscal | polici | focus present today may surpris |
| polici | fund engag debat design redistribut | polici | truth matter long time assess |
| polici | time assess effect tax expenditur | polici | effici potenti tradeoff distribut goal |
| polici | goal long import compon imf | polici | advic furthermor design fundsupport program |
| financ | health educ expenditur generat revenu | financ | sustain subject routin address discuss |
| polici | subject routin address discuss redistribut | polici | record protect poor design fundsupport |
| polici | want explor us pursu distribut | polici | effici manner key messag want |
| growth | find averag inequ associ lower | growth | thus fiscal redistribut help support |
| growth | thus fiscal redistribut help support | growth | reduc inequ see divers experi |
| countri | inequ see divers experi across | countri | redistribut polici redistribut fiscal polici |
| polici | divers experi across countri redistribut | polici | redistribut fiscal polici help improv |
| polici | countri redistribut polici redistribut fiscal | polici | help improv effici support growth |
| growth | polici help improv effici support | growth | enhanc human capit lowincom household |
| polici | lowincom household let clear redistribut | polici | generat tradeoff equal effici misconceiv |
| polici | help minim advers effect redistribut | polici | incent work save invest present |
| countri | topic includ trend inequ experi | countri | use redistribut polici option achiev |
| polici | inequ experi countri use redistribut | polici | option achiev effici redistribut let |
| market | repres higher inequ dispos incom | market | incom incom wealth tax cash |
| countri | three decad gini coeffici increas | countri | indic increas inequ latin america |
| economi | latin america highest inequ advanc | economi | lowest recent great attent rise |
| countri | top incom earner trend across | countri | appear mix economi unit state |
| economi | trend across countri appear mix | economi | unit state south africa share |
| global | top one percent emphas impact | global | new technolog other highlight polici |
| polici | global new technolog other highlight | polici | choic reduct tax rate other |
| countri | wealth taxat let us turn | countri | experi differ instrument fiscal redistribut |
| economi | instrument fiscal redistribut start advanc | economi | countri alreadi substanti amount redistribut |
| countri | fiscal redistribut start advanc economi | countri | alreadi substanti amount redistribut averag |
| market | alreadi substanti amount redistribut averag | market | incom gini e absenc fiscal |
| countri | public spend health educ hous | countri | select estim inkind transfer reduc |
| market | select estim inkind transfer reduc | market | gini averag percent thus conclud |
| polici | base direct inkind benefit fiscal | polici | play major role reduc inequ |
| economi | major role reduc inequ advanc | economi | although extent vari across countri |
| countri | economi although extent vari across | countri | develop economi develop economi includ |
| economi | extent vari across countri develop | economi | develop economi includ emerg lowincom |
| economi | across countri develop economi develop | economi | includ emerg lowincom countri appear |
| countri | develop economi includ emerg lowincom | countri | appear fiscal polici play much |
| polici | emerg lowincom countri appear fiscal | polici | play much modest role let |
| economi | tax revenu signific lower develop | economi | except emerg europ term composit |
| economi | protect lot social spend develop | economi | well design target actual increas |
| also | percentag poor household receiv benefit | also | low except emerg europ latin |
| also | emerg europ latin america context | also | import note mani develop countri |
| countri | also import note mani develop | countri | use energi subsidi form social |
| economi | group educ health spend develop | economi | also well target exacerb inequ |
| also | educ health spend develop economi | also | well target exacerb inequ mani |
| economi | target exacerb inequ mani develop | economi | exampl poorest percent receiv less |
| polici | area discuss redistribut effect fiscal | polici | advanc develop economi import implic |
| economi | effect fiscal polici advanc develop | economi | import implic design fiscal consolid |
| economi | consolid packag shown paper number | economi | adopt progress adjust measur recent |
| polici | consider design effici redistribut fiscal | polici | first redistribut fiscal polici consist |
| polici | fiscal polici first redistribut fiscal | polici | consist macroeconom polici object level |
| polici | redistribut fiscal polici consist macroeconom | polici | object level spend redistribut exampl |
| financ | exampl increas vat revenu use | financ | higher spend secondari educ could |
| polici | net progress third design redistribut | polici | account redistribut effici object redistribut |
| polici | account redistribut effici object redistribut | polici | may fact enhanc effici strengthen |
| need | strengthen human capit other may | need | manag tradeoff fourth design take |
| also | achiev redistribut object effici could | also | integr design fiscal consolid strategi |
| financ | contribut taxat reduc incom inequ | financ | redistribut spend measur way harm |
| growth | redistribut spend measur way harm | growth | nevertheless tax also direct effect |
| also | way harm growth nevertheless tax | also | direct effect redistribut particular case |
| countri | particular case incom tax start | countri | could consid make incom tax |
| economi | incom tax system progress exampl | economi | flat rate use may scope |
| countri | tax progress top sinc mid | countri | especi central eastern europ central |
| economi | rais extra revenu mani develop | economi | fair equiti could enhanc bring |
| also | inform oper person incom tax | also | scope fulli util properti tax |
| also | revenu effici redistribut instrument appli | also | develop economi colombia namibia russia |
| economi | redistribut instrument appli also develop | economi | colombia namibia russia south africa |
| financ | order effici rais revenu help | financ | propoor spend instanc elimin reduc |
| also | boost equal opportun long run | also | reduc incom inequ advanc economi |
| economi | also reduc incom inequ advanc | economi | entail increas access tertiari educ |
| economi | famili includ scholarship loan develop | economi | strengthen access qualiti secondari educ |
| also | strengthen access qualiti secondari educ | also | requir exampl elimin tuition fee |
| economi | poor health care servic develop | economi | provid head start greater opportun |
| countri | start greater opportun effici manner | countri | includ china ghana india mexico |
| economi | univers coverag recent year advanc | economi | maintain access poor health servic |
| also | health servic period expenditur constraint | also | consist effici redistribut make social |
| economi | make social transfer effici advanc | economi | could greater use activ labor |
| market | could greater use activ labor | market | program inwork benefit social benefit |
| market | requir beneficiari particip activ labor | market | program job train condit receiv |
| economi | condit cash transfer program develop | economi | program make benefit condit attend |
| polici | help keep fiscal cost low | polici | help boost equal opportun incom |
| countri | account onefifth reduct inequ two | countri | strengthen administr capac howev requir |
| economi | requir implement program mani develop | economi | pension play import role reduc |
| economi | role protect elder poor mani | economi | could consid increas effect retir |
| need | increas effect retir age would | need | accompani measur ensur lowerincom worker |
| need | ensur lowerincom worker fulli protect | need | disabl pension social assist unabl |
| economi | social assist unabl work develop | economi | ensur wider coverag pension reason |
| countri | form exist emerg lowincom develop | countri | includ chile ethiopia india south |
| countri | ethiopia india south africa mani | countri | grappl twin challeng put pension |
| also | equit sustain pension challeng experi | also | launch today book examin complex |
| also | system includ generat gender equiti | also | present countri case studi help |
| countri | generat gender equiti also present | countri | case studi help draw lesson |
| economi | end start mani advanc develop | economi | face challeng rise inequ fiscal |
| polici | face challeng rise inequ fiscal | polici | play major role reduc inequ |
| polici | govern affect incom distribut whether | polici | help hurt growth matter design |
| growth | distribut whether polici help hurt | growth | matter design detail matter thus |
| polici | thus debat impact govern redistribut | polici | must go far beyond mere |
| global | global | forum spain stabil growtha prepar | |
| economi | carlo lui de guindo minist | economi | competit ià ± aki azcuna |
| econom | best exampl region risen challeng | econom | advers chang adapt seri ambiti |
| also | success urban transform mani way | also | stori europ spain crisi inde |
| global | stori europ spain crisi inde | global | financi crisi challeng mani core |
| econom | financi crisi challeng mani core | econom | model polici framework rais spectr |
| polici | challeng mani core econom model | polici | framework rais spectr catastroph outcom |
| need | europ radic solut ambiti reform | need | thank formid action past five |
| growth | corner yet task far finish | growth | remain low unemploy high us |
| growth | speak two main theme roadmap | growth | job europelet start europ euro |
| growth | eas somewhat project januari place | growth | euro area percent percent good |
| countri | percent good news yet mani | countri | unemploy still unaccept high especi |
| also | ecb price stabil object percent | also | loom could derail recoveri europ |
| need | loom could derail recoveri europ | need | attain trajectori strong sustain growth |
| growth | need attain trajectori strong sustain | growth | job creation see three key |
| also | effici resolut effect common backstop | also | need token restor bank health |
| need | resolut effect common backstop also | need | token restor bank health essenti |
| polici | prioriti sustain demand monetari fiscal | polici | ecb alreadi taken number strong |
| polici | help euro area even accommod | polici | target measur need address low |
| need | even accommod polici target measur | need | address low belowtarget inflat achiev |
| growth | low belowtarget inflat achiev last | growth | job term fiscal stanc plan |
| growth | union one abl sustain higher | growth | job roadmap growth job spainlet |
| growth | sustain higher growth job roadmap | growth | job spainlet turn spain good |
| growth | good news spain turn corner | growth | resum second half year unemploy |
| econom | unemploy employ gradual improv financi | econom | condit improv signific fact spain |
| economi | time year inde even weak | economi | play role fact remain one |
| countri | current account improv major advanc | countri | without exchang rate depreci spain |
| need | bank transpar assess bank recapit | need | forc fill shortfal includ billion |
| market | uncheck second pillar packag labor | market | reform crisi brought fore long |
| market | long stand problem spanish labor | market | labor reform packag major step |
| economi | forward help employ recov even | economi | start expand third final pillar |
| financ | measur along stronger control region | financ | allow fiscal posit improv appreci |
| growth | confid higher competit critic job | growth | outstand agendayet case europ spain |
| also | erod chanc get job futur | also | deepli distress unemploy among young |
| market | noth wors young entrant labor | market | dream potenti sap blight unemploy |
| econom | youth leav longlast person social | econom | scar includ reduct lifetim earn |
| need | earn prioriti go forwardso spain | need | embark trajectori perman higher growth |
| growth | need embark trajectori perman higher | growth | employ remind presid rajoy said |
| market | progress crucial first area labor | market | reform need deepen work firm |
| need | first area labor market reform | need | deepen work firm worker need |
| need | need deepen work firm worker | need | assur reach appropri agreement work |
| need | essenti job protect creat worker | need | direct support well enhanc skill |
| need | work second area concern debt | need | lower firm mean help insolv |
| need | third final area busi environ | need | strengthen make easier busi start |
| also | employ make domest firm competit | also | boost employ product govern plan |
| growth | agenda collect respons restor strong | growth | put million peopl back work |
| countri | confer first step multiyear collabor | countri | author expert asia pacif region |
| global | project grow rapid increas share | global | gdp percent percent accompani growth |
| growth | global gdp percent percent accompani | growth | equal impress increas size asia |
| global | size asia financi sector percent | global | bank sector asset percent time |
| countri | time period trade among asian | countri | asia rest world grown rapid |
| also | new place invest asia interconnected | also | grow chang new risk new |
| global | learn outsid asia histori repeat | global | financi crisi organ talk follow |
| global | financi crisi help region weather | global | crisi better region lay new |
| global | region lay new risk emerg | global | crisi final suggest way contain |
| econom | embark ambiti broad rang program | econom | financi sector reform follow asian |
| need | crisi progress bank repair still | need | fulli address second gap identifi |
| polici | bank supervis adopt risk manag | polici | includ rule corpor govern disclosur |
| economi | conduct regular examin mani asian | economi | also invest modern market infrastructur |
| also | regular examin mani asian economi | also | invest modern market infrastructur ensur |
| market | asian economi also invest modern | market | infrastructur ensur financi sector abl |
| countri | rapid grow region author mani | countri | institut measur encourag develop local |
| market | encourag develop local currenc bond | market | effect reduc doubl mismatch currenc |
| polici | asian author realiz valu macroprudenti | polici | ensur financi stabil routin respond |
| global | financi imbal look back start | global | financi crisi strike see much |
| economi | financi system system mani advanc | economi | clear wide rang indic leverag |
| economi | indic leverag built extent advanc | economi | neither system reliant wholesal fund |
| growth | swift contain privat sector credit | growth | moder among five larg asean |
| economi | moder among five larg asean | economi | averag credit growth percent even |
| growth | larg asean economi averag credit | growth | percent even home countri spain |
| countri | credit growth percent even home | countri | spain period percent gfc credit |
| countri | credit deposit ratio advanc asian | countri | averag around euro area peripheri |
| economi | riskweight asset among advanc asian | economi | ratio percent asean percent dispar |
| countri | collater debt oblig minim japan | countri | exposur instrument major sourc instabl |
| global | instabl u materi risk culmin | global | crisi bank net foreign asset |
| also | extern liabil thus rollov risk | also | low nonperform loan remain small |
| countri | remain small share total loan | countri | though add number tend high |
| economi | tend high side transpar asian | economi | bank predomin stateown fourth asian |
| econom | debt provid sound basi robust | econom | expans fifth exchang rate regim |
| countri | made credibl resili signific mani | countri | allow currenc depreci global crisi |
| global | mani countri allow currenc depreci | global | crisi sometim larg amount cushion |
| polici | intern reserv final asia reestablish | polici | credibl clear communic realist polici |
| polici | polici credibl clear communic realist | polici | goal track record achiev reform |
| countri | sinc mid last year mani | countri | use buffer built good time |
| global | higher interest rate face tighten | global | financi condit follow fed announc |
| countri | taper asset purchas cours individu | countri | circumst matter countri india indonesia |
| countri | cours individu countri circumst matter | countri | india indonesia larg macroeconom imbal |
| market | author clear help calm financi | market | iii post global financi crisi |
| global | calm financi market iii post | global | financi crisi new challeng look |
| global | larg bank u europ aftermath | global | crisi govern simpli could allow |
| global | expand asia face mani challeng | global | recognit problem led regulatori respons |
| global | mani nation author despit measur | global | bank continu grow size complex |
| growth | perceiv system risk equal worrisom | growth | shadow bank well regul also |
| also | growth shadow bank well regul | also | like lead buildup system risk |
| countri | buildup system risk true asian | countri | today rapid innov often complet |
| need | system risk even difficult supervisor | need | ask whether framework place manag |
| growth | regulatori challeng emerg despit world | growth | trade engin asia financi integr |
| economi | world capit account open asian | economi | especi india china region integr |
| countri | larg pool save increas invest | countri | region asian financi institut also |
| also | countri region asian financi institut | also | increas presenc frontier market africa |
| market | institut also increas presenc frontier | market | africa tend make asia financi |
| countri | like europ address risk cross | countri | exposur integr part financi supervis |
| countri | new risk identifi new risk | countri | make sure regulatori supervisori agenc |
| countri | area imf late close collabor | countri | author around world improv abil |
| also | implement monitor complianc financi institut | also | suffici intrus assess bank institut |
| also | control will address challeng crise | also | upsw growth credit make investor |
| growth | address challeng crise also upsw | growth | credit make investor unwil curb |
| also | curb risk take investor must | also | due dilig must understand natur |
| also | dilig must understand natur hold | also | potenti conflict interest factor might |
| market | interest factor might color assess | market | particip vulner detect essenti take |
| also | must address soon recogn time | also | ensur damag financi sector go |
| growth | buildup uncertainti lay foundat recoveri | growth | hand excess forbear allow unhealthi |
| global | oper multipl jurisdict key lesson | global | financi crisi hope complex crossbord |
| economi | resolut power miss nation level | economi | hard hit east asian financi |
| countri | power place still lack mani | countri | includ asia effort need nation |
| need | mani countri includ asia effort | need | nation level ensur resolut author |
| polici | world greater interconnected macroprudenti policymacroprudenti | polici | receiv great deal attent sinc |
| countri | world leader framework function mani | countri | across region increas empir evid |
| polici | across region increas empir evid | polici | increas resili financi system dampen |
| polici | without lead excess distort macroprudenti | polici | aim encourag buildup stronger financi |
| countri | boom household debt see asian | countri | expans tool may appropri tool |
| market | system risk target financi institut | market | high interconnect within across nation |
| need | surcharg system bank help measur | need | ensur asian bank remain manag |
| growth | address challeng earli guid rapid | growth | way encourag smaller less system |
| polici | system riski bank hand macroprudenti | polici | use control target asset price |
| polici | aggreg demand shift task macroeconom | polici | addit sinc pursuit price stabil |
| need | stabil lead financi sector imbal | need | coordin macroprudenti monetari polici iv |
| polici | imbal need coordin macroprudenti monetari | polici | iv conclusiona asia econom growth |
| econom | monetari polici iv conclusiona asia | econom | growth continu lead world expans |
| growth | polici iv conclusiona asia econom | growth | continu lead world expans financi |
| global | us learn lesson asian well | global | financi crise began today show |
| also | world fastest grow financi system | also | safest |
| also | world premier center higher learn | also | good fortun link world lead |
| econom | host shoven director stanford institut | econom | polici research tino cuellar director |
| polici | shoven director stanford institut econom | polici | research tino cuellar director freeman |
| global | meet would like share view | global | econom situat unemploy high public |
| econom | would like share view global | econom | situat unemploy high public privat |
| global | high public privat debt high | global | growth low relat potenti certain |
| growth | public privat debt high global | growth | low relat potenti certain see |
| econom | low relat potenti certain see | econom | momentum work global econom growth |
| global | certain see econom momentum work | global | econom growth  ¾ percent |
| econom | see econom momentum work global | econom | growth  ¾ percent year |
| growth | econom momentum work global econom | growth | Â ¾ percent year rise |
| growth | percent next year latest pickup | growth | larg due posit develop among |
| countri | due posit develop among advanc | countri | certain us also japan euro |
| also | among advanc countri certain us | also | japan euro area iron emerg |
| market | japan euro area iron emerg | market | kept global economi afloat crisi |
| global | area iron emerg market kept | global | economi afloat crisi togeth develop |
| economi | iron emerg market kept global | economi | afloat crisi togeth develop economi |
| economi | economi afloat crisi togeth develop | economi | account threequart global econom growth |
| global | togeth develop economi account threequart | global | econom growth recent year weaken |
| econom | develop economi account threequart global | econom | growth recent year weaken econom |
| growth | economi account threequart global econom | growth | recent year weaken econom cycl |
| econom | econom growth recent year weaken | econom | cycl turn growth slow rise |
| growth | year weaken econom cycl turn | growth | slow rise tide came choppi |
| growth | tide came choppi wave strong | growth | open vulner came focus growth |
| growth | growth open vulner came focus | growth | began slow time econom situat |
| econom | focus growth began slow time | econom | situat improv us us feder |
| polici | process dial back unconvent monetari | polici | mix creat condit capit flow |
| market | condit capit flow number emerg | market | thus generat market volatil currenc |
| market | number emerg market thus generat | market | volatil currenc variat circumst part |
| polici | variat circumst part caution monetari | polici | remain accommod mani advanc economi |
| economi | polici remain accommod mani advanc | economi | ii countri continu bring hous |
| countri | accommod mani advanc economi ii | countri | continu bring hous order take |
| polici | bring hous order take appropri | polici | action adopt credibl polici framework |
| polici | appropri polici action adopt credibl | polici | framework implement structur reform iii |
| polici | structur reform iii communic amongst | polici | maker improv return meet g |
| economi | end know g group largest | economi | world instrument fight global financi |
| global | largest economi world instrument fight | global | financi crisi remain key forum |
| global | crisi remain key forum discuss | global | econom financi issu exampl g |
| econom | remain key forum discuss global | econom | financi issu exampl g member |
| also | crise g govern central bank | also | agre clear consist communic polici |
| polici | also agre clear consist communic | polici | action continu cooper monitor spillov |
| countri | action continu cooper monitor spillov | countri | discuss also right focus countryspecif |
| also | cooper monitor spillov countri discuss | also | right focus countryspecif well collect |
| econom | well collect effort restor mediumterm | econom | growth fulli implement could rais |
| growth | collect effort restor mediumterm econom | growth | fulli implement could rais level |
| polici | mani risk could undermin recoveri | polici | maker broad right track yet |
| also | maker broad right track yet | also | need discuss kind growth right |
| need | broad right track yet also | need | discuss kind growth right track |
| growth | yet also need discuss kind | growth | right track lead solid sustain |
| need | fragil errat unbalanc answer question | need | look pattern econom activ year |
| econom | answer question need look pattern | econom | activ year ahead especi role |
| economi | first new technolog era mean | economi | especi job second relat one |
| economi | educ refer new multilater technolog | economi | let begin interlinkag technolog economi |
| economi | economi let begin interlinkag technolog | economi | innov push ahead warp speed |
| global | oldfashion radio advanc center rise | global | digit network hyperconnect world combin |
| global | sinc technolog power giant leap | global | interconnect connect brain look trend |
| econom | intellig mean live livelihood common | econom | futur easi enough conjur bright |
| also | center fifteenhour work week yet | also | alltooeasi imagin futur grim line |
| econom | product far import driver longterm | econom | growth say product kind advanc |
| growth | far import driver longterm econom | growth | say product kind advanc technolog |
| need | matter time show data certain | need | keep eye one biggest worri |
| econom | problem call technolog unemploy happen | econom | labor faster find new use |
| need | term job creation mean might | need | sprint faster year ahead mayb |
| countri | work across globe unemploy form | countri | would fifth largest world add |
| countri | richest percent increas share incom | countri | data us share incom taken |
| economi | fallen past two decad advanc | economi | even though labor product risen |
| economi | lowest skill toughest time today | economi | us unemploy rate peopl without |
| need | etho alway serv stanford well | need | think like year come manag |
| econom | come manag care rise inequ | econom | exclus pernici effect undermin econom |
| econom | econom exclus pernici effect undermin | econom | social perhap even polit stabil |
| growth | skew incom distribut pace sustain | growth | longer term also know work |
| also | pace sustain growth longer term | also | know work imf care design |
| polici | imf care design tax spend | polici | help reduc inequ think improv |
| polici | social program make taxat progress | polici | aim counter inequ hard design |
| econom | ahead longer enough look simpli | econom | growth need ask growth inclus |
| growth | longer enough look simpli econom | growth | need ask growth inclus whether |
| need | enough look simpli econom growth | need | ask growth inclus whether small |
| growth | simpli econom growth need ask | growth | inclus whether small boat rise |
| econom | take step back make new | econom | age enhanc rather diminish human |
| need | think strateg enough area fundament | need | chang peopl learn peopl learn |
| need | craftsmanship given rate pace chang | need | abil constant adapt chang lifelong |
| also | present futur old new must | also | build endur platform mean new |
| global | platform mean new way think | global | economi new multilater stakehold take |
| economi | mean new way think global | economi | new multilater stakehold take joint |
| global | multilater stakehold take joint respons | global | common good break border barrier |
| global | channel hyperconnect world get grip | global | problem longer amen nation solut |
| econom | think imf exampl fund essenti | econom | club member countri commit work |
| countri | fund essenti econom club member | countri | commit work togeth help time |
| need | commit work togeth help time | need | secur knowledg help one help |
| also | old adapt world interconnect network | also | diffus dispers term power decis |
| global | made fulli repres chang dynam | global | economi includ shift toward dynam |
| economi | fulli repres chang dynam global | economi | includ shift toward dynam emerg |
| market | includ shift toward dynam emerg | market | work hard new multilater must |
| also | work hard new multilater must | also | encompass dens web network coalit |
| global | network coalit deepli embed fabric | global | economi think rise citi multin |
| economi | coalit deepli embed fabric global | economi | think rise citi multin corpor |
| global | civil societi organ thank technolog | global | reach mani differ type actor |
| global | mani differ type actor new | global | stage challeng work cohes togeth |
| global | write next great act grand | global | destini conclus let conclud agre |
| polici | loss sovereignti understood central monetari | polici | could carri risk countri specif |
| countri | monetari polici could carri risk | countri | specif shock could go unaddress |
| financ | member could lead pressur monetari | financ | address risk kind fiscal coordin |
| need | kind fiscal coordin integr would | need | accompani monetari union recogn macdougal |
| need | loss sovereignti polit feasibl compromis | need | one would mitig risk time |
| growth | framework implement agreement like stabil | growth | pact tri resolv tension put |
| countri | thought generous enough would enabl | countri | respond effect shock restrict enough |
| countri | effect shock restrict enough ensur | countri | debt deficit could spiral outofcontrol |
| market | much bailout claus suppos encourag | market | disciplin sovereign price debt accord |
| countri | start though practic differ theori | countri | e g greec itali allow |
| countri | adher fiscal rule spotti chart | countri | move complianc sanction prescrib fiscal |
| market | suspend franc germani fell noncompli | market | govern understood guidelin best rather |
| market | rule even without fiscal rule | market | disciplin suppos failsaf reinforc bailout |
| economi | foreign asset posit euro area | economi | chart larg reflect privat sector |
| market | debt part ultim assum govern | market | disciplin seem broke perhap market |
| market | market disciplin seem broke perhap | market | understood econom financi integr euro |
| econom | seem broke perhap market understood | econom | financi integr euro area made |
| market | focus sustain public sector relianc | market | disciplin understand benefit hindsight clear |
| countri | privat sector leverag signific know | countri | greatest precrisi privat balanc sheet |
| growth | sheet vulner one weakest postcrisi | growth | chart persist current account imbal |
| countri | concern exampl higher precrisi leverag | countri | household sector lower growth consumpt |
| growth | leverag countri household sector lower | growth | consumpt follow crisi chart b |
| growth | correl corpor leverag futur invest | growth | chart c bank know high |
| polici | make crisi wors similar fiscal | polici | supervis financi sector resolut financi |
| polici | nation author howev unlik fiscal | polici | set rule embed maastricht ensur |
| market | financi sector unsurpris financi regul | market | practic vari substanti across member |
| countri | practic vari substanti across member | countri | time introduct singl currenc facilit |
| market | materi result pervas persist financi | market | fragment euro area led unhealthi |
| polici | banksovereign link impair transmiss monetari | polici | weigh pace strength recoveri view |
| polici | angl maastricht preemin focus fiscal | polici | limit identif risk effect polici |
| polici | polici limit identif risk effect | polici | respons polici progress completethat said |
| polici | identif risk effect polici respons | polici | progress completethat said collect action |
| polici | toward bank union unpreced monetari | polici | respons e g ltros omt |
| market | architectur robust remain incomplet financi | market | fragment persist recoveri weak fragil |
| also | architectur must aim minim occurr | also | scope disrupt economi moreov market |
| economi | minim occurr also scope disrupt | economi | moreov market disciplin work play |
| market | also scope disrupt economi moreov | market | disciplin work play complementari role |
| economi | common institut framework increas flexibl | economi | emu becom resili done first |
| polici | emu becom resili done first | polici | improv market disciplin put place |
| market | resili done first polici improv | market | disciplin put place need support |
| need | improv market disciplin put place | need | support clear rule bailin harmon |
| countri | crisi minim fiscal impact one | countri | second polici structur mention place |
| polici | fiscal impact one countri second | polici | structur mention place especi effect |
| need | welcom process suffer two shortcom | need | address requir greater emphasi emerg |
| market | mechan fourth deeper broader capit | market | need diversifi fund sourc firm |
| need | fourth deeper broader capit market | need | diversifi fund sourc firm would |
| market | relianc bank sector promot develop | market | concert polici action euro area |
| polici | sector promot develop market concert | polici | action euro area nation level |
| need | action euro area nation level | need | address regulatori legal structur hurdl |
| polici | share approach element central fiscal | polici | would expand scope avail countercycl |
| polici | scope avail countercycl tool nation | polici | constrain limit market access fiscal |
| market | tool nation polici constrain limit | market | access fiscal rule would avoid |
| growth | loos one expans sixth enhanc | growth | prospect need process monitor enforc |
| need | expans sixth enhanc growth prospect | need | process monitor enforc structur reform |
| market | proactiv advoc growthenhanc reform product | market | reform open profession servic telecom |
| also | electr could provid import boost | also | need harmon labor market regul |
| need | could provid import boost also | need | harmon labor market regul facilit |
| market | boost also need harmon labor | market | regul facilit much greater mobil |
| economi | peopl work would place european | economi | higher growth path help bring |
| growth | would place european economi higher | growth | path help bring elev level |
| also | bring elev level debt would | also | make economi resili shock help |
| economi | level debt would also make | economi | resili shock help eas adjust |
| growth | maintain integr coupl step boost | growth | creat durabl foundat continu prosper |
| countri | unit state purpos meet counterpart | countri | plan noth less reconstruct global |
| global | countri plan noth less reconstruct | global | econom order nation gather bretton |
| econom | plan noth less reconstruct global | econom | order nation gather bretton wood |
| global | flow font cooper belief broad | global | interest trump narrow selfinterest origin |
| econom | debt gratitud work seen unpreced | econom | financi stabil past seven decad |
| econom | howev come great recess worst | econom | crisi great test generat thank |
| global | moment face forefath centuri ago | global | economi chang beyond recognit move |
| economi | face forefath centuri ago global | economi | chang beyond recognit move industri |
| need | world children grandchildren inherit us | need | ask question kind world want |
| global | domin come decad increas tension | global | interconnect econom sustain would like |
| econom | decad increas tension global interconnect | econom | sustain would like make propos |
| global | new multilater st centuri tension | global | interconnectionsi start first major current |
| global | start first major current tension | global | interconnect world simultan come closer |
| global | year lead look great link | global | economi past decad one thing |
| economi | lead look great link global | economi | past decad one thing world |
| countri | contractor across world financi link | countri | also grown sharpli two decad |
| also | across world financi link countri | also | grown sharpli two decad crisi |
| countri | rose percent expect rise futur | countri | dive financi nexus global economi |
| global | futur countri dive financi nexus | global | economi also live communic revolut |
| economi | countri dive financi nexus global | economi | also live communic revolut produc |
| also | dive financi nexus global economi | also | live communic revolut produc starburst |
| growth | tangibl benefit million peopl higher | growth | greater converg live standard dream |
| also | twist turn channel bring converg | also | bring contagion global economi becom |
| global | bring converg also bring contagion | global | economi becom even prone instabl |
| economi | converg also bring contagion global | economi | becom even prone instabl manag |
| global | frequent damag consid exampl recent | global | financi crisi began mortgag market |
| market | global financi crisi began mortgag | market | suburban america spread around world |
| global | idea express could virtual mob | global | platform promot intoler hatr instead |
| global | toward divers geograph region divers | global | stakehold unlik integr forefath experienc |
| global | one major megatrend time shift | global | power west east north south |
| market | myriad fifti year ago emerg | market | develop economi account quarter world |
| economi | year ago emerg market develop | economi | account quarter world gdp today |
| also | within next decad diffus power | also | goe beyond countri relationship extend |
| countri | diffus power also goe beyond | countri | relationship extend whole host network |
| global | host network institut inhabit fabric | global | societi think rise nexus nongovern |
| econom | corpor sit among world top | econom | bodi term sheer size think |
| also | sheer size think power citi | also | list top continu grow percent |
| also | world popul live citi think | also | rise aspir citizen feel increas |
| global | part yet quit adjust interconnect | global | villag global middl class could |
| global | quit adjust interconnect global villag | global | middl class could top billion |
| global | thing done reach consensus issu | global | import risk world integr econom |
| econom | global import risk world integr | econom | financi technolog fragment term power |
| econom | extrem requir new solut tension | econom | sustainabilityw also need solut second |
| also | new solut tension econom sustainabilityw | also | need solut second broad current |
| need | solut tension econom sustainabilityw also | need | solut second broad current domin |
| econom | current domin next decad tension | econom | sustain stay strong slow cours |
| growth | strong slow cours immedi prioriti | growth | get beyond financi crisi began |
| market | six year ago still us | market | remind us day requir sustain |
| growth | bank system structur impedi competit | growth | left us unaccept high level |
| global | shift environment degrad incom inequ | global | interconnect problem would look familiar |
| also | old peopl children geograph distribut | also | chang young popul region like |
| countri | problem end demograph spectrum youth | countri | gray countri right young countri |
| countri | demograph spectrum youth countri gray | countri | right young countri see youth |
| countri | countri gray countri right young | countri | see youth bulg almost three |
| global | almost three billion peopl half | global | popul could prove boon bane |
| countri | suffici strateg proactiv way age | countri | differ problem cours face slow |
| growth | differ problem cours face slow | growth | precis time need take care |
| need | face slow growth precis time | need | take care retir generat peopl |
| countri | creat tension migrat young old | countri | might help releas pressur end |
| also | releas pressur end yet could | also | inflam tension brain drain could |
| countri | could sap product potenti sourc | countri | sudden influx peopl could erod |
| countri | could erod social cohes host | countri | fuel nation yes migrat help |
| need | chang human hubri natur environ | need | sustain us instead turn us |
| also | get energi price right must | also | part solut think subsid behavior |
| countri | ate almost trillion total gdp | countri | like itali russia worst part |
| countri | keen awar incom inequ rise | countri | seven ten peopl world today |
| countri | ten peopl world today live | countri | inequ increas past three decad |
| countri | year enough elimin absolut poverti | countri | twice fact like surpris inequ |
| global | fact like surpris inequ increas | global | communiti radar screen surpris everyon |
| econom | economist underestim import inequ focus | econom | growth size pie rather distribut |
| growth | underestim import inequ focus econom | growth | size pie rather distribut today |
| growth | skew incom distribut pace sustain | growth | longer term lead economi exclus |
| economi | sustain growth longer term lead | economi | exclus wasteland discard potenti easi |
| polici | inequ care design tax spend | polici | think make taxat progress improv |
| polici | effect target social program yet | polici | hard design creat winner loser |
| need | creat resist requir courag nevertheless | need | get grip make sure inclus |
| growth | sure inclus given much weight | growth | design polici yes need inclus |
| polici | given much weight growth design | polici | yes need inclus growth inclus |
| need | weight growth design polici yes | need | inclus growth inclus opportun econom |
| growth | design polici yes need inclus | growth | inclus opportun econom life also |
| econom | need inclus growth inclus opportun | econom | life also mean less cronyism |
| also | growth inclus opportun econom life | also | mean less cronyism corrupt must |
| also | mean less cronyism corrupt must | also | rise top polici agenda one |
| polici | corrupt must also rise top | polici | agenda one dimens inequ wish |
| econom | one close heart talk inclus | econom | life must sure talk gender |
| countri | fulfil potenti develop world rich | countri | intern labor organ estim million |
| econom | face retic marketplac mind yet | econom | fact life crystal clear let |
| global | women particip equal foot men | global | econom game changer must let |
| econom | particip equal foot men global | econom | game changer must let women |
| global | tonight main pressur point domin | global | economi year come tension come |
| economi | main pressur point domin global | economi | year come tension come togeth |
| global | realli boil simpl question cooper | global | famili confront across trench insular |
| global | renew commit intern cooper put | global | interest selfinterest multilater luther king |
| need | lesson new era moment time | need | choos etho need rekindl bretton |
| need | moment time need choos etho | need | rekindl bretton wood spirit serv |
| need | serv us well mean howev | need | go back draw board thank |
| global | might call concret hard form | global | govern also number soft instrument |
| also | concret hard form global govern | also | number soft instrument g one |
| need | hard soft exampl soft cooper | need | look right london five year |
| countri | london five year ago g | countri | ralli turn back tide crisi |
| countri | new lend commit disburs billion | countri | need provid technic assist percent |
| need | lend commit disburs billion countri | need | provid technic assist percent member |
| global | made fulli repres chang dynam | global | economi work broad new multilater |
| economi | fulli repres chang dynam global | economi | work broad new multilater must |
| also | encompass emerg power across globe | also | expand network coalit deepli embed |
| global | network coalit deepli embed fabric | global | economi new multilater must capac |
| economi | coalit deepli embed fabric global | economi | new multilater must capac listen |
| also | respond new voic new multilater | also | need agil make sure soft |
| need | new voic new multilater also | need | agil make sure soft hard |
| need | form collabor complement rather compet | need | promot longterm perspect global mental |
| global | compet need promot longterm perspect | global | mental decis short term overcom |
| need | temptat toward insular muddl fundament | need | instil broader sens social respons |
| global | social respons part player modern | global | economi need instil valu global |
| economi | respons part player modern global | economi | need instil valu global civil |
| need | part player modern global economi | need | instil valu global civil market |
| global | global economi need instil valu | global | civil market economi global guild |
| market | need instil valu global civil | market | economi global guild hall might |
| economi | instil valu global civil market | economi | global guild hall might mean |
| global | valu global civil market economi | global | guild hall might mean practic |
| global | clear mean mani thing start | global | stakehold take collect respons manag |
| also | mutual benefit trade foreign invest | also | requir collect respons manag intern |
| polici | cooper close mind potenti impact | polici | other turn mean need financi |
| need | impact polici other turn mean | need | financi system st centuri mean |
| economi | mean financi system serv product | economi | rather purpos jurisdict seek advantag |
| global | jurisdict seek advantag provid greater | global | good prevail regulatori structur global |
| global | global good prevail regulatori structur | global | reach mean financi oversight effect |
| need | excess make sure credit get | need | also mean financi structur industri |
| also | make sure credit get need | also | mean financi structur industri take |
| economi | etho serv rather rule real | economi | special reson right citi london |
| global | right citi london financi center | global | reach must financi center global |
| global | global reach must financi center | global | respons due respect admir goe |
| also | hire canadian head bank england | also | need new st centuri multilater |
| need | canadian head bank england also | need | new st centuri multilater get |
| countri | like climat chang inequ issu | countri | stand alon combat climat chang |
| countri | civil societi even privat citizen | countri | also need come togeth address |
| also | societi even privat citizen countri | also | need come togeth address inequ |
| need | even privat citizen countri also | need | come togeth address inequ one |
| countri | togeth address inequ one exampl | countri | compet busi lower tax corpor |
| polici | lao pdr myanmar vietnam macroprudenti | polici | time import pleas abl particip |
| econom | hope contribut discuss grow financi | econom | integr within asia asean econom |
| econom | econom integr within asia asean | econom | communiti launch turn issu discuss |
| global | today discuss broader context trend | global | economi global outlooklast septemb mark |
| economi | discuss broader context trend global | economi | global outlooklast septemb mark fiveyear |
| global | broader context trend global economi | global | outlooklast septemb mark fiveyear mark |
| econom | work latest updat fund world | econom | outlook releas two day ago |
| global | releas two day ago show | global | activ strengthen second half trend |
| economi | improv driven larg recoveri advanc | economi | global growth remain potenti level |
| global | driven larg recoveri advanc economi | global | growth remain potenti level consist |
| growth | larg recoveri advanc economi global | growth | remain potenti level consist econom |
| econom | growth remain potenti level consist | econom | health full employ asia prospectsher |
| econom | full employ asia prospectsher asia | econom | outlook remain robust although risk |
| growth | concentr downsid imf estim asian | growth | hit percent rise  ¼ |
| growth | ¼ percent domest demand drive | growth | recent year extern rebalanc gather |
| countri | extern rebalanc gather steam mani | countri | subdu late result tighter financi |
| polici | result tighter financi condit case | polici | polit uncertainti demand remain healthi |
| market | support even recent tighten labor | market | resili asian export pick recent |
| growth | asian export pick recent month | growth | prospect contin conting sustain recoveri |
| economi | contin conting sustain recoveri advanc | economi | inflat expect remain low major |
| market | asset wave capit outflow emerg | market | springsumm last year overal impact |
| countri | overal impact far manag although | countri | subject greater stress specif countri |
| countri | countri subject greater stress specif | countri | look forward tighter global liquid |
| global | specif countri look forward tighter | global | liquid homegrown structur impedi countri |
| countri | global liquid homegrown structur impedi | countri | weigh growth overal impact part |
| growth | homegrown structur impedi countri weigh | growth | overal impact part offset gradual |
| economi | offset gradual pickup export advanc | economi | domest demand condit tighten like |
| countri | see greater differenti across region | countri | strong fundament credibl polici abl |
| polici | region countri strong fundament credibl | polici | abl offset tighter global credit |
| global | credibl polici abl offset tighter | global | credit lower polici rate fiscal |
| polici | offset tighter global credit lower | polici | rate fiscal support delay reform |
| polici | reform would rebuild confid eas | polici | tradeoff turn topic cover seminar |
| polici | credibl independ central bank macroprudenti | polici | asiaturn macroprudenti polici financi crisi |
| polici | bank macroprudenti polici asiaturn macroprudenti | polici | financi crisi past half decad |
| global | underscor cost system instabl nation | global | level also highlight need dedic |
| also | system instabl nation global level | also | highlight need dedic macroprudenti polici |
| need | nation global level also highlight | need | dedic macroprudenti polici safeguard financi |
| polici | also highlight need dedic macroprudenti | polici | safeguard financi stabil fastestgrow region |
| polici | challeng mani direct implic macroprudenti | polici | among key issu implic financi |
| economi | continu preoccupi policymak especi advanc | economi | undertak futur chang unconvent monetari |
| polici | undertak futur chang unconvent monetari | polici | along need deeper financi market |
| need | chang unconvent monetari polici along | need | deeper financi market asia develop |
| market | polici along need deeper financi | market | asia develop macroprudenti polici enhanc |
| polici | financi market asia develop macroprudenti | polici | enhanc analysi use would import |
| countri | asia sinc asian crisi mani | countri | devot greater attent financi regul |
| global | asia bankdomin financi system come | global | financi crisi general unscath asian |
| countri | relat measur particular mani asean | countri | deploy target escal macroprudenti polici |
| polici | countri deploy target escal macroprudenti | polici | stem vulner relat rise home |
| market | relat rise home price asset | market | exuber taken place environ low |
| global | exuber taken place environ low | global | interest rate surg capit flow |
| market | rate surg capit flow emerg | market | rapid domest credit growth measur |
| growth | emerg market rapid domest credit | growth | measur target area mortgag loan |
| polici | help address vulner enhanc effect | polici | toolsa key question confront asia |
| polici | confront asia enhanc effect macroprudenti | polici | tool without damag free flow |
| polici | region intern cooper effect macroprudenti | polici | essenti limit system risk reduc |
| polici | risk driven real imbal macroprudenti | polici | must support strong supervis enforc |
| polici | monetari fiscal financi sector structur | polici | author also take account potenti |
| also | financi sector structur polici author | also | take account potenti unintend polici |
| polici | also take account potenti unintend | polici | consequ exampl impact trade financ |
| financ | polici consequ exampl impact trade | financ | financi deepen appropri macroeconom polici |
| polici | financ financi deepen appropri macroeconom | polici | could reduc overburden macroprudenti polici |
| polici | polici could reduc overburden macroprudenti | polici | promot better understand monitor transmiss |
| polici | understand monitor transmiss mechan macroprudenti | polici | influenc economi address spillov effectsfin |
| economi | transmiss mechan macroprudenti polici influenc | economi | address spillov effectsfin asian countri |
| countri | economi address spillov effectsfin asian | countri | consid macroprudenti polici could help |
| polici | effectsfin asian countri consid macroprudenti | polici | could help address potenti spillov |
| polici | spillov effect exit unconvent monetari | polici | may help offset risk associ |
| polici | inflow worth explor whether macroprudenti | polici | may help limit advers consequ |
| polici | consequ revers inflow develop macroprudenti | polici | remain work progress hope today |
| polici | macroprudenti measur use asia improv | polici | region learn asia experi imf |
| polici | advis develop implement effect macroprudenti | polici | asia light experi elsewher conclusionlet |
| polici | close reiter policymak mind macroprudenti | polici | like public polici free cost |
| polici | mind macroprudenti polici like public | polici | free cost inevit may tradeoff |
| also | policymak may enhanc system stabil | also | make credit expens lower econom |
| econom | also make credit expens lower | econom | growth balanc benefit cost requir |
| growth | make credit expens lower econom | growth | balanc benefit cost requir difficult |
| polici | today open seminar unconvent monetari | polici | would like thank govern japan |
| also | event hitotsubashi univers coorgan let | also | extend warm welcom everyon today |
| financ | today event one sever initi | financ | japanes govern administ imf region |
| also | capac foster greater intern cooper | also | reflect recognit import close engag |
| global | close engag region weight influenc | global | economi continu increas reason pleas |
| economi | engag region weight influenc global | economi | continu increas reason pleas mani |
| polici | increas reason pleas mani senior | polici | maker asian countri join us |
| countri | mani senior polici maker asian | countri | join us today needless say |
| polici | say focus seminar unconvent monetari | polici | time one highprofil sign ben |
| countri | publish last may septemb multilater | countri | surveil seminar exampl ump one |
| polici | ump spotlight said recent experi | polici | chang macroeconom textbook forev longer |
| polici | lower bound seen render monetari | polici | ineffect statement reson even retrospect |
| global | first ump support financi stabil | global | econom recoveri second ump help |
| econom | ump support financi stabil global | econom | recoveri second ump help hinder |
| economi | second ump help hinder nonump | economi | third policymak exit ump recal |
| global | third policymak exit ump recal | global | financi crisi central bank major |
| economi | crisi central bank major advanc | economi | set monetari polici context establish |
| polici | major advanc economi set monetari | polici | context establish framework stabl bank |
| polici | framework stabl bank system chang | polici | rate swift transmit longerterm real |
| economi | real interest rate affect real | economi | decis consumpt save employ howev |
| market | employ howev crisi impair function | market | jeopard financi stabil rais threat |
| global | jeopard financi stabil rais threat | global | depress deflat respons sever central |
| economi | respons sever central bank advanc | economi | adopt unconvent monetari polici two |
| polici | advanc economi adopt unconvent monetari | polici | two broad goal first restor |
| market | goal first restor function financi | market | import intermedi second support econom |
| econom | market import intermedi second support | econom | activ monetari accommod zero lower |
| polici | serious risk larg due monetari | polici | remain accommod extend period financi |
| polici | risktak behavior driven accommod monetari | polici | goe far prolong asset purchas |
| also | asset purchas context ump may | also | undermin credibl central bank extens |
| growth | difficult structur reform rais longterm | growth | earli effect umpit difficult pin |
| polici | umpit difficult pin exact ramif | polici | impact yet fulli understood still |
| global | say confid ump effect support | global | economi imf assess far posit |
| economi | confid ump effect support global | economi | imf assess far posit first |
| econom | crisi help prevent financi system | econom | activ collaps aggress liquid provis |
| market | bank much expand set recipi | market | success restor financi market function |
| market | recipi market success restor financi | market | function intermedi japan boj largescal |
| market | dollar liquid support corpor fund | market | prevent escal financi sector turmoil |
| also | turmoil worsen recess earli action | also | reduc risk euro area break |
| countri | decreas bond yield euro area | countri | market stress strengthen bank balanc |
| market | bond yield euro area countri | market | stress strengthen bank balanc sheet |
| also | limit potenti sovereignbank linkag ump | also | support global econom activ broad |
| global | sovereignbank linkag ump also support | global | econom activ broad u imf |
| econom | linkag ump also support global | econom | activ broad u imf estim |
| market | imf estim prior last year | market | correct fed quantit eas like |
| econom | qualit monetari eas framework chang | econom | trajectori inflat begun rise reach |
| growth | gain reviv export invest potent | growth | fiscal reform need follow boj |
| need | invest potent growth fiscal reform | need | follow boj also forerunn use |
| also | fiscal reform need follow boj | also | forerunn use ump combat deflat |
| polici | decis action requir broad rang | polici | impact nonump economiesi turn second |
| economi | question ump help hinder nonump | economi | view balanc advanc economi polici |
| economi | nonump economi view balanc advanc | economi | polici also benefici nonump countri |
| polici | economi view balanc advanc economi | polici | also benefici nonump countri awar |
| also | view balanc advanc economi polici | also | benefici nonump countri awar observ |
| countri | economi polici also benefici nonump | countri | awar observ probabl includ peopl |
| countri | suggest aggress monetari accommod ump | countri | respons negat shock benefici nonump |
| countri | respons negat shock benefici nonump | countri | lead higher global growth benefit |
| global | benefici nonump countri lead higher | global | growth benefit ump nonump countri |
| growth | nonump countri lead higher global | growth | benefit ump nonump countri addit |
| countri | global growth benefit ump nonump | countri | addit data show nonump countri |
| countri | countri addit data show nonump | countri | benefit lower cost capit sovereign |
| financ | benefit lower cost capit sovereign | financ | higher equiti price recent paper |
| countri | paper look detail largest nonump | countri | account percent global output capit |
| global | largest nonump countri account percent | global | output capit inflow countri especi |
| countri | percent global output capit inflow | countri | especi asia latin america often |
| financ | prolong period capitalinflow cheap foreign | financ | polici challeng strong capit inflow |
| polici | period capitalinflow cheap foreign financ | polici | challeng strong capit inflow includ |
| economi | posit effect stronger demand advanc | economi | also potenti termsoftrad gain higher |
| also | effect stronger demand advanc economi | also | potenti termsoftrad gain higher global |
| global | also potenti termsoftrad gain higher | global | commod price commod export period |
| countri | explicit talk taper may nonump | countri | manag fair well face capit |
| countri | howev risk eventu begun emerg | countri | cycl start turn said countri |
| countri | countri cycl start turn said | countri | exhibit widespread acut macroeconom financi |
| growth | lossabsorb buffer despit rapid credit | growth | rise current account deficit case |
| countri | testament macroeconom manag crisi action | countri | taken make financi system secur |
| countri | measur case capit control whole | countri | stronger macroeconom polici fundament done |
| polici | control whole countri stronger macroeconom | polici | fundament done better recent sign |
| countri | better recent sign instabl emerg | countri | sector especi respons rise expect |
| countri | reserv initi public discuss taper | countri | weaker fundament open market exhibit |
| market | taper countri weaker fundament open | market | exhibit highest foreign exchang bond |
| market | exhibit highest foreign exchang bond | market | volatil episod still close analyz |
| market | currenc bond capit flow emerg | market | debt fund restart late septemb |
| economi | japan far most flow develop | economi | especi u bond equiti market |
| market | economi especi u bond equiti | market | may earli definit assess japanes |
| growth | japan could increas flow region | growth | market japanes corpor begin diversifi |
| market | could increas flow region growth | market | japanes corpor begin diversifi invest |
| need | exit ump clear safe exit | need | well plan well communic conting |
| economi | plan well communic conting strengthen | economi | lesson appear taken heart sinc |
| polici | come period except loos monetari | polici | convent unconvent come end accommod |
| polici | overlap aim return convent monetari | polici | central bank determin shortterm rate |
| countri | excess reserv creat asset purchas | countri | well complic sell asset accord |
| market | well complic sell asset accord | market | reaction respons economi tighter financi |
| economi | asset accord market reaction respons | economi | tighter financi condit remain uncertain |
| need | made toward percent target see | need | addit monetari accommod communic need |
| need | need addit monetari accommod communic | need | focus manag expect like take |
| need | declin mark number tool may | need | use withdraw liquid start automat |
| market | imf particular imf help emerg | market | cope advers effect ump advanc |
| countri | cope advers effect ump advanc | countri | particular exit imf advis central |
| economi | imf advis central bank advanc | economi | impress set panelist lead discuss |
| also | come ump nonump central bank | also | economist public privat sector well |
| polici | surround ump hope strengthen foster | polici | dialogu intern cooper much look |
| also | new year lunar new year | also | appropri want talk today imf |
| global | want talk today imf see | global | economi wheel time roll yet |
| economi | talk today imf see global | economi | wheel time roll yet anoth |
| also | th anniversari fall berlin wall | also | mark th anniversari financi market |
| market | also mark th anniversari financi | market | jitter quick turn greatest global |
| global | market jitter quick turn greatest | global | econom calam sinc great depress |
| econom | jitter quick turn greatest global | econom | calam sinc great depress crisi |
| econom | way year seven weak year | econom | speak slide seven strong year |
| polici | crisi still requir sustain substanti | polici | effort coordin right polici mix |
| polici | substanti polici effort coordin right | polici | mix let talk start global |
| global | polici mix let talk start | global | outlook touch polici path mind |
| polici | talk start global outlook touch | polici | path mind global outlook risksin |
| global | outlook touch polici path mind | global | outlook risksin day releas updat |
| economi | strengthen larg due improv advanc | economi | yet global growth still stuck |
| global | due improv advanc economi yet | global | growth still stuck low gear |
| growth | improv advanc economi yet global | growth | still stuck low gear remain |
| need | world could creat job would | need | worri global inflat geni come |
| global | creat job would need worri | global | inflat geni come bottl even |
| economi | geni come bottl even advanc | economi | howev outlook still subject signific |
| market | decis year crisi reli emerg | market | keep global economi afloat togeth |
| global | crisi reli emerg market keep | global | economi afloat togeth develop countri |
| economi | reli emerg market keep global | economi | afloat togeth develop countri account |
| countri | global economi afloat togeth develop | countri | account threequart global growth past |
| global | togeth develop countri account threequart | global | growth past half decad howev |
| growth | develop countri account threequart global | growth | past half decad howev grow |
| market | decad howev grow number emerg | market | slow econom cycl turn also |
| econom | grow number emerg market slow | econom | cycl turn also see risk |
| also | market slow econom cycl turn | also | see risk aris financi market |
| market | also see risk aris financi | market | turbul volatil capit flow reaction |
| global | water ahead overal direct posit | global | growth still low fragil uneven |
| growth | ahead overal direct posit global | growth | still low fragil uneven moreov |
| need | job million peopl around world | need | far mani countri benefit growth |
| countri | around world need far mani | countri | benefit growth enjoy far peopl |
| growth | need far mani countri benefit | growth | enjoy far peopl give one |
| polici | top percent recip stabil sustain | polici | agendathi point one thing need |
| need | polici agendathi point one thing | need | stay focus polici need sustain |
| polici | one thing need stay focus | polici | need sustain growth reward job |
| need | thing need stay focus polici | need | sustain growth reward job end |
| growth | stay focus polici need sustain | growth | reward job end need make |
| need | sustain growth reward job end | need | make everybodi better let focus |
| global | case scenario crisi thank effort | global | policymak past half decad central |
| global | difficulti excus histori never accept | global | economi look stabl big prioriti |
| economi | excus histori never accept global | economi | look stabl big prioriti policymak |
| global | big prioriti policymak fortifi feebl | global | recoveri make sustain mean practic |
| economi | make sustain mean practic advanc | economi | particular mean central bank return |
| polici | central bank return convent monetari | polici | robust growth firm root time |
| growth | return convent monetari polici robust | growth | firm root time countri need |
| countri | robust growth firm root time | countri | need use room creat unconvent |
| need | growth firm root time countri | need | use room creat unconvent monetari |
| polici | use room creat unconvent monetari | polici | put place reform need jumpstart |
| need | monetari polici put place reform | need | jumpstart growth job let go |
| growth | put place reform need jumpstart | growth | job let go deeper touch |
| growth | deeper touch briefli differ region | growth | certain pick unit state driven |
| growth | area turn corner recess recoveri | growth | still unbalanc unemploy still worri |
| countri | unbalanc unemploy still worri high | countri | well other still burden high |
| polici | high debt credit constraint monetari | polici | help lot could still target |
| also | review asset qualiti stress test | also | help done evenhand credibl manner |
| also | help done evenhand credibl manner | also | need acceler reform boost labor |
| need | done evenhand credibl manner also | need | acceler reform boost labor market |
| market | need acceler reform boost labor | market | particip enhanc competit japan initi |
| econom | agre mediumterm fiscal adjust social | econom | reform need strengthen growth deregul |
| need | fiscal adjust social econom reform | need | strengthen growth deregul product servic |
| growth | social econom reform need strengthen | growth | deregul product servic market increas |
| market | strengthen growth deregul product servic | market | increas particip women workplac would |
| market | help overcom ogr deflat emerg | market | challeng navig bumpi stay strong |
| need | bubbl rise debt financi regul | need | strengthen implement order better manag |
| countri | manag credit cycl yes mani | countri | also could structur front unlock |
| also | credit cycl yes mani countri | also | could structur front unlock growth |
| growth | also could structur front unlock | growth | potenti includ tackl infrastructur bottleneck |
| countri | infrastructur bottleneck regulatori obstacl lowincom | countri | news general good countri realli |
| countri | lowincom countri news general good | countri | realli becom bright spot time |
| countri | shock includ rais revenu addit | countri | keep spend select import social |
| growth | world asia subsaharan africa saw | growth | Â ½ percent percent last |
| econom | take place part world rise | econom | power march middl class alway |
| also | come away region renew optim | also | rememb arab countri transit arab |
| countri | renew optim also rememb arab | countri | transit arab spring began exact |
| countri | began exact three year ago | countri | grappl reform need unleash dynam |
| need | year ago countri grappl reform | need | unleash dynam privat sector creat |
| need | sector creat job young peopl | need | firm support intern communiti talk |
| also | communiti talk far region yet | also | mani common problem requir common |
| need | current account imbal think reform | need | make financi system safer bring |
| economi | system safer bring servic real | economi | think rise inequ environment degrad |
| global | futur prosper meet rise aspir | global | citizen job secur opportun digniti |
| need | behind found imf move forward | need | spirit cooper global solidar today |
| global | move forward need spirit cooper | global | solidar today especi world interconnect |
| polici | onset crisi provid best possibl | polici | advic one strength look bigger |
| countri | part fit togeth happen one | countri | affect wider global economi role |
| global | happen one countri affect wider | global | economi role sure becom import |
| economi | one countri affect wider global | economi | role sure becom import time |
| need | role sure becom import time | need | continu adapt reflect chang dynam |
| global | continu adapt reflect chang dynam | global | economi membership need continu support |
| economi | adapt reflect chang dynam global | economi | membership need continu support entir |
| need | chang dynam global economi membership | need | continu support entir membership end |
| econom | prepar deliveryintroductionmr presid | econom | social cultur council member govern |
| econom | diplomat corp intern organ member | econom | social cultur council ladi gentlemen |
| countri | speak council import moment great | countri | stand today remind old malian |
| economi | tradit know well prioriti steer | economi | crisi recoveri would like talk |
| economi | upon lay foundat strong resili | economi | dividend growth wide share respect |
| growth | foundat strong resili economi dividend | growth | wide share respect track recordth |
| growth | inde impress mali boast robust | growth | rate percent averag well averag |
| countri | rate percent averag well averag | countri | west african econom monetari union |
| econom | well averag countri west african | econom | monetari union waemu percent mali |
| also | monetari union waemu percent mali | also | one countri subsaharan africa made |
| countri | waemu percent mali also one | countri | subsaharan africa made progress toward |
| econom | mali fastgrow popul larg untap | econom | human potenti challeng today strengthen |
| econom | human potenti challeng today strengthen | econom | fundament acceler growth job creation |
| growth | today strengthen econom fundament acceler | growth | job creation make even meaning |
| growth | even meaning dent poverti ensur | growth | inclus unlock mali potenti requir |
| also | potenti requir signific invest infrastructur | also | countri biggest asset peopl educ |
| countri | requir signific invest infrastructur also | countri | biggest asset peopl educ health |
| growth | appropri skill tool key boost | growth | potenti economi throughout challeng recent |
| economi | tool key boost growth potenti | economi | throughout challeng recent year imf |
| financ | year event last month approv | financ | extend credit facil commit unwav |
| econom | three issu like shape mali | econom | prospect near term global econom |
| global | mali econom prospect near term | global | econom environmentfirst global econom environ |
| econom | econom prospect near term global | econom | environmentfirst global econom environ revis |
| global | near term global econom environmentfirst | global | econom environ revis forecast global |
| econom | term global econom environmentfirst global | econom | environ revis forecast global outlook |
| global | global econom environ revis forecast | global | outlook releas week discuss number |
| economi | five year financi crisi world | economi | gradual mend recoveri uneven subdu |
| growth | driven robust privat sector activ | growth | unit state gain ground impli |
| growth | condit japan import step stimul | growth | europ slowli emerg deep recess |
| market | challeng remain address time emerg | market | economi slow follow sever year |
| economi | remain address time emerg market | economi | slow follow sever year main |
| global | follow sever year main engin | global | growth financi condit advanc economi |
| growth | sever year main engin global | growth | financi condit advanc economi normal |
| economi | global growth financi condit advanc | economi | normal risk heighten volatil financi |
| market | normal risk heighten volatil financi | market | may creat new challeng emerg |
| market | may creat new challeng emerg | market | economi slowdown growth also risk |
| economi | creat new challeng emerg market | economi | slowdown growth also risk potenti |
| growth | challeng emerg market economi slowdown | growth | also risk potenti spillov countri |
| also | emerg market economi slowdown growth | also | risk potenti spillov countri subsaharan |
| countri | growth also risk potenti spillov | countri | subsaharan africa particular financi integr |
| global | subsaharan africa particular financi integr | global | economi includ higher commod price |
| economi | africa particular financi integr global | economi | includ higher commod price foreign |
| countri | world recent year asia mani | countri | growth contribut higher live standard |
| growth | recent year asia mani countri | growth | contribut higher live standard faster |
| global | reserv level shield much region | global | financi crisi improv particular signific |
| growth | subsaharan africa enjoy continu robust | growth | project octob place percent close |
| market | vigil threat slower demand emerg | market | economi unfavor chang commod price |
| economi | threat slower demand emerg market | economi | unfavor chang commod price higher |
| financ | unfavor chang commod price higher | financ | cost opportun revisit issu depth |
| countri | partnership govern mozambiqu subsaharan africa | countri | invit includ minist economi financ |
| economi | africa countri invit includ minist | economi | financ appropri titl africa rise |
| financ | countri invit includ minist economi | financ | appropri titl africa rise confer |
| econom | rise confer take stock africa | econom | success well challeng go forward |
| global | meet unlock mali potenti although | global | outlook suggest relat benign extern |
| countri | relat benign extern environ mali | countri | face difficult challeng emerg turbul |
| econom | right polit stabil essenti good | econom | perform vice versa strong healthi |
| economi | perform vice versa strong healthi | economi | improv prospect polit stabil social |
| growth | stabil social peac foster inclus | growth | individu across broad spectrum economi |
| economi | growth individu across broad spectrum | economi | benefit thrive import part process |
| countri | process mali challeng formid opportun | countri | larg untap econom potenti includ |
| econom | formid opportun countri larg untap | econom | potenti includ wealth natur resourc |
| also | addit job fastgrow popul could | also | increas well diversifi export neighbor |
| countri | increas well diversifi export neighbor | countri | net food import unleash opportun |
| growth | unless address go hold back | growth | lack power instanc big brake |
| need | outag compani forc produc electr | need | drive cost children cannot studi |
| economi | hour collect field forest thrive | economi | also requir strong base human |
| also | collect field forest thrive economi | also | requir strong base human capit |
| polici | invest public well privat sector | polici | agenda inclus growth overarch object |
| growth | privat sector polici agenda inclus | growth | overarch object turn help solidifi |
| need | turn help solidifi dividend invest | need | three p public invest privat |
| econom | take issu turn unlock mali | econom | potenti public sector investmentth first |
| need | action two front first mali | need | mobil tax revenu second need |
| need | need mobil tax revenu second | need | make better use exist resourc |
| also | administr phase exempt improv complianc | also | need make better use exist |
| need | phase exempt improv complianc also | need | make better use exist resourc |
| market | discourag invest hinder develop fair | market | structur distort competit fray social |
| also | hardwon gain debt sustain mali | also | benefit debt relief grant initi |
| financ | continu reli primarili grant concession | financ | support develop project crucial preserv |
| econom | fiscal space creat unlock mali | econom | potenti privat sector investmentso prioriti |
| also | sector second p privat sector | also | key role play unleash mali |
| need | unleash mali potenti right condit | need | place privat sector assum role |
| growth | privat sector assum role engin | growth | requir improv busi environ imf |
| economi | factor promot privat sector expans | economi | progress provid larger pool fund |
| growth | financi develop foster privat sector | growth | help meet infrastructur need let |
| need | sector growth help meet infrastructur | need | let give one exampl struck |
| economi | would stabl resourc provid credit | economi | contract enforc stronger bank would |
| also | develop land titl system could | also | offer greater opportun use land |
| financ | greater opportun use land collater | financ | develop agricultur step toward financi |
| also | financi inclus improv busi environ | also | overal econom environ everyon benefit |
| econom | improv busi environ also overal | econom | environ everyon benefit unlock mali |
| econom | environ everyon benefit unlock mali | econom | potenti particip allthi bring last |
| need | upon opportun develop accord individu | need | ensur overal growth equit inclus |
| growth | accord individu need ensur overal | growth | equit inclus everyon get particip |
| growth | inclus everyon get particip benefit | growth | imf global experi indic balanc |
| global | get particip benefit growth imf | global | experi indic balanc distribut incom |
| growth | balanc distribut incom generat sustain | growth | greater econom stabil mali agricultur |
| econom | incom generat sustain growth greater | econom | stabil mali agricultur expans past |
| econom | seem lag go forward benefit | econom | growth need broad share also |
| growth | lag go forward benefit econom | growth | need broad share also true |
| need | go forward benefit econom growth | need | broad share also true term |
| also | econom growth need broad share | also | true term gender accord recent |
| countri | gender accord recent imf studi | countri | women held back outdat obstacl |
| econom | mali remov obstacl femal particip | econom | activ must rank high polici |
| polici | econom activ must rank high | polici | agenda let frank women key |
| growth | stand readi help mali unlock | growth | potenti togeth let us pick |
| countri | kenya busi communiti colleagu spearhead | countri | extraordinari growth perform achiev vibrant |
| growth | communiti colleagu spearhead countri extraordinari | growth | perform achiev vibrant servic sector |
| econom | kenya privat sector inde kenya | econom | gain past year noth short |
| growth | come heel delic polit transit | growth | remain robust percent set bold |
| econom | remain robust percent set bold | econom | reform laid foundat lift economi |
| economi | econom reform laid foundat lift | economi | middleincom status within next decad |
| also | decad kenya maintain reform momentum | also | import today underlin commit imf |
| global | kenya side mani challeng face | global | downturn drought stood westgat attack |
| also | success complet program week ago | also | work kenyan govern design implement |
| financ | design implement reform support agenda | financ | advic steppedup technic assist say |
| countri | clear point kenya achiev kenya | countri | full ownership reform agenda implement |
| need | great promis look ahead achiev | need | deepen broaden economi made even |
| economi | ahead achiev need deepen broaden | economi | made even resili benefit growth |
| growth | economi made even resili benefit | growth | even wide share among kenyan |
| global | three broad theme immedi outlook | global | economi outlook subsaharan africa final |
| economi | broad theme immedi outlook global | economi | outlook subsaharan africa final key |
| market | kenya achiev quest reach emerg | market | status global econom environmentfirst global |
| global | quest reach emerg market status | global | econom environmentfirst global econom environ |
| econom | reach emerg market status global | econom | environmentfirst global econom environ imf |
| global | market status global econom environmentfirst | global | econom environ imf come revis |
| econom | status global econom environmentfirst global | econom | environ imf come revis forecast |
| global | environ imf come revis forecast | global | outlook week discuss number trend |
| economi | week discuss number trend world | economi | certain better place five year |
| global | height financi crisi wood yet | global | recoveri underway remain uneven subdu |
| economi | recent indic suggest activ advanc | economi | gain momentum particular case unit |
| growth | govern taken import step stimul | growth | europ slowli emerg deep recess |
| market | challeng remain address time emerg | market | economi slow follow sever year |
| economi | remain address time emerg market | economi | slow follow sever year main |
| global | follow sever year main engin | global | growth particular import engin kenya |
| growth | sever year main engin global | growth | particular import engin kenya africa |
| market | kenya africa fact momentum emerg | market | economi key factor soften impact |
| economi | africa fact momentum emerg market | economi | key factor soften impact global |
| global | economi key factor soften impact | global | financi crisi subsaharan africa chang |
| market | crisi subsaharan africa chang emerg | market | economi prospect bound matter concern |
| economi | subsaharan africa chang emerg market | economi | prospect bound matter concern financi |
| economi | matter concern financi condit advanc | economi | normal risk heighten volatil financi |
| market | normal risk heighten volatil financi | market | may creat new challeng emerg |
| market | may creat new challeng emerg | market | economi also risk potenti spillov |
| economi | creat new challeng emerg market | economi | also risk potenti spillov emerg |
| also | new challeng emerg market economi | also | risk potenti spillov emerg market |
| market | also risk potenti spillov emerg | market | economi countri subsaharan africa particular |
| economi | risk potenti spillov emerg market | economi | countri subsaharan africa particular financi |
| countri | potenti spillov emerg market economi | countri | subsaharan africa particular financi integr |
| global | subsaharan africa particular financi integr | global | economi kenya outlook subsaharan africawhich |
| economi | africa particular financi integr global | economi | kenya outlook subsaharan africawhich bring |
| global | begin take right place tabl | global | prosper countri eastern africa particular |
| countri | right place tabl global prosper | countri | eastern africa particular experienc strong |
| growth | eastern africa particular experienc strong | growth | last decad mani countri growth |
| countri | strong growth last decad mani | countri | growth contribut higher live standard |
| growth | growth last decad mani countri | growth | contribut higher live standard poverti |
| growth | subsaharan africa enjoy continu robust | growth | project octob place percent close |
| market | vigil threat slower demand emerg | market | economi unfavor chang commod price |
| economi | threat slower demand emerg market | economi | unfavor chang commod price higher |
| financ | unfavor chang commod price higher | financ | cost look forward would like |
| countri | partnership govern mozambiqu subsaharan africa | countri | invit includ financ minist central |
| financ | subsaharan africa countri invit includ | financ | minist central bank governor follow |
| econom | confer mozambiqu take stock africa | econom | success well challeng ahead kenya |
| economi | meet kenya quest becom middleincom | economi | kenya today alreadi frontier economi |
| economi | economi kenya today alreadi frontier | economi | impress turnaround perform outcom import |
| econom | turnaround perform outcom import chang | econom | polit social landscap past year |
| econom | polit social landscap past year | econom | level prudent polici help anchor |
| polici | past year econom level prudent | polici | help anchor condit strong stabl |
| growth | help anchor condit strong stabl | growth | fiscal disciplin improv extern domest |
| polici | debt posit modern framework monetari | polici | help keep inflat expect check |
| market | financi system expand rapid capit | market | open result kenya built strong |
| market | favor condit tap intern financi | market | plan eurobond issu go forward |
| global | go forward kenya becom integr | global | economi bound expos extern shock |
| economi | forward kenya becom integr global | economi | bound expos extern shock spillov |
| economi | extern shock spillov trade partner | economi | volatil intern financi market bolster |
| market | partner economi volatil intern financi | market | bolster foreign reserv posit lower |
| countri | posit lower debt burden ensur | countri | resili shock polit level kenya |
| also | overhaul form govern implement constitut | also | gone delic polit transit transit |
| econom | subject account chang support overal | econom | stabil addit kenya fulli embrac |
| countri | afford technolog enhanc financi inclus | countri | boast highest share popul access |
| economi | previous outsid financi system stake | economi | younger generat particular increas empow |
| countri | crucial secur access resourc part | countri | crucial ensur everi region get |
| econom | everi region get benefit improv | econom | condit done proper kind devolut |
| also | resourc improv qualiti servic deliveri | also | creat new privat sector opportun |
| need | devolut done right mean spend | need | remain within avail envelop public |
| also | avail envelop public resourc transpar | also | mean avoid duplic function central |
| growth | larg infrastructur gap must tackl | growth | rais job creat countri newfound |
| countri | tackl growth rais job creat | countri | newfound natur resourc wealth opportun |
| econom | natur resourc wealth opportun lift | econom | prospect resourc need exploit wise |
| need | opportun lift econom prospect resourc | need | exploit wise transpar kenya current |
| also | technic assist issu foreign invest | also | encourag help plug infrastructur need |
| need | also encourag help plug infrastructur | need | understand foreign investor interest financ |
| financ | need understand foreign investor interest | financ | major project construct modern railway |
| countri | line coastal area kenya neighbor | countri | expans geotherm power generat type |
| financ | expans geotherm power generat type | financ | encourag provid remain consist sustain |
| econom | investor region strong advoc region | econom | integr context east african communiti |
| market | communiti region integr open new | market | support emerg middl class enabl |
| growth | enabl domest demand becom engin | growth | process must deepen context head |
| also | roadmap toward monetari union opportun | also | major challeng import draw upon |
| need | readi provid technic assist advic | need | conclusionlet conclud past sever year |
| economi | embark upon success journey transform | economi | achiev leadership support public sector |
| also | achiev leadership support public sector | also | larg effort vibrant privat sector |
| countri | still long way travel believ | countri | high hope warrant tri today |
| global | financi stabil core concern imfth | global | crisi taught us preserv financi |
| countri | stabil top prioriti shown health | countri | financi sector farreach implic health |
| economi | financi sector farreach implic health | economi | countri financi stabil core concern |
| countri | sector farreach implic health economi | countri | financi stabil core concern imf |
| countri | detect vulner system risk help | countri | adjust polici institut framework prevent |
| polici | system risk help countri adjust | polici | institut framework prevent manag financi |
| countri | prevent manag financi crise date | countri | undergon financi system stabil assess |
| countri | stabil assess mani european union | countri | particip clear financi stabil assess |
| market | suffici member european union singl | market | financi servic mean bank incorpor |
| countri | sever financi institut oper eu | countri | euro area core market money |
| market | eu countri euro area core | market | money market nation border recogn |
| market | euro area core market money | market | nation border recogn crossbord featur |
| market | coordin regul supervis level singl | market | financi servic made sens conduct |
| global | european union institut start june | global | financi crisi hit european time |
| need | author good time supran institut | need | deliv robust crisi manag financi |
| market | integr eu began impetus singl | market | project took incept euro total |
| economi | area unit kingdom peripheri emerg | economi | european union financi integr led |
| econom | integr led financi converg lead | econom | converg contrari countri competit drift |
| countri | converg lead econom converg contrari | countri | competit drift apart allow imbal |
| countri | greec ireland portug spain exceed | countri | gdp under fiscal posit also |
| also | countri gdp under fiscal posit | also | diverg financi tide turn quick |
| global | diverg financi tide turn quick | global | crisi morph euro area sovereign |
| countri | debt crisi privat financi exposur | countri | difficulti cut half end capit |
| countri | half end capit kept flow | countri | current account deficit offici flow |
| polici | extraordinari rise target imbal recent | polici | action european nation level succeed |
| econom | revers tide financi fragment promot | econom | converg competit strengthen stress countri |
| countri | econom converg competit strengthen stress | countri | current account deficit practic elimin |
| market | notabl sovereign fund condit debt | market | much improv nexus sovereign bank |
| economi | sovereign debt held bank stress | economi | overal doubl may septemb eas |
| market | busi transact currenc oper singl | market | financi servic grant credit risk |
| countri | work well turn perpetu fragment | countri | face highest stress also benefit |
| also | fragment countri face highest stress | also | benefit least ecb accommod stanc |
| countri | benefit least ecb accommod stanc | countri | face higher borrow cost high |
| economi | henc littl room support domest | economi | turn weaken bank system weak |
| growth | unemploy combin slow nomin incom | growth | corpor debt overhang could negat |
| econom | debt overhang could negat affect | econom | outlook turn would affect qualiti |
| economi | qualiti asset held bank stress | economi | imf latest global financi stabil |
| global | bank stress economi imf latest | global | financi stabil report gfsr estim |
| growth | reignit virtuous circl financi integr | growth | growth reduc stress financi system |
| growth | virtuous circl financi integr growth | growth | reduc stress financi system improv |
| countri | enhanc monetari transmiss turn benefit | countri | stress reduc fragment ahead polici |
| polici | countri stress reduc fragment ahead | polici | agenda recent polici action reduc |
| polici | fragment ahead polici agenda recent | polici | action reduc tail risk stabil |
| market | reduc tail risk stabil financi | market | omt particular effect context path |
| growth | particular effect context path sustain | growth | requir sustain smart polici action |
| polici | sustain growth requir sustain smart | polici | action various front monetari polici |
| polici | polici action various front monetari | polici | play continu play key role |
| polici | stabil thus recoveri europ fiscal | polici | need remain anchor mediumterm framework |
| need | thus recoveri europ fiscal polici | need | remain anchor mediumterm framework ensur |
| polici | sustain take account cyclic condit | polici | need complement much need structur |
| need | take account cyclic condit polici | need | complement much need structur reform |
| need | condit polici need complement much | need | structur reform boost potenti growth |
| growth | need structur reform boost potenti | growth | addit need put financi system |
| need | reform boost potenti growth addit | need | put financi system total sound |
| market | extent natur lender forbear reflect | market | valuat bank well book valu |
| growth | restart virtuous circl financi integr | growth | give boost investor confid european |
| economi | confid european bank posit effect | economi | particular lead clariti qualiti bank |
| need | bank asset better capit bank | need | lower cost fund econom agent |
| econom | bank need lower cost fund | econom | agent stress economi foster credit |
| economi | cost fund econom agent stress | economi | foster credit suppli experi shown |
| countri | analysi must unbias consist across | countri | achiev fulli disclos methodolog paramet |
| countri | bring independ thirdparti expertis demonstr | countri | alreadi undertook asset qualiti review |
| need | uncertainti abil bank meet capit | need | import identifi capit shortfal cover |
| also | first instanc new privat capit | also | clariti avail public resourc need |
| need | also clariti avail public resourc | need | given fragil sovereign euro area |
| also | recapit common sourc esm tabl | also | clariti time horizon bank achiev |
| need | whether would differ whether capit | need | identifi baselin stress test privat |
| need | capit fall short public fund | need | understand new state aid regim |
| countri | defin ensur even appli across | countri | moreov bail senior debt rule |
| need | aim vital daunt task ecb | need | complet supervisori toolkit need abl |
| need | ecb need complet supervisori toolkit | need | abl attract best talent need |
| need | need abl attract best talent | need | work effect nation supervisor various |
| need | posit step strong independ power | need | resolv bank strengthen nation resolut |
| need | help common backstop would nonetheless | need | place moreov take time build |
| need | resolut arrang nation common level | need | access backup fund perman resourc |
| also | publish today member european union | also | benefit robust bank union direct |
| also | region financi stabil bank union | also | diminish rather increas relev paneuropean |
| market | supervis financi institut throughout singl | market | bank union cover bank henc |
| need | channel nonbank intermedi bring third | need | action promot capit marketbas financi |
| countri | system remain domin bank sever | countri | bank system asset multipl gdp |
| market | gdp reflect much relianc capit | market | bank larg europ must ensur |
| market | intermedi get fill dynam capit | market | achiev better balanc bank capit |
| economi | marketsbas intermedi time make europ | economi | resili restart expand securit would |
| financ | institut investor develop altern retail | financ | product conclusioneurop creat singl market |
| market | financ product conclusioneurop creat singl | market | financi servic natur compon econom |
| econom | market financi servic natur compon | econom | integr pursu countri went adopt |
| countri | natur compon econom integr pursu | countri | went adopt singl currenc financi |
| market | went adopt singl currenc financi | market | celebr achiev integr rapid institut |
| market | debt crisi led much fragment | market | anyon could imagin yet crisi |
| also | anyon could imagin yet crisi | also | serv wakeup call unpreced polici |
| polici | also serv wakeup call unpreced | polici | action taken avoid crise futur |
| market | teeth balanc stronger deeper capit | market | adapt europ phrase origin american |
| econom | start acknowledg import role european | econom | social committe play bring voic |
| global | stakehold civil societi imf know | global | crisi taken sever toll societi |
| also | support reform improv live repres | also | heart mandat role imf base |
| econom | found second world war belief | econom | cooper could usher era peac |
| polici | decad ago support member offer | polici | advic extend loan countri econom |
| countri | offer polici advic extend loan | countri | econom difficulti provid technic knowhow |
| econom | polici advic extend loan countri | econom | difficulti provid technic knowhow expertis |
| growth | key prioriti see boost muchneed | growth | employ get credit flow better |
| market | iv foster jobfriend labor product | market | outlook europeeurop seem turn corner |
| growth | tackl big challeng made sign | growth | begun emerg sever year declin |
| countri | mark viabil monetari union dissip | countri | hit hard crisi undertak great |
| market | deal adjust appear stabil financi | market | upbeat foreign capit fled europ |
| growth | sign well first perhap import | growth | rate output level still remain |
| growth | rate high gap actual potenti | growth | rate like remain larg forese |
| also | vicious cycl low demand activ | also | affect capit spend hire second |
| growth | affect capit spend hire second | growth | balanc across europ therefor may |
| growth | therefor may sustain pocket stronger | growth | high employ exampl germani growth |
| growth | growth high employ exampl germani | growth | low declin elsewher demand european |
| economi | servic come abroad within leav | economi | merci up down global trade |
| global | leav economi merci up down | global | trade european demand european product |
| growth | much worri stake europ potenti | growth | futur one factor work crisi |
| market | depreci skill possibl withdraw labor | market | experi tell us long spell |
| countri | dearth invest privat public mani | countri | erod capit stock deplet product |
| economi | capit stock deplet product capac | economi | thus failur reviv invest employ |
| growth | victori durabl solut lie jumpstart | growth | mean growth stronger export also |
| growth | solut lie jumpstart growth mean | growth | stronger export also robust recoveri |
| also | growth mean growth stronger export | also | robust recoveri domest demand especi |
| countri | corner europ histori give hope | countri | emerg stronger crisi sweden exampl |
| economi | sweden exampl bank crisi devast | economi | earli sweden adopt widerang reform |
| market | adopt widerang reform liber product | market | privat deregul servic help boost |
| also | one europ top perform sinc | also | safeguard employ equal strong welfar |
| growth | welfar state euro area secur | growth | complex challeng requir comprehens multilay |
| growth | demand touch see prioriti jumpstart | growth | mani discuss book employ growth |
| growth | growth mani discuss book employ | growth | europ releas januari first prioriti |
| countri | sector europ lag somewhat behind | countri | regard critic flow credit reason |
| growth | suffici capit viabl reviv credit | growth | also entail proper account disclos |
| also | capit viabl reviv credit growth | also | entail proper account disclos bank |
| growth | set stage return confid credit | growth | context complet element bank union |
| polici | flow yet resum fulli public | polici | need much support demand mean |
| need | yet resum fulli public polici | need | much support demand mean ecb |
| need | much support demand mean ecb | need | keep interest rate low convinc |
| need | stall declin inflat inflat expect | need | find way reduc cost lend |
| growth | govern budget less scope support | growth | given larg case grow debt |
| growth | relax nomin budget deficit target | growth | forecast fail materi event growth |
| growth | growth forecast fail materi event | growth | low protract period time monetari |
| polici | low protract period time monetari | polici | option deplet fiscal polici need |
| polici | monetari polici option deplet fiscal | polici | need provid support domest demand |
| need | polici option deplet fiscal polici | need | provid support domest demand third |
| also | substanti unless household corpor sovereign | also | get financ order reduc debt |
| financ | household corpor sovereign also get | financ | order reduc debt burden make |
| need | reviv prospect credit free incom | need | servic debt toward support consumpt |
| need | invest privat sector mean govern | need | put place structur facilit privat |
| also | reduc time take restructur debt | also | need address public sector debt |
| need | time take restructur debt also | need | address public sector debt burden |
| countri | public sector debt burden mani | countri | fiscal consolid hard avoid experi |
| growth | level sustain way requir higher | growth | final remain import break pernici |
| growth | marketsth goal reform break barrier | growth | silver bullet mean take entrench |
| also | competit enabl resourc go product | also | mean help labor market support |
| market | product also mean help labor | market | support growth adjust clear reform |
| growth | mean help labor market support | growth | adjust clear reform need across |
| need | support growth adjust clear reform | need | across europ exampl countri larg |
| countri | reform need across europ exampl | countri | larg extern surplus reform target |
| countri | ensur resourc invest maxim return | countri | extern deficit price must adjust |
| market | area gap best practic labor | market | pension polici oecd countri could |
| polici | best practic labor market pension | polici | oecd countri could rais level |
| countri | labor market pension polici oecd | countri | could rais level real gdp |
| market | anoth  ¾ percent product | market | reform reduc regulatori burden revenueneutr |
| market | boost big gain exact labor | market | reform strengthen resili make economi |
| economi | market reform strengthen resili make | economi | better place absorb futur shock |
| market | futur shock exampl german labor | market | work well crisi part hartz |
| market | reform introduc earli chang labor | market | need done manner respect legitim |
| need | introduc earli chang labor market | need | done manner respect legitim right |
| need | due regard incom distribut solut | need | devis construct dialogu stakehold includ |
| growth | wage increas incent hire boost | growth | shift resourc export sector greater |
| market | would help process beyond labor | market | big payoff come open product |
| market | payoff come open product servic | market | competit unleash new invest new |
| need | french firm reach critic mass | need | access export market target implement |
| market | critic mass need access export | market | target implement eu servic direct |
| countri | activ still heavili regul mani | countri | includ legal servic architect account |
| also | architect account tax advisor engin | also | financi dimens longterm growth would |
| growth | engin also financi dimens longterm | growth | would use develop altern fund |
| financ | small mediums enterpris reliant bank | financ | moment recent propos european commiss |
| market | make sens pursu access grow | market | includ new round free trade |
| market | develop agenda forward deeper integr | market | would provid market europ export |
| market | deeper integr market would provid | market | europ export help improv product |
| also | europ export help improv product | also | import countri plug global product |
| countri | help improv product also import | countri | plug global product chain sever |
| global | product also import countri plug | global | product chain sever emerg market |
| market | global product chain sever emerg | market | europ accomplish success structur reform |
| market | success structur reform product labor | market | help countri achiev integr well |
| countri | reform product labor market help | countri | achiev integr well conclusionlet conclud |
| growth | europ right track recent improv | growth | market sentiment accid look back |
| market | right track recent improv growth | market | sentiment accid look back begin |
| growth | push reform tackl deepseat obstacl | growth | let reform growth recov suffici |
| growth | deepseat obstacl growth let reform | growth | recov suffici arrest rise unemploy |
| countri | dedic continu work european member | countri | well european commiss ecb support |
| growth | commiss ecb support recoveri generat | growth | job also remain commit continu |
| also | support recoveri generat growth job | also | remain commit continu engag partner |
| polici | distinguish particip th annual arab | polici | forum financi inclus let start |
| polici | develop cooper giz organ arab | polici | forum invit us deliv address |
| also | invit us deliv address would | also | like commend forum turn spotlight |
| growth | believ key address challeng boost | growth | creat job reduc poverti main |
| growth | financi servic crucial element reviv | growth | region creat job grow popul |
| econom | financi inclusionnow know person experi | econom | opportun strong link access financi |
| also | build save obtain credit invest | also | know provid job increas live |
| need | increas live standard mena region | need | grow faster done last decad |
| financ | done last decad increas access | financ | could help close growth gap |
| growth | access financ could help close | growth | gap inde empir studi show |
| financ | empir studi show rais access | financ | mena region averag world could |
| growth | could boost per capita gdp | growth | almost percentag point annual highlight |
| countri | financi institut compar percent develop | countri | whole women region figur percent |
| growth | enterpris agre engin privat sector | growth | job creation financi inclus low |
| market | financi institut lack competit miss | market | limit avail divers special financi |
| financ | product servic barrier women access | financ | let say word first foremost |
| countri | first foremost financi infrastructur mani | countri | region underdevelop particular credit inform |
| need | inform weak compar region second | need | clear coher supervisori regulatori framework |
| countri | institut exampl microfin legisl introduc | countri | welcom other still need follow |
| need | introduc countri welcom other still | need | follow third also lack competit |
| also | other still need follow third | also | lack competit miss market competit |
| market | third also lack competit miss | market | competit amongst bank domin financi |
| need | emerg region financi institut cater | need | poor micro smallandmedium enterpris larg |
| financ | product servic limit exampl islam | financ | expand recent year arab world |
| financ | pace progress toward accommod islam | financ | uneven across countri final women |
| countri | accommod islam financ uneven across | countri | final women face rang barrier |
| countri | servic combin limit properti right | countri | high level unemploy low level |
| also | client recruit femal staff still | also | uneven across region iii polici |
| polici | also uneven across region iii | polici | promot financi inclus done promot |
| need | divers skill product cater vari | need | client fourth diversifi product includ |
| financ | diversifi product includ develop islam | financ | product particular faster expans islam |
| financ | product particular faster expans islam | financ | proper regul would foster financi |
| financ | smallandmedium entrepreneur know increas access | financ | young micro smallandmedium entrepreneur often |
| need | young micro smallandmedium entrepreneur often | need | support build capac account record |
| financ | creat enabl environ women access | financ | believ need remov obstacl chang |
| need | environ women access financ believ | need | remov obstacl chang attitud hold |
| financ | attitud hold back women access | financ | would step toward allow women |
| econom | toward allow women contribut fulli | econom | potenti nation econom develop iv |
| econom | contribut fulli econom potenti nation | econom | develop iv creat enabl environ |
| countri | women access financea know area | countri | region lag entir mena region |
| market | almost tripl averag gap emerg | market | develop economi gap simpli doubl |
| economi | averag gap emerg market develop | economi | gap simpli doubl instead tripl |
| countri | doubl instead tripl gain region | countri | gulf includ would enorm calcul |
| need | gdp address obstacl obvious effort | need | includ train program women especi |
| also | especi start busi financi institut | also | encourag employ women would help |
| countri | use financi servic progress made | countri | divers kenya bangladesh tanzania pakistan |
| growth | key pillar financi develop inclus | growth | mani financi sector reform mena |
| countri | mani financi sector reform mena | countri | undertaken cooper imf world bank |
| also | imf world bank region institut | also | provid polici advic articl iv |
| polici | bank region institut also provid | polici | advic articl iv consult technic |
| also | inclus lie within area expertis | also | work ensur financi sector issu |
| econom | sector issu integr part nation | econom | program support fund financi assist |
| also | region financi institut inde fund | also | particip sever multilater initi promot |
| countri | social polit transit underway mani | countri | region underscor need embrac new |
| need | underway mani countri region underscor | need | embrac new polici polici toward |
| polici | region underscor need embrac new | polici | polici toward inclus growth model |
| polici | underscor need embrac new polici | polici | toward inclus growth model financi |
| growth | new polici polici toward inclus | growth | model financi inclus would import |
| econom | great pleasur come yangon institut | econom | let thank rector dr khin |
| also | oo gracious word welcom would | also | like acknowledg moder today illustri |
| countri | neighbor jawaharl nehru said context | countri | moment come come rare histori |
| global | heart asia dynam innov hub | global | economi myanmar write next chapter |
| economi | asia dynam innov hub global | economi | myanmar write next chapter asian |
| also | time true daughter asia myanmar | also | come long way short period |
| econom | gain macroeconom stabil form basi | econom | liftoff sure still fragil need |
| need | econom liftoff sure still fragil | need | stronger institut underpin groundwork laid |
| market | rate establish function foreign exchang | market | remov exchang restrict start process |
| growth | bank lend alreadi see payoff | growth | percent last fiscal year rise |
| growth | take path sustain strong inclus | growth | lower poverti lift prospect everyon |
| economi | peopl develop integr broader region | economi | invest includ integr let talk |
| need | invest futur myanmar open expand | need | structur foundat modern economi urgent |
| economi | expand need structur foundat modern | economi | urgent prioriti threequart popul access |
| economi | clear mani peopl yet equip | economi | tomorrow know major prioriti govern |
| also | tomorrow know major prioriti govern | also | forget agricultur account third gdp |
| polici | boost incom famer depend call | polici | like seed develop increas competit |
| also | among rice trader invest futur | also | mean invest peopl myanmar health |
| also | pocket highest southeast asia develop | also | depend educ sure step stone |
| also | enrol secondari school achiev rate | also | low dropout rate primari school |
| economi | train match skill peopl skill | economi | need invest area requir expand |
| need | match skill peopl skill economi | need | invest area requir expand reach |
| econom | peopl ride wave prosper togeth | econom | polici alway prefer poor good |
| polici | ride wave prosper togeth econom | polici | alway prefer poor good ethic |
| econom | prefer poor good ethic good | econom | rampant poverti peopl caught daili |
| financ | contribut societi becom hard get | financ | get skill even get know |
| econom | get know inequ bad sustain | econom | growth kind growth myanmar need |
| growth | know inequ bad sustain econom | growth | kind growth myanmar need inequ |
| growth | bad sustain econom growth kind | growth | myanmar need inequ make countri |
| need | econom growth kind growth myanmar | need | inequ make countri vulner econom |
| countri | growth myanmar need inequ make | countri | vulner econom shock reduc trust |
| econom | need inequ make countri vulner | econom | shock reduc trust lifeblood civil |
| market | shock reduc trust lifeblood civil | market | economi rememb inclus growth asian |
| economi | reduc trust lifeblood civil market | economi | rememb inclus growth asian legaci |
| growth | civil market economi rememb inclus | growth | asian legaci first wave econom |
| econom | growth asian legaci first wave | econom | dynam led japan asian tiger |
| growth | japan asian tiger show strong | growth | could go handinhand low sometim |
| countri | sometim fall inequ provid roadmap | countri | like myanmar sure myanmar make |
| econom | certain geograph region includ everyon | econom | progress also strong gender compon |
| also | region includ everyon econom progress | also | strong gender compon spoke myanmar |
| economi | forum evid clear women better | economi | better done work imf show |
| market | imf show women particip labor | market | extent men gain could substanti |
| countri | best way reduc poverti develop | countri | like myanmar empow women turn |
| also | forum left feel encourag inspir | also | inspir million women toil sun |
| growth | right connect myanmar first wave | growth | centuri ago driven commod hand |
| growth | driven commod hand peopl kind | growth | work unlik last last growth |
| growth | growth work unlik last last | growth | depend level play field underpin |
| economi | turn third area integr region | economi | know well integr asian way |
| economi | success myanmar integr wider asian | economi | come auspici time like never |
| global | asia march alreadi dynam hub | global | economi develop asia could estim |
| economi | march alreadi dynam hub global | economi | develop asia could estim account |
| global | asia could estim account half | global | gdp also nerv center global |
| also | estim account half global gdp | also | nerv center global middl class |
| global | global gdp also nerv center | global | middl class rise record number |
| economi | class rise record number world | economi | destini new global economi interconnect |
| global | number world economi destini new | global | economi interconnect ever see today |
| economi | world economi destini new global | economi | interconnect ever see today even |
| global | unpredict way uncertain outcom look | global | financi crisi play make open |
| econom | south east asian game asean | econom | communiti expect come line take |
| countri | level offer limitless possibl rise | countri | like myanmar myanmar bless huge |
| countri | abund dynam youth energi largest | countri | mainland southeast asia second size |
| global | sit intersect india china two | global | econom center graviti asean integr |
| econom | intersect india china two global | econom | center graviti asean integr myanmar |
| countri | advantag half export go asean | countri | easier access larger market abl |
| market | asean countri easier access larger | market | abl entic larger level foreign |
| also | entic larger level foreign invest | also | abl diversifi right growth come |
| growth | invest also abl diversifi right | growth | come extract industri gas alon |
| also | area telecommun manufactur garment bank | also | great potenti tourism one enchant |
| countri | potenti tourism one enchant beauti | countri | world home hospit peopl greater |
| also | hospit peopl greater financi integr | also | help myanmar key prioriti widen |
| economi | financi sector better support product | economi | get credit need right credit |
| need | support product economi get credit | need | right credit percent gdp one |
| countri | sector har skill save neighbor | countri | turn help financ busi provid |
| financ | save neighbor countri turn help | financ | busi provid job econom secur |
| econom | help financ busi provid job | econom | secur peopl myanmar need deeper |
| need | job econom secur peopl myanmar | need | deeper integr illumin myanmar path |
| econom | conclusionlet conclud note yangon institut | econom | premier center econom busi train |
| econom | yangon institut econom premier center | econom | busi train myanmar talent peopl |
| countri | busi train myanmar talent peopl | countri | mean great respons lift econom |
| econom | countri mean great respons lift | econom | potenti countri fellow citizen rest |
| countri | great respons lift econom potenti | countri | fellow citizen rest assur stand |
| global | myanmar stand alon longstand member | global | communiti member imf sinc assur |
| polici | assur imf alway stand stand | polici | advic draw collect wisdom global |
| global | polici advic draw collect wisdom | global | communiti stand technic assist train |
| need | strengthen capac build strong institut | need | sustain vibrant economi year come |
| economi | strong institut need sustain vibrant | economi | year come build secur foundat |
| growth | build secur foundat strong inclus | growth | assur long haul serv help |
| econom | spent happi year earn dphil | econom | magic place full beauti clever |
| global | max invit return give annual | global | econom govern lectur let outlin |
| econom | invit return give annual global | econom | govern lectur let outlin main |
| econom | today make case smart governanceglob | econom | crise tend reignit discuss global |
| global | econom crise tend reignit discuss | global | govern intern cooper recent crisi |
| market | seen weak failur bank capit | market | spread intern financi system true |
| need | everybodi increas pretti clear world | need | less intern coordin cooper achiev |
| global | articl ft wolf discuss import | global | public good provid state human |
| need | manag climat unpopular overstretch odd | need | think manag world go take |
| need | go take extraordinari creativ right | need | creativ want make progress need |
| need | need creativ want make progress | need | smart govern want solut work |
| global | govern want solut work today | global | economi would like focus today |
| economi | want solut work today global | economi | would like focus today three |
| polici | crise one hand govern reform | polici | coordin hand second discuss respons |
| polici | discuss respons term govern reform | polici | coordin seen aftermath financi crisi |
| global | final close talk share reflect | global | econom govern might evolv go |
| econom | close talk share reflect global | econom | govern might evolv go forward |
| need | right balanc flexibl effect world | need | manag global world transitionth global |
| global | flexibl effect world need manag | global | world transitionth global economi transit |
| global | need manag global world transitionth | global | economi transit global econom power |
| economi | manag global world transitionth global | economi | transit global econom power shift |
| global | world transitionth global economi transit | global | econom power shift west east |
| econom | transitionth global economi transit global | econom | power shift west east south |
| economi | west east south emerg develop | economi | alreadi make percent global gdp |
| global | develop economi alreadi make percent | global | gdp ppp basi ten year |
| global | crossbord bank claim grew trillion | global | merchandis export good servic increas |
| global | contract somewhat subsequ year due | global | crisi growth rate past year |
| growth | subsequ year due global crisi | growth | rate past year still impress |
| global | year still impress product side | global | suppli chain becom norm rather |
| econom | sharp increas interconnected grow diffus | econom | power would reason expect simultan |
| global | reason expect simultan transform expans | global | govern theori demand global govern |
| global | expans global govern theori demand | global | govern increas rise level global |
| global | global govern increas rise level | global | integr order manag rule game |
| global | reduc negat spillov effect know | global | govern issu backburn runup financi |
| growth | financi crisi inde background high | growth | low output volatil call great |
| global | moder observ even wonder whether | global | govern concept past institut imf |
| market | u financi system spill distant | market | countri morph fullfledg global financi |
| countri | financi system spill distant market | countri | morph fullfledg global financi crisi |
| global | distant market countri morph fullfledg | global | financi crisi becam clear undersuppli |
| global | financi crisi becam clear undersuppli | global | govern year lead crisi crise |
| global | crisi crise opportunityf year onslaught | global | financi crisi econom govern remain |
| econom | year onslaught global financi crisi | econom | govern remain center polici debat |
| polici | crisi econom govern remain center | polici | debat would argu surpris given |
| global | ii trigger much current architectur | global | govern creation unit nation imf |
| also | traumat experi world war ii | also | provid impetus polit econom integr |
| econom | ii also provid impetus polit | econom | integr europ unit state financi |
| global | asian crisi similar situat past | global | financi crisi impos larg cost |
| countri | impos larg cost hardship affect | countri | howev perspect econom govern also |
| econom | hardship affect countri howev perspect | econom | govern also provid window opportun |
| also | countri howev perspect econom govern | also | provid window opportun advanc reform |
| polici | window opportun advanc reform strengthen | polici | coordin manag let good crisi |
| polici | split three categori coordin macroeconom | polici | fix global financi regul strengthen |
| global | categori coordin macroeconom polici fix | global | financi regul strengthen region global |
| global | global financi regul strengthen region | global | safeti net first macroeconom polici |
| polici | global safeti net first macroeconom | polici | coordin although perfect coordin particular |
| polici | announc unpreced move coordin cut | polici | rate octob eas global econom |
| global | cut polici rate octob eas | global | econom condit u feder reserv |
| econom | polici rate octob eas global | econom | condit u feder reserv differ |
| market | mitig dollar shortag shortterm fund | market | first ever g leader summit |
| polici | possibl counterfactu howev recent momentum | polici | coordin slow focus shift prevent |
| polici | continu dialogu unwind unconvent monetari | polici | manag potenti spillov effect well |
| global | debt burden accumul crisi second | global | financi regul address origin crisi |
| global | g member commit fundament overhaul | global | financi regul intent promot transpar |
| global | intent promot transpar safe resili | global | financi system notabl financi stabil |
| polici | exchang financi inform implement macroprudenti | polici | framework effort also underway facilit |
| also | implement macroprudenti polici framework effort | also | underway facilit crossbord resolut yet |
| market | reform shadow bank make deriv | market | safer euro area recent polici |
| polici | market safer euro area recent | polici | action help eas market stress |
| market | recent polici action help eas | market | stress still need done revers |
| need | help eas market stress still | need | done revers financi fragment move |
| global | bank union third strengthen region | global | safeti net mitig impact crisi |
| countri | safeti net mitig impact crisi | countri | came togeth strengthen global financi |
| global | crisi countri came togeth strengthen | global | financi safeti net includ trebl |
| financ | framework part world commit region | financ | arrang chang mai initi eurasian |
| econom | arrang chang mai initi eurasian | econom | communiti anticrisi fund reinforc howev |
| market | would increas voic represent emerg | market | develop economi yet implement two |
| economi | voic represent emerg market develop | economi | yet implement two three requir |
| need | three requir condit fulfil support | need | meet final condit allow reform |
| global | effect put togeth report card | global | govern reform sinc crisi somewhat |
| need | somewhat mix policymak across globe | need | keep momentum aliv seiz opportun |
| global | danger window opportun address challeng | global | issu might soon close trend |
| global | type solut evolv mean deliv | global | public good soft versus hard |
| polici | public good soft versus hard | polici | coordinationin direct global system econom |
| global | versus hard polici coordinationin direct | global | system econom govern polici coordin |
| econom | polici coordinationin direct global system | econom | govern polici coordin evolv answer |
| polici | direct global system econom govern | polici | coordin evolv answer question find |
| polici | instruct differenti hard soft govern | polici | coordin hard polici coordin typifi |
| polici | soft govern polici coordin hard | polici | coordin typifi quid pro quo |
| polici | coordin typifi quid pro quo | polici | focus specif tangibl outcom exampl |
| polici | aftermath crisi result coordin fiscal | polici | respons mention earlier creation fsb |
| polici | intern settlement bis soft hard | polici | coordin complement instanc soft arrang |
| polici | complement instanc soft arrang keep | polici | dialogu aliv quiet time provid |
| polici | framework harder cooper even fullfledg | polici | coordin crise soft versus hard |
| countri | treatybas architectur strengthen credibl member | countri | commit grant legal enforc power |
| global | tend relat slowmov process problem | global | environ need member chang soft |
| need | slowmov process problem global environ | need | member chang soft govern arrang |
| countri | soft govern arrang g bric | countri | group fsb financi action task |
| also | relev effect time final cours | also | privat sector solut govern challeng |
| global | independ nonprofit foundat promot harmon | global | account standard mosaic solutionsin sum |
| global | account standard mosaic solutionsin sum | global | econom govern structur futur may |
| econom | standard mosaic solutionsin sum global | econom | govern structur futur may well |
| global | govern combin howev flexibl effici | global | govern structur may emerg automat |
| global | may emerg automat exampl hard | global | institut imf world bank wto |
| global | effici could leav us weaker | global | govern system case imf govern |
| global | bring final point evolv ecosystem | global | govern polici coordin describ essenti |
| polici | point evolv ecosystem global govern | polici | coordin describ essenti element hard |
| economi | stay relev adapt chang world | economi | year imf demonstr remark abil |
| global | work oper respons major chang | global | economi includ fall fix exchang |
| economi | oper respons major chang global | economi | includ fall fix exchang rate |
| economi | albeit slowli adapt chang world | economi | also independ staff constitut form |
| also | slowli adapt chang world economi | also | independ staff constitut form articl |
| also | longerterm perspect moreov imf aspect | also | manag intern integr hard element |
| countri | consensusbas decisionmak effect ensur member | countri | point view heard go forward |
| countri | structur reflect relat posit member | countri | global economi approv reform would |
| global | reflect relat posit member countri | global | economi approv reform would import |
| economi | relat posit member countri global | economi | approv reform would import step |
| economi | shift quota vote share dynam | economi | also need achiev countri accept |
| also | quota vote share dynam economi | also | need achiev countri accept relat |
| need | vote share dynam economi also | need | achiev countri accept relat declin |
| countri | dynam economi also need achiev | countri | accept relat declin quota vote |
| global | strong legitim benefit entir membership | global | economi conclusionwhil signific effort improv |
| economi | legitim benefit entir membership global | economi | conclusionwhil signific effort improv global |
| global | economi conclusionwhil signific effort improv | global | econom govern made initi phase |
| econom | conclusionwhil signific effort improv global | econom | govern made initi phase crisi |
| polici | initi phase crisi momentum reform | polici | coordin slow recent inde current |
| polici | current system abl deliv govern | polici | coordin lot lose crisi much |
| global | galvan action potenti mutual gain | global | econom rebalanc one possibl explan |
| econom | action potenti mutual gain global | econom | rebalanc one possibl explan global |
| global | econom rebalanc one possibl explan | global | communiti tend ralli time crisi |
| global | point toward plurilater rise soft | global | govern threat tradit pillar hard |
| global | govern threat tradit pillar hard | global | govern includ imf much less |
| need | substitut soft govern work innov | need | time act get subset countri |
| countri | need time act get subset | countri | act suffici ad hoc implement |
| need | hoc implement work hard govern | need | crisi global approach need consist |
| global | work hard govern need crisi | global | approach need consist enforc key |
| need | govern need crisi global approach | need | consist enforc key come back |
| need | believ tackl issu smart govern | need | make polit opportun present integr |
| countri | outcom achiev everyon small larg | countri | alik ii grate andrea bauer |
| also | well moder professor bark would | also | like acknowledg jongwon yoon korea |
| countri | premier institut higher learn korea | countri | take educ learn serious best |
| economi | knowledg learn enlighten societi fuel | economi | blaze forth latin motto verita |
| economi | giant preced generat korean propel | economi | posit weak posit forc strength |
| countri | come true korea among poorest | countri | world today one richest world |
| economi | one richest world thirteenth prosper | economi | incom per capita higher eu |
| growth | korea shown world impress rate | growth | coexist enviabl degre equiti ever |
| also | ever sinc ancient time korea | also | land invent innov today continu |
| global | see two clear trend horizon | global | economi first asia rapid becom |
| economi | two clear trend horizon global | economi | first asia rapid becom econom |
| econom | economi first asia rapid becom | econom | center graviti st centuri increas |
| econom | call invigor multilater ever closer | econom | cooper trend clear play korea |
| global | pois play increas leadership role | global | economi tomorrow let talk korea |
| economi | play increas leadership role global | economi | tomorrow let talk korea take |
| global | topic korea stay lead edg | global | economi ii korea har deep |
| economi | korea stay lead edg global | economi | ii korea har deep commit |
| global | korea har deep commit multilater | global | cooper stay lead edg global |
| global | global cooper stay lead edg | global | economylet begin korea stay lead |
| global | begin korea stay lead edg | global | economi like tree deep root |
| economi | korea stay lead edg global | economi | like tree deep root korea |
| economi | old inde recent time korean | economi | face mani test time come |
| econom | trauma asian crisi korea strengthen | econom | root low inflat healthi public |
| financ | root low inflat healthi public | financ | ampl foreign reserv make mistak |
| countri | reserv make mistak mani advanc | countri | run great recess korea resili |
| global | korea resili shone bright aftermath | global | financi crisi like everywher els |
| polici | lower extern debt deploy macroprudenti | polici | proactiv tame financi risk today |
| growth | risk today prudenc prepar pay | growth | strengthen pick  ¾ percent |
| economi | Â ¾ percent time mani | economi | reel market turmoil korea distinguish |
| market | percent time mani economi reel | market | turmoil korea distinguish safe haven |
| need | safe haven move ahead korea | need | build except strong root need |
| need | need build except strong root | need | keep nurtur nourish tree stay |
| growth | generat come mean make sure | growth | potenti stay strong especi popul |
| growth | oecd without action korea longterm | growth | could fall percent around percent |
| econom | shadow social cohes accompani korean | econom | miracl understand creat great anxieti |
| economi | find job decent livelihood rapidlychang | economi | mani half recent graduat cannot |
| global | popular cultur ironylac lyric psi | global | phenomenon gangnam style korea need |
| need | global phenomenon gangnam style korea | need | continu well combin stronger growth |
| growth | need continu well combin stronger | growth | greater equiti two main way |
| market | main way achiev make labor | market | inclus make servic market product |
| market | labor market inclus make servic | market | product talk turn make labor |
| market | product talk turn make labor | market | inclusivelet begin make labor market |
| market | market inclusivelet begin make labor | market | inclus key problem dualiti regular |
| also | reflect high enrol tertiari educ | also | jobseek skill need employ one |
| need | tertiari educ also jobseek skill | need | employ one answer invest activ |
| market | one answer invest activ labor | market | polici vocat educ women labor |
| polici | answer invest activ labor market | polici | vocat educ women labor forc |
| polici | show true across world korea | polici | help women better balanc busi |
| polici | gap one third exampl kind | polici | includ invest childcar offer flexibl |
| market | generat girl generat make servic | market | productivelet turn second major impedi |
| growth | second major impedi long term | growth | low product servic sector korea |
| polici | servic sector address right combin | polici | bring competit area like util |
| growth | could see great gain longterm | growth | Â ½ percent next decad |
| also | tax long hallmark social spend | also | low second lowest oecd give |
| also | percent gdp right sequenc reform | also | import would best stronger social |
| global | posit lead edg st centuri | global | economi multilater global responsibilitylet turn |
| economi | lead edg st centuri global | economi | multilater global responsibilitylet turn second |
| global | st centuri global economi multilater | global | responsibilitylet turn second topic korea |
| global | korea continu har commit multilater | global | respons common good relationship imf |
| global | alway firm believ power multilater | global | cooper know korea take global |
| global | global cooper know korea take | global | respons serious understand strong korea |
| need | respons serious understand strong korea | need | strong harmoni global economi three |
| global | strong korea need strong harmoni | global | economi three year ago exampl |
| economi | korea need strong harmoni global | economi | three year ago exampl korea |
| economi | seoul know korea posit world | economi | destin grow role model develop |
| countri | destin grow role model develop | countri | eager follow footstep lot share |
| econom | play expect particular korean wave | econom | hallyu surg across global landscap |
| global | wave econom hallyu surg across | global | landscap alreadi see happen korea |
| countri | fund new mechan help develop | countri | deal greatest econom challeng st |
| econom | help develop countri deal greatest | econom | challeng st centuri climat chang |
| also | climat chang korea inde asia | also | play grow role imf anoth |
| countri | kind mutual aid societi wherebi | countri | contribut common resourc help individu |
| need | common resourc help individu member | need | know reson deepli korean cultur |
| global | principl behind imf simpl put | global | econom stabil ahead parochi concern |
| econom | behind imf simpl put global | econom | stabil ahead parochi concern rise |
| global | found way even import given | global | economi connect way would seem |
| economi | way even import given global | economi | connect way would seem unimagin |
| also | stay true found principl must | also | adapt new realiti modern global |
| global | also adapt new realiti modern | global | economi start focus far complex |
| economi | adapt new realiti modern global | economi | start focus far complex web |
| global | complex web interconnect spillov run | global | economi across countri across sector |
| economi | web interconnect spillov run global | economi | across countri across sector across |
| countri | spillov run global economi across | countri | across sector across market also |
| market | across countri across sector across | market | also put emphasi job growth |
| also | countri across sector across market | also | put emphasi job growth agenda |
| growth | market also put emphasi job | growth | agenda peopl around world ultim |
| also | around world ultim care lend | also | tailor modern global economi recent |
| global | care lend also tailor modern | global | economi recent financi crisi truli |
| economi | lend also tailor modern global | economi | recent financi crisi truli global |
| global | economi recent financi crisi truli | global | crisi requir truli global respons |
| global | truli global crisi requir truli | global | respons respons possibl thank generos |
| countri | respons possibl thank generos member | countri | includ korea abl provid billion |
| countri | includ zerointerest loan poorest member | countri | support today flexibl allow longer |
| econom | focus core area macroeconom stabil | econom | growth attun social condit seek |
| growth | core area macroeconom stabil econom | growth | attun social condit seek provid |
| also | net share burden adjust equit | also | put develop capac forefront agenda |
| countri | agenda assist advic provid develop | countri | help strengthen econom manag build |
| econom | provid develop countri help strengthen | econom | manag build stronger institut thank |
| global | capac develop invest futur invest | global | solidar give develop countri secur |
| countri | invest global solidar give develop | countri | secur foundat abl follow korea |
| also | footstep adapt world today must | also | prepar world tomorrow alreadi see |
| also | financi integr bring great benefit | also | rais risk crisi econom growth |
| econom | benefit also rais risk crisi | econom | growth stabil might also threat |
| growth | also rais risk crisi econom | growth | stabil might also threat call |
| also | crisi econom growth stabil might | also | threat call new frontier risk |
| need | shift widen inequ face challeng | need | enhanc cooper partnership inde new |
| countri | reform give greater voic dynam | countri | like korea import korea strong |
| global | contribut better fellow korean fellow | global | citizen today long haul great |
| need | one eye fix firm futur | need | korea stay cut edg success |
| global | edg success must keep eye | global | communiti long journey alway easier |
| also | excel best brightest talent cambodia | also | unwav dedic public servic nobl |
| countri | carri shoulder hope dream cambodia | countri | yesterday meet tomorrow countri blend |
| countri | cambodia countri yesterday meet tomorrow | countri | blend enchant beauti visionari innov |
| econom | today stand frontier open new | econom | chapter chapter fill promis possibl |
| market | way toward becom dynam emerg | market | mind let talk two thing |
| econom | let talk two thing today | econom | environ cambodia emerg ii cambodia |
| econom | environ continu upward momentum new | econom | environmentlet begin talk environ enter |
| global | environmentlet begin talk environ enter | global | region economi forg right feet |
| economi | talk environ enter global region | economi | forg right feet defin featur |
| economi | right feet defin featur new | economi | rise asia power interconnect mani |
| market | shift fifti year ago emerg | market | develop economi account quarter world |
| economi | year ago emerg market develop | economi | account quarter world gdp today |
| global | half rise rapid like twothird | global | gdp within next decad shift |
| global | develop asia alon account half | global | gdp also see dramat rise |
| also | alon account half global gdp | also | see dramat rise global middl |
| global | gdp also see dramat rise | global | middl class rise aspir global |
| global | global middl class rise aspir | global | citizen opportun embark upon life |
| global | chanc flourish endeavor studi claim | global | middl class surpass billion peopl |
| global | peopl cambodia certain vital member | global | middl class mani way road |
| also | way road lead asia road | also | turn superhighway draw world much |
| global | draw world much closer togeth | global | economi entwin ever past three |
| economi | world much closer togeth global | economi | entwin ever past three decad |
| global | increas factor ten time crisi | global | capit flow tripl level nowher |
| global | crise like harm saw play | global | financi crisi interconnect world even |
| econom | crisi interconnect world even smallest | econom | drumbeat amplifi echo reverber across |
| global | tone pitch anoth risk highspe | global | economi mani peopl get left |
| economi | pitch anoth risk highspe global | economi | mani peopl get left behind |
| growth | rise inequ turn threaten sustain | growth | econom stabil social cohes live |
| econom | inequ turn threaten sustain growth | econom | stabil social cohes live issu |
| econom | stark contrast first wave asian | econom | miracl three decad growth broad |
| growth | asian econom miracl three decad | growth | broad share across popul correct |
| countri | point cambodia fit pictur far | countri | navig world interconnect extrem well |
| growth | well rise noth short remark | growth | averag around percent past decad |
| growth | capita incom forward march continu | growth | expect around percent year next |
| also | alon rise tenfold sinc tourism | also | grow diversifi peopl find place |
| countri | peopl find place love beauti | countri | perform support sound macroeconom polici |
| polici | countri perform support sound macroeconom | polici | manag policymak manag public purs |
| also | wellsupervis sound financi system cambodia | also | fair well insul financi turbul |
| global | well insul financi turbul wider | global | economi given fair limit direct |
| economi | insul financi turbul wider global | economi | given fair limit direct linkag |
| market | limit direct linkag intern capit | market | fact capit flow cambodia form |
| global | cambodia form fdi still headwind | global | capit market end easi money |
| market | fdi still headwind global capit | market | end easi money unit state |
| economi | money unit state affect region | economi | spill cambodia key cambodia continu |
| polici | forward think three prioriti public | polici | lay foundat futur success ensur |
| countri | educ take candl enlighten entir | countri | entir region entir world especi |
| countri | world especi import cambodia youth | countri | third popul age cambodia cusp |
| need | given opportun acquir skill knowledg | need | need educ need job need |
| need | opportun acquir skill knowledg need | need | educ need job need great |
| need | skill knowledg need need educ | need | job need great youth unemploy |
| need | need need educ need job | need | great youth unemploy remain high |
| market | quarter million peopl enter labor | market | everi singl year good progress |
| economi | achiev true potenti turn potenti | economi | next steve job mari curi |
| need | futur end educ howev cambodia | need | invest infrastructur especi power facil |
| need | especi power facil road bridg | need | greater econom diversif includ rural |
| econom | facil road bridg need greater | econom | diversif includ rural develop need |
| need | econom diversif includ rural develop | need | stronger institut govern need better |
| need | develop need stronger institut govern | need | better busi climat base imparti |
| growth | cambodia follow footstep asian success | growth | need becom inclus lift everybodi |
| need | follow footstep asian success growth | need | becom inclus lift everybodi togeth |
| growth | know poverti inequ bad sustain | growth | kind growth cambodia need becom |
| growth | inequ bad sustain growth kind | growth | cambodia need becom vibrant emerg |
| need | sustain growth kind growth cambodia | need | becom vibrant emerg market make |
| market | cambodia need becom vibrant emerg | market | make harder peopl get financ |
| financ | market make harder peopl get | financ | make countri vulner econom shock |
| countri | harder peopl get financ make | countri | vulner econom shock reduc trust |
| econom | get financ make countri vulner | econom | shock reduc trust lifeblood econom |
| econom | econom shock reduc trust lifeblood | econom | progress great khmer proverb speak |
| need | poor skirt surround bodi brain | need | brawn big ship depend small |
| growth | boat support small boat make | growth | inclus spend social sector especi |
| also | secur greater access financi servic | also | crucial step stone success talk |
| market | studi let women particip labor | market | degre men rais per capita |
| global | percent women particip labor forc | global | averag percent even women earn |
| econom | prosper region region rise rapid | econom | promin call sustain commit open |
| econom | promin call sustain commit open | econom | cooper valu alway serv asia |
| countri | world know cambodia especi asean | countri | commit deeper cooper asean econom |
| econom | countri commit deeper cooper asean | econom | communiti expect come line major |
| market | peopl immedi offer cambodia larger | market | larger fdi lead job also |
| also | market larger fdi lead job | also | lead greater financi integr turn |
| economi | right cambodia get credit make | economi | safer allow insur advers develop |
| countri | servic cours integr come cost | countri | like cambodia could overwhelm surg |
| need | warn sign rapid credit expans | need | manag care monetari financi polici |
| polici | need manag care monetari financi | polici | talk econom cooper must mention |
| econom | care monetari financi polici talk | econom | cooper must mention imf imf |
| econom | must mention imf imf forum | econom | cooper world today cooper found |
| economi | stood togeth built foundat institut | economi | promis continu stand togeth serv |
| economi | leav call upon creat dynam | economi | tomorrow push cambodia toward frontier |
| need | precrisi imbal could fulli avert | need | bring back growth prosper cypriot |
| growth | fulli avert need bring back | growth | prosper cypriot economi conclud author |
| economi | bring back growth prosper cypriot | economi | conclud author full agenda ahead |
| economi | uniqu opportun use momentum turn | economi | around |
| also | cohost event warm hospit would | also | like thank author pacif island |
| countri | like thank author pacif island | countri | gather togeth main develop partner |
| econom | lino briguglio renown expert smallstat | econom | issu professor stephen how lead |
| polici | opportun share experi best practic | polici | joint explor govern effect implement |
| need | explor govern effect implement reform | need | rais potenti growth region needless |
| growth | implement reform need rais potenti | growth | region needless say role privat |
| also | role privat sector develop partner | also | critic let say word first |
| global | critic let say word first | global | region outlook global growth low |
| global | word first global region outlook | global | growth low gear downsid risk |
| growth | first global region outlook global | growth | low gear downsid risk persist |
| economi | gear downsid risk persist advanc | economi | recov overal recoveri slow hinder |
| market | constraint demand suppli side emerg | market | still lead although slow elev |
| growth | slow elev level recent year | growth | asia forecast around  ½ |
| growth | two year key sourc risk | growth | financi stabil sever economi taper |
| economi | risk growth financi stabil sever | economi | taper unconvent monetari polici advanc |
| polici | sever economi taper unconvent monetari | polici | advanc economi growth slowdown region |
| economi | taper unconvent monetari polici advanc | economi | growth slowdown region undoubt also |
| growth | unconvent monetari polici advanc economi | growth | slowdown region undoubt also affect |
| also | economi growth slowdown region undoubt | also | affect pacif island small open |
| economi | affect pacif island small open | economi | whose busi cycl increas depend |
| growth | put favor posit small state | growth | asia remain solid growth remain |
| growth | state growth asia remain solid | growth | remain challeng samoa vanuatu take |
| polici | samoa focus resili turn attent | polici | need lift potenti growth pacif |
| need | focus resili turn attent polici | need | lift potenti growth pacif island |
| growth | attent polici need lift potenti | growth | pacif island take account high |
| polici | depend small state second takeaway | polici | matter must acknowledg serious constraint |
| economi | serious constraint challeng face island | economi | includ geographi also seen countri |
| also | face island economi includ geographi | also | seen countri pursu structur reform |
| countri | economi includ geographi also seen | countri | pursu structur reform recent year |
| global | build resili fiscal space cope | global | downturn learn econom structur polici |
| econom | space cope global downturn learn | econom | structur polici must better tailor |
| polici | global downturn learn econom structur | polici | must better tailor condit pacif |
| polici | author tackl problem today talk | polici | find pragmat solut policymak let |
| countri | smallstat agenda forward deepen understand | countri | circumst ensur intern communiti better |
| growth | discuss april grant poverti reduct | growth | trust prgt elig mean lend |
| countri | term three addit pacif island | countri | marshal island micronesia tuvalu request |
| growth | assist favor term imf work | growth | confirm two main messag prerequisit |
| growth | confirm two main messag prerequisit | growth | macroeconom polici matter global financi |
| polici | main messag prerequisit growth macroeconom | polici | matter global financi crisi seen |
| global | prerequisit growth macroeconom polici matter | global | financi crisi seen countri sound |
| countri | matter global financi crisi seen | countri | sound macro fundament healthi buffer |
| growth | much faster other take rais | growth | growth essenti address fiscal imbal |
| growth | faster other take rais growth | growth | essenti address fiscal imbal enhanc |
| econom | fiscal imbal enhanc resili inde | econom | growth best sourc resili growth |
| growth | imbal enhanc resili inde econom | growth | best sourc resili growth without |
| growth | econom growth best sourc resili | growth | without job sustain growth import |
| growth | resili growth without job sustain | growth | import resili also inclus sustain |
| also | job sustain growth import resili | also | inclus sustain done first improv |
| growth | privat sector develop imped sustain | growth | public invest infrastructur could help |
| growth | implement develop plan support sustain | growth | pacif island solid develop plan |
| need | pacif island solid develop plan | need | integr budget framework prevent procycl |
| financ | bolster public institut particular public | financ | manag reform would also improv |
| also | public financ manag reform would | also | improv expenditur effici fourth pursu |
| countri | disast region approach help individu | countri | mitig challeng associ small size |
| also | size high dispers region approach | also | encourag align regul law across |
| need | allow imf better reflect state | need | program design technic assist work |
| also | technic assist work small state | also | part imf global polici agenda |
| global | small state also part imf | global | polici agenda recent discuss imf |
| polici | state also part imf global | polici | agenda recent discuss imf execut |
| need | program design meet small state | need | continu capac build technic assist |
| need | includ sever studi one focus | need | leverag region integr neighbor countri |
| countri | need leverag region integr neighbor | countri | achiev sustain growth apd staff |
| growth | integr neighbor countri achiev sustain | growth | apd staff also work studi |
| also | achiev sustain growth apd staff | also | work studi underscor need stronger |
| need | staff also work studi underscor | need | stronger fiscal framework sustain potenti |
| growth | stronger fiscal framework sustain potenti | growth | rate paper present today final |
| economi | present today final pacif island | economi | must move valu chain increas |
| econom | chain increas competit incom level | econom | diversif may challeng potenti tap |
| also | remain huge move valu chain | also | import make growth inclus resourcerich |
| growth | valu chain also import make | growth | inclus resourcerich countri discuss preliminari |
| countri | import make growth inclus resourcerich | countri | discuss preliminari find ongo studi |
| polici | prepar guidanc note staff ensur | polici | advic surveil tailor need small |
| need | ensur polici advic surveil tailor | need | small state program design abl |
| need | abl far meet small member | need | current extend credit facil ecf |
| financ | donor support samoa receiv emerg | financ | earlier year follow destruct cyclon |
| growth | follow destruct cyclon given central | growth | sustain ensur program design meet |
| need | program design meet small state | need | must translat focus growth program |
| growth | state need must translat focus | growth | program straightforward acknowledg henc propos |
| growth | state fundsupport program includ explicit | growth | agenda obvious content depend govern |
| countri | member sustain commit pacif island | countri | best maintain leadership role region |
| also | region addit pftac technic assist | also | provid imf staff mission sent |
| countri | first onlin train cours member | countri | offici financi program polici pilot |
| polici | member countri offici financi program | polici | pilot cours open member countri |
| countri | polici pilot cours open member | countri | offici come month add cours |
| also | pacif island internet access key | also | increas synergi intern institut world |
| countri | adb want thank world bank | countri | director pacif island adb region |
| growth | tobago septemb host confer bahama | growth | challeng face caribbean island also |
| also | growth challeng face caribbean island | also | host recent confer timorlest commod |
| also | region resid repres base suva | also | activ liais region organ facilit |
| polici | region organ facilit exchang bestpractic | polici | across island let make final |
| growth | island differ one anoth face | growth | challeng demand strong correct polici |
| polici | growth challeng demand strong correct | polici | year preced global financi crisi |
| global | strong correct polici year preced | global | financi crisi pacif island growth |
| growth | global financi crisi pacif island | growth | averag percent year much lower |
| countri | year much lower asian lowincom | countri | grew percent annual eastern caribbean |
| countri | annual eastern caribbean currenc union | countri | percent small state  ½ |
| polici | percent first session set scene | polici | need lift growth session discuss |
| need | first session set scene polici | need | lift growth session discuss practic |
| growth | set scene polici need lift | growth | session discuss practic solut pacif |
| global | integr rest asian pacif region | global | seem help pacif island much |
| countri | seem help pacif island much | countri | includ lowincom countri asia despit |
| countri | island much countri includ lowincom | countri | asia despit island proxim vibrant |
| need | island proxim vibrant region world | need | identifi polici help eas constraint |
| polici | vibrant region world need identifi | polici | help eas constraint privat sector |
| need | financi inclus leverag publicpriv partnership | need | growth strategi engag pacif island |
| growth | inclus leverag publicpriv partnership need | growth | strategi engag pacif island stakehold |
| polici | partner enhanc connect session focus | polici | scheme help build resili natur |
| polici | disast climatechang shock domest intern | polici | help pic prepar adapt climat |
| polici | pic prepar adapt climat chang | polici | scheme address fiscal cost climat |
| polici | climat chang final session discuss | polici | enhanc macrofisc stabil institut macrost |
| growth | key challeng achiev sustain potenti | growth | reduc poverti region insul budget |
| need | ensur better composit public spend | need | key element develop partner capacitybuild |
| countri | let reiter listen view learn | countri | ultim hope fruit stimul discuss |
| financ | prepar deliveryright honor presid honor | financ | minist governor excel distinguish guest |
| countri | given wonder opportun visit beauti | countri | confer financi sector develop strategi |
| growth | financi sector develop strategi inclus | growth | take place import time economi |
| economi | growth take place import time | economi | financi system emerg develop asia |
| growth | rate flexibl set region high | growth | path support financi system remain |
| global | financi system remain robust face | global | financi crisi year seen increas |
| growth | taper u feder reserv import | growth | prospect weaken littl inde octob |
| growth | continu hold promis sustain inclus | growth | mediumterm challeng address first would |
| growth | larg portion popul hinder inclus | growth | constrain region econom potenti challeng |
| econom | hinder inclus growth constrain region | econom | potenti challeng boost access financi |
| countri | increas financi inclus especi critic | countri | social vulner recent increas financi |
| polici | vulner recent increas financi sector | polici | could also help channel credit |
| also | increas financi sector polici could | also | help channel credit jobcreat small |
| financ | often face sever constraint access | financ | especi true countri share workingag |
| countri | constraint access financ especi true | countri | share workingag popul rise domest |
| market | workingag popul rise domest capit | market | asia develop apac still signific |
| market | increas part due asian bond | market | initi infrastructur invest need sustain |
| need | bond market initi infrastructur invest | need | sustain growth requir higher avail |
| growth | initi infrastructur invest need sustain | growth | requir higher avail longterm fund |
| market | longterm fund larger corpor bond | market | facilit financ infrastructur project also |
| financ | larger corpor bond market facilit | financ | infrastructur project also help bank |
| also | market facilit financ infrastructur project | also | help bank diversifi matur structur |
| market | liabil third challeng greater financi | market | integr asia financi market integr |
| market | financi market integr asia financi | market | integr among intern market instanc |
| market | financi market integr among intern | market | instanc crossbord financi flow still |
| economi | still take place main advanc | economi | outsid asia closer region financi |
| econom | financi integr exampl envisag asean | econom | communiti could also help channel |
| also | envisag asean econom communiti could | also | help channel fund net save |
| countri | help channel fund net save | countri | borrow enabl better risk share |
| countri | enabl better risk share across | countri | financi market integr like advanc |
| market | risk share across countri financi | market | integr like advanc period ahead |
| growth | advanc period ahead creat opportun | growth | within asia also new risk |
| also | creat opportun growth within asia | also | new risk fourth challeng relat |
| market | relat emerg nonbank institut capit | market | develop nonbank financi player becom |
| countri | capit outflow overal impact manag | countri | india indonesia subject greater market |
| market | countri india indonesia subject greater | market | stress market condit stabil inde |
| market | indonesia subject greater market stress | market | condit stabil inde improv recent |
| need | challeng taper eventu come asia | need | readi especi economi weaker fundament |
| economi | come asia need readi especi | economi | weaker fundament higher exposur global |
| global | economi weaker fundament higher exposur | global | financi condit extern demand countri |
| countri | global financi condit extern demand | countri | effect taper could amplifi domest |
| countri | high household debt leverag corpor | countri | strong fundament credibl polici would |
| polici | corpor countri strong fundament credibl | polici | would abl offset import tighten |
| polici | abl offset import tighten lower | polici | rate fiscal support other delay |
| growth | respond procycl tighten would weaken | growth | second shortterm challeng concern monetari |
| polici | second shortterm challeng concern monetari | polici | current accommod monetari stanc provid |
| economi | stanc provid insur downsid risk | economi | subdu inflat slow activ would |
| growth | inflow high india indonesia credit | growth | over expansionari mongolia lao pdr |
| polici | expansionari mongolia lao pdr monetari | polici | may need tighten also challeng |
| need | lao pdr monetari polici may | need | tighten also challeng rapid rise |
| also | monetari polici may need tighten | also | challeng rapid rise asset price |
| growth | rapid rise asset price credit | growth | experienc part asia result financi |
| need | part asia result financi imbal | need | address combin monetari macroprudenti polici |
| polici | need address combin monetari macroprudenti | polici | well regul exampl china prioriti |
| polici | foster effici alloc invest macroprudenti | polici | togeth strong microprudenti effort continu |
| global | financi stabil protect financi system | global | condit tighten would also like |
| also | system global condit tighten would | also | like underscor urgent need strengthen |
| need | would also like underscor urgent | need | strengthen regulatori framework nepal nepal |
| need | bank willing lend financi supervis | need | becom comprehens forwardlook risk base |
| also | comprehens forwardlook risk base work | also | need fiscal side countri moder |
| need | forwardlook risk base work also | need | fiscal side countri moder pace |
| countri | work also need fiscal side | countri | moder pace consolid warrant rebuild |
| growth | consolid warrant rebuild fiscal space | growth | disappoint general scope allow automat |
| countri | oper case provid fiscal support | countri | high deficit debt would littl |
| polici | would littl room countercycl fiscal | polici | case structur reform becom even |
| global | becom even clearer relat calm | global | financi market offer opportun progress |
| market | clearer relat calm global financi | market | offer opportun progress front final |
| countri | imf mandat call support effort | countri | address mani challeng outlin continu |
| countri | effort support sustain financi deepen | countri | shallow financi system continu support |
| polici | system continu support member develop | polici | tackl volatil capit flow prepar |
| economi | scale back monetari accommod advanc | economi | trace interconnect within countri say |
| countri | advanc economi trace interconnect within | countri | say financi sector real economi |
| economi | countri say financi sector real | economi | countri today interconnect world spillov |
| countri | say financi sector real economi | countri | today interconnect world spillov domest |
| polici | today interconnect world spillov domest | polici | may well feed back began |
| also | implic lot attent surveil imf | also | stand readi provid financ support |
| financ | imf also stand readi provid | financ | support appropri adjust reform essenti |
| global | appropri adjust reform essenti element | global | financi safeti net also continu |
| also | element global financi safeti net | also | continu strengthen imf lend toolkit |
| financ | explor possibl enhanc synergi region | financ | arrang close let say policymak |
| need | let say policymak respons cours | need | tailor individu countri need nonetheless |
| countri | respons cours need tailor individu | countri | need nonetheless continu learn experi |
| need | cours need tailor individu countri | need | nonetheless continu learn experi imf |
| also | host governor mohammad alhashel would | also | like acknowledg minist financ sheikh |
| financ | would also like acknowledg minist | financ | sheikh salem abdulaziz alsabah great |
| global | region especi kuwait thrive corner | global | economi worldrenown emblem hospit live |
| economi | especi kuwait thrive corner global | economi | worldrenown emblem hospit live embodi |
| economi | ancient nobl cultur recent year | economi | made tremend progress gulf region |
| need | region must continu build gain | need | address overcom three distinct type |
| growth | sure region continu support stabil | growth | uncertain world two challeng futur |
| global | st centuri three challeng common | global | citizenship recogn interconnect world problem |
| global | begin challeng present happen broader | global | economi affect gulf region well |
| economi | challeng present happen broader global | economi | affect gulf region well awar |
| econom | affect gulf region well awar | econom | storm elsewher easili reach shore |
| market | strength wind lessgood news emerg | market | pull global economi past year |
| global | lessgood news emerg market pull | global | economi past year slow bit |
| economi | news emerg market pull global | economi | past year slow bit reflect |
| econom | year slow bit reflect turn | econom | cycl fact countri bump structur |
| countri | reflect turn econom cycl fact | countri | bump structur impedi growth overal |
| growth | fact countri bump structur impedi | growth | overal expect growth emerg market |
| growth | structur impedi growth overal expect | growth | emerg market develop countri around |
| market | growth overal expect growth emerg | market | develop countri around percent next |
| countri | expect growth emerg market develop | countri | around percent next year half |
| growth | year half percent lower year | growth | transit complic volatil extern environ |
| polici | environ liquid tap u monetari | polici | expect turn slowli financi flow |
| market | financi flow lift prospect emerg | market | start reced see sign stress |
| countri | start reced see sign stress | countri | like brazil india indonesia south |
| polici | spend cut futur path fiscal | polici | unit state also add global |
| also | path fiscal polici unit state | also | add global headwind region far |
| global | polici unit state also add | global | headwind region far good nonoil |
| growth | region far good nonoil gdp | growth | gulf region strong percent kuwait |
| growth | region strong percent kuwait nonoil | growth | continu rise trough reach  |
| global | oil region still somewhat insul | global | economi even though trade financi |
| economi | region still somewhat insul global | economi | even though trade financi link |
| polici | financi link increas second region | polici | line defens second none let |
| global | weaker howev place like oman | global | turbul could turn surplus deficit |
| econom | fiscal posit provid secur comfort | econom | situat deterior region maintain even |
| need | weaken without regular mainten region | need | keep strengthen fiscal framework help |
| need | substanti invest larg infrastructur project | need | find way contain current spend |
| also | futur benefit next generat region | also | strong defens financi contagion bank |
| countri | fund cost could affect financiallyintegr | countri | includ region financi center like |
| also | kuwait weak balanc sheet could | also | take hit macroprudenti polici use |
| polici | could also take hit macroprudenti | polici | use tame tension give central |
| also | give central bank autonomi kuwait | also | help strengthen defens overal believ |
| need | day come run dri asid | need | wean planet depend fossil fuel |
| economi | black day mean mean make | economi | divers mean creat job privat |
| also | use improv peopl live region | also | becom major destin foreign worker |
| also | sourc remitt famili back home | also | financi center hub intern trade |
| growth | high product key driver longterm | growth | declin stagnat key problem nation |
| countri | privat sector true kuwait gulf | countri | broad clear trend sustain move |
| need | trend sustain move forward region | need | invest infrastructur skill peopl need |
| need | need invest infrastructur skill peopl | need | exploit natur advantag favor locat |
| also | choos secur tomorrow ephemer today | also | forget benefit partnership largescal invest |
| countri | infrastructur work better coordin across | countri | come invest skill peopl noth |
| global | compet highpay job best brightest | global | economi real concern student region |
| economi | highpay job best brightest global | economi | real concern student region score |
| also | jabir ibn hayyan legaci confid | also | destini beyond educ polici help |
| polici | confid also destini beyond educ | polici | help secur futur innov entrepreneurship |
| econom | one issu one close heart | econom | contribut women long race ahead |
| econom | sound let women particip fulli | econom | life yield enorm econom benefit |
| econom | fulli econom life yield enorm | econom | benefit demonstr recent imf studi |
| market | almost tripl averag gap emerg | market | develop economi gap simpli doubl |
| economi | averag gap emerg market develop | economi | gap simpli doubl instead tripl |
| countri | tripl gain entir region gulf | countri | includ would enorm almost trillion |
| economi | attitud hold women back damag | economi | degrad societi know done make |
| econom | access qualiti educ remov restrict | econom | role women mobil particip certain |
| global | futur region secur challeng common | global | citizenshipso far talk challeng present |
| global | turn third area challeng common | global | citizenship believ strong countri cooper |
| countri | common global citizenship believ strong | countri | cooper work togeth everybodi better |
| global | togeth everybodi better increas interconnect | global | economi thrive best pitch tent |
| economi | everybodi better increas interconnect global | economi | thrive best pitch tent next |
| global | cooper council wire certain action | global | oil market import impetus global |
| market | wire certain action global oil | market | import impetus global stabil alway |
| global | global oil market import impetus | global | stabil alway readi lend help |
| countri | help hand neighbor includ arab | countri | transit egypt jordan libya morocco |
| economi | tunisia yemen transit toward inclus | economi | becom challeng dramat countri know |
| countri | inclus economi becom challeng dramat | countri | know need great mani peopl |
| need | becom challeng dramat countri know | need | great mani peopl still exclud |
| econom | great mani peopl still exclud | econom | life chanc make way world |
| countri | conserv estim suggest unemploy arab | countri | transit increas  ½ million |
| countri | Â ½ million peopl sinc | countri | risk trap selffulfil cycl stagnat |
| need | trap selffulfil cycl stagnat strife | need | extern support ever need breath |
| need | strife need extern support ever | need | breath space put place reform |
| need | breath space put place reform | need | make competit make growth inclus |
| growth | reform need make competit make | growth | inclus need fund help bring |
| need | make competit make growth inclus | need | fund help bring fiscal deficit |
| countri | council provid extens financi support | countri | would like express profound appreci |
| need | communiti stand side side time | need | urgent topic broader global cooper |
| global | time need urgent topic broader | global | cooper let talk briefli role |
| need | conduit intern communiti help time | need | kuwait know attach great import |
| global | would like see imf kind | global | dewaniya true meet communiti nation |
| need | enough resourc abl help member | need | turbul world kuwait other gulf |
| financ | use combat money launder terror | financ | kuwait gulf countri also consent |
| countri | launder terror financ kuwait gulf | countri | also consent quota increas make |
| also | terror financ kuwait gulf countri | also | consent quota increas make imf |
| global | legitim henc credibl relev modern | global | economi thank hope govern reform |
| economi | henc credibl relev modern global | economi | thank hope govern reform complet |
| also | govern reform complet soon possibl | also | partner provis train technic assist |
| polici | technic assist know well sound | polici | built upon sound foundat imf |
| econom | foundat imf middl east center | econom | financ kuwait citi pleasur visit |
| financ | imf middl east center econom | financ | kuwait citi pleasur visit morn |
| countri | offer past train govern offici | countri | center sure payment bright futur |
| also | center sure payment bright futur | also | work close surveil polici advic |
| polici | futur also work close surveil | polici | advic area direct relev kuwait |
| global | neighbor exampl includ assess spillov | global | economi region strengthen fiscal macroprudenti |
| economi | exampl includ assess spillov global | economi | region strengthen fiscal macroprudenti polici |
| polici | economi region strengthen fiscal macroprudenti | polici | institut explor way sustain strong |
| growth | institut explor way sustain strong | growth | job creation nation nonoil sector |
| countri | announc releas book macroeconom arab | countri | gulf today far know book |
| countri | provid origin insight function gulf | countri | polici challeng ahead mark import |
| polici | origin insight function gulf countri | polici | challeng ahead mark import mileston |
| need | whole agenda job serv meet | need | help meet challeng today tomorrow |
| also | success past innov open inclus | also | shape success futur let assur |
| economi | exchang idea latest develop world | economi | research depart alway put togeth |
| econom | particip confer focus year confer | econom | crise one defin issu time |
| countri | display various way across mani | countri | scar global financi crisi number |
| global | way across mani countri scar | global | financi crisi number advanc economi |
| economi | global financi crisi number advanc | economi | cost crisi continu stagger struggl |
| also | struggl high persist unemploy crisi | also | thrown number complex polici question |
| polici | crisi also thrown number complex | polici | question restor aggreg demand deal |
| polici | currenc zone unwind unconvent monetari | polici | emerg market countri manag heighten |
| market | unwind unconvent monetari polici emerg | market | countri manag heighten vulner face |
| countri | unconvent monetari polici emerg market | countri | manag heighten vulner face slower |
| growth | manag heighten vulner face slower | growth | volatil capit flow sure particip |
| econom | honor stanley fischer lifelong contribut | econom | research polici theme confer fit |
| polici | fischer lifelong contribut econom research | polici | theme confer fit one celebr |
| polici | began academia mit begin whet | polici | appetit work help arrest isra |
| market | fund tenur dealt wave emerg | market | crise span mexico east asia |
| economi | innov great skill success steer | economi | turbul storm recent year everi |
| also | policymak besid except policymak stan | also | dear friend mani us gratifi |
| econom | confer program provid new insight | econom | crise three broad area polici |
| polici | econom crise three broad area | polici | close relat research program pursu |
| economi | role recent travail euro area | economi | analysi implic likelihood crise countri |
| countri | economi analysi implic likelihood crise | countri | paper program discuss lesson europ |
| countri | currenc depreci aftermath crise perform | countri | differ type exchang rate regim |
| polici | rate regim imf activ engag | polici | debat exchang rate regim subject |
| economi | freeli float regim avail option | economi | buffet ebb flow global financ |
| global | option economi buffet ebb flow | global | financ seri recent studi fund |
| financ | economi buffet ebb flow global | financ | seri recent studi fund outlin |
| polici | explor effect recent crisi monetari | polici | framework paper care document evolut |
| polici | care document evolut feder reserv | polici | market communic crisi progress examin |
| market | document evolut feder reserv polici | market | communic crisi progress examin cost |
| also | inflat target nomin incom target | also | assess role accommod monetari polici |
| polici | also assess role accommod monetari | polici | mitig extens supplysid damag wrought |
| polici | crisi emphas benefici role type | polici | also point policymak take account |
| also | emphas benefici role type polici | also | point policymak take account unconvent |
| polici | policymak take account unconvent monetari | polici | advers affect financi stabil inflat |
| also | affect financi stabil inflat imf | also | work implic unconvent monetari polici |
| polici | also work implic unconvent monetari | polici | find indic unconvent monetari polici |
| polici | polici find indic unconvent monetari | polici | success stabil financi market earli |
| market | monetari polici success stabil financi | market | earli global financi crisi polici |
| global | success stabil financi market earli | global | financi crisi polici also posit |
| polici | market earli global financi crisi | polici | also posit effect econom activ |
| also | earli global financi crisi polici | also | posit effect econom activ inflat |
| econom | crisi polici also posit effect | econom | activ inflat countri practic crisi |
| countri | posit effect econom activ inflat | countri | practic crisi stan ahead curv |
| polici | stan ahead curv use unconvent | polici | launch program quantit eas consist |
| also | consist find present confer research | also | recogn potenti risk associ prolong |
| polici | potenti risk associ prolong use | polici | complac reform agenda financi stabil |
| polici | central bank credibl overal howev | polici | far benefici net advanc economi |
| economi | polici far benefici net advanc | economi | global basi sure need better |
| global | far benefici net advanc economi | global | basi sure need better understand |
| need | advanc economi global basi sure | need | better understand nation impact polici |
| polici | need better understand nation impact | polici | crossbord spillov effect confer paper |
| also | add knowledg difficult topic fund | also | activ research program third area |
| polici | sever paper cast light fiscal | polici | respons crise import fiscal stanc |
| economi | paper studi perform latin american | economi | recent crisi east asian economi |
| economi | economi recent crisi east asian | economi | crisi paper draw implic episod |
| polici | european experi claim stanc fiscal | polici | key factor growth perform crisi |
| growth | stanc fiscal polici key factor | growth | perform crisi countri region imf |
| countri | key factor growth perform crisi | countri | region imf work also confirm |
| also | crisi countri region imf work | also | confirm vital role fiscal polici |
| polici | also confirm vital role fiscal | polici | especi prevail crisi environ recent |
| polici | prevail crisi environ recent produc | polici | paper summar major find cut |
| polici | find cut edg research fiscal | polici | evid research conduct sinc crisi |
| polici | conduct sinc crisi suggest fiscal | polici | effect recessionfight tool certain condit |
| polici | recessionfight tool certain condit monetari | polici | constrain lower bound financi sector |
| polici | fiscal space abl conduct countercycl | polici | light newli wit vulner advanc |
| economi | light newli wit vulner advanc | economi | sovereign debt crise roadmap mediumterm |
| also | crise roadmap mediumterm fiscal consolid | also | critic import success necessari fiscal |
| econom | stock exchang view expand reach | econom | analysi polici make econom forum |
| polici | view expand reach econom analysi | polici | make econom forum schedul tomorrow |
| econom | reach econom analysi polici make | econom | forum schedul tomorrow afternoon focus |
| polici | forum schedul tomorrow afternoon focus | polici | respons crise also promis eyeopen |
| also | afternoon focus polici respons crise | also | promis eyeopen event excel list |
| also | viermetz make occas possibl would | also | like thank gari smith pamela |
| also | work chart new direct futur | also | challeng core polici agenda increas |
| polici | direct futur also challeng core | polici | agenda increas interconnect world economi |
| economi | polici agenda increas interconnect world | economi | communiti nation emerg five year |
| global | communiti nation emerg five year | global | financi crisi clear interconnected unmitig |
| countri | busi disrupt factori move develop | countri | financi market sentiment chang avail |
| market | factori move develop countri financi | market | sentiment chang avail capit becom |
| global | genesi came wake last devast | global | econom crisi end great depress |
| econom | came wake last devast global | econom | crisi end great depress world |
| econom | great depress world war ii | econom | world fragment barrier trade capit |
| financ | rebuild link captur gain trade | financ | time sought instil commit sensibl |
| global | well near year imf pursu | global | stabil prosper era mark deepen |
| global | stabil prosper era mark deepen | global | interconnected world emerg anoth deep |
| countri | anoth deep financi crisi g | countri | taken job promot econom recoveri |
| econom | g countri taken job promot | econom | recoveri reform rule govern financ |
| financ | econom recoveri reform rule govern | financ | design reduc odd crisi recur |
| market | gain interconnected evid seen emerg | market | steep upward converg path toward |
| economi | upward converg path toward advanc | economi | live standard also evid mani |
| also | toward advanc economi live standard | also | evid mani low incom countri |
| countri | also evid mani low incom | countri | aspir emerg market status boost |
| market | low incom countri aspir emerg | market | status boost growth rate pois |
| growth | aspir emerg market status boost | growth | rate pois converg takeoff take |
| countri | converg takeoff take exampl ghana | countri | signific reduc proport popul live |
| market | less day one sever frontier | market | countri recent abl issu eurobond |
| countri | day one sever frontier market | countri | recent abl issu eurobond intern |
| market | abl issu eurobond intern capit | market | unpreced potenti poverti allevi better |
| market | across globe converg sustain creat | market | futur potenti vast market germani |
| market | creat market futur potenti vast | market | germani advanc economi howev upsid |
| economi | potenti vast market germani advanc | economi | howev upsid scenario materi intern |
| need | togeth reap gain equal import | need | better manag risk aris interconnected |
| market | seen weak failur bank capit | market | spread intern financi system whether |
| econom | intern financi system whether world | econom | area pollut pandem intern secur |
| econom | mutual gain minim risk realm | econom | nation must act first foremost |
| need | feel oper world cannot satisfi | need | calm concern peopl act pundit |
| global | act pundit observ cannot good | global | govern overcom shortcom nation govern |
| econom | embark first remark journey european | econom | integr unif east west cours |
| global | integr unif east west cours | global | challeng foster cooper formal integr |
| growth | parallel nation wellb depend stabil | growth | cooper broader communiti nation offer |
| econom | preambl would like even describ | econom | horizon lie ahead world economi |
| economi | econom horizon lie ahead world | economi | emerg difficult crisi travers landscap |
| global | centuri let say word outlook | global | econom recoveri recent world econom |
| econom | let say word outlook global | econom | recoveri recent world econom outlook |
| econom | global econom recoveri recent world | econom | outlook project global growth percent |
| global | recent world econom outlook project | global | growth percent year level insuffici |
| growth | world econom outlook project global | growth | percent year level insuffici restor |
| growth | million job lost crisi howev | growth | return advanc economi financi stabil |
| economi | crisi howev growth return advanc | economi | financi stabil restor u recov |
| economi | way go recent deceler emerg | economi | crucial engin growth sinc crisi |
| growth | deceler emerg economi crucial engin | growth | sinc crisi hit suggest recoveri |
| countri | suggest recoveri remain uncertain develop | countri | show real strength subsaharan africa |
| market | world secondfast grow region emerg | market | posit trend underlin import get |
| global | posit trend underlin import get | global | growth back track yet someth |
| growth | trend underlin import get global | growth | back track yet someth new |
| global | yet someth new strike tentat | global | econom recoveri fog crisi reced |
| econom | someth new strike tentat global | econom | recoveri fog crisi reced see |
| global | busi confid return howev legaci | global | financi crisi time differ time |
| global | mani pleas europ longer domin | global | discuss imf annual meet held |
| global | avert acut crisi import achiev | global | economi cannot overst europ still |
| economi | acut crisi import achiev global | economi | cannot overst europ still face |
| countri | crisi includ remedi insuffici demand | countri | around eurozon peripheri deal overhang |
| growth | provid basi stabl sustain strong | growth | task take time imper europ |
| also | calendar establish singl supervisori mechan | also | polit commit sever element bank |
| countri | futur consider short term individu | countri | task balanc mediumterm consolid immedi |
| need | task balanc mediumterm consolid immedi | need | growthfriend polici know difficult question |
| polici | mediumterm consolid immedi need growthfriend | polici | know difficult question fiscal union |
| countri | question fiscal union particular controversi | countri | europ issu intract address take |
| polici | financi system u cannot address | polici | challeng isol subject turn next |
| countri | troika ec ecb address crisi | countri | prepar offer advic set global |
| global | countri prepar offer advic set | global | dialogu germani european partner may |
| econom | els go world profound affect | econom | interest second transit u monetari |
| market | u monetari policyfor month financi | market | emerg countri policymak focus upcom |
| countri | policyfor month financi market emerg | countri | policymak focus upcom normal u |
| polici | focus upcom normal u monetari | polici | task difficult pose uncertainti market |
| market | polici task difficult pose uncertainti | market | world decis u feder reserv |
| polici | launch come known unconvent monetari | polici | gamechang push monetari polici limit |
| polici | monetari polici gamechang push monetari | polici | limit includ unorthodox asset purchas |
| market | asset purchas program stabil financi | market | avert econom catastroph support activ |
| econom | program stabil financi market avert | econom | catastroph support activ therebi laid |
| need | foundat eventu recoveri soon u | need | begin normal financi condit fed |
| polici | strategi deal exit unconvent monetari | polici | offer call forward guidanc explain |
| growth | depend mean begin exit certain | growth | employ threshold met rather certain |
| polici | compound uncertainti surround u fiscal | polici | polit battl last month shutdown |
| polici | demonstr unsettl lack decis nation | polici | make home abroad central banker |
| market | make home abroad central banker | market | particip around world scrutin everi |
| polici | summer topic number one fed | polici | communic would case even decad |
| market | month ask fed would act | market | would react reason unit state |
| economi | gain demand associ stronger u | economi | also feel effect higher interest |
| also | demand associ stronger u economi | also | feel effect higher interest rate |
| countri | higher interest rate gain balanc | countri | compani feel pain know market |
| market | countri compani feel pain know | market | react along way moreov normal |
| polici | way moreov normal convent monetari | polici | e interest rate typic recess |
| polici | take year two normal unconvent | polici | deep recess expect market take |
| market | unconvent polici deep recess expect | market | take mani year transit part |
| global | take mani year transit part | global | polici landscap quit time suggest |
| polici | mani year transit part global | polici | landscap quit time suggest exit |
| polici | quit time suggest exit unconvent | polici | evolv u author special oblig |
| market | dialogu central bank intern communiti | market | stake work togeth understand react |
| econom | import shadow cast china rapid | econom | rise thirdlargest economi world japan |
| economi | china rapid econom rise thirdlargest | economi | world japan renew econom vital |
| econom | thirdlargest economi world japan renew | econom | vital crucial sustain japanes reviv |
| global | japanes reviv would extrem benefici | global | economi seek regain firm foot |
| economi | reviv would extrem benefici global | economi | seek regain firm foot japan |
| economi | japan bold action appear impact | economi | grow sign deflat end howev |
| need | grow sign deflat end howev | need | done cement success prime minster |
| need | minster abe call three arrow | need | fire specif addit bold monetari |
| need | addit bold monetari action japan | need | wellspecifi medium term plan address |
| market | reform includ deregul product servic | market | step increas particip women work |
| economi | particip women work forc japan | economi | capit flow part global presenc |
| global | japan economi capit flow part | global | presenc major impact asian neighbor |
| countri | presenc major impact asian neighbor | countri | half world away polici measur |
| polici | neighbor countri half world away | polici | measur underway especi monetari area |
| polici | area broad implic japan manag | polici | reform essenti policymak also remain |
| also | manag polici reform essenti policymak | also | remain cogniz intern oblig spillov |
| polici | remain cogniz intern oblig spillov | polici | may caus fourth transit emerg |
| economi | cours longer world domin advanc | economi | emerg market generat growth past |
| market | world domin advanc economi emerg | market | generat growth past decad help |
| growth | advanc economi emerg market generat | growth | past decad help keep world |
| economi | past decad help keep world | economi | feet beyond truli emerg sinc |
| economi | live hundr million peopl demand | economi | natur resourc product forc drive |
| growth | resourc product forc drive recent | growth | lowincom countri germani role transform |
| countri | forc drive recent growth lowincom | countri | germani role transform particular export |
| market | export capit good import emerg | market | face transit year ago consider |
| market | ago consider concern among emerg | market | optim risk take investor extent |
| market | capit inflow capit flow financi | market | reassess risk countri tie term |
| countri | flow financi market reassess risk | countri | tie term financ close under |
| financ | reassess risk countri tie term | financ | close under econom fundament upshot |
| econom | tie term financ close under | econom | fundament upshot econom growth emerg |
| econom | close under econom fundament upshot | econom | growth emerg market slow countri |
| growth | under econom fundament upshot econom | growth | emerg market slow countri ask |
| market | fundament upshot econom growth emerg | market | slow countri ask whether slowdown |
| countri | econom growth emerg market slow | countri | ask whether slowdown inevit turn |
| growth | reach precrisi period whether higher | growth | rate recov better polici manag |
| polici | higher growth rate recov better | polici | manag new structur reform whatev |
| market | reform whatev answer question emerg | market | clear face period adjust recalcul |
| global | adjust recalcul develop direct bear | global | economi includ advanc economi germani |
| economi | recalcul develop direct bear global | economi | includ advanc economi germani alreadi |
| economi | bear global economi includ advanc | economi | germani alreadi send around percent |
| market | send around percent export emerg | market | develop countri much potenti futur |
| countri | percent export emerg market develop | countri | much potenti futur export growth |
| growth | countri much potenti futur export | growth | come beyond europ even beyond |
| economi | beyond europ even beyond advanc | economi | howev german export market outsid |
| market | advanc economi howev german export | market | outsid europ fall percent august |
| market | fall percent august suggest import | market | germani time slow european recoveri |
| countri | point focus event within individu | countri | region transit truli transcend border |
| global | truli transcend border postcrisi evolut | global | financi system reform put place |
| econom | liquid along host regulatori chang | econom | bank differ alreadi busi model |
| financ | mediums enterpris mortgag project infrastructur | financ | say iron activ riski well |
| economi | manag provid essenti support grow | economi | long undertaken moder adequ capit |
| also | moder adequ capit adequaci support | also | see migrat activ bank sector |
| polici | back new stronger regulatori environ | polici | maker world need understand happen |
| need | regulatori environ polici maker world | need | understand happen manag transit new |
| econom | happen manag transit new equilibrium | econom | recoveri strong sustain growth depend |
| growth | equilibrium econom recoveri strong sustain | growth | depend build financi system provid |
| financ | financi system provid right amount | financ | right activ right term without |
| countri | risk taxpay interconnect world everi | countri | work nation polici maker must |
| polici | world everi countri work nation | polici | maker must work togeth will |
| econom | aheadtonight tri describ key featur | econom | landscap see us mean global |
| global | econom landscap see us mean | global | econom polici manag remaind decad |
| econom | landscap see us mean global | econom | polici manag remaind decad want |
| polici | see us mean global econom | polici | manag remaind decad want leav |
| polici | impress issu ahead rather heart | polici | challeng face us emerg recent |
| also | work togeth cours longterm trend | also | profound effect economi societi way |
| economi | longterm trend also profound effect | economi | societi way life three might |
| global | actual seem us relev futur | global | growth stabil demograph shift chang |
| growth | seem us relev futur global | growth | stabil demograph shift chang incom |
| polici | offer number illustr immens challeng | polici | maker face billion peopl world |
| countri | world today percent emerg develop | countri | one billion peopl year older |
| countri | end revert origin theme singl | countri | u germani expect manag longterm |
| need | subject core purpos intern cooper | need | engag member countri order carri |
| countri | intern cooper need engag member | countri | order carri mandat support global |
| global | countri order carri mandat support | global | econom growth stabil world manag |
| econom | order carri mandat support global | econom | growth stabil world manag challeng |
| growth | carri mandat support global econom | growth | stabil world manag challeng issu |
| global | well make differ weak jobless | global | economi come year one thrive |
| economi | make differ weak jobless global | economi | come year one thrive creat |
| countri | place simultan imf conven cajol | countri | act believ import challeng germani |
| economi | job build stronger stabl european | economi | foremost mind german policymak import |
| global | peopl long run grow stabl | global | economi prospect steadi converg emerg |
| economi | long run grow stabl global | economi | prospect steadi converg emerg market |
| market | economi prospect steadi converg emerg | market | develop countri may play even |
| countri | steadi converg emerg market develop | countri | may play even greater role |
| global | would face grave risk event | global | interconnected mismanag appeal tonight germani |
| global | work european project lift sight | global | horizon well domest debat european |
| global | make time assess stake manag | global | economi role play manag arduous |
| economi | time assess stake manag global | economi | role play manag arduous transit |
| market | ignit capit outflow mani emerg | market | adjust process most order fed |
| growth | extern fund condit expect weigh | growth | emerg asia addit domest structur |
| also | india declin return invest china | also | drag counteract forc includ stronger |
| growth | drag counteract forc includ stronger | growth | outlook advanc economi weaker currenc |
| economi | includ stronger growth outlook advanc | economi | weaker currenc robust domest demand |
| global | risk outlook faster expect tighten | global | fund condit could substanti affect |
| economi | substanti affect asia larger impact | economi | weaker fundament higher exposur uncertainti |
| global | weaker fundament higher exposur uncertainti | global | market also risk abenom could |
| market | fundament higher exposur uncertainti global | market | also risk abenom could undermin |
| also | higher exposur uncertainti global market | also | risk abenom could undermin confid |
| polici | confid slow recoveri exit deflat | polici | challengesth tighter uncertain global financi |
| global | deflat polici challengesth tighter uncertain | global | financi environ strengthen need coher |
| need | uncertain global financi environ strengthen | need | coher macroeconom framework clear credibl |
| market | intervent smooth volatil ensur order | market | function monetari side current accommod |
| economi | stanc provid insur downsid risk | economi | subdu inflat slow activ inflationari |
| growth | foreign inflow india indonesia credit | growth | over expansionari mongolia lao monetari |
| polici | over expansionari mongolia lao monetari | polici | like need tighten fiscal front |
| need | mongolia lao monetari polici like | need | tighten fiscal front countri moder |
| countri | like need tighten fiscal front | countri | moder pace consolid warrant rebuild |
| growth | consolid warrant rebuild fiscal space | growth | disappoint general scope allow automat |
| growth | provid fiscal support china slow | growth | credit especi shadow bank sector |
| financ | overal govern framework local govern | financ | would help contain fiscal risk |
| need | rise good sign current see | need | monetari eas rather prioriti advanc |
| growth | monetari eas rather prioriti advanc | growth | reform abenom work japan longterm |
| econom | reform abenom work japan longterm | econom | problem need tackl discuss underway |
| need | work japan longterm econom problem | need | tackl discuss underway time new |
| growth | tackl discuss underway time new | growth | strategi includ labor market reform |
| market | new growth strategi includ labor | market | reform deregul effort revamp servic |
| econom | deliv tangibl result keep current | econom | momentum go fiscal front reform |
| need | momentum go fiscal front reform | need | continu given larg stock public |
| economi | mani respect still incred dynam | economi | also face mani headwind especi |
| also | respect still incred dynam economi | also | face mani headwind especi age |
| growth | headwind especi age structur impedi | growth | asia growth move lower gear |
| growth | age structur impedi growth asia | growth | move lower gear constraint macroeconom |
| polici | move lower gear constraint macroeconom | polici | support growth investor increas discrimin |
| growth | gear constraint macroeconom polici support | growth | investor increas discrimin across countri |
| countri | growth investor increas discrimin across | countri | accord fundament case structur reform |
| need | structur reform becom ever clearer | need | boost product growth therebi reenerg |
| growth | ever clearer need boost product | growth | therebi reenerg growth asia past |
| growth | boost product growth therebi reenerg | growth | asia past month shown reform |
| countri | reform build strong fundament enabl | countri | weather turbul better other time |
| global | progress front conclus despit complex | global | context remain cautious optimist region |
| polici | smooth put place right mix | polici | tackl shortterm challeng support longterm |
| growth | tackl shortterm challeng support longterm | growth | japan import role play help |
| also | invest lend seen year japan | also | contribut faster region growth long |
| growth | japan also contribut faster region | growth | long haul strengthen domest economi |
| economi | growth long haul strengthen domest | economi | would creat new demand opportun |
| also | challeng financi integr west africa | also | happi see repres ecowa countri |
| countri | also happi see repres ecowa | countri | well policymak expert elsewher particip |
| global | place africa prospect within context | global | econom outlook global outlookth world |
| econom | africa prospect within context global | econom | outlook global outlookth world economi |
| global | within context global econom outlook | global | outlookth world economi look healthier |
| economi | econom outlook global outlookth world | economi | look healthier height global financi |
| global | world economi look healthier height | global | financi crisi growth still weak |
| growth | healthier height global financi crisi | growth | still weak driver econom activ |
| econom | crisi growth still weak driver | econom | activ chang new polici challeng |
| polici | driver econom activ chang new | polici | challeng aris spillov may pose |
| global | pose greater concern current forecast | global | growth percent year percent u |
| growth | greater concern current forecast global | growth | percent year percent u seen |
| global | solid privat demand good news | global | economi look forward essenti reduc |
| economi | privat demand good news global | economi | look forward essenti reduc uncertainti |
| polici | uncertainti surround conduct u fiscal | polici | rais debt limit durabl manner |
| also | rais debt limit durabl manner | also | continu encourag u approv budget |
| polici | rebound could lose steam fiscal | polici | undergo necessari tighten meanwhil europ |
| global | final emerg downturn grow reverber | global | financi crisi continu europ still |
| polici | continu europ still address import | polici | issu includ strengthen demand deal |
| growth | fiscal architectur build basi sustain | growth | european financi stabilityth issu europ |
| economi | stabilityth issu europ face advanc | economi | grappl relev seminar financi sector |
| global | financi sector problem lay root | global | financi crisi restor sound sector |
| economi | europ futur stabil health world | economi | lesson financi sector stabil effect |
| market | part today discuss know emerg | market | major focus attent china economi |
| economi | market major focus attent china | economi | help drive global growth crisi |
| global | attent china economi help drive | global | growth crisi come cyclic peak |
| growth | china economi help drive global | growth | crisi come cyclic peak also |
| also | growth crisi come cyclic peak | also | face structur issu economi unlik |
| economi | peak also face structur issu | economi | unlik return rate growth world |
| growth | issu economi unlik return rate | growth | world becom accustom last decad |
| global | outlook subsaharan africa brighter despit | global | volatil region expect enjoy continu |
| growth | region expect enjoy continu robust | growth | sever import driver play notabl |
| financ | foreign direct invest rise along | financ | opportun cours countri better other |
| countri | rise along financ opportun cours | countri | better other extern develop pose |
| polici | develop pose risk certain present | polici | challeng includ slower demand emerg |
| market | challeng includ slower demand emerg | market | less favor commod price higher |
| financ | less favor commod price higher | financ | cost prospect continu growth africa |
| growth | higher financ cost prospect continu | growth | africa good africa progress clear |
| growth | financi integr foster privat sector | growth | help meet infrastructur need risk |
| need | sector growth help meet infrastructur | need | risk signific financi institut increas |
| countri | increas size oper across industri | countri | effect supervis becom import difficult |
| growth | center bank driven most strong | growth | domest deposit base bank credit |
| countri | deposit base bank credit increas | countri | remain larg short term alon |
| financ | adequ fuel develop mobil longterm | financ | sourc import go forward support |
| market | support region ambiti goal capit | market | help meet need still play |
| need | goal capit market help meet | need | still play relat limit role |
| market | role sourc fund region debt | market | relat small domin govern secur |
| market | corpor bond secur trade secondari | market | virtual nonexist meanwhil region stock |
| market | virtual nonexist meanwhil region stock | market | waemu market region relat low |
| market | meanwhil region stock market waemu | market | region relat low capit small |
| market | list compani potenti expans capit | market | particular debt market could offer |
| market | expans capit market particular debt | market | could offer addit sourc financ |
| financ | market could offer addit sourc | financ | develop intern activ foreign bank |
| countri | continu play larg role individu | countri | rapid rise african bank crossbord |
| polici | aris rapid expans bank moreov | polici | maker forg stronger domest region |
| also | bank crossbord oper lend ll | also | touch rise financi hub lesson |
| also | regulatori framework supervisori practic ll | also | examin challeng financi stabil crossbord |
| financ | upon third session focus infrastructur | financ | topic crucial import throughout africa |
| polici | throughout africa address issu perspect | polici | maker develop investor financi look |
| financ | project step taken develop custom | financ | solut finish would like mention |
| market | work issu support develop debt | market | close let take moment look |
| also | take moment look futur event | also | address today import topic imf |
| also | much look forward discuss today | also | look forward speak mani individu |
| global | meet spoke great transit underway | global | economi chang pattern growth chang |
| economi | spoke great transit underway global | economi | chang pattern growth chang dynam |
| growth | underway global economi chang pattern | growth | chang dynam monetari polici chang |
| polici | pattern growth chang dynam monetari | polici | chang take place financi sector |
| economi | place financi sector well real | economi | transit us time even grappl |
| global | look toward major chang transform | global | economi next generat want take |
| economi | toward major chang transform global | economi | next generat want take opportun |
| countri | today ask might mean member | countri | might mean fund institut constitut |
| need | generat rate reach chang great | need | member chang must fund imf |
| global | sinc fund mandat endur promot | global | financi stabil help build global |
| global | global financi stabil help build | global | economi member peopl prosper time |
| economi | financi stabil help build global | economi | member peopl prosper time requir |
| countri | chang africa independ mani develop | countri | came new wave member new |
| need | new wave member new wave | need | latin america fund respond major |
| market | anoth set new member transform | market | economi amidst bretton wood exchang |
| economi | set new member transform market | economi | amidst bretton wood exchang rate |
| countri | help eas burden adjust member | countri | need far whole stori think |
| need | eas burden adjust member countri | need | far whole stori think imf |
| global | stori think imf earli call | global | fiscal stimulus sit call stronger |
| global | fiscal stimulus sit call stronger | global | firewal includ increas fund resourc |
| global | pace mix fiscal adjust right | global | growth dynam chang critic continu |
| growth | mix fiscal adjust right global | growth | dynam chang critic continu custom |
| countri | chang critic continu custom advic | countri | need alway sensit impact growth |
| need | critic continu custom advic countri | need | alway sensit impact growth peopl |
| growth | countri need alway sensit impact | growth | peopl today mani consid navig |
| polici | navig eventu exit unconvent monetari | polici | advanc economi offer neutral tailor |
| economi | exit unconvent monetari polici advanc | economi | offer neutral tailor view challeng |
| growth | crisi leav behind legaci littl | growth | job work focus reform promot |
| growth | focus reform promot competit creat | growth | job reson cours first articl |
| global | mandat anoth defin featur crisi | global | scope fund respond global yes |
| global | crisi global scope fund respond | global | yes europ receiv lot attent |
| countri | five year made new commit | countri | around globe support deliv new |
| econom | middl east member face histor | econom | polit challeng crisi also led |
| also | histor econom polit challeng crisi | also | led us rethink macroeconom analysi |
| polici | us rethink macroeconom analysi adapt | polici | advic reflect oper increas interconnect |
| polici | place even greater emphasi spillov | polici | one countri affect other even |
| countri | greater emphasi spillov polici one | countri | affect other even assess feedback |
| economi | call cluster analysi look group | economi | strong interlinkag common concern complet |
| countri | interlinkag common concern complet group | countri | southern africa also sever nordic |
| also | complet group countri southern africa | also | sever nordic countri new idea |
| countri | southern africa also sever nordic | countri | new idea approach infus core |
| countri | carri worldclass staff see visit | countri | technic discuss articl iv discuss |
| also | superb peopl work fund let | also | express deep gratitud execut board |
| economi | next decad share emerg develop | economi | global gdp increas half near |
| global | decad share emerg develop economi | global | gdp increas half near twothird |
| countri | per capita incom converg across | countri | rapid expand middl class nation |
| econom | nation stage set world year | econom | power far less concentr advanc |
| economi | power far less concentr advanc | economi | vast dispers across region mean |
| also | build represent cours share chair | also | engag member trust advisor analysi |
| economi | increas multipl ten today world | economi | simpli connect hyperconnect propel financi |
| countri | world yet reach emerg develop | countri | grow converg financi interconnect becom |
| growth | deeper complex deeper integr fuel | growth | without risk experi teach us |
| countri | thorough time analysi interlinkag spillov | countri | clearer earli warn also mean |
| also | spillov countri clearer earli warn | also | mean strengthen support crisi resolut |
| need | crisi resolut adapt lend toolkit | need | strengthen cooper includ region financi |
| also | ensur burden adjust share fair | also | rais question ensur fund enough |
| also | member deal futur crise would | also | like take opportun thank member |
| countri | like take opportun thank member | countri | agre transfer gold profit help |
| financ | transfer gold profit help meet | financ | need lowincom countri year ahead |
| need | gold profit help meet financ | need | lowincom countri year ahead capac |
| countri | help meet financ need lowincom | countri | year ahead capac prevent resolv |
| econom | well awar fund sharpen focus | econom | effect let mention demograph shift |
| growth | let mention demograph shift affect | growth | stabil billion peopl world today |
| countri | world today percent emerg develop | countri | one billion peopl year older |
| also | pension public spend incom distribut | also | affect growth stabil today inequ |
| growth | spend incom distribut also affect | growth | stabil today inequ stand level |
| countri | seen sinc fund creat mani | countri | led grow frustrat breakdown social |
| growth | peopl left environment sustain affect | growth | stabil averag temperatur rise risk |
| countri | output food water insecur mani | countri | particular poorest exacerb alreadi fragil |
| countri | issu threaten macroeconom health member | countri | case must part work number |
| need | effect bank other draw expertis | need | offer think instanc fiscal advic |
| global | carbon price anoth help focus | global | attent specif issu take exampl |
| global | recent research energi subsidi show | global | save almost trillion could use |
| growth | demonstr linkag incom equal sustain | growth | week ago new imf studi |
| market | show engag women fulli labor | market | could increas per capita incom |
| econom | percent case margin percent could | econom | gamechang given today intern day |
| countri | born see imf partnership member | countri | partnership present futur thank |
| also | kind invit behalf imf let | also | express appreci everyon georg washington |
| global | today rememb generat short inherit | global | economi look face know safe |
| economi | rememb generat short inherit global | economi | look face know safe hand |
| also | man great might appli live | also | appli global financi crisi realli |
| global | might appli live also appli | global | financi crisi realli stori transit |
| global | epic scale five year ago | global | economi avoid second great depress |
| economi | scale five year ago global | economi | avoid second great depress five |
| econom | two particular stand transit pattern | econom | growth transit toward differ kind |
| growth | particular stand transit pattern econom | growth | transit toward differ kind financi |
| econom | sector imf familiar ebb flow | econom | cycl shift recess recoveri experi |
| also | play rest decad longer differ | also | requir activ nation polici manag |
| polici | differ also requir activ nation | polici | manag also activ intern polici |
| also | requir activ nation polici manag | also | activ intern polici collabor main |
| polici | polici manag also activ intern | polici | collabor main messag today new |
| global | collabor main messag today new | global | transit need new global agenda |
| need | messag today new global transit | need | new global agenda cours precis |
| global | new global transit need new | global | agenda cours precis imf global |
| global | global agenda cours precis imf | global | membership countri uniqu wellplac help |
| countri | cours precis imf global membership | countri | uniqu wellplac help provid platform |
| global | uniqu wellplac help provid platform | global | cooper well tool support econom |
| econom | global cooper well tool support | econom | analysi financi resourc technic expertis |
| polici | expertis one thing sure right | polici | transit manag cours derail wrong |
| polici | transit manag cours derail wrong | polici | today focus two key transit |
| econom | two key transit transit pattern | econom | growth advanc economieslet start transit |
| growth | key transit transit pattern econom | growth | advanc economieslet start transit advanc |
| economi | advanc economieslet start transit advanc | economi | day time imf releas latest |
| econom | day time imf releas latest | econom | forecast overal global outlook remain |
| global | releas latest econom forecast overal | global | outlook remain subdu mani advanc |
| economi | outlook remain subdu mani advanc | economi | howev final see sign hope |
| growth | howev final see sign hope | growth | look financi stabil return fiscal |
| growth | privat sector engin hum yet | growth | year still low percent due |
| growth | fiscal adjust eas next year | growth | percentag point higher euro area |
| growth | region came air last spring | growth | back posit territori next year |
| countri | unemploy percent still far high | countri | one four peopl cannot find |
| need | integr even recogn much still | need | done japan go transit seek |
| polici | deflat stagnat govern aggress stimulus | polici | seem work boost gdp percent |
| polici | yet japanes effort complet either | polici | need manag transit ensur success |
| need | japanes effort complet either polici | need | manag transit ensur success let |
| polici | ensur success let start monetari | polici | believ rescu global economi abyss |
| global | start monetari polici believ rescu | global | economi abyss put back road |
| economi | monetari polici believ rescu global | economi | abyss put back road recoveri |
| polici | road recoveri central banker push | polici | limit beyond limit terra nova |
| polici | beyond limit terra nova unconvent | polici | clear differ role play region |
| polici | region peopl think u monetari | polici | reach turn point exit unconvent |
| need | unconvent measur begin soon turn | need | manag care normal monetari polici |
| polici | need manag care normal monetari | polici | affect mani market peopl across |
| market | normal monetari polici affect mani | market | peopl across globe u special |
| global | conduct dialogu other transit part | global | polici landscap time beyond unit |
| polici | dialogu other transit part global | polici | landscap time beyond unit state |
| polici | time beyond unit state monetari | polici | might yet call upon strengthen |
| polici | zone japan clear region monetari | polici | bought time space key use |
| countri | els mean differ thing differ | countri | advanc economi need move broad |
| economi | differ thing differ countri advanc | economi | need move broad polici front |
| need | thing differ countri advanc economi | need | move broad polici front differ |
| polici | advanc economi need move broad | polici | front differ emphas financi euro |
| need | fiscal said mani time u | need | slow hurri mean less fiscal |
| need | measur hurt recoveri time u | need | make debt sustain road contain |
| growth | make debt sustain road contain | growth | entitl spend rais revenu midst |
| economi | wors could serious damag u | economi | entir global economi missioncrit resolv |
| global | serious damag u economi entir | global | economi missioncrit resolv soon possibl |
| economi | damag u economi entir global | economi | missioncrit resolv soon possibl japan |
| also | missioncrit resolv soon possibl japan | also | need credibl plan bring debt |
| need | resolv soon possibl japan also | need | credibl plan bring debt approach |
| polici | entitl reform next one without | polici | fundament gain made far could |
| polici | complement structur reform make sure | polici | boost demand support polici boost |
| polici | sure polici boost demand support | polici | boost suppli know pay matter |
| growth | suppli know pay matter term | growth | job euro area imf estim |
| market | comprehens coordin reform product labor | market | could boost gdp  ¾ |
| economi | capita gdp percent rememb group | economi | account percent world gdp happen |
| polici | engag intern communiti import nation | polici | alon cannot ii emerg market |
| market | polici alon cannot ii emerg | market | develop countrieslet turn emerg market |
| market | market develop countrieslet turn emerg | market | develop countri emerg marketstoday emerg |
| countri | countrieslet turn emerg market develop | countri | emerg marketstoday emerg market much |
| market | develop countri emerg marketstoday emerg | market | much stronger past come long |
| global | five year drove recoveri kept | global | economi afloat account threequart total |
| economi | year drove recoveri kept global | economi | afloat account threequart total growth |
| growth | economi afloat account threequart total | growth | ultim goal transit clear live |
| economi | clear live standard closer advanc | economi | get face new obstacl way |
| growth | new obstacl way momentum slow | growth | Â ½ percentag point lower |
| econom | point lower lot reflect turn | econom | cycl part reflect deeproot structur |
| countri | part reflect deeproot structur impedi | countri | also face challeng extern environ |
| also | reflect deeproot structur impedi countri | also | face challeng extern environ past |
| market | five year capit flood emerg | market | part due loos monetari polici |
| polici | market part due loos monetari | polici | advanc economi bond inflow alon |
| economi | due loos monetari polici advanc | economi | bond inflow alon rose trillion |
| countri | percentag point gdp year recipi | countri | market get jitteri perceiv end |
| market | point gdp year recipi countri | market | get jitteri perceiv end easi |
| market | Â ½ percent major emerg | market | cours countri vulner other mean |
| countri | percent major emerg market cours | countri | vulner other mean polici immedi |
| polici | cours countri vulner other mean | polici | immedi prioriti ride turbul smooth |
| market | liquid provis help deal dysfunct | market | behavior looser monetari polici also |
| polici | dysfunct market behavior looser monetari | polici | also help although less room |
| also | market behavior looser monetari polici | also | help although less room maneuv |
| countri | help although less room maneuv | countri | inflat pressur brazil india indonesia |
| market | space left across mani emerg | market | use fiscal polici given high |
| polici | mani emerg market use fiscal | polici | given high debt deficit countri |
| countri | polici given high debt deficit | countri | also need knock linger barrier |
| also | given high debt deficit countri | also | need knock linger barrier longterm |
| need | high debt deficit countri also | need | knock linger barrier longterm growth |
| growth | need knock linger barrier longterm | growth | push ahead infrastructur invest place |
| market | like india brazil deepen financi | market | open trade regim vein china |
| need | open trade regim vein china | need | keep move growth path base |
| growth | vein china need keep move | growth | path base less credit hit |
| market | strengthen social safeti net emerg | market | transit fast easi countri like |
| countri | emerg market transit fast easi | countri | like spend rest decad adjust |
| need | adjust new realiti part adjust | need | keep cooper among other intern |
| countri | lowincom countriesth hold true lowincom | countri | process profound transit mani case |
| countri | profound transit mani case develop | countri | yesterday pois becom frontier economi |
| economi | countri yesterday pois becom frontier | economi | tomorrow subsaharan africa second dynam |
| global | get ever closer beat heart | global | economi growth rate past sever |
| economi | ever closer beat heart global | economi | growth rate past sever year |
| growth | closer beat heart global economi | growth | rate past sever year around |
| countri | transit howev without risk lowincom | countri | sit advanc countri rock emerg |
| countri | risk lowincom countri sit advanc | countri | rock emerg market hard place |
| market | sit advanc countri rock emerg | market | hard place fragil region mean |
| countri | fragil region mean fragil lowincom | countri | countri need take action enough |
| countri | region mean fragil lowincom countri | countri | need take action enough foreign |
| need | mean fragil lowincom countri countri | need | take action enough foreign fiscal |
| need | necessari includ mobil revenu beyond | need | make growth inclus includ boost |
| growth | mobil revenu beyond need make | growth | inclus includ boost public invest |
| financ | sure access decent healthcar educ | financ | take next decad requir deeper |
| econom | imf arab transit countriesin region | econom | transit deepli entwin social polit |
| econom | home must help keep drumbeat | econom | reform mean break vest interest |
| need | sector releas help creat job | need | also mean bring fiscal deficit |
| also | releas help creat job need | also | mean bring fiscal deficit percent |
| financ | region right pace support extern | financ | lessen hardship face ordinari peopl |
| need | probabl take longest play succeed | need | unwav support intern communiti imf |
| financ | engag partner jordan morocco tunisia | financ | arrang discuss yemen transit financi |
| econom | far talk first big transit | econom | one advanc economi emerg market |
| economi | big transit econom one advanc | economi | emerg market lowincom countri yet |
| market | econom one advanc economi emerg | market | lowincom countri yet said begin |
| countri | advanc economi emerg market lowincom | countri | yet said begin second fundament |
| global | fundament transit take place parallel | global | financi sector old model financi |
| global | institut one whose failur largest | global | fallout hold higher standard regul |
| also | still slow held back complex | also | delay diverg across countri delay |
| countri | complex also delay diverg across | countri | delay real problem key concern |
| global | resolut regim framework agreement unwind | global | systemicallyimport institut market infrastructur order |
| market | agreement unwind global systemicallyimport institut | market | infrastructur order way true deriv |
| market | infrastructur order way true deriv | market | reform lack transpar still huge |
| countri | adequ supervis remain part requir | countri | market speedili implement agre deriv |
| market | supervis remain part requir countri | market | speedili implement agre deriv reform |
| market | system progress adopt principl money | market | fund propos regul secur lend |
| need | valuabl altern bank provid credit | need | oversight diverg problem countri pull |
| countri | credit need oversight diverg problem | countri | pull differ direct fabric rip |
| countri | evid discrep capit requir differ | countri | also taken differ approach busi |
| also | discrep capit requir differ countri | also | taken differ approach busi model |
| global | rule unit state put togeth | global | world headach yet must done |
| global | yet must done noth less | global | financi stabil depend build new |
| also | financi sector job policymak alon | also | respons financi industri know sand |
| econom | unpredict way new rule chang | econom | bank exampl larg bank might |
| financ | might longer busi project infrastructur | financ | mortgag lend geograph footprint might |
| economi | focus true purpos serv real | economi | financ invest innov drive us |
| financ | true purpos serv real economi | financ | invest innov drive us forward |
| countri | accept corespons public good mean | countri | act harmoni new financi framework |
| econom | conclud two major transit discuss | econom | financi intern communiti face common |
| global | common challeng make sure gain | global | prosper increas interconnect world global |
| global | global prosper increas interconnect world | global | financi crisi shaken faith mani |
| financ | demonstr benefit interconnected trade wellregul | financ | equit growth done countri work |
| growth | interconnected trade wellregul financ equit | growth | done countri work togeth sincer |
| countri | wellregul financ equit growth done | countri | work togeth sincer belief mutual |
| countri | exact function imf job help | countri | manag transit help world solv |
| global | cold war world transit new | global | economi st centuri economi centuri |
| economi | war world transit new global | economi | st centuri economi centuri world |
| economi | new global economi st centuri | economi | centuri world cooper need ever |
| need | centuri economi centuri world cooper | need | ever mean imf need help |
| need | cooper need ever mean imf | need | help ever began emerson american |
| global | confer take place import moment | global | economi financi system polici maker |
| economi | take place import moment global | economi | financi system polici maker achiev |
| polici | moment global economi financi system | polici | maker achiev great deal aftermath |
| global | maker achiev great deal aftermath | global | financi crisi acut crisi risk |
| global | time regulatori author strive coordin | global | polici build harmon regulatori structur |
| polici | regulatori author strive coordin global | polici | build harmon regulatori structur help |
| growth | unit state appear move sustain | growth | phase gradual exit unconvent monetari |
| polici | phase gradual exit unconvent monetari | polici | emerg market weather crisi well |
| market | exit unconvent monetari polici emerg | market | weather crisi well although concern |
| global | ahead includ residu legaci risk | global | crisi remain unresolv stem unfinish |
| also | euro area time new challeng | also | begin unfold aris side effect |
| global | five year pass sinc onset | global | financi crisi bank system still |
| countri | relat high among bank core | countri | euro area strike larg bank |
| countri | capit level may strong seem | countri | outsid core euro area bank |
| econom | eas sovereign debt spread weak | econom | growth like constrain earn even |
| growth | sovereign debt spread weak econom | growth | like constrain earn even unfinish |
| economi | cost hinder credit transmiss real | economi | healthi bank need support econom |
| need | transmiss real economi healthi bank | need | support econom recoveri critic repair |
| econom | economi healthi bank need support | econom | recoveri critic repair bank sector |
| need | complet case addit bank capit | need | along adequ provis enhanc overal |
| need | test support adequ capit backstop | need | stateback asset manag compani mechan |
| countri | debt overhang list compani signific | countri | outsid core euro area onefifth |
| countri | outstand analysi suggest corpor leverag | countri | would reduc percent asset medium |
| need | bankcorpor feedback loop euro area | need | disentangl restor market confid ensur |
| market | euro area need disentangl restor | market | confid ensur last recoveri therefor |
| need | confid ensur last recoveri therefor | need | complementari measur pare corpor debt |
| also | larger firm sale foreign asset | also | need equiti swap reduc leverag |
| need | firm sale foreign asset also | need | equiti swap reduc leverag measur |
| polici | payout well loan princip reduct | polici | facilit corpor consolid restructur help |
| global | period monetari eas undoubt stage | global | recoveri monetari polici need stay |
| polici | undoubt stage global recoveri monetari | polici | need stay high accommod meet |
| need | stage global recoveri monetari polici | need | stay high accommod meet macroeconom |
| market | last three year number emerg | market | countri combin low borrow rate |
| countri | three year number emerg market | countri | combin low borrow rate easi |
| financ | borrow rate easi credit bond | financ | relat stagnat equiti issuanc led |
| polici | led resurg corpor leverag macroprudenti | polici | tool employ measur manner guard |
| market | recent challeng macrofinanci stabil emerg | market | economi recent spike market volatil |
| economi | challeng macrofinanci stabil emerg market | economi | recent spike market volatil unveil |
| market | emerg market economi recent spike | market | volatil unveil pocket fragil particular |
| global | suscept shift portfolio flow escal | global | uncertainti shift expect taper quantit |
| market | sharp revers portfolio flow emerg | market | could retest resili emerg market |
| market | market could retest resili emerg | market | financi system macro framework inde |
| market | macro framework inde episod financi | market | turbul second third quarter focus |
| countri | second third quarter focus recent | countri | macroeconom imbal high inflat signific |
| polici | signific current account deficit weaker | polici | posit therefor import countri address |
| countri | weaker polici posit therefor import | countri | address under macroeconom vulner ensur |
| polici | address under macroeconom vulner ensur | polici | buffer adequ cushion risk eman |
| also | risk eman extern headwind would | also | like underlin urgent need reinvigor |
| need | would also like underlin urgent | need | reinvigor global regulatori reform agenda |
| global | like underlin urgent need reinvigor | global | regulatori reform agenda although much |
| global | done improv financi sector regul | global | crossbord nation level reform process |
| also | consid sever key featur final | also | import recogn potenti risk associ |
| growth | recogn potenti risk associ rapid | growth | shadow bank countri increas credit |
| countri | associ rapid growth shadow bank | countri | increas credit intermedi involv entiti |
| econom | altern bank provid credit support | econom | activ global financi crisi shown |
| global | provid credit support econom activ | global | financi crisi shown bubbl burst |
| global | sector risk summar sinc onset | global | financi crisi commend progress achiev |
| growth | robust foundat financi system sustain | growth | withstand shock call need tackl |
| need | sustain growth withstand shock call | need | tackl exist imbal rebuild buffer |
| polici | exist imbal rebuild buffer embrac | polici | chang could strengthen financi sector |
| growth | strengthen financi sector lay foundat | growth | year come thank |
| global | reason agre action must take | global | communiti support global sustain develop |
| global | must take global communiti support | global | sustain develop need st centuri |
| need | communiti support global sustain develop | need | st centuri polici st centuri |
| polici | sustain develop need st centuri | polici | st centuri global economi mean |
| global | st centuri polici st centuri | global | economi mean think creativ cohes |
| economi | centuri polici st centuri global | economi | mean think creativ cohes collabor |
| econom | past planet face tripl challeng | econom | instabl environment damag insuffici equiti |
| econom | tackl togeth three prioriti get | econom | foundat right ii get price |
| economi | right ii get price green | economi | right iii get equiti right |
| econom | equiti right first point get | econom | foundat rightw know without basic |
| global | ago collaps lehman brother sent | global | economi tailspin like seen half |
| economi | collaps lehman brother sent global | economi | tailspin like seen half centuri |
| polici | mean take action across spectrum | polici | use monetari fiscal polici navig |
| polici | spectrum polici use monetari fiscal | polici | navig recoveri reform financi sector |
| growth | reform financi sector break barrier | growth | job creation especi young peopl |
| countri | imf commit agenda togeth member | countri | work implement second point get |
| economi | second point get price green | economi | right absolut need get growth |
| need | price green economi right absolut | need | get growth go even better |
| growth | economi right absolut need get | growth | go even better track past |
| econom | track past know wrong kind | econom | growth hurt environ environment degrad |
| growth | past know wrong kind econom | growth | hurt environ environment degrad hurt |
| economi | hurt environ environment degrad hurt | economi | make mistak poorest countri hit |
| countri | hurt economi make mistak poorest | countri | hit soonest hardest accord friend |
| economi | abl support crop drastic implic | economi | food secur peopl live must |
| need | subsidi enorm scale help peopl | need | least subsidi includ tax subsidi |
| global | trillion whop  ½ percent | global | gdp could use wise take |
| economi | subsidi would good budget good | economi | good planet third final point |
| growth | planet third final point make | growth | equit long economist look growth |
| growth | growth equit long economist look | growth | alon distribut keen awar base |
| growth | balanc distribut incom lead sustain | growth | greater econom stabil key greater |
| econom | incom lead sustain growth greater | econom | stabil key greater inclus econom |
| econom | econom stabil key greater inclus | econom | life share prosper fulfil potenti |
| also | goal end extrem poverti everywher | also | matter urgenc push greater gender |
| global | remark today would like discuss | global | econom situat implic econom outlook |
| econom | today would like discuss global | econom | situat implic econom outlook risk |
| econom | discuss global econom situat implic | econom | outlook risk emerg economi particular |
| economi | implic econom outlook risk emerg | economi | particular would like focus two |
| global | focus two main issu implic | global | emerg economi unwind unconvent monetari |
| economi | main issu implic global emerg | economi | unwind unconvent monetari polici advanc |
| polici | emerg economi unwind unconvent monetari | polici | advanc economi polici emerg economi |
| economi | unwind unconvent monetari polici advanc | economi | polici emerg economi implement ensur |
| polici | unconvent monetari polici advanc economi | polici | emerg economi implement ensur sustain |
| economi | polici advanc economi polici emerg | economi | implement ensur sustain longterm growth |
| growth | economi implement ensur sustain longterm | growth | would like begin discuss chang |
| global | like begin discuss chang dynam | global | recoveri last spring world econom |
| econom | global recoveri last spring world | econom | outlook weo spoke threespe economi |
| economi | econom outlook weo spoke threespe | economi | involv recoveri us rapid growth |
| growth | economi involv recoveri us rapid | growth | emerg market slow growth euro |
| market | recoveri us rapid growth emerg | market | slow growth euro area japan |
| growth | rapid growth emerg market slow | growth | euro area japan dynam relat |
| economi | dynam relat cyclic posit major | economi | chang us outlook remain favor |
| economi | time outlook brighten bit advanc | economi | euro area recess final appear |
| growth | recess final appear abat though | growth | remain subdu japan abenom work |
| economi | subdu japan abenom work far | economi | rebound vigor lose steam next |
| economi | expect tighten hand china emerg | economi | growth slow postcrisi peak due |
| growth | tighten hand china emerg economi | growth | slow postcrisi peak due structur |
| growth | peak due structur cyclic factor | growth | rate emerg economi project remain |
| economi | cyclic factor growth rate emerg | economi | project remain much advanc economi |
| economi | economi project remain much advanc | economi | elev level seen recent year |
| global | level seen recent year notic | global | develop past month tighten global |
| global | global develop past month tighten | global | liquid condit talk taper quantit |
| market | shift expect reinforc vulner emerg | market | led declin equiti bond price |
| countri | sudden bout exchang rate depreci | countri | shift price exchang rate remain |
| countri | led modest tighten financi condit | countri | shift expect taper larg interact |
| economi | vulner lead challeng policymak instanc | economi | high inflat weak extern posit |
| countri | bank tighten liquid condit contrast | countri | like korea buck trend thank |
| global | fundament revers capit inflow overal | global | activ expect strengthen moder impuls |
| economi | moder impuls come main advanc | economi | near term indic point modest |
| growth | near term indic point modest | growth | rebound emerg economi though extern |
| economi | point modest growth rebound emerg | economi | though extern demand strengthen project |
| economi | area continu recov number emerg | economi | particular asia domest demand remain |
| market | domest demand remain solid financi | market | condit remain general favor despit |
| market | favor despit recent tighten labor | market | resili unfortun risk global outlook |
| global | labor market resili unfortun risk | global | outlook remain downsid first among |
| growth | among risk would synchron setback | growth | advanc emerg market economi includ |
| market | synchron setback growth advanc emerg | market | economi includ china continu weak |
| economi | setback growth advanc emerg market | economi | includ china continu weak retrench |
| economi | act import drag apec open | economi | second slow pace structur reform |
| countri | structur reform creat risk mani | countri | japan absenc credibl fiscal structur |
| growth | macroeconom framework may ineffect rais | growth | inflat expect elsewher euro area |
| need | area remain risk given bank | need | repair balanc sheet limit progress |
| market | sheet limit progress reintegr financi | market | without move toward restor bank |
| market | shift sentiment toward european financi | market | could lead stress region would |
| global | could lead stress region would | global | implic us debt ceil need |
| need | global implic us debt ceil | need | rais later year failur reach |
| polici | failur reach agreement nearterm fiscal | polici | would also advers implic global |
| also | agreement nearterm fiscal polici would | also | advers implic global economi third |
| global | polici would also advers implic | global | economi third unwind unconvent monetari |
| economi | would also advers implic global | economi | third unwind unconvent monetari polici |
| polici | economi third unwind unconvent monetari | polici | ump rais risk far ump |
| global | risk far ump help support | global | econom activ financi stabil howev |
| econom | far ump help support global | econom | activ financi stabil howev tradeoff |
| need | unhealthi risktak therefor pros con | need | weigh care calibr pace exit |
| also | weigh care calibr pace exit | also | import think care exit ump |
| polici | mean ump involv divers set | polici | action involv purchas public privat |
| market | well forward guidanc impact financi | market | includ emerg market also need |
| market | impact financi market includ emerg | market | also need taken account therefor |
| also | financi market includ emerg market | also | need taken account therefor import |
| need | market includ emerg market also | need | taken account therefor import communic |
| countri | involv import consider mani apec | countri | particular emerg economi spillov ump |
| economi | mani apec countri particular emerg | economi | spillov ump exit ump undoubt |
| market | price stronger capit flow emerg | market | result financi imbal built larg |
| economi | financi imbal built larg good | economi | sound fundament rise risk contain |
| polici | risk contain prudent macroeconom macroprudenti | polici | ump begin unwound countri ensur |
| countri | macroprudenti polici ump begin unwound | countri | ensur risk remain contain involv |
| economi | continu monitor assess mani apec | economi | vulner also contain limit foreign |
| also | assess mani apec economi vulner | also | contain limit foreign currenc exposur |
| polici | corpor leverag allow increas flexibl | polici | regim flexibl exchang rate import |
| polici | unwind ump right mix macroeconom | polici | depend specif condit economi final |
| economi | macroeconom polici depend specif condit | economi | final countri run signific current |
| countri | depend specif condit economi final | countri | run signific current account deficit |
| polici | taper central bank clear monetari | polici | prioriti readi rais polici rate |
| polici | monetari polici prioriti readi rais | polici | rate balanc payment pressur intensifi |
| growth | opportun talk imf perspect caribbean | growth | challeng tell work support small |
| growth | world bank sinc much experi | growth | challeng come bank long advoc |
| growth | chang agenda topic forum rais | growth | achiev sustain challeng articul countri |
| countri | growth achiev sustain challeng articul | countri | small larg world growth recov |
| growth | articul countri small larg world | growth | recov wake global crisi remain |
| global | larg world growth recov wake | global | crisi remain low gear like |
| countri | low gear like caribbean advanc | countri | burden high debt also recogn |
| also | advanc countri burden high debt | also | recogn import growth allow recov |
| growth | high debt also recogn import | growth | allow recov financi stabil want |
| growth | alon world seek surer path | growth | caribbean share problem advanc economi |
| economi | growth caribbean share problem advanc | economi | last year forum trinidad reaffirm |
| econom | reaffirm messag small state addit | econom | challeng due diseconomi scale vulner |
| growth | fund priorit work generat inclus | growth | understand better problem small state |
| growth | first start take stock caribbean | growth | compar rest world good news |
| growth | last year despit diseconomi scale | growth | small state kept pace larg |
| countri | small state kept pace larg | countri | caribbean per capita incom growth |
| growth | countri caribbean per capita incom | growth | instanc doubl larger latin american |
| econom | news trend chang past year | econom | growth social indic keep pace |
| growth | trend chang past year econom | growth | social indic keep pace rest |
| economi | keep pace rest world small | economi | experienc signific volatil particular microst |
| countri | time volatil larger latin american | countri | also abund clear small state |
| also | volatil larger latin american countri | also | abund clear small state particular |
| econom | everi two three year signific | econom | financi burden absorb addit challeng |
| growth | rest world protract weak rate | growth | high borrow level mani year |
| countri | twice median larger latin american | countri | limit fiscal flexibl discourag privat |
| growth | research found nonlinear negat relat | growth | debt small state moreov relat |
| countri | relat high incom level caribbean | countri | mean countri elig concession financ |
| countri | incom level caribbean countri mean | countri | elig concession financ intern debt |
| financ | countri mean countri elig concession | financ | intern debt relief recent analysi |
| also | intern debt relief recent analysi | also | point competit issu labor cost |
| also | hamper credit avail much region | also | grappl financi system weak stronger |
| need | system weak stronger supervis regul | need | handl structur weak indigen bank |
| also | handl structur weak indigen bank | also | ensur insur nonbank financi institut |
| growth | broader agenda growthth imf work | growth | year confirm valid longstand messag |
| growth | confirm valid longstand messag prerequisit | growth | let propos two major theme |
| polici | major theme first messag macroeconom | polici | matter long global crisi seen |
| global | messag macroeconom polici matter long | global | crisi seen sound macro fundament |
| countri | extern shock sustain confid invest | countri | fare better rebound much faster |
| countri | rebound much faster thirteen fastestgrow | countri | world identifi spenc commiss growth |
| growth | countri world identifi spenc commiss | growth | develop character macroeconom stabil high |
| market | high save invest rate open | market | alloc resourc commit credibl capabl |
| countri | specif heavili indebt state touristdepend | countri | caribbean second broad messag may |
| growth | messag may summar take rais | growth | growth essenti address fiscal imbal |
| growth | may summar take rais growth | growth | essenti address fiscal imbal overal |
| growth | level must lower achiev without | growth | borrow colleagu lipton last growth |
| growth | growth borrow colleagu lipton last | growth | without sustain fiscal polici sustain |
| polici | last growth without sustain fiscal | polici | sustain fiscal adjust without growth |
| growth | polici sustain fiscal adjust without | growth | right forecast growth tourismbas caribbean |
| growth | adjust without growth right forecast | growth | tourismbas caribbean percent low improv |
| need | investor confid would say caribbean | need | cultur shift reduc relianc state |
| polici | clear advantag could exploit support | polici | among obvious proxim key market |
| market | polici among obvious proxim key | market | educ workforc much region continu |
| growth | compar asia imf studi found | growth | higher small state smaller govern |
| countri | state smaller govern lower debt | countri | take step right direct barbado |
| growth | implement develop plan support sustain | growth | sister ifi given interest present |
| countri | present issu yesterday let note | countri | prepar solid develop plan next |
| countri | problem would sure high payoff | countri | could lower cost name wage |
| financ | electr energi cost trade protect | financ | cost despit document disadvantag small |
| economi | ventur infrastructur project could provid | economi | scale reduc duplic increas market |
| market | economi scale reduc duplic increas | market | size spread cost public servic |
| econom | state emphas two key handicap | econom | perform diseconomi scale vulner extern |
| need | program design meet small state | need | continu capac build technic assist |
| polici | prepar guidanc note staff ensur | polici | advic surveil tailor need small |
| need | ensur polici advic surveil tailor | need | small state moreov technic assist |
| growth | caribbean go forward given central | growth | sustain ensur program design meet |
| need | program design meet small state | need | must translat focus growth program |
| growth | state need must translat focus | growth | program straightforward acknowledg henc propos |
| growth | state fundsupport program includ explicit | growth | agenda obvious content section depend |
| financ | work small state access concession | financ | concern number countri region separ |
| countri | access concession financ concern number | countri | region separ review prgt elig |
| growth | micro state seen particular slow | growth | high econom volatil led emigr |
| econom | seen particular slow growth high | econom | volatil led emigr larg expatri |
| financ | imf year extend elig concession | financ | three micro state pacif rais |
| financ | otherwis graduat hand board conclud | financ | toolkit current meet need small |
| need | conclud financ toolkit current meet | need | small state evidenc use various |
| econom | success confer agenda depend economist | econom | strength nation selfreli quot book |
| econom | f schumach call small beauti | econom | peopl matter econom develop someth |
| econom | small beauti econom peopl matter | econom | develop someth much wider deeper |
| econom | develop someth much wider deeper | econom | let alon econometr root lie |
| econom | alon econometr root lie outsid | econom | sphere educ organ disciplin beyond |
| growth | imf continu work close region | growth | sustain help financ polici advic |
| financ | close region growth sustain help | financ | polici advic technic train ultim |
| polici | region growth sustain help financ | polici | advic technic train ultim region |
| econom | advic technic train ultim region | econom | destini rest hand |
| countri | similar imf flag repres member | countri | poignant symbol respons institut member |
| econom | set share valu commit expand | econom | opportun belief human potenti desir |
| growth | privat enterpris fulfil potenti engin | growth | prosper valu opportun engag world |
| economi | world busi finger puls real | economi | great extent effort growth job |
| growth | real economi great extent effort | growth | job creat might surpris learn |
| global | leader competit servic industri go | global | interplay global economi u economi |
| global | servic industri go global interplay | global | economi u economi would like |
| economi | industri go global interplay global | economi | u economi would like focus |
| economi | global interplay global economi u | economi | would like focus today world |
| econom | like focus today world increas | econom | interconnect challeng face unit state |
| need | group policymak other find solut | need | secur last balanc wide share |
| global | would like focus three issu | global | economi todayi recent return g |
| economi | like focus three issu global | economi | todayi recent return g summit |
| economi | strong differ view advanc emerg | economi | gradual withdraw taper unconvent monetari |
| polici | gradual withdraw taper unconvent monetari | polici | u potenti spillov effect nation |
| countri | potenti spillov effect nation instead | countri | construct discuss g member recogn |
| need | construct discuss g member recogn | need | ensur exit except monetari support |
| also | support come order clear communic | also | clear recognit emerg market economi |
| market | communic also clear recognit emerg | market | economi part need address domest |
| economi | also clear recognit emerg market | economi | part need address domest challeng |
| need | recognit emerg market economi part | need | address domest challeng manag spillov |
| also | domest challeng manag spillov effect | also | opportun st petersburg meet busi |
| growth | work togeth secur sustain inclus | growth | summit took place context challeng |
| global | took place context challeng chang | global | econom environ imf releas updat |
| econom | place context challeng chang global | econom | environ imf releas updat forecast |
| global | let say see sign recoveri | global | growth remain subdu howev stori |
| growth | say see sign recoveri global | growth | remain subdu howev stori complex |
| economi | remain subdu howev stori complex | economi | move differ speed also know |
| also | complex economi move differ speed | also | know fruit growth far share |
| growth | differ speed also know fruit | growth | far share wide true u |
| countri | share wide true u mani | countri | certain advanc economi better place |
| economi | u mani countri certain advanc | economi | better place six month ago |
| growth | place six month ago see | growth | pick unit state point come |
| also | time long time euro area | also | begin grow although still much |
| also | done japan reform effort ongo | also | better thank aggress polici support |
| polici | ongo also better thank aggress | polici | support emerg market countri side |
| market | thank aggress polici support emerg | market | countri side stori larg part |
| countri | aggress polici support emerg market | countri | side stori larg part help |
| global | stori larg part help keep | global | economi afloat crisi still dynam |
| economi | larg part help keep global | economi | afloat crisi still dynam momentum |
| growth | may shift toward balanc sustain | growth | other reflect need address imbal |
| need | balanc sustain growth other reflect | need | address imbal made vulner recent |
| market | address imbal made vulner recent | market | turbul talk global interconnect spillov |
| global | vulner recent market turbul talk | global | interconnect spillov certain came appreci |
| global | increas fivefold trade grown import | global | product world export relat output |
| also | great recess recov somewhat sinc | also | rapid acceler financi integr time |
| global | acceler financi integr time crisi | global | capit flow tripl level imf |
| countri | recent spillov analysi happen one | countri | affect other reinforc import interconnected |
| economi | suggest exampl world five major | economi | work togeth adopt rigor comprehens |
| polici | adopt rigor comprehens compat set | polici | would increas global gdp percent |
| global | compat set polici would increas | global | gdp percent longer run larg |
| also | matter increas unit state convers | also | true happen matter increas global |
| global | also true happen matter increas | global | economi ii role unit state |
| economi | true happen matter increas global | economi | ii role unit state global |
| global | economi ii role unit state | global | economythi bring second main theme |
| growth | good news world admit u | growth | modest year would want still |
| economi | percentag point inde fundament u | economi | improv gradual household better shape |
| market | hous price strong perform stock | market | hous sector look brighter ampl |
| growth | sector yet prove primari engin | growth | job creation main reason weak |
| growth | job creation main reason weak | growth | year larg ongo fiscal adjust |
| econom | short job creation key ingredi | econom | recoveri domest global latest u |
| global | key ingredi econom recoveri domest | global | latest u job data present |
| growth | issu job remain paramount job | growth | increas import compon imf polici |
| polici | growth increas import compon imf | polici | advic know much mind chamber |
| also | key role play time policymak | also | import respons help shape environ |
| economi | policymak point recent assess u | economi | juli financi sector reform cours |
| need | cours sole respons unit state | need | tackl mani countri region ideal |
| countri | unit state need tackl mani | countri | region ideal coordin consist way |
| global | way ensur healthi function entir | global | financi system think instanc resolut |
| global | financi institut bring back point | global | connect unit state play uniqu |
| global | unit state play uniqu role | global | economi think instanc global trade |
| economi | state play uniqu role global | economi | think instanc global trade u |
| global | role global economi think instanc | global | trade u account percent u |
| also | trade u account percent u | also | repres percent global manufactur valuead |
| global | percent u also repres percent | global | manufactur valuead know recogn potenti |
| market | know recogn potenti even bigger | market | tom other chamber often refer |
| global | custom live outsid u america | global | financi tie even deeper foreign |
| countri | new realiti across sector across | countri | across world tension travel across |
| also | recoveri yet despit risk know | also | deepli awar much gain engag |
| countri | captur said favor help prosper | countri | prosper trade becom valuabl true |
| economi | today interconnect world strong u | economi | strong global economi two side |
| global | world strong u economi strong | global | economi two side coin iii |
| economi | strong u economi strong global | economi | two side coin iii role |
| global | bring final point role imf | global | economi effect imf import global |
| economi | final point role imf global | economi | effect imf import global membership |
| global | global economi effect imf import | global | membership unit state earlier spoke |
| global | war two ground principl good | global | citizenship countri work togeth serv |
| countri | ground principl good global citizenship | countri | work togeth serv common interest |
| global | harri dexter white plan vision | global | econom club countri could cooper |
| econom | dexter white plan vision global | econom | club countri could cooper clear |
| countri | plan vision global econom club | countri | could cooper clear object global |
| global | countri could cooper clear object | global | econom financi stabil like credit |
| econom | could cooper clear object global | econom | financi stabil like credit union |
| countri | credit union world imf member | countri | pool resourc provid lifelin member |
| need | pool resourc provid lifelin member | need | fact first countri draw imf |
| countri | lifelin member need fact first | countri | draw imf assist home countri |
| countri | countri draw imf assist home | countri | franc coupl decad later imf |
| countri | later imf help newli independ | countri | decolon berlin wall fell fund |
| economi | eastern europ effort transform centrallyplan | economi | market economi imf help member |
| market | europ effort transform centrallyplan economi | market | economi imf help member overcom |
| economi | effort transform centrallyplan economi market | economi | imf help member overcom econom |
| econom | economi imf help member overcom | econom | crise latin america asia recent |
| economi | seem far remov happen busi | economi | real implic polici advic exampl |
| polici | happen busi economi real implic | polici | advic exampl includ core area |
| countri | reduc possibl negat fallout u | countri | need member countri chang time |
| need | possibl negat fallout u countri | need | member countri chang time imf |
| countri | fallout u countri need member | countri | chang time imf refin repurpos |
| countri | increas financi support billion loan | countri | europ also mani part world |
| also | support billion loan countri europ | also | mani part world includ africa |
| also | world includ africa lowincom nation | also | introduc flexibl type support act |
| countri | act insur crisi prevent help | countri | like colombia mexico poland imf |
| global | imf given much greater emphasi | global | interconnect analysi particular econom spillov |
| econom | emphasi global interconnect analysi particular | econom | spillov countri also critic import |
| countri | interconnect analysi particular econom spillov | countri | also critic import financi sector |
| also | analysi particular econom spillov countri | also | critic import financi sector effect |
| global | represent better reflect chang dynam | global | economi quota reform need support |
| economi | better reflect chang dynam global | economi | quota reform need support member |
| need | dynam global economi quota reform | need | support member countri includ unit |
| countri | quota reform need support member | countri | includ unit state journey togetherwhat |
| global | year work togeth mutual goal | global | stabil share prosper chamber play |
| growth | journey focus trade open job | growth | essenti help u help world |
| growth | har natur resourc wealth inclus | growth | econom develop let start thank |
| econom | natur resourc wealth inclus growth | econom | develop let start thank honor |
| financ | minist emilia pire staff ministri | financ | host import event work imf |
| also | work imf make success would | also | like thank confer cohost friend |
| growth | struck author deep commit foster | growth | develop manner sustain inclus outlin |
| also | outlin comprehens strateg develop plan | also | impress focus put place best |
| countri | amongst natur resourc rich develop | countri | petroleum fund rank number five |
| global | five sovereign wealth fund assess | global | would like congratul author especi |
| also | timores author especi minist pire | also | taken lead g group repres |
| countri | resourc produc glad see mani | countri | g repres imf support g |
| countri | support g central aim increas | countri | ownership polici special focus conflict |
| polici | central aim increas countri ownership | polici | special focus conflict resolut build |
| growth | state institut prerequisit inclus sustain | growth | confer brought togeth divers set |
| countri | societi develop partner wide rang | countri | includ asia africa caribbean middl |
| countri | middl east common featur amongst | countri | repres today extract natur resourc |
| economi | gas miner play larg role | economi | despit financi crisi slow econom |
| econom | economi despit financi crisi slow | econom | growth affect advanc economi last |
| growth | despit financi crisi slow econom | growth | affect advanc economi last sever |
| economi | slow econom growth affect advanc | economi | last sever year high success |
| countri | one mani natur resourc rich | countri | benefit enorm buoyant commod price |
| market | price link rise china emerg | market | greater integr global trade financi |
| global | china emerg market greater integr | global | trade financi network along implement |
| polici | along implement coher mediumterm macroeconom | polici | framework structur reform attent strengthen |
| econom | structur reform attent strengthen govern | econom | social institut allow mani countri |
| countri | econom social institut allow mani | countri | grow faster previous decad outperform |
| countri | decad outperform non resourc rich | countri | strong growth begin allow live |
| growth | non resourc rich countri strong | growth | begin allow live standard rise |
| countri | confer focus key challeng face | countri | ensur resourc wealth contribut sustain |
| growth | wealth contribut sustain inclus fashion | growth | higher live standard mind deliber |
| econom | area macrofisc issu way promot | econom | diversif aim discuss two broad |
| countri | approach look best practic plus | countri | experi deliv practition encourag question |
| polici | encourag question interact dialogu session | polici | round tabl thursday also includ |
| also | session polici round tabl thursday | also | includ minist pire dr pasha |
| countri | knowledg identifi best practic encourag | countri | author make full use special |
| countri | imf help natur resourc rich | countri | sum look forward two day |
| econom | today support import confer kenya | econom | gain past year impress particular |
| global | year impress particular come context | global | weak uncertainti much look forward |
| also | great deal learn topic agenda | also | great deal relev africa kenya |
| growth | challeng ahead region experienc burst | growth | optim today confer relev new |
| global | first brief look immedi outlook | global | growth second subsaharan africa stand |
| growth | brief look immedi outlook global | growth | second subsaharan africa stand current |
| countri | take note dynam kenya one | countri | africa recent progress evid opportun |
| econom | africa recent progress evid opportun | econom | transform growth manifest cours much |
| growth | progress evid opportun econom transform | growth | manifest cours much remain done |
| polici | automat issu therefor defin implement | polici | enabl kenya seiz opportun global |
| global | polici enabl kenya seiz opportun | global | outlookon global front recoveri underway |
| global | kenya seiz opportun global outlookon | global | front recoveri underway recoveri remain |
| economi | chang recent indic show advanc | economi | begun gather momentum particular unit |
| growth | govern taken import step stimul | growth | europ emerg deep recess recoveri |
| need | recess recoveri sustain european policymak | need | continu reform effort level eurozon |
| countri | reform effort level eurozon individu | countri | time emerg market economi slow |
| market | eurozon individu countri time emerg | market | economi slow sever year led |
| economi | individu countri time emerg market | economi | slow sever year led global |
| global | economi slow sever year led | global | growth someth know crucial import |
| growth | slow sever year led global | growth | someth know crucial import kenya |
| market | feder reserv heighten volatil financi | market | tighten financ condit emerg market |
| financ | heighten volatil financi market tighten | financ | condit emerg market economi outstand |
| market | market tighten financ condit emerg | market | economi outstand domest reform becom |
| economi | tighten financ condit emerg market | economi | outstand domest reform becom press |
| economi | take comfort recent develop advanc | economi | must remain fulli awar downsid |
| countri | plan g stress import cooper | countri | address challeng promot global growth |
| global | cooper countri address challeng promot | global | growth job financi stabil action |
| growth | countri address challeng promot global | growth | job financi stabil action plan |
| need | financi stabil action plan recogn | need | fiscal consolid reflect econom condit |
| econom | recogn need fiscal consolid reflect | econom | condit need push forward financi |
| need | fiscal consolid reflect econom condit | need | push forward financi oversight regul |
| growth | import comprehens structur reform support | growth | relev subsaharan africa becom increas |
| global | subsaharan africa becom increas integr | global | economi contin riseeconom perform subsaharan |
| economi | africa becom increas integr global | economi | contin riseeconom perform subsaharan africa |
| global | strong recent year despit advers | global | environ region prove remark resili |
| global | environ region prove remark resili | global | crisi mani countri experienc sustain |
| countri | remark resili global crisi mani | countri | experienc sustain increas percapita incom |
| need | reduc poverti let clear gain | need | sustain extend mani countri within |
| countri | gain need sustain extend mani | countri | within countri growth need wide |
| countri | sustain extend mani countri within | countri | growth need wide share help |
| growth | extend mani countri within countri | growth | need wide share help address |
| need | mani countri within countri growth | need | wide share help address immens |
| econom | young grow popul complac africa | econom | success poverti remain unaccept high |
| econom | goal remain insuffici nevertheless say | econom | stagnat character final decad th |
| econom | past let stay africa strong | econom | perform reflect mani polit social |
| econom | perform reflect mani polit social | econom | chang past two decad result |
| economi | commod export fact mani fastgrow | economi | natur resourc export kenya one |
| countri | cold war region conflict flare | countri | democraci anoth major chang concern |
| econom | anoth major chang concern qualiti | econom | polici mani govern given greater |
| polici | major chang concern qualiti econom | polici | mani govern given greater role |
| market | mani govern given greater role | market | forc improv macroeconom stabil prudent |
| polici | improv macroeconom stabil prudent monetari | polici | reduc inflat built foreign reserv |
| countri | lower public debt great help | countri | deal extern domest shock recent |
| econom | recent year well know kenya | econom | growth spread deeper deeper root |
| growth | year well know kenya econom | growth | spread deeper deeper root inform |
| econom | root inform technolog rapid transform | econom | landscap bridg distanc africa global |
| global | econom landscap bridg distanc africa | global | economi provid financi servic million |
| economi | landscap bridg distanc africa global | economi | provid financi servic million never |
| growth | invest turn domest demand engin | growth | mani countri foreign invest start |
| countri | domest demand engin growth mani | countri | foreign invest start flow respons |
| econom | start flow respons higher return | econom | activ improv busi climat time |
| countri | activ improv busi climat time | countri | diversifi econom relat african trade |
| econom | busi climat time countri diversifi | econom | relat african trade among nontradit |
| countri | asia latin america particip speaker | countri | confer testimoni chang expect robust |
| growth | testimoni chang expect robust african | growth | continu polici maker need prepar |
| polici | expect robust african growth continu | polici | maker need prepar headwind uncertain |
| need | african growth continu polici maker | need | prepar headwind uncertain global economi |
| global | maker need prepar headwind uncertain | global | economi risk revers capit flow |
| economi | need prepar headwind uncertain global | economi | risk revers capit flow declin |
| polici | capit flow declin commod price | polici | aim maintain room polici maneuv |
| polici | price polici aim maintain room | polici | maneuv event headwind intensifi sustain |
| growth | maneuv event headwind intensifi sustain | growth | make inclus capit spend social |
| also | environ relationship imf african member | also | evolv african voic heard african |
| countri | evolv african voic heard african | countri | particip creditor well debtor dialogu |
| econom | character partnership rather confront kenya | econom | reform pay let turn kenya |
| countri | reform pay let turn kenya | countri | made major stride exampl contin |
| econom | major stride exampl contin marketdriven | econom | dynam happen chanc rather reflect |
| econom | chanc rather reflect effort anchor | econom | stabil sound fiscal monetari polici |
| polici | econom stabil sound fiscal monetari | polici | marketori structur reform fact kenya |
| econom | reform fact kenya stay cours | econom | reform good result kenya less |
| global | result kenya less vulner vagari | global | economi domest generat shock three |
| economi | kenya less vulner vagari global | economi | domest generat shock three year |
| econom | shock three year ago embark | econom | reform program financi support imf |
| growth | imf larg foundat faster last | growth | laid mean task anyth time |
| financ | foundat success key task public | financ | reflect agenda confer rais effici |
| also | import infrastructur larg gap remain | also | social spend particular import ensur |
| need | improv account qualiti servic deliveri | need | wellmanag guard risk excess spend |
| need | excess spend overlap function underscor | need | capac build public financi manag |
| polici | financi resourc capacitybuild assist monetari | polici | public financi manag recent start |
| global | manag recent start provid support | global | best practic manag natur resourc |
| econom | confer promis address mani critic | econom | issu ve rais look forward |
| polici | today generat policymak make macroprudenti | polici | work global effort meet challeng |
| global | policymak make macroprudenti polici work | global | effort meet challeng essenti polici |
| polici | global effort meet challeng essenti | polici | make financi system resili rang |
| countri | progress made larg experiment sever | countri | also research polici develop lead |
| also | made larg experiment sever countri | also | research polici develop lead academ |
| polici | experiment sever countri also research | polici | develop lead academ practition intern |
| polici | publish paper key aspect macroprudenti | polici | repres culmin multiyear polici develop |
| polici | macroprudenti polici repres culmin multiyear | polici | develop effort inde come long |
| global | come long way sinc begin | global | financi crisi policymak shock discov |
| polici | policymak shock discov glare gap | polici | toolkit time mean detect mitig |
| polici | could address tradit mix macroeconom | polici | microprudenti measur aim individu financi |
| need | individu financi institut new approach | need | fill polici gap ensur financi |
| polici | institut new approach need fill | polici | gap ensur financi stabil advanc |
| economi | gap ensur financi stabil advanc | economi | emerg market today macroprudenti polici |
| market | financi stabil advanc economi emerg | market | today macroprudenti polici high relev |
| polici | economi emerg market today macroprudenti | polici | high relev policymak advanc emerg |
| economi | high relev policymak advanc emerg | economi | seek cope sideeffect except accommod |
| polici | cope sideeffect except accommod monetari | polici | countri first hit crisi remark |
| countri | sideeffect except accommod monetari polici | countri | first hit crisi remark today |
| polici | issu ii proper object macroprudenti | polici | macroprudenti polici aim address system |
| polici | proper object macroprudenti polici macroprudenti | polici | aim address system vulner help |
| polici | driver system risk thing macroprudenti | polici | cannot includ control asset price |
| polici | aggreg demand extern imbal macroprudenti | polici | may effect polici potent address |
| polici | imbal macroprudenti polici may effect | polici | potent address economywid imbal asset |
| polici | may sometim tempt use macroprudenti | polici | substitut necessari polici order escap |
| polici | use macroprudenti polici substitut necessari | polici | order escap difficult polit decis |
| polici | difficult polit decis refrain macroprudenti | polici | panacea iii potenti synergi conflict |
| polici | iii potenti synergi conflict macroprudenti | polici | polici achiev goal macroprudenti polici |
| polici | potenti synergi conflict macroprudenti polici | polici | achiev goal macroprudenti polici need |
| polici | polici polici achiev goal macroprudenti | polici | need complement appropri macroeconom polici |
| need | polici achiev goal macroprudenti polici | need | complement appropri macroeconom polici well |
| polici | polici need complement appropri macroeconom | polici | well financi sector measur new |
| polici | includ detail analysi interact macroprudenti | polici | whole rang measur let focus |
| polici | measur let focus relationship macroprudenti | polici | main frenemi monetari microprudenti polici |
| polici | polici main frenemi monetari microprudenti | polici | monetari macroprudenti policiesin firstbest world |
| polici | macroprudenti policiesin firstbest world monetari | polici | take care price output stabil |
| polici | care price output stabil macroprudenti | polici | achiev financi stabil pursuit price |
| polici | stabil pursuit price stabil monetari | polici | may nevertheless undesir sideeffect financi |
| polici | sideeffect financi stabil exampl macroprudenti | polici | monetari polici effect macroprudenti polici |
| polici | stabil exampl macroprudenti polici monetari | polici | effect macroprudenti polici help lot |
| polici | polici monetari polici effect macroprudenti | polici | help lot particular appropri rang |
| polici | particular appropri rang tool macroprudenti | polici | better abl address undesir sideeffect |
| polici | abl address undesir sideeffect monetari | polici | financi stabil thus allow greater |
| also | monetari author pursu price stabil | also | extent macroprudenti polici reduc system |
| polici | price stabil also extent macroprudenti | polici | reduc system risk creat buffer |
| polici | risk creat buffer help monetari | polici | face advers financi shock reduc |
| polici | financi shock reduc risk monetari | polici | run constraint zero lower bound |
| economi | bound recent hit mani advanc | economi | macroprudenti polici miss insuffici effect |
| polici | hit mani advanc economi macroprudenti | polici | miss insuffici effect polit economi |
| economi | polici miss insuffici effect polit | economi | reason avail tool imperfect target |
| polici | avail tool imperfect target monetari | polici | continu aim price stabil need |
| need | polici continu aim price stabil | need | take financi stabil account lean |
| polici | imbal particular challeng aris monetari | polici | constrain fix exchang rate currenc |
| polici | currenc union euro area monetari | polici | stanc adopt area whole may |
| countri | contribut credit boom asset bubbl | countri | union ireland spain ahead crisi |
| need | ahead crisi turn creat greater | need | macroprudenti polici import macroprudenti polici |
| polici | turn creat greater need macroprudenti | polici | import macroprudenti polici lever avail |
| polici | need macroprudenti polici import macroprudenti | polici | lever avail counter imbal nation |
| polici | strong complementar interact monetari macroprudenti | polici | reinforc need strong macroprudenti framework |
| need | interact monetari macroprudenti polici reinforc | need | strong macroprudenti framework interact also |
| also | need strong macroprudenti framework interact | also | call adequ collabor monetari macroprudenti |
| polici | call adequ collabor monetari macroprudenti | polici | macroprudenti microprudenti policyin principl microprudenti |
| polici | microprudenti supervis work handinglov macroprudenti | polici | revis made wake crisi basel |
| need | principl place much stronger emphasi | need | macroprudenti perspect supervis lead happi |
| polici | supervis lead happi marriag two | polici | share inform joint analysi risk |
| polici | reinforc complementar microprudenti supervis macroprudenti | polici | inde strong microprudenti supervis essenti |
| polici | inform risk assess ensur macroprudenti | polici | stanc effect enforc across institut |
| polici | may aris microprudenti macroprudenti perspect | polici | reli similar transmiss mechan good |
| polici | allow perspect brought bear design | polici | cycl iv tool need use |
| need | design polici cycl iv tool | need | use implement macroprudenti polici tool |
| polici | tool need use implement macroprudenti | polici | tool remain work progress mani |
| countri | tool remain work progress mani | countri | fund recommend countri let highlight |
| countri | progress mani countri fund recommend | countri | let highlight two issu select |
| polici | issu select assembl macroprudenti toolsmacroprudenti | polici | cannot reli singl tool recommend |
| polici | tool enabl policymak adjust overal | polici | respons rang risk profil instanc |
| also | may help contain liquid risk | also | rein credit growth calibr macroprudenti |
| growth | liquid risk also rein credit | growth | calibr macroprudenti tool rule versus |
| polici | mechan avail tool assess cost | polici | action key advantag rulesbas framework |
| need | key advantag rulesbas framework reduc | need | overcom polit opposit variat macroprudenti |
| polici | unit kingdom v run macroprudenti | polici | institut arrang macroprudenti polici vari |
| polici | macroprudenti polici institut arrang macroprudenti | polici | vari across countri reflect tradit |
| countri | arrang macroprudenti polici vari across | countri | reflect tradit polit economi consider |
| economi | across countri reflect tradit polit | economi | consider nonetheless certain principl ensur |
| polici | first import someon charg turn | polici | wheel second author charg conduct |
| polici | second author charg conduct macroprudenti | polici | central bank mani countri particular |
| countri | macroprudenti polici central bank mani | countri | particular emerg asia ii dedic |
| polici | macrofinanci risk incent ensur macroprudenti | polici | job moreov mani countri central |
| countri | macroprudenti polici job moreov mani | countri | central bank uniqu insul lobbi |
| polici | polit pressur import make macroprudenti | polici | work third whoever given mandat |
| polici | third whoever given mandat turn | polici | wheel need given adequ power |
| need | given mandat turn polici wheel | need | given adequ power power need |
| need | need given adequ power power | need | wield tool also gain access |
| also | power power need wield tool | also | gain access inform need assess |
| need | tool also gain access inform | need | assess system risk initi expans |
| polici | bank shadow bank impact macroprudenti | polici | tool consider uncertainti transmiss mechan |
| polici | consider uncertainti transmiss mechan macroprudenti | polici | made progress map transmiss channel |
| polici | analysi communic communic challeng macroprudenti | polici | easili understood reli rang instrument |
| polici | lead central bank expand rang | polici | lever make sure time action |
| polici | sure time action taken macroprudenti | polici | subject strong bias favor inact |
| global | role imf imf play role | global | macroprudenti facilit involv continu increas |
| countri | financi stabil board standard setter | countri | author consid mandat help ensur |
| polici | help ensur effect use macroprudenti | polici | fund continu act global risk |
| global | macroprudenti polici fund continu act | global | risk advisor multilater surveil also |
| also | global risk advisor multilater surveil | also | step macroprudenti dialog member countri |
| countri | also step macroprudenti dialog member | countri | bilater surveil financi sector assess |
| polici | empir data use effect macroprudenti | polici | implement nation global level reli |
| global | effect macroprudenti polici implement nation | global | level reli process trial error |
| polici | natur feed back fund research | polici | develop inde done paper publish |
| global | done paper publish today facilit | global | dialog fund promot better understand |
| polici | spillov crossbord stabil implic macroprudenti | polici | interconnect world even macroprudenti polici |
| polici | polici interconnect world even macroprudenti | polici | set right nation level guarante |
| global | right nation level guarante result | global | mix conduc global financi stabil |
| global | guarante result global mix conduc | global | financi stabil viii conclusionslet conclud |
| global | recommend ensur financi stabil nation | global | level share respons let make |
| polici | well known cut edg monetari | polici | research analysi reflect morn certain |
| economi | generat policymak rethink reimagin get | economi | back work one strike aspect |
| economi | aspect willing central bank advanc | economi | dive deep end policymak pool |
| global | mani respect central bank hero | global | financi crisi compar convent monetari |
| polici | financi crisi compar convent monetari | polici | unconvent monetari polici past year |
| polici | convent monetari polici unconvent monetari | polici | past year bolder ambit larger |
| also | precipic anoth great depress crisi | also | gave us caus rethink extent |
| economi | bankruptci unit state brought world | economi | knee eurozon troubl shook global |
| global | economi knee eurozon troubl shook | global | economi anoth worri today risk |
| economi | knee eurozon troubl shook global | economi | anoth worri today risk slowdown |
| market | worri today risk slowdown emerg | market | pull back growth everywher unconvent |
| growth | slowdown emerg market pull back | growth | everywher unconvent monetari polici bring |
| polici | back growth everywher unconvent monetari | polici | bring ad twist much mind |
| polici | watch develop week remind us | polici | action one corner world reach |
| polici | corner world broad unconvent monetari | polici | involv navig new world one |
| need | dark room main messag today | need | work better togeth understand fulli |
| polici | togeth understand fulli impact unconvent | polici | local global affect path exit |
| global | fulli impact unconvent polici local | global | affect path exit must use |
| polici | wise wast space provid unconvent | polici | global policymak policymak within countri |
| global | wast space provid unconvent polici | global | policymak policymak within countri across |
| countri | polici global policymak policymak within | countri | across countri respons take full |
| countri | policymak policymak within countri across | countri | respons take full rang action |
| need | respons take full rang action | need | restor stabil growth reduc imbal |
| growth | rang action need restor stabil | growth | reduc imbal spirit would like |
| polici | main area one unconvent monetari | polici | us elsewher affect world economi |
| economi | polici us elsewher affect world | economi | far two affect world go |
| global | one prepar exit three mix | global | polici better deliv last growth |
| polici | prepar exit three mix global | polici | better deliv last growth merit |
| growth | global polici better deliv last | growth | merit ump farth natur place |
| polici | start look back unconvent monetari | polici | need help know open question |
| need | look back unconvent monetari polici | need | help know open question fund |
| econom | financi turmoil ump help support | econom | activ financi stabil domest global |
| global | econom activ financi stabil domest | global | certain true initi phase ump |
| polici | good deal attent wider implic | polici | revamp surveil framework trace interconnect |
| countri | surveil framework trace interconnect within | countri | say financi sector real economi |
| economi | countri say financi sector real | economi | countri difficult pin exact ramif |
| countri | say financi sector real economi | countri | difficult pin exact ramif polici |
| polici | countri difficult pin exact ramif | polici | degre precis simpli mani move |
| countri | certain mani differ opinion across | countri | said stand terra nova said |
| market | bond yield basi point prior | market | correct earlier year boost world |
| global | ump shore activ face possibl | global | depress measur market risk tell |
| market | face possibl global depress measur | market | risk tell similar stori reduc |
| market | risk tell similar stori reduc | market | uncertainti period elev financi stress |
| market | chang exampl declin across rang | market | immedi follow ump action fed |
| countri | even sinc ump success balanc | countri | benefit first remov gravest risk |
| growth | gravest risk financi turmoil boost | growth | may alway case go forward |
| global | alway case go forward current | global | calculus umpthat bring next main |
| need | suggest rush exit ump still | need | place use albeit longer other |
| polici | come period except loos monetari | polici | convent unconvent must end line |
| econom | convent unconvent must end line | econom | recoveri impact inflat need plan |
| need | line econom recoveri impact inflat | need | plan day especi sinc know |
| need | former calculus easi howev togeth | need | keep eye financi stabil growth |
| growth | need keep eye financi stabil | growth | togeth need watch whether benefit |
| need | eye financi stabil growth togeth | need | watch whether benefit ump subject |
| need | ump subject diminish return togeth | need | analyz whether financi sideeffect get |
| need | exit equal well fund policymak | need | start think exit eventu look |
| global | eventu look like includ implic | global | econom financi stabil whole system |
| econom | look like includ implic global | econom | financi stabil whole system one |
| polici | certain long period loos monetari | polici | ultralow rate mix hunt higher |
| growth | ump could easili result wors | growth | outcom even greater risk financi |
| global | time pass particular know whether | global | market correct earlier year use |
| market | pass particular know whether global | market | correct earlier year use remind |
| polici | yield curv perhap convent monetari | polici | would tend affect broader rang |
| polici | class typic see convent monetari | polici | thus creat risktak incent could |
| countri | benefit still clear posit ump | countri | two need look close spillov |
| need | clear posit ump countri two | need | look close spillov admit difficult |
| econom | disentangl effect ump factor affect | econom | outcom still tighten cycl past |
| countri | spillov learn histori advanc emerg | countri | general done good job manag |
| polici | general done good job manag | polici | implic ump work seri case |
| countri | seri case studi largest nonump | countri | collect repres percent global output |
| global | nonump countri collect repres percent | global | output follow initi ump seen |
| market | measur cumul net flow emerg | market | rose trillion sinc squar longrun |
| also | corpor leverag foreign exchang exposur | also | increas sever case real estat |
| polici | cours would expect even convent | polici | recip low interest rate hunt |
| market | search opportun capit flow emerg | market | usual potenti appreci credit growth |
| growth | market usual potenti appreci credit | growth | general countri undertaken sound macroeconom |
| countri | potenti appreci credit growth general | countri | undertaken sound macroeconom manag action |
| countri | upshot present calculus ump nonump | countri | balanc still posit least know |
| market | quick seen recent day emerg | market | economi risk requir constant monitor |
| economi | seen recent day emerg market | economi | risk requir constant monitor reassess |
| polici | unconvent often lump togeth monetari | polici | today multifacet involv forward guidanc |
| polici | multifacet involv forward guidanc futur | polici | purchas privat asset support stabil |
| market | privat asset support stabil specif | market | less focus quantit eas purchas |
| polici | ump involv phase ultim revers | polici | mean occur time inde seem |
| polici | aspect ump guidanc futur path | polici | rate rate futur asset purchas |
| also | slower longer often portray fear | also | safe assum exit depend progress |
| polici | safe assum exit depend progress | polici | durabl recoveri fact exit understood |
| market | exit understood digest smooth possibl | market | need conting strengthen economi better |
| need | understood digest smooth possibl market | need | conting strengthen economi better mix |
| economi | possibl market need conting strengthen | economi | better mix global policiesthat bring |
| global | conting strengthen economi better mix | global | policiesthat bring third final main |
| polici | third final main point broader | polici | path forward monetari polici good |
| polici | broader polici path forward monetari | polici | good assum cannot everyth cannot |
| econom | provid answer cannot solv everi | econom | problem need convinc audienc point |
| need | cannot solv everi econom problem | need | convinc audienc point fundament ump |
| need | convinc audienc point fundament ump | need | complement broader spectrum polici move |
| polici | ump need complement broader spectrum | polici | move global economi forward let |
| global | complement broader spectrum polici move | global | economi forward let step back |
| economi | broader spectrum polici move global | economi | forward let step back moment |
| countri | reluct advis dare say soft | countri | pursu ump disagre consist emphas |
| polici | disagre consist emphas number year | polici | mix need mediumterm fiscal financi |
| need | emphas number year polici mix | need | mediumterm fiscal financi structur reform |
| polici | structur reform even without desir | polici | better ump worri hard work |
| polici | done front adopt admit difficult | polici | need balanc durabl inclus growth |
| need | front adopt admit difficult polici | need | balanc durabl inclus growth talk |
| growth | polici need balanc durabl inclus | growth | talk countri ump countri know |
| countri | balanc durabl inclus growth talk | countri | ump countri know precis counterfactu |
| countri | inclus growth talk countri ump | countri | know precis counterfactu would say |
| countri | ump code ultim procrastin ump | countri | get mix right mean two |
| growth | reform lay foundat durabl last | growth | wast space provid ump need |
| need | growth wast space provid ump | need | broader spectrum polici sustain growth |
| polici | provid ump need broader spectrum | polici | sustain growth longer term ensur |
| growth | need broader spectrum polici sustain | growth | longer term ensur fiscal sustain |
| polici | ail bank system exact combin | polici | vari countri imf cover issu |
| countri | system exact combin polici vari | countri | imf cover issu length occas |
| econom | issu length occas recent annual | econom | assess sever major countri rehash |
| countri | annual econom assess sever major | countri | rehash progress broader polici front |
| polici | major countri rehash progress broader | polici | front help make ump effect |
| also | effect today tame potenti risk | also | help open door smooth exit |
| countri | exit let give one exampl | countri | especi euro area still need |
| need | countri especi euro area still | need | work financi repair unclog financi |
| polici | financi fragment help make monetari | polici | work better broad make progress |
| econom | rang consider affect ump decis | econom | activ financi stabil also import |
| also | decis econom activ financi stabil | also | import communic risk side equat |
| market | communic financi condit could undermin | market | stabil yet say littl could |
| market | littl could well wors lead | market | surpris even manag well exit |
| countri | ump may well present nonump | countri | arduous obstacl cours nonump countri |
| countri | countri arduous obstacl cours nonump | countri | prepar react part alreadi ahead |
| polici | risk continu follow lead precis | polici | action vari countri circumst nonump |
| countri | lead precis polici action vari | countri | circumst nonump countri need vigor |
| countri | action vari countri circumst nonump | countri | need vigor pursu deeper polici |
| need | vari countri circumst nonump countri | need | vigor pursu deeper polici report |
| polici | countri need vigor pursu deeper | polici | report outlin last mediumterm growth |
| growth | polici report outlin last mediumterm | growth | inde recent concern slow growth |
| growth | growth inde recent concern slow | growth | potenti emerg market reinforc point |
| market | concern slow growth potenti emerg | market | reinforc point equal import issu |
| economi | instabl present serious risk nonump | economi | good news tool deal exchang |
| market | exchang rate flexibl help cost | market | intervent may help moder exchang |
| countri | liquid pressur far advanc emerg | countri | use macro microprudenti measur throw |
| growth | wheel excess deal frothi credit | growth | potenti financi sector vulner circumst |
| need | best effort dam might leak | need | line defens line defens reflect |
| global | interdepend common purpos mutual respons | global | economi swap line along line |
| economi | common purpos mutual respons global | economi | swap line along line provid |
| polici | fund part stand readi provid | polici | advic financi support includ precautionari |
| need | includ precautionari basi various instrument | need | work togeth work better togeth |
| polici | note tie togeth scope intern | polici | coordin cooper improv global outcom |
| global | intern polici coordin cooper improv | global | outcom countri island said outset |
| countri | coordin cooper improv global outcom | countri | island said outset today interconnect |
| polici | today interconnect world spillov domest | polici | ump includ may well feed |
| polici | step toward decid futur cours | polici | best meet challeng work open |
| polici | us right direct forum intern | polici | cooper fund help also incumb |
| also | intern polici cooper fund help | also | incumb us use surveil effect |
| polici | us use surveil effect support | polici | decis member countri face delv |
| countri | effect support polici decis member | countri | face delv deepli polici interconnect |
| polici | member countri face delv deepli | polici | interconnect spillov among member countri |
| countri | polici interconnect spillov among member | countri | offer clear analysi gain work |
| global | encourag policymak understand action fit | global | polici agenda polici polici coordin |
| polici | policymak understand action fit global | polici | agenda polici polici coordin yet |
| polici | action fit global polici agenda | polici | polici coordin yet need fail |
| polici | fit global polici agenda polici | polici | coordin yet need fail act |
| need | agenda polici polici coordin yet | need | fail act global level countri |
| global | coordin yet need fail act | global | level countri play part could |
| countri | need fail act global level | countri | play part could put global |
| global | countri play part could put | global | recoveri risk action howev place |
| economi | risk action howev place world | economi | path strong sustain balanc growth |
| growth | economi path strong sustain balanc | growth | world done enough tread water |
| countri | grate romanian govern invit enchant | countri | great pleasur beauti bucharest first |
| global | would like talk three thing | global | contextso global stand last week |
| global | talk three thing global contextso | global | stand last week imf releas |
| economi | imf releas updat outlook world | economi | certain would character bad news |
| global | speed bump road strong sustain | global | growth overal global economi expand |
| growth | bump road strong sustain global | growth | overal global economi expand around |
| global | strong sustain global growth overal | global | economi expand around percent year |
| economi | sustain global growth overal global | economi | expand around percent year fraction |
| growth | factor continu recess euro area | growth | still negat territori tune percent |
| also | still negat territori tune percent | also | weaker expect growth mani key |
| growth | tune percent also weaker expect | growth | mani key emerg market economi |
| market | expect growth mani key emerg | market | economi still emerg market develop |
| economi | growth mani key emerg market | economi | still emerg market develop economi |
| market | emerg market economi still emerg | market | develop economi sourc relat strength |
| economi | economi still emerg market develop | economi | sourc relat strength global economi |
| global | develop economi sourc relat strength | global | economi percent growth year also |
| economi | economi sourc relat strength global | economi | percent growth year also pocket |
| growth | relat strength global economi percent | growth | year also pocket growth general |
| also | global economi percent growth year | also | pocket growth general right track |
| growth | percent growth year also pocket | growth | general right track mind unit |
| growth | larg fiscal tighten hold back | growth | pictur also cloud risk old |
| also | tighten hold back growth pictur | also | cloud risk old new familiar |
| also | pend issu u debt ceil | also | risk growth slowdown emerg market |
| growth | u debt ceil also risk | growth | slowdown emerg market could last |
| market | also risk growth slowdown emerg | market | could last longer expect part |
| growth | home tighter credit structur constraint | growth | also extern factor includ weaker |
| also | tighter credit structur constraint growth | also | extern factor includ weaker global |
| global | also extern factor includ weaker | global | demand financi stabil concern anoth |
| economi | anoth watch point advanc emerg | economi | alik risk current market turbul |
| market | emerg economi alik risk current | market | turbul could continu deepen key |
| polici | go forward unwind unconvent monetari | polici | care phase clear communic critic |
| polici | serv remind us focus peopl | polici | partnership ii lesson neighborhoodher region |
| countri | wall came door west open | countri | peopl region chang forev year |
| economi | region romania turn decis open | economi | modern institut europ embrac togeth |
| growth | togeth integr reform deliv rapid | growth | eastern europ grew faster emerg |
| market | eastern europ grew faster emerg | market | region except china india know |
| countri | china india know stori well | countri | rode wave export lift even |
| polici | ultim fuel much demand fiscal | polici | fan rather quell unsustain pace |
| growth | fan rather quell unsustain pace | growth | saw current account deficit reach |
| countri | account deficit reach doubledigit mani | countri | go high percent gdp crisi |
| economi | percent gdp crisi hit expos | economi | peopl heavi loss growth turn |
| growth | expos economi peopl heavi loss | growth | turn sharpli negat doubledigit declin |
| countri | sharpli negat doubledigit declin mani | countri | five year start crisi worst |
| countri | year start crisi worst pass | countri | neighborhood return growth along romania |
| growth | worst pass countri neighborhood return | growth | along romania year expect two |
| countri | along romania year expect two | countri | croatia slovenia remain recess compar |
| growth | har power integr achiev last | growth | job creation three key thing |
| countri | romania even stake gain among | countri | neighborhood european union enorm market |
| market | countri neighborhood european union enorm | market | destin percent romania export sourc |
| growth | foreign direct invest howev simpl | growth | opportun chanc improv well romanian |
| countri | posit make leap forward one | countri | vast econom potenti potenti abund |
| econom | leap forward one countri vast | econom | potenti potenti abund suppli natur |
| market | energet larg untap workforc labor | market | particip among lowest eu percent |
| economi | still women romania success stabil | economi | hard hit crisi involv difficult |
| countri | hit crisi involv difficult decis | countri | took ownership problem deliv impress |
| also | membership spirit strong cooper partnership | also | hallmark romania success stabil vienna |
| growth | romania far effort creat platform | growth | confid romania stay cours focus |
| economi | romania stay cours focus take | economi | next level prioriti pursu plan |
| countri | romania surviv thrive part europ | countri | deserv credit take step past |
| growth | begin chip away barrier higher | growth | would highlight impress step toward |
| also | model approach gradual liber price | also | better target social assist mitig |
| growth | romania perman path higher inclus | growth | kind reform mean reform support |
| also | fund effici public invest would | also | support growth path greater prosper |
| growth | public invest would also support | growth | path greater prosper requir determin |
| polici | determin crisi tell us anyth | polici | action take time creat chang |
| growth | take time creat chang generat | growth | final thoughton note let leav |
| countri | share european famili part say | countri | und doi puterea creÅŸt sound |
| countri | melodi mean reveal someth profound | countri | english translat two strength rise |
| also | heritag romania undeni uniqu yet | also | profound european part european famili |
| global | european part european famili part | global | communiti romania go strength strength |
| econom | keynot speech inaugur sri lanka | econom | summit held colombo event sponsor |
| economi | ceylon chamber commerc theme rebalanc | economi | mr singh present entitl asia |
| global | start note grow import asia | global | economi went discuss research find |
| economi | note grow import asia global | economi | went discuss research find commiss |
| growth | went discuss research find commiss | growth | develop well other common factor |
| countri | well other common factor share | countri | manag sustain rapid growth extend |
| growth | share countri manag sustain rapid | growth | extend period draw lesson sri |
| growth | rais save invest acceler product | growth | also stress need improv educ |
| also | save invest acceler product growth | also | stress need improv educ health |
| need | acceler product growth also stress | need | improv educ health improv labor |
| growth | potenti rais key driver sustain | growth | substanti narrow incom gap emerg |
| market | substanti narrow incom gap emerg | market | economi |
| economi | narrow incom gap emerg market | economi | |
| global | strong law institut robust wellgovern | global | economi tonight would like explor |
| economi | law institut robust wellgovern global | economi | tonight would like explor issu |
| econom | import strong legal institut framework | econom | growth stabil emphasi current state |
| growth | strong legal institut framework econom | growth | stabil emphasi current state global |
| global | growth stabil emphasi current state | global | economi second highlight aspect imf |
| economi | stabil emphasi current state global | economi | second highlight aspect imf role |
| countri | aspect imf role help member | countri | design strong legal institut framework |
| econom | done area assur safeguard longterm | econom | prosper start brief updat global |
| global | econom prosper start brief updat | global | recoveri uneven fact suffer unfinish |
| global | legal institut reform see threespe | global | economi economi grow nice like |
| economi | institut reform see threespe global | economi | economi grow nice like emerg |
| economi | reform see threespe global economi | economi | grow nice like emerg market |
| market | economi grow nice like emerg | market | asia experienc rebound like u |
| growth | continu see weak even declin | growth | like part europ project global |
| global | growth like part europ project | global | growth remain percent much higher |
| growth | like part europ project global | growth | remain percent much higher last |
| need | softer patch state affair optim | need | move full speed global recoveri |
| global | optim need move full speed | global | recoveri strong econom perform countri |
| econom | full speed global recoveri strong | econom | perform countri strong legal institut |
| countri | global recoveri strong econom perform | countri | strong legal institut framework strong |
| global | reform critic compon unfinish agenda | global | recoveri current crisi play aggress |
| economi | current crisi play aggress advanc | economi | iron economi previous assum strongest |
| economi | play aggress advanc economi iron | economi | previous assum strongest legal institut |
| economi | regulatori institut weak sourc crisi | economi | third best second gear recov |
| economi | recov current relat weak posit | economi | need implement rang legal institut |
| need | current relat weak posit economi | need | implement rang legal institut reform |
| polici | institut reform area bank fiscal | polici | corporatehousehold debt restructur well tax |
| polici | corporatehousehold debt restructur well tax | polici | current econom junctur even economi |
| econom | restructur well tax polici current | econom | junctur even economi mend relat |
| economi | polici current econom junctur even | economi | mend relat well immun need |
| need | economi mend relat well immun | need | continu adopt robust legal institut |
| growth | sector address remain vulner strengthen | growth | trajectori natur strong law robust |
| global | institut necessari last full speed | global | recoveri two essenti compon first |
| need | recoveri two essenti compon first | need | law underpin unwav respect rule |
| also | pouvoir arrêt le pouvoir montesquieu | also | requir strong fiscal institut credibl |
| econom | framework core featur describ sustain | econom | growth recogn polit scientist economist |
| growth | core featur describ sustain econom | growth | recogn polit scientist economist alik |
| countri | polit scientist economist alik histori | countri | develop strong legal institut framework |
| growth | framework perform better term sustain | growth | human develop recent book nation |
| economi | describ dead capit larg inform | economi | asset undervalu unreport untax imagin |
| economi | best account never cadastr underground | economi | estim percent gdp develop countri |
| countri | economi estim percent gdp develop | countri | percent advanc economi like u |
| economi | gdp develop countri percent advanc | economi | like u think lost product |
| economi | u think lost product potenti | economi | almost half activ unreport almost |
| global | particular aim full speed recoveri | global | financi crisi imf often involv |
| countri | crisi nearcrisi junctur serv catalyst | countri | enact legal institut reform otherwis |
| economi | effort area current focus advanc | economi | particular euro area also continu |
| also | advanc economi particular euro area | also | continu good amount work emerg |
| market | continu good amount work emerg | market | lowincom member unfinish reform area |
| countri | put motion process reform member | countri | must sustain reform time effect |
| polici | institut framework essenti design implement | polici | advic first area fiscal framework |
| econom | debt restructur third area combat | econom | crime area taken centr stage |
| global | taken centr stage imf respons | global | financi crisi strengthen fiscal frameworkssinc |
| polici | design legal institut framework fiscal | polici | today see import strong fiscal |
| global | plan fiscal consolid particular respons | global | financi crisi know appropri pace |
| global | know appropri pace consolid top | global | econom agenda recent month import |
| econom | appropri pace consolid top global | econom | agenda recent month import area |
| countri | tax reform found mani member | countri | weak much enforc law tax |
| also | program includ greec instanc imf | also | work extens countri rich natur |
| countri | instanc imf also work extens | countri | rich natur resourc liberia mozambiqu |
| countri | corpor household sector imf help | countri | revis insolv law though found |
| need | outofcourt debt restructur framework measur | need | optim effici court proceed particular |
| global | issu find way effici resolv | global | financi institut took excess debt |
| global | intern financi group oper increas | global | integr basi howev legal institut |
| need | nation death becom abund clear | need | way encourag cooper coordin nation |
| also | measur crossbord cooper europ imf | also | strong support effort creat european |
| countri | necessari legal institut framework place | countri | may push bailout institut perceiv |
| countri | sovereign must recogn certain point | countri | public debt level may becom |
| need | last resort strong legal framework | need | support debt restructur process ongo |
| polici | met recent discuss imf legal | polici | framework regard sovereign debt restructur |
| econom | sovereign debt restructur improv combat | econom | crimeso tax law bankruptci resolut |
| global | accompani activ sever undermin nation | global | financi stabil eat govern revenu |
| growth | framework may contribut attract unsustain | growth | financi sector financi fraud centr |
| countri | financi fraud centr crise number | countri | imf involv effort area thus |
| financ | requir mobil antimoney launder counter | financ | terror framework clamp econom crime |
| econom | counter financ terror framework clamp | econom | crime exampl increas monitor suspici |
| growth | erod social fabric hinder prospect | growth | human develop conclus govern inequ |
| also | critic area work area work | also | mandat prevent crise promot sustain |
| growth | mandat prevent crise promot sustain | growth | futur context realiz perhap need |
| need | growth futur context realiz perhap | need | spend time identifi reflect factor |
| econom | factor longer term may impact | econom | prosper discuss import strong law |
| econom | underpin rule law long term | econom | prosper countri whose legal institut |
| countri | law long term econom prosper | countri | whose legal institut framework particular |
| also | weak like pay weak time | also | longterm trend major impact econom |
| econom | also longterm trend major impact | econom | prosper exampl signific evid time |
| growth | time grow inequ advers affect | growth | stabil equal need take account |
| need | advers affect growth stabil equal | need | take account trend climat chang |
| growth | chang resourc scarciti reconcil aspir | growth | constraint finit planet sustain growth |
| growth | growth constraint finit planet sustain | growth | also green growth accord make |
| also | constraint finit planet sustain growth | also | green growth accord make sens |
| growth | planet sustain growth also green | growth | accord make sens ask whether |
| need | accord make sens ask whether | need | reform area also form greater |
| also | ask whether need reform area | also | form greater part convers member |
| countri | form greater part convers member | countri | even short term crisi appear |
| also | appear horizon clear intern organ | also | wellplac play lead role area |
| econom | promulg care communiti imf public | econom | institut higher purpos promot common |
| global | promot common good best interest | global | communiti need foster strong law |
| need | good best interest global communiti | need | foster strong law institut think |
| econom | decis make today achiev sustain | econom | growth central imf mandat thank |
| growth | make today achiev sustain econom | growth | central imf mandat thank |
| countri | brook one influenti research institut | countri | let thank member board council |
| econom | stage remain lead figur intern | econom | debat today would like give |
| global | today would like give snapshot | global | econom trend month ago imf |
| econom | would like give snapshot global | econom | trend month ago imf spring |
| global | take place emerg three speed | global | economi project overal global growth |
| economi | place emerg three speed global | economi | project overal global growth percent |
| global | speed global economi project overal | global | growth percent pictur chang sinc |
| growth | global economi project overal global | growth | percent pictur chang sinc broad |
| countri | broad still see three speed | countri | split well ii mend iii |
| market | travel still see upbeat financi | market | sit uncomfort besid downbeat real |
| economi | sit uncomfort besid downbeat real | economi | still see global job crisi |
| global | downbeat real economi still see | global | job crisi recoveri enough lift |
| also | enough lift prospect peopl howev | also | see glimps somber trend recent |
| growth | recent data exampl suggest slowdown | growth | time downsid risk growth remain |
| growth | slowdown growth time downsid risk | growth | remain promin ever could enter |
| polici | patch reinforc core messag make | polici | stronger stop global economi get |
| global | messag make polici stronger stop | global | economi get weaker better current |
| economi | make polici stronger stop global | economi | get weaker better current threespe |
| need | weaker better current threespe solut | need | full speed global recoveri requir |
| global | threespe solut need full speed | global | recoveri requir care custom polici |
| polici | global recoveri requir care custom | polici | respons three group let flesh |
| market | speed group compris essenti emerg | market | develop countri countri enter crisi |
| countri | compris essenti emerg market develop | countri | countri enter crisi posit strength |
| countri | essenti emerg market develop countri | countri | enter crisi posit strength still |
| market | fact past half decad emerg | market | develop economi led world recoveri |
| economi | half decad emerg market develop | economi | led world recoveri account threequart |
| global | led world recoveri account threequart | global | growth today develop asia subsaharan |
| growth | world recoveri account threequart global | growth | today develop asia subsaharan africa |
| growth | recent imf studi suggest today | growth | lowincom countri robust past less |
| countri | studi suggest today growth lowincom | countri | robust past less vulner pitfal |
| market | see sign slow momentum emerg | market | china recent activ weak growth |
| growth | market china recent activ weak | growth | remain reliant credit properti invest |
| also | properti invest infrastructur invest prospect | also | look less bright key market |
| market | also look less bright key | market | like brazil india russia south |
| countri | brazil india russia south africa | countri | need implement polici protect accomplish |
| need | india russia south africa countri | need | implement polici protect accomplish stay |
| polici | south africa countri need implement | polici | protect accomplish stay strong part |
| growth | domest vulner structur obstacl sustain | growth | includ infrastructur regulatori bottleneck well |
| also | infrastructur regulatori bottleneck well govern | also | mean look outward keep watch |
| economi | keep watch eye spillov advanc | economi | especi extend period unconvent monetari |
| polici | especi extend period unconvent monetari | polici | imf done research issu part |
| polici | work examin role effect monetari | polici | crisi find first unconvent monetari |
| polici | crisi find first unconvent monetari | polici | achiev great deal domest front |
| market | domest front help make financi | market | work took sever risk tabl |
| also | work took sever risk tabl | also | help growth although effect hard |
| growth | sever risk tabl also help | growth | although effect hard quantifi turn |
| polici | quantifi turn rest world believ | polici | also posit effect balanc especi |
| also | turn rest world believ polici | also | posit effect balanc especi better |
| global | posit effect balanc especi better | global | financi stabil higher growth advanc |
| growth | better global financi stabil higher | growth | advanc economi lower interest rate |
| economi | financi stabil higher growth advanc | economi | lower interest rate lower spread |
| polici | spread sure persist easi monetari | polici | increas flow capit emerg market |
| market | polici increas flow capit emerg | market | especi asia latin america flow |
| economi | asia latin america flow benefici | economi | also lead financi stabil risk |
| also | latin america flow benefici economi | also | lead financi stabil risk even |
| economi | revers larg capit flow overwhelm | economi | right risk appear control manag |
| polici | appear control manag sound macroeconom | polici | complement macroprudenti polici gear toward |
| polici | sound macroeconom polici complement macroprudenti | polici | gear toward tame financi excess |
| also | measur direct control capit flow | also | help let clear believ accommod |
| polici | let clear believ accommod monetari | polici | advanc economi includ unconvent measur |
| economi | believ accommod monetari polici advanc | economi | includ unconvent measur continu must |
| also | includ unconvent measur continu must | also | acknowledg howev longer durat grow |
| polici | lead grow risk time monetari | polici | must ask much use excus |
| polici | excus avoid bring balanc fiscal | polici | defer muchneed structur financi reform |
| countri | muchneed structur financi reform contrari | countri | must use breath space offer |
| polici | breath space offer unconvent monetari | polici | come grip under econom fragil |
| econom | monetari polici come grip under | econom | fragil right set polici side |
| polici | under econom fragil right set | polici | side equat advanc economi emerg |
| economi | set polici side equat advanc | economi | emerg market believ risk manag |
| market | side equat advanc economi emerg | market | believ risk manag global economi |
| global | emerg market believ risk manag | global | economi continu forward momentum secondspe |
| economi | market believ risk manag global | economi | continu forward momentum secondspe grouplet |
| countri | grouplet turn second speed group | countri | suffer crisi mend includ unit |
| also | mend includ unit state plus | also | countri like australia canada new |
| countri | includ unit state plus also | countri | like australia canada new zealand |
| growth | industri eas financi condit believ | growth | almost percent year higher still |
| growth | could cut half percent gdp | growth | also extrem blunt instrument impos |
| also | cut half percent gdp growth | also | extrem blunt instrument impos deep |
| growth | sequest replac backload measur howev | growth | strengthen second half year us |
| also | strengthen second half year us | also | need durabl solut rais debt |
| need | second half year us also | need | durabl solut rais debt ceil |
| market | ceil would help avoid financi | market | instabl possibl undermin recoveri anoth |
| econom | next year revenu recov faster | econom | growth public debt ratio also |
| growth | year revenu recov faster econom | growth | public debt ratio also start |
| also | econom growth public debt ratio | also | start declin growth pick provid |
| growth | debt ratio also start declin | growth | pick provid interest rate stay |
| also | gdp next decad interest outlay | also | project increas amount period rate |
| polici | spend plus addit revenu major | polici | challeng face us today must |
| countri | grouplet turn third speed group | countri | still distanc travel recoveri group |
| economi | bank union yet euro area | economi | still stuck low gear activ |
| growth | shrink begin year expect negat | growth | percent year whole overal region |
| countri | either lend firm rise gradual | countri | like germani countri like itali |
| countri | rise gradual countri like germani | countri | like itali spain peripheri still |
| growth | combin linger uncertainti euro area | growth | outlook evolut euro area institut |
| countri | area institut drain momentum even | countri | like germani franc stake high |
| polici | like germani franc stake high | polici | front need done first foremost |
| need | franc stake high polici front | need | done first foremost region need |
| need | need done first foremost region | need | new growth agenda combin areawid |
| growth | first foremost region need new | growth | agenda combin areawid nationallevel initi |
| market | credit provis job creation labor | market | reform follow polici help certain |
| polici | creation labor market reform follow | polici | help certain bank burden bad |
| need | translat afford credit peopl firm | need | plumb clog see financi fragment |
| polici | necessari shut bank likewis monetari | polici | role play support growth strong |
| growth | monetari polici role play support | growth | strong support relat accommod stanc |
| need | would develop without control see | need | unconvent monetari polici reduc fragment |
| polici | control see need unconvent monetari | polici | reduc fragment help credit flow |
| need | credit flow beyond euro area | need | real bank union strengthen foundat |
| polici | common fiscal backstop turn fiscal | polici | fiscal consolid still necessari essenti |
| countri | still necessari essenti pace well | countri | market pressur littl choic stick |
| market | necessari essenti pace well countri | market | pressur littl choic stick consist |
| countri | european increas recogn euro area | countri | also need structur reform unleash |
| also | increas recogn euro area countri | also | need structur reform unleash competit |
| need | recogn euro area countri also | need | structur reform unleash competit packag |
| polici | structur reform unleash competit packag | polici | believ euro area get growth |
| growth | polici believ euro area get | growth | engin run bring japan anoth |
| countri | engin run bring japan anoth | countri | thirdspe camp countri whose economi |
| countri | japan anoth countri thirdspe camp | countri | whose economi inde sped past |
| economi | countri thirdspe camp countri whose | economi | inde sped past month larg |
| growth | grew  ½ percent project | growth | percent year whole trajectori continu |
| countri | move japan third second speed | countri | group yet still distanc go |
| polici | ahead japan solidifi gain monetari | polici | certain right track especi new |
| polici | year yet new direct monetari | polici | need complement balanc fiscal polici |
| need | yet new direct monetari polici | need | complement balanc fiscal polici recent |
| polici | polici need complement balanc fiscal | polici | recent fiscal stimulus effect longer |
| also | entitl reform shift higher gear | also | mean press ahead structur reform |
| also | open domest servic agricultur japan | also | need provid employ opportun older |
| need | domest servic agricultur japan also | need | provid employ opportun older worker |
| countri | lower women men lower compar | countri | simpli throw away much econom |
| econom | countri simpli throw away much | econom | potenti time need japan consid |
| need | away much econom potenti time | need | japan consid polici attract women |
| polici | potenti time need japan consid | polici | attract women workforc includ step |
| polici | work mother conclusionlet conclud laid | polici | hope transform current threespe economi |
| economi | polici hope transform current threespe | economi | someth stronger fullspe economi desir |
| economi | threespe economi someth stronger fullspe | economi | desir solid sustain balanc inclus |
| polici | solid sustain balanc inclus talk | polici | requir three speed group yet |
| growth | sector support rather undermin stabil | growth | balanc pattern global demand region |
| global | undermin stabil growth balanc pattern | global | demand region world attent growth |
| growth | global demand region world attent | growth | job equiti econom life issu |
| econom | world attent growth job equiti | econom | life issu realli matter peopl |
| polici | peopl messag must keep momentum | polici | agenda across polici region renew |
| polici | keep momentum polici agenda across | polici | region renew threat econom weak |
| econom | across polici region renew threat | econom | weak horizon import ever push |
| global | outset confer organ bank korea | global | liquid global framework import topic |
| global | organ bank korea global liquid | global | framework import topic arous renew |
| global | interest recent year particular light | global | financi crisi ampl global liquid |
| global | light global financi crisi ampl | global | liquid singl potenti factor behind |
| economi | implic general monetari eas advanc | economi | discuss focus immedi spillov particular |
| also | focus immedi spillov particular measur | also | implic global financi stabil prolong |
| global | spillov particular measur also implic | global | financi stabil prolong accommod would |
| global | set scene summar imf see | global | economi point major vulner risk |
| economi | scene summar imf see global | economi | point major vulner risk lie |
| polici | point major vulner risk lie | polici | challeng need address pay particular |
| need | vulner risk lie polici challeng | need | address pay particular attent capit |
| polici | exchang rate role unconvent monetari | polici | ward global tail risk tri |
| global | role unconvent monetari polici ward | global | tail risk tri explain monitor |
| global | tail risk tri explain monitor | global | liquid indic import link global |
| global | global liquid indic import link | global | asset price develop chang global |
| global | global asset price develop chang | global | liquid global econom prospectsalmost five |
| global | price develop chang global liquid | global | econom prospectsalmost five year sinc |
| econom | develop chang global liquid global | econom | prospectsalmost five year sinc collaps |
| global | sinc collaps lehman brother start | global | financi crisi global economi continu |
| global | brother start global financi crisi | global | economi continu feel aftershock policymak |
| economi | start global financi crisi global | economi | continu feel aftershock policymak continu |
| polici | feel aftershock policymak continu grappl | polici | respons start saw tail risk |
| global | start saw tail risk reced | global | economi thank polici action u |
| economi | saw tail risk reced global | economi | thank polici action u euro |
| polici | risk reced global economi thank | polici | action u euro area financi |
| market | action u euro area financi | market | condit improv mark across board |
| economi | board last half year real | economi | continu lag still see level |
| growth | continu lag still see level | growth | need drive real global recoveri |
| need | lag still see level growth | need | drive real global recoveri generat |
| global | level growth need drive real | global | recoveri generat job need million |
| need | real global recoveri generat job | need | million fallen unemploy past five |
| economi | latest imf forecast show world | economi | strengthen happen littl littl world |
| growth | strengthen happen littl littl world | growth | expect reach percent improv slight |
| global | real activ underscor downsid risk | global | growth instanc activ europ shrunk |
| growth | activ underscor downsid risk global | growth | instanc activ europ shrunk expect |
| polici | shrunk expect persist weak peripheri | polici | uncertainti increas affect confid core |
| global | continu sluggish come back broad | global | econom prospect signific diverg prospect |
| econom | sluggish come back broad global | econom | prospect signific diverg prospect across |
| countri | prospect signific diverg prospect across | countri | countri well particular among emerg |
| countri | signific diverg prospect across countri | countri | well particular among emerg develop |
| economi | well particular among emerg develop | economi | countri mend u sweden switzerland |
| countri | particular among emerg develop economi | countri | mend u sweden switzerland last |
| countri | mend u sweden switzerland last | countri | still way go includ euro |
| market | marketsfor past half decad emerg | market | develop economi led world recoveri |
| economi | half decad emerg market develop | economi | led world recoveri today two |
| market | respect year time mani emerg | market | recogn import unconvent monetari polici |
| polici | market recogn import unconvent monetari | polici | support demand contain risk advanc |
| countri | support demand contain risk advanc | countri | worri advers sideeffect policymak concern |
| growth | high asset price rapid credit | growth | return theme moment countri mendfirst |
| countri | credit growth return theme moment | countri | mendfirst let talk countri mend |
| countri | moment countri mendfirst let talk | countri | mend focus u modest growth |
| growth | countri mend focus u modest | growth | recoveri envisag percent percent privat |
| market | demand firm recent indic hous | market | encourag although growth year still |
| growth | indic hous market encourag although | growth | year still like strong enough |
| need | consolid equival percent gdp real | need | u help drive world demand |
| need | focus mediumterm adjust provid room | need | recoveri privat demand countri still |
| countri | room need recoveri privat demand | countri | still lagginga know recoveri seem |
| economi | know recoveri seem elud crucial | economi | import euro area forecast mild |
| growth | contract onequart percent year germani | growth | strengthen still like percent year |
| growth | still like percent year franc | growth | slight negat year spain itali |
| countri | much despit accomplish past year | countri | adjust includ structur reform measur |
| need | low interest rate translat credit | need | lift growth problem european financi |
| growth | rate translat credit need lift | growth | problem european financi system also |
| also | growth problem european financi system | also | requir collect solut includ bank |
| also | supervisori author deposit insur fund | also | need greater fiscal integr essenti |
| need | author deposit insur fund also | need | greater fiscal integr essenti europ |
| econom | declin meanwhil japan face generat | econom | stagnat good see countri forg |
| countri | generat econom stagnat good see | countri | forg new strategi japan new |
| economi | govern announc threeprong approach reviv | economi | higher inflat target aggress quantit |
| polici | aggress quantit eas flexibl fiscal | polici | structur reform rais longterm growth |
| growth | polici structur reform rais longterm | growth | immedi action includ set percent |
| growth | two year reflect forecast percent | growth | year percent japan new approach |
| also | unsustain debt road moreov key | also | proceed plan growthenhanc structur reform |
| polici | growthenhanc structur reform ensur complet | polici | packag succeed deliv last reflat |
| polici | succeed deliv last reflat macroeconom | polici | challengesth continu problem euro area |
| market | certain creat nearterm risk emerg | market | economi primari challeng relat econom |
| economi | creat nearterm risk emerg market | economi | primari challeng relat econom forc |
| econom | market economi primari challeng relat | econom | forc limit control includ weak |
| market | control includ weak demand tradit | market | manag pressur except loos monetari |
| polici | manag pressur except loos monetari | polici | advanc economi prepar period ahead |
| economi | except loos monetari polici advanc | economi | prepar period ahead condit normal |
| econom | unconvent monetari policyin period unpreced | econom | turmoil unconvent monetari polici help |
| polici | unpreced econom turmoil unconvent monetari | polici | help eas tail risk market |
| market | polici help eas tail risk | market | breakdown restor investor appetit risk |
| polici | flow perhap sinc unconvent monetari | polici | compar new instrument impact yet |
| polici | warn sign episod unconvent monetari | polici | also associ appreci emergingmarket currenc |
| also | sign episod unconvent monetari polici | also | associ appreci emergingmarket currenc howev |
| need | currenc howev result drag competit | need | balanc posit effect stronger advancedeconomi |
| global | well potenti termsoftrad gain higher | global | commod price better gaug impact |
| polici | better gaug impact unconvent monetari | polici | work various macroeconometr model work |
| polici | work suggest general unconvent monetari | polici | eas support sizabl output gain |
| economi | support sizabl output gain advanc | economi | emerg market howev emergingmarket countri |
| market | output gain advanc economi emerg | market | howev emergingmarket countri alreadi face |
| countri | economi emerg market howev emergingmarket | countri | alreadi face inflationari pressur scale |
| polici | pressur scale impuls repres sizabl | polici | challeng moreov countri exchang rate |
| countri | repres sizabl polici challeng moreov | countri | exchang rate allow appreci support |
| global | intern demand cost export implic | global | liquiditynow let us turn briefli |
| global | turn briefli main focus confer | global | liquid said start much focus |
| also | said start much focus issu | also | surpris lack consensus defin measur |
| financ | element definit appear center eas | financ | particular point time turn shape |
| polici | shape macroeconom environ stanc monetari | polici | financi regul factor guid action |
| market | financi regul factor guid action | market | particip factor includ pace financi |
| polici | get sens liquid condit includ | polici | rate well secur unsecur money |
| market | rate well secur unsecur money | market | swap bond market supplement price |
| market | unsecur money market swap bond | market | supplement price especi market may |
| market | bond market supplement price especi | market | may clear stabil concern aris |
| also | clear stabil concern aris attent | also | place quantitybas measur time turmoil |
| global | use look key quantit measur | global | liquid typic focus asset side |
| also | focus fund side balanc sheet | also | develop allow system classif particular |
| growth | system financi stabil perspect asset | growth | noncor fund particular use surveil |
| growth | signal potenti problem particular asset | growth | reflect crossbord credit extend bank |
| economi | indic convey inform potenti risktak | economi | also tell us extent global |
| also | convey inform potenti risktak economi | also | tell us extent global financi |
| global | economi also tell us extent | global | financi system prone sudden fund |
| growth | general observ rapid systemwid credit | growth | excess deposit fund implic noncor |
| global | associ accumul financi imbal context | global | liquid trend may global consequ |
| global | context global liquid trend may | global | consequ ongo imf research suggest |
| global | ongo imf research suggest rise | global | liquid tend boost emergingmarket asset |
| also | boost emergingmarket asset price howev | also | indic crosscountri impact chang noncor |
| global | financi innov largest procycl compon | global | liquid noncor shadow bank compon |
| global | noncor shadow bank compon howev | global | financi crisi result dramat collaps |
| market | elev avers risk freez collateralbas | market | forc shadow bank sharpli scale |
| polici | context key role unconvent monetari | polici | appear offset declin boost fund |
| market | direct support financi stabil specif | market | segment target liquid provis secur |
| market | liquid provis secur firm money | market | fund extens repo oper commerci |
| market | state outright purchas asset secur | market | program smp europ action help |
| global | contract shadow bank system protect | global | economi impact full collaps credit |
| economi | shadow bank system protect global | economi | impact full collaps credit far |
| global | provid littl evid return excess | global | liquid asset side crisi result |
| polici | yet conclusionso sum unconvent monetari | polici | measur advanc market support growth |
| market | unconvent monetari polici measur advanc | market | support growth rais import polici |
| growth | polici measur advanc market support | growth | rais import polici challeng countri |
| polici | market support growth rais import | polici | challeng countri receiv result capit |
| countri | growth rais import polici challeng | countri | receiv result capit inflow measur |
| global | capit inflow measur crucial ward | global | tail risk reduc output cost |
| global | tail risk reduc output cost | global | crisi reduc longterm interest rate |
| growth | reduc longterm interest rate spur | growth | avoid deflat restor function financi |
| market | avoid deflat restor function financi | market | spillov capit flow rais import |
| polici | spillov capit flow rais import | polici | challeng emerg market particular alreadi |
| market | rais import polici challeng emerg | market | particular alreadi face inflationari pressur |
| market | pressur higher asset price emerg | market | may unavoid consequ unconvent polici |
| polici | market may unavoid consequ unconvent | polici | import understand polici affect volatil |
| polici | consequ unconvent polici import understand | polici | affect volatil price well level |
| countri | volatil capit flow help recipi | countri | contain volatil exchang rate asset |
| polici | volatil exchang rate asset price | polici | maker emerg market manag transit |
| market | asset price polici maker emerg | market | manag transit rebuild monetari fiscal |
| polici | manag transit rebuild monetari fiscal | polici | space macroprudenti capit flow measur |
| polici | care analysi link unconvent monetari | polici | global liquid measur need similar |
| global | analysi link unconvent monetari polici | global | liquid measur need similar given |
| need | monetari polici global liquid measur | need | similar given impact unconvent monetari |
| polici | similar given impact unconvent monetari | polici | global asset price reason conjectur |
| global | given impact unconvent monetari polici | global | asset price reason conjectur might |
| polici | two phenomena relat unconvent monetari | polici | measur oper part global liquid |
| global | monetari polici measur oper part | global | liquid natur size impact need |
| need | global liquid natur size impact | need | better understood gaug altern transmiss |
| also | understood gaug altern transmiss channel | also | concern balancesheet repair complet previous |
| economi | welcom would upsid major advanc | economi | howev surg global liquid could |
| global | major advanc economi howev surg | global | liquid could complic policymak countri |
| countri | global liquid could complic policymak | countri | alreadi absorpt capac may present |
| countri | present challeng mainten financi stabil | countri | face larg volatil capit inflow |
| polici | next two day expert analysi | polici | experi shed light relat point |
| economi | question bad fiscal posit advanc | economi | may alreadi seen figur depict |
| economi | public debt gdp ratio advanc | economi | sinc ratio current percent close |
| also | second world war public debt | also | peak respect privat sector wealth |
| economi | world war four reason advanc | economi | howev equal troubl leav asid |
| countri | equal troubl leav asid smaller | countri | fiscal problem particular sever countri |
| countri | countri fiscal problem particular sever | countri | debt ratio high still rise |
| polici | percent world gdp happen fiscal | polici | major implic rest world let |
| countri | rest world let closer look | countri | figur show horizont axi increas |
| also | axi level deficit gdp ratio | also | sinc go show first advanc |
| economi | sinc go show first advanc | economi | economi start averag small surplus |
| economi | go show first advanc economi | economi | start averag small surplus deficit |
| countri | debt ratio contrast behavior ten | countri | averag deficit debt rise sharpli |
| countri | debt ratio sinc behavior individu | countri | clear belong differ class magnitud |
| countri | fiscal challeng face year ahead | countri | illustr standard longterm adjust scenario |
| need | scenario focus degre fiscal tighten | need | futur lower public debt current |
| countri | target percent gdp run scenario | countri | show result import recogn difficulti |
| need | horizont axi find first indic | need | improv primari balanc next seven |
| countri | see level primari balanc maintain | countri | repres set point singl point |
| growth | target percent assumpt interest rate | growth | key determin debt dynam legend |
| countri | tell exact assumpt scenario cross | countri | rank fair clear franc belgium |
| countri | balanc level percentag point gdp | countri | central challeng pack two except |
| need | vertic axi impli much adjust | need | higher level countri impli level |
| countri | much adjust need higher level | countri | impli level primari surplus need |
| need | countri impli level primari surplus | need | maintain mani year high japan |
| countri | clear outlier import differ across | countri | run larg fiscal surplus time |
| econom | effect high public debt longrun | econom | growth concern often link name |
| growth | high public debt longrun econom | growth | concern often link name carmen |
| growth | correl debt exceed percent low | growth | leav asid issu recent found |
| growth | first work take account correl | growth | debt run low growth high |
| growth | correl growth debt run low | growth | high debt vice versa second |
| growth | estim high public debt affect | growth | howev sever econometr studi focus |
| growth | econometr studi focus relationship debt | growth | one except panizza presbitero paper |
| growth | like goe high debt low | growth | without get much detail chart |
| growth | show negat relationship debt level | growth | note growth growth five year |
| growth | relationship debt level growth note | growth | growth five year follow debt |
| growth | debt level growth note growth | growth | five year follow debt level |
| growth | causal goe high debt low | growth | second reason worri high public |
| countri | selffulfil expect high high debt | countri | public debt high increas interest |
| countri | matter percept risk chart see | countri | deficit debt ratio countri repres |
| countri | see countri deficit debt ratio | countri | repres balloon whole size proport |
| countri | small balloon even high debt | countri | least necessari condit troubl cours |
| countri | troubl cours said high debt | countri | still enjoy record low interest |
| market | like us uk japan benign | market | attitud explain least part surg |
| countri | observ sinc figur show three | countri | surg base money inflationari match |
| financ | condit normal share public debt | financ | print money declin call exit |
| growth | expect take place context higher | growth | net impact differenti interest rate |
| growth | net impact differenti interest rate | growth | matter dynam debt ratio like |
| countri | thus put pressur high debt | countri | altogeth maintain public debt high |
| need | public debt bad exact high | need | bad thing happen urgenc case |
| economi | ten command fiscal adjust advanc | economi | intermedi one extrem posit let |
| growth | tighten much essenti enough shortterm | growth | cost tighten enough aris exampl |
| polici | total cost function minimum intermedi | polici | illustr chart let look close |
| growth | profligaci alreadi mention aris longterm | growth | effect high public debt risk |
| economi | three factor first past advanc | economi | use good time lower public |
| countri | expand tighten later alreadi danc | countri | promis tighten later suppos tighten |
| market | issu risk turmoil govern paper | market | countri surg interest rate due |
| countri | risk turmoil govern paper market | countri | surg interest rate due increas |
| countri | presenc high debt unlik event | countri | like unit state japan given |
| countri | interest rate sever effect particular | countri | like japan bank invest massiv |
| countri | moder pace cours take account | countri | alreadi market pressur risk fiscal |
| market | cours take account countri alreadi | market | pressur risk fiscal crisi cours |
| countri | call faster adjust given approach | countri | move appropri speed fiscal monitor |
| economi | reach first averag deficit advanc | economi | half percent gdp littl  |
| need | back chart show addit adjust | need | countri bring debt percent gdp |
| countri | chart show addit adjust need | countri | bring debt percent gdp challeng |
| countri | gdp challeng target answer look | countri | past realli tri lower debt |
| economi | lower debt ratio specif advanc | economi | look highest primari surplus sustain |
| also | distribut median  ¼ percent | also | look largest improv primari balanc |
| countri | primari balanc sevenyear period scenario | countri | still seven year ahead complet |
| countri | adjust follow threeyear period adjust | countri | alreadi adjust three year may |
| countri | area closer red difficult achiev | countri | left vertic line repres median |
| countri | addit requir adjust median achiev | countri | past realli tri hard imposs |
| countri | requir adjust best past perform | countri | howev median term primari surplus |
| countri | may turn lower assum scenario | countri | room reduc primari surplus without |
| need | conclud get debt ratio back | need | remain long process hope last |
| econom | year remind road develop polit | econom | often neither straight smooth mali |
| countri | secur crisi constitut crisi impact | countri | immedi sever humanitarian consequ conflict |
| econom | humanitarian consequ conflict north compound | econom | contract foreign financ declin sharpli |
| financ | north compound econom contract foreign | financ | declin sharpli fortun malian peopl |
| countri | forc prevail intern communiti came | countri | defens govern respond swift effect |
| econom | facil assist malian govern design | econom | framework facilit resumpt donor support |
| growth | reduct imf believ plan third | growth | poverti reduct strategi paper form |
| growth | poverti strategi right emphas sustain | growth | poverti reduct depend fiscal sustain |
| econom | strategi recogn privat sector engin | econom | growth generat employ healthi privat |
| growth | recogn privat sector engin econom | growth | generat employ healthi privat sector |
| econom | healthi privat sector requir favor | econom | busi environ includ effect judici |
| econom | new govern elect design mediumterm | econom | program support mali continu recoveri |
| financ | continu recoveri could receiv imf | financ | concession extend credit facil program |
| financ | thank mani donor present generous | financ | imf capacitybuild program year exact |
| econom | ago mali join imf sustain | econom | social progress well crise period |
| growth | crisi reposit path toward higher | growth | decis poverti reduct thank |
| also | courag commit end poverti pleas | also | see dear friend jim wolfensohn |
| global | issu like corrupt debt relief | global | agenda thank jim continu lend |
| global | five year earli moreov threespe | global | recoveri underway develop countri lead |
| countri | threespe global recoveri underway develop | countri | lead pack asia subsaharan africa |
| also | billion peopl live per day | also | number import enough ultim enrich |
| econom | role imf effort three messag | econom | stabil essenti poverti reduct growth |
| growth | econom stabil essenti poverti reduct | growth | equiti mutual reinforc necessari sustain |
| polici | mutual reinforc necessari sustain fiscal | polici | improv equiti lower poverti econom |
| econom | polici improv equiti lower poverti | econom | stabil essenti reduc povertyi begin |
| econom | reduc povertyi begin overrid import | econom | stabil learn output declin caus |
| econom | stabil learn output declin caus | econom | crise biggest sourc longlast welfar |
| countri | longlast welfar loss among develop | countri | reason first best contribut imf |
| countri | crise averag take year develop | countri | return precrisi per capita gdp |
| countri | output drop moreov issu develop | countri | unit state exampl per capita |
| global | percent lower would otherwis without | global | crisi job loss anoth huge |
| econom | million peopl still unemploy immens | econom | human cost first principl econom |
| econom | econom human cost first principl | econom | stabil paramount poverti reduct fund |
| polici | role clear help member build | polici | framework minim boom bust avoid |
| countri | bust avoid homemad crise strengthen | countri | resili face extern shock recent |
| countri | year step effort help lowincom | countri | cope crisi signific increas resourc |
| countri | signific increas resourc avail lowincom | countri | upgrad lend instrument crucial continu |
| growth | charg zero interest concession lend | growth | equiti mutual reinforc necessari stabilitylet |
| growth | necessari stabilitylet turn second point | growth | equiti talk preserv total size |
| econom | equiti talk preserv total size | econom | pie avoid crisi expand pie |
| countri | incom inequ increas advanc develop | countri | though start declin region gone |
| growth | quartil might mean social stabil | growth | imf start look close recent |
| growth | equal societi like achiev last | growth | equal good growth growth good |
| growth | achiev last growth equal good | growth | growth good equal may necessari |
| growth | last growth equal good growth | growth | good equal may necessari condit |
| polici | reduc inequ solid evid social | polici | target reduc poverti promot human |
| polici | inequ ten year period fiscal | polici | reduc povertythi bring third point |
| growth | point fund advanc kind inclus | growth | fiscal polici key good news |
| polici | advanc kind inclus growth fiscal | polici | key good news advanc economi |
| economi | polici key good news advanc | economi | fiscal polici play major role |
| polici | good news advanc economi fiscal | polici | play major role reduc inequ |
| countri | news impact declin sinc mani | countri | adopt reform reduc progress tax |
| countri | rate particular top bracket develop | countri | fiscal polici general less effect |
| polici | top bracket develop countri fiscal | polici | general less effect reduc incom |
| countri | lower sometim half level advanc | countri | addit tax system often less |
| polici | relianc indirect tax yet fiscal | polici | help divid pie fair revenu |
| polici | divid pie fair revenu side | polici | help build stronger reliabl revenu |
| global | poverti exclus exampl despit long | global | crisi twothird subsaharan african countri |
| countri | global crisi twothird subsaharan african | countri | abl expand public spend health |
| also | term reform energi general subsidi | also | critic energi subsidi repres us |
| global | trillion fiscal resourc worldwid percent | global | gdp develop countri much subsidi |
| countri | worldwid percent global gdp develop | countri | much subsidi benefit middl upper |
| countri | averag richest percent household develop | countri | captur percent total fuel product |
| econom | institut account go hand hand | econom | stabil sustain growth human develop |
| growth | hand hand econom stabil sustain | growth | human develop book nation fail |
| also | hous bed sand good govern | also | matter imf everchang world must |
| polici | work togeth right partnership right | polici | inde see end poverti generat |
| need | yunus said poverti gone ll | need | build museum display horror futur |
| econom | possibl peac chang work close | econom | leader g imf south africa |
| econom | communiti today would like discuss | econom | challeng face south africa world |
| growth | south africa world seek return | growth | near half decad crisi propos |
| market | crisi propos examin role emerg | market | develop countri time stress mani |
| countri | examin role emerg market develop | countri | time stress mani advanc economi |
| economi | countri time stress mani advanc | economi | d also like talk risk |
| also | stress mani advanc economi d | also | like talk risk countri like |
| countri | d also like talk risk | countri | like south africa face unconvent |
| polici | south africa face unconvent monetari | polici | employ combat crisi final go |
| econom | go address south africa domest | econom | challeng messag straightforward govern navig |
| countri | challeng despit polit obstacl import | countri | like south africa struggl achiev |
| growth | south africa struggl achiev level | growth | need meet aspir peopl slow |
| need | africa struggl achiev level growth | need | meet aspir peopl slow global |
| global | need meet aspir peopl slow | global | recoveryth imf recent forecast show |
| economi | imf recent forecast show world | economi | slowli strengthen still see growth |
| growth | economi slowli strengthen still see | growth | anywher near level crisi financi |
| market | anywher near level crisi financi | market | recov real economi continu lag |
| economi | crisi financi market recov real | economi | continu lag mani countri mean |
| countri | real economi continu lag mani | countri | mean enough growth generat job |
| growth | lag mani countri mean enough | growth | generat job million lost job |
| global | five year recent forecast see | global | growth percent year percent see |
| growth | year recent forecast see global | growth | percent year percent see threespe |
| global | percent year percent see threespe | global | recoveri need fullspe recoveri mean |
| need | percent see threespe global recoveri | need | fullspe recoveri mean strong sustain |
| growth | recoveri mean strong sustain balanc | growth | emerg market develop countri general |
| market | strong sustain balanc growth emerg | market | develop countri general well advanc |
| countri | balanc growth emerg market develop | countri | general well advanc economi show |
| economi | develop countri general well advanc | economi | show sign recoveri other still |
| growth | way go see europ return | growth | modest percent rate countri southern |
| countri | return growth modest percent rate | countri | southern europ remain mire deep |
| growth | europ remain mire deep recess | growth | weak among core economi bank |
| economi | recess growth weak among core | economi | bank system unabl provid muchneed |
| countri | unabl provid muchneed credit mani | countri | busi invest fall unemploy continu |
| polici | requir nation collect action fiscal | polici | crucial countri afford support economi |
| countri | collect action fiscal polici crucial | countri | afford support economi need way |
| economi | polici crucial countri afford support | economi | need way encourag privat sector |
| need | crucial countri afford support economi | need | way encourag privat sector invest |
| need | sector invest boost demand other | need | sustain commit adjust ensur sustain |
| financ | commit adjust ensur sustain public | financ | monetari polici european central bank |
| polici | ensur sustain public financ monetari | polici | european central bank protect monetari |
| need | omt monetari transmiss preserv scheme | need | done get credit channel function |
| also | may requir european bank unionther | also | need action bank union includ |
| need | requir european bank unionther also | need | action bank union includ bank |
| global | avoid slip stagnat would implic | global | economi least countri like south |
| economi | slip stagnat would implic global | economi | least countri like south africa |
| countri | would implic global economi least | countri | like south africa european market |
| market | countri like south africa european | market | import return point u recent |
| polici | one key recoveri unconvent monetari | polici | feder reserv put place crisi |
| polici | put place crisi subsequ reinforc | polici | mirror recent japan bank japan |
| polici | japan move aggress loosen monetari | polici | overcom deflat point unconvent monetari |
| polici | overcom deflat point unconvent monetari | polici | good global economi concern impact |
| global | point unconvent monetari polici good | global | economi concern impact go forward |
| economi | unconvent monetari polici good global | economi | concern impact go forward particular |
| market | impact go forward particular emerg | market | lot discuss impact flow money |
| economi | discuss impact flow money advanc | economi | asset price exchang rate valuat |
| also | sign asset bubbl caution justifi | also | import studi exit strategi even |
| market | ramp year away stay emerg | market | lowincom economi estim provid rough |
| economi | away stay emerg market lowincom | economi | estim provid rough threequart world |
| growth | estim provid rough threequart world | growth | sinc crisi strength emerg asian |
| economi | sinc crisi strength emerg asian | economi | vital import particular africa asia |
| global | region provid crucial dynam drive | global | demand howev countri like brazil |
| countri | dynam drive global demand howev | countri | like brazil south africa growth |
| growth | countri like brazil south africa | growth | slower suggest threespe construct may |
| growth | worri asia could slow india | growth | around percent year percent year |
| growth | china like see sustain doubledigit | growth | challeng rise africain decid mix |
| global | challeng rise africain decid mix | global | pictur subsaharan africa stand success |
| growth | year acceler percent year percent | growth | stronger oilexport lowincom countri middleincom |
| countri | percent growth stronger oilexport lowincom | countri | middleincom countri like south africa |
| countri | stronger oilexport lowincom countri middleincom | countri | like south africa neighbor grown |
| growth | greater depth mani know african | growth | support strong invest favor commod |
| countri | factor prudent macroeconom manag mani | countri | practic one africa impress achiev |
| global | risk africa outlook cours renew | global | downturn would primari worri especi |
| market | involv sharp drop demand emerg | market | impli commod price immedi inflat |
| countri | commod price immedi inflat fall | countri | rise price remain challeng countri |
| countri | countri rise price remain challeng | countri | revers contain fiscal expans also |
| also | countri revers contain fiscal expans | also | import certain everi countri guard |
| countri | expans also import certain everi | countri | guard shock anoth global slowdown |
| global | everi countri guard shock anoth | global | slowdown essenc prudent manag reason |
| countri | reason imf urg sever african | countri | rebuild fiscal buffer countri came |
| countri | african countri rebuild fiscal buffer | countri | came recess relat unscath part |
| econom | subsidi includ imf african region | econom | outlook releas friday longerterm perspect |
| growth | job creation two close relat | growth | need reduc unemploy requir real |
| need | creation two close relat growth | need | reduc unemploy requir real progress |
| also | creat disincent invest commod boom | also | highlight need better manag revenu |
| need | invest commod boom also highlight | need | better manag revenu come natur |
| countri | manag revenu come natur resourc | countri | tap new resourc deposit crucial |
| countri | new resourc deposit crucial issu | countri | avoid resourc curs area imf |
| countri | imf focus technic assist help | countri | truli benefit natur bounti south |
| market | subsaharan africa success number two | market | countri good europ countri north |
| countri | africa success number two market | countri | good europ countri north account |
| countri | two market countri good europ | countri | north account percent export account |
| market | soon becom south africa biggest | market | manufactur good top countri expand |
| countri | biggest market manufactur good top | countri | expand role region transport hub |
| also | invest region south african compani | also | rise sharpli stock south african |
| countri | rest africa equal approxim percent | countri | gdp percent global financi crisi |
| global | approxim percent countri gdp percent | global | financi crisi broad crosssect corpor |
| growth | financi servic throughout africa african | growth | offset continu weak global demand |
| global | african growth offset continu weak | global | demand domest factor restrain countri |
| countri | global demand domest factor restrain | countri | growth south africa outlook subdu |
| growth | demand domest factor restrain countri | growth | south africa outlook subdu like |
| growth | subdu like remain real gdp | growth | averag percent fall percent meanwhil |
| also | china recent exchang rate depreci | also | help public infrastructur invest much |
| market | expect renew downturn europ emerg | market | would caus concern similar weaker |
| economi | weaker commod price would drag | economi | backdrop south africa need reli |
| need | drag economi backdrop south africa | need | reli sustain domest sourc growth |
| growth | need reli sustain domest sourc | growth | without exacerb vulner point ll |
| also | ll return moment capit flow | also | enter pictur south africa benefit |
| market | africa benefit flow capit emerg | market | recent year tribut countri financi |
| countri | emerg market recent year tribut | countri | financi open sum extern asset |
| need | gdp south africa open high | need | extern financ expos countri risk |
| financ | africa open high need extern | financ | expos countri risk capit outflow |
| countri | high need extern financ expos | countri | risk capit outflow sudden outbreak |
| global | risk capit outflow sudden outbreak | global | risk avers market turbul could |
| market | sudden outbreak global risk avers | market | turbul could trigger unwelcom turn |
| financ | unwelcom turn event would make | financ | countri twin deficit budget current |
| countri | turn event would make financ | countri | twin deficit budget current account |
| economi | homegrown issuesthat homegrown issu face | economi | come play employ low especi |
| growth | african unemploy time real wage | growth | outstrip product growth south africa |
| growth | real wage growth outstrip product | growth | south africa competit problem manifest |
| growth | trade deficit even backdrop weak | growth | power transport bottleneck drag economi |
| economi | growth power transport bottleneck drag | economi | despit strong corpor perform depress |
| market | privat invest rigid labor product | market | underli mani problem collect bargain |
| need | mani problem collect bargain system | need | serv interest entir popul insid |
| market | interest entir popul insid product | market | also need see greater competit |
| also | entir popul insid product market | also | need see greater competit turn |
| need | popul insid product market also | need | see greater competit turn would |
| also | small mediums enterpris reform would | also | bring lower price provid greater |
| econom | impass south africa fortun capabl | econom | manag need maintain prudent macroeconom |
| need | africa fortun capabl econom manag | need | maintain prudent macroeconom polici creat |
| polici | manag need maintain prudent macroeconom | polici | creat econom climat conduc growth |
| econom | maintain prudent macroeconom polici creat | econom | climat conduc growth job creation |
| growth | polici creat econom climat conduc | growth | job creation time mediumterm strategi |
| polici | fiscal buffer reduc extern vulner | polici | provid space implement reform need |
| need | polici provid space implement reform | need | increas growth employ govern nation |
| growth | space implement reform need increas | growth | employ govern nation develop plan |
| need | action ndp say south africa | need | fix futur start today failur |
| growth | address structur problem would weaken | growth | prospect hamper effort reduc unemploy |
| also | effort reduc unemploy inequ could | also | trigger declin confid pullback capit |
| growth | long run failur deliv inclus | growth | pose risk social stabil structur |
| economi | analysi help address problem unleash | economi | full capabl member g largest |
| economi | full capabl member g largest | economi | subsaharan africa countri role play |
| countri | g largest economi subsaharan africa | countri | role play ensur global econom |
| global | africa countri role play ensur | global | econom stabil contribut sustain balanc |
| econom | countri role play ensur global | econom | stabil contribut sustain balanc growth |
| growth | econom stabil contribut sustain balanc | growth | address problem south africa made |
| econom | south africa made great stride | econom | social develop sinc end apartheid |
| growth | level reduc poverti imper generat | growth | necessari creat million job need |
| need | growth necessari creat million job | need | reduc unemploy absorb new entrant |
| countri | entir popul continu build inclus | countri | proud exampl intern communiti |
| countri | progress mozambiqu made recent year | countri | one mani subsaharan africa well |
| global | subsaharan africa well time pessim | global | economi continu uncertainti threaten mani |
| economi | africa well time pessim global | economi | continu uncertainti threaten mani advanc |
| economi | continu uncertainti threaten mani advanc | economi | africa begin deliv econom potenti |
| econom | advanc economi africa begin deliv | econom | potenti solid growth improv live |
| growth | begin deliv econom potenti solid | growth | improv live peopl focus remark |
| global | today around three theme first | global | econom outlook second subsaharan africa |
| econom | around three theme first global | econom | outlook second subsaharan africa stand |
| global | huge biggest challeng seiz opportun | global | growth forecastlet begin global economi |
| growth | biggest challeng seiz opportun global | growth | forecastlet begin global economi recent |
| global | opportun global growth forecastlet begin | global | economi recent imf outlook releas |
| economi | global growth forecastlet begin global | economi | recent imf outlook releas week |
| global | outlook releas week ago show | global | economi slowli regain strength forecast |
| economi | releas week ago show global | economi | slowli regain strength forecast gradual |
| growth | forecast gradual recoveri year percent | growth | percent enough job growth anem |
| growth | percent growth percent enough job | growth | anem unemploy advanc economi remain |
| economi | job growth anem unemploy advanc | economi | remain alarm level see signific |
| countri | level see signific dispar across | countri | region threespe recoveri countri well |
| countri | across countri region threespe recoveri | countri | well particular emerg market develop |
| market | recoveri countri well particular emerg | market | develop economi other unit state |
| economi | well particular emerg market develop | economi | other unit state mend final |
| need | center euro area japan work | need | chang global economi attain fullspe |
| global | area japan work need chang | global | economi attain fullspe recoveri europ |
| economi | japan work need chang global | economi | attain fullspe recoveri europ need |
| need | economi attain fullspe recoveri europ | need | return role engin global growth |
| global | europ need return role engin | global | growth particular develop economi like |
| growth | need return role engin global | growth | particular develop economi like see |
| economi | engin global growth particular develop | economi | like see continu european recess |
| growth | continu european recess year modest | growth | percent return euro area biggest |
| countri | biggest problem southern europ sever | countri | struggl deep recess growth also |
| growth | sever countri struggl deep recess | growth | also weak core economi germani |
| also | countri struggl deep recess growth | also | weak core economi germani franc |
| economi | recess growth also weak core | economi | germani franc among other europ |
| countri | unemploy soar pass percent crisi | countri | great deal done nation level |
| growth | problem situat somewhat better u | growth | rebound percent year percent cut |
| global | momentum recoveri develop won help | global | recoveri short run howev continu |
| economi | rate help fuel u world | economi | emerg market develop economi given |
| market | fuel u world economi emerg | market | develop economi given life global |
| economi | world economi emerg market develop | economi | given life global economi provid |
| global | market develop economi given life | global | economi provid estim threequart growth |
| economi | develop economi given life global | economi | provid estim threequart growth sinc |
| growth | global economi provid estim threequart | growth | sinc financi crisi hit project |
| countri | financi crisi hit project acceler | countri | percent growth percent year benefit |
| growth | hit project acceler countri percent | growth | percent year benefit low global |
| global | growth percent year benefit low | global | interest rate high commod price |
| market | good flow direct howev emerg | market | countri exampl brazil south africa |
| countri | flow direct howev emerg market | countri | exampl brazil south africa grow |
| global | concern contin would hard hit | global | financi crisi impact countri subsaharan |
| countri | hit global financi crisi impact | countri | subsaharan africa remark resili notabl |
| countri | africa remark resili notabl lowincom | countri | growth robust percent acceler moder |
| growth | remark resili notabl lowincom countri | growth | robust percent acceler moder come |
| growth | moder come year project percent | growth | percent next year lowincom countri |
| countri | growth percent next year lowincom | countri | grow even faster benefit rise |
| growth | demand africa commod help spur | growth | particular new resourc discov develop |
| growth | discov develop subsaharan africa resili | growth | simpli matter rise commod export |
| economi | rise commod export fact fastestgrow | economi | natur resourc export econom perform |
| econom | fastestgrow economi natur resourc export | econom | perform reflect mani polit social |
| econom | perform reflect mani polit social | econom | chang past generat import new |
| market | mani govern gave greater role | market | forc economi strengthen econom stabil |
| economi | gave greater role market forc | economi | strengthen econom stabil rise educ |
| econom | role market forc economi strengthen | econom | stabil rise educ standard young |
| econom | popul increas take advantag new | econom | opportun inform technolog comput phone |
| global | increas bridg geograph distanc africa | global | economi within countri technolog rapid |
| economi | bridg geograph distanc africa global | economi | within countri technolog rapid bring |
| countri | distanc africa global economi within | countri | technolog rapid bring servic unavail |
| polici | governancemost import new generat african | polici | maker understand address challeng countri |
| countri | polici maker understand address challeng | countri | face build framework effect econom |
| econom | countri face build framework effect | econom | polici foundat stronger institut improv |
| polici | face build framework effect econom | polici | foundat stronger institut improv govern |
| polici | environ busi flourish prudent monetari | polici | reduc inflat enabl buildup foreign |
| polici | code encourag invest good fiscal | polici | coupl comprehens debt relief produc |
| countri | debt creat buffer allow mani | countri | subsaharan africa cushion economi extern |
| economi | mani countri subsaharan africa cushion | economi | extern intern shock crisi hit |
| countri | crisi hit abl respond mani | countri | abl maintain even increas social |
| also | vulner downturn financi sector develop | also | import part stori across contin |
| countri | servic includ panafrican bank group | countri | financi sector remain robust africa |
| also | financi sector remain robust africa | also | attract new sourc financ sever |
| financ | africa also attract new sourc | financ | sever countri issu sovereign bond |
| countri | attract new sourc financ sever | countri | issu sovereign bond favor term |
| global | recent month part reflect low | global | interest rate also reflect invest |
| also | reflect low global interest rate | also | reflect invest opportun africa offer |
| countri | sector remain shallow mani lowincom | countri | access notabl small mediums enterpris |
| countri | indic crucial come year mani | countri | contin also remain expos market |
| also | come year mani countri contin | also | remain expos market volatil especi |
| market | countri contin also remain expos | market | volatil especi commod price capit |
| global | capit flow notori fickl integr | global | economi increas benefit risk also |
| economi | flow notori fickl integr global | economi | increas benefit risk also increas |
| also | global economi increas benefit risk | also | increas problem mind imf recommend |
| countri | mind imf recommend subsaharan africa | countri | start rebuild reserv guard potenti |
| polici | spend wise reform poor target | polici | replac cost energi subsidi measur |
| also | mobil broaden tax base region | also | need deepen engag global economi |
| need | broaden tax base region also | need | deepen engag global economi africa |
| global | region also need deepen engag | global | economi africa link emerg economi |
| economi | also need deepen engag global | economi | africa link emerg economi repres |
| economi | global economi africa link emerg | economi | repres import new dynam tie |
| also | new dynam tie continu develop | also | encompass mani middleincom economi make |
| economi | develop also encompass mani middleincom | economi | make presenc felt includ sever |
| countri | presenc felt includ sever africa | countri | continu grow diversifi help drive |
| economi | converg lift live standard african | economi | continu push improv market access |
| market | african economi continu push improv | market | access advanc economi also strengthen |
| economi | push improv market access advanc | economi | also strengthen trade invest link |
| also | improv market access advanc economi | also | strengthen trade invest link develop |
| economi | strengthen trade invest link develop | economi | mozambiqu twenti year successlet turn |
| countri | twenti year successlet turn mozambiqu | countri | undeni one africa best perform |
| economi | africa best perform one fastestgrow | economi | world growth reach percent like |
| growth | perform one fastestgrow economi world | growth | reach percent like remain percent |
| countri | percent year like mani develop | countri | mozambiqu manag offset weak demand |
| market | euro area grow link emerg | market | economi countri achiev remark come |
| economi | area grow link emerg market | economi | countri achiev remark come despit |
| countri | grow link emerg market economi | countri | achiev remark come despit year |
| economi | sever flood human impact devast | economi | manag avoid worst even though |
| polici | mozambiqu success clear illustr sound | polici | work let put thing perspect |
| countri | manag invest even massiv corrupt | countri | possibl avoid resourc curs reap |
| polici | experi suggest crucial establish appropri | polici | framework institut earli stage transform |
| need | resourc product asset huge invest | need | develop resourc need manag care |
| need | huge invest need develop resourc | need | manag care transpar ensur new |
| also | debt use product remain sustain | also | import compil highqual statist develop |
| polici | develop strong analyt expertis guid | polici | decis increas complex environ call |
| countri | imf work close mani african | countri | issu pleas alreadi provid technic |
| also | revenu without discourag privat invest | also | assist strengthen public financi manag |
| econom | manag mozambiqu natur resourc boost | econom | growth growth alon enough challeng |
| growth | mozambiqu natur resourc boost econom | growth | growth alon enough challeng lift |
| growth | natur resourc boost econom growth | growth | alon enough challeng lift peopl |
| countri | live easi task lesson learn | countri | manag reduc poverti reduc inequ |
| countri | imf fulli commit work african | countri | help strengthen economi realiz full |
| economi | work african countri help strengthen | economi | realiz full potenti provid polici |
| polici | economi realiz full potenti provid | polici | advic technic assist train necessari |
| also | center open soon ghana imf | also | introduc chang lend polici provid |
| polici | imf also introduc chang lend | polici | provid financ arrang better tailor |
| financ | introduc chang lend polici provid | financ | arrang better tailor need member |
| need | provid financ arrang better tailor | need | member past year introduc new |
| countri | introduc new lend instrument lowincom | countri | rais amount financ avail also |
| financ | instrument lowincom countri rais amount | financ | avail also extend zero interest |
| also | countri rais amount financ avail | also | extend zero interest rate concession |
| countri | rate concession loan next year | countri | need financi assist conclusionin summari |
| need | concession loan next year countri | need | financi assist conclusionin summari mozambiqu |
| countri | conclusionin summari mozambiqu like mani | countri | africa still face formid challeng |
| global | take advantag new opportun home | global | economi imf stand readi assist |
| economi | advantag new opportun home global | economi | imf stand readi assist mozambiqu |
| economi | discuss relev topic mani asian | economi | know volatil intern food oil |
| also | great sinc driven suppli shock | also | larg swing world output peak |
| global | five time higher begin aftermath | global | financi crisi fuel food price |
| economi | region especi case emerg develop | economi | commod sizabl share consum price |
| also | surg food energi price may | also | foster expect rise inflat could |
| market | secondround effect tend larger emerg | market | typic monetari polici respons commod |
| polici | larger emerg market typic monetari | polici | respons commod price shock accommod |
| countri | larger persist past mani lowincom | countri | food price shock persist nonfood |
| polici | nonfood price shock complic monetari | polici | respons addit attempt stabil inflat |
| polici | respons addit attempt stabil inflat | polici | rate hike could also exacerb |
| also | inflat polici rate hike could | also | exacerb output cost shock howev |
| polici | shock howev factor affect effect | polici | respons commod price increas mention |
| polici | first exchang rate adjust influenc | polici | respons net import commod may |
| polici | induc asian central bank keep | polici | rate low even commod price |
| polici | core inflat pressur began surfac | polici | respons commod price shock also |
| also | polici respons commod price shock | also | depend monetari polici framework adopt |
| polici | price shock also depend monetari | polici | framework adopt sever central bank |
| polici | chosen inflat main object monetari | polici | formal adopt inflat target framework |
| economi | credit contribut inflat stabil mani | economi | worldwid howev aftermath global financi |
| global | mani economi worldwid howev aftermath | global | financi crisi economist includ imf |
| also | central bank whether explicit mandat | also | includ financi stabil possibl pursu |
| polici | stabil possibl pursu complementari macroprudenti | polici | debat ongo anoth debat question |
| market | import issu face region emerg | market | except loos monetari polici advanc |
| polici | emerg market except loos monetari | polici | advanc economi affect exchang rate |
| economi | except loos monetari polici advanc | economi | affect exchang rate generat capit |
| growth | higher asset price rapid credit | growth | appropri polici respons includ need |
| polici | price rapid credit growth appropri | polici | respons includ need macroprudenti complementari |
| need | growth appropri polici respons includ | need | macroprudenti complementari capit flow manag |
| countri | india feder play import role | countri | emerg onto world stage first |
| economi | first independ nation recent lead | economi | congratul distinguish histori pleas abl |
| global | pleas abl meet topic remark | global | econom prospect implic india encompass |
| econom | abl meet topic remark global | econom | prospect implic india encompass crucial |
| economi | encompass crucial issu face world | economi | india time difficult transit near |
| global | mani challeng audienc certain know | global | economi continu feel aftershock crisi |
| economi | challeng audienc certain know global | economi | continu feel aftershock crisi particular |
| polici | feel aftershock crisi particular europ | polici | challeng import new delhi brussel |
| econom | beij washington propos today discuss | econom | outlook come year begin broad |
| countri | view india prospect perspect challeng | countri | face imf forecast show world |
| economi | face imf forecast show world | economi | strengthen still see growth need |
| growth | world economi strengthen still see | growth | need drive sustain global rebound |
| need | economi strengthen still see growth | need | drive sustain global rebound financi |
| global | see growth need drive sustain | global | rebound financi market recov real |
| market | drive sustain global rebound financi | market | recov real economi continu lag |
| economi | rebound financi market recov real | economi | continu lag mean enough growth |
| growth | economi continu lag mean enough | growth | generat job million fallen unemploy |
| growth | fallen unemploy past five year | growth | forecastworld growth percent middl forecast |
| growth | past five year growth forecastworld | growth | percent middl forecast gradual strengthen |
| global | year percent optimist project percent | global | growth improv mask signific dispar |
| growth | percent optimist project percent global | growth | improv mask signific dispar experienc |
| countri | signific dispar experienc threespe recoveri | countri | well particular emerg develop economi |
| economi | countri well particular emerg develop | economi | countri mend final countri still |
| countri | well particular emerg develop economi | countri | mend final countri still distanc |
| countri | develop economi countri mend final | countri | still distanc travel includ euro |
| countri | us examin group turn begin | countri | mend import countri u project |
| countri | turn begin countri mend import | countri | u project growth close percent |
| growth | mend import countri u project | growth | close percent percent feder reserv |
| polici | close percent percent feder reserv | polici | quantit eas help boost privat |
| growth | help boost privat demand u | growth | still strong enough signific impact |
| growth | enough signific impact unemploy moreov | growth | achiev despit strong fiscal consolid |
| global | encourag longerterm fiscal consolid u | global | perspect one question whether much |
| need | question whether much soon real | need | u help drive world demand |
| need | focus mediumterm adjust provid room | need | recoveri privat demand u role |
| countri | role becom import consid group | countri | struggl return growth focus europ |
| growth | consid group countri struggl return | growth | focus europ crisi affect euro |
| growth | euro area continu depress european | growth | forecast contract onequart percent year |
| countri | part difficult adjust europ crisi | countri | call intern devalu refer effort |
| countri | central bank lack currenc devalu | countri | adjust includ structur reform measur |
| also | supervisori author deposit insur fund | also | need greater fiscal integr essenti |
| need | author deposit insur fund also | need | greater fiscal integr essenti europ |
| econom | japan contrast take action generat | econom | stagnat mani know japan new |
| econom | governor announc radic differ approach | econom | revit base fiscal stimulus aggress |
| growth | quantit eas reflect forecast percent | growth | year stronger japan essenti world |
| economi | year stronger japan essenti world | economi | need growth stabil import see |
| need | stronger japan essenti world economi | need | growth stabil import see new |
| growth | japan essenti world economi need | growth | stabil import see new govern |
| growth | set credibl path sustain higher | growth | lower public debt emerg economi |
| economi | growth lower public debt emerg | economi | drive global growthnow let turn |
| global | public debt emerg economi drive | global | growthnow let turn emerg market |
| market | global growthnow let turn emerg | market | develop economi generat consider portion |
| economi | let turn emerg market develop | economi | generat consider portion global growth |
| global | develop economi generat consider portion | global | growth group includ asia includ |
| growth | economi generat consider portion global | growth | group includ asia includ india |
| also | includ asia includ india china | also | brazil russia mani economi project |
| economi | china also brazil russia mani | economi | project emerg market develop countri |
| market | russia mani economi project emerg | market | develop countri see growth acceler |
| countri | economi project emerg market develop | countri | see growth acceler percent growth |
| growth | emerg market develop countri see | growth | acceler percent growth first half |
| growth | countri see growth acceler percent | growth | first half near percent next |
| market | transit arab spring overal emerg | market | develop countri benefit low interest |
| countri | spring overal emerg market develop | countri | benefit low interest rate high |
| global | greater detail region engin room | global | growth sinc asia saw relat |
| growth | detail region engin room global | growth | sinc asia saw relat subdu |
| econom | sinc asia saw relat subdu | econom | perform growth pick project region |
| growth | saw relat subdu econom perform | growth | pick project region growth reach |
| growth | perform growth pick project region | growth | reach  ¾ percent year |
| growth | asia grow percent bit drive | growth | robust domest demand modest strengthen |
| polici | privat invest support accommod monetari | polici | increas capit flow rapid credit |
| growth | increas capit flow rapid credit | growth | favor labor market condit grow |
| market | rapid credit growth favor labor | market | condit grow intraregion trade also |
| also | market condit grow intraregion trade | also | posit factor expect inflat remain |
| growth | capit region prospect higher asian | growth | like serv potent pull factor |
| also | like serv potent pull factor | also | expect portfolio invest boost privat |
| growth | rais asset price boost credit | growth | emerg asia increas percent gdp |
| growth | ½ percentag point privat consumpt | growth | three four quarter also mean |
| also | consumpt growth three four quarter | also | mean  ½ percentag point |
| growth | ½ percentag point increas invest | growth | challeng policymak face longer term |
| countri | outlook import take moment remind | countri | extraordinari achiev well known world |
| growth | emerg world class industri rapid | growth | export develop sophist financi sector |
| global | financi sector india strong voic | global | discuss mani key issu includ |
| also | user million mobil phone subscrib | also | govern plan gradual implement direct |
| growth | reform india undergon year rapid | growth | regulatori chang signific exampl govern |
| countri | help environ chang never easi | countri | sometim democrat process make process |
| growth | serv backdrop issu behind current | growth | outlook sens india immedi prospect |
| countri | speed recoveri may adequ describ | countri | experi abroad india fit comfort |
| countri | abroad india fit comfort categori | countri | well growth strong advanc countri |
| growth | fit comfort categori countri well | growth | strong advanc countri standard know |
| countri | countri well growth strong advanc | countri | standard know discuss center slowdown |
| growth | consumpt export forecast india see | growth | percent fiscal year percent meanwhil |
| growth | scale back forecast potenti gdp | growth | estim india grow  ¼ |
| global | year ago three explan slowdown | global | economi cyclic polici structur bottleneck |
| economi | ago three explan slowdown global | economi | cyclic polici structur bottleneck probabl |
| polici | explan slowdown global economi cyclic | polici | structur bottleneck probabl contribut said |
| global | structur bottleneck probabl contribut said | global | recoveri slow uncertain less demand |
| countri | explain slowdown imf examin individu | countri | affect slower growth among trade |
| growth | examin individu countri affect slower | growth | among trade partner found indian |
| growth | among trade partner found indian | growth | slow explain impact abroad economi |
| economi | growth slow explain impact abroad | economi | certain affect slower growth export |
| growth | abroad economi certain affect slower | growth | export market even import factor |
| market | certain affect slower growth export | market | even import factor financi contagion |
| economi | dri equiti price fell indian | economi | paid price happen time trade |
| polici | channel fulli explain slowdown cyclic | polici | rbi tighten monetari polici budget |
| polici | cyclic polici rbi tighten monetari | polici | budget deficit come nomin interest |
| growth | demand stimulus withdrawn gradual ad | growth | slowdown big explain fiscal consolid |
| need | capac constraint new issu india | need | infrastructur invest obvious drive citi |
| need | take commut train mumbai electr | need | new factori chennai invest new |
| economi | energi fallen speed limit indian | economi | come get back percent growth |
| growth | economi come get back percent | growth | requir address invest problem mean |
| economi | reform process start negat impact | economi | also extern ramif capac constraint |
| also | process start negat impact economi | also | extern ramif capac constraint mean |
| need | import see clear coal india | need | increas power generat distribut need |
| need | need increas power generat distribut | need | make better use larg coal |
| financ | payment progress stay exampl coal | financ | minist open door possibl publicpriv |
| need | invest speed project approv approv | need | acceler promis harmon domest import |
| market | new invest project simpler labor | market | regul would allow worker move |
| growth | structur reform would help bring | growth | back precrisi level role imfth |
| polici | call play central address mani | polici | challeng outlin speech charg analyz |
| global | outlin speech charg analyz risk | global | stabil advis member countri polici |
| countri | risk global stabil advis member | countri | polici need ensur futur crise |
| polici | global stabil advis member countri | polici | need ensur futur crise emerg |
| need | stabil advis member countri polici | need | ensur futur crise emerg exampl |
| polici | emerg exampl work develop monitor | polici | help tackl impact volatil capit |
| also | tackl impact volatil capit flow | also | work deepen effect polici regul |
| polici | flow also work deepen effect | polici | regul supervis financi sector also |
| also | polici regul supervis financi sector | also | respons work member countri advis |
| countri | sector also respons work member | countri | advis effect econom polici balanc |
| econom | work member countri advis effect | econom | polici balanc need growth imper |
| polici | member countri advis effect econom | polici | balanc need growth imper reduc |
| need | advis effect econom polici balanc | need | growth imper reduc fiscal financi |
| growth | effect econom polici balanc need | growth | imper reduc fiscal financi privat |
| countri | financi privat balanc sheet risk | countri | crisi fund continu provid financ |
| financ | countri crisi fund continu provid | financ | combin welldesign reform program design |
| growth | reform program design restor stabil | growth | quick fortun year sinc ask |
| countri | ask play role india tribut | countri | strong polici fund advisori role |
| polici | role india tribut countri strong | polici | fund advisori role remain central |
| global | india make way address challeng | global | economi particular ongo european crisi |
| economi | make way address challeng global | economi | particular ongo european crisi believ |
| economi | india continu prosper essenti world | economi | return growth stabil near futur |
| growth | prosper essenti world economi return | growth | stabil near futur essenti india |
| growth | india continu play role generat | growth | help attain goal |
| also | sought foster mutual understand cooper | also | given japanes art import place |
| global | gratitud societi invit topic remark | global | prospect polici challeng topic encompass |
| polici | invit topic remark global prospect | polici | challeng topic encompass import econom |
| econom | polici challeng topic encompass import | econom | issu time near five year |
| global | sinc recess audienc certain know | global | economi continu feel aftershock crisi |
| economi | recess audienc certain know global | economi | continu feel aftershock crisi policymak |
| polici | aftershock crisi policymak continu grappl | polici | respons europ washington emerg market |
| market | polici respons europ washington emerg | market | economi certain tokyo inde japan |
| economi | respons europ washington emerg market | economi | certain tokyo inde japan one |
| countri | certain tokyo inde japan one | countri | whose perform crucial restor world |
| economi | whose perform crucial restor world | economi | health return topic speech global |
| global | economi health return topic speech | global | econom prospectslet us begin econom |
| econom | health return topic speech global | econom | prospectslet us begin econom outlook |
| econom | global econom prospectslet us begin | econom | outlook global economi enter reced |
| global | prospectslet us begin econom outlook | global | economi enter reced tail risk |
| economi | us begin econom outlook global | economi | enter reced tail risk thank |
| polici | enter reced tail risk thank | polici | action avert u fiscal cliff |
| market | escal euro area crisi financi | market | condit mark across board last |
| economi | board last half year real | economi | continu lag still see level |
| growth | continu lag still see level | growth | need drive real global rebound |
| need | lag still see level growth | need | drive real global rebound mani |
| global | level growth need drive real | global | rebound mani risk remain mean |
| growth | mani risk remain mean enough | growth | generat job million fallen unemploy |
| economi | latest imf forecast show world | economi | strengthen gradual world growth expect |
| growth | world economi strengthen gradual world | growth | expect reach percent optimist percent |
| countri | mask signific diverg prospect across | countri | henc new label threespe global |
| global | countri henc new label threespe | global | recoveri countri well particular emerg |
| countri | new label threespe global recoveri | countri | well particular emerg develop economi |
| economi | countri well particular emerg develop | economi | countri mend u final countri |
| countri | well particular emerg develop economi | countri | mend u final countri still |
| countri | economi countri mend u final | countri | still distanc travel includ euro |
| market | area japan activ strong emerg | market | develop economi past half decad |
| economi | activ strong emerg market develop | economi | past half decad emerg market |
| market | economi past half decad emerg | market | develop economi led world recoveri |
| economi | half decad emerg market develop | economi | led world recoveri account remark |
| global | world recoveri account remark threequart | global | growth slight slowdown last year |
| growth | recoveri account remark threequart global | growth | slight slowdown last year bounc |
| countri | challeng notabl polit transit sever | countri | face arab spring time mani |
| market | arab spring time mani emerg | market | look advanc countri serious concern |
| countri | mani emerg market look advanc | countri | serious concern mani worri potenti |
| polici | potenti fallout except loos monetari | polici | especi unconvent eas policymak worri |
| polici | policymak worri except loos monetari | polici | affect exchang rate capit flow |
| growth | high asset price rapid credit | growth | right risk appear control must |
| market | alert warn sign corpor emerg | market | exampl take debt foreign exchang |
| countri | percent asia worth note lowincom | countri | especi asia africa frontier economi |
| economi | countri especi asia africa frontier | economi | experienc higher growth sinc year |
| growth | africa frontier economi experienc higher | growth | sinc year lead crisi economi |
| economi | growth sinc year lead crisi | economi | benefit high commod price invest |
| market | commod price invest flow emerg | market | countri good harvest rise demand |
| countri | price invest flow emerg market | countri | good harvest rise demand busi |
| polici | might caus credit boom overh | polici | maker lowincom countri good job |
| countri | boom overh polici maker lowincom | countri | good job manag pressur help |
| global | job manag pressur help absenc | global | inflat advanc economi mend notabl |
| economi | help absenc global inflat advanc | economi | mend notabl u also other |
| also | advanc economi mend notabl u | also | other sweden switzerland u balanc |
| growth | sheet hous price improv credit | growth | pick bank lend condit eas |
| growth | bank lend condit eas modest | growth | recoveri envisag percent percent privat |
| growth | percent privat demand firm although | growth | year still strong enough signific |
| need | mediumterm roadmap remain lack balanc | need | right would help u break |
| growth | help u break free weak | growth | recent year recoveri remain elus |
| economi | recent year recoveri remain elus | economi | includ euro area japan crisi |
| growth | southern europ continu depress eu | growth | forecast mild contract onequart percent |
| countri | euro area weak extend core | countri | germani growth strengthen still forecast |
| growth | weak extend core countri germani | growth | strengthen still forecast percent year |
| growth | still forecast percent year franc | growth | slight negat year reflect combin |
| polici | fiscal consolid euro area monetari | polici | like remain high accommod light |
| need | particular hard even outsid peripheri | need | shrink balanc sheet reduc relianc |
| countri | part difficult adjust europ peripheri | countri | call intern devalu refer effort |
| countri | central bank lack currenc devalu | countri | adjust includ structur reform process |
| countri | intern devalu slowli take place | countri | slowli becom competit measur far |
| countri | lack credit drive invest unemploy | countri | exceed percent huge overhang european |
| econom | three half rather threespe recoveri | econom | sluggish last decad long japanes |
| growth | year grown know noth almostzero | growth | good see japan forg new |
| economi | radic differ threeprong approach reviv | economi | higher inflat target aggress quantit |
| polici | aggress quantit eas flexibl fiscal | polici | structur reform rais longterm growth |
| growth | polici structur reform rais longterm | growth | immedi action includ set percent |
| growth | two year reflect forecast percent | growth | year japan new approach support |
| also | japan new approach support howev | also | job imf point risk given |
| need | debt road return els japan | need | address polici challeng face policymak |
| polici | return els japan need address | polici | challeng face policymak global polici |
| global | address polici challeng face policymak | global | polici challengesi would like turn |
| polici | polici challeng face policymak global | polici | challengesi would like turn briefli |
| global | would like turn briefli remain | global | polici challeng recoveri continu problem |
| polici | like turn briefli remain global | polici | challeng recoveri continu problem euro |
| polici | problem euro area u fiscal | polici | certain creat nearterm risk also |
| also | polici certain creat nearterm risk | also | challeng rebalanc global demand refer |
| global | nearterm risk also challeng rebalanc | global | demand refer imbal countri larg |
| countri | rebalanc global demand refer imbal | countri | larg currentaccount surplus big deficit |
| economi | build system safe support real | economi | limit danger risk take policymak |
| need | limit danger risk take policymak | need | complet reform agenda financi sector |
| global | capit liquid requir capit surcharg | global | bank clearer standard supervis resolut |
| countri | supervis resolut progress uneven across | countri | across issu concern commit cooper |
| countri | across issu concern commit cooper | countri | author may wane also still |
| also | cooper countri author may wane | also | still remain sever issu includ |
| market | big fail inadequ supervis deriv | market | shadow bank third overarch issu |
| growth | peopl best way creat job | growth | countri spur growth labor market |
| countri | best way creat job growth | countri | spur growth labor market polici |
| growth | creat job growth countri spur | growth | labor market polici assist job |
| market | growth countri spur growth labor | market | polici assist job creation nation |
| polici | countri spur growth labor market | polici | assist job creation nation challengesnow |
| polici | nation challengesnow let us examin | polici | challeng face three group economi |
| economi | polici challeng face three group | economi | discuss earlier emerg market lowincom |
| market | group economi discuss earlier emerg | market | lowincom economi primari challeng relat |
| economi | discuss earlier emerg market lowincom | economi | primari challeng relat econom forc |
| econom | lowincom economi primari challeng relat | econom | forc limit control weak demand |
| market | limit control weak demand tradit | market | rapid increas global liquid fuel |
| global | demand tradit market rapid increas | global | liquid fuel monetari polici advanc |
| polici | increas global liquid fuel monetari | polici | advanc economi like lead continu |
| economi | liquid fuel monetari polici advanc | economi | like lead continu capit inflow |
| market | exchang rate pressur mani emerg | market | countri basic desir process time |
| countri | rate pressur mani emerg market | countri | basic desir process time capit |
| countri | volatil make macroeconom manag difficult | countri | done good job adjust need |
| need | countri done good job adjust | need | think term addit step exampl |
| need | boost domest demand fiscal buffer | need | raini day respond futur shock |
| countri | raini day respond futur shock | countri | also need strengthen financi regul |
| also | day respond futur shock countri | also | need strengthen financi regul supervis |
| need | respond futur shock countri also | need | strengthen financi regul supervis part |
| polici | excess area come call macroprudenti | polici | countri face addit challeng reform |
| countri | area come call macroprudenti polici | countri | face addit challeng reform expens |
| countri | subsidi essenti limit resourc lowincom | countri | go infrastructur project target social |
| econom | u challeng alreadi clear stage | econom | recoveri must doubt willing u |
| need | fiscal roadmap imper u debt | need | reduc entitl tax reform accommod |
| economi | concern overburden generat advers spillov | economi | addit exit unconvent monetari polici |
| polici | economi addit exit unconvent monetari | polici | pose sever risk instanc longterm |
| market | capit could sudden move emerg | market | fund continu engag polici option |
| polici | emerg market fund continu engag | polici | option includ exit monetari support |
| polici | analyz spillov euro area monetari | polici | remain accommod fiscal consolid calibr |
| countri | accommod fiscal consolid calibr situat | countri | room increas spend strengthen demand |
| need | strengthen demand rein debt deficit | need | protect left vulner crisi govern |
| also | left vulner crisi govern must | also | continu urgent task fix bank |
| need | low interest rate translat credit | need | lift growth also need implement |
| growth | rate translat credit need lift | growth | also need implement structur reform |
| also | translat credit need lift growth | also | need implement structur reform rebuild |
| need | credit need lift growth also | need | implement structur reform rebuild competit |
| also | competit problem european financi system | also | requir collect solut includ bank |
| also | supervisori author deposit insur fund | also | need greater fiscal integr consider |
| need | author deposit insur fund also | need | greater fiscal integr consider also |
| also | need greater fiscal integr consider | also | given develop new credit instrument |
| polici | percent inflat next two year | polici | import japan global economi believ |
| global | two year polici import japan | global | economi believ possibl achiev level |
| economi | year polici import japan global | economi | believ possibl achiev level inflat |
| polici | leav deflat behind requir broader | polici | effort monetari polici measur alon |
| polici | requir broader polici effort monetari | polici | measur alon suffici growth need |
| growth | monetari polici measur alon suffici | growth | need rise well let therefor |
| need | polici measur alon suffici growth | need | rise well let therefor emphas |
| polici | fiscal structur reform new monetari | polici | framework without fiscal risk suggest |
| growth | suggest earlier absenc credibl fiscal | growth | plan aggress monetari eas could |
| market | aggress monetari eas could focus | market | concern eventu deficit financ scenario |
| financ | focus market concern eventu deficit | financ | scenario could bring sudden rise |
| growth | would hurt japan thus critic | growth | fiscal strategi govern plan announc |
| need | plan singl rate structur intact | need | credibl mediumterm plan fiscal consolid |
| need | contract fiscal posit fiscal consolid | need | carri steadili medium term japan |
| growth | signal willing enact reform boost | growth | hope govern also carri labor |
| also | reform boost growth hope govern | also | carri labor market measur spur |
| market | hope govern also carri labor | market | measur spur employ especi women |
| need | measur spur employ especi women | need | reform includ deregul product servic |
| polici | concern especi asia new boj | polici | negat impact beyond japan border |
| econom | monetari structur reform essenti japanes | econom | reviv monetari eas could weaken |
| economi | detour stronger japan essenti world | economi | need growth stabil conclusionth bottom |
| need | stronger japan essenti world economi | need | growth stabil conclusionth bottom line |
| growth | japan essenti world economi need | growth | stabil conclusionth bottom line return |
| global | stabil conclusionth bottom line return | global | economi growth stabil collect action |
| economi | conclusionth bottom line return global | economi | growth stabil collect action govern |
| growth | bottom line return global economi | growth | stabil collect action govern height |
| growth | contain five year crisi slow | growth | remain essenti intern communiti stay |
| growth | focus build framework new era | growth | stabil thank attent |
| need | step crucial reform europ still | need | adopt place crisi rearview mirror |
| growth | crisi rearview mirror final return | growth | job creation process mean assur |
| growth | area recess year return modest | growth | next year also risk europ |
| also | return modest growth next year | also | risk europ could fall stagnat |
| polici | institut decis avoid danger downsid | polici | maker must act strengthen prospect |
| growth | maker must act strengthen prospect | growth | turn essenti next step let |
| global | let begin quick overview outlook | global | economi know imf say world |
| economi | begin quick overview outlook global | economi | know imf say world settl |
| need | say world settl threespe recoveri | need | shift full speed recoveri mean |
| growth | recoveri mean strong sustain balanc | growth | today three speed growth emerg |
| growth | balanc growth today three speed | growth | emerg market develop economi well |
| market | today three speed growth emerg | market | develop economi well growth expect |
| economi | speed growth emerg market develop | economi | well growth expect exceed percent |
| growth | emerg market develop economi well | growth | expect exceed percent year near |
| economi | percent year near percent advanc | economi | grow much slower pace increas |
| economi | split u euro area u | economi | gain momentum sign reviv privat |
| market | consolid impos earlier year hous | market | gather steam consum spend busi |
| growth | less fiscal drag next year | growth | could exceed percent said see |
| growth | see euro area return modest | growth | percent next year deep ongo |
| countri | year deep ongo recess peripheri | countri | weak core invest declin unemploy |
| market | declin unemploy continu rise financi | market | remain fragment undermin transmiss monetari |
| polici | remain fragment undermin transmiss monetari | polici | contribut diverg privat interest rate |
| polici | area could find face specter | polici | quicksand relentless balanc sheet deterior |
| economi | relentless balanc sheet deterior drag | economi | deeper blunt impact even bold |
| polici | deeper blunt impact even bold | polici | adjust saw scenario play japan |
| countri | overlook huge overhang privat debt | countri | could deadweight demand bank balanc |
| economi | seen hit household taken peripheri | economi | sharp correct home price e |
| growth | ireland could worsen without renew | growth | e g spain belgium netherland |
| global | particular peripheri elabor develop recent | global | financi stabil report crisi gross |
| countri | portion debt owe bank core | countri | measur debttoequ basi portion itali |
| market | help bank retrench back home | market | pronounc peripheri french german bank |
| market | french german bank reduc exposur | market | percent mid third quarter last |
| polici | forward one step back get | polici | job done decis euro area |
| growth | one action fix problem restor | growth | rather europ need act sever |
| need | problem restor growth rather europ | need | act sever front essenc wherev |
| countri | let talk everyon part first | countri | respons lot focus fiscal polici |
| polici | countri respons lot focus fiscal | polici | simpl choic auster growth mani |
| growth | fiscal polici simpl choic auster | growth | mani countri europ need sustain |
| countri | simpl choic auster growth mani | countri | europ need sustain adjust ensur |
| need | auster growth mani countri europ | need | sustain adjust ensur sustain public |
| financ | sustain adjust ensur sustain public | financ | argu clear specif commit mediumterm |
| also | casebycas assess appropri pace consolid | also | need talk make fiscal polici |
| need | assess appropri pace consolid also | need | talk make fiscal polici growthfriend |
| polici | also need talk make fiscal | polici | growthfriend essenc composit spend revenu |
| countri | spend revenu given deficit see | countri | afford support economi need way |
| economi | deficit see countri afford support | economi | need way encourag privat sector |
| need | see countri afford support economi | need | way encourag privat sector invest |
| countri | sector invest boost demand anoth | countri | respons better structur polici countri |
| polici | anoth countri respons better structur | polici | countri press tackl longstand rigid |
| countri | countri respons better structur polici | countri | press tackl longstand rigid order |
| growth | longstand rigid order rais mediumterm | growth | prospect southern europ even core |
| need | prospect southern europ even core | need | increas competit tradeabl good sector |
| market | good sector especi labor product | market | reform far much reduct current |
| countri | boost export creat job unemploy | countri | need broader durabl improv competit |
| need | export creat job unemploy countri | need | broader durabl improv competit base |
| polici | subdu inflationari pressur tradit monetari | polici | proven enough europ monetari union |
| countri | union becom fragment household compani | countri | face lend rate elev well |
| polici | neither seem respons tradit ecb | polici | action ecb taken extraordinari action |
| need | key step understand stake one | need | look nation supervis cyprus elsewher |
| countri | paneuropean bank shift liquid one | countri | anoth ringfenc done interest nation |
| need | concern rais cost bank liquid | need | intensifi bank system fragment singl |
| need | mechan one case cyprus highlight | need | clariti ex ant bank failur |
| need | stabil resolut europ return normal | need | revers claimant bank take institut |
| need | practic follow elabor ensur bank | need | wound clear done pay let |
| countri | fund base bank contribut lead | countri | fear like pay problem countri |
| countri | countri fear like pay problem | countri | marketbas bailin approach consid eu |
| countri | primari burden institut creditor rather | countri | could defus polit tension subject |
| need | safeti net anoth essenti element | need | weaken banksovereign link reassur depositor |
| need | insur common backstop union europ | need | contempl fiscal union sure take |
| need | shortcom europ architectur expos crisi | need | clarifi chang come step toward |
| also | share avoid intens pocket crisi | also | essenti order strengthen foundat monetari |
| global | rest world role play call | global | rebalanc get traction deserv deficit |
| countri | rebalanc get traction deserv deficit | countri | control budget deficit domest demand |
| global | budget deficit domest demand adjust | global | economi end sluggish unless surplus |
| economi | deficit domest demand adjust global | economi | end sluggish unless surplus countri |
| countri | economi end sluggish unless surplus | countri | boost domest demand last year |
| econom | willing overcom step import worst | econom | risk reced growth challeng remain |
| growth | import worst econom risk reced | growth | challeng remain downsid daunt risk |
| growth | risk stagnat remot face weak | growth | fragment market impair balanc sheet |
| market | remot face weak growth fragment | market | impair balanc sheet halfcomplet reform |
| polici | europ risen challeng difficult issu | polici | maker continu demonstr commit project |
| polici | address problem obvious matter urgenc | polici | correct agre last round discuss |
| global | prepar deliveryintroduct status | global | economygood afternoon let begin thank |
| econom | economygood afternoon let begin thank | econom | club new york especi chairman |
| econom | wilki presidenti candid back describ | econom | club foremost nonpartisan forum countri |
| countri | econom club foremost nonpartisan forum | countri | come cut edg econom polici |
| econom | forum countri come cut edg | econom | polici believ true today provid |
| polici | countri come cut edg econom | polici | believ true today provid invalu |
| econom | imf hold spring meet welcom | econom | policymak countri global membership washington |
| countri | spring meet welcom econom policymak | countri | global membership washington releas latest |
| global | meet welcom econom policymak countri | global | membership washington releas latest econom |
| econom | global membership washington releas latest | econom | forecast time provid number today |
| global | new york big question cours | global | economi stand five year lehman |
| economi | york big question cours global | economi | stand five year lehman world |
| econom | sign improv thank action policymak | econom | world longer look quit danger |
| global | six month ago yet expect | global | growth much higher year last |
| growth | month ago yet expect global | growth | much higher year last see |
| countri | well old risk far mani | countri | improv financi market translat improv |
| market | far mani countri improv financi | market | translat improv real economi live |
| economi | financi market translat improv real | economi | live peopl differ region also |
| also | economi live peopl differ region | also | starker ever see emerg threespe |
| global | starker ever see emerg threespe | global | economi countri well mend still |
| economi | ever see emerg threespe global | economi | countri well mend still distanc |
| countri | see emerg threespe global economi | countri | well mend still distanc travel |
| need | differ challeng larg interconnect share | need | put place polici repair consequ |
| polici | interconnect share need put place | polici | repair consequ crisi prevent recurr |
| global | two thing today prioriti threespe | global | economylet begin prioriti three differ |
| countri | group first speed group includ | countri | well group includ essenti emerg |
| market | well group includ essenti emerg | market | develop countri mani grappl crise |
| countri | includ essenti emerg market develop | countri | mani grappl crise past well |
| polici | enter crisi posit strength sound | polici | belt think east asia exampl |
| market | fact past half decad emerg | market | develop economi led world recoveri |
| economi | half decad emerg market develop | economi | led world recoveri account remark |
| global | world recoveri account remark threequart | global | growth slight slowdown last year |
| growth | recoveri account remark threequart global | growth | slight slowdown last year bounc |
| countri | africa two fastestgrow region world | countri | legitim want consolid success time |
| market | consolid success time mani emerg | market | look advanc countri serious concern |
| countri | mani emerg market look advanc | countri | serious concern mani worri potenti |
| polici | potenti fallout except loos monetari | polici | especi unconvent eas let emphas |
| polici | present circumst make sens monetari | polici | heavi lift recoveri remain accommod |
| growth | central bank greater leeway support | growth | experi also tell us unintend |
| also | greater leeway support growth experi | also | tell us unintend consequ low |
| economi | take risk justifi across emerg | economi | policymak worri except loos monetari |
| polici | policymak worri except loos monetari | polici | affect exchang rate capit flow |
| growth | high asset price rapid credit | growth | greatest worri like goe come |
| economi | larg volatil capit flow bring | economi | right risk appear control capit |
| market | appear control capit flow emerg | market | main good polici good prospect |
| polici | flow emerg market main good | polici | good prospect market must alert |
| market | main good polici good prospect | market | must alert warn sign corpor |
| market | alert warn sign corpor emerg | market | exampl take debt foreign exchang |
| market | foreign currenc borrow firm emerg | market | risen percent past year bank |
| market | expos cold light day emerg | market | need boost defens includ reconstitut |
| need | cold light day emerg market | need | boost defens includ reconstitut fiscal |
| polici | boost defens includ reconstitut fiscal | polici | space erod crisi well step |
| polici | bank regul supervis right macroprudenti | polici | obvious depend differ circumst includ |
| growth | differ circumst includ limit credit | growth | rapidlyexpand area impos capit requir |
| market | requir move cycl reinforc financi | market | close monitor foreign exchang exposur |
| economi | monitor foreign exchang exposur advanc | economi | also bear respons term deliv |
| also | foreign exchang exposur advanc economi | also | bear respons term deliv better |
| polici | respons term deliv better fiscal | polici | financi repair thus reliev burden |
| polici | repair thus reliev burden monetari | polici | right set polici side capit |
| polici | burden monetari polici right set | polici | side capit flow equat risk |
| market | flow equat risk manag emerg | market | develop countri expect continu forward |
| countri | risk manag emerg market develop | countri | expect continu forward momentum first |
| economi | forward momentum first speed group | economi | b let us turn second |
| countri | turn second group three speed | countri | mend group countri consist come |
| countri | three speed countri mend group | countri | consist come grip fundament polici |
| polici | countri consist come grip fundament | polici | issu includ unit state also |
| also | polici issu includ unit state | also | countri like sweden switzerland exampl |
| countri | issu includ unit state also | countri | like sweden switzerland exampl let |
| market | situat pay credit condit hous | market | employ begun tilt see steadi |
| growth | employ begun tilt see steadi | growth | underpin solid privat demand mean |
| financ | settl far outstand issu public | financ | appear unbalanc adjust aggress short |
| growth | could cut half percent gdp | growth | risk throw away need growth |
| need | gdp growth risk throw away | need | growth especi time mani peopl |
| growth | growth risk throw away need | growth | especi time mani peopl still |
| also | time mani peopl still work | also | extrem blunt instrument impos deep |
| economi | reduct still among highest advanc | economi | fact govern debt expect hit |
| polici | hit percent gdp year without | polici | action trajectori unsustain point recoveri |
| polici | support recoveri privat demand major | polici | challeng face unit state today |
| global | us turn third speed group | global | economi countri still distanc travel |
| economi | turn third speed group global | economi | countri still distanc travel includ |
| countri | third speed group global economi | countri | still distanc travel includ euro |
| countri | debt burden greec applaud easi | countri | agre implement major polici initi |
| polici | easi countri agre implement major | polici | initi relat short time time |
| need | loan book even outsid peripheri | need | shrink balanc sheet reduc relianc |
| polici | model insuffici financi repair monetari | polici | spin wheel mean low interest |
| need | rate translat afford credit peopl | need | plumb clog see financi fragment |
| econom | recapit restructur necessari shut bank | econom | monetari union financi problem common |
| need | problem common problem euro area | need | collect polici solut one option |
| polici | problem euro area need collect | polici | solut one option direct recapit |
| need | system implic beyond euro area | need | real bank union strengthen foundat |
| polici | weak sovereign forc cut monetari | polici | fulli effect financi stabil fulli |
| countri | stabil fulli assur euro area | countri | promin among still distanc travel |
| econom | break free deflat trap restor | econom | vital vein recentlyannounc framework ambiti |
| need | inflat target posit step japan | need | reli monetari polici kickstart growth |
| polici | step japan need reli monetari | polici | kickstart growth succeed howev japan |
| growth | need reli monetari polici kickstart | growth | succeed howev japan must also |
| also | growth succeed howev japan must | also | move ahead area includ fiscal |
| polici | move ahead area includ fiscal | polici | look increas unsustain japan public |
| need | gdp urgent prioriti therefor japan | need | clear credibl plan lower public |
| also | lower public debt medium term | also | need comprehens structur reform shift |
| need | public debt medium term also | need | comprehens structur reform shift economi |
| economi | need comprehens structur reform shift | economi | higher gear major polici challeng |
| polici | shift economi higher gear major | polici | challeng need met stay ahead |
| need | higher gear major polici challeng | need | met stay ahead crisi group |
| countri | met stay ahead crisi group | countri | threespe global economi ii global |
| global | ahead crisi group countri threespe | global | economi ii global prioriti stay |
| economi | crisi group countri threespe global | economi | ii global prioriti stay ahead |
| global | countri threespe global economi ii | global | prioriti stay ahead crisisther anoth |
| global | well financi sector reform balanc | global | demand emphasi growth job equiti |
| growth | reform balanc global demand emphasi | growth | job equiti let turn issu |
| need | financi sector reformth bottom line | need | global financi system support stabil |
| global | sector reformth bottom line need | global | financi system support stabil growth |
| growth | global financi system support stabil | growth | lack mani case unit state |
| economi | back busi model ultim destabil | economi | simpli cannot precrisi bank postcrisi |
| need | cannot precrisi bank postcrisi world | need | reform even face intens pushback |
| global | reluct abandon lucrat line busi | global | policymak certain made signific progress |
| global | capit liquid requir capit surcharg | global | megabank well clear standard supervis |
| need | supervis resolut stay ahead crisi | need | see progress import dimens mean |
| economi | gravit true advanc well emerg | economi | financi sector reform effort must |
| also | financi sector reform effort must | also | coordin intern alreadi see countri |
| countri | also coordin intern alreadi see | countri | pull differ direct area calcul |
| need | riski asset curb bank excess | need | focus consist global regul implement |
| global | bank excess need focus consist | global | regul implement includ key area |
| global | overarch issu face b balanc | global | demandth second issu balanc global |
| global | global demandth second issu balanc | global | demand long pattern global growth |
| global | balanc global demand long pattern | global | growth highwir act region larg |
| growth | global demand long pattern global | growth | highwir act region larg current |
| countri | onesid come lower demand deficit | countri | need higher demand surplus region |
| need | come lower demand deficit countri | need | higher demand surplus region mean |
| countri | region mean differ thing differ | countri | countri northern europ like germani |
| countri | mean differ thing differ countri | countri | northern europ like germani mean |
| economi | consumpt move toward servicesori consumerbas | economi | path upon alreadi embark addit |
| growth | serv numer goal support balanc | growth | inclus growth safer financi system |
| growth | goal support balanc growth inclus | growth | safer financi system help real |
| economi | safer financi system help real | economi | especi dynam privat sector prioriti |
| growth | regul supervis shadow bank c | growth | job equityth third issu countri |
| countri | growth job equityth third issu | countri | need emphas growth job equiti |
| need | job equityth third issu countri | need | emphas growth job equiti word |
| growth | third issu countri need emphas | growth | job equiti word attent issu |
| economi | level employ best guarante vibrant | economi | healthi societi without risk wilder |
| growth | peopl best way creat job | growth | must come first right balanc |
| polici | first right balanc demandsid supplysid | polici | policymak also deploy labor market |
| also | balanc demandsid supplysid polici policymak | also | deploy labor market polici spur |
| market | polici policymak also deploy labor | market | polici spur job creation direct |
| polici | policymak also deploy labor market | polici | spur job creation direct keep |
| polici | job creation direct keep fiscal | polici | sustain option includ educ train |
| growth | subsidi lower tax labor besid | growth | job must equiti inclus equiti |
| growth | balanc distribut incom lead sustain | growth | greater econom stabil underpin stronger |
| econom | incom lead sustain growth greater | econom | stabil underpin stronger bond social |
| countri | let face inequ high mani | countri | grow countri crisi equiti also |
| countri | inequ high mani countri grow | countri | crisi equiti also matter tough |
| also | countri grow countri crisi equiti | also | matter tough time continu see |
| growth | pain adjust must share gain | growth | matter peopl crisi countri bear |
| countri | gain growth matter peopl crisi | countri | bear heavi burden peopl arab |
| countri | heavi burden peopl arab transit | countri | seek new departur base digniti |
| also | combat tax evas subsidi reform | also | help take energi subsidi exampl |
| global | trillion whop  ½ percent | global | gdp clear resourc could put |
| economi | put much better use improv | economi | improv peopl live conclusionlet conclud |
| also | xi jinp allus china dream | also | captur sens renew vision put |
| global | effect support believ lot give | global | experi technic expertis also lot |
| also | give global experi technic expertis | also | lot learn asia remark success |
| growth | step fulfil asia dream last | growth | prosper let begin current global |
| global | growth prosper let begin current | global | econom perspect asianbias angl current |
| econom | prosper let begin current global | econom | perspect asianbias angl current global |
| global | econom perspect asianbias angl current | global | econom perspectivei dare imagin world |
| econom | perspect asianbias angl current global | econom | perspectivei dare imagin world economi |
| economi | econom perspectivei dare imagin world | economi | might today without asia region |
| global | today without asia region consist | global | growth leader drive astonish total |
| growth | without asia region consist global | growth | leader drive astonish total growth |
| growth | growth leader drive astonish total | growth | five year sinc crisi hit |
| global | world asia sit squar crossroad | global | trade good news also expos |
| also | crossroad global trade good news | also | expos asia chang fortun part |
| growth | fortun part world time clearer | growth | tumbl percent number asian economi |
| economi | growth tumbl percent number asian | economi | month follow lehman collaps question |
| global | follow lehman collaps question whether | global | prospect tilt upsid downsid imf |
| global | upsid downsid imf releas updat | global | forecast next week let give |
| global | without disclos number substanti portion | global | economi look better today last |
| economi | disclos number substanti portion global | economi | look better today last year |
| growth | look better today last year | growth | continu strengthen broaden among emerg |
| economi | strengthen broaden among emerg develop | economi | begin see momentum pick unit |
| growth | risk patchi recoveri low lopsid | growth | enough enough real recoveri enough |
| global | enough enough real recoveri enough | global | recoveri worri low growth natur |
| growth | enough global recoveri worri low | growth | natur center europ continu recess |
| countri | difficult condit persist smaller peripheri | countri | well weak core eurozon progress |
| polici | core eurozon progress number front | polici | solut take time complet effect |
| countri | effect includ tough adjust individu | countri | area wide level main issu |
| economi | exposur fiscal risk major advanc | economi | also weigh recoveri unit state |
| also | fiscal risk major advanc economi | also | weigh recoveri unit state exampl |
| growth | cut known sequest take shine | growth | year failur rais debt ceil |
| polici | bigger issu uncertainti futur fiscal | polici | yes fiscal cliff avoid credibl |
| growth | remain key challeng address u | growth | place much sustain path would |
| polici | monetari risk monetari exposur monetari | polici | includ unconvent measur help prop |
| economi | unconvent measur help prop advanc | economi | turn global growth reform announc |
| global | help prop advanc economi turn | global | growth reform announc bank japan |
| growth | prop advanc economi turn global | growth | reform announc bank japan anoth |
| polici | direct howev limit effect monetari | polici | continu shoulder lion share effort |
| also | progress balanc sheet repair could | also | unintend consequ includ exit policymak |
| need | unintend consequ includ exit policymak | need | plan watch also come back |
| also | exit policymak need plan watch | also | come back fiscal uncertainti weigh |
| growth | come back fiscal uncertainti weigh | growth | well need push ahead comprehens |
| need | fiscal uncertainti weigh growth well | need | push ahead comprehens structur reform |
| growth | comprehens structur reform help kickstart | growth | mean asia expect region grow |
| economi | year enviabl perform measur asian | economi | demonstr abil agil adjust extern |
| economi | busi evolv demonstr sharp reduct | economi | current account resili domest demand |
| polici | domest demand back support macroeconom | polici | lynchpin success easier global financi |
| global | macroeconom polici lynchpin success easier | global | financi condit resumpt capit inflow |
| also | financi condit resumpt capit inflow | also | help contain aftermath global crisi |
| global | inflow also help contain aftermath | global | crisi anoth side strong credit |
| growth | crisi anoth side strong credit | growth | seen buildup financi imbal rise |
| economi | financi imbal rise asset price | economi | hot hong kong properti market |
| market | economi hot hong kong properti | market | one exampl vast divers across |
| global | asia anywher els howev provid | global | recoveri albeit patchi stay track |
| countri | albeit patchi stay track mani | countri | asia face issu unwind polici |
| polici | countri asia face issu unwind | polici | support help brace better still |
| global | brace better still stay ahead | global | domest risk begin central bank |
| also | measur help safeguard financi stabil | also | help manag potenti volatil capit |
| also | convers region leader seiz issu | also | know focus one issu closer |
| growth | one issu closer home inclus | growth | asia success lift million peopl |
| countri | decad million china anoth million | countri | yet despit success asia remain |
| countri | half world poor equal concern | countri | region inequ increas must assum |
| growth | inequ unavoid byproduct asia strong | growth | korea buck trend exampl reduc |
| growth | trend exampl reduc inequ break | growth | period main one point clear |
| growth | main one point clear equal | growth | like durabl growth number studi |
| growth | clear equal growth like durabl | growth | number studi includ fund demonstr |
| growth | demonstr critic find path last | growth | share prosper three prioritiesthi bring |
| growth | asia dream path achiev last | growth | share prosper asia recip growth |
| growth | growth share prosper asia recip | growth | last sever decad serv region |
| need | field farm year year may | need | rejuven fulfil asia dream rest |
| growth | physic capit import part asia | growth | success new wave growth come |
| growth | asia growth success new wave | growth | come invest economist call human |
| countri | health skill futur worker matter | countri | especi like india exampl brim |
| need | india exampl brim youth popul | need | educ equip modern workplac yet |
| countri | spend less educ health region | countri | expenditur bare budg mani year |
| countri | percent gdp health expenditur popul | countri | like indonesia philippin less half |
| also | latin america present huge challeng | also | huge opportun redirect spend toward |
| also | could benefit poor save could | also | help increas spend educ health |
| also | mean educ train workforc second | also | mean creat right incent join |
| market | incent join workforc rais labor | market | particip particular import countri age |
| countri | labor market particip particular import | countri | age popul dwindl workforc see |
| economi | see alreadi china japan korea | economi | asia may also face issu |
| also | japan korea economi asia may | also | face issu distant futur thailand |
| also | distant futur thailand vietnam exampl | also | relat low fertil rate main |
| growth | line includ women transform asia | growth | model asian dream third invest |
| also | asian dream third invest peopl | also | mean protect vulner effect social |
| econom | ensur vulner group exclud region | econom | success think china vision comprehens |
| countri | particular help smooth lengthi transit | countri | urban area messag simpl invest |
| economi | invest futur peopl invest futur | economi | bring second three prioriti creat |
| growth | creat right climat boost invest | growth | asia competit manufactur vibrant export |
| economi | good reason time mani asian | economi | reach level develop seen countri |
| countri | economi reach level develop seen | countri | region sustain slowdown growth like |
| growth | seen countri region sustain slowdown | growth | like occur socal middleincom trap |
| growth | trap challeng creat new opportun | growth | asian countri avoid trap creat |
| countri | creat new opportun growth asian | countri | avoid trap creat better environ |
| market | mean open opportun previous protect | market | profess also help generat better |
| also | opportun previous protect market profess | also | help generat better afford product |
| also | play field state privat firm | also | think step simplifi licens system |
| also | titl potenti grow urban popul | also | offer tremend potenti side growth |
| growth | also offer tremend potenti side | growth | group welleduc high skill peopl |
| countri | much case china particular import | countri | region india indonesia exampl produc |
| economi | electr per capita asia advanc | economi | imagin might achiev littl extra |
| countri | capac think region smallest remot | countri | pacif could achiev increas connect |
| also | connect well physic infrastructur cours | also | need good financi infrastructur well |
| need | well physic infrastructur cours also | need | good financi infrastructur well function |
| market | well function effect regul financi | market | pivot stabl last growth yet |
| growth | financi market pivot stabl last | growth | yet financi develop region financi |
| economi | integr fact mani asia advanc | economi | financi connect unit state asian |
| economi | financi connect unit state asian | economi | incred scope asia deeper better |
| market | asia deeper better integr financi | market | help support new busi new |
| market | demand integr deeper asian bond | market | exampl could help reduc cost |
| countri | help reduc cost would help | countri | region big small imagin busi |
| financ | fund buy bond hong kong | financ | support solar wind project myanmar |
| need | lead third final prioriti asia | need | environ support sustain growth environ |
| growth | asia need environ support sustain | growth | environ affect everyth food eat |
| econom | breath see environment issu press | econom | issu recent estim chines academi |
| economi | mind exhaust environ might extinguish | economi | unpredict climat event also often |
| also | extinguish economi unpredict climat event | also | often come heavi cost think |
| growth | push inflat disrupt mine cut | growth | region trade often environmentallyfriend strong |
| growth | region trade often environmentallyfriend strong | growth | pit instead walk handinhand green |
| growth | green technolog green industri driver | growth | provid fiscal incent right includ |
| global | releas comprehens analysi energi subsidi | global | subsidi amount stagger trillion rough |
| econom | co emiss percent give sens | econom | polici make differ environ yes |
| polici | emiss percent give sens econom | polici | make differ environ yes asia |
| need | make differ environ yes asia | need | growth asia also need green |
| growth | differ environ yes asia need | growth | asia also need green growth |
| also | yes asia need growth asia | also | need green growth respect environment |
| need | asia need growth asia also | need | green growth respect environment sustain |
| growth | growth asia also need green | growth | respect environment sustain support econom |
| econom | growth respect environment sustain support | econom | sustain conclusionlet conclud chines philosoph |
| global | success success believ asia leadership | global | economi go strength strength asia |
| economi | success believ asia leadership global | economi | go strength strength asia transform |
| econom | strength strength asia transform idea | econom | cooper partnership five year crisi |
| need | learn lot asia achiev asia | need | world world also need asia |
| also | achiev asia need world world | also | need asia imf need asia |
| need | asia need world world also | need | asia imf need asia strength |
| need | world also need asia imf | need | asia strength leadership everi confid |
| global | today would like cover briefli | global | econom set review implic econom |
| econom | would like cover briefli global | econom | set review implic econom outlook |
| econom | global econom set review implic | econom | outlook risk asia region asean |
| polici | financi imbal offer view key | polici | challeng current junctur allow briefli |
| global | briefli highlight key point present | global | economi enter reced tail risk |
| economi | highlight key point present global | economi | enter reced tail risk thank |
| polici | enter reced tail risk thank | polici | action avert u fiscal cliff |
| economi | price credit improv major emerg | economi | also see strengthen activ meanwhil |
| also | credit improv major emerg economi | also | see strengthen activ meanwhil financi |
| market | downsid risk remain signific recent | market | jitter remind us risk balanc |
| global | balanc six month ago nevertheless | global | econom outlook remain subdu sluggish |
| econom | six month ago nevertheless global | econom | outlook remain subdu sluggish recoveri |
| economi | remain subdu sluggish recoveri advanc | economi | particular euro area weak activ |
| countri | area weak activ extend core | countri | forward look indic manufactur purchas |
| growth | remain contractionari territori work final | growth | forecast come week see small |
| growth | januari updat envisag modest recoveri | growth | unit state percent percent consumpt |
| market | firm respons slow turnaround hous | market | support financi market euro area |
| market | turnaround hous market support financi | market | euro area would remain recess |
| polici | euro area unit state monetari | polici | like remain high accommod light |
| growth | financi condit stabil extern demand | growth | gain momentum first quarter slow |
| growth | weaken export led china export | growth | begun pick reflect combin supplychain |
| economi | strengthen demand within asia advanc | economi | notabl unit state time privat |
| market | robust easi financi favor labor | market | condit support consum confid buoyant |
| economi | china lesser extent major asean | economi | headlin inflat fell mark across |
| also | food commod price sever case | also | weaker growth core inflat earli |
| growth | price sever case also weaker | growth | core inflat earli low stabl |
| economi | low stabl percent number region | economi | includ china korea malaysia thailand |
| growth | activ indic expect small pickup | growth | asia near term underpin continu |
| growth | demand modest strengthen extern demand | growth | asia whole forecast increas  |
| economi | Â ¾ percent percent asean | economi | group expect record similar growth |
| growth | economi group expect record similar | growth | rate subject signific variat countri |
| countri | growth rate subject signific variat | countri | lowincom economi cambodia lao pdr |
| economi | subject signific variat countri lowincom | economi | cambodia lao pdr myanmar expect |
| market | condit help well favor labor | market | condit unemploy multiyear low sever |
| economi | condit unemploy multiyear low sever | economi | former reflect combin accommod monetari |
| polici | former reflect combin accommod monetari | polici | rapid credit growth asean economi |
| growth | accommod monetari polici rapid credit | growth | asean economi continu robust capit |
| economi | polici rapid credit growth asean | economi | continu robust capit inflow help |
| growth | longterm interest rate boost credit | growth | well reduc cost equiti region |
| economi | well reduc cost equiti region | economi | also expect benefit grow intern |
| also | reduc cost equiti region economi | also | expect benefit grow intern demand |
| economi | intern demand spillov advanc open | economi | korea taiwan provinc china direct |
| growth | benefit ongo recoveri china see | growth | recov percent stimulus measur adopt |
| growth | new govern japan help sustain | growth | Â ½ percent recent exchang |
| market | extern competit histor perspect export | market | share asian economi remain close |
| economi | perspect export market share asian | economi | remain close trend despit larg |
| global | real effect exchang rate aftermath | global | financi crisi case asean economi |
| economi | global financi crisi case asean | economi | grow integr final consum good |
| also | final consum good trade may | also | contribut favor intraregion demand dynam |
| economi | intraregion demand dynam inde asean | economi | success integr region suppli chain |
| econom | detail forthcom asia pacif region | econom | outlook trade final consumpt good |
| economi | consumpt good larger advanc asean | economi | indonesia malaysia philippin singapor thailand |
| also | third total consum good export | also | empir evid intraregion demand becom |
| growth | intraregion demand becom import driver | growth | asean economi togeth grow larg |
| economi | becom import driver growth asean | economi | togeth grow larg domest market |
| market | economi togeth grow larg domest | market | greater trade integr provid region |
| global | integr provid region sourc resili | global | demand shock expect inflat remain |
| growth | except india consist moder pickup | growth | stabl outlook global food commod |
| global | moder pickup growth stabl outlook | global | food commod price headlin inflat |
| global | balanc last six month particular | global | tail risk reced mention nevertheless |
| global | asia remain consider event sever | global | slowdown fall extern demand would |
| economi | exert power drag asia open | economi | direct secondround impact lower invest |
| econom | sector exampl scenario forthcom world | econom | outlook show reassess sovereign risk |
| economi | risk euro area system advanc | economi | prompt fiscal tighten lower growth |
| growth | economi prompt fiscal tighten lower | growth | growth lower say percentag point |
| growth | prompt fiscal tighten lower growth | growth | lower say percentag point relat |
| growth | say percentag point relat baselin | growth | emerg asia would reduc percentag |
| also | point averag next two year | also | risk challeng within region come |
| economi | particular emerg asia number asean | economi | stem gradual buildup financi imbal |
| growth | financi imbal relat rapid credit | growth | rise asset price fact credit |
| growth | rise asset price fact credit | growth | across number economi region continu |
| economi | fact credit growth across number | economi | region continu exceed nomin gdp |
| growth | region continu exceed nomin gdp | growth | even longer term trend number |
| global | china korea vietnam singapor indonesia | global | financi condit eas mark sinc |
| economi | loosen monetari stanc major advanc | economi | risk capit began return emerg |
| economi | third quarter turnaround led asean | economi | swing net portfolio flow amount |
| countri | relat small howev variat across | countri | financi stabil risk appear immin |
| market | bubbl form hous equiti credit | market | select market economi general still |
| market | hous equiti credit market select | market | economi general still appear moder |
| economi | equiti credit market select market | economi | general still appear moder histor |
| market | illustr pricedynam credit equiti hous | market | relat histor norm measur number |
| economi | gain strength measur select asean | economi | face grow financi imbal credit |
| market | grow financi imbal credit equiti | market | hous market still look relat |
| market | imbal credit equiti market hous | market | still look relat stabl although |
| countri | subseg larg citi asean lowincom | countri | financi stabil risk main aris |
| growth | risk main aris rapid credit | growth | notabl cambodia lao structur chang |
| market | system includ creation new stock | market | requir financi supervis becom comprehens |
| also | corpor household sector balanc sheet | also | appear general robust corpor sector |
| global | level record reflect deleverag aftermath | global | financi crisi moreov debttoequ ratio |
| economi | debttoequ ratio corpor sector asian | economi | general level observ unit state |
| economi | euro area lesser extent emerg | economi | latin america asian firm also |
| also | economi latin america asian firm | also | tend stronger liquid posit region |
| growth | debt general moder although rapid | growth | issuanc privat foreign currenc debt |
| also | profit ratio asia corpor sector | also | remain rather solid stabl part |
| growth | solid stabl part reflect favor | growth | environ relat world region household |
| also | world region household sector leverag | also | pick economi lend bank household |
| economi | household sector leverag also pick | economi | lend bank household close percent |
| economi | potenti imbal howev number asian | economi | buffer remain somewhat unit state |
| economi | remain somewhat unit state emerg | economi | latin america bring last section |
| polici | bring last section present today | polici | despit progress rebuild global financi |
| global | today polici despit progress rebuild | global | financi system process gone long |
| growth | goal stronger financi sector support | growth | real economi one behav differ |
| economi | financi sector support growth real | economi | one behav differ crisi action |
| need | one behav differ crisi action | need | first u european bank substanti |
| need | standard indic repair balanc sheet | need | second major step forward taken |
| global | second major step forward taken | global | regulatori reform includ agreement global |
| global | global regulatori reform includ agreement | global | bank capit liquid regim fsb |
| need | shadow bank etc third progress | need | toward complet bank union europ |
| polici | resolut author common safeti net | polici | adjust effort euro area peripheri |
| countri | adjust effort euro area peripheri | countri | need sustain must support center |
| need | effort euro area peripheri countri | need | sustain must support center includ |
| growth | japan although stimulus expect boost | growth | near term prioriti underpin renew |
| growth | prioriti underpin renew emphasi rais | growth | inflat ambiti monetari polici eas |
| polici | rais growth inflat ambiti monetari | polici | eas adopt credibl mediumterm fiscal |
| growth | consumpt tax increas rais potenti | growth | structur reform closer home key |
| growth | buildup financi imbal calibr support | growth | extern demand growth prospect still |
| growth | calibr support growth extern demand | growth | prospect still subdu least polici |
| polici | growth prospect still subdu least | polici | maker manag transit rebuild monetari |
| polici | manag transit rebuild monetari fiscal | polici | space macroprudenti capit flow measur |
| economi | stabil issu see mani asian | economi | resort broad rang prudenti measur |
| market | stabil risk aris overh properti | market | loantovalu ltv cap mortgag prudenti |
| countri | author toolkit effect vari across | countri | part reflect degre econom financi |
| econom | across countri part reflect degre | econom | financi develop exchang rate regim |
| polici | vulner certain shock accompani macroeconom | polici | depend circumst also consid complement |
| also | accompani macroeconom polici depend circumst | also | consid complement convent monetari tool |
| global | anoth case china stimulus respons | global | financi crisi led rapid credit |
| growth | financi crisi led rapid credit | growth | prompt author use macroprudenti measur |
| countri | addit empir estim across broad | countri | sampl suggest prudenti measur may |
| also | sampl suggest prudenti measur may | also | help dampen busi cycl fluctuat |
| also | help dampen busi cycl fluctuat | also | worth emphas experi asian economi |
| economi | also worth emphas experi asian | economi | macroprudenti capit flow measur import |
| need | whether measur appropri main depend | need | room macroeconom polici adjust time |
| polici | main depend need room macroeconom | polici | adjust time take polici becom |
| polici | macroeconom polici adjust time take | polici | becom effect specif sourc financi |
| economi | financi sector risk impact real | economi | measur clear target communic general |
| polici | substitut longerterm macroeconom financi sector | polici | time phase basl iii requir |
| market | macroprudenti toolkit develop asian financi | market | asian bank general well posit |
| also | tighter liquiditycoverag ratio ratio may | also | encourag develop new instrument constitut |
| growth | conclud assess latter backdrop uncertain | growth | prospect central bank region kept |
| polici | central bank region kept brought | polici | rate low level extent inflat |
| polici | region well transit rebuild monetari | polici | space would general warrant ongo |
| growth | space would general warrant ongo | growth | recoveri baselin project well risk |
| need | could prove difficult unwind howev | need | direct futur monetari polici action |
| polici | howev need direct futur monetari | polici | action differ substanti across economi |
| economi | polici action differ substanti across | economi | main reflect differ exposur shift |
| growth | main reflect differ exposur shift | growth | risk risk financi stabil exampl |
| polici | would benefici part broader set | polici | includ ambiti mediumterm fiscal consolid |
| growth | fiscal consolid structur reform rais | growth | sustain way contrast china past |
| financ | creditl stimulus led overhang social | financ | broad measur credit chines economi |
| economi | financ broad measur credit chines | economi | remain buoyant share nonbank financ |
| financ | economi remain buoyant share nonbank | financ | increas signific challeng continu support |
| economi | increas signific challeng continu support | economi | unwind past credit stimulus curb |
| growth | unwind past credit stimulus curb | growth | offbal sheet nonbank intermedi countri |
| countri | growth offbal sheet nonbank intermedi | countri | inflationari pressur elev indonesia vigil |
| growth | vigil inflat pay dividend longterm | growth | greater exchang rate flexibl would |
| also | greater exchang rate flexibl would | also | play use role curb futur |
| economi | rate appreci mani emerg asian | economi | amid narrow current account surplus |
| global | includ widen trade deficit lower | global | risk avers new monetari polici |
| polici | global risk avers new monetari | polici | initi turn fiscal manag countri |
| countri | polici initi turn fiscal manag | countri | circumst includ cyclic posit avail |
| also | cyclic posit avail fiscal space | also | determin appropri pace fiscal consolid |
| need | higher structur deficit crisi impli | need | greater effort rebuild fiscal space |
| economi | rebuild fiscal space mani asian | economi | includ asean member especi project |
| polici | fiscal balanc remain small current | polici | fiscal consolid could also help |
| also | current polici fiscal consolid could | also | help preempt potenti overh pressur |
| growth | play suffici first line defens | growth | disappoint somewhat strengthen fiscal space |
| also | somewhat strengthen fiscal space framework | also | need achiev sustain inclus growth |
| need | strengthen fiscal space framework also | need | achiev sustain inclus growth medium |
| growth | also need achiev sustain inclus | growth | medium term discuss greater detail |
| econom | detail forthcom asia pacif region | econom | outlook fiscal manag asia becom |
| polici | ampl scope make revenu expenditur | polici | growthfriend ensur asia grow prosper |
| growth | group conclus let say nearterm | growth | prospect asia improv somewhat main |
| global | improv somewhat main reflect reced | global | tail risk even though global |
| global | global tail risk even though | global | recoveri remain fragil subdu relat |
| global | remain fragil subdu relat easi | global | domest financi condit rapid credit |
| growth | domest financi condit rapid credit | growth | prospect continu strong capit inflow |
| polici | manag transit rebuild monetari fiscal | polici | space macroprudenti tool continu play |
| countri | subsidi evok imag oil produc | countri | offer cheap gasolin fuel peopl |
| countri | fuel peopl recent year hear | countri | find fiscal weight energi subsidi |
| countri | energi subsidi grow larg bear | countri | budget deficit becom unmanag threaten |
| economi | deficit becom unmanag threaten stabil | economi | polit system generat larg grow |
| countri | burden part placat restiv popul | countri | find suffer fiscal paralysi energi |
| countri | fiscal paralysi energi shortag headlin | countri | like egypt pakistan focus need |
| need | countri like egypt pakistan focus | need | address burden could jeopard fiscal |
| growth | subsidi remain stumbl block higher | growth | squeez much need health educ |
| need | block higher growth squeez much | need | health educ infrastructur spend twenti |
| countri | health educ infrastructur spend twenti | countri | maintain energi subsidi exceed percent |
| countri | problem major consequ mani individu | countri | also global economi environ g |
| also | major consequ mani individu countri | also | global economi environ g acknowledg |
| global | consequ mani individu countri also | global | economi environ g acknowledg point |
| economi | mani individu countri also global | economi | environ g acknowledg point pittsburgh |
| countri | commit subsidi issu practic everi | countri | world pretax subsidi aris energi |
| economi | energi high mani emerg develop | economi | risen recent year due limit |
| economi | subsidi larg enough problem advanc | economi | caus fiscal difficulti countri tax |
| countri | advanc economi caus fiscal difficulti | countri | tax subsidi tax impos energi |
| countri | new inde sever case imf | countri | author discuss potenti reform sever |
| growth | reduc suppli energi critic input | growth | africa exampl loss incur electr |
| growth | subsidi crowd public spend boost | growth | includ infrastructur educ health care |
| countri | health care social safeti net | countri | spend energi subsidi public health |
| econom | alloc resourc help spur higher | econom | growth longer term remov energi |
| growth | resourc help spur higher econom | growth | longer term remov energi subsidi |
| also | longer term remov energi subsidi | also | help prolong avail nonrenew energi |
| countri | balanc payment net energi import | countri | fifth boost energi consumpt thus |
| countri | reduc co emiss percent comparison | countri | implement emiss reduct pledg made |
| global | reduct pledg made copenhagen accord | global | greenhous gas emiss would reduc |
| global | target met word percent key | global | emiss reduct goal achiev stop |
| global | signific even view alongsid object | global | climat chang negoti estim point |
| countri | richest percent household low middleincom | countri | captur percent fuel subsidi slide |
| countri | base comprehens estim fuel energi | countri | cover petroleum product electr natur |
| countri | share energi use disaggreg data | countri | wide avail discuss figur let |
| also | subsidi beyond consum subsidi figur | also | tri captur produc subsidi aris |
| global | slide pretax subsidi substanti percent | global | gdp percent global tax revenu |
| global | substanti percent global gdp percent | global | tax revenu most compris subsidi |
| also | account half pretax subsidi slide | also | term region gdp govern revenu |
| global | estim trillion dollar equival percent | global | gdp percent govern revenu global |
| global | global gdp percent govern revenu | global | distribut postsubsidi differ seen pretax |
| economi | seen pretax subsidi fact advanc | economi | account percent global total slide |
| global | fact advanc economi account percent | global | total slide advanc economi provid |
| economi | percent global total slide advanc | economi | provid energi subsidi posttax basi |
| economi | subsidi posttax basi throughout world | economi | subsid energi underscor energi subsidi |
| global | underscor energi subsidi reform truli | global | challeng substanti differ size subsidi |
| economi | subsidi highest mena lowest advanc | economi | share revenu subsidi much higher |
| global | slide sum energi subsidi larg | global | scale mean issu emerg develop |
| countri | scale mean issu emerg develop | countri | would like turn third topic |
| countri | coal subsidi cover broad rang | countri | across differ region examin instanc |
| also | differ region examin instanc success | also | partial success unsuccess supplement lesson |
| also | design comprehens subsidi reform strategi | also | requir inform fiscal macroeconom effect |
| need | import step toward persuas communic | need | reform design polici reduc impact |
| polici | persuas communic need reform design | polici | reduc impact higher fuel price |
| countri | stakehold approach proven success number | countri | kenya exampl resist electr tariff |
| countri | campaign underpin success regard number | countri | includ fuel subsidi reform namibia |
| also | reform armenia uganda strengthen transpar | also | key compon success communic strategi |
| countri | subsidi fund especi relev oilexport | countri | subsidi provid implicit shown budget |
| also | record tax expenditur subsidi expenditur | also | compar spend prioriti area well |
| also | freed result subsidi reform govern | also | disclos much inform possibl price |
| countri | slide phase price increas particular | countri | depend rang factor includ size |
| also | household govern adjust consumpt energi | also | give govern time expand strengthen |
| also | inform set perform target incent | also | help introduc competit help improv |
| also | introduc competit help improv perform | also | scope improv collect energi bill |
| need | amount type energi best suit | need | buy good servic also remov |
| also | suit need buy good servic | also | remov need govern direct involv |
| need | buy good servic also remov | need | govern direct involv distribut subsid |
| also | subsid urban transport ghana measur | also | includ elimin fee staterun primari |
| polici | may requir sectorspecif support measur | polici | mitig impact worker promot restructur |
| financ | solv subsidi advers effect public | financ | econom growth equiti environ reduc |
| econom | subsidi advers effect public financ | econom | growth equiti environ reduc subsidi |
| growth | advers effect public financ econom | growth | equiti environ reduc subsidi easi |
| countri | environ reduc subsidi easi mani | countri | see benefit intend tri adequ |
| need | go forward mantra subsidi reform | need | better right way right away |
| financ | back germani part year frankfurt | financ | summit would like thank dr |
| financ | raettig chairman board frankfurt main | financ | invit particip let also thank |
| also | main financ invit particip let | also | thank jen weidmann kind word |
| financ | reform frankfurt centuri center commerc | financ | heart europ year summit examin |
| countri | bank point exampl nordic asian | countri | crise also exampl littl fundament |
| also | exampl nordic asian countri crise | also | exampl littl fundament chang improv |
| also | perman result robust set bank | also | reduc frequenc sever system bust |
| need | would like focus today believ | need | bring necessari suffici condit success |
| global | necessari suffici condit success transform | global | regulatori reform close solid set |
| global | repair bank union necessari worthwhil | global | regul reform reinforcepolicymak regul around |
| global | happen produc histor achiev agreement | global | bank capit liquid regim fsb |
| polici | major step forward europ deeper | polici | commit great reduc nearterm stabil |
| also | intent support bank mend delay | also | reflect difficulti agre way forward |
| global | standard well set capit surcharg | global | system import bank howev worri |
| market | term busi decis strain credit | market | spill real economi imf also |
| economi | strain credit market spill real | economi | imf also worri nation differ |
| also | market spill real economi imf | also | worri nation differ calcul riski |
| need | riski asset basi determin capit | need | bank success new rule recent |
| also | denomin connect accountingprogress account standard | also | mix exampl issu risk measur |
| global | could undermin common goal harmon | global | standard well coordin bottom line |
| need | bottom line yet fix toobigtofail | need | forg ahead three front address |
| need | across border come month jurisdict | need | spell plan resolv system institut |
| market | counterparti counter derivativesprogress reform deriv | market | slow agre wider use clear |
| market | central counterparti rais transpar overthecount | market | make system safer howev author |
| need | foreign exchang asset class problem | need | address recent headlin suggest bank |
| financ | policymak area shadow bankingback g | financ | minist made point regul need |
| need | financ minist made point regul | need | cover market product oper shadow |
| market | made point regul need cover | market | product oper shadow bank howev |
| market | fund guidanc monitor regul money | market | fund publish littl consensus actual |
| need | actual implement work pipelin fsb | need | see concret progress compensationcompens headlin |
| market | support ecb reform help calm | market | particular europ borrow howev particular |
| economi | felt impact rate lend real | economi | yet incorpor framework stronger disciplin |
| economi | negat feedback loop sovereign real | economi | continu fix troubl bank need |
| need | economi continu fix troubl bank | need | recapit wound bring second aspect |
| need | regulatori reform reduc drive deal | need | balanc sheet repair bank resolut |
| need | brake reform progress either way | need | move beyond chicken egg question |
| need | resolv bank undergon deep restructur | need | done mani bank still shackl |
| economi | asset impair credit transmiss real | economi | addit peripher euro area bank |
| countri | cut busi line longer viabl | countri | author singl supervisori mechan ssm |
| also | logic extens integr bank system | also | play central role global process |
| global | system also play central role | global | process transform mani way repres |
| global | mani way repres microcosm aim | global | regulatori reform agenda bank union |
| need | recoup taxpay support time listpolicymak | need | plow ahead list recent agreement |
| global | various direct ensur full complianc | global | accord name basel iii fsb |
| need | backstop full embrac unionwid architectur | need | ensur durabl financi stabil also |
| also | need ensur durabl financi stabil | also | sustain currenc union singl market |
| market | also sustain currenc union singl | market | financi servic europ includ sever |
| econom | otherwis impact new rule institut | econom | growth citizen europ limit conclus |
| growth | impact new rule institut econom | growth | citizen europ limit conclus enlighten |
| growth | safe weak bank still drag | growth | balanc sheet repair need tackl |
| need | drag growth balanc sheet repair | need | tackl time regulatori reform mutual |
| growth | job intermedi fund borrow support | growth | optimist draw inspir luther said |
| also | everyth done world done hope | also | realist immanuel kant one greatest |
| global | hope move toward enlighten era | global | financ regul one base experi |
| financ | move toward enlighten era global | financ | regul one base experi reason |
| countri | financi system stabil assess imf | countri | report http www imf orgexternalpubsftscr |
| countri | thank algerian govern invit spectacular | countri | also grate excel governor laksaci |
| also | algerian govern invit spectacular countri | also | grate excel governor laksaci organ |
| also | gain deeper insight algeria aspir | also | challeng reach hope futur today |
| polici | talk three thing valu reinforc | polici | foundat secur prosper ii creat |
| polici | inclus wide share prosper reinforc | polici | foundat prosperitylet begin polici foundat |
| polici | reinforc polici foundat prosperitylet begin | polici | foundat secur prosper algeria economi |
| economi | polici foundat secur prosper algeria | economi | perform well past decad often |
| global | well past decad often shadow | global | uncertainti sensibl macroeconom polici especi |
| polici | shadow global uncertainti sensibl macroeconom | polici | especi manag oil gas revenu |
| global | revenu cautious help algeria navig | global | crisi well region uncertainti help |
| economi | region uncertainti help make algeria | economi | resili sever way countri boast |
| countri | algeria economi resili sever way | countri | boast extern debt less percent |
| countri | day wise decis help shield | countri | sudden declin intern oil price |
| also | sudden declin intern oil price | also | meant govern abl meet press |
| need | govern abl meet press social | need | algeria peopl global crisi short |
| global | press social need algeria peopl | global | crisi short algeria natur bless |
| econom | bless nurtur buffer help ensur | econom | stabil yet goal continu stabil |
| growth | stabil certain hope broad share | growth | cannot assum taken light today |
| economi | mind one world around advanc | economi | still struggl remov shroud crisi |
| growth | stabil real recoveri still timid | growth | still sluggishwhil global growth around |
| global | still timid growth still sluggishwhil | global | growth around  ½ percent |
| growth | timid growth still sluggishwhil global | growth | around  ½ percent year |
| economi |  ½ percent year advanc | economi | like grow  ½ percent |
| growth | ground continu strong price export | growth | algeria oil gas sector polici |
| polici | growth algeria oil gas sector | polici | need abl guard risk econom |
| need | algeria oil gas sector polici | need | abl guard risk econom test |
| econom | polici need abl guard risk | econom | test algeria stabil extern pressur |
| growth | algerian work pressur risk undermin | growth | along job peopl need alreadi |
| need | undermin growth along job peopl | need | alreadi vulner one harm inflat |
| polici | peopl aspir take right combin | polici | tackl inflat fortun step right |
| polici | year budget decis tighten monetari | polici | last may still secur goal |
| need | goal lower inflat easi action | need | think particular monetari polici tighten |
| polici | action need think particular monetari | polici | tighten well resist ad pressur |
| also | current expenditur eas supplysid constraint | also | help reduc inflat foster competit |
| polici | move toward better sustain fiscal | polici | also import primari object reduc |
| also | toward better sustain fiscal polici | also | import primari object reduc algeria |
| also | fiscal buffer serv algeria well | also | use resourc avail high qualiti |
| growth | qualiti spend promot wide share | growth | employ ii open creat dynam |
| growth | main point expand possibl employ | growth | prosper oil gas sector serv |
| countri | prosper oil gas sector serv | countri | well yet countri relianc almost |
| countri | sector serv countri well yet | countri | relianc almost unparallel oil gas |
| growth | natur bless spark last inclus | growth | creat good job algerian truth |
| countri | good job algerian truth mani | countri | struggl issu handl well howev |
| global | public sector mean open reach | global | market also let world invest |
| market | sector mean open reach global | market | also let world invest trade |
| also | mean open reach global market | also | let world invest trade expertis |
| econom | trade expertis mean creat divers | econom | structur mani sector enrich overal |
| economi | structur mani sector enrich overal | economi | type transform happen overnight pleas |
| polici | import macroeconom stabil see two | polici | dimens help build stronger broader |
| financ | improv busi environ facilit access | financ | complex regul held back privat |
| growth | back privat sector job creation | growth | despit govern step address issu |
| need | day enforc contract extens reform | need | especi reform make easier start |
| also | mediums enterpris grow privat enterpris | also | need support modern financi system |
| need | enterpris grow privat enterpris also | need | support modern financi system mean |
| polici | provid credit busi individu second | polici | dimens greater open integr realiz |
| economi | realiz peopl sometim wari open | economi | trade financi link carri risk |
| economi | past oil price tumbl divers | economi | exact need manag risk shut |
| need | price tumbl divers economi exact | need | manag risk shut global connect |
| global | exact need manag risk shut | global | connect also shut world opportun |
| also | manag risk shut global connect | also | shut world opportun eas restrict |
| financ | improv opportun privat sector help | financ | new project help boost innov |
| growth | much way trade integr deliv | growth | scale would creat enough job |
| polici | copperon export earli follow aggress | polici | trade open widereach reform chile |
| growth | intraregion trade continu core asia | growth | success could true within region |
| growth | africa open emerg asia annual | growth | per capita gdp could increas |
| countri | almost full percentag point maghreb | countri | trade could bring addit percentag |
| growth | could bring addit percentag point | growth | countri opt deep multilater trade |
| countri | bring addit percentag point growth | countri | opt deep multilater trade integr |
| economi | deep multilater trade integr open | economi | certain need bake bigger pie |
| need | trade integr open economi certain | need | bake bigger pie ultim matter |
| growth | prosper algeria precious asset peopl | growth | includ growth cultiv job peopl |
| growth | precious asset peopl growth includ | growth | cultiv job peopl need turn |
| need | includ growth cultiv job peopl | need | turn yield growth year ahead |
| growth | job peopl need turn yield | growth | year ahead fact imf research |
| also | imf research show equal societi | also | like achiev last growth quit |
| growth | societi also like achiev last | growth | quit simpli inclus growth matter |
| growth | last growth quit simpli inclus | growth | matter social respons human digniti |
| growth | human digniti prioriti generat inclus | growth | hing put place modern transpar |
| countri | unemploy exceed percent compar mani | countri | algeria record unemploy move right |
| market | educ percent particip formal job | market | men employ rate five time |
| polici | five time higher women coupl | polici | support dynam privat sector labor |
| market | support dynam privat sector labor | market | reform help generat job opportun |
| need | help generat job opportun algerian | need | might think come imf mean |
| need | reli govern employ choic mindset | need | chang lucki enough work public |
| also | nobl thing next generat algerian | also | aspir doctor lawyer engin polici |
| polici | also aspir doctor lawyer engin | polici | give help hand one step |
| market | still protect worker activ labor | market | polici jobsbas train young graduat |
| polici | protect worker activ labor market | polici | jobsbas train young graduat job |
| also | young graduat job placement program | also | help particular better match worker |
| need | particular better match worker skill | need | labor market much job matter |
| market | match worker skill need labor | market | much job matter step also |
| also | market much job matter step | also | taken protect vulner creat opportun |
| need | unfortun subsidi benefit peopl realli | need | peopl privileg consum much poor |
| need | explicit better target peopl realli | need | hope inclus algeria hope algerian |
| need | help work provid financi support | need | egypt morocco tunisia import polici |
| polici | need egypt morocco tunisia import | polici | advic technic support draw collect |
| countri | draw collect experi imf member | countri | imf equal commit algeria friend |
| econom | discuss forum philippin sustain recent | econom | growth takeoff achiev greater inclus |
| growth | forum philippin sustain recent econom | growth | takeoff achiev greater inclus anoop |
| growth | asia provid demograph dividend gdp | growth | begin philippin home market expand |
| market | gdp growth begin philippin home | market | expand factor ten asean econom |
| econom | market expand factor ten asean | econom | communiti come full exist philippin |
| growth | extract natur resourc could contribut | growth | decad island kms shorelin coral |
| growth | youth workforc help sustain phenomen | growth | bpos larg remitt ofw context |
| growth | elsewher despit growthpromot advantag philippin | growth | lag region compar asian crisi |
| growth | lag region compar asian crisi | growth | philippin averag  ½ percent |
| countri | Â ½ percent meantim mani | countri | underw growth takeoff leav philippin |
| growth | percent meantim mani countri underw | growth | takeoff leav philippin somewhat behind |
| growth | stabl extern sector import precondit | growth | takeoff evidenc mani growth studi |
| growth | precondit growth takeoff evidenc mani | growth | studi growth account framework low |
| growth | takeoff evidenc mani growth studi | growth | account framework low invest held |
| need | framework low invest held back | need | capit deepen world econom forum |
| econom | back need capit deepen world | econom | forum global competit rank point |
| global | capit deepen world econom forum | global | competit rank point invest climat |
| countri | factor regard philippin lag compar | countri | across key indic infrastructur qualiti |
| need | public invest spend relat infrastructur | need | time transpar execut public privat |
| financ | public privat partnership greater revenu | financ | govern invest project could also |
| also | financ govern invest project could | also | help catalyz privat invest generat |
| market | score lower mani middleincom emerg | market | region global health educ indic |
| global | mani middleincom emerg market region | global | health educ indic lower product |
| market | unemploy underemploy suggest exist labor | market | friction indic competit indic especi |
| market | educ health care reduc labor | market | rigid would boost qualiti size |
| market | eas restrict foreign invest labor | market | improv govern enhanc qualiti labor |
| growth | qualiti labor possibl boost potenti | growth | signific broadbas reform increas contribut |
| growth | factor product feasibl expect potenti | growth | could rais around percent govern |
| econom | includ umbrella good govern good | econom | platform nation develop plan imf |
| also | money dispens financi advic imf | also | share concern smooth function market |
| market | also share concern smooth function | market | sound financi institut safe robust |
| economi | financi system play key role | economi | societi intermedi fund saver investor |
| global | prosper one key lesson recent | global | financi crisi bank must improv |
| economi | improv abil manag risk wreck | economi | instead help thrive present uncertain |
| econom | instead help thrive present uncertain | econom | outlook make even import call |
| econom | lowerrisk bank busi model support | econom | growth mean bank financi institut |
| growth | bank busi model support econom | growth | mean bank financi institut need |
| need | growth mean bank financi institut | need | reassess involv over complex opaqu |
| need | next time hear viennes waltz | need | regul supervisor lead follow tonight |
| global | profound implic asset manag busi | global | outlookther good news late global |
| global | global outlookther good news late | global | financi market condit improv past |
| market | good news late global financi | market | condit improv past six month |
| global | favor condit reflect combin deeper | global | polici commit renew monetari stimulus |
| polici | condit reflect combin deeper global | polici | commit renew monetari stimulus continu |
| econom | confid reduc tail risk bolster | econom | outlook nevertheless global econom condit |
| global | risk bolster econom outlook nevertheless | global | econom condit remain subdu clear |
| econom | bolster econom outlook nevertheless global | econom | condit remain subdu clear policymak |
| need | condit remain subdu clear policymak | need | take action address under stabil |
| econom | stabil risk promot continu improv | econom | outlook requir balanc sheet repair |
| need | sheet repair financi sector bank | need | remov dead wood address asset |
| need | fresh capit bank prove nonviabl | need | wound order manner bank sector |
| global | challeng adequ address recent ralli | global | market may prove unsustain still |
| market | adequ address recent ralli global | market | may prove unsustain still fragil |
| global | recent confid gain g led | global | regulatori reform process must protect |
| need | reform process must protect policymak | need | maintain reform momentum start implement |
| countri | new rule signific progress g | countri | start implement socal basel iii |
| global | framework identifi set capit surcharg | global | system import bank gsib agre |
| market | sib guidanc monitor regul money | market | fund publish global financi system |
| global | regul money market fund publish | global | financi system safer five year |
| global | feel protect progress agre implement | global | regulatori reform agenda view gradual |
| countri | reform agenda view gradual mani | countri | bank system remain weak pace |
| need | system remain weak pace reform | need | adjust ensur bank abl regain |
| economi | bank abl regain strength lend | economi | area gradual progress reform reflect |
| global | lack agreement specif issu coher | global | consensus yet emerg pull nation |
| market | busi decis potenti fund credit | market | becom strain rais overal system |
| economi | rais overal system risk spill | economi | let address turn critic issu |
| global | level could add delay dilut | global | minimum standard particular worri delay |
| countri | anoth concern signific differ across | countri | bank calcul basic basel iii |
| need | provis appropri capit buffer bank | need | issu greater loss absorb capit |
| econom | lower financi stress higher stabl | econom | growth particular true case buffer |
| growth | financi stress higher stabl econom | growth | particular true case buffer consist |
| market | progress achiev regard reform deriv | market | wider use deriv clear hous |
| market | counterparti increas transpar overthecount deriv | market | help make financi system whole |
| global | prepar firmspecif recoveri resolut plan | global | system import financi institut gsifi |
| need | system import financi institut gsifi | need | proceed jurisdict implement reform meet |
| global | regim resolut regimesth imf encourag | global | system financi center agre crossbord |
| need | includ scenario public fund would | need | least temporari basi nation initi |
| global | yet deep assess cost benefit | global | impact coordin measur essenti prevent |
| market | posit guidanc monitor regul money | market | fund publish remain littl consensus |
| polici | littl consensus implement urgenc particular | polici | recommend due time g st |
| global | disclosureon area particular troubl mani | global | stakehold lack movement toward singl |
| global | lack movement toward singl set | global | high qualiti principlebas financi report |
| countri | risk transfer financi asset moreov | countri | includ european union adopt intern |
| countri | four area first adopt ifr | countri | includ major economi u japan |
| economi | adopt ifr countri includ major | economi | u japan happen second inconsist |
| market | g target given impact financi | market | four converg project time complet |
| financ | alon conduct exercis norwegian ministri | financ | mof ask regul examin risk |
| global | risk weight variat across bank | global | someth eba undertak soon support |
| also | simpli impress rule regul matter | also | need stronger supervisor provid requisit |
| need | impress rule regul matter also | need | stronger supervisor provid requisit oversight |
| global | activ firm extrem challeng mani | global | natur often includ complex activ |
| countri | basisth potenti spillov home host | countri | larg intern financi group bank |
| global | spillov system risk runup recent | global | financi crisi mani nation author |
| polici | press ahead implement new macroprudenti | polici | identifi mitig risk financi system |
| polici | nation decis institut oper aspect | polici | imf heavili involv develop new |
| polici | involv develop new macroprudenti framework | polici | support implement integr new concept |
| economi | play key role support real | economi | unfortun bank employe tar brush |
| countri | initi align risk reward encourag | countri | pursu polici line fsb principl |
| polici | risk reward encourag countri pursu | polici | line fsb principl compens conclusioni |
| need | conclusioni hope convinc much still | need | achiev area financi regulatori reform |
| global | financi regulatori reform imf togeth | global | stakehold help g identifi key |
| need | bottleneck establish action plan remov | need | ensur regulatori reform strengthen global |
| global | need ensur regulatori reform strengthen | global | financi stabil financi system support |
| growth | system support macroeconomi help bring | growth | trade job desir imf support |
| global | capac coordin develop harmon implement | global | financi regulatori polici hope count |
| polici | harmon implement global financi regulatori | polici | hope count support import work |
| global | success reform process thank see | global | financi stabil report chapter april |
| global | april forthcom detail chapter chang | global | financi structur improv econom outcom |
| econom | chang global financi structur improv | econom | outcom gfsr octob imf public |
| countri | riskweight asset rwas differ across | countri | done imf work paper wp |
| market | programm rcap analysi riskweight asset | market | risk februari www bis orgpubl |
| global | februari sarah dahlgren supervisori reform | global | bank feder reserv bank new |
| polici | jose vinal imfdirect blog macroprudenti | polici | fill black hole http blogimfdirect |
| global | imfdirect blog time spring clean | global | economi thank februari mark carney |
| economi | blog time spring clean global | economi | thank februari mark carney rebuild |
| global | februari mark carney rebuild trust | global | bank bank canada februari |
| countri | chaird great pleasur proud remark | countri | beauti bustl citi cultur hallow |
| also | noonan kind word introduct let | also | thank institut intern european affair |
| countri | french might find tomorrow alway | countri | great resili reinvent great human |
| econom | put irish peopl born burden | econom | crisi remark courag patienc quiet |
| growth | moment histori presid theme stabil | growth | job exact right focus also |
| also | growth job exact right focus | also | want talk today specif believ |
| growth | today specif believ restor stabil | growth | job ireland across european union |
| need | three issu irish dimens ireland | need | restor stabil growth job shortterm |
| growth | dimens ireland need restor stabil | growth | job shortterm european dimens support |
| econom | job shortterm european dimens support | econom | recoveri mediumterm european dimens build |
| econom | dimens familiar rise fall irish | econom | miracl real celtic tiger soon |
| need | see outset strong polit implement | need | polici govern one last took |
| polici | outset strong polit implement need | polici | govern one last took hold |
| polici | stay driver seat help help | polici | advic base year experi countri |
| countri | polici advic base year experi | countri | help financ lend other walk |
| financ | base year experi countri help | financ | lend other walk away lessen |
| economi | equiti behav respons servic real | economi | progress date impress size bloat |
| also | burden share subordin debt holder | also | point rigor transpar stress test |
| also | recapit serv model other govern | also | made huge stride budget difficult |
| growth | said earlier ireland effort pay | growth | come back expect economi expand |
| economi | pay growth come back expect | economi | expand percent year still weak |
| countri | two year better european union | countri | crucial ireland return bond market |
| market | countri crucial ireland return bond | market | access continu improv year despit |
| economi | peig sayer might say irish | economi | one foot grave foot edg |
| need | small mediums enterpris get fund | need | expand hire sector account percent |
| need | account percent irish employ fundament | need | bring bank borrow togeth find |
| need | oblig citizen given budgetari realiti | need | focus meet core public need |
| need | need focus meet core public | need | especi import servic like health |
| need | share burden fair protect greatest | need | one reason support pend residenti |
| economi | percent two year vital issu | economi | peopl without job long period |
| need | long period tend lose skill | need | renew effort help peopl find |
| growth | help peopl find job higher | growth | obvious precondit job come back |
| also | project part fund eib help | also | need revit employ servic focus |
| need | part fund eib help also | need | revit employ servic focus right |
| growth | area must alway rememb stabil | growth | ultim servic job peopl three |
| economi | dimens support recoveryof cours irish | economi | oper vacuum deepli embed within |
| also | peac share prosper europ destini | also | ireland destini taoiseach put eloqu |
| growth | requir european level restor stabil | growth | job across contin turn great |
| market | higher job incom might help | market | yet help peopl under problem |
| growth | differ sector struggl shake millston | growth | bound suffer inde expect continu |
| polici | recess eurozon year circumst macroeconom | polici | help support demand particular import |
| countri | sustain adequ level demand partner | countri | mean practic mean monetari polici |
| polici | countri mean practic mean monetari | polici | remain accommod believ still limit |
| polici | outright monetari transact help monetari | polici | work better sustain fiscal adjust |
| financ | sustain fiscal adjust effort reduc | financ | cost countri face sever market |
| countri | adjust effort reduc financ cost | countri | face sever market constraint also |
| market | financ cost countri face sever | market | constraint also think program countri |
| also | countri face sever market constraint | also | think program countri right track |
| countri | market constraint also think program | countri | right track receiv support help |
| market | track receiv support help regain | market | access reduc depend offici assist |
| polici | reduc depend offici assist fiscal | polici | trickier public debt high direct |
| also | order support recoveri measur steadi | also | mean come credibl mediumterm plan |
| growth | rise spend due sole slower | growth | believ current fiscal framework europ |
| growth | balanc mean lower inflat wage | growth | south also might mean allow |
| also | lower inflat wage growth south | also | might mean allow somewhat higher |
| growth | allow somewhat higher inflat wage | growth | countri afford aspect paneuropean solidar |
| countri | somewhat higher inflat wage growth | countri | afford aspect paneuropean solidar one |
| need | aspect paneuropean solidar one thing | need | make sure spark demand fuel |
| growth | sure spark demand fuel sustain | growth | mean reform boost suppli capac |
| economi | mean reform boost suppli capac | economi | imf done interest work found |
| market | interest work found largescal product | market | labor pension reform across europ |
| econom | year ahead mani way european | econom | crisi crisi incomplet integr eurozon |
| market | wellfunct part harmoni whole singl | market | singl monetari polici dispers supervis |
| polici | whole singl market singl monetari | polici | dispers supervis bank limit fiscal |
| economi | lead ruinous sovereign bank real | economi | death loop function bank union |
| also | end fragment make monetari union | also | includ sustain strong fiscal union |
| polici | stop deposit flight make monetari | polici | work better issu solidar bank |
| also | much poor supervis bank europ | also | lent much two side coin |
| need | lent much two side coin | need | corespons start common supervis import |
| need | duti power account must resourc | need | job singl supervisor enough need |
| need | need job singl supervisor enough | need | singl resolut author restructur shut |
| need | includ share burden privat sector | need | common safeti net common deposit |
| need | common deposit fund sustain confid | need | common backstop deal system problem |
| countri | troubl bank might big one | countri | handl direct recapit european stabil |
| econom | help insul govern potenti drain | econom | situat get wors also help |
| also | drain econom situat get wors | also | help govern bank access market |
| market | also help govern bank access | market | better term talk prevent pool |
| econom | integr lead stronger safer success | econom | monetari union sure interest conclusionlet |
| also | dream still much aliv yeat | also | said dream begin respons respons |
| econom | turn mean institut involv shape | econom | polici end exampl illustr sweep |
| polici | mean institut involv shape econom | polici | end exampl illustr sweep chang |
| countri | intern monetari fund engag member | countri | support econom reform look forward |
| econom | fund engag member countri support | econom | reform look forward hear thought |
| global | learn protest collabor today billion | global | social media user countri would |
| countri | billion global social media user | countri | would largest world billion mobil |
| countri | penetr india africa phenomenon rich | countri | even poorest countri world hyperconnect |
| countri | phenomenon rich countri even poorest | countri | world hyperconnect hyperconnect world turn |
| polici | world turn transform world influenc | polici | shape poll edelman trust show |
| polici | morn gave speech health fiscal | polici | quot blog guardian minut walk |
| global | connect transcend geograph polit border | global | human peopl may longer trust |
| polici | anoth theme shape world communic | polici | rise virtual middl classther anoth |
| polici | risk wisdom cyber crowd rule | polici | swing volatil way influenc sudden |
| also | way influenc sudden digit wildfir | also | danger cyber attack cyber terror |
| also | line world next year hyperconnect | also | like hyperdemocrat develop major implic |
| countri | stabil intern monetari system cooper | countri | pool resourc support time econom |
| econom | countri pool resourc support time | econom | distress support member offer polici |
| polici | econom distress support member offer | polici | advic extend loan countri econom |
| countri | offer polici advic extend loan | countri | econom difficulti provid technic knowhow |
| econom | polici advic extend loan countri | econom | difficulti provid technic knowhow expertis |
| need | imf role speak inconveni truth | need | spoken put number tabl make |
| need | number tabl make object recommend | need | done often recip popular histori |
| also | advisor let govern talk public | also | view govern often need someon |
| need | public also view govern often | need | someon blame tough decis take |
| countri | board meet secret team travel | countri | never spoke press one resid |
| countri | press one resid repres african | countri | reprimand boss name appear one |
| polici | asian crisi late fund made | polici | mistak asia compound failur communic |
| polici | asia compound failur communic rational | polici | correct imf learn hard lesson |
| countri | web team mandat outreach visit | countri | resid repres train encourag communic |
| global | challeng task communic great recessionth | global | econom crisi aftermath compound difficulti |
| econom | task communic great recessionth global | econom | crisi aftermath compound difficulti navig |
| countri | crisi design rescu scheme mani | countri | europ mobil resourc strengthen war |
| countri | chest trillion dollar tri support | countri | middl east govern toppl advis |
| countri | middl east govern toppl advis | countri | across world cope crisi advis |
| countri | world cope crisi advis mani | countri | spend could avoid risk depress |
| econom | fact chang chang mind difficult | econom | polit social context fund tread |
| polici | societi organ group often disagre | polici | govern let briefli describ four |
| countri | greec central bank icelandiceland first | countri | experi full forc global econom |
| global | first countri experi full forc | global | econom crisi bank sector grown |
| econom | countri experi full forc global | econom | crisi bank sector grown five |
| economi | sector grown five time size | economi | collaps imf call help novemb |
| also | trade union import partner parliament | also | work alongsid govern explain program |
| growth | via twitter blog first half | growth | recov percent gdp unemploy come |
| countri | imf role provid jordan dozen | countri | subsid energi convinc empir evid |
| also | valuabl invest educ health infrastructur | also | understand phase subsidi take time |
| countri | subsidi take time import give | countri | space build polit consensus reform |
| growth | wage take wage outpac product | growth | year unit labor cost key |
| economi | sinc start drive make greec | economi | competit unit labor cost drop |
| also | term spend tax measur fund | also | insist tackl tax evas improv |
| econom | tri includ unconvent thing support | econom | recoveri econom student textbook taught |
| econom | unconvent thing support econom recoveri | econom | student textbook taught us central |
| polici | us central bank implement monetari | polici | open market oper buy sell |
| market | bank implement monetari polici open | market | oper buy sell govern paper |
| market | bank often buy anyth move | market | say someth perhap best exampl |
| countri | interest rate paid southern european | countri | challeng opportunitieslet conclud note take |
| also | conclud note take new approach | also | learn mani peopl realli know |
| also | think good job push govern | also | made prioriti better explain fund |
| also | million follow whenev possibl fund | also | tri speak peopl languag sinc |
| also | french japanes spanish russian fund | also | launch spanish arab blog featur |
| also | key issu face two region | also | face challeng speak one voic |
| global | time intern debat messag key | global | issu make sure key staff |
| also | messag consist way wherev planet | also | face challeng coordin messag partner |
| financ | case work close eurogroup compos | financ | minist european commiss european central |
| economi | macroeconom framework deliv sustain path | economi | journalist get fed ask us |
| global | evolv respons experi especi recent | global | econom crisi intergovernment organ work |
| econom | respons experi especi recent global | econom | crisi intergovernment organ work non |
| need | prioriti one lesson cannot ignor | need | listen reach make sure peopl |
| polici | well book lexus oliv tree | polici | sustain without public broad understand |
| economi | tour land public debt advanc | economi | pretti land fiscal account mani |
| countri | land fiscal account mani advanc | countri | weakest state sinc well one |
| also | evalu cours give guid tour | also | present view imf best cross |
| global | imf first time histori call | global | fiscal expans across countri could |
| countri | call global fiscal expans across | countri | could afford never happen monetari |
| polici | could afford never happen monetari | polici | seen tool respond deceler econom |
| econom | polici seen tool respond deceler | econom | activ fiscal polici chang view |
| polici | respond deceler econom activ fiscal | polici | chang view role fiscal polici |
| polici | polici chang view role fiscal | polici | reflect three consider call fiscal |
| financ | expans spite fact state public | financ | particular good histor standard alreadi |
| economi | public debt gdp ratio advanc | economi | histor peak figur result trend |
| economi | sinc mid involv major advanc | economi | except u k canada figur |
| economi | situat realli differ across advanc | economi | classifi advanc economi three group |
| economi | across advanc economi classifi advanc | economi | three group figur first includ |
| countri | three group figur first includ | countri | alreadi manag stop rise public |
| countri | debt ratio respect averag balanc | countri | group surplus balanc move small |
| countri | alreadi thing brought control individu | countri | sweden switzerland best perform second |
| countri | best perform second group includ | countri | fiscal account also fair good |
| also | group includ countri fiscal account | also | fair good shape debt ratio |
| countri | figur third group includ ten | countri | fiscal pressur sever figur countri |
| countri | countri fiscal pressur sever figur | countri | start crisi weaker fiscal posit |
| countri | enough stop increas public debt | countri | group debt ratio higher percent |
| economi | gdp talk fiscal problem advanc | economi | talk primarili ten countri good |
| countri | advanc economi talk primarili ten | countri | good news number larg bad |
| countri | news number larg bad news | countri | repres percent advanc economi gdp |
| economi | news countri repres percent advanc | economi | gdp percent world gdp evalu |
| countri | fiscal adjust come year focus | countri | difficult countri bring fiscal account |
| countri | come year focus countri difficult | countri | bring fiscal account control medium |
| financ | thing first mean bring public | financ | control second assumpt make interest |
| growth | second assumpt make interest rate | growth | regard first question mean bring |
| financ | first question mean bring public | financ | control stabil debt gdp ratio |
| growth | stabl assum posit interest rate | growth | differenti govern inter tempor budget |
| countri | debt current level would leav | countri | expos confid shock given possibl |
| growth | behind threshold percent lower potenti | growth | percent everi percentag point gdp |
| growth | lot depend assumpt interest rate | growth | interest rate public debt affect |
| growth | debt affect speed debt accumul | growth | rate gdp affect denomin public |
| economi | debt gdp ratio histor advanc | economi | debt gdp ratio averag  |
| economi | reflect increas save come emerg | economi | contribut lower interest rate precrisi |
| growth | interest rate basi point said | growth | rate negat affect expect differenti |
| econom | net interest payment adjust effect | econom | cycl reach requir level stay |
| need | implement adjust improv primari balanc | need | level primari balanc follow case |
| economi | target figur show main advanc | economi | need fiscal adjust result possibl |
| need | figur show main advanc economi | need | fiscal adjust result possibl combin |
| countri | see sever thing figur even | countri | lower public debt requir larg |
| countri | level long time moreov mani | countri | speak swim tide also necessari |
| also | mani countri speak swim tide | also | necessari introduc polici contain rise |
| polici | swim tide also necessari introduc | polici | contain rise spend pension health |
| countri | care project occur particular strong | countri | like unit state second rank |
| countri | debt year percentag point gdp | countri | except itali japan effect would |
| need | would larger figur trivial effect | need | add percentag point come increas |
| countri | far solv whole problem addit | countri | like itali would posit decid |
| countri | rate part currenc area way | countri | would benefit much less inflat |
| countri | erod valu debt ratio help | countri | context relax monetari condit interest |
| economi | rate larg negat mani advanc | economi | doubt possibl push use inflat |
| market | aris loss credibl difficulti return | market | addit cost forget default tax |
| countri | abroad tax fall foreign present | countri | like spain itali tax would |
| growth | act much possibl rais potenti | growth | rate though structur reform boost |
| market | structur reform boost product labor | market | particip effect growth debt gdp |
| growth | product labor market particip effect | growth | debt gdp ratio go denomin |
| also | gdp ratio go denomin ratio | also | numer go beyond effect rg |
| economi | reason easier run primari surplus | economi | larg potenti growth rate inde |
| growth | primari surplus economi larg potenti | growth | rate inde revenu aris higher |
| growth | rate inde revenu aris higher | growth | save impact debt ratio huge |
| countri | debt ratio huge illustr consid | countri | debt ratio percent tax ratio |
| countri | percent tax ratio percent gdp | countri | manag rais potenti growth percentag |
| growth | gdp countri manag rais potenti | growth | percentag point save addit revenu |
| growth | lower almost point gdp figur | growth | huge effect debt ratio second |
| countri | debt high recent experi european | countri | show easi fall bad equilibrium |
| polici | suffici specif provid certainti futur | polici | action defin cyclic adjust term |
| econom | allow automat stabil oper support | econom | activ advanc economi defin plan |
| economi | oper support econom activ advanc | economi | defin plan various degre specif |
| countri | consider magnitud initi fiscal imbal | countri | larger imbal adjust rapid intens |
| market | larger imbal adjust rapid intens | market | pressur countri market pressur adjust |
| countri | adjust rapid intens market pressur | countri | market pressur adjust rapid state |
| market | rapid intens market pressur countri | market | pressur adjust rapid state economi |
| economi | market pressur adjust rapid state | economi | particular countri subject market pressur |
| countri | adjust rapid state economi particular | countri | subject market pressur adopt credibl |
| market | state economi particular countri subject | market | pressur adopt credibl mediumterm adjust |
| economi | polit affect size govern role | economi | two consider offer respect fourth |
| polici | fourth final compon relax monetari | polici | long fiscal adjust proceed argu |
| polici | contractionari effect therefor import monetari | polici | continu support econom activ much |
| econom | import monetari polici continu support | econom | activ much possibl also import |
| also | support econom activ much possibl | also | import long demand liquid remain |
| market | central bank benefit govern paper | market | two way first lower direct |
| need | lower direct suppli govern paper | need | purchas privat sector second maintain |
| market | sector second maintain high liquid | market | provid role lender last resort |
| need | said high inflat rate would | need | main tool fiscal adjust emphas |
| market | monetari condit support govern paper | market | continu long fiscal adjust proceed |
| financ | fiscal adjust proceed central bank | financ | cannot seen substitut fiscal adjust |
| financ | adjust said effect central bank | financ | break selffulfil expect made appar |
| financ | ecb general surg central bank | financ | govern one good exampl u |
| financ | bank england last four year | financ | three quarter u k treasuri |
| economi | figur let conclud sever advanc | economi | least discuss fiscal account still |
| countri | fiscal account still fragil state | countri | take decad lower public debt |
| countri | debt crisi case level expos | countri | risk task imposs good shortcut |
| growth | m j woo public debt | growth | imf work paper washington intern |
| countri | term frontier use group lessdevelop | countri | experienc prolong period growth inde |
| growth | lessdevelop countri experienc prolong period | growth | inde countri repres confer experienc |
| countri | experienc prolong period growth inde | countri | repres confer experienc averag growth |
| growth | countri repres confer experienc averag | growth | percent year past two decad |
| global | surpass china india sinc onset | global | financi crisi asia demonstr extraordinari |
| econom | financi crisi asia demonstr extraordinari | econom | resili emerg import engin global |
| global | econom resili emerg import engin | global | growth sourc stabil world attent |
| growth | resili emerg import engin global | growth | sourc stabil world attent tend |
| economi | attent tend focus region largest | economi | anoth import develop achiev frontier |
| econom | asian success stori theme confer | econom | transform inclus growth time sure |
| growth | theme confer econom transform inclus | growth | time sure look forward tomorrow |
| polici | confer purpos share experi discuss | polici | help acceler progress countri repres |
| countri | discuss polici help acceler progress | countri | repres challeng face work policymak |
| econom | common theme moreov clear asia | econom | fate increas tie region cooper |
| also | tie region cooper hope exchang | also | help strengthen tie prospect frontier |
| econom | within asia world recent polit | econom | chang myanmar usher onto stage |
| economi | myanmar usher onto stage anoth | economi | great potenti event past four |
| countri | half year underscor much individu | countri | influenc global econom financi market |
| global | underscor much individu countri influenc | global | econom financi market develop highlight |
| econom | much individu countri influenc global | econom | financi market develop highlight impress |
| market | countri influenc global econom financi | market | develop highlight impress gain period |
| also | develop highlight impress gain period | also | suggest great deal still depend |
| economi | moment discuss recent trend world | economi | global outlookth imf releas latest |
| global | discuss recent trend world economi | global | outlookth imf releas latest updat |
| econom | imf releas latest updat world | econom | outlook project hearten frustrat hearten |
| global | outlook project hearten frustrat hearten | global | economi appear emerg danger zone |
| economi | project hearten frustrat hearten global | economi | appear emerg danger zone prolong |
| growth | recoveri remain weak unsteadi world | growth | project reach percent littl higher |
| polici | year still signific previous period | polici | action lower acut crisi risk |
| growth | return recess stimulus expect boost | growth | near term u like achiev |
| growth | term u like achiev percent | growth | consumpt firm respons slow turnaround |
| market | firm respons slow turnaround hous | market | support financi market u continu |
| market | turnaround hous market support financi | market | u continu face consider uncertainti |
| market | stalem longterm fiscal issu emerg | market | develop countri polici support modest |
| countri | fiscal issu emerg market develop | countri | polici support modest pickup growth |
| polici | issu emerg market develop countri | polici | support modest pickup growth economi |
| growth | countri polici support modest pickup | growth | economi other continu struggl weak |
| economi | polici support modest pickup growth | economi | other continu struggl weak extern |
| economi | extern demand domest bottleneck believ | economi | track grow percent still back |
| growth | grow percent still back high | growth | rate saw develop advanc economi |
| economi | growth rate saw develop advanc | economi | great impact global polici prioritiesth |
| global | develop advanc economi great impact | global | polici prioritiesth first prioriti must |
| polici | advanc economi great impact global | polici | prioritiesth first prioriti must follow |
| polici | prioritiesth first prioriti must follow | polici | put global uncertainti rest key |
| global | prioriti must follow polici put | global | uncertainti rest key common challeng |
| countri | key common challeng among advanc | countri | restor fiscal sustain introduc mediumterm |
| countri | bring public debt pace attun | countri | circumst undermin recoveri second prioriti |
| growth | ultim goal financi sector support | growth | real economi one behav differ |
| economi | financi sector support growth real | economi | one behav differ crisi third |
| global | one behav differ crisi third | global | prioriti new focus real economi |
| economi | global prioriti new focus real | economi | exampl crisi never long unemploy |
| need | high million peopl work today | need | also growth inclus combat rise |
| also | million peopl work today need | also | growth inclus combat rise inequ |
| growth | peopl work today need also | growth | inclus combat rise inequ prioriti |
| growth | inclus minimum wage certain situat | growth | must also balanc continu shift |
| also | wage certain situat growth must | also | balanc continu shift demand advanc |
| countri | balanc continu shift demand advanc | countri | emerg market also environment perspect |
| market | shift demand advanc countri emerg | market | also environment perspect includ address |
| also | demand advanc countri emerg market | also | environment perspect includ address increas |
| global | chang mean frontier asia mani | global | issu relev frontier asia policymak |
| countri | asia homogen group includ commodityrich | countri | manufactur export remittancedepend economi number |
| economi | commodityrich countri manufactur export remittancedepend | economi | number common macroeconom financi structur |
| need | frontier asia let highlight three | need | acceler reform econom develop critic |
| econom | highlight three need acceler reform | econom | develop critic involv dynam realloc |
| growth | agricultur manufactur turn accompani rapid | growth | howev sustain high growth rate |
| growth | rapid growth howev sustain high | growth | rate reform must intensifi without |
| econom | delay includ strengthen institut transform | econom | sector allow countri move valu |
| countri | institut transform econom sector allow | countri | move valu chain continu full |
| growth | frontier asia experienc strong credit | growth | last decad financi sector develop |
| growth | system misalloc resourc undermin stabil | growth | prospect countri among measur requir |
| countri | resourc undermin stabil growth prospect | countri | among measur requir financi sector |
| econom | third challeng ensur citizen benefit | econom | growth despit strong econom growth |
| growth | challeng ensur citizen benefit econom | growth | despit strong econom growth incom |
| econom | benefit econom growth despit strong | econom | growth incom inequ frontier asia |
| growth | econom growth despit strong econom | growth | incom inequ frontier asia increas |
| growth | negat consequ poverti reduct inclus | growth | said earlier made mani impress |
| also | earlier made mani impress gain | also | look way mitig impact problem |
| economi | way mitig impact problem advanc | economi | also slower growth emerg market |
| also | mitig impact problem advanc economi | also | slower growth emerg market economi |
| growth | problem advanc economi also slower | growth | emerg market economi experienc goal |
| market | economi also slower growth emerg | market | economi experienc goal clear join |
| economi | also slower growth emerg market | economi | experienc goal clear join next |
| market | clear join next generat emerg | market | move stage develop present mani |
| countri | asia depend first foremost effort | countri | govern busi sector peopl outsid |
| financ | provid assist crucial develop term | financ | knowhow regard japan activ partner |
| also | mention vice presid kodera imf | also | stand readi partner togeth jica |
| econom | assist put place condit continu | econom | progress primari object well known |
| growth | macroeconom stabil implement reform enhanc | growth | benefit citizen pursuit goal strengthen |
| polici | increas bilater crosscountri analysi welltailor | polici | advic also seek way enhanc |
| also | crosscountri analysi welltailor polici advic | also | seek way enhanc effort strengthen |
| also | thailand support collabor set offic | also | continu offer rang program train |
| also | expand technic assist capac let | also | point reform imf lend facil |
| countri | reform imf lend facil lowincom | countri | creat new lend facil could |
| countri | could use frontier asia coupl | countri | alreadi take advantag facil flexibl |
| need | facil flexibl bettertailor increas divers | need | develop countri depend circumst natur |
| countri | bettertailor increas divers need develop | countri | depend circumst natur balanc payment |
| financ | structur reform mediumterm provid precautionari | financ | reinforc effect polici respond shock |
| polici | provid precautionari financ reinforc effect | polici | respond shock relat sudden increas |
| countri | creat progress essenti prosper wellb | countri | would like thank join us |
| global | know still deepli concern state | global | economi stand well thank polici |
| economi | still deepli concern state global | economi | stand well thank polici action |
| polici | global economi stand well thank | polici | action taken past year seen |
| econom | imf announc hour ago world | econom | outlook expect global growth  |
| global | ago world econom outlook expect | global | growth  ½ percent year |
| growth | world econom outlook expect global | growth | Â ½ percent year much |
| need | recent bear repeat avoid collaps | need | guard relaps makeorbreak year know |
| polici | year know imper keep momentum | polici | action need put uncertainti rest |
| need | imper keep momentum polici action | need | put uncertainti rest mean euro |
| countri | continu difficult necessari fiscal adjust | countri | level support demand especi monetari |
| polici | togeth nation interest avoid avoid | polici | mistak fail agre increas debt |
| economi | mediumterm debt reduct emerg develop | economi | fare better despit concern continu |
| economi | turmoil lack decis action advanc | economi | condit differ great vulner other |
| need | condit differ great vulner other | need | rebuild polici space use allevi |
| polici | great vulner other need rebuild | polici | space use allevi crisi recent |
| global | view look longer horizon new | global | economi take shape eye past |
| economi | look longer horizon new global | economi | take shape eye past month |
| also | vantag point world challeng yes | also | world resili dynam burn question |
| need | meet aspir peopl answer question | need | reflect upon megatrend shape futur |
| econom | leader ponder issu includ world | econom | forum would submit follow four |
| global | differ generat wean immediaci democraci | global | reach social media consid scale |
| countri | one billion million user respect | countri | would rd th largest nation |
| global | greater opennesslet begin open generat | global | generat open generat open world |
| global | generat open world idea common | global | communiti sens realli old lesson |
| countri | realli old lesson new era | countri | transcend narrow nation interest come |
| global | narrow nation interest come togeth | global | good everybodi win reason imf |
| global | principl import today ever era | global | cooper need hardwir psych policymak |
| need | today ever era global cooper | need | hardwir psych policymak saw clear |
| econom | policymak saw clear crisi world | econom | jitter one region market instant |
| market | world econom jitter one region | market | instant repercuss across globe flat |
| econom | across globe flat world room | econom | silo old instinct die hard |
| countri | hard first hint improv sentiment | countri | entic retreat allur comfort backyard |
| global | other anachronist mindset illsuit modern | global | economi contrari open remov barrier |
| economi | anachronist mindset illsuit modern global | economi | contrari open remov barrier proven |
| economi | firm get access credit make | economi | safer provid insur advers develop |
| econom | virtuous circl higher product enhanc | econom | divers greater resili extern turmoil |
| countri | extern turmoil take maghreb exampl | countri | region small togeth form vibrant |
| market | region small togeth form vibrant | market | million peopl offer limitless possibl |
| also | understand link arm unlock sword | also | unlock million avenu mutual gain |
| economi | avenu mutual gain yes european | economi | face serious issu need address |
| need | european economi face serious issu | need | address deeper bank fiscal union |
| global | major aspir new generat new | global | economi stronger inclus closeknit world |
| economi | aspir new generat new global | economi | stronger inclus closeknit world participatori |
| econom | justic demand must met mean | econom | policymak mean need fair econom |
| need | met mean econom policymak mean | need | fair econom life inclus numer |
| econom | econom policymak mean need fair | econom | life inclus numer dimens core |
| growth | inclus numer dimens core relat | growth | sure learn longer enough focus |
| growth | sure learn longer enough focus | growth | alon need peopl share rise |
| need | longer enough focus growth alon | need | peopl share rise prosper token |
| econom | rise prosper token share fair | econom | adjust need achiev restor prosper |
| need | token share fair econom adjust | need | achiev restor prosper franklin roosevelt |
| growth | whether provid enough littl inclus | growth | certain top concern policymak messag |
| econom | wide surpris therefor see world | econom | forum recent survey put sever |
| global | put sever incom dispar top | global | risk next decad excess inequ |
| growth | next decad excess inequ corros | growth | corros societi believ econom profess |
| econom | corros growth corros societi believ | econom | profess polici communiti downplay inequ |
| polici | corros societi believ econom profess | polici | communiti downplay inequ long us |
| econom | understand equal distribut incom allow | econom | stabil sustain econom growth healthier |
| econom | incom allow econom stabil sustain | econom | growth healthier societi stronger bond |
| growth | allow econom stabil sustain econom | growth | healthier societi stronger bond cohes |
| growth | find less clear achiev inclus | growth | practic certain univers access decent |
| polici | nonnegoti start point beyond believ | polici | robust social safeti net extend |
| growth | case minimum wage help inclus | growth | must also jobrich growth realli |
| also | wage help inclus growth must | also | jobrich growth realli symbiot relationship |
| growth | inclus growth must also jobrich | growth | realli symbiot relationship need growth |
| need | jobrich growth realli symbiot relationship | need | growth job job growth right |
| growth | growth realli symbiot relationship need | growth | job job growth right million |
| growth | relationship need growth job job | growth | right million peopl look work |
| global | potenti think women control percent | global | consum spend studi point econom |
| econom | global consum spend studi point | econom | benefit full femal particip labor |
| economi | full femal particip labor forc | economi | societi one recent studi estim |
| economi | evid clear messag women better | economi | better policymak econom leader must |
| econom | women better economi better policymak | econom | leader must better support women |
| need | obstacl mind one point inclus | need | greater sens solidar across generat |
| need | greater sens solidar across generat | need | cogniz legaci leav come us |
| economi | around percent gdp among advanc | economi | highest level sinc world war |
| econom | climat chang view far greatest | econom | challeng st centuri scienc sober |
| global | challeng st centuri scienc sober | global | temperatur among hottest sinc record |
| need | concert action futur planet peril | need | growth also need green growth |
| growth | action futur planet peril need | growth | also need green growth respect |
| also | futur planet peril need growth | also | need green growth respect environment |
| need | planet peril need growth also | need | green growth respect environment sustain |
| growth | need growth also need green | growth | respect environment sustain good ecolog |
| econom | environment sustain good ecolog good | econom | one reason get carbon price |
| global | turn third last principl new | global | economi better account new generat |
| economi | third last principl new global | economi | better account new generat demand |
| also | must account citizen citizen must | also | knowledg educ train need hold |
| need | must also knowledg educ train | need | hold account mutual respons mean |
| econom | hold account mutual respons mean | econom | life public sector privat sector |
| econom | sector learn good govern bedrock | econom | success without strong institut good |
| polici | success without strong institut good | polici | cannot develop implement zero toler |
| need | rather master peopl meet basic | need | provid enabl environ privat sector |
| also | privat sector thrive privat sector | also | need account goal privat sector |
| need | sector thrive privat sector also | need | account goal privat sector cannot |
| also | privat sector cannot profit must | also | add valu creat job develop |
| economi | job develop new idea drive | economi | forward vest interest arbitrag typic |
| global | client sharehold societi general know | global | econom crisi mani respect govern |
| econom | sharehold societi general know global | econom | crisi mani respect govern crisi |
| economi | shortterm gain ahead support real | economi | plato said long ago excess |
| need | produc chang opposit direct frank | need | see chang finish job financi |
| also | resolut shadow bank deriv must | also | move direct prudent compens practic |
| need | prudent compens practic ultim account | need | financi sector account real economi |
| economi | need financi sector account real | economi | one add valu destroy one |
| also | destroy one final point account | also | relat intern financi institut like |
| global | reach stakehold recogn profound chang | global | economi push ahead govern reform |
| economi | stakehold recogn profound chang global | economi | push ahead govern reform countri |
| countri | economi push ahead govern reform | countri | fair stake run institut end |
| countri | end day job servic member | countri | must account even citizen countri |
| countri | countri must account even citizen | countri | hold us right new standard |
| global | crisi believ stand antechamb new | global | economi mark rapid shift circumst |
| economi | believ stand antechamb new global | economi | mark rapid shift circumst new |
| economi | new mode think yes new | economi | geograph differ driven dynam emerg |
| market | geograph differ driven dynam emerg | market | develop countri also generate differ |
| countri | driven dynam emerg market develop | countri | also generate differ shape differ |
| also | dynam emerg market develop countri | also | generate differ shape differ valu |
| need | differ shape differ valu principl | need | today new moment histori embrac |
| global | among peopl stronger account respons | global | economi includ mani peopl room |
| economi | peopl stronger account respons global | economi | includ mani peopl room final |
| growth | burn question like sourc futur | growth | har technolog benefit entir planet |
| econom | digniti greater opportun greater equiti | econom | life need economi maghreb work |
| need | opportun greater equiti econom life | need | economi maghreb work peopl maghreb |
| economi | greater equiti econom life need | economi | maghreb work peopl maghreb need |
| need | economi maghreb work peopl maghreb | need | strong sustain econom growth inclus |
| econom | peopl maghreb need strong sustain | econom | growth inclus growth generous share |
| growth | maghreb need strong sustain econom | growth | inclus growth generous share fruit |
| growth | strong sustain econom growth inclus | growth | generous share fruit growth produc |
| growth | inclus growth generous share fruit | growth | produc enough job satisfi yearn |
| econom | satisfi yearn younger generat old | econom | model task fail provid enabl |
| also | could thrive arab awaken must | also | lead privat sector awaken unleash |
| growth | invest vital part strategi kickstart | growth | set train virtuous circl higher |
| econom | virtuous circl higher product enhanc | econom | divers greater resili extern turmoil |
| econom | continu take step restor maintain | econom | stabil provid solid foundat certainti |
| polici | stay cours sound fiscal monetari | polici | guard real exchang rate overvalu |
| also | exchang rate overvalu import maghreb | also | take step improv invest climat |
| need | expand invest innov creat job | need | break vestig privileg cozi connect |
| econom | concret progress area regul make | econom | sens imparti better qualiti infrastructur |
| need | framework think three specif area | need | attent greater integr greater internation |
| need | regim includ extract industri industri | need | continu cuttingedg invest whole region |
| market | good servic offer limitless possibl | market | million peopl ibn khaldun said |
| market | better invest environ servic maghreb | market | locat servic outsid market greater |
| market | maghreb market locat servic outsid | market | greater internationalizationmi second point greater |
| need | greater internation mean small compani | need | think big nation compani need |
| need | need think big nation compani | need | think intern domest compani need |
| need | need think intern domest compani | need | think part wider region maghrebian |
| need | knowledg experi cours make work | need | standard foreign invest rule across |
| countri | come kind corpor integr exampl | countri | less advanc agrobusi sector algeria |
| countri | realli intrigu possibl engag bric | countri | brazil russia india china new |
| econom | brazil russia india china new | econom | dynamo world stage attract invest |
| countri | stage attract invest bric maghreb | countri | cours continu work improv invest |
| also | climat upgrad skill educ govern | also | proactiv sell mani benefit region |
| also | benefit region make futur diversif | also | anoth angl develop new invest |
| need | part arab awaken new societi | need | new economi better way begin |
| economi | awaken new societi need new | economi | better way begin new economi |
| economi | economi better way begin new | economi | invest open tap wisdom resourc |
| countri | invest open tap wisdom resourc | countri | region ultim lay groundwork everi |
| countri | help along way deepli engag | countri | arab awaken help advic across |
| growth | transit lay basi strong inclus | growth | help loan commit  ½ |
| countri | dollar jordan morocco yemen discuss | countri | help countri like tunisia libya |
| countri | morocco yemen discuss countri help | countri | like tunisia libya capac build |
| economi | build creat secur foundat new | economi | effort initi help outsid partnership |
| economi | speaker honor prime minist minist | economi | financ honor minist honor member |
| financ | honor prime minist minist economi | financ | honor minist honor member nation |
| econom | honor justic suprem court presid | econom | social councilmr chancellorth presid truth |
| also | extend wish entir ivoirien popul | also | want express deep condol tragic |
| countri | ivoir hope bright futur peopl | countri | contin know well africa held |
| econom | sustain durabl develop elus outmod | econom | structur bar door opportun million |
| econom | ivoir vanguard chang done ivoirien | econom | miracl toast africa boast develop |
| market | presid ouattara strive becom emerg | market | economi within next decad mind |
| economi | ouattara strive becom emerg market | economi | within next decad mind let |
| global | let talk three thing morn | global | econom develop destini africa global |
| econom | talk three thing morn global | econom | develop destini africa global economi |
| global | global econom develop destini africa | global | economi cà ´ te d |
| economi | econom develop destini africa global | economi | cà ´ te d ivoir |
| need | cà ´ te d ivoir | need | fulfil destini global econom develop |
| global | d ivoir need fulfil destini | global | econom develop destini africa global |
| econom | ivoir need fulfil destini global | econom | develop destini africa global economylet |
| global | global econom develop destini africa | global | economylet begin global econom develop |
| global | destini africa global economylet begin | global | econom develop expect global recoveri |
| econom | africa global economylet begin global | econom | develop expect global recoveri continu |
| global | begin global econom develop expect | global | recoveri continu next year remain |
| growth | weak subject great uncertainti sign | growth | may stabil global activ seem |
| global | uncertainti sign growth may stabil | global | activ seem stuck low gear |
| economi | region worri right eye advanc | economi | right especi euro area unit |
| econom | africa still relat good place | econom | growth subsaharan africa expect around |
| growth | still relat good place econom | growth | subsaharan africa expect around  |
| global | resili africa resili face worst | global | econom turmoil sinc great depress |
| econom | africa resili face worst global | econom | turmoil sinc great depress saw |
| countri | depress saw right start african | countri | stay strong built strong foundat |
| also | includ imf play import role | also | help growth emerg market held |
| growth | play import role also help | growth | emerg market held especi sinc |
| market | role also help growth emerg | market | held especi sinc nontradit partner |
| countri | develop storm damag might twothird | countri | region abl pursu expansionari polici |
| polici | countri region abl pursu expansionari | polici | crisi let deficit expand instead |
| countri | instead slam hard brake twothird | countri | abl increas real spend health |
| global | educ protect vulner peopl continu | global | uncertainti also threaten africa link |
| also | vulner peopl continu global uncertainti | also | threaten africa link simpli strong |
| global | strong imf research bear sustain | global | slowdown percentag point gdp would |
| growth | percentag point gdp would reduc | growth | subsaharan africa  ¼ percentag |
| global | top varieti homegrown fragil especi | global | warm advanc specter drought associ |
| growth | continu rais ugli head disrupt | growth | econom stabil even wors endang |
| econom | rais ugli head disrupt growth | econom | stabil even wors endang livelihood |
| also | endang livelihood even live secur | also | fragil mani countri especi west |
| countri | live secur also fragil mani | countri | especi west africa without promis |
| econom | invest futur conflict wreak widespread | econom | havoc countri question across neighbor |
| countri | conflict wreak widespread econom havoc | countri | question across neighbor countri true |
| countri | havoc countri question across neighbor | countri | true enemi develop imper africa |
| global | unit state africa passiv player | global | econom game must seiz initi |
| econom | state africa passiv player global | econom | game must seiz initi creat |
| polici | bright none easi strong resolut | polici | see across contin power forc |
| countri | recent intern studi found lowincom | countri | fundsupport program score better growth |
| growth | countri fundsupport program score better | growth | poverti reduct peer look ahead |
| growth | reduct peer look ahead poverti | growth | trust sustain foot mean enough |
| need | enough concession resourc meet member | need | year ahead keep charg zero |
| economi | strength baobab root strength ivoirien | economi | lie deep foundat countri great |
| countri | ivoirien economi lie deep foundat | countri | great histori ingenu initi innov |
| econom | success look past great ivoirien | econom | miracl transform countri independ popul |
| countri | great ivoirien econom miracl transform | countri | independ popul doubl gdp quadrupl |
| econom | half popul live poverti line | econom | strain led polit strain social |
| need | well said peac nation reconcili | need | pursu time fruit econom renew |
| econom | reconcili need pursu time fruit | econom | renew flourish today ivoirien peopl |
| economi | optim reinvigor dynam look evid | economi | shrunk near percent made lost |
| polici | percent accid luck due sound | polici | put place past month difficult |
| need | cà ´ te d ivoir | need | fulfil destinythi bring third topic |
| market | te d ivoir fullfledg emerg | market | wish think base concret polici |
| polici | market wish think base concret | polici | laid nation develop plan generous |
| growth | pari decemb goal generat enough | growth | doubl nation incom realiti seek |
| countri | path calabash tree word know | countri | better anybodi els futur creat |
| countri | advic base extens experi member | countri | past year offer advic spirit |
| growth | humil friendship imf certain believ | growth | rise soon rise fast might |
| growth | investmentfirst invest first build block | growth | prosper fit capit invest upgrad |
| also | heavili nation develop plan invest | also | mean invest peopl peopl hold |
| growth | te d ivoir futur sustain | growth | come product product come machin |
| need | cà ´ te d ivoir | need | better educ improv skill focus |
| growth | second area inclus principl straightforward | growth | prosper must lift everyon togeth |
| market | ivoir want becom vibrant emerg | market | need solid middl class consum |
| need | want becom vibrant emerg market | need | solid middl class consum class |
| also | solid middl class consum class | also | evid less inequ associ sustain |
| growth | less inequ associ sustain spell | growth | inclus fair decenc also good |
| also | spell growth inclus fair decenc | also | good econom countri like cà |
| econom | inclus fair decenc also good | econom | countri like cà ´ te |
| countri | fair decenc also good econom | countri | like cà ´ te d |
| also | invest peopl job talk alreadi | also | encompass robust social spend especi |
| econom | kind subsidi bad budget bad | econom | effici bad equiti inclus bad |
| also | equiti inclus bad environ inclus | also | aid make sure everybodi get |
| growth | small mediums enterpris crucial futur | growth | prosper regard cà ´ te |
| need | long way toward get credit | need | governancelet turn govern third area |
| growth | without foundat strive strong inclus | growth | like plan build hous bed |
| countri | d ivoir rank th african | countri | mo ibrahim govern index tell |
| econom | state core compet includ promot | econom | stabil guarante minim social servic |
| economi | peac social justic key area | economi | state must step back privat |
| need | build appear stone stone word | need | step back turbul moment reflect |
| countri | toward africa destini st centuri | countri | alreadi seen rise fall first |
| countri | stand along way may beauti | countri | blossom may harvest prove bounti |
| polici | remark focus role fiscal | polici | play current junctur let start |
| global | imf first time histori call | global | fiscal expans across countri could |
| countri | call global fiscal expans across | countri | could afford never happen monetari |
| polici | could afford never happen monetari | polici | seen tool respond deceler econom |
| econom | polici seen tool respond deceler | econom | activ fiscal polici chang view |
| polici | respond deceler econom activ fiscal | polici | chang view role fiscal polici |
| polici | polici chang view role fiscal | polici | reflect three consider call fiscal |
| financ | expans spite fact state public | financ | particular good histor standard public |
| economi | public debt gdp ratio advanc | economi | sinc alreadi peak except world |
| economi | sinc two thing happen world | economi | start recov although slowli second |
| countri | aris sharp fiscal weaken materi | countri | experienc fulli fledg fiscal crise |
| countri | fledg fiscal crise face develop | countri | initi phase fiscal adjust develop |
| also | possibl gradual justifi two reason | also | argu gradual fiscal adjust accompani |
| growth | fiscal tighten would tend hamper | growth | would bad fiscal account cours |
| also | fiscal account cours much possibl | also | import introduc structur reform boost |
| polici | medium term summari view fiscal | polici | current circumst proceed fiscal adjust |
| growth | equal import particular look implic | growth | seri fiscal tighten fiscal tighten |
| growth | impact high public debt potenti | growth | think negat impact trivial base |
| need | base avail econometr evid research | need | fifth move polit econom perspect |
| econom | research need fifth move polit | econom | perspect gradual fiscal adjust possibl |
| economi | pension health care spend advanc | economi | next two decad averag increas |
| countri | gdp health care larg cross | countri | differ reflect addit demograph estim |
| countri | problem fiscal outlook good news | countri | succeed contain health care cost |
| also | great confid malawi futur would | also | like recogn minist financ ken |
| financ | would also like recogn minist | financ | ken lipenga central bank governor |
| econom | bank governor charl chuka wise | econom | leadership cours let thank malawi |
| countri | talk morn malawi futur malawi | countri | great potenti next year celebr |
| countri | much period malawi live potenti | countri | went decad dictatorship lost opportun |
| countri | legaci malawi one world poorest | countri | half popul live less day |
| need | new era collect effort govern | need | partnership partnership peopl malawi partnership |
| global | let talk three thing morn | global | region context malawi find believ |
| econom | malawi find believ malawi cusp | econom | rebirth imf effect partner malawi |
| global | effect partner malawi along journey | global | region econom context let begin |
| econom | malawi along journey global region | econom | context let begin global econom |
| global | region econom context let begin | global | econom develop expect global recoveri |
| econom | econom context let begin global | econom | develop expect global recoveri continu |
| global | begin global econom develop expect | global | recoveri continu next year remain |
| growth | weak subject great uncertainti sign | growth | may stabil global activ seem |
| global | uncertainti sign growth may stabil | global | activ seem stuck low gear |
| growth | news bit better region expect | growth | around  ¼ percent subsaharan |
| countri | subsaharan africa come year lowincom | countri | hous twothird africa peopl grow |
| global | even strong around percent long | global | turmoil persist peopl contin remain |
| global | aid imf research show sustain | global | slowdown percentag point gdp would |
| growth | percentag point gdp would reduc | growth | subsaharan africa  ¼ percentag |
| also | unit state china let us | also | forget threat food price food |
| global | price food scarciti far rise | global | food price pressur concentr crop |
| growth | emerg asia record world strongest | growth | rate case african lion even |
| countri | held well resili homegrown african | countri | abl take advantag strong foundat |
| countri | debt relief includ imf twothird | countri | region abl pursu expansionari polici |
| polici | countri region abl pursu expansionari | polici | crisi let deficit expand instead |
| countri | instead slam hard brake twothird | countri | abl increas real spend health |
| also | vulner peopl strength resili africa | also | come reorient trade invest toward |
| also | wider world open intraregion trade | also | doubl sinc look ahead believ |
| need | cours seiz possibl tomorrow africa | need | take initi today see four |
| growth | greater competit manufactur servic inclus | growth | job creation make sure especi |
| need | access financi servic credit channel | need | confid futur want countri benefit |
| countri | channel need confid futur want | countri | benefit includ malawi train bound |
| econom | station malawi reserv seat malawian | econom | rebirththi bring second area econom |
| econom | econom rebirththi bring second area | econom | rebirth malawi rebirth root recent |
| global | vulner forc natur vulner vagari | global | commod market vulner peopl slip |
| market | natur vulner vagari global commod | market | vulner peopl slip back forth |
| growth | suffer chronic shortag foreign exchang | growth | narrowlybas inclus reduc poverti especi |
| economi | rural area peopl live short | economi | work peopl took offic last |
| econom | april presid banda inherit serious | econom | crisi crisi driven malawi perenni |
| econom | pay bill form backdrop malawi | econom | rebirth let talk rebirth mean |
| econom | mean along three core dimens | econom | stabil econom growth human develop |
| econom | three core dimens econom stabil | econom | growth human develop restor econom |
| growth | core dimens econom stabil econom | growth | human develop restor econom stabilitylet |
| econom | econom growth human develop restor | econom | stabilitylet begin econom stabil foundat |
| econom | develop restor econom stabilitylet begin | econom | stabil foundat upon everyth els |
| also | overvalu eas strain foreign exchang | also | increas petroleum price cut subsidi |
| econom | subsidi help environ follow reform | econom | wheel start spin progress threaten |
| growth | lower plant period overvalu halv | growth | estim percent expect strong rebound |
| polici | ½ percent year assum strong | polici | commit normal weather condit latest |
| econom | condit latest crisi goe beyond | econom | human crisi today almost million |
| also | program provid inkind food assist | also | import scale public work social |
| econom | capac must done seal gain | econom | stabil low level reserv key |
| polici | rate reduc inflat tight monetari | polici | fiscal restraint viabl altern rejuven |
| econom | fiscal restraint viabl altern rejuven | econom | growthlet talk rejuven econom growth |
| econom | rejuven econom growthlet talk rejuven | econom | growth second dimens econom rebirth |
| growth | econom growthlet talk rejuven econom | growth | second dimens econom rebirth realiti |
| econom | rejuven econom growth second dimens | econom | rebirth realiti econom stabil realli |
| econom | second dimens econom rebirth realiti | econom | stabil realli mean end stronger |
| growth | stabil realli mean end stronger | growth | job creation lift prospect malawian |
| econom | rice farmer karonga believ govern | econom | recoveri plan lay foundat higher |
| growth | lay foundat higher better qualiti | growth | believ key unlock malawi potenti |
| countri | make competit help diversif allow | countri | reli less agricultur gain foothold |
| econom | right malawi rank poor world | econom | forum global competit index th |
| global | rank poor world econom forum | global | competit index th countri also |
| countri | forum global competit index th | countri | also mean boost invest upgrad |
| also | global competit index th countri | also | mean boost invest upgrad poor |
| also | qualiti infrastructur especi electr transport | also | believ growth becom inclus mean |
| growth | especi electr transport also believ | growth | becom inclus mean develop protect |
| growth | must alway go togeth stabil | growth | inde look upon growth mere |
| growth | stabil growth inde look upon | growth | mere mean higher end creat |
| growth | banda understand well consid put | growth | mere gdp growth growth wealth |
| growth | consid put growth mere gdp | growth | growth wealth prosper opportun happi |
| growth | put growth mere gdp growth | growth | wealth prosper opportun happi polit |
| econom | wealth prosper opportun happi polit | econom | freedom growth also grow number |
| growth | opportun happi polit econom freedom | growth | also grow number children school |
| also | happi polit econom freedom growth | also | grow number children school young |
| growth | children school young peopl job | growth | increas number mother give safe |
| growth | number famili plenti food word | growth | ultim human be condit peopl |
| global | malaria ensur environment sustain strengthen | global | partnership develop area target achiev |
| polici | ground end day acid test | polici | actual help peopl hold govern |
| need | still long hard road ahead | need | walk road alon experi teach |
| countri | cannot carri roof start insid | countri | govern need form strong bond |
| need | roof start insid countri govern | need | form strong bond social partner |
| also | organ word peopl like malawi | also | need intern partnership includ imf |
| need | word peopl like malawi also | need | intern partnership includ imf rememb |
| econom | includ imf rememb imf like | econom | club member countri help time |
| countri | imf like econom club member | countri | help time need know health |
| need | club member countri help time | need | know health one affect health |
| countri | health imf stand proxi member | countri | stand intern communiti stand help |
| countri | stand intern communiti stand help | countri | first polici advic job imf |
| polici | communiti stand help countri first | polici | advic job imf provid honest |
| econom | way help lend goal cushion | econom | social cost crise give countri |
| countri | econom social cost crise give | countri | time get back feet also |
| also | countri time get back feet | also | catalyz financi support provid seal |
| countri | financi support provid seal approv | countri | reform program believ imf special |
| countri | believ imf special respons lowincom | countri | member frontier success one big |
| growth | last year put poverti reduct | growth | trust sustain foot done member |
| need | enough concession lend meet member | need | year come even keep charg |
| countri | recent intern studi found lowincom | countri | fundsupport program score better growth |
| growth | countri fundsupport program score better | growth | poverti reduct peer spend health |
| also | reduct peer spend health educ | also | rise faster countri imfsupport program |
| countri | health educ also rise faster | countri | imfsupport program develop countri whole |
| countri | faster countri imfsupport program develop | countri | whole health spend percentag point |
| countri | five year third way help | countri | capac build technic assist train |
| countri | build technic assist train help | countri | build institut bottom without solid |
| economi | without solid foundat tri improv | economi | like swim rapid advanc tide |
| countri | reform program continu support malawi | countri | transit stronger less volatil diversifi |
| economi | transit stronger less volatil diversifi | economi | threeyear extend credit facil agre |
| growth | juli seek restor stabil boost | growth | scale social protect respond quick |
| econom | program believ support alreadi yield | econom | dividend also unlock donor support |
| also | support alreadi yield econom dividend | also | unlock donor support increas social |
| also | increas social protect develop expenditur | also | commit help malawi build capac |
| polici | public financi manag framework monetari | polici | financi sector supervis macroeconom statist |
| countri | reform program program belong know | countri | better without countri ownership polici |
| countri | belong know countri better without | countri | ownership polici program littl chanc |
| polici | countri better without countri ownership | polici | program littl chanc success job |
| econom | fiscal union think quit relev | econom | factor shape design european fiscal |
| global | larg one monitor forum feder | global | network feder establish canada studi |
| also | fiscal union long run dimens | also | focus present proceed one terminolog |
| also | data refer subnat govern entiti | also | report let start first dimens |
| polici | first dimens role central fiscal | polici | consequ role size feder budget |
| financ | role size feder budget public | financ | long discuss benefit decentr spend |
| polici | taxpay allow closer tailor fiscal | polici | local prefer howev spite potenti |
| growth | stabil social protect crucial factor | growth | central govern th centuri exampl |
| financ | state practic feder govern alway | financ | tax except sometim earli life |
| need | lead emerg socal vertic imbal | need | transfer center member state extent |
| countri | play relat small role decentr | countri | e g canada unit state |
| polici | union like common defens extern | polici | also econom role name macroeconom |
| also | like common defens extern polici | also | econom role name macroeconom stabil |
| econom | common defens extern polici also | econom | role name macroeconom stabil risk |
| polici | macroeconom purpos focus latter focus | polici | debat euro area let first |
| financ | larg shock nomin fiscal rule | financ | constraint altogeth movement net transfer |
| need | euro area present yet principl | need | risk share higher euro area |
| econom | lower labor mobil lower synchron | econom | cycl cours sever way set |
| polici | state hit shock howev central | polici | would addit advantag longer run |
| also | stronger euro area exist feder | also | reinforc fact constraint set euro |
| polici | euro area member state macrofisc | polici | mani respect quit tight bring |
| polici | third dimens analysi constraint macrofisc | polici | subnat govern macrofisc polici mean |
| polici | macrofisc polici subnat govern macrofisc | polici | mean set budget balanc aggreg |
| polici | essenti follow feder constrain macrofisc | polici | analysi feder reach four conclus |
| economi | arrang rare main found european | economi | exampl austria annual fiscal target |
| financ | cooper feder region level high | financ | council third direct control central |
| also | third direct control central govern | also | rare feder contrari happen unitari |
| countri | eu rule appli general govern | countri | respons distribut target intern among |
| economi | general govern financi report mani | economi | includ advanc economi take long |
| economi | report mani economi includ advanc | economi | take long time consolid govern |
| financ | take long time consolid govern | financ | statist germani exampl take near |
| market | budget prepar level particular emerg | market | south africa brazil india euro |
| polici | dimens studi cover harmon fiscal | polici | central spend side analysi show |
| polici | infrastructur govern effect implement harmon | polici | ensur minimum provis level allow |
| countri | educ provis fund decentr mani | countri | polici partial harmon nation educ |
| polici | provis fund decentr mani countri | polici | partial harmon nation educ standard |
| polici | feder spillov aris decentr tax | polici | decis economi scale inform share |
| economi | aris decentr tax polici decis | economi | scale inform share collabor among |
| polici | feder state littl harmon spend | polici | revenu side degre harmon mandatori |
| financ | debat euro bond bill way | financ | member state let first describ |
| financ | sixth dimens studi look emerg | financ | crisi situat seventh last dimens |
| market | bulk borrow member state feder | market | secur issu loan central govern |
| economi | program develop purpos particular emerg | economi | exampl central govern australia canada |
| financ | gdp cover signific part state | financ | need feder govern held percent |
| need | cover signific part state financ | need | feder govern held percent state |
| also | state debt feder central govern | also | indirect financ subnat govern channel |
| financ | feder central govern also indirect | financ | subnat govern channel loan central |
| economi | own financi entiti particular emerg | economi | feder own develop bank present |
| economi | south africa mexico brazil emerg | economi | central govern also provid guarante |
| also | brazil emerg economi central govern | also | provid guarante subnat govern common |
| economi | subnat govern common feder advanc | economi | although germani feder govern provid |
| financ | member state financi difficulti face | financ | crisi subnat govern rare allow |
| polici | feder perhap except constraint macrofisc | polici | member state even case weaker |
| also | term fiscal union object would | also | help address crisi euro area |
| also | confer provid ms allard note | also | even econometr evid show net |
| market | state may abl access financi | market | sustain rate hit common shock |
| global | great pleasur take part asean | global | dialogu behalf manag director would |
| also | mani opportun possibl world interconnect | also | dark side fact big stori |
| economi | intern financi safeti net protect | economi | contagion achiev stabl global economi |
| global | protect economi contagion achiev stabl | global | economi would like share recent |
| economi | economi contagion achiev stabl global | economi | would like share recent lesson |
| need | crise ideal world would never | need | activ safeti net mere exist |
| global | resili extern shock seen recent | global | financi crisi need better surveil |
| need | seen recent global financi crisi | need | better surveil imf revamp surveil |
| countri | interconnect focus linkag spillov run | countri | step analysi intern spillov strengthen |
| need | safeti netslet turn second point | need | bigger complementari intern safeti net |
| econom | institut domin landscap meanwhil propens | econom | cost system financi crise increas |
| economi | enough net financi inflow emerg | economi | alon expect approach billion daili |
| global | expect approach billion daili turnov | global | fx market surpass trillion despit |
| market | billion daili turnov global fx | market | surpass trillion despit member commit |
| global | financi war chest still dwarf | global | capit flow anoth option self |
| global | bank increas dramat total quarter | global | gdp percent mid reserv hold |
| also | help cushion blow extern shock | also | limit also cost beyond point |
| also | blow extern shock also limit | also | cost beyond point may contribut |
| countri | widen extern imbal creditor debtor | countri | region arrang becom increas import |
| global | arrang becom increas import part | global | financi safeti net decis asean |
| polici | asia efsf europ build ownership | polici | condit cement polici cooper region |
| polici | build ownership polici condit cement | polici | cooper region financi safeti net |
| econom | well insur less effect intraregion | econom | integr strong everybodi rise fall |
| countri | fall togeth becom harder one | countri | come aid neighbor limit matter |
| global | nearunivers membership provid broadest protect | global | financi crisi reveal gap imf |
| need | reveal gap imf lend toolkit | need | fill highlight need quick upfront |
| need | lend toolkit need fill highlight | need | quick upfront liquid support includ |
| global | togeth never must cooper never | global | financi safeti net essenti element |
| need | net essenti element cooper element | need | everybodi come togeth spirit open |
| polici | togeth spirit open solidar adopt | polici | lead us futur prosper |
| econom | thought asia chang role world | econom | integr driver global growth st |
| global | role world econom integr driver | global | growth st centuri specif let |
| growth | world econom integr driver global | growth | st centuri specif let talk |
| global | let start basic observ sand | global | economi shift east asia remain |
| economi | start basic observ sand global | economi | shift east asia remain global |
| global | economi shift east asia remain | global | growth leader reform measur taken |
| growth | shift east asia remain global | growth | leader reform measur taken strengthen |
| polici | leader reform measur taken strengthen | polici | framework econom fundament aftermath asian |
| econom | measur taken strengthen polici framework | econom | fundament aftermath asian financi crisi |
| economi | aftermath asian financi crisi asia | economi | much stabl resili project asia |
| growth | much stabl resili project asia | growth | close percent percentag point global |
| global | growth close percent percentag point | global | averag longterm trend clear less |
| economi | clear less two decad asia | economi | larger unit state european union |
| growth | financi integr strengthen asia make | growth | inclus sustain face demograph chang |
| global | integr asia help world promot | global | growth econom rebalanc let start |
| growth | asia help world promot global | growth | econom rebalanc let start trade |
| econom | help world promot global growth | econom | rebalanc let start trade side |
| growth | rise world lead sourc export | growth | intraregion trade global trade asia |
| global | sourc export growth intraregion trade | global | trade asia trade economi outsid |
| economi | trade global trade asia trade | economi | outsid region doubl sinc intraasian |
| economi | asia increas even faster asian | economi | increas form suppli network china |
| economi | declin word direct export advanc | economi | replac indirect export via china |
| need | declin come much relianc invest | need | shift consumpt still expect china |
| growth | asian trade partner benefit investmentl | growth | china might face advers consequ |
| market | get foothold chines consum good | market | could offer last benefit asian |
| market | mean promot access final good | market | harmon invest regim also import |
| also | good market harmon invest regim | also | import rise wage mainland china |
| economi | shift product asean frontier develop | economi | context format asean econom communiti |
| econom | develop economi context format asean | econom | communiti offer opportun creat larger |
| market | offer opportun creat larger common | market | cannot asia region arrang must |
| also | either exampl plan transpacif partnership | also | strong focus liber trade servic |
| economi | integr lag behind especi asean | economi | typic less integr peer global |
| global | economi typic less integr peer | global | financi hub unit state europ |
| economi | invest flow percent transact advanc | economi | outsid asia asia appear invest |
| countri | signific benefit first would give | countri | wider rang instrument financi asset |
| countri | small servic sector firm asean | countri | improv access financi servic especi |
| also | small mediums enterpris rural household | also | help reduc incom inequ howev |
| global | help reduc incom inequ howev | global | financi crisi taught us greater |
| also | taught us greater financi integr | also | come risk especi true financi |
| growth | clear capit inflow asia help | growth | rebalanc issu make sure go |
| market | partnership infrastructur invest promot financi | market | develop regard integr asean stock |
| market | develop regard integr asean stock | market | would help would larg region |
| market | help would larg region bond | market | envisag asian bond market initi |
| market | bond market envisag asian bond | market | initi last allow conclud say |
| econom | conclud say go forward deeper | econom | cooper integr well manag help |
| growth | help asia strengthen domest engin | growth | also set path asia econom |
| also | asia strengthen domest engin growth | also | set path asia econom leadership |
| econom | growth also set path asia | econom | leadership st centuri sustain growth |
| growth | econom leadership st centuri sustain | growth | across world |
| econom | great pleasur let thank malaysian | econom | associ bank negara malaysia organ |
| also | banker one longest serv let | also | recogn tan sri dato moham |
| econom | dato moham sheriff presid malaysia | econom | associ good back asia last |
| global | increas leadership role asia play | global | economi imf look far region |
| economi | leadership role asia play global | economi | imf look far region come |
| global | percent year recent dark day | global | financi crisi asia kept flame |
| global | kept flame aliv account twothird | global | growth clear momentum dynam futur |
| growth | flame aliv account twothird global | growth | clear momentum dynam futur start |
| countri | start malaysia big part stori | countri | rich ancient histori alway great |
| polici | like talk three thing today | polici | agenda advanc economi implic asia |
| economi | thing today polici agenda advanc | economi | implic asia virtu benefit econom |
| econom | economi implic asia virtu benefit | econom | cooper within asia broader import |
| polici | within asia broader import intern | polici | cooper polici agenda advanc economi |
| polici | broader import intern polici cooper | polici | agenda advanc economi implic asialet |
| economi | polici cooper polici agenda advanc | economi | implic asialet start global economi |
| global | advanc economi implic asialet start | global | economi momentum continu slow expect |
| economi | economi implic asialet start global | economi | momentum continu slow expect global |
| global | economi momentum continu slow expect | global | growth percent percent lower thought |
| growth | momentum continu slow expect global | growth | percent percent lower thought month |
| growth | see malaysia held well far | growth | Â ½ percent riski territori |
| growth | ½ percent riski territori year | growth | emerg asia fell lowest level |
| also | part domest slowdown china india | also | strong gust storm west link |
| market | foreign particip local sovereign debt | market | near doubl past five year |
| growth | shift sentiment go forward believ | growth | pick asia retain posit growth |
| growth | growth pick asia retain posit | growth | leader expand percentag point faster |
| global | none taken grant depend action | global | policymak especi unit state europ |
| polici | resili back sound macroeconom structur | polici | asian draw wrong lesson crisi |
| financ | recent record public privat sector | financ | manag well sinc asian crisi |
| also | financi leverag relianc foreign fund | also | lower ratio shortterm foreign debt |
| econom | vulner fell third short asia | econom | foundat becam safer sounder resili |
| economi | open busi import lesson advanc | economi | current face sever challeng given |
| growth | spend cut inde come play | growth | unit state would fall zero |
| polici | fall zero rest world immun | polici | uncertainti must resolv requir side |
| also | eurozon still face crisi must | also | deliv polici commit nation region |
| polici | face crisi must also deliv | polici | commit nation region level fiscal |
| econom | europ must forg ahead greater | econom | cooper especi deeper fiscal financi |
| also | mean singl supervisori framework ultim | also | need paneuropean deposit guarante scheme |
| need | singl supervisori framework ultim also | need | paneuropean deposit guarante scheme bank |
| also | come closer togeth europ help | also | help entir global economi increas |
| global | europ help also help entir | global | economi increas econom cooper within |
| economi | help also help entir global | economi | increas econom cooper within asiathi |
| econom | help entir global economi increas | econom | cooper within asiathi bring second |
| econom | bring second area even virtu | econom | cooper within asia europ interconnect |
| econom | world rather talk broader promis | econom | cooper two area particular trade |
| financ | cooper two area particular trade | financ | trade integrationin term trade integr |
| economi | great river typic pattern asian | economi | send intermedi good china assembl |
| countri | next big phase believ asean | countri | well place benefit larg entic |
| market | well place benefit larg entic | market | asean countri cours also need |
| countri | benefit larg entic market asean | countri | cours also need support domest |
| also | entic market asean countri cours | also | need support domest consumpt shift |
| need | market asean countri cours also | need | support domest consumpt shift toward |
| econom | gain look ahead format asean | econom | communiti offer vast possibl common |
| market | communiti offer vast possibl common | market | transpacif partnership also deliv great |
| also | possibl common market transpacif partnership | also | deliv great benefit especi emphas |
| market | great benefit especi emphas servic | market | sector protect long question look |
| economi | crossbord portfolio invest flow advanc | economi | outsid asia asia current account |
| countri | part make easier small busi | countri | like malaysia gain access credit |
| economi | malaysia gain access credit make | economi | safer allow insur volatil advers |
| market | open competit integr asean stock | market | would help would larger region |
| market | help would larger region bond | market | envisag asian bond market initi |
| market | bond market envisag asian bond | market | initi econom transform program malaysia |
| econom | envisag asian bond market initi | econom | transform program malaysia help lead |
| growth | take next step boost product | growth | becom vibrant highincom countri aspir |
| countri | product growth becom vibrant highincom | countri | aspir base firm polici intent |
| polici | highincom countri aspir base firm | polici | intent support transit bank negara |
| countri | worldclass financi system worthi highincom | countri | believ done inde malaysia alreadi |
| financ | inde malaysia alreadi histori innov | financ | becom world leader sukuk shari |
| market | ahcompli bond account twothird sukuk | market | malaysia saw open took expect |
| econom | open took expect futur differ | econom | cooper despit differ span countri |
| countri | econom cooper despit differ span | countri | cultur system across asia big |
| economi | integr come without cost financiallyintegr | economi | expos storm particular capit flow |
| also | capit flow bring great benefit | also | overwhelm countri damag cycl crescendo |
| countri | bring great benefit also overwhelm | countri | damag cycl crescendo crash time |
| market | crescendo crash time deeper financi | market | develop allow economi put strong |
| economi | deeper financi market develop allow | economi | put strong root weather storm |
| econom | flow without overwhelm testament superior | econom | manag malaysia well protect econom |
| econom | econom manag malaysia well protect | econom | manag key flow come bank |
| also | curv area make financi integr | also | mean better regul think global |
| global | also mean better regul think | global | rule like basel iii reform |
| also | rule like basel iii reform | also | think local rule like stronger |
| growth | becom even import make sure | growth | benefit everybodi vulner peopl protect |
| growth | inequ seen reduct sinc make | growth | inclus mean move mani front |
| polici | made time push even intern | polici | cooperationso far talk polici action |
| polici | intern polici cooperationso far talk | polici | action need advanc economi implic |
| need | cooperationso far talk polici action | need | advanc economi implic asia talk |
| economi | talk polici action need advanc | economi | implic asia talk increas econom |
| econom | economi implic asia talk increas | econom | integr within asia let turn |
| polici | turn third point import intern | polici | cooper tunku abdul rahman malaysia |
| countri | work togeth asia understand well | countri | cooper collabor region level global |
| global | countri cooper collabor region level | global | level imf start region level |
| countri | initi multiler good exampl asean | countri | commit deeper cooper also great |
| also | asean countri commit deeper cooper | also | great encourag emerg asean macroeconom |
| countri | independ region surveil gentl nudg | countri | act concord global level asia |
| global | gentl nudg countri act concord | global | level asia major highlyrespect voic |
| global | level asia major highlyrespect voic | global | econom govern includ g six |
| econom | asia major highlyrespect voic global | econom | govern includ g six member |
| also | includ g six member asia | also | play increas import role imf |
| countri | reform complet see shift quota | countri | share fund percent sinc dynam |
| market | fund percent sinc dynam emerg | market | develop countri china india japan |
| countri | sinc dynam emerg market develop | countri | china india japan among top |
| also | among top ten sharehold let | also | mention within top manag imf |
| need | complex interconnect world understand imf | need | chang modern certain learn lesson |
| global | exampl tri even effect serv | global | membership cours support global membership |
| global | serv global membership cours support | global | membership proper must also necessari |
| also | support global membership proper must | also | necessari resourc year membership came |
| also | total lend power trillion membership | also | came togeth ensur enough concession |
| countri | concession lend imf poorer member | countri | year come import first vote |
| also | partnership solidar idea help other | also | help appreci asia includ malaysia |
| countri | financi firewal end day member | countri | imf premier forum econom cooper |
| econom | member countri imf premier forum | econom | cooper world today lead way |
| countri | cooper world today lead way | countri | stand togeth normal time help |
| global | asian destini provid strength leadership | global | economi st centuri cooper partnership |
| economi | destini provid strength leadership global | economi | st centuri cooper partnership anoth |
| econom | prepar deliveryintroductioni delight london school | econom | vibrant tradit marri studi econom |
| econom | econom vibrant tradit marri studi | econom | social scienc includ polit law |
| countri | strive everi day work member | countri | today would like talk topic |
| global | imf subject amidst attent paid | global | financi crisi risk econom recoveri |
| econom | paid global financi crisi risk | econom | recoveri true imf world bank |
| global | fund offer somewhat gloomi pictur | global | economi project modest percent year |
| economi | offer somewhat gloomi pictur global | economi | project modest percent year still |
| economi | wake hour work problem advanc | economi | assur also keen focus histor |
| also | work problem advanc economi assur | also | keen focus histor opportun offer |
| also | much tri help speak imf | also | argu intern communiti whole must |
| need | understand preoccup difficulti import moment | need | provid concret support aspir peopl |
| econom | mandat chang polit extend deep | econom | sphere peopl call say countri |
| countri | econom sphere peopl call say | countri | would govern greater opportun prosper |
| econom | lack clear direct term polit | econom | reform religi faction reinforc inact |
| econom | polit power block progress polit | econom | reform one could add doubt |
| countri | add doubt pace direct reform | countri | leadership chang use way think |
| econom | one three altern path far | econom | consequ concern path one could |
| econom | deterior restor transform could see | econom | deterior squabbl polit power prevent |
| econom | busi interest offer respit erod | econom | condit condemn region return econom |
| econom | econom condit condemn region return | econom | stagnat best tepid growth could |
| growth | return econom stagnat best tepid | growth | could see new economi emerg |
| economi | tepid growth could see new | economi | emerg newli elect inexperienc govern |
| econom | gradual find way end linger | econom | disrupt begin reform open way |
| econom | begin reform open way greater | econom | opportun peopl first two path |
| need | address key question region transitionw | need | recogn upfront mena huge econom |
| econom | need recogn upfront mena huge | econom | vari region talk countri popul |
| countri | huge econom vari region talk | countri | popul million peopl trillion gdp |
| global | peopl trillion gdp account percent | global | popul percent global gdp cours |
| global | account percent global popul percent | global | gdp cours countri circumst vari |
| countri | popul percent global gdp cours | countri | circumst vari wide well know |
| countri | circumst vari wide well know | countri | region possess vast oil gas |
| countri | whole region billion export belgium | countri | eleven million peopl tell answer |
| countri | tell answer let focus arab | countri | transit mind egypt jordan libya |
| countri | jordan libya morocco tunisia yemen | countri | embark substant polit chang either |
| countri | long peopl took street arab | countri | transit face challeng employ rapid |
| economi | popul despit sever round reform | economi | unabl generat enough job three |
| market | might generat job produc home | market | second govern unabl creat infrastructur |
| need | second govern unabl creat infrastructur | need | support dynam economi countri energi |
| economi | creat infrastructur need support dynam | economi | countri energi subsidi repeat increas |
| countri | infrastructur need support dynam economi | countri | energi subsidi repeat increas placat |
| countri | inclus fact research shown number | countri | stock price compani connect polit |
| market | compani abl get credit gain | market | share big job creator evid |
| econom | result three factor describ lack | econom | vital high rise unemploy includ |
| also | size structur adjust problem iron | also | illumin way forward achiev broadbas |
| growth | way forward achiev broadbas sustain | growth | countri middl east need move |
| countri | forward achiev broadbas sustain growth | countri | middl east need move away |
| need | sustain growth countri middl east | need | move away statedomin privat invest |
| growth | invest protect industri rentseek exportl | growth | valu creation job unlock region |
| growth | creation job unlock region formid | growth | potenti privat sector must becom |
| growth | sector must becom main sourc | growth | happen access global market home |
| global | main sourc growth happen access | global | market home market key area |
| market | sourc growth happen access global | market | home market key area reformto |
| market | happen access global market home | market | key area reformto achiev goal |
| need | goal see six area reform | need | list start depend upon first |
| countri | integr shortterm challengesunfortun mena region | countri | embark difficult reform aim boost |
| growth | embark difficult reform aim boost | growth | medium term also stabil economi |
| also | aim boost growth medium term | also | stabil economi shortterm process chang |
| economi | growth medium term also stabil | economi | shortterm process chang underway disrupt |
| econom | chang underway disrupt new polit | econom | direct creat uncertainti busi investor |
| financ | carri tough decis bring public | financ | control secur strength weaken financi |
| economi | stabil even difficult slow world | economi | ongo uncertainti europ higher food |
| economi | fragil gain made term stabil | economi | region past year half newli |
| countri | current expect moder recoveri arb | countri | transit growth suffici begin make |
| growth | moder recoveri arb countri transit | growth | suffici begin make sizeabl inroad |
| countri | unemploy fiscal extern buffer erod | countri | face project extern financ need |
| financ | erod countri face project extern | financ | need billion next year need |
| need | countri face project extern financ | need | billion next year need larg |
| need | financ need billion next year | need | larg fulli met privat sourc |
| also | intern financi institut includ imf | also | mean difficult polici choic made |
| polici | includ imf also mean difficult | polici | choic made budget fiscal deficit |
| countri | arab awaken averag percent gdp | countri | transit exclud libya consolid cannot |
| countri | imf suggest situat similar mani | countri | social safeti net includ cash |
| econom | underway mena take place advers | econom | circumst endpoint uncertain countri understand |
| countri | advers econom circumst endpoint uncertain | countri | understand focus polit reform secur |
| econom | yet comprehens effort specifi new | econom | destin lay transform need get |
| need | new econom destin lay transform | need | get one consid potenti cost |
| global | path describ earlier benefit region | global | economi secur third path clear |
| economi | describ earlier benefit region global | economi | secur third path clear intern |
| financ | make concert effort provid adequ | financ | trade access polici advic imf |
| polici | provid adequ financ trade access | polici | advic imf part tri step |
| countri | throughout difficult period deepli engag | countri | region advis countri manag shock |
| countri | deepli engag countri region advis | countri | manag shock experienc maintain econom |
| econom | countri manag shock experienc maintain | econom | stabil ensur vulner household protect |
| growth | protect transit lay basi jobcreat | growth | natur involv shift main provid |
| financ | shift main provid advic help | financ | past year alon provid total |
| also | billion loan jordan morocco yemen | also | activ talk support packag govern |
| financ | assist provid last year tunisia | financ | need met countri provid polici |
| need | provid last year tunisia financ | need | met countri provid polici advic |
| countri | year tunisia financ need met | countri | provid polici advic technic assist |
| polici | financ need met countri provid | polici | advic technic assist libya need |
| need | polici advic technic assist libya | need | capac build financ step support |
| financ | assist libya need capac build | financ | step support help countri rebuild |
| countri | build financ step support help | countri | rebuild institut economi end conflict |
| economi | support help countri rebuild institut | economi | end conflict last year engag |
| countri | author enjoy broad support within | countri | also focus much explicit polici |
| also | enjoy broad support within countri | also | focus much explicit polici ensur |
| polici | countri also focus much explicit | polici | ensur benefit econom growth share |
| econom | much explicit polici ensur benefit | econom | growth share broad consult wide |
| growth | explicit polici ensur benefit econom | growth | share broad consult wide civil |
| countri | polit spectrum let candid help | countri | stabil help creat climat conduc |
| countri | conduc reform cannot shepherd mena | countri | transform lie ahead let end |
| countri | european union gulf cooper council | countri | alreadi done great deal support |
| countri | done great deal support transit | countri | region task great must import |
| countri | import intern communiti includ g | countri | region partner gulf cooper council |
| countri | region partner gulf cooper council | countri | intern region develop bank provid |
| financ | develop bank provid adequ support | financ | stabil capac build european union |
| need | build european union unit state | need | hold prospect deep market access |
| market | state need hold prospect deep | market | access trade product servic countri |
| countri | market access trade product servic | countri | will undertak fundament transform invest |
| growth | bilater region partner help jumpstart | growth | invalu expertis coupl invest privat |
| market | trailblaz lead investor new sector | market | happen eastern central europ invest |
| econom | eastern central europ invest catalyz | econom | transform also serv econom secur |
| also | europ invest catalyz econom transform | also | serv econom secur interest intern |
| econom | catalyz econom transform also serv | econom | secur interest intern communiti deauvill |
| need | use coordin framework cannot deliv | need | look forward work u k |
| economi | presid help deliv theme open | economi | inclus growth make deauvill process |
| growth | deliv theme open economi inclus | growth | make deauvill process meaning contribut |
| countri | middl east north africa uniqu | countri | need chart path insight glean |
| need | east north africa uniqu countri | need | chart path insight glean transform |
| econom | held power promis serv polit | econom | anchor help orient transform marketbas |
| economi | anchor help orient transform marketbas | economi | turkey also provid inspir exampl |
| also | orient transform marketbas economi turkey | also | provid inspir exampl muslim countri |
| countri | also provid inspir exampl muslim | countri | chosen fundament econom reform becom |
| econom | exampl muslim countri chosen fundament | econom | reform becom vibrant emerg market |
| market | econom reform becom vibrant emerg | market | economi strong grow middl class |
| economi | reform becom vibrant emerg market | economi | strong grow middl class prospect |
| econom | east north africa strong extern | econom | anchor current miss time dynam |
| countri | dialogu polit thought leader mena | countri | econom futur dialogu might lead |
| econom | polit thought leader mena countri | econom | futur dialogu might lead roadmap |
| countri | goal process defin reform agenda | countri | must truli participatori draw perspect |
| econom | year middl east possess enorm | econom | power commerc communic transport reach |
| need | head land east today west | need | reach east east need reach |
| need | west need reach east east | need | reach west travel togeth see |
| growth | requir strong enough demand restor | growth | job time second object ensur |
| global | ensur sustain lay foundat stronger | global | economi requir deleverag mani advanc |
| economi | sustain lay foundat stronger global | economi | requir deleverag mani advanc economi |
| economi | economi requir deleverag mani advanc | economi | dampen demand particular happen simultan |
| countri | happen simultan mani sector mani | countri | particular resolv conundrum policymak need |
| need | countri particular resolv conundrum policymak | need | right pace consolid short term |
| need | term time frame willing adjust | need | along way deleverag necessari implement |
| growth | implement speed way minim impact | growth | let say word see fiscal |
| polici | say word see fiscal financi | polici | issu fiscal polici turn financi |
| polici | fiscal financi polici issu fiscal | polici | turn financi polici crucial strike |
| polici | issu fiscal polici turn financi | polici | crucial strike proper balanc necessari |
| need | necessari strengthen resili financi system | need | cushion impact adjust econom activ |
| econom | system need cushion impact adjust | econom | activ fortun part polici agenda |
| polici | adjust econom activ fortun part | polici | agenda mutual reinforc go forward |
| economi | consolid alreadi occur mani advanc | economi | still long way go bank |
| need | unhealthi buildup leverag mispric shortcom | need | address euro area architecturewhat implic |
| polici | address euro area architecturewhat implic | polici | growth last summer global economi |
| growth | euro area architecturewhat implic polici | growth | last summer global economi like |
| global | implic polici growth last summer | global | economi like bicycl slow begin |
| economi | polici growth last summer global | economi | like bicycl slow begin wobbl |
| global | stabil one hand data show | global | econom recoveri remain weak main |
| econom | one hand data show global | econom | recoveri remain weak main ongo |
| countri | deleverag across sector mani advanc | countri | hand decis step alreadi taken |
| market | creat posit momentum sure boost | market | expect polici support growth consolid |
| polici | momentum sure boost market expect | polici | support growth consolid forc support |
| growth | boost market expect polici support | growth | consolid forc support recoveri predomin |
| global | take action remov remain uncertainti | global | output project expand modest percent |
| polici | predic two critic assumpt first | polici | implement decis euro area gradual |
| polici | financi condit second assumpt u | polici | maker effect avoid fiscal cliff |
| economi | peripheri contract stagnat core advanc | economi | requir care polici steer conclud |
| polici | core advanc economi requir care | polici | steer conclud word mean rest |
| global | rest world role fund import | global | collabor outset mention countri could |
| countri | import global collabor outset mention | countri | could count global growth reliev |
| global | outset mention countri could count | global | growth reliev deleverag dilemma mean |
| growth | mention countri could count global | growth | reliev deleverag dilemma mean global |
| global | growth reliev deleverag dilemma mean | global | cooper play role intern communiti |
| global | ignor margin could help boost | global | growth reduc risk prolong crisi |
| growth | margin could help boost global | growth | reduc risk prolong crisi fact |
| need | fact collect action help sore | need | support global demand ensur healthier |
| global | action help sore need support | global | demand ensur healthier global alloc |
| global | support global demand ensur healthier | global | alloc demand avoid reemerg vulner |
| need | avoid reemerg vulner futur everyon | need | part imf also contribut process |
| also | futur everyon need part imf | also | contribut process strengthen surveil launch |
| economi | launch spillov report five system | economi | china euro area japan unit |
| polici | unit state assess impact countryregion | polici | rest world addit imf board |
| also | bilater multilater surveil collect action | also | need make global financi system |
| need | multilater surveil collect action also | need | make global financi system safer |
| global | collect action also need make | global | financi system safer risk relat |
| economi | relat delay inconsist implement across | economi | could creat opportun regulatori arbitrag |
| need | structur bank collect harmon action | need | avoid undermin financi stabil ultim |
| growth | financi stabil ultim harm member | growth | object spirit collect action less |
| countri | london april inde commit twenti | countri | made cooper achiev strong sustain |
| growth | cooper achiev strong sustain balanc | growth | remain key put end crisi |
| global | end crisi lay foundat robust | global | economi financi system futur |
| economi | crisi lay foundat robust global | economi | financi system futur |
| econom | structur govern revenu manner conduc | econom | growth short intervent touch global |
| growth | govern revenu manner conduc econom | growth | short intervent touch global context |
| global | econom growth short intervent touch | global | context make issu particular relev |
| polici | well success larg result determin | polici | maker strengthen polici framework past |
| polici | result determin polici maker strengthen | polici | framework past decad region resili |
| global | give rise complac particular given | global | environ remain complic risk uncertainti |
| global | bound persist time know well | global | recoveri slow uneven advanc economi |
| economi | global recoveri slow uneven advanc | economi | face tremend difficulti repair balanc |
| polici | repair balanc sheet lack decis | polici | action weigh global confid activ |
| global | lack decis polici action weigh | global | confid activ trade global activ |
| global | weigh global confid activ trade | global | activ project slow  ¾ |
| growth | Â ¼ percent year meanwhil | growth | emerg economi remain healthi although |
| economi | percent year meanwhil growth emerg | economi | remain healthi although moder well |
| global | moder well project gradual pick | global | activ come year although hing |
| polici | year although hing decis time | polici | action particular advanc world recent |
| market | announc european leader help calm | market | must follow concret implement step |
| economi | financi condit vulner euro area | economi | policymak also need present credibl |
| also | vulner euro area economi policymak | also | need present credibl path stronger |
| need | euro area economi policymak also | need | present credibl path stronger bank |
| need | behind us polit agreement urgent | need | prevent unduli larg fiscal contract |
| global | larg fiscal contract negat implic | global | growth emerg asia weather storm |
| growth | fiscal contract negat implic global | growth | emerg asia weather storm relat |
| growth | weather storm relat well sustain | growth | medium term condit gradual shift |
| countri | toward consumpt latin america mani | countri | continu benefit doubl tailwind easi |
| financ | continu benefit doubl tailwind easi | financ | condit high commod price recent |
| economi | recent decis central bank advanc | economi | indic world interest rate would |
| growth | period time meanwhil still healthi | growth | emerg asia suggest commod price |
| need | quick downsid risk materi region | need | take advantag still relat favor |
| countri | case dark cloud set mani | countri | public debt level fiscal balanc |
| countri | level fiscal balanc still weaker | countri | particular vulner sharp revers commod |
| countri | reliabl revenu base necessari help | countri | weather global shock limit incom |
| global | base necessari help countri weather | global | shock limit incom volatil come |
| also | volatil come increas commod depend | also | sustain growth medium term stronger |
| growth | increas commod depend also sustain | growth | medium term stronger revenu base |
| financ | would provid stabl sourc incom | financ | much need public invest region |
| need | stabl sourc incom financ much | need | public invest region better design |
| growth | design tax structur could encourag | growth | promot equiti confer provid comprehens |
| polici | overview insight trend challeng tax | polici | tax administr region question confer |
| growth | system tax administr way conduc | growth | equit distribut across societi go |
| growth | build success ensur stabl sustain | growth | current junctur provid opportun strengthen |
| growth | revenu manner consist stabl strong | growth | medium term |
| financ | first let thank ministri | financ | switzerland invit import confer swiss |
| countri | ten year model fiscal rule | countri | work well design reconcil need |
| need | countri work well design reconcil | need | shortterm flexibl anchor under medium |
| polici | anchor under medium longerterm fiscal | polici | trend present today titl indic |
| econom | topic great import switzerland affect | econom | futur import trade financi partner |
| polici | policiesth crisi shortcom reveal current | polici | coordin framework euro area provid |
| need | union europ mani observ stress | need | better riskshar tool could help |
| countri | riskshar tool could help member | countri | hit idiosyncrat shock overcom temporari |
| polici | cannot address either singl monetari | polici | state fiscal polici given constraint |
| polici | singl monetari polici state fiscal | polici | given constraint impos least principl |
| countri | show grow interconnected among member | countri | spillov countryspecif shock gain potenti |
| market | feedback loop led bad equilibria | market | price default selffulfil way context |
| countri | import recogn problem euroarea member | countri | consequ euro project current face |
| also | consequ euro project current face | also | due shock policyinduc reflect word |
| polici | shock policyinduc reflect word idiosyncrat | polici | expos countri risk market pressur |
| countri | reflect word idiosyncrat polici expos | countri | risk market pressur ad compound |
| market | idiosyncrat polici expos countri risk | market | pressur ad compound exogen idiosyncrat |
| polici | difficult mix relat import idiosyncrat | polici | idiosyncrat shock vari across countri |
| countri | polici idiosyncrat shock vari across | countri | countri ireland spain provid one |
| countri | idiosyncrat shock vari across countri | countri | ireland spain provid one exampl |
| polici | boom may difficult control intern | polici | although polici far perfect least |
| polici | difficult control intern polici although | polici | far perfect least benefit hindsight |
| financ | benefit hindsight increas public spend | financ | revenu turn temporari countri like |
| countri | spend financ revenu turn temporari | countri | like itali portug special lowvalu |
| global | special lowvalu ad good suffer | global | shock one exampl idiosyncrat polici |
| polici | global shock one exampl idiosyncrat | polici | definit one greec affect loss |
| global | relat weak fiscal account outset | global | econom financi crisi general govern |
| econom | weak fiscal account outset global | econom | financi crisi general govern deficit |
| also | imbal came surfac debt ratio | also | larg underestim percent gdp actual |
| polici | ii reduc potenti damag idiosyncrat | polici | caus cours idiosyncrat polici made |
| polici | idiosyncrat polici caus cours idiosyncrat | polici | made possibl inadequaci euro area |
| polici | euro area institut meant achiev | polici | coordin fiscal union inde address |
| polici | coordin fiscal union inde address | polici | coordin failur light recent crisi |
| need | federationscurr area fiscal union meet | need | euro could built three pillar |
| need | three compon howev one caveat | need | strength fiscal integr move pari |
| polici | scope present stronger constraint fiscal | polici | member countriesa common featur fiscal |
| market | union constraint either impos center | market | disciplin play larg role self |
| polici | meant strengthen constraint local fiscal | polici | head right direct fact constraint |
| polici | ant veto right member fiscal | polici | veto power normal exist even |
| also | realiti moreov strengthen european budget | also | discuss would reduc likelihood state |
| polici | union differ magnitud central fiscal | polici | function case set alway provid |
| polici | mechan rather central certain spend | polici | particular sensit cyclic develop unemploy |
| also | fact revenu devot central budget | also | sensit cyclic develop mechan one |
| countri | contribut good time redistribut specif | countri | hit idiosyncrat shock case specif |
| polici | budget reduc risk idiosyncrat fiscal | polici | state level support first pillar |
| polici | allow much better coordin fiscal | polici | respons common shock cours larger |
| polici | level final central spend revenu | polici | would contribut foster econom converg |
| econom | revenu polici would contribut foster | econom | converg across member state fiscal |
| polici | converg across member state fiscal | polici | import affect econom incent behavior |
| econom | state fiscal polici import affect | econom | incent behavior exampl singl unemploy |
| polici | behavior exampl singl unemploy insur | polici | would certain condit make labor |
| market | would certain condit make labor | market | similar across member state synerg |
| polici | harmon central coordin non fiscal | polici | idiosyncrat shock also aris nonfisc |
| also | non fiscal polici idiosyncrat shock | also | aris nonfisc polici think import |
| polici | idiosyncrat shock also aris nonfisc | polici | think import labor market polici |
| market | nonfisc polici think import labor | market | polici maintain competit even point |
| polici | polici think import labor market | polici | maintain competit even point implement |
| polici | deposit insur resolut process harmon | polici | critic work monetari fiscal union |
| market | insur presenc larg diverg labor | market | polici turn latter critic central |
| polici | presenc larg diverg labor market | polici | turn latter critic central polici |
| polici | polici turn latter critic central | polici | obvious exampl exist central level |
| polici | bank union import harmon bank | polici | recogn decis move euro area |
| econom | report eu council presid strengthen | econom | monetari union underscor import harmon |
| polici | union underscor import harmon structur | polici | agreement individu countri eu institut |
| countri | harmon structur polici agreement individu | countri | eu institut reform promot growth |
| growth | countri eu institut reform promot | growth | output employ includ perhap limit |
| financ | state feder debt usual issu | financ | feder deficit apart rare case |
| polici | entiti often accompani loss discretionari | polici | power latter seem therefor unlik |
| financ | therefor unlik central debt issuanc | financ | local deficit need perman featur |
| need | debt issuanc financ local deficit | need | perman featur fiscal union euro |
| econom | redempt pact propos german council | econom | advisor posit consist often observ |
| market | exist debt may use kick | market | feder secur would eventu use |
| financ | feder secur would eventu use | financ | larger central budget token one |
| financ | reason likelihood idiosyncrat shock lead | financ | problem could higher area languag |
| financ | relat lower labor mobil emergencycrisi | financ | center may becom necessari said |
| countri | key principl must preserv member | countri | respons action support member presenc |
| need | good therefor strict condit would | need | implic immedi futurewhat implic discuss |
| economi | reveal monetari union put risk | economi | member countri remain differ adequ |
| countri | union put risk economi member | countri | remain differ adequ process risk |
| econom | adequ process risk share avail | econom | differ exacerb coordin failur result |
| polici | result idiosyncrat fiscal non fiscal | polici | insuffici fiscal disciplin opac fiscal |
| market | account flow stock unreform labor | market | lack product growth competit europ |
| growth | unreform labor market lack product | growth | competit europ less europ need |
| need | growth competit europ less europ | need | reduc idiosyncrasi imbal across countri |
| countri | need reduc idiosyncrasi imbal across | countri | wide rang risk exposur across |
| countri | wide rang risk exposur across | countri | harm monetari union equal import |
| also | union equal import dispar reduc | also | need better share residu risk |
| need | equal import dispar reduc also | need | better share residu risk separ |
| financ | fulli either local fiscal rule | financ | constraint |
| also | career choic person belief let | also | thank governor carney kind word |
| also | fortun leader servic rest world | also | benefit wise counsel financi stabil |
| financ | canada iqaluit februari attend g | financ | minist meet put place safer |
| global | financi system howev yet strengthen | global | financi sector make truli safe |
| global | would like focus three issu | global | outlook financi sector contribut progress |
| countri | agenda fit discuss topic canada | countri | one strongest financi sector world |
| need | push reform today creat system | need | futur quot famous hockey player |
| global | hockey player play puck go | global | econom financi outlookth global recoveri |
| econom | player play puck go global | econom | financi outlookth global recoveri suffer |
| global | go global econom financi outlookth | global | recoveri suffer new setback growth |
| growth | global recoveri suffer new setback | growth | disappoint output contract euro area |
| growth | disappoint output contract euro area | growth | deceler mani countri imf project |
| countri | euro area growth deceler mani | countri | imf project global growth percent |
| global | deceler mani countri imf project | global | growth percent percent advanc economi |
| growth | mani countri imf project global | growth | percent percent advanc economi output |
| economi | global growth percent percent advanc | economi | output project expand percent year |
| growth | expand percent year percent next | growth | support accommod monetari polici held |
| polici | next growth support accommod monetari | polici | held back weak financi system |
| polici | fiscal consolid privat sector deleverag | polici | uncertainti escal euro area crisi |
| polici | cliff key downsid risk sourc | polici | uncertainti backdrop met policymak tokyo |
| also | commit act lift debilit uncertainti | also | commit take stock public perform |
| polici | next spring essenti deliver date | polici | major advanc economi suffici rebuild |
| economi | deliver date polici major advanc | economi | suffici rebuild confid world financi |
| countri | system still function well mani | countri | bank still weak result mani |
| growth | advers feedback loop credit tighten | growth | europ pullback crossbord privat capit |
| growth | fund cost peripheri borrow effect | growth | caus pain across contin reason |
| global | crisi hold recoveri key part | global | economi consid stagger econom human |
| economi | hold recoveri key part global | economi | consid stagger econom human cost |
| econom | part global economi consid stagger | econom | human cost past six year |
| need | reinforc g toronto declar agre | need | safer system structur would transpar |
| also | buffer like propos basl iii | also | associ higher rate growth lower |
| growth | iii also associ higher rate | growth | lower econom volatil also good |
| econom | associ higher rate growth lower | econom | volatil also good progress led |
| also | rate growth lower econom volatil | also | good progress led fsb develop |
| countri | improv supervis biggest institut addit | countri | made commit reduc risk overthecount |
| market | commit reduc risk overthecount deriv | market | consensus also forg regul compens |
| also | risk overthecount deriv market consensus | also | forg regul compens practic better |
| also | discuss design implement impact imf | also | play central role develop new |
| polici | big pictur risk call macroprudenti | polici | systemwid risk relat econom cycl |
| econom | macroprudenti polici systemwid risk relat | econom | cycl market structur individu institut |
| market | systemwid risk relat econom cycl | market | structur individu institut canada leader |
| polici | canada leader area implement macroprudenti | polici | rein buildup household debt lower |
| economi | generous implement timet precis allow | economi | recov second mani vest interest |
| polici | polit cycl pressur delay affect | polici | momentum unfinish reform agenda still |
| countri | third point unfinish reform agenda | countri | commit adopt new regul move |
| polici | new regul move ahead nation | polici | challeng proceed end reform path |
| need | like canada push product conclus | need | global agenda need collect action |
| global | canada push product conclus need | global | agenda need collect action strong |
| need | product conclus need global agenda | need | collect action strong leadersa robust |
| market | recoveri last support resili institut | market | inde let us forget end |
| growth | safe financi system support sustain | growth | moreov simpli altern cost crisi |
| global | cost build stabl system truli | global | challeng one well suit tonight |
| global | one well suit tonight celebr | global | also fit topic discuss canada |
| also | well suit tonight celebr global | also | fit topic discuss canada histori |
| also | credibl base financi sector success | also | regard lead multilateralist abroad canada |
| countri | valu coordin consensus build given | countri | influenc beyond year groundbreak work |
| global | stabl financi system best interest | global | communiti also serv selfinterest nation |
| also | system best interest global communiti | also | serv selfinterest nation count continu |
| countri | pacif island confer march beauti | countri | samoa event host imf govern |
| countri | bank collabor better serv member | countri | region awar past two separ |
| also | event time would benefici member | also | us deepen understand region increas |
| countri | goal focus strengthen macroframework member | countri | ensur macroeconom financi stabil increas |
| growth | knowledg differ sector could support | growth | world bank specialti see imf |
| need | specialti see imf wb role | need | complement much attent current focus |
| economi | attent current focus europ advanc | economi | welcom opportun redirect attent challeng |
| countri | opportun exchang view pacif island | countri | navig current global econom environ |
| global | pacif island countri navig current | global | econom environ region policymak increas |
| econom | island countri navig current global | econom | environ region policymak increas countri |
| countri | econom environ region policymak increas | countri | resili shock promot econom growth |
| econom | increas countri resili shock promot | econom | growth region understand product discuss |
| growth | countri resili shock promot econom | growth | region understand product discuss yesterday |
| financ | small state forum chair samoan | financ | minist cohost world bank imf |
| also | minist cohost world bank imf | also | give promin challeng face small |
| polici | generat analyt note lead formal | polici | paper small state better address |
| countri | listen care challeng face caribbean | countri | share understand island pacif region |
| global | morn discuss two import topic | global | shock nearterm challeng affect pacif |
| growth | discuss session one promot sustain | growth | pacif island discuss second session |
| global | second session let begin word | global | region outlook nearterm challeng look |
| global | topic first session recoveri bumpi | global | econom prospect still uncertain global |
| econom | first session recoveri bumpi global | econom | prospect still uncertain global growth |
| global | global econom prospect still uncertain | global | growth project percent percent somewhat |
| growth | econom prospect still uncertain global | growth | project percent percent somewhat weaker |
| economi | downsid risk increas mani advanc | economi | inject liquid posit impact financi |
| growth | signific fiscal achiev accompani disappoint | growth | support growth rein fiscal deficit |
| growth | achiev accompani disappoint growth support | growth | rein fiscal deficit major nearterm |
| economi | nearterm challeng face mani advanc | economi | cours interconnect world asia also |
| also | economi cours interconnect world asia | also | affect global weaken still expect |
| global | interconnect world asia also affect | global | weaken still expect asian growth |
| growth | global weaken still expect asian | growth | almost percent emerg asian growth |
| growth | growth almost percent emerg asian | growth | almost percent good news pacif |
| global | spillov show integr past asia | global | growth leader anoth nearterm challeng |
| growth | show integr past asia global | growth | leader anoth nearterm challeng cope |
| countri | food price rise affect lowincom | countri | disproportion compound problem relat vulner |
| market | crise rice price risen modest | market | still well suppli current shock |
| also | still well suppli current shock | also | less sever affect key crop |
| market | restrict negat spillov effect energi | market | much limit still rise food |
| countri | price sever negat macroeconom effect | countri | prepar want hear shock affect |
| countri | prepar want hear shock affect | countri | backdrop nearterm outlook pacif island |
| countri | region weather crisi better compar | countri | particular eastern caribbean currenc union |
| polici | new zealand emerg asia help | polici | improv last decad island rais |
| global | island rais resili shock wake | global | crisi prudent polici year preced |
| polici | shock wake global crisi prudent | polici | year preced crisi instrument enabl |
| polici | posit sinc sever island rebuilt | polici | buffer especi foreign reserv kept |
| polici | cycl strong commit reform rebuild | polici | buffer strengthen macro framework quick |
| growth | quick boost busi confid spur | growth | howev global landscap outlook pic |
| global | busi confid spur growth howev | global | landscap outlook pic commod import |
| growth | outlook pic commod import slow | growth | percent prospect pic commod export |
| growth | favor owe strong commod price | growth | countri expect averag percent limit |
| countri | owe strong commod price growth | countri | expect averag percent limit spillov |
| economi | limit spillov commod sector rest | economi | lesson draw previous crise countri |
| countri | economi lesson draw previous crise | countri | first insur shock build polici |
| polici | countri first insur shock build | polici | space buffer implement structur reform |
| polici | import pacif island continu rebuild | polici | buffer enhanc resili shock allow |
| countri | buffer enhanc resili shock allow | countri | expand polici space creat cushion |
| polici | resili shock allow countri expand | polici | space creat cushion bad time |
| countri | debt accumul lesson learn caribbean | countri | experi cours experi european countri |
| countri | countri experi cours experi european | countri | cours econom growth best sourc |
| econom | cours experi european countri cours | econom | growth best sourc resili topic |
| growth | experi european countri cours econom | growth | best sourc resili topic second |
| econom | resili topic second session sustain | econom | growth pacif pacif island countri |
| growth | topic second session sustain econom | growth | pacif pacif island countri grow |
| countri | econom growth pacif pacif island | countri | grow annual rate less percent |
| countri | decad much slowli asian lowincom | countri | percent small state around world |
| growth | around world  ½ percent | growth | perform suggest countri stuck lowgrowth |
| countri | ½ percent growth perform suggest | countri | stuck lowgrowth trap pacif island |
| also | thus face high transport cost | also | great affect natur disast climat |
| econom | affect narrow export base lack | econom | diversif exampl fiscal cost climat |
| countri | chang cannot intern pacif island | countri | despit constraint pacif island face |
| polici | despit constraint pacif island face | polici | matter discuss decis polici measur |
| polici | face polici matter discuss decis | polici | measur pacif island govern go |
| growth | privat invest therebi promot broadbas | growth | connect respect role public privat |
| also | respect role public privat sector | also | discuss session two sound structur |
| polici | discuss session two sound structur | polici | enhanc longterm resili shock boost |
| growth | enhanc longterm resili shock boost | growth | potenti implement growthori structur reform |
| growth | help boost investor confid privatesector | growth | focus qualiti public spend exampl |
| growth | widen scope rapid equit longterm | growth | region solut common problem also |
| also | growth region solut common problem | also | continu pursu case fisherieswhat next |
| polici | agenda prioriti us area analysi | polici | advic focus would first today |
| countri | listen learn better serv member | countri | person commit deeper fruit dialogu |
| countri | imf support pacif island bilater | countri | engag includ technic assist program |
| also | differ modal imf support would | also | like emphas increas synergi intern |
| global | imf mission part world deal | global | spillov sustain econom growth theme |
| econom | world deal global spillov sustain | econom | growth theme underli discuss morn |
| growth | deal global spillov sustain econom | growth | theme underli discuss morn two |
| global | financi stabil risk ii role | global | cooper govern financi stabil risksth |
| global | cooper govern financi stabil risksth | global | economi may fraught uncertainti under |
| economi | govern financi stabil risksth global | economi | may fraught uncertainti under trend |
| global | uncertainti under trend toward financi | global | like continu altern financi deglob |
| financ | facebook connected trade social media | financ | simpli fact modern life good |
| market | good news high interconnect financi | market | potenti alloc capit effici across |
| also | across border bad news know | also | rais latent risk financi instabl |
| market | fragil tangl financi web connect | market | bank sovereign corpor household discuss |
| polici | highlight three first accommod monetari | polici | mani advanc economi like spur |
| economi | accommod monetari polici mani advanc | economi | like spur larg volatil capit |
| economi | larg volatil capit flow emerg | economi | could strain capac economi absorb |
| economi | emerg economi could strain capac | economi | absorb potenti larg flow could |
| countri | liber manag capit flow perspect | countri | receiv generat capit flow inde |
| market | progress regulatori reform aim make | market | institut transpar less complex less |
| need | number larg grow institut effort | need | refin implement reform worri collect |
| market | haven flow certain asset class | market | could sourc system financi risk |
| global | sourc system financi risk ii | global | cooper governanceso foster effect global |
| global | global cooper governanceso foster effect | global | cooper govern address challeng increas |
| global | current framework ensur appropri balanc | global | public good financi stabil legitim |
| countri | right diverg view within across | countri | sever import issu includ manag |
| global | may unavoid must forget stake | global | financi stabil import us stay |
| polici | bank omt bondpurchas program big | polici | action right direct inde central |
| global | must play signific role pull | global | economi current malais cannot alon |
| economi | play signific role pull global | economi | current malais cannot alon fiscal |
| polici | malais cannot alon fiscal structur | polici | must also pull weight remain |
| also | alon fiscal structur polici must | also | pull weight remain unclear whether |
| polici | given crossbord spillov effect monetari | polici | decis central bank may need |
| need | polici decis central bank may | need | step intern dialogu cooper conclusionwhen |
| global | collect resolv face natur disast | global | financi crisi manmad disast whose |
| market | financi institut multilater organ even | market | togeth must repair reboot revamp |
| economi | system sourc stabil fragil serv | economi | support growth job |
| growth | stabil fragil serv economi support | growth | job |
| also | feel deepli privileg presenc would | also | like thank japanes host incred |
| econom | whether domest intern promot stabl | econom | growth reduc dispar rich poor |
| growth | domest intern promot stabl econom | growth | reduc dispar rich poor old |
| countri | amaz effort japanes peopl rebuild | countri | live saw courag confid inspir |
| global | sens futur might look like | global | economi imf us talk three |
| economi | futur might look like global | economi | imf us talk three thing |
| global | three thing pace scale chang | global | economi b navig road ahead |
| economi | thing pace scale chang global | economi | b navig road ahead c |
| econom | world golden era japan midst | econom | rebirth global economi roar ahead |
| global | era japan midst econom rebirth | global | economi roar ahead look far |
| economi | japan midst econom rebirth global | economi | roar ahead look far come |
| econom | vast number young peopl rise | econom | region gray popul advanc major |
| economi | gray popul advanc major emerg | economi | women particip economi africa world |
| economi | major emerg economi women particip | economi | africa world largest labor forc |
| also | forc billion peopl india china | also | billion peopl age world econom |
| econom | also billion peopl age world | econom | power spread west east prosper |
| market | begun move north south emerg | market | develop economi account half world |
| economi | north south emerg market develop | economi | account half world gdp quarter |
| economi | quarter communic technolog innov propel | economi | societi evergreat height infin interconnect |
| global | truli worldwid web short sand | global | economi shift strength dynam asia |
| economi | worldwid web short sand global | economi | shift strength dynam asia obvious |
| also | shift strength dynam asia obvious | also | hold true emerg region brazil |
| growth | rousseff absolut determin pursu inclus | growth | push forward agenda reduc inequ |
| polici | must keep push ahead implement | polici | initi announc also recogn deeper |
| also | ahead implement polici initi announc | also | recogn deeper bank fiscal integr |
| econom | alongsid deepseat structur reform fortifi | econom | foundat lay groundwork stronger resili |
| econom | egypt spoke resolv pursu ambiti | econom | reform underpin strong democrat institut |
| also | democrat institut deliv subsaharan africa | also | break grow strong steadili decad |
| market | fade fast rise fastgrow frontier | market | attract lot outsid interest look |
| countri | lot outsid interest look nigeria | countri | visit earlier year countri mani |
| countri | nigeria countri visit earlier year | countri | mani year squander inherit oil |
| global | get carri away seen forecast | global | recoveri still weak job prospect |
| growth | sector address inequ build inclus | growth | put crisi behind usth first |
| growth | clear get beyond crisi restor | growth | especi end scourg unemploy know |
| polici | end scourg unemploy know packag | polici | get us accommod monetari polici |
| polici | polici get us accommod monetari | polici | right pace fiscal adjust mind |
| growth | pace fiscal adjust mind undercut | growth | solid realist plan bring debt |
| growth | cleanup structur reform boost product | growth | complement rebalanc global demand toward |
| global | boost product growth complement rebalanc | global | demand toward dynam emerg market |
| market | global demand toward dynam emerg | market | let us delud without growth |
| growth | market let us delud without | growth | futur global economi jeopardi perhap |
| global | us delud without growth futur | global | economi jeopardi perhap greatest roadblock |
| economi | delud without growth futur global | economi | jeopardi perhap greatest roadblock huge |
| economi | averag almost percent gdp advanc | economi | highest level sinc world war |
| also | high expos subtl shift confid | also | tie hand especi seek build |
| need | th centuri respect social promis | need | rapid age popul add pressur |
| growth | public debt incred difficult without | growth | high debt turn make harder |
| growth | debt turn make harder get | growth | road ahead us narrow long |
| polici | long key move deliber action | polici | know need move togeth front |
| need | move deliber action polici know | need | move togeth front multipl player |
| global | financi system know crucial modern | global | economi need move beyond system |
| economi | system know crucial modern global | economi | need move beyond system gave |
| need | know crucial modern global economi | need | move beyond system gave us |
| also | bank lend rate relat littl | also | found increas capit buffer appropri |
| growth | capit buffer appropri level help | growth | hurt reform financi sector taxat |
| also | hurt reform financi sector taxat | also | help reduc excess risktak leverag |
| global | system help eas transit balanc | global | growth right emerg asia account |
| growth | help eas transit balanc global | growth | right emerg asia account third |
| market | world save develop local financi | market | redirect save emerg asia backyard |
| need | asia backyard peopl edg prosper | need | inequ inclus growththi bring third |
| growth | bring third mileston inequ qualiti | growth | futur world realli human dimens |
| growth | world realli human dimens policymak | growth | essenti futur global economi must |
| global | dimens policymak growth essenti futur | global | economi must differ kind growth |
| economi | policymak growth essenti futur global | economi | must differ kind growth growth |
| growth | global economi must differ kind | growth | growth simpli fallout unfett global |
| growth | economi must differ kind growth | growth | simpli fallout unfett global growth |
| global | growth growth simpli fallout unfett | global | growth inclus recent imf research |
| growth | growth simpli fallout unfett global | growth | inclus recent imf research tell |
| growth | associ greater macroeconom stabil sustain | growth | profound polici implic mean focus |
| polici | macroeconom stabil sustain growth profound | polici | implic mean focus effici also |
| also | polici implic mean focus effici | also | keep equiti mind set fiscal |
| polici | keep equiti mind set fiscal | polici | mean fair share burden adjust |
| market | financi inclus access credit financi | market | mean better transpar govern door |
| global | one know three point futur | global | economi turn get beyond crisi |
| economi | know three point futur global | economi | turn get beyond crisi improv |
| growth | financi system build new kind | growth | c futur imf serv member |
| need | imf transcend everyth said far | need | greater cooper world bound togeth |
| global | futur imf premier forum kind | global | cooper crisi chang us new |
| econom | job make object independ arbit | econom | issu especi hard time fund |
| global | even shift realiti prioriti modern | global | economi world vast interconnect focus |
| economi | shift realiti prioriti modern global | economi | world vast interconnect focus ever |
| econom | world vast interconnect focus ever | econom | polici spillov happen one countri |
| polici | vast interconnect focus ever econom | polici | spillov happen one countri affect |
| countri | econom polici spillov happen one | countri | affect other new integr surveil |
| global | decis exampl help crossfertil countrylevel | global | surveil shine light crossbord effect |
| polici | extern sector report sharpen assess | polici | multilater perspect includ exchang rate |
| global | strengthen focus sector heart nation | global | stabil concern second imf must |
| countri | program nonconcession concession help kind | countri | kind problem financ help adjust |
| financ | help kind countri kind problem | financ | help adjust transit insur prevent |
| polici | insur prevent contagion certifi good | polici | flexibl sensit social condit exampl |
| countri | call longer period fiscal adjust | countri | decis earlier year boost resourc |
| also | use windfal profit gold sale | also | come lowincom countri ensur enough |
| countri | gold sale also come lowincom | countri | ensur enough resourc poverti reduct |
| growth | ensur enough resourc poverti reduct | growth | trust concession lend year come |
| global | fund futur must truli reflect | global | ownership need imf repres world |
| need | must truli reflect global ownership | need | imf repres world look like |
| countri | quota shift dynam emerg develop | countri | percent total sinc start previous |
| countri | mileston percent consent quota increas | countri | board reform must push ahead |
| global | host japan truli champion multilater | global | cooper friend imf celebr year |
| countri | work day night support member | countri | also wish thank fund execut |
| also | day night support member countri | also | wish thank fund execut director |
| global | japanes student share thought imf | global | economi mani wonder inspir entri |
| economi | student share thought imf global | economi | mani wonder inspir entri finalist |
| need | give salt oppon word generous | need | even differ team messag help |
| countri | day saw travel throughout member | countri | past year see face morn |
| countri | borrow agreement pleas respons membership | countri | larg small ralli call strengthen |
| financ | call strengthen capac meet potenti | financ | need fund member time crisi |
| need | strengthen capac meet potenti financ | need | fund member time crisi time |
| global | import junctur agreement critic strengthen | global | firewal pleas say discuss well |
| growth | us imf goal restor stabil | growth | secur prosper futur world crisi |
| growth | much spirit debat auster hurt | growth | much structur reform effect demand |
| growth | financi system safer price damag | growth | much debat regrett fals dichotomi |
| economi | regrett fals dichotomi realiti european | economi | struggl get two interlock vicious |
| econom | get two interlock vicious cycl | econom | one polit one vicious econom |
| econom | econom one polit one vicious | econom | cycl driven three mutual depend |
| econom | weak sovereign weak bank poor | econom | growth bank ran troubl growth |
| growth | sovereign weak bank poor econom | growth | bank ran troubl growth weaken |
| growth | econom growth bank ran troubl | growth | weaken sovereign step convers sovereign |
| growth | troubl bank suffer advers consequ | growth | weak growth turn reduc strength |
| growth | suffer advers consequ growth weak | growth | turn reduc strength sovereign bank |
| market | percent along way ireland lost | market | access fiscal adjust need correct |
| need | lost market access fiscal adjust | need | correct sovereign balanc sheet sever |
| countri | balanc sheet sever euro area | countri | therefor auster versus growth restor |
| growth | area countri therefor auster versus | growth | restor safeti sovereign turn strengthen |
| growth | strengthen bank system allow support | growth | euro area overarch polit cycl |
| econom | polit cycl caus difficulti manag | econom | crisi currenc union obvious addit |
| market | cycl play number time escal | market | tension follow euroarea level polici |
| polici | market tension follow euroarea level | polici | reaction market relief turn follow |
| market | follow euroarea level polici reaction | market | relief turn follow either complac |
| market | along nation line even larger | market | tension reappear result vicious polit |
| econom | tension reappear result vicious polit | econom | cycl need broken cooper need |
| need | result vicious polit econom cycl | need | broken cooper need strengthen roman |
| need | econom cycl need broken cooper | need | strengthen roman politician cicero said |
| need | differ ship boat boat built | need | readi set sail soon confid |
| polici | recent improv announc new ecb | polici | prospect bank union encourag fragil |
| need | crisi rather space provid ecb | need | fulli use polit leader effect |
| need | bright futur euro area europ | need | stabil integr growth stabil return |
| growth | area europ need stabil integr | growth | stabil return sovereign bank safeti |
| growth | currenc union anchor crisi manag | growth | put peopl back job push |
| growth | consensusto make progress toward sustain | growth | amidst constraint need smart need |
| need | toward sustain growth amidst constraint | need | smart need work sever front |
| need | growth amidst constraint need smart | need | work sever front smart togeth |
| financ | work sever front smart togeth | financ | growthlet turn toward global financi |
| global | togeth financ growthlet turn toward | global | financi system help growth financi |
| growth | toward global financi system help | growth | financi sector eye storm often |
| also | effort undertaken pursu success conclus | also | wonder financi system forc help |
| financ | wonder financi system forc help | financ | sustain growth mani under caus |
| growth | system forc help financ sustain | growth | mani under caus crisi one |
| need | system come end answer would | need | probabl least yet bank look |
| need | base recent analysi consider work | need | move truli safer global financi |
| global | work need move truli safer | global | financi system regulatori front posit |
| need | alreadi move toward new requir | need | rigor intern consist implement new |
| also | consist implement new regulatori framework | also | need better understand shadow bank |
| need | implement new regulatori framework also | need | better understand shadow bank system |
| market | ensur counterparti risk reduct deriv | market | adopt effect nation crossbord resolut |
| need | resolut regim supervisori front enforc | need | strengthen initi set euro area |
| need | remedi number weak area incent | need | better align manag financi institut |
| global | taxpay stakehold seem appropri safer | global | financi system establish need done |
| need | safer global financi system establish | need | done ensur financi system contribut |
| growth | done ensur financi system contribut | growth | europ first repair policymak need |
| need | growth europ first repair policymak | need | focus problem area fast possibl |
| need | focus problem area fast possibl | need | speedili complet cleaningup bank prevent |
| growth | emerg socal zombi bank detriment | growth | moreov bank depend wholesal fund |
| need | deposit complet safe second bank | need | continu build capit liquid buffer |
| also | system contribut lower financi stress | also | contrari believ higher stabl growth |
| growth | also contrari believ higher stabl | growth | particular case economi buffer made |
| economi | higher stabl growth particular case | economi | buffer made high qualiti capit |
| need | qualiti capit liquid asset third | need | fulli understand implic global financi |
| global | third need fulli understand implic | global | financi system crisi global one |
| global | implic global financi system crisi | global | one solut also global respons |
| also | system crisi global one solut | also | global respons contagion therefor fragment |
| global | crisi global one solut also | global | respons contagion therefor fragment better |
| need | fragment better institut integr cooper | need | move back riskshar end good |
| global | move back riskshar end good | global | point nowher evid euro area |
| need | bank union fund long advoc | need | strong effect union need put |
| need | advoc need strong effect union | need | put place soon possibl done |
| growth | currenc area let conclud auster | growth | stabil growth real choic front |
| growth | let conclud auster growth stabil | growth | real choic front us real |
| need | measur fals hope time side | need | choos combin smart demand manag |
| growth | reform foster confid restor stabil | growth | simultan need reboot financi system |
| need | confid restor stabil growth simultan | need | reboot financi system put safer |
| growth | channel resourc support stronger stabl | growth | leadership often defin turn intent |
| growth | pleasur welcom today seminar japan | growth | challeng special case herald futur |
| polici | challeng special case herald futur | polici | maker around world discuss way |
| global | world discuss way reviv sputter | global | economi seminar rais growth japan |
| economi | discuss way reviv sputter global | economi | seminar rais growth japan deserv |
| growth | sputter global economi seminar rais | growth | japan deserv topic japan struggl |
| econom | half last two decad boost | econom | activ year real growth rate |
| growth | boost econom activ year real | growth | rate percent growth slump japan |
| growth | year real growth rate percent | growth | slump japan lost decad sinc |
| growth | special point japan quest rais | growth | two reason sort structur reform |
| growth | structur reform japan implement rais | growth | recent report laid number potenti |
| growth | number potenti fruit avenu exampl | growth | could rais japan today discuss |
| also | could rais japan today discuss | also | import global dimens japan longer |
| global | japan today discuss also import | global | dimens japan longer outlier growth |
| growth | global dimens japan longer outlier | growth | challeng mirror mani develop countri |
| countri | growth challeng mirror mani develop | countri | fiscal polici room exhaust polici |
| polici | mirror mani develop countri fiscal | polici | room exhaust polici rate near |
| polici | countri fiscal polici room exhaust | polici | rate near zero effect popul |
| countri | share challeng govern mani develop | countri | press find right balanc rein |
| market | rein larg fiscal deficit reassur | market | support growth time effect monetari |
| growth | fiscal deficit reassur market support | growth | time effect monetari polici blunt |
| polici | support growth time effect monetari | polici | blunt zerointerest bound effort reform |
| market | zerointerest bound effort reform labor | market | protect sector mind effect incom |
| countri | today distinguish panel discuss first | countri | low interest lowgrowth environ rais |
| growth | low interest lowgrowth environ rais | growth | right macroeconom polici mix fiscal |
| polici | environ rais growth right macroeconom | polici | mix fiscal monetari polici constrain |
| polici | macroeconom polici mix fiscal monetari | polici | constrain said sequenc polici common |
| polici | monetari polici constrain said sequenc | polici | common structur reform agenda especi |
| economi | structur reform agenda especi age | economi | anoth set question relat distribut |
| countri | gap current young old rise | countri | deal increas intergener inequ countri |
| countri | countri deal increas intergener inequ | countri | keep young peopl product motiv |
| econom | fiscal adjust final well understand | econom | implic age growth model tell |
| growth | well understand econom implic age | growth | model tell us worri chang |
| growth | research tell us effect age | growth | inflat less three week global |
| global | growth inflat less three week | global | leader conven japan tokyo host |
| global | opportun see firsthand japan fare | global | crisi devast earthquak last year |
| global | particular reson first devot put | global | consider mind domest policymak easi |
| polici | easi second one deep belief | polici | action make differ peopl alway |
| global | reli well futur week time | global | econom policymak gather tokyo imfworld |
| econom | well futur week time global | econom | policymak gather tokyo imfworld bank |
| economi | opportun time take stock world | economi | stand even import remain done |
| need | fact main messag today urgent | need | implement polici action requir secur |
| polici | messag today urgent need implement | polici | action requir secur global recoveri |
| global | implement polici action requir secur | global | recoveri remind poem robert frost |
| global | let first say word status | global | economi global outlookth imf updat |
| economi | first say word status global | economi | global outlookth imf updat forecast |
| global | say word status global economi | global | outlookth imf updat forecast releas |
| polici | expand asset purchas program big | polici | signal right direct point way |
| global | bank play signific role pull | global | economi great recess get ahead |
| economi | play signific role pull global | economi | great recess get ahead global |
| global | economi great recess get ahead | global | economi still fraught uncertainti still |
| economi | great recess get ahead global | economi | still fraught uncertainti still far |
| need | still fraught uncertainti still far | need | situat bit like jigsaw puzzl |
| need | pictur look like complet pictur | need | piec come togeth depend deliv |
| polici | piec come togeth depend deliv | polici | commit made respect still long |
| global | go continu project gradual recoveri | global | growth like bit weaker anticip |
| growth | continu project gradual recoveri global | growth | like bit weaker anticip even |
| global | twelv month number factor weigh | global | economi center element uncertainti uncertainti |
| economi | month number factor weigh global | economi | center element uncertainti uncertainti whether |
| econom | promis real effect increas diverg | econom | fortun eurozon tepid recoveri unit |
| also | eurozon tepid recoveri unit state | also | see global rippl effect slowdown |
| global | recoveri unit state also see | global | rippl effect slowdown emerg market |
| market | global rippl effect slowdown emerg | market | great concern lowincom countri rise |
| countri | emerg market great concern lowincom | countri | rise food price volatil commod |
| countri | especi among young peopl especi | countri | like greec spain growth simpli |
| growth | especi countri like greec spain | growth | simpli suffici generat job need |
| need | growth simpli suffici generat job | need | think last burden high public |
| economi | sinc second world war mani | economi | present circumst take year fiscal |
| growth | back precrisi level without suffici | growth | delud pain go think last |
| need | implement reform agre well reform | need | wane often ask five year |
| polici | let assur overlook reaction recent | polici | announc seen posit market respons |
| market | recent polici announc seen posit | market | respons turn shortliv time need |
| need | market respons turn shortliv time | need | sustain rebound bounc time differ |
| need | sustain rebound bounc time differ | need | certainti uncertainti need decisionmak real |
| need | time differ need certainti uncertainti | need | decisionmak real actiontak need deliveri |
| need | uncertainti need decisionmak real actiontak | need | deliveri context want focus three |
| polici | want focus three key set | polici | challeng unfinish agenda europ us |
| also | world andc commit imf must | also | deliv promis keep challeng face |
| need | remain epicent crisi urgent action | need | seen seri polici messag step |
| polici | urgent action need seen seri | polici | messag step spain program bank |
| market | even ecb decis earlier month | market | buoy want see coordin implement |
| need | game issu everyon mind late | need | strong effect bank union advoc |
| also | mechan enabl direct recapit bank | also | call consist need action implement |
| need | recapit bank also call consist | need | action implement european firewal notabl |
| countri | implement agre plan fiscal union | countri | level implement program essenti growth |
| growth | countri level implement program essenti | growth | job competit given scale problem |
| countri | given scale problem face eurozon | countri | crisi program extrem difficult recogn |
| also | crisi program extrem difficult recogn | also | recogn altern structur reform fiscal |
| need | altern structur reform fiscal adjust | need | get back right path program |
| also | back right path program must | also | tailor need individu countri well |
| need | path program must also tailor | need | individu countri well balanc ensur |
| countri | must also tailor need individu | countri | well balanc ensur fair burden |
| countri | must recogn huge effort made | countri | provid support need includ financ |
| need | effort made countri provid support | need | includ financ fund part favor |
| financ | countri provid support need includ | financ | fund part favor consid done |
| need | possibl slow pace fiscal adjust | need | focus measur rather target keep |
| also | rather target keep emphasi auster | also | growth believ two reconcil mutual |
| growth | target keep emphasi auster also | growth | believ two reconcil mutual exclus |
| global | uncertainti eurozon remain greatest risk | global | economi today know anoth major |
| economi | eurozon remain greatest risk global | economi | today know anoth major risk |
| countri | next year would effect plung | countri | fiscal cliff reduc growth much |
| growth | plung countri fiscal cliff reduc | growth | much percent failur reach deal |
| also | deal rais debt ceil could | also | forc dramat tighten recogn polit |
| economi | threat unit state world largest | economi | global economi hope polit clariti |
| global | unit state world largest economi | global | economi hope polit clariti emerg |
| economi | state world largest economi global | economi | hope polit clariti emerg soon |
| also | soon action avoid fiscal cliff | also | concret plan bring debt gradual |
| countri | commit fulfil respect emerg lowincom | countri | alreadi deliv key promis crisi |
| market | crisi hit light dark emerg | market | abl lead global economi time |
| global | dark emerg market abl lead | global | economi time need lowincom countri |
| economi | emerg market abl lead global | economi | time need lowincom countri well |
| need | abl lead global economi time | need | lowincom countri well prepar sever |
| countri | global economi time need lowincom | countri | well prepar sever year strong |
| growth | well prepar sever year strong | growth | howev dynam shift illus decoupl |
| market | illus decoupl vanish major emerg | market | slow must follow action need |
| need | market slow must follow action | need | posit global growth leader futur |
| global | must follow action need posit | global | growth leader futur focus counter |
| growth | follow action need posit global | growth | leader futur focus counter vulner |
| growth | other must ensur high credit | growth | compromis financi stabil jeopard futur |
| growth | compromis financi stabil jeopard futur | growth | key prepar potenti spillov part |
| countri | morocco poland found true lowincom | countri | perform relat well crisi today |
| econom | well crisi today expos shift | econom | fortun simpli mean potenti fallout |
| economi | simpli mean potenti fallout advanc | economi | also think impact slowdown emerg |
| also | mean potenti fallout advanc economi | also | think impact slowdown emerg market |
| market | also think impact slowdown emerg | market | mani link also think percent |
| also | slowdown emerg market mani link | also | think percent increas global food |
| global | link also think percent increas | global | food price sinc june take |
| countri | price increas percent juli alon | countri | reli heavili import grain lesotho |
| also | reli heavili import grain lesotho | also | hit drought especi vulner qualiti |
| polici | hit drought especi vulner qualiti | polici | prepar countri defend crisi continu |
| countri | especi vulner qualiti polici prepar | countri | defend crisi continu qualiti polici |
| polici | countri defend crisi continu qualiti | polici | help defend futur shock time |
| need | futur shock time intern communiti | need | lend even hand help help |
| financ | help help includ ensur suffici | financ | imf concession lend year ahead |
| growth | take time build foundat inclus | growth | employ heart true transform must |
| econom | true transform must begin goal | econom | stabil transit also need extern |
| also | begin goal econom stabil transit | also | need extern support financi also |
| need | goal econom stabil transit also | need | extern support financi also way |
| also | also need extern support financi | also | way fdi market access technic |
| market | support financi also way fdi | market | access technic assist bilater donor |
| countri | imf part provid support mani | countri | involv advic technic assist financ |
| financ | countri involv advic technic assist | financ | alreadi commit billion three countri |
| countri | financ alreadi commit billion three | countri | world huge stake success transform |
| need | final point challeng face imf | need | respond chang global economi mean |
| global | face imf need respond chang | global | economi mean fund need adapt |
| economi | imf need respond chang global | economi | mean fund need adapt better |
| need | chang global economi mean fund | need | adapt better serv need chang |
| need | fund need adapt better serv | need | chang global membership much underway |
| global | adapt better serv need chang | global | membership much underway three area |
| global | area particular first view strengthen | global | stabil fund core mandat enhanc |
| countri | mandat enhanc surveil connect dot | countri | focus stabil system whole want |
| global | second better place help strengthen | global | financi safeti net recent increas |
| countri | safeti net recent increas firepow | countri | make except contribut billion dollar |
| also | support imf mention strive ensur | also | augment resourc support lowincom countri |
| countri | also augment resourc support lowincom | countri | via poverti reduct growth trust |
| growth | lowincom countri via poverti reduct | growth | trust prgt third strengthen govern |
| countri | quota share dynam emerg develop | countri | percent total percent sinc ensur |
| countri | total percent sinc ensur bric | countri | top ten fund sharehold creat |
| countri | requir quota increas close reach | countri | requir approv board reform hope |
| also | reform hope achiev goal tokyo | also | push get percent vote power |
| need | push get percent vote power | need | board reform aim reach final |
| countri | differ promis today made policymak | countri | institut includ fund collect promis |
| global | cooper benefit promis put broad | global | interest narrow nation interest promis |
| also | robert frost wrote promis keep | also | road taken opportun take right |
| global | opportun take right road road | global | recoveri must walk togeth thank |
| polici | tonight dinner inaugur bank thailand | polici | forum asia near ten day |
| global | solut mere rhetor asia linchpin | global | econom stabil heard grow statur |
| econom | mere rhetor asia linchpin global | econom | stabil heard grow statur global |
| global | econom stabil heard grow statur | global | economi also corridor fund tri |
| economi | stabil heard grow statur global | economi | also corridor fund tri understand |
| also | heard grow statur global economi | also | corridor fund tri understand global |
| global | also corridor fund tri understand | global | economi agent improv stabil task |
| economi | corridor fund tri understand global | economi | agent improv stabil task monument |
| econom | improv stabil task monument intersect | econom | polit know troubl time global |
| global | econom polit know troubl time | global | economi prospect bring closur global |
| economi | polit know troubl time global | economi | prospect bring closur global crisi |
| global | global economi prospect bring closur | global | crisi yet clear horizon past |
| econom | regrett becom worrisom mani indic | econom | activ invest employ manufactur slight |
| also | slight deterior europ unit state | also | key emerg market south east |
| market | unit state also key emerg | market | south east asia imf updat |
| economi | asia imf updat assess world | economi | releas next week growth outlook |
| growth | world economi releas next week | growth | outlook somewhat less anticip three |
| polici | even lower project depend right | polici | action taken given eye world |
| growth | weak sovereign weak bank weak | growth | end stori without continu progress |
| growth | continu see damag effect stabil | growth | europ across globe context want |
| econom | tonight three main issu asia | econom | resili adaptabilityso first point asia |
| global | first point asia resili face | global | crisi seen asia emerg global |
| global | global crisi seen asia emerg | global | econom stand intact stand strengthen |
| econom | crisi seen asia emerg global | econom | stand intact stand strengthen use |
| countri | come chang come do everyon | countri | paraphras majesti asia thailand work |
| global | help posit asia major engin | global | growth let cite two concret |
| growth | posit asia major engin global | growth | let cite two concret exampl |
| global | hard surpris region well integr | global | economi testament region resili asia |
| economi | surpris region well integr global | economi | testament region resili asia bounc |
| global | asia bounc back quick leader | global | growth also illustr thailand experi |
| growth | bounc back quick leader global | growth | also illustr thailand experi growth |
| also | back quick leader global growth | also | illustr thailand experi growth declin |
| growth | growth also illustr thailand experi | growth | declin sharpli aftermath crisi quick |
| growth | stori parallel elsewher region sinc | growth | across asia pacif near twice |
| global | asia pacif near twice fast | global | growth averag almost percent year |
| growth | pacif near twice fast global | growth | averag almost percent year compar |
| growth | even starker compar astonish percent | growth | emerg develop asia thing econom |
| econom | growth emerg develop asia thing | econom | growth envi other must asia |
| growth | emerg develop asia thing econom | growth | envi other must asia region |
| growth | asia region world policymak fret | growth | slow countri percent taken togeth |
| countri | world policymak fret growth slow | countri | percent taken togeth stronger bank |
| global | mean asia immun fresh turbul | global | economi today interconnect world well |
| economi | asia immun fresh turbul global | economi | today interconnect world well know |
| growth | becom visibl across asia export | growth | lost steam region stock market |
| market | growth lost steam region stock | market | suffer selloff investor everywher becom |
| polici | central banker determin much loosen | polici | support growth without unleash domest |
| growth | determin much loosen polici support | growth | without unleash domest vulner balanc |
| countri | domest vulner balanc natur vari | countri | countri overal would seem ampl |
| countri | vulner balanc natur vari countri | countri | overal would seem ampl polici |
| polici | countri overal would seem ampl | polici | space look ahead asia must |
| growth | must continu build second engin | growth | base domest invest consumpt beyond |
| economi | must give current trend asia | economi | larger g messag clear asia |
| global | messag clear asia grow stake | global | economi global economi grow stake |
| economi | clear asia grow stake global | economi | global economi grow stake asia |
| global | asia grow stake global economi | global | economi grow stake asia ii |
| economi | grow stake global economi global | economi | grow stake asia ii asian |
| global | leadership region cooper seen benefit | global | polici coordin respons crisi exampl |
| polici | region cooper seen benefit global | polici | coordin respons crisi exampl major |
| econom | crisi help avert far greater | econom | calam five year crisi see |
| econom | good model success region polit | econom | cooper recent year expand includ |
| also | object enhanc intraregion financi mechan | also | mind revamp chiang mai initi |
| also | broaden use crisi prevent might | also | mention cooper mechan region newli |
| countri | board effort echo grow interconnect | countri | region alreadi underpin trade invest |
| also | alreadi underpin trade invest connect | also | help provid better understand sustain |
| econom | help provid better understand sustain | econom | growth guard spillov one countri |
| growth | provid better understand sustain econom | growth | guard spillov one countri polici |
| countri | econom growth guard spillov one | countri | polici other spillov effect also |
| polici | growth guard spillov one countri | polici | other spillov effect also someth |
| also | countri polici other spillov effect | also | someth imf give much greater |
| countri | much greater focus work membership | countri | mani way uniqu place provid |
| also | forward want partner messag let | also | candid well awar histori relationship |
| countri | revis textbook crisi resolut depend | countri | specif region tie mean practic |
| econom | see three main element first | econom | analysi polici advic must becom |
| polici | main element first econom analysi | polici | advic must becom even relev |
| need | adopt lend instrument meet asia | need | smarter lend third must keep |
| econom | imf true reflect region new | econom | stand world let touch dimens |
| polici | world let touch dimens imf | polici | advicew recogn advic need tune |
| need | imf polici advicew recogn advic | need | tune chang global economi mention |
| global | recogn advic need tune chang | global | economi mention make concert effort |
| economi | advic need tune chang global | economi | mention make concert effort examin |
| also | frontier new type integr analysi | also | delv deepli health financi sector |
| economi | health financi sector impact real | economi | socal macrofinanci linkag reinvent wheel |
| polici | lend instrumentsa well time relev | polici | advic imf must also abl |
| also | relev polici advic imf must | also | abl lend way even suit |
| need | abl lend way even suit | need | countri today part ensur suffici |
| countri | lend way even suit need | countri | today part ensur suffici resourc |
| need | suffici resourc import principl imf | need | abl stand behind member meet |
| need | abl stand behind member meet | need | affect crisi asia contribut fund |
| global | secur fact asia major contributor | global | safeti net boost imf resourc |
| countri | lend instrument better tailor individu | countri | expand lend toolkit purpos make |
| polici | issu matter howev imf evenhand | polici | advic critic build block credibl |
| countri | tell object analysi matter whether | countri | concern larg small pleas analysi |
| also | larg small pleas analysi evenhand | also | relat imf govern structur represent |
| global | reflect chang dynam member stand | global | economi good news packag socal |
| economi | chang dynam member stand global | economi | good news packag socal quota |
| market | signific boost vote power emerg | market | economi asia particular imf fact |
| economi | boost vote power emerg market | economi | asia particular imf fact reform |
| countri | reform come effect three asian | countri | china japan india among ten |
| polici | partnership adopt holist approach concret | polici | action outcom result spectacular rest |
| countri | good effect servic asian member | countri | servic thailand import import fund |
| global | thailand import import fund import | global | economi hope believ import region |
| economi | import import fund import global | economi | hope believ import region well |
| countri | fund role eastern european transit | countri | want particular highlight critic role |
| market | two decad success transit plan | market | economi live standard converg toward |
| economi | decad success transit plan market | economi | live standard converg toward west |
| also | live standard converg toward west | also | overcom three major crise first |
| global | earli russian crisi final recent | global | financi crisi strong institut built |
| financ | transit process often associ emerg | financ | sometim tough advic dispens period |
| polici | union eu membership provid import | polici | anchor crown achiev eu access |
| econom | prepar euro adopt next step | econom | integr mani commonwealth independ state |
| countri | commonwealth independ state cis balkan | countri | continu assist frame macro polici |
| polici | countri continu assist frame macro | polici | surveil work warn worrisom buildup |
| countri | capac build underway fact mani | countri | emerg communism regard imf technic |
| polici | assist train valuabl lend broader | polici | advic understand signific challeng let |
| countri | understand signific challeng let rememb | countri | emerg communism simpli didn basic |
| market | didn basic build block function | market | economi monetari polici conduct moscow |
| economi | basic build block function market | economi | monetari polici conduct moscow new |
| polici | block function market economi monetari | polici | conduct moscow new independ state |
| market | product direct trade bankruptci procedur | market | regul simpli exist imf manag |
| market | prioriti time establish institut framework | market | system oper smooth imf follow |
| countri | coordin vast outpour help western | countri | provid technic assist resourc staff |
| polici | new legal regulatori tool formul | polici | execut lack smart educ peopl |
| need | learn person attest mani encount | need | howev fullscal reset skill sometim |
| econom | begin welltrain offici backbon effect | econom | manag found idea jvi soon |
| global | biggest shock sinc fall communism | global | financi crisi collaps lehman brother |
| economi | boom abrupt came end mani | economi | eastern europ went tailspin growth |
| growth | economi eastern europ went tailspin | growth | trade employ collaps govern financi |
| polici | meltdown know due quick wellexecut | polici | adjust support unpreced intern financi |
| polici | boombust experi eastern europ lie | polici | crisi second stage crisi path |
| econom | made adjust nonetheless close financi | econom | tie west mean region expos |
| countri | expos eurozon crisi particular true | countri | vulner remain high substanti financ |
| financ | countri vulner remain high substanti | financ | need widespread foreigncurr lend bank |
| need | vulner remain high substanti financ | need | widespread foreigncurr lend bank saddl |
| economi | saddl high nonperform loan wonder | economi | affect spillov crisi intensifi second |
| countri | spillov crisi intensifi second half | countri | level answer address vulner headon |
| financ | headon improv competit reduc fiscal | financ | need deal nonperform loan given |
| need | improv competit reduc fiscal financ | need | deal nonperform loan given institut |
| polici | region yet abl design implement | polici | necessari meet challeng also need |
| also | implement polici necessari meet challeng | also | need reactiv success intern cooper |
| need | polici necessari meet challeng also | need | reactiv success intern cooper crisi |
| also | new circumst parent bank may | also | includ financi support possibl precautionari |
| financ | communism continu help whenev ask | financ | polici advic yes capac build |
| polici | continu help whenev ask financ | polici | advic yes capac build jvi |
| need | alreadi adapt region evolv train | need | offici new eu member state |
| countri | macro model fiscal rule time | countri | converg still less advanc take |
| polici | transit process strong institut skill | polici | maker staff key sustain success |
| also | nikkei corpor host today event | also | humbl financ minist azumi warm |
| financ | host today event also humbl | financ | minist azumi warm introductori remark |
| global | power multilater today face worst | global | financi crisi sinc great depress |
| need | crisi sinc great depress spirit | need | never word haruki murakami inspir |
| global | annual meet imf world bank | global | communiti come address world press |
| econom | communiti come address world press | econom | challeng collect spirit guid us |
| need | japan earthquak tsunami symbol world | need | today mind let talk three |
| econom | talk three thing afternoon main | econom | challeng daylet begin issu primari |
| global | daylet begin issu primari import | global | economi ongo effort break free |
| economi | begin issu primari import global | economi | ongo effort break free shackl |
| econom | regrett becom worrisom mani indic | econom | activ invest employ manufactur deterior |
| also | manufactur deterior europ unit state | also | key emerg market brazil china |
| market | unit state also key emerg | market | brazil china india imf updat |
| economi | india imf updat assess world | economi | releas ten day global growth |
| global | world economi releas ten day | global | growth outlook somewhat less anticip |
| growth | economi releas ten day global | growth | outlook somewhat less anticip three |
| polici | even lower project depend right | polici | action taken certain extraordinari effort |
| need | crisi encourag said progress continu | need | overcom crisi decis avoid damag |
| growth | decis avoid damag effect stabil | growth | europ across globe make mistak |
| global | europ across globe make mistak | global | crisi today interconnect world longer |
| global | sinc asia contribut half total | global | econom growth mean asia immun |
| econom | asia contribut half total global | econom | growth mean asia immun spillov |
| growth | contribut half total global econom | growth | mean asia immun spillov europ |
| countri | spread alreadi affect number asian | countri | japan two risk primari concern |
| need | bring second point effect solut | need | ground cooper mean practic imf |
| polici | imf research indic coordin strengthen | polici | across g countri could rais |
| countri | coordin strengthen polici across g | countri | could rais global gdp percent |
| global | across g countri could rais | global | gdp percent boost job million |
| global | job million medium term time | global | unemploy reach crisi proport aristotl |
| need | sum part today ever world | need | vision whole idea collect polici |
| polici | need vision whole idea collect | polici | action benefit reflect g mutual |
| countri | import role fund lay interconnect | countri | indic polici one countri affect |
| polici | fund lay interconnect countri indic | polici | one countri affect other spillov |
| countri | interconnect countri indic polici one | countri | affect other spillov analysi recent |
| countri | spillov analysi recent seen exampl | countri | take account connect within across |
| polici | account connect within across region | polici | coordin practic action taken recent |
| need | unifi supervisori framework yes element | need | hurdl implement question push ahead |
| growth | toward ultim goal last stabil | growth | share stabil growth achiev goal |
| growth | last stabil growth share stabil | growth | achiev goal requir coordin action |
| growth | weak sovereign weak bank weak | growth | must break three first restor |
| countri | three first restor sovereign strength | countri | must deal decis issu public |
| economi | issu public debt mani advanc | economi | press heavili growth deficit reduct |
| growth | mani advanc economi press heavili | growth | deficit reduct essenti countri face |
| countri | heavili growth deficit reduct essenti | countri | face market pressur altern other |
| market | deficit reduct essenti countri face | market | pressur altern other howev adjust |
| global | percent would jeopard us recoveri | global | recoveri europ mention must continu |
| countri | must reach new height even | countri | go slowli fiscal adjust short |
| also | sector well restor health sovereign | also | need restor health financi sector |
| need | well restor health sovereign also | need | restor health financi sector back |
| economi | financi sector back support destabil | economi | back function dysfunct back servic |
| need | must keep eye main goal | need | financi institut healthi enough deliv |
| economi | institut healthi enough deliv credit | economi | need creat growth job certain |
| need | healthi enough deliv credit economi | need | creat growth job certain progress |
| growth | deliv credit economi need creat | growth | job certain progress agreement relat |
| market | import financi institut otc deriv | market | financi sector reform area asia |
| global | asia progress asia asid ask | global | financi system safer today prelehman |
| need | go detail imf laid think | need | done better regul stronger supervis |
| need | supervis proper incent privat sector | need | coordin across institut market border |
| market | sector need coordin across institut | market | border third sustain growth need |
| growth | institut market border third sustain | growth | need sovereign financi health get |
| need | market border third sustain growth | need | sovereign financi health get growth |
| growth | need sovereign financi health get | growth | engin turn back carri spark |
| growth | g goal strong sustain balanc | growth | essenti would add need also |
| need | balanc growth essenti would add | need | also growth inclus creat job |
| also | growth essenti would add need | also | growth inclus creat job structur |
| growth | essenti would add need also | growth | inclus creat job structur reform |
| market | across rang labor product servic | market | program imf support includ reform |
| growth | asia cours manag maintain momentum | growth | despit global crisi fact asia |
| global | manag maintain momentum growth despit | global | crisi fact asia lead global |
| global | global crisi fact asia lead | global | recoveri region done sustain reform |
| econom | sheet well pay attent domest | econom | health asia crucial role play |
| global | health asia crucial role play | global | econom rebalanc need whole world |
| econom | asia crucial role play global | econom | rebalanc need whole world recov |
| need | role play global econom rebalanc | need | whole world recov grow sustain |
| countri | way lower trade surplus asian | countri | instanc promis sign rebalanc came |
| countri | sign rebalanc came crisi enough | countri | need continu effort strengthen domest |
| need | rebalanc came crisi enough countri | need | continu effort strengthen domest demand |
| growth | domest demand shift toward consumptionl | growth | china improv condit privat invest |
| economi | condit privat invest mani asean | economi | good exampl asia leader recogn |
| also | recogn kind rebalanc good asia | also | good world time recogn growth |
| growth | also good world time recogn | growth | rebalanc balanc issu inclus growth |
| growth | growth rebalanc balanc issu inclus | growth | mind asian policymak policymak world |
| global | asia world iii japan role | global | communitywhich bring third main point |
| countri | world know better enorm challeng | countri | face continu recoveri tsunami one |
| growth | age popul anoth yet tremend | growth | potenti japan well cannot help |
| countri | particip workforc level common g | countri | would increas japan potenti output |
| also | percent good opportun miss japan | also | advantag fastgrow region membership transpacif |
| also | help strengthen japan integr asia | also | catalyz reform home partnership illustr |
| global | japan tremend spirit communiti local | global | level fellow citizen need stood |
| need | local global level fellow citizen | need | stood great east japan earthquak |
| countri | adapt japanes peopl lose quarter | countri | electr generat would driven mani |
| economi | electr generat would driven mani | economi | ground last summer year japanes |
| economi | amaz length conserv energi keep | economi | move forward peopl work weekend |
| countri | selfsacrific cannot imagin happen mani | countri | togeth strong implement reconstruct spend |
| economi | strong implement reconstruct spend japan | economi | turn around ganbarou nippon ã |
| global | † æ- ¥ æœ ¬ | global | economi face darkest hour stood |
| economi | æ- ¥ æœ ¬ global | economi | face darkest hour stood fellow |
| global | face darkest hour stood fellow | global | citizen twice recent time japan |
| global | resourc help stave even dire | global | econom collaps japan leadership recent |
| econom | help stave even dire global | econom | collaps japan leadership recent decis |
| countri | japan leadership recent decis member | countri | increas imf resourc billion especi |
| need | imf stand behind member meet | need | affect crisi face common danger |
| global | face challeng home japan taken | global | view nobl view steadfast believ |
| global | g world come depend japan | global | citizenship deep support intern cooper |
| also | consist support imf final let | also | note japan well repres senior |
| global | driven apart must use grow | global | interconnect come togeth fund recogn |
| countri | reform come effect three asian | countri | china india japan cours among |
| global | host eye japan seek find | global | solut global challeng whole world |
| global | japan seek find global solut | global | challeng whole world look japan |
| need | spirit commit multilater time world | need | qualiti need japan ever behalf |
| need | multilater time world need qualiti | need | japan ever behalf imf say |
| market | discuss sovereign risk debt capit | market | issu particular would like thank |
| market | debt manag deepen local debt | market | true privileg among us today |
| market | challeng public debt manag period | market | stress cyclic weak hope discuss |
| market | vulner restor stabil debt capit | market | clear reach critic junctur financi |
| market | junctur financi crisi deepli affect | market | confid financi stabil continu weigh |
| econom | confid financi stabil continu weigh | econom | recoveri europ beyond european sovereign |
| market | support weaken financi system time | market | increas worri impact public debt |
| global | eye major challeng given potenti | global | downturn remain sizabl continu stress |
| market | manag central banker oper b | market | access current environmenti begin lay |
| countri | sovereign bond spread euro area | countri | gone far beyond level inde |
| market | bond issu sovereign greater debt | market | involv central bank core european |
| countri | involv central bank core european | countri | third challeng pose limit tradit |
| market | fiscal vulner play key role | market | assess sovereign risk note mani |
| economi | note mani occas vulner advanc | economi | left unaddress undermin econom recoveri |
| econom | advanc economi left unaddress undermin | econom | recoveri jeopard financi stabil yet |
| economi | jeopard financi stabil yet hardesthit | economi | implement pain deficit reduct measur |
| also | substanti increas sovereign bond spread | also | seen major sovereign downgrad increas |
| market | downgrad increas volatil govern debt | market | continu stress mani sovereign fund |
| market | continu stress mani sovereign fund | market | new challengesobvi elev govern debt |
| also | becom key risk financi stabil | also | face sever challeng one financi |
| countri | avail least one asset per | countri | provid guarante purchas power origin |
| need | crisisinduc increas demand asset last | need | develop asset liabil manag framework |
| countri | launch fund aim low middleincom | countri | would help increas analyt capac |
| polici | associ public debt c role | polici | debt market outcomesth import shortterm |
| market | debt c role polici debt | market | outcomesth import shortterm issu face |
| need | shortterm issu face debt manag | need | restor market confid european economi |
| market | face debt manag need restor | market | confid european economi face greatest |
| economi | need restor market confid european | economi | face greatest pressur confid unlik |
| polici | crisi remain unaddress regard convent | polici | import role play fiscal policyfirst |
| need | policyfirst credibl fiscal adjust effort | need | contain market volatil put economi |
| market | fiscal adjust effort need contain | market | volatil put economi back path |
| economi | need contain market volatil put | economi | back path recoveri requir mediumterm |
| polici | fiscal framework includ safeguard potenti | polici | uturn cours excess nearterm fiscal |
| polici | depend emerg form common fiscal | polici | introduct limit form common debt |
| financ | small size condit central control | financ | via common secur could exampl |
| polici | adequ backstop monetari policyunlik fiscal | polici | monetari polici mani advanc economi |
| polici | monetari policyunlik fiscal polici monetari | polici | mani advanc economi remain extraordinarili |
| economi | polici monetari polici mani advanc | economi | remain extraordinarili accommod exampl euro |
| polici | longterm refinanc oper ltros monetari | polici | cannot provid last solut under |
| polici | under crisi ecb room eas | polici | rate signal commit accommod stanc |
| also | accommod stanc prolong period ecb | also | need ensur monetari support effect |
| need | stanc prolong period ecb also | need | ensur monetari support effect continu |
| polici | extent deleverag fair consist weak | polici | scenario present april global financi |
| global | weak polici scenario present april | global | financi stabil report time estim |
| countri | focus sovereign balanc sheet risk | countri | face market pressur debt manag |
| market | balanc sheet risk countri face | market | pressur debt manag must choos |
| market | liabil manag oper help reduc | market | volatil support secondari market liquid |
| market | reduc market volatil support secondari | market | liquid recent experi greec underscor |
| need | liquid recent experi greec underscor | need | better understand tradeoff involv time |
| economi | learn regard benefit experi emerg | economi | past two decad recent imf |
| economi | strengthen sovereign balanc sheet advanc | economi | especi euro area precondit global |
| global | economi especi euro area precondit | global | financi stabil continu econom recoveri |
| econom | precondit global financi stabil continu | econom | recoveri debt manag play crucial |
| global | pleasur would like thank center | global | develop sponsor event center realli |
| econom | commit sustain develop idea strive | econom | growth environment protect social progress |
| growth | sustain develop idea strive econom | growth | environment protect social progress time |
| econom | social progress time idea differ | econom | environment social object seen distinct |
| econom | today believ face tripl crisi | econom | crisi environment crisi increas social |
| global | environment crisi increas social crisi | global | economi still rock turmoil uncertain |
| economi | crisi increas social crisi global | economi | still rock turmoil uncertain prospect |
| growth | still rock turmoil uncertain prospect | growth | job planet warm rapid unknown |
| need | intric interplay cannot address isol | need | generat virtuous avoid vicious circl |
| econom | must start basic platform restor | econom | stabil growth base achiev green |
| growth | basic platform restor econom stabil | growth | base achiev green growth inclus |
| growth | stabil growth base achiev green | growth | inclus growth build block sustain |
| growth | base achiev green growth inclus | growth | build block sustain equit econom |
| econom | growth build block sustain equit | econom | futur let talk three thing |
| growth | stabil turn pave way robust | growth | product economi first key step |
| economi | pave way robust growth product | economi | first key step journey cours |
| econom | past four year mire worst | econom | crisi sinc great depress great |
| global | great depress great uncertainti hang | global | prospect mani region today still |
| growth | today still stuck trap low | growth | high unemploy right million peopl |
| need | take first step ladder success | need | strategi good stabil good growth |
| growth | need strategi good stabil good | growth | stabil conduc growth growth facilit |
| growth | stabil good growth stabil conduc | growth | growth facilit stabil must start |
| growth | good growth stabil conduc growth | growth | facilit stabil must start advanc |
| economi | facilit stabil must start advanc | economi | especi europ policymak need take |
| need | advanc economi especi europ policymak | need | take decis step break free |
| need | free crisi number aspect first | need | rekindl demand today get growth |
| growth | need rekindl demand today get | growth | engin run requir combin accommod |
| polici | run requir combin accommod monetari | polici | ii use common resourc provid |
| polici | bank iii fiscal avail growthfriend | polici | context fiscal stabil incred import |
| countri | lower public debt without plan | countri | forc make even bigger adjust |
| growth | spark demand today lead sustain | growth | tomorrow mean reform suppli side |
| economi | suppli side boost product capac | economi | product market reform especi nontrad |
| market | boost product capac economi product | market | reform especi nontrad sector region |
| market | sector region lack competit labor | market | reform especi disenfranchis group like |
| also | worker regain foot rest world | also | need invest stabil growth develop |
| need | regain foot rest world also | need | invest stabil growth develop countri |
| growth | world also need invest stabil | growth | develop countri relat well right |
| countri | need invest stabil growth develop | countri | relat well right sourc strength |
| economi | sourc strength stabil condit advanc | economi | continu deterior countri face cold |
| countri | condit advanc economi continu deterior | countri | face cold chill must stand |
| polici | chill must stand readi rebuild | polici | buffer serv well crisi fiscal |
| countri | especi condit continu deterior develop | countri | also need econom diversif trade |
| also | condit continu deterior develop countri | also | need econom diversif trade integr |
| need | continu deterior develop countri also | need | econom diversif trade integr greater |
| econom | deterior develop countri also need | econom | diversif trade integr greater invest |
| need | integr greater invest infrastructur infrastructur | need | subsaharan africa exampl amount around |
| countri | intern communiti must continu help | countri | help part imf continu stand |
| need | stand crisi first broke respond | need | lowincom member quadrupl lend doubl |
| also | interest rate extend end year | also | use resourc help countri cope |
| countri | year also use resourc help | countri | cope econom consequ natur disast |
| econom | use resourc help countri cope | econom | consequ natur disast think place |
| need | like kenya burkina faso imf | need | resourc concession lend help vulner |
| countri | resourc concession lend help vulner | countri | navig increas volatil world one |
| economi | one top prioriti get green | economi | rightso first foremost need get |
| need | green economi rightso first foremost | need | get growth go differ track |
| growth | rightso first foremost need get | growth | go differ track crisi awar |
| econom | go differ track crisi awar | econom | growth potenti harm environ environment |
| growth | differ track crisi awar econom | growth | potenti harm environ environment degrad |
| econom | environ environment degrad turn hurt | econom | perform need get green economi |
| need | degrad turn hurt econom perform | need | get green economi right climat |
| economi | econom perform need get green | economi | right climat chang clear one |
| need | highest rainfal volatil region desper | need | rain agricultur growth employ write |
| growth | region desper need rain agricultur | growth | employ write wall read alreadi |
| global | million undernourish children look threat | global | economi peopl live rise water |
| economi | undernourish children look threat global | economi | peopl live rise water level |
| polici | price right mean use fiscal | polici | make sure harm reflect price |
| polici | link rio kind environmentallysensit fiscal | polici | two distinct advantag first best |
| also | price provid power incent chang | also | galvan clean technolog develop deploy |
| countri | effici renew confirm experi mani | countri | push toward greener invest great |
| countri | greener invest great boon develop | countri | lot scope fill infrastructur gap |
| growth | africa clean technolog lead higher | growth | greener growth best world second |
| growth | technolog lead higher growth greener | growth | best world second difficult budgetari |
| countri | world second difficult budgetari time | countri | need revenu kind tax taxlik |
| need | second difficult budgetari time countri | need | revenu kind tax taxlik instrument |
| need | emiss would rais quarter billion | need | climat adapt mitig develop countri |
| countri | need climat adapt mitig develop | countri | resourc develop countri commit mobil |
| countri | mitig develop countri resourc develop | countri | commit mobil present howev base |
| countri | use gridlock road farmer rich | countri | undercharg charg increas scarc water |
| countri | increas scarc water resourc mani | countri | continu subsid pollut energi system |
| countri | subsidi cost budget cost planet | countri | reduc must protect vulner group |
| polici | year event talk use fiscal | polici | reform energi subsidi promot green |
| growth | reform energi subsidi promot green | growth | ask staff collabor other put |
| countri | come action guidanc develop develop | countri | precis get price right least |
| also | togeth unit nation world bank | also | work hard issu natur resourc |
| growth | affect nation wealth get inclus | growth | rightthi bring third point today |
| need | rightthi bring third point today | need | make growth inclus mean make |
| growth | third point today need make | growth | inclus mean make sure share |
| econom | societi togeth rip apart devast | econom | consequ inde recent research show |
| countri | consequ inde recent research show | countri | equit distribut incom associ greater |
| growth | associ greater macroeconom stabil sustain | growth | longer term bound togeth clear |
| growth | job must forefront strategi inclus | growth | decent steadi employ sure foundat |
| growth | fulfil live work way spur | growth | job make sure growth get |
| growth | spur growth job make sure | growth | get produc job need affect |
| need | sure growth get produc job | need | affect dimens polici labor market |
| polici | produc job need affect dimens | polici | labor market fiscal monetari financi |
| market | need affect dimens polici labor | market | fiscal monetari financi trade macroprudenti |
| market | intern labor organ employ labor | market | issu also work intern trade |
| also | organ employ labor market issu | also | work intern trade union confeder |
| also | repres world union difficult day | also | look way help promot inclus |
| growth | look way help promot inclus | growth | includ better access trade financ |
| financ | growth includ better access trade | financ | better transpar govern better social |
| growth | play govern busi environ make | growth | inclus among arab transit countri |
| countri | growth inclus among arab transit | countri | fiscal side new research show |
| economi | role reduc inequ especi advanc | economi | time tighten budget imper keep |
| economi | even incom distribut well advanc | economi | develop countri need alloc public |
| countri | distribut well advanc economi develop | countri | need alloc public spend social |
| need | well advanc economi develop countri | need | alloc public spend social safeti |
| countri | public spend social safeti net | countri | social safeti net might stand |
| countri | surviv catastroph make reform possibl | countri | need mobil revenu think extra |
| need | catastroph make reform possibl countri | need | mobil revenu think extra percent |
| also | exempt strengthen revenu custom administr | also | need target spend peopl need |
| need | strengthen revenu custom administr also | need | target spend peopl need move |
| need | also need target spend peopl | need | move away univers price subsidi |
| also | compens popul cash transfer mozambiqu | also | phase poorlytarget fuel subsidi use |
| countri | spend health educ rise faster | countri | imfsupport program develop countri whole |
| countri | faster countri imfsupport program develop | countri | whole averag five year program |
| countri | Â ¾ percentag point obvious | countri | deserv credit job simpli help |
| also | job simpli help along way | also | collabor close intern labor organ |
| countri | protect floor initi help poor | countri | set basic level protect afford |
| global | want ban kimoon put vital | global | economi harmoni global societi nurtur |
| economi | ban kimoon put vital global | economi | harmoni global societi nurtur global |
| global | put vital global economi harmoni | global | societi nurtur global inherit lay |
| global | economi harmoni global societi nurtur | global | inherit lay foundat everi singl |
| need | divers beauti wonder happen see | need | reviv sens belong larger famili |
| growth | andrew jonathan ostri inequ sustain | growth | two side coin imf staff |
| polici | sanjeev gupta incom inequ fiscal | polici | imf staff discuss paper forthcom |
| economi | paper forthcom revenu mobil develop | economi | imf fiscal affair depart march |
| also | council roland berger consult would | also | like extend special thank wolfgang |
| also | made altern arrang us even | also | extrem grate perhap fortuit time |
| need | today spirit behind leader dialogu | need | transatlant broader polici discuss cooper |
| polici | leader dialogu need transatlant broader | polici | discuss cooper critic ever five |
| growth | crisi end goal restor stabil | growth | polici resolv test yet test |
| polici | end goal restor stabil growth | polici | resolv test yet test clariti |
| need | brighten sky lift dark crisi | need | fix financi intermedi pave way |
| need | intermedi pave way brighter futur | need | financi sector help real economi |
| economi | need financi sector help real | economi | tonight want talk three thing |
| global | tonight want talk three thing | global | econom developmentslet begin short overview |
| econom | want talk three thing global | econom | developmentslet begin short overview global |
| global | econom developmentslet begin short overview | global | econom develop unfortun news good |
| econom | developmentslet begin short overview global | econom | develop unfortun news good global |
| global | econom develop unfortun news good | global | economi still struggl regain foot |
| economi | develop unfortun news good global | economi | still struggl regain foot difficult |
| polici | regain foot difficult circumst bold | polici | action includ ecb key partner |
| polici | gain made fragil depend continu | polici | action worri sign lose ground |
| countri | mood ahead greek elect spain | countri | europ come renew market pressur |
| market | spain countri europ come renew | market | pressur unit state latest growth |
| growth | market pressur unit state latest | growth | estim job number disappoint mistak |
| global | estim job number disappoint mistak | global | risk rise euro area crisi |
| market | spike past credit boom emerg | market | threaten burst risk even troubl |
| polici | lack clariti confid direct effect | polici | major factor yes respons date |
| need | histori time deep uncertainti policymak | need | lead market action rather allow |
| market | deep uncertainti policymak need lead | market | action rather allow market fear |
| market | lead market action rather allow | market | fear lead polici must act |
| polici | rather allow market fear lead | polici | must act upon lesson ii |
| need | cycl crisisthi bring second point | need | break danger cycl keep us |
| econom | us stuck crisi mode one | econom | cycl feedback loop weak sovereign |
| growth | weak sovereign weak bank weak | growth | continu undermin tonight also anoth |
| also | weak growth continu undermin tonight | also | anoth cycl mind polit economi |
| economi | also anoth cycl mind polit | economi | cycl becom familiar sinc start |
| polici | subsid urgenc lost momentum wane | polici | discours begin fractur focus backyard |
| growth | stake rise point stabil stake | growth | stake case europ cycl threaten |
| polici | one cannot happen without achiev | polici | debat need move beyond fals |
| need | happen without achiev polici debat | need | move beyond fals dichotomi growth |
| growth | need move beyond fals dichotomi | growth | versus auster stabil versus opportun |
| need | opportun nation versus intern interest | need | agre comprehens strategi good stabil |
| growth | comprehens strategi good stabil good | growth | need coordin action support strategi |
| need | strategi good stabil good growth | need | coordin action support strategi need |
| need | need coordin action support strategi | need | let outlin main pillar strategi |
| polici | main pillar strategi first macroeconom | polici | help support recoveri also tackl |
| also | macroeconom polici help support recoveri | also | tackl under caus crisi second |
| global | broader element collect effort reinforc | global | financi safeti net context welcom |
| need | increas imf resourc billion third | need | determin progress structur reform exampl |
| market | progress structur reform exampl labor | market | product market reform carri torch |
| market | reform exampl labor market product | market | reform carri torch growth beyond |
| growth | product market reform carri torch | growth | beyond immedi support macroeconom polici |
| polici | growth beyond immedi support macroeconom | polici | mani respect financi sector heart |
| global | sector heart latter two issu | global | crisi may move beyond pure |
| growth | sector build better foundat stabil | growth | third issu let elabor knew |
| economi | sourc instabl work rather real | economi | larg part reflect system grow |
| countri | asset top five financi institut | countri | exceed percent gdp crisi strike |
| growth | financi system build system serv | growth | wild system bring borrow lender |
| need | rise day stand crossroad policymak | need | lay follow clear roadmap finish |
| growth | repair weak bank continu strangl | growth | european bank epicent current worri |
| need | contin bad world policymak europ | need | take action put monetari union |
| market | main answer singl european financi | market | cannot reli legal institut framework |
| need | look littl ahead monetari union | need | support build true financi union |
| need | go handinhand effort particular area | need | take step form fiscal riskshar |
| econom | fund would allow common support | econom | disloc one countri develop cost |
| countri | common support econom disloc one | countri | develop cost crisi entir euro |
| growth | institut deliv credit turn creat | growth | job b better financi system |
| need | life must strike balanc certain | need | regulatori guardrail stop financi system |
| need | system drive cliff time road | need | wide enough innov market drive |
| market | road need wide enough innov | market | drive economi forward although may |
| economi | wide enough innov market drive | economi | forward although may bad thing |
| growth | cost regulatori chang might imping | growth | time least afford question balanc |
| need | afford question balanc smart regul | need | punit estim suggest regulatori reform |
| growth | suggest regulatori reform could cut | growth | much percent offici estim impli |
| also | impli someth much smaller imf | also | look issu preliminari result point |
| growth | result point relat small impact | growth | especi compar pain linger damag |
| market | much risk remain take deriv | market | total amount outstand otc deriv |
| also | emphasi liquid less matur mismatch | also | move right direct also follow |
| also | mismatch also move right direct | also | follow interest plan socal live |
| need | migrat murki corner financi sector | need | monitor potenti regul larger perimet |
| also | larger perimet encompass shadow bank | also | need shine light deriv market |
| need | perimet encompass shadow bank also | need | shine light deriv market move |
| market | also need shine light deriv | market | move transact central clear hous |
| global | valu inform collect henc must | global | basi coordin way build bulletproof |
| market | hous help lower overal risk | market | stronger supervisionbett regul ever part |
| need | hefti respons job effect supervisor | need | proper legal author adequ resourc |
| need | legal author adequ resourc frank | need | capabl qualifi peopl go toetoto |
| need | go toetoto armi lobbyist supervisor | need | clear mandat oper independ free |
| need | free polit industri interfer ultim | need | autonomi prestig central banker privat |
| also | banker privat sector incentivesof cours | also | need right incent framework account |
| need | privat sector incentivesof cours also | need | right incent framework account privat |
| also | import social respons financi institut | also | import role play mean put |
| also | manag empow report direct top | also | mean prudent approach compens make |
| need | sport car believ tax system | need | help deter excess risktak financi |
| countri | last coupl year exampl introduct | countri | bank levi yet two year |
| need | make threeleg stool sturdi stabl | need | three leg place let say |
| need | sit stool break one leg | need | effect mechan resolut financi institut |
| countri | nation law allow regul differ | countri | act collect would make failur |
| countri | first step direct taken mani | countri | sign financi stabil board propos |
| need | given size complex interconnect system | need | consist coordin cooper span institut |
| market | consist coordin cooper span institut | market | border consist gap inform share |
| countri | health part core busi individu | countri | financi sector assess program crosscountri |
| global | sector assess program crosscountri level | global | financi stabil report also engag |
| also | level global financi stabil report | also | engag broader collabor effort g |
| polici | board help keep regulatori supervisori | polici | move toward ultim goal conclud |
| growth | move today risk reward sustain | growth | stabil true across polici spectrum |
| polici | sustain growth stabil true across | polici | spectrum financi sector special role |
| growth | longer sourc instabl sourc stabil | growth | meet object share world bad |
| need | meet object share world bad | need | thank |
| also | premier wang qishan earlier afternoon | also | held indepth discuss peopl bank |
| financ | bank china governor zhou xiaochuan | financ | minist xie xuren senior chines |
| polici | spillov discuss china word annual | polici | dialogu china discuss took place |
| global | took place time heighten risk | global | outlook notabl possibl worsen european |
| polici | european crisi natur therefor focus | polici | deal global uncertainti also agre |
| global | natur therefor focus polici deal | global | uncertainti also agre critic lose |
| also | focus polici deal global uncertainti | also | agre critic lose sight top |
| economi | top mediumterm prioriti transform china | economi | consum demandbas growth model transform |
| growth | transform china economi consum demandbas | growth | model transform would substanti boost |
| global | china contribut signific strong balanc | global | growth key find discuss reflect |
| growth | contribut signific strong balanc global | growth | key find discuss reflect withdraw |
| polici | key find discuss reflect withdraw | polici | stimulus last year slow global |
| global | polici stimulus last year slow | global | demand growth like moder around |
| growth | last year slow global demand | growth | like moder around percent year |
| growth | ongo effort promot higher qualiti | growth | time finetun macroeconom polici help |
| polici | qualiti growth time finetun macroeconom | polici | help ensur growth slow much |
| growth | finetun macroeconom polici help ensur | growth | slow much also pleas see |
| also | help ensur growth slow much | also | pleas see inflat major social |
| global | peak bar shock food suppli | global | commod expect remain percent intensifi |
| growth | larg stimulus succeed support domest | growth | shield china popul worst crisi |
| global | china popul worst crisi help | global | recoveri provid need lift world |
| need | crisi help global recoveri provid | need | lift world demand china space |
| growth | current effort distribut benefit china | growth | wide increas consumpt pbc interest |
| growth | achiev macroeconom object face slow | growth | increas downsid risk especi europ |
| also | increas downsid risk especi europ | also | welcom step toward liber interest |
| market | lower cost financi intermedi allow | market | forc greater role price loan |
| growth | decad china remark record rapid | growth | low inflat help lift sever |
| growth | push ahead reform time facilit | growth | model reli heavili capit accumul |
| also | author effort transform consumerbas one | also | aim address rise inequ promot |
| growth | address rise inequ promot inclus | growth | past sever year china made |
| need | sustain approach govern acknowledg reform | need | achiev qualiti growth reli less |
| growth | acknowledg reform need achiev qualiti | growth | reli less invest consumpt environment |
| also | system strengthen social secur system | also | lower social contribut rate appreci |
| also | cost various input product prioriti | also | featur th fiveyear plan time |
| growth | produc smooth control adjust consumerbas | growth | contribut rebalanc global economi without |
| global | adjust consumerbas growth contribut rebalanc | global | economi without reform domest imbal |
| economi | consumerbas growth contribut rebalanc global | economi | without reform domest imbal could |
| global | negat impact china commod price | global | economi broad spillov report highlight |
| economi | impact china commod price global | economi | broad spillov report highlight econom |
| econom | economi broad spillov report highlight | econom | tension five system economi import |
| economi | highlight econom tension five system | economi | import work collabor resolv discuss |
| global | confid author mind china role | global | economi would like take question |
| economi | author mind china role global | economi | would like take question |
| countri | celebr remark achiev latvia baltic | countri | past year fit meet fantast |
| need | approach baltic inde whole europ | need | embrac today overcom challeng succeed |
| also | life endur great suffer baltic | also | went incred tough time yet |
| growth | remain today pull return strong | growth | reduc unemploy even remain far |
| market | european union becom competit world | market | wage price cut restor confid |
| polici | brought interest rate good macroeconom | polici | today celebr achiev also make |
| also | macroeconom polici today celebr achiev | also | make sure build success look |
| polici | recip success rather right combin | polici | right degre support right level |
| also | determin number dimens case latvia | also | show strong intern commit go |
| countri | support intern communiti ralli help | countri | get back feet latvia partner |
| financ | latvia partner put togeth impress | financ | packag billion also singl strong |
| also | togeth impress financ packag billion | also | singl strong cooper among latvia |
| countri | partner european commiss imf nordic | countri | countri includ poland well ecb |
| countri | european commiss imf nordic countri | countri | includ poland well ecb let |
| also | poland well ecb let us | also | forget assist world bank ebrd |
| countri | ahead key challeng face baltic | countri | return growth latvia lithuania prepar |
| growth | challeng face baltic countri return | growth | latvia lithuania prepar join euro |
| need | three prioriti first latvia still | need | deliv program exit strategi euro |
| countri | whether join euro three baltic | countri | need continu implement reform necessari |
| need | join euro three baltic countri | need | continu implement reform necessari make |
| growth | competit put perman path higher | growth | inclus growth kind reform mean |
| growth | perman path higher growth inclus | growth | kind reform mean product market |
| market | growth kind reform mean product | market | reform central higher product growth |
| growth | market reform central higher product | growth | labor market also need work |
| market | central higher product growth labor | market | also need work make sure |
| also | higher product growth labor market | also | need work make sure everybodi |
| need | product growth labor market also | need | work make sure everybodi want |
| economi | everybodi want job find one | economi | readili adapt realiti futur within |
| growth | realiti futur within environ inclus | growth | surviv fix exchang rate common |
| polici | exchang rate common currenc fiscal | polici | also need remain disciplin latvia |
| also | rate common currenc fiscal polici | also | need remain disciplin latvia propos |
| need | common currenc fiscal polici also | need | remain disciplin latvia propos fiscal |
| countri | right direct third three baltic | countri | could support social cohes incom |
| need | seven time bottom percent urgent | need | creat job young peopl longterm |
| also | greater push reduc inequ would | also | help lot imf research show |
| growth | incom good macroeconom stabil sustain | growth | winwin mean smarter invest educ |
| growth | invit imf give perspect reviv | growth | european union deni europ today |
| econom | effort restor confid european union | econom | futur topic today confer find |
| growth | today confer find new sourc | growth | ultim determin whether success endeavor |
| econom | today schuman dream simpl want | econom | union share strateg resourc europ |
| econom | materi imposs heart vision idea | econom | growth share prosper would final |
| growth | imposs heart vision idea econom | growth | share prosper would final bring |
| econom | success eu expand member state | econom | union grown ever deeper includ |
| market | grown ever deeper includ common | market | countri share currenc yet today |
| countri | ever deeper includ common market | countri | share currenc yet today crisi |
| need | threaten undo histor achiev stand | need | done next minut look think |
| growth | look think could done support | growth | short term turn reform need |
| need | growth short term turn reform | need | boost longterm growth complet process |
| growth | turn reform need boost longterm | growth | complet process european integr big |
| global | start big pictur threat sharp | global | slowdown fact eas sinc last |
| econom | sinc last year thank improv | econom | data come unit state better |
| polici | data come unit state better | polici | euro area recoveri remain fragil |
| countri | fragil challeng daunt concern everi | countri | world europ imf encourag member |
| polici | imf encourag member state enact | polici | measur collect help pull world |
| economi | measur collect help pull world | economi | current weak state deni europ |
| need | europ stand nowfrom imf perspect | need | done first let forget much |
| countri | done address crisi hardest hit | countri | greec portug ireland undertaken unpreced |
| countri | eas adjust effort ground individu | countri | support action european level eu |
| countri | sovereign stress remain elev mani | countri | market worri abil commit european |
| market | stress remain elev mani countri | market | worri abil commit european govern |
| growth | fiscal deficit contain crisi reviv | growth | possibl contagion socal tail risk |
| econom | loop sovereign bank still place | econom | cost let forget crisi realli |
| growth | creat lost generat last consequ | growth | greec instanc overal unemploy rate |
| economi | public support reform meant put | economi | back track biggest problem lack |
| growth | back track biggest problem lack | growth | success find new sourc growth |
| growth | growth success find new sourc | growth | hard see tax revenu recov |
| growth | result find new sourc growthreviv | growth | easi task growth product trend |
| growth | sourc growthreviv growth easi task | growth | product trend europ fallen behind |
| growth | past decad reflect slower product | growth | within euro area diverg econom |
| econom | growth within euro area diverg | econom | perform portug economi instanc contract |
| economi | area diverg econom perform portug | economi | instanc contract percent first quarter |
| growth | wherea germani grew percent differ | growth | trend exacerb grow gap term |
| growth | today unfortun magic bullet spur | growth | job creation crisishit countri europ |
| countri | spur growth job creation crisishit | countri | europ abl revit economi sell |
| economi | crisishit countri europ abl revit | economi | sell good abroad creat new |
| economi | question ask answer look crisishit | economi | euro area forget wider context |
| countri | area forget wider context mani | countri | europ go right correct larg |
| global | increas wage took place period | global | econom crisi greec instanc wage |
| econom | wage took place period global | econom | crisi greec instanc wage increas |
| growth | instanc wage increas faster product | growth | year unit labor cost manufactur |
| polici | momentum context want emphas two | polici | front imf think particular import |
| polici | imf think particular import macroeconom | polici | support demand near term progress |
| growth | progress structur reform rais longterm | growth | complet process european integr support |
| growth | cut spend rais revenu stifl | growth | number countri need engag fiscal |
| countri | rais revenu stifl growth number | countri | need engag fiscal consolid simultan |
| need | revenu stifl growth number countri | need | engag fiscal consolid simultan negat |
| growth | fiscal consolid simultan negat impact | growth | reinforc get pace fiscal consolid |
| growth | especi given current context weak | growth | employ europ doubt fiscal consolid |
| countri | broad appropri europ euro area | countri | howev nomin fiscal target agre |
| growth | fiscal target agre current slowdown | growth | may prove procycl may need |
| need | growth may prove procycl may | need | adjust least express structur term |
| growth | least express structur term stabil | growth | pact excess deficit procedur allow |
| econom | fast bring deficit percent gdp | econom | condit worsen flexibl use revis |
| also | deadlin meet target consider could | also | given specifi target cyclicallyadjust rather |
| polici | automat stabil allow work monetari | polici | also play crucial role term |
| also | stabil allow work monetari polici | also | play crucial role term support |
| growth | play crucial role term support | growth | short term price pressur expect |
| market | restor health financi sectorwellfunct credit | market | anoth import element term relaunch |
| growth | anoth import element term relaunch | growth | near medium term structur reform |
| growth | term structur reform pay sector | growth | potenti must access financ particular |
| financ | sector growth potenti must access | financ | particular import small mediums compani |
| also | healthi well regul financi system | also | critic restor investor confid prevent |
| global | unfinish much progress made sinc | global | econom crisi first hit term |
| econom | much progress made sinc global | econom | crisi first hit term improv |
| countri | nation eu level one exampl | countri | suffer great lack oversight proper |
| countri | restart lend spain anoth exampl | countri | suffer overlend real estat sector |
| need | sector boom year carri much | need | restructur financi system set measur |
| need | stabil bank system decis followthrough | need | help boost confid support growth |
| growth | need help boost confid support | growth | reform boost longterm growthlet detail |
| polici | boost longterm growthlet detail second | polici | front impact medium long term |
| countri | term see two challeng first | countri | need implement comprehens structur reform |
| need | see two challeng first countri | need | implement comprehens structur reform rais |
| growth | implement comprehens structur reform rais | growth | potenti facilit rebalanc economi second |
| economi | rais growth potenti facilit rebalanc | economi | second region level eu leader |
| countri | run simul imf euro area | countri | suggest elimin percent euro area |
| countri | suggest elimin percent euro area | countri | gap oecd best practic labor |
| market | oecd best practic labor product | market | polici could boost gdp growth |
| polici | best practic labor product market | polici | could boost gdp growth  |
| growth | market polici could boost gdp | growth | Â ½ percent five year |
| also | ½ percent five year studi | also | show signific gain made structur |
| growth | reform implement simultan quarter addit | growth | expect posit crosscountri crossreform spillov |
| growth | percent sweden annual labor product | growth | increas percent percent politician tendenc |
| countri | key design reform close tailor | countri | uniqu challeng problem relat competit |
| countri | competit vari even among crisishit | countri | southern europ lack competit acut |
| growth | spain instanc enjoy strong export | growth | year preced global econom crisi |
| global | strong export growth year preced | global | econom crisi itali remain pretti |
| econom | export growth year preced global | econom | crisi itali remain pretti competit |
| also | remain pretti competit even though | also | need reform common countri need |
| need | pretti competit even though also | need | reform common countri need improv |
| countri | though also need reform common | countri | need improv competit invest human |
| need | also need reform common countri | need | improv competit invest human physic |
| polici | packag bare chang year sever | polici | help countri regain competit fiscal |
| countri | chang year sever polici help | countri | regain competit fiscal devalu nomin |
| countri | outpac output somewhat northern european | countri | current account surplus contrast southern |
| countri | account surplus contrast southern european | countri | current account deficit must aim |
| economi | eu govern take step integr | economi | though europ singl market product |
| market | integr economi though europ singl | market | product singl market financi servic |
| market | europ singl market product singl | market | financi servic lag stark contrast |
| growth | complet financi integr would complement | growth | agenda weaken advers bank sovereign |
| countri | yield would like improv abil | countri | access market financ debt deepen |
| market | like improv abil countri access | market | financ debt deepen singl financi |
| financ | improv abil countri access market | financ | debt deepen singl financi market |
| market | financ debt deepen singl financi | market | develop paneuropean financi stabil framework |
| need | outlin number reform imf think | need | nation level eu level strengthen |
| growth | nation level eu level strengthen | growth | short medium term let make |
| countri | make one final point mani | countri | reform fatigu set adjust kind |
| economi | import protect social cohes crisishit | economi | hard achiev time tight fiscal |
| growth | complet reform agenda restor europ | growth | enabl futur |
| also | problem excit challeng make better | also | day joy long arduous climb |
| global | littl interconnect danc across fabric | global | societi transform million fragment imag |
| global | soul us earth peopl meet | global | marketplac good idea point histori |
| countri | across border million tourist travel | countri | mere million world million migrant |
| countri | make fifth quarter profession workforc | countri | like australia canada switzerland look |
| global | motor sold car china home | global | compani like nokia nestl philip |
| countri | earn percent total sale home | countri | indian inform technolog compani regular |
| global | embodi interconnect world reach fluiditi | global | communic communic revolut open gateway |
| global | today communic cheap instantan multifacet | global | generat constant plug famili friend |
| global | world internet generat internet bring | global | famili kitchen tabl truli screen |
| global | harvard cannot fail mention facebook | global | phenomenon connect million peopl across |
| global | world share live love singl | global | platform way facebook twitter border |
| global | serious disconnect interconnect sever fragment | global | govern take coupl comparison origin |
| global | come year challeng import good | global | citizensthi new world opportun also |
| also | global citizensthi new world opportun | also | world grave challeng uncertainti generat |
| econom | challeng uncertainti generat face worst | econom | insecur decad possibl ever sinc |
| global | compact hold societi togeth fear | global | econom engin longer deliv past |
| econom | hold societi togeth fear global | econom | engin longer deliv past realli |
| need | seiz opportun creat new world | need | connect dot reconcil highintens connect |
| global | mean world becom singl villag | global | famili core respons good global |
| global | global famili core respons good | global | citizen watch sensit action affect |
| need | affect one anoth matter live | need | shed habit past trap us |
| econom | mean seek better live standard | econom | system fruit growth share fair |
| growth | live standard econom system fruit | growth | share fair amongst peopl countri |
| countri | growth share fair amongst peopl | countri | mean work put extrem poverti |
| global | extrem poverti behind us fellow | global | citizen world poorest countri take |
| countri | fellow global citizen world poorest | countri | take right seat tabl prosper |
| countri | condemn futur generat especi poorer | countri | life hardship desper mean strive |
| countri | ultim mean work peac world | countri | live none easi imposs unless |
| global | togeth think act like true | global | citizen believ educ first step |
| countri | graduat today nonu nation hail | countri | know other import educ break |
| also | fellow human be salut mani | also | enter privat sector also nobl |
| also | mani also enter privat sector | also | nobl choic busi entrepreneuri sector |
| also | creat job valu privat enterpris | also | need imbu keen sens public |
| need | job valu privat enterpris also | need | imbu keen sens public duti |
| also | make profit reward sharehold must | also | infus broader sens civic duti |
| econom | choos reckless risktak spark greatest | econom | collaps sinc great depress basic |
| global | interconnect world local bad decis | global | catastroph consequ think lehman brother |
| need | take new mean today cultur | need | greater emphasi valu like consensusbuild |
| financ | believ women upper echelon busi | financ | go long way toward chang |
| financ | presid sarkozi great leadership serv | financ | minist littl four year may |
| countri | imf member base simpl idea | countri | pull togeth common interest aid |
| need | togeth common interest aid time | need | everyon prosper togeth look back |
| global | first leader understand transform qualiti | global | citizenship creat peac corp serv |
| countri | understand profound signific rise develop | countri | world order call special moment |
| global | matur generat generat first truli | global | generat global challeng global opportun |
| global | generat first truli global generat | global | challeng global opportun make world |
| global | truli global generat global challeng | global | opportun make world better place |
| global | chang world shape futur common | global | futur keep world say give |
| also | mission engag us morn would | also | like thank deputi minist vittorio |
| economi | help us make assess italian | economi | let make first point think |
| polici | danger situat end last year | polici | put place govern creat degre |
| polici | background saw end last year | polici | ambiti wide rang help fiscal |
| also | rang help fiscal stabil progress | also | made structur reform progress last |
| need | six month realli model one | need | look consid progress across europ |
| polici | itali come long way stabil | polici | put place also essenti creat |
| also | way stabil polici put place | also | essenti creat condit reviv growth |
| growth | also essenti creat condit reviv | growth | cours job yet done good |
| need | job yet done good progress | need | done reviv growth focus mission |
| growth | good progress need done reviv | growth | focus mission build progress done |
| growth | build progress done enhanc reviv | growth | energi effort last six month |
| need | energi effort last six month | need | focus reviv growth inde theme |
| growth | six month need focus reviv | growth | inde theme discuss reflect conclud |
| growth | month stabil essenti form basi | growth | area continu progress inde essenti |
| growth | continu progress inde essenti ensur | growth | inde pick three area focus |
| growth | consult first structur reform jumpstart | growth | second make fiscal consolid growthfriend |
| growth | ensur italian bank sector support | growth | economi let briefli go area |
| economi | italian bank sector support growth | economi | let briefli go area structur |
| economi | place train order help italian | economi | grow strong mani known fact |
| countri | particip rate itali low compar | countri | europ foreign direct invest itali |
| countri | foreign direct invest itali lower | countri | compar situat effici legal system |
| countri | labor capit itali higher compar | countri | energi price higher averag europ |
| growth | progress achiev address issu improv | growth | prospect italian economi let quot |
| economi | issu improv growth prospect italian | economi | let quot figur team done |
| countri | indic structur reform median oecd | countri | level output itali could six |
| also | implement quicker process start view | also | done along line let mention |
| market | second area structur reform product | market | reform area know prime minist |
| also | recommend move ahead quick approv | also | area done help job creation |
| market | enabl better oper italian labor | market | lot also said privat scope |
| also | oper italian labor market lot | also | said privat scope itali particular |
| economi | smes backbon italian societi italian | economi | streamlin regul taxat help reduc |
| growth | second area fiscal consolid support | growth | area enorm progress made last |
| also | import necessari given level indebted | also | impress achiev fiscal stanc year |
| polici | within stanc within current fiscal | polici | think room make implement fiscal |
| polici | think room make implement fiscal | polici | growth friend import review expenditur |
| growth | room make implement fiscal polici | growth | friend import review expenditur current |
| also | relat bank system particular europ | also | pressur point nonperform loan npls |
| also | right direct import maintain momentum | also | sens consensus commit reform particular |
| growth | differ direct forward ensur itali | growth | revis strong thank |
| also | europ unleash intellectu cultur reviv | also | famous econom reform harmon unifi |
| econom | intellectu cultur reviv also famous | econom | reform harmon unifi complex array |
| countri | agre divid empir three differ | countri | differ languag differ destini tragedi |
| also | even winston churchil georg marshal | also | play import earli role great |
| econom | european coal steel communiti european | econom | communiti common market earli studi |
| market | communiti european econom communiti common | market | earli studi becom tax lawyer |
| polici | remov custom duti common agricultur | polici | first intern agreement group year |
| countri | berlin wall cast dark shadow | countri | contin mani long year height |
| countri | clear pivot point life life | countri | work tireless make unif work |
| countri | bridg east west build new | countri | base determin solidar singl destini |
| countri | integr forg europ grew wider | countri | join deeper singl market knock |
| market | wider countri join deeper singl | market | knock econom barrier maastricht treati |
| econom | join deeper singl market knock | econom | barrier maastricht treati pave way |
| economi | interior minist euro born europ | economi | boom grave danger lurk around |
| global | financi crisi come lead greatest | global | slowdown sinc great depress second |
| financ | debt crisi began simmer becam | financ | minist perform brilliant financi time |
| financ | brilliant financi time name top | financ | minist deserv much credit mani |
| econom | ahead better deeper integr fortifi | econom | foundat union make sure never |
| need | caus integr improv rule institut | need | monetari union said couldn back |
| also | catch wolfgang schà ¤ ubl | also | understand import intern integr within |
| countri | understand import intern integr within | countri | germani said integr countri integr |
| countri | within countri germani said integr | countri | integr mean feel like belong |
| also | favorit team cannot end well | also | love play sudoku play parliament |
| need | horribl attempt life question ask | need | make sens answer simpl go |
| also | tall today stand shoulder giant | also | giant right true successor founder |
| econom | histori region last spoke arab | econom | forum beirut fifteen year ago |
| polici | continu import forum high offici | polici | maker across region beyond converg |
| econom | converg beirut exchang view major | econom | issu challeng face region would |
| global | repres imf imf live talk | global | econom outlook see risk second |
| econom | imf imf live talk global | econom | outlook see risk second talk |
| need | risk second talk region argu | need | econom spring complement becom known |
| econom | second talk region argu need | econom | spring complement becom known arab |
| countri | histor transit wit across region | countri | fail econom spring risk fail |
| econom | wit across region countri fail | econom | spring risk fail deliv hope |
| global | million young peopl across region | global | economyth world today somewhat better |
| global | eas financi strain threat sharp | global | slowdown reduc emerg develop economi |
| economi | global slowdown reduc emerg develop | economi | continu perform sourc strength global |
| global | economi continu perform sourc strength | global | recoveri way although fragil expect |
| global | recoveri way although fragil expect | global | econom growth percent risk still |
| econom | way although fragil expect global | econom | growth percent risk still high |
| growth | although fragil expect global econom | growth | percent risk still high countri |
| countri | growth percent risk still high | countri | includ unresolv fiscal problem troubl |
| countri | price due geopolit suppli uncertainti | countri | around world tri reduc risk |
| global | tri reduc risk imf support | global | recoveri import part strengthen imf |
| econom | wherev may aris mena region | econom | spring turn mena region year |
| countri | year major polit transit mani | countri | region tunisia egypt yemen libya |
| countri | libya polit reform ongo mani | countri | region eye focus polit econom |
| econom | countri region eye focus polit | econom | situat region deterior sharpli except |
| countri | deterior sharpli except oil export | countri | gulf higher oil price grew |
| econom | grew robust percent oil import | econom | indic move wrong direct growth |
| growth | econom indic move wrong direct | growth | halv invest tourism declin fiscal |
| countri | worsen pattern seen across arab | countri | transit without econom transit accompani |
| econom | across arab countri transit without | econom | transit accompani polit transit risk |
| need | polit transit risk failur front | need | year econom spring countri region |
| econom | risk failur front need year | econom | spring countri region defin new |
| countri | front need year econom spring | countri | region defin new econom strategi |
| econom | spring countri region defin new | econom | strategi respond demand job fair |
| growth | fair preserv macroeconom stabil essenti | growth | key element econom spring obvious |
| econom | stabil essenti growth key element | econom | spring obvious countri differ defin |
| countri | key element econom spring obvious | countri | differ defin strategi let outlin |
| need | outlin key element oil import | need | respond legitim econom social pressur |
| econom | oil import need respond legitim | econom | social pressur free resourc invest |
| countri | job maintain macroeconom stabil challeng | countri | scope increas revenu way would |
| countri | way would hurt disadvantag mani | countri | consider scope free resourc better |
| need | educ infrastructur creat million job | need | next decad generat brought us |
| financ | mobil extern support import help | financ | fiscal deficit stabil reserv restor |
| econom | necessari restor investor confid boost | econom | growth inclus approach growth includ |
| growth | restor investor confid boost econom | growth | inclus approach growth includ stronger |
| growth | boost econom growth inclus approach | growth | includ stronger target safeti net |
| countri | essenti look beyond short term | countri | need set mediumterm econom strategi |
| need | look beyond short term countri | need | set mediumterm econom strategi credibl |
| econom | term countri need set mediumterm | econom | strategi credibl popul investor exampl |
| need | exampl lebanon mediumterm strategi would | need | focus continu reduc public debt |
| market | infrastructur improv busi climat labor | market | strategi help achiev higher inclus |
| growth | strategi help achiev higher inclus | growth | would reduc unemploy especi among |
| countri | wide rang reform primarili respons | countri | requir difficult choic trade off |
| economi | went histor transit earli world | economi | boom europ keen embrac transit |
| economi | boom europ keen embrac transit | economi | provid polici anchor extern financ |
| polici | keen embrac transit economi provid | polici | anchor extern financ readili avail |
| financ | economi provid polici anchor extern | financ | readili avail case today need |
| need | financ readili avail case today | need | differ approach transit first region |
| countri | oil price share respons interest | countri | oil export contribut stabil prosper |
| also | stabil prosper region intern communiti | also | help transit countri affect instabl |
| countri | intern communiti also help transit | countri | affect instabl financ cushion inevit |
| financ | help transit countri affect instabl | financ | cushion inevit cost chang provid |
| market | phase order introduct reform enhanc | market | access key creat export opportun |
| polici | agenda help three main front | polici | advic capac build financ polici |
| financ | front polici advic capac build | financ | polici advic adapt analyt work |
| polici | polici advic capac build financ | polici | advic adapt analyt work face |
| growth | ground imf integr concept inclus | growth | systemat polici advic capac build |
| polici | integr concept inclus growth systemat | polici | advic capac build focus five |
| growth | area critic achiev social inclus | growth | past job creation bettertarget social |
| financ | strong govern busi environ access | financ | greater trade access integr regard |
| polici | assist region design implement new | polici | area tax collect improv statist |
| polici | fund regard statist essenti good | polici | make inform public debat happi |
| countri | agenc would cover arab leagu | countri | financ imf creat new lend |
| financ | would cover arab leagu countri | financ | imf creat new lend facil |
| financ | lend facil tool part respons | financ | need mena region mobil offici |
| need | facil tool part respons financ | need | mena region mobil offici financ |
| financ | need mena region mobil offici | financ | fill shortterm fiscal extern gap |
| countri | shortterm fiscal extern gap number | countri | imf stand readi provid financ |
| financ | countri imf stand readi provid | financ | oilimport countri region imf recent |
| countri | stand readi provid financ oilimport | countri | region imf recent approv financ |
| financ | countri region imf recent approv | financ | concession rapid credit facil yemen |
| econom | formul mediumterm strategi address longstand | econom | challeng imf also discuss sever |
| also | address longstand econom challeng imf | also | discuss sever countri financ need |
| countri | challeng imf also discuss sever | countri | financ need critic year ahead |
| financ | imf also discuss sever countri | financ | need critic year ahead conclusionlet |
| need | also discuss sever countri financ | need | critic year ahead conclusionlet conclud |
| need | challeng lie ahead formid policymak | need | act swift put place econom |
| econom | need act swift put place | econom | transit tough circumst region intern |
| econom | new begin let make sure | econom | spring happen year ahead peopl |
| global | magnific univers intellectu powerhous strong | global | reach produc eleven nobel laureat |
| econom | einstein even want address central | econom | challeng face world today get |
| growth | get back solid sustain balanc | growth | lift boat provid better futur |
| growth | lift boat provid better futur | growth | cours realli end mean end |
| need | engend human potenti develop progress | need | growth spread gain far wide |
| growth | human potenti develop progress need | growth | spread gain far wide world |
| global | well appreci switzerland deepli interconnect | global | economi trade account percent countri |
| economi | appreci switzerland deepli interconnect global | economi | trade account percent countri gdp |
| countri | global economi trade account percent | countri | gdp know swiss franc play |
| global | swiss franc play promin role | global | financi system clear today global |
| global | global financi system clear today | global | economi need higher better growth |
| economi | financi system clear today global | economi | need higher better growth get |
| need | system clear today global economi | need | higher better growth get depend |
| growth | global economi need higher better | growth | get depend choos right combin |
| polici | get depend choos right combin | polici | wrong choic risk lose decad |
| growth | wrong choic risk lose decad | growth | generat young peopl opportun put |
| global | generat young peopl opportun put | global | economi secur foot dare fail |
| economi | young peopl opportun put global | economi | secur foot dare fail context |
| global | us take quick look stand | global | economi deliv growth world need |
| economi | take quick look stand global | economi | deliv growth world need imf |
| growth | look stand global economi deliv | growth | world need imf estim global |
| need | global economi deliv growth world | need | imf estim global growth  |
| global | growth world need imf estim | global | growth  ½ percent year |
| growth | world need imf estim global | growth | Â ½ percent year much |
| economi | percent year much weaker advanc | economi | mere  ½ percent includ |
| economi | recess euro area among advanc | economi | output gap differ economi produc |
| economi | advanc economi output gap differ | economi | produc produc remain close percent |
| market | close percent year averag emerg | market | develop countri hold much better |
| countri | year averag emerg market develop | countri | hold much better expect growth |
| growth | countri hold much better expect | growth | Â ¾ percent turn financi |
| market | percent turn financi side financi | market | euro area seen relief thank |
| polici | relief thank part recent european | polici | condit remain volatil growth urgent |
| growth | european polici condit remain volatil | growth | urgent look job situat right |
| countri | peopl tri find place societi | countri | southern europ one everi five |
| econom | cannot find work potenti disast | econom | social human term advanc economi |
| economi | econom social human term advanc | economi | especi europ issu well understood |
| growth | gravit toward one two camp | growth | versus auster growth camp say |
| growth | two camp growth versus auster | growth | camp say need govern stimulus |
| need | versus auster growth camp say | need | govern stimulus increas growth auster |
| growth | say need govern stimulus increas | growth | auster camp say market sit |
| market | increas growth auster camp say | market | sit judgment mountain public debt |
| need | judgment mountain public debt govern | need | necessari reduc debt fast possibl |
| growth | slight caricatur know auster versus | growth | much debat hour believ fals |
| growth | good tomorrow good stabil good | growth | stabil conduc growth growth facilit |
| growth | stabil good growth stabil conduc | growth | growth facilit stabil shortrun growthlet |
| growth | good growth stabil conduc growth | growth | facilit stabil shortrun growthlet turn |
| growth | growthlet turn first issu shortrun | growth | short run demand matter growth |
| growth | growth short run demand matter | growth | job one engin drive demand |
| polici | run fast talk loos monetari | polici | low nomin interest rate alreadi |
| need | close full speed might scope | need | go faster case peopl tend |
| polici | action normal time kind monetari | polici | would lead high demand growth |
| growth | polici would lead high demand | growth | normal time monetari engin cannot |
| growth | engin cannot job alon fact | growth | held back three brake system |
| market | adjust weak bank poor hous | market | need manag brake growth engin |
| need | weak bank poor hous market | need | manag brake growth engin run |
| growth | hous market need manag brake | growth | engin run smooth much like |
| countri | fiscal brakefirst fiscal adjust essenti | countri | legaci huge public debt part |
| economi | wealth time good among advanc | economi | ratio debt gdp expect hit |
| countri | plan lower debt without plan | countri | forc make even bigger adjust |
| growth | know fiscal auster hold back | growth | effect wors downturn right pace |
| countri | right pace essenti right pace | countri | specif right mix cut spend |
| also | mix cut spend rais revenu | also | critic countri sever market pressur |
| countri | spend rais revenu also critic | countri | sever market pressur choic move |
| market | revenu also critic countri sever | market | pressur choic move faster whole |
| countri | howev adjust gradual steadi estim | countri | move prudent pace year percent |
| countri | averag next year loom horizon | countri | need keep steadi hand wheel |
| need | next year loom horizon countri | need | keep steadi hand wheel growth |
| growth | need keep steadi hand wheel | growth | wors expect stick announc fiscal |
| economi | revenu rise spend caus sole | economi | weaken avoid brake fiscal adjust |
| growth | correct make sure much harm | growth | bank braketh second brake growth |
| growth | growth bank braketh second brake | growth | come bank system bank certain |
| need | ago still much leverag book | need | shed excess weight becom fit |
| polici | see lower borrow cost monetari | polici | abl job even effect hous |
| growth | effect hous braketh third brake | growth | come hous market anoth legaci |
| market | third brake growth come hous | market | anoth legaci crisi much hous |
| also | recoveri primarili problem unit state | also | peripher european countri ireland spain |
| countri | unit state also peripher european | countri | ireland spain good news resolv |
| need | littl new invest said still | need | bolder program reduc debt burden |
| countri | reduc debt burden default foreclosur | countri | like iceland done lot countri |
| countri | countri like iceland done lot | countri | like unit state still need |
| need | countri like unit state still | need | let tri tie togeth bank |
| growth | brake appli way littl harm | growth | possibl said earlier monetari polici |
| polici | growth possibl said earlier monetari | polici | stay support long need becom |
| need | monetari polici stay support long | need | becom effect time bank channel |
| countri | time bank channel becom fluid | countri | choos right polici calibr correct |
| polici | becom fluid countri choos right | polici | calibr correct economi grow faster |
| economi | choos right polici calibr correct | economi | grow faster eliot said wait |
| growth | end game bring mediumterm dimens | growth | challeng mediumrun growthencourag demand first |
| econom | growthencourag demand first step get | econom | engin run faster stop stall |
| need | engin run faster stop stall | need | make sure spark demand fuel |
| growth | sure spark demand fuel sustain | growth | demand matter today suppli matter |
| market | matter tomorrow requir product labor | market | work everybodi product market reform |
| market | labor market work everybodi product | market | reform avenu higher product growth |
| growth | market reform avenu higher product | growth | futur particular case nontrad sector |
| market | liber thing chang better labor | market | primari concern must youth unemploy |
| polici | youth unemploy believ welldesign labor | polici | help young peopl take crucial |
| polici | crucial first step ladder think | polici | like jobssearch assist wage subsidi |
| market | peopl especi disadvantag dual labor | market | give strong protect insid weak |
| need | peopl look work similar solut | need | identifi make mistak improv labor |
| market | identifi make mistak improv labor | market | often mean take tough decis |
| need | tough decis realli matter balanc | need | address shortfal pitfal market respect |
| market | balanc need address shortfal pitfal | market | respect legitim right worker keep |
| market | busi repres issu product labor | market | reform press countri lost competit |
| countri | product labor market reform press | countri | lost competit relat econom partner |
| econom | press countri lost competit relat | econom | partner southern europ loss competit |
| growth | southern europ loss competit depress | growth | today block path sustain growth |
| growth | growth today block path sustain | growth | tomorrow eurozon countri exchang rate |
| countri | path sustain growth tomorrow eurozon | countri | exchang rate valv releas pressur |
| countri | take time unlock product time | countri | instanc wage adjust sometim common |
| countri | pay preliminari analysi imf euroarea | countri | suggest five year largescal product |
| market | suggest five year largescal product | market | labor pension reform could boost |
| growth | point want make strong sustain | growth | countri benefit countri must support |
| countri | want make strong sustain growth | countri | benefit countri must support common |
| countri | strong sustain growth countri benefit | countri | must support common effort let |
| global | cooper three main area rebalanc | global | economi financi sector reform global |
| economi | three main area rebalanc global | economi | financi sector reform global financi |
| global | global economi financi sector reform | global | financi safeti net rebalanc better |
| growth | financi safeti net rebalanc better | growth | mean balanc growth mani advanc |
| growth | rebalanc better growth mean balanc | growth | mani advanc countri save go |
| countri | mean balanc growth mani advanc | countri | save go fragil heal process |
| countri | save go fragil heal process | countri | must step breach think especi |
| market | step breach think especi emerg | market | extern surplus like china start |
| need | domest demand good good world | need | continu walk path way global |
| global | need continu walk path way | global | deficit shrink global surplus shrink |
| global | path way global deficit shrink | global | surplus shrink word advanc economi |
| economi | global surplus shrink word advanc | economi | must export grow countri need |
| countri | advanc economi must export grow | countri | need enough demand buy good |
| need | economi must export grow countri | need | enough demand buy good servic |
| countri | let us forget plight lowincom | countri | countri especi vulner home million |
| countri | us forget plight lowincom countri | countri | especi vulner home million poor |
| econom | short step away financi ruin | econom | disast implement sound polici countri |
| polici | ruin econom disast implement sound | polici | countri relat well crisi run |
| countri | econom disast implement sound polici | countri | relat well crisi run short |
| need | run short option cope disloc | need | help help urgent second issu |
| global | continu faulti financi system toppl | global | economi need financi sector put |
| economi | faulti financi system toppl global | economi | need financi sector put societ |
| need | financi system toppl global economi | need | financi sector put societ interest |
| market | interest ahead financi gain product | market | face power vest interest pleas |
| also | solid ongo work shadow bank | also | help address risk lie outsid |
| countri | taxat must implement consist across | countri | avoid risk arbitrag want pay |
| global | exampl impos capit requir larg | global | bank well basel iii standard |
| global | well third area increas cooper | global | financi safeti net help protect |
| countri | financi safeti net help protect | countri | sharp econom downturn risk financi |
| econom | net help protect countri sharp | econom | downturn risk financi contagion recent |
| countri | financi contagion recent effort european | countri | build firewal commend also recent |
| also | european countri build firewal commend | also | recent decis imf membership boost |
| global | step right direct true symbol | global | solidar face common threat common |
| countri | one point far talk solidar | countri | solidar within countri also import |
| countri | talk solidar countri solidar within | countri | also import difficult decis tough |
| also | solidar countri solidar within countri | also | import difficult decis tough time |
| growth | make easier share fair gain | growth | good time pain adjust bad |
| growth | even strong sustain balanc inclus | growth | within grasp us choos right |
| polici | grasp us choos right combin | polici | walk resolut path togeth time |
| countri | togeth time shortterm insular switzerland | countri | show stabil goe handinhand growth |
| growth | countri show stabil goe handinhand | growth | fiscal decentr goe handinhand monetari |
| countri | success goe handinhand strong oversight | countri | show cooper neighbor benefit import |
| growth | leav one thought today would | growth | stabil mutual exclus either design |
| countri | stand member help member bring | countri | togeth seek stabil growth sure |
| growth | bring countri togeth seek stabil | growth | sure foundat better futur let |
| also | bank intern monetari fund year | also | fortun partner bangko sentral ng |
| econom | adb meet past day posit | econom | news continu come asia emerg |
| market | news continu come asia emerg | market | part world inde spring meet |
| countri | ago washington mani imf member | countri | confirm growth prospect appear consider |
| growth | mani imf member countri confirm | growth | prospect appear consider brighter month |
| global | consider brighter month back nonetheless | global | recoveri expect tepid bumpi risk |
| market | europ geopolit uncertainti affect oil | market | asia follow mark slowdown last |
| growth | domest demand reflect region better | growth | prospect capit inflow also rebound |
| also | better growth prospect capit inflow | also | rebound help fuel credit growth |
| growth | also rebound help fuel credit | growth | today high interconnect world asia |
| global | unpredict shift risk sentiment context | global | fragil region immun today discuss |
| countri | net form monetari support avail | countri | cannot meet extern oblig assist |
| countri | oblig assist run gamut selfinsur | countri | accumul rainyday fund intern reserv |
| financ | intern financi safeti net network | financ | arrang remain work progress chang |
| global | evid asian financi crisi recent | global | financi crisi howev challeng find |
| need | howev challeng find solut provid | need | support countri without ignit moral |
| countri | find solut provid need support | countri | without ignit moral hazard tendenc |
| polici | without ignit moral hazard tendenc | polici | less cautious presenc reliabl safeti |
| econom | financi arrang distinct advantag close | econom | tie connect borrow lender imf |
| countri | design lend facil specif target | countri | track record strong polici sound |
| polici | target countri track record strong | polici | sound polici limit ex post |
| polici | track record strong polici sound | polici | limit ex post condit latter |
| also | mai initi multilaterilat us billion | also | broaden use cover crisi prevent |
| also | safeti net asean coordin imf | also | strengthen global safeti net anoth |
| global | asean coordin imf also strengthen | global | safeti net anoth welcom exampl |
| global | welcom exampl preemptiv action case | global | level agreement g broader membership |
| global | coordin cofinanc among various tier | global | safeti net benefit approach bring |
| global | help secur financi stabil across | global | economi look forward afternoon live |
| economi | secur financi stabil across global | economi | look forward afternoon live exchang |
| also | exchang view among panelist would | also | encourag audienc activ particip question |
| also | adb annual meet board governor | also | grate adb give us chanc |
| polici | perspect civil societi offer fund | polici | also valuabl meet repres asia |
| also | civil societi offer fund polici | also | valuabl meet repres asia japan |
| global | hope abl join us octob | global | economydomin adb annual meet continu |
| global | annual meet continu concern prospect | global | economi attent intern communiti focus |
| economi | meet continu concern prospect global | economi | attent intern communiti focus europ |
| countri | signific challeng serious impact everi | countri | region allow spend minut talk |
| global | c colleagu imf present spring | global | econom outlook point situat europ |
| econom | colleagu imf present spring global | econom | outlook point situat europ calm |
| global | pose mani challeng europ world | global | growth project drop percent percent |
| growth | mani challeng europ world global | growth | project drop percent percent expect |
| growth | recess year small rebound forese | growth | percent u japan pictur brighter |
| market | u japan pictur brighter emerg | market | economi expect strong growth although |
| economi | japan pictur brighter emerg market | economi | expect strong growth although bit |
| growth | emerg market economi expect strong | growth | although bit slower past year |
| econom | ago kuala lumpur launch region | econom | outlook asiapacif asia pacif region |
| growth | extern demand recent indic suggest | growth | gain momentum cours nevertheless fragil |
| global | gain momentum cours nevertheless fragil | global | economi expos asia serious downsid |
| economi | momentum cours nevertheless fragil global | economi | expos asia serious downsid risk |
| need | asia serious downsid risk policymak | need | care calibr polici support stabl |
| polici | risk policymak need care calibr | polici | support stabl noninflationari growth challeng |
| growth | calibr polici support stabl noninflationari | growth | challeng environ listen asia voiceasia |
| growth | voiceasia continu main engin world | growth | import voic increas heard global |
| global | growth import voic increas heard | global | econom debat voic need heard |
| econom | import voic increas heard global | econom | debat voic need heard speak |
| need | heard global econom debat voic | need | heard speak region interest advoc |
| global | heard speak region interest advoc | global | econom polici bring sustain recoveri |
| econom | speak region interest advoc global | econom | polici bring sustain recoveri current |
| polici | region interest advoc global econom | polici | bring sustain recoveri current crisi |
| also | sustain recoveri current crisi voic | also | need heard global institut certain |
| need | recoveri current crisi voic also | need | heard global institut certain imf |
| global | crisi voic also need heard | global | institut certain imf membership agre |
| economi | voic fund signific three asian | economi | china japan india among largest |
| global | structur imf reflect realiti today | global | economi may know one key |
| economi | imf reflect realiti today global | economi | may know one key issu |
| need | key issu face intern communiti | need | ensur adequ financi resourc avail |
| global | fight financi crise provis adequ | global | resourc imf one object work |
| also | billion indonesia malaysia thailand could | also | soon join intern effort concret |
| global | challeng face asia integr part | global | economi civil societi organ focus |
| economi | face asia integr part global | economi | civil societi organ focus tokyo |
| polici | focus tokyo meet civil societi | polici | forum run along similar line |
| polici | dialogu throughout year csos whether | polici | program countri surveil alway valu |
| countri | year csos whether polici program | countri | surveil alway valu insight sure |
| global | prepar deliveri focus talk today | global | economi asian economi talk current |
| economi | deliveri focus talk today global | economi | asian economi talk current growth |
| economi | talk today global economi asian | economi | talk current growth recoveri world |
| growth | economi asian economi talk current | growth | recoveri world experienc factor hold |
| growth | potenti let start look snapshot | growth | perform world slide highlight term |
| growth | perform world slide highlight term | growth | end last year clear show |
| economi | year clear show weak advanc | economi | particular europ end last year |
| growth | end last year rang output | growth | across world captur color see |
| growth | across world captur color see | growth | weakest europ strongest asia part |
| economi | outlook poor improv expect world | economi | grow percent year percent growth |
| growth | economi grow percent year percent | growth | uneven europ still expect weak |
| growth | uneven europ still expect weak | growth | overal countri peripheri go outright |
| countri | still expect weak growth overal | countri | peripheri go outright recess advanc |
| countri | go outright recess advanc european | countri | like franc germani modest growth |
| growth | countri like franc germani modest | growth | percent economi us number countri |
| economi | franc germani modest growth percent | economi | us number countri asia africa |
| countri | growth percent economi us number | countri | asia africa forecast gradual strengthen |
| global | gradual strengthen end perform isn | global | economi recov faster talk three |
| economi | strengthen end perform isn global | economi | recov faster talk three main |
| global | prevent stronger recoveri first brake | global | economi fiscal consolid advanc countri |
| economi | stronger recoveri first brake global | economi | fiscal consolid advanc countri plan |
| countri | global economi fiscal consolid advanc | countri | plan consolid fiscal posit year |
| countri | substanti overal averag consolid eurozon | countri | percent gdp import break global |
| global | countri percent gdp import break | global | growth give rough quantif impact |
| growth | percent gdp import break global | growth | give rough quantif impact assum |
| global | unrealist plan consolid shave percent | global | growth rate year second brake |
| growth | plan consolid shave percent global | growth | rate year second brake global |
| global | growth rate year second brake | global | economi bank deleverag expect bank |
| economi | rate year second brake global | economi | bank deleverag expect bank balanc |
| growth | major bank would quit damag | growth | chart show simul impact european |
| global | main us stori know well | global | crisi most result excess household |
| growth | signific drag consumpt main engin | growth | us give idea backof envelop |
| global | us gdp total far talk | global | outlook move asia let touch |
| global | let touch one major risk | global | economi see month ahead risk |
| economi | touch one major risk global | economi | see month ahead risk stem |
| growth | summar negat connect run weakneg | growth | weak bank andor fiscal problem |
| also | crisi europ today must recogn | also | polici action european author taken |
| polici | europ today must recogn also | polici | action european author taken take |
| polici | risk yellow arrow tri captur | polici | effort help break vicious cycl |
| market | bank ecb smp program sovereign | market | purchas eu firewal eas fund |
| need | contagion channel larg fiscal fund | need | growth bank sector said polici |
| growth | channel larg fiscal fund need | growth | bank sector said polici introduc |
| polici | need growth bank sector said | polici | introduc far allevi advers loop |
| need | far allevi advers loop elimin | need | complet break loop turn region |
| econom | region essenti unchang januari world | econom | outlook updat growth continu pace |
| growth | januari world econom outlook updat | growth | continu pace rebound forecast howev |
| growth | howev reflect combin consider lower | growth | emerg asia particular first half |
| economi | particular first half open tradedepend | economi | sharp rebound industri asia industri |
| growth | condit commod provid boost australia | growth | emerg asia whole expect declin |
| growth | Â ½ percent percent recov | growth | region expect gain momentum second |
| growth | demand project improv line better | growth | perform euro area third quarter |
| market | domest demand includ strong labor | market | expect remain solid across region |
| market | currenc appreci us dollar stock | market | post strong gain resumpt strong |
| market | risk howev long outlook emerg | market | remain favor outlook advanc economi |
| economi | market remain favor outlook advanc | economi | capit like continu flow advanc |
| market | like continu flow advanc emerg | market | exert overh pressur well appreci |
| growth | pressur latter medium term perspect | growth | asia becom increas driven domest |
| market | factor drive capit inflow emerg | market | appreci pressur may therefor becom |
| polici | excess risk overshoot may call | polici | action tri slow excess appreci |
| global | could becom even complic uncertainti | global | economi increas lead excess volatil |
| economi | becom even complic uncertainti global | economi | increas lead excess volatil capit |
| market | talk import risk face emerg | market | today risk strong volatil capit |
| economi | let turn downsid risk face | economi | downsid risk asia remain high |
| global | well trade linkag right chart | global | interbank market becom paralyz lehman |
| market | linkag right chart global interbank | market | becom paralyz lehman crisi european |
| economi | credit suppli asia although asian | economi | averag reli less compar region |
| financ | area direct credit includ trade | financ | area wholesal fund region bank |
| also | zealand singapor taiwan provinc china | also | import bear mind asian economi |
| economi | also import bear mind asian | economi | european bank local claim tend |
| global | price sharpli higher given low | global | inventori spare capac impact economi |
| economi | global inventori spare capac impact | economi | region would vari reflect among |
| also | among thing depend oil shock | also | affect commod food price reflect |
| also | affect commod food price reflect | also | approach stabil price domest asian |
| economi | approach stabil price domest asian | economi | pass global commod price inflat |
| global | price domest asian economi pass | global | commod price inflat substanti reach |
| also | case china philippin impact would | also | depend well inflat expect anchor |
| economi | main caus base effect mani | economi | seen rise inflationari expect sinc |
| econom | inflationari expect sinc begin asia | econom | perform support past coupl year |
| polici | year relat expansionari monetari fiscal | polici | fact domest demand benefit continu |
| polici | demand benefit continu eas macro | polici | stanc across region delay return |
| polici | region delay return neutral macroeconom | polici | stanc aggress postcrisi eas prudent |
| global | sever downsid risk asia fragil | global | economi acut financi tension reced |
| economi | downsid risk asia fragil global | economi | acut financi tension reced capit |
| need | earlier year cours balanc risk | need | switch gear quick differ countri |
| countri | need switch gear quick differ | countri | countri medium term asian countri |
| countri | switch gear quick differ countri | countri | medium term asian countri need |
| countri | countri countri medium term asian | countri | need strengthen domest sourc growth |
| need | countri medium term asian countri | need | strengthen domest sourc growth region |
| growth | countri need strengthen domest sourc | growth | region recent project declin current |
| economi | emerg asia includ china asean | economi | rais hope progress made howev |
| global | low consumpt weaken sinc begin | global | financi crisi instead domest demand |
| economi | capac bank balanc sheet asean | economi | reduct current account surplus also |
| also | economi reduct current account surplus | also | coincid increas invest ratio appear |
| market | light invest gap separ emerg | market | final let touch two challeng |
| growth | let touch two challeng sustain | growth | medium term region trade integr |
| growth | rise world lead sourc export | growth | intraregion trade global trade asia |
| global | sourc export growth intraregion trade | global | trade asia trade economi outsid |
| economi | trade global trade asia trade | economi | outsid region doubl sinc intraasian |
| economi | sinc intraasian trade tripl asian | economi | increas form suppli network china |
| countri | chain link china export asian | countri | china would suffer china export |
| market | indirect access chines consum good | market | could offer last benefit asian |
| financ | invest fdi relat stabl sourc | financ | also offer direct growth benefit |
| also | fdi relat stabl sourc financ | also | offer direct growth benefit asia |
| growth | sourc financ also offer direct | growth | benefit asia record attract fdi |
| countri | invest shortag part region asean | countri | fdi could transfer valuabl technolog |
| countri | transfer valuabl technolog expertis bring | countri | closer intern technolog frontier potenti |
| financ | technolog frontier potenti serv sourc | financ | critic area infrastructur develop |
| global | imf made present special seri | global | govern weatherhead center intern affair |
| global | mr shinohara present entitl outlook | global | economi asia focus global economi |
| economi | shinohara present entitl outlook global | economi | asia focus global economi discuss |
| global | outlook global economi asia focus | global | economi discuss growth recoveri world |
| economi | global economi asia focus global | economi | discuss growth recoveri world experienc |
| growth | asia focus global economi discuss | growth | recoveri world experienc three main |
| countri | face recoveri short term challeng | countri | tackl medium term polici recommend |
| polici | challeng countri tackl medium term | polici | recommend final mr shinohara discuss |
| growth | flag key role china play | growth | region trade implic shift trade |
| growth | china rest asia touch japan | growth | challeng possibl respons challeng |
| econom | public servant admir great deft | econom | stewardship incred difficult time m |
| also | stewardship incred difficult time m | also | deepli impress luminari contribut review |
| econom | high level debt one greatest | econom | challeng face nation today especi |
| economi | face nation today especi advanc | economi | want talk today three aspect |
| economi | challengelet start challeng among advanc | economi | ratio debt gdp expect hit |
| global | second world war get main | global | financi crisi direct fallout crisi |
| economi | debt ratio among g advanc | economi | sure fiscal accommod sore need |
| need | economi sure fiscal accommod sore | need | jump deficit help counteract fall |
| polici | extrem situat hand deck term | polici | option pin blame fiscal woe |
| countri | fiscal woe crisi alon advanc | countri | enter crisi worst shape decad |
| countri | debt ratio alreadi postwar peak | countri | simpli use good time well |
| need | see way ventur wise word | need | credibl exit strategi bring debt |
| growth | high public debt drag alreadylow | growth | prospect advanc economi risk renew |
| economi | drag alreadylow growth prospect advanc | economi | risk renew turmoil act suffici |
| countri | act suffici vigor especi sinc | countri | high debt merci financi market |
| market | countri high debt merci financi | market | selffulfil propheci noth go get |
| economi | increas pension healthcar spend advanc | economi | next year  ¾ percent |
| polici | put correct action forev fiscal | polici | short run see way well |
| global | way well first point hasti | global | undifferenti rush auster ultim prove |
| growth | mean overlyaggress adjust today hurt | growth | might actual also rais public |
| also | today hurt growth might actual | also | rais public debt ratio countri |
| countri | also rais public debt ratio | countri | answer differ depend circumst countri |
| countri | countri answer differ depend circumst | countri | extrem pressur market option cut |
| market | depend circumst countri extrem pressur | market | option cut deficit today often |
| countri | deficit today often sharpli hand | countri | fiscal space could consid slow |
| growth | pace adjust today reduc risk | growth | growth slower expect countri let |
| growth | adjust today reduc risk growth | growth | slower expect countri let automat |
| countri | risk growth growth slower expect | countri | let automat stabil oper freeli |
| financ | longer adjust horizon support greater | financ | also seek complement fiscal adjust |
| also | adjust horizon support greater financ | also | seek complement fiscal adjust effort |
| growth | fiscal adjust effort reform boost | growth | open close profess fair also |
| also | growth open close profess fair | also | import fiscal adjust usual mean |
| need | know turn mediumterm fiscal issu | need | credibl mediumterm consolid plan daunt |
| economi | plan daunt challeng among advanc | economi | averag adjust need bring debt |
| need | among advanc economi averag adjust | need | bring debt back percent gdp |
| countri | gdp percent gdp m afraid | countri | need better far among countri |
| need | percent gdp m afraid countri | need | better far among countri japan |
| countri | countri need better far among | countri | japan unit state largest distanc |
| need | unit state largest distanc travel | need | greatest effort need stronger push |
| need | distanc travel need greatest effort | need | stronger push fix public financ |
| financ | need stronger push fix public | financ | includ curb growth entitl spend |
| growth | fix public financ includ curb | growth | entitl spend rais revenu one |
| also | manag fiscal risk fiscal rule | also | build credibl confid consensus around |
| countri | plan imf stand readi help | countri | strengthen fiscal institut relat note |
| countri | awar data limit inconsist across | countri | public sector debt statist step |
| need | sovereign hurt bank hold debt | need | insul sovereign financi sector mean |
| also | pocket bill loss sent taxpay | also | mean get financi sector pay |
| countri | challeng good progress made mani | countri | none fulli resolv fiscal dilemma |
| econom | outcom matter great deal collect | econom | futur thank |
| polici | pleasur would like welcom imf | polici | roundtabl futur financi regul would |
| also | roundtabl futur financi regul would | also | like thank dean anand professor |
| polici | professor lemma senbet center financi | polici | univers maryland support coorgan event |
| also | upcom imfworld bank spring meet | also | encourag minist advanc discuss regulatori |
| polici | discuss regulatori agenda one key | polici | issu g summit june turn |
| global | financi regul key achiev durabl | global | stabil growthfirst let set scene |
| global | growthfirst let set scene briefli | global | economi fair say thing look |
| economi | let set scene briefli global | economi | fair say thing look bit |
| also | europ still heavi strain europ | also | elsewher debt still high public |
| also | high public privat unit state | also | recoveri held back burden household |
| need | water must done eas burden | need | polici path strike right balanc |
| polici | must done eas burden need | polici | path strike right balanc fiscal |
| polici | strike right balanc fiscal monetari | polici | promot stabil growth push ahead |
| growth | fiscal monetari polici promot stabil | growth | push ahead structur polici boost |
| polici | stabil growth push ahead structur | polici | boost competit employ need financi |
| need | structur polici boost competit employ | need | financi regul make financi sector |
| economi | safer put back servic real | economi | see two broad dimens growth |
| growth | economi see two broad dimens | growth | ii stabil first growth stronger |
| growth | dimens growth ii stabil first | growth | stronger growth mean prevent bank |
| growth | ii stabil first growth stronger | growth | mean prevent bank go revers |
| market | revers gear contract credit face | market | pressur solut focus rais capit |
| also | way boost capit ratio solut | also | focus balanc sheet cleanup shed |
| also | asset maintain order fund condit | also | imper second stabil must break |
| growth | guarante sovereign help achiev object | growth | stabil need stronger safer financi |
| need | help achiev object growth stabil | need | stronger safer financi sector put |
| polici | must let financi regul slip | polici | agenda simpli cannot carri financi |
| global | carri financi sector gave us | global | financi crisi need stabl financi |
| need | gave us global financi crisi | need | stabl financi system one serv |
| economi | household rather destabil function real | economi | key challeng strengthen financi regul |
| countri | set standard consist implement across | countri | avoid competit distort ve alreadi |
| also | capit liquid standard phasein arrang | also | recent agreement polici measur address |
| polici | phasein arrang also recent agreement | polici | measur address risk pose global |
| global | polici measur address risk pose | global | system import bank policymak made |
| need | bank policymak made progress still | need | complet reform agenda ensur new |
| countri | standard implement way consist across | countri | need effect implement coordin manner |
| need | implement way consist across countri | need | effect implement coordin manner agre |
| also | effect resolut bank crossbord oper | also | need timet coher undermin resili |
| need | resolut bank crossbord oper also | need | timet coher undermin resili global |
| global | need timet coher undermin resili | global | financi system exampl implement period |
| also | basel iii area definit capit | also | uneven progress across sector limit |
| market | sector limit progress otc deriv | market | reform cross border resolut converg |
| economi | consult process exampl concern rais | economi | could area pace content new |
| market | regul could unintend consequ advanc | market | economi base current interpret doddfrank |
| economi | could unintend consequ advanc market | economi | base current interpret doddfrank act |
| market | interpret euro zone singl financi | market | cannot reli legal institut framework |
| need | break feedback loop sovereign bank | need | risk share across border bank |
| need | help look ahead monetari union | need | support stronger financi integr analysi |
| also | backstop singl deposit insur fund | also | need look beyond advanc countri |
| need | singl deposit insur fund also | need | look beyond advanc countri mexico |
| countri | also need look beyond advanc | countri | mexico g presid work commenc |
| market | sector regulatori reform initi emerg | market | develop economi financi stabil board |
| economi | reform initi emerg market develop | economi | financi stabil board lead close |
| global | goal studi facilit smooth implement | global | agre measur way reopen dilut |
| also | financi crisi second know imf | also | task conduct multilater surveil intern |
| global | surveil intern financi sector semiannu | global | financi stabil report cover emerg |
| global | report cover emerg risk vulner | global | financi system form main multilater |
| polici | leader develop suitabl framework macroprudenti | polici | associ toolkit work monitor consist |
| also | financi regul strong multilater commit | also | need ensur credibl reform agenda |
| need | regul strong multilater commit also | need | ensur credibl reform agenda avoid |
| polici | wider array background includ academ | polici | maker regul privat sector particip |
| polici | provid use sound board current | polici | posit insight help us refin |
| global | institut provid ideal forum discuss | global | econom futur look beyond immedi |
| econom | provid ideal forum discuss global | econom | futur look beyond immedi imper |
| global | imf brook form visionari period | global | crisi robert brook maynard keyn |
| economi | soviet union kemal courag minist | economi | bold reform help put turkey |
| global | spirit g leader came togeth | global | financi crisi renew sens collabor |
| econom | world well result seen improv | econom | climat let also underlin point |
| also | seen improv econom climat let | also | underlin point risk remain high |
| need | time think activ pursu still | need | done know perhap look forward |
| global | forward next week spring meet | global | financi leader washington moment mean |
| market | event past week remind us | market | remain volatil turn corner never |
| economi | corner never easi emerg develop | economi | continu relat sourc strength must |
| polici | recent month time remind power | polici | resolv action yet still risk |
| polici | keep build effort continu strong | polici | countri level continu support european |
| countri | build effort continu strong polici | countri | level continu support european central |
| also | minist strengthen european financi firewal | also | crucial action help slowli sure |
| also | sure restor confid reduc vulner | also | need broader approach stronger global |
| need | restor confid reduc vulner also | need | broader approach stronger global firewal |
| global | also need broader approach stronger | global | firewal push back crisi today |
| global | firewal push back crisi today | global | economi dazzl array instant interconnect |
| economi | push back crisi today global | economi | dazzl array instant interconnect stronger |
| global | firewal ever part solut stronger | global | firewal help complet circl protect |
| countri | help complet circl protect everi | countri | imf help effect possibl need |
| need | countri imf help effect possibl | need | increas resourc fund need abl |
| need | possibl need increas resourc fund | need | abl stand behind member meet |
| need | abl stand behind member meet | need | affect crisi epicent bystand cours |
| global | epicent bystand cours continu reassess | global | risk take account develop econom |
| econom | global risk take account develop | econom | climat well polici action includ |
| polici | account develop econom climat well | polici | action includ europ need may |
| need | well polici action includ europ | need | may quit larg estim earlier |
| need | let us make mistak risk | need | still sizeabl would imprud think |
| countri | encourag express support mani member | countri | increas resourc hope upcom spring |
| growth | moment ii build block futur | growth | stabil put crisi behind uswhich |
| growth | point opportun build stronger foundat | growth | stabil put crisi behind us |
| econom | behind us crisi shaken foundat | econom | framework long benefit growth share |
| growth | foundat econom framework long benefit | growth | share grow inequ weak financi |
| econom | face unemploy hardship loss digniti | econom | loss countri advanc emerg lowincom |
| countri | hardship loss digniti econom loss | countri | advanc emerg lowincom saw pain |
| countri | unemploy especi among young peopl | countri | transit arab spring generat grave |
| econom | support critic prevent risk nearterm | econom | instabl jeopard futur cost inact |
| economi | futur cost inact region world | economi | would mani time higher middl |
| global | time higher middl east elsewher | global | economi must help deliv right |
| economi | higher middl east elsewher global | economi | must help deliv right type |
| growth | must help deliv right type | growth | job peopl need happen scale |
| need | right type growth job peopl | need | happen scale need right even |
| need | job peopl need happen scale | need | right even grappl crisi must |
| growth | rethink paradigm har new type | growth | mean practic best econom mind |
| econom | type growth mean practic best | econom | mind world struggl issu includ |
| need | let sketch think shortrun obvious | need | confid demand immedi focus polici |
| polici | need confid demand immedi focus | polici | must therefor support growth still |
| growth | focus polici must therefor support | growth | still weak let clear mani |
| countri | still weak let clear mani | countri | especi advanc economi fiscal adjust |
| economi | clear mani countri especi advanc | economi | fiscal adjust essenti pace adjust |
| countri | adjust matter must countryspecif yes | countri | choic adjust sharpli quick true |
| economi | sharpli quick true acrosstheboard advanc | economi | gradual reduc deficit allow automat |
| economi | tax revenu fall spend rise | economi | weaken other still flexibl reconsid |
| growth | deficit reduct year limit harm | growth | shortterm caution excus delay effort |
| financ | delay effort restor sound public | financ | ground adjust credibl mediumterm plan |
| need | ground adjust credibl mediumterm plan | need | u japan exampl help address |
| also | exampl help address fiscal concern | also | reinforc confid growth monetari polici |
| growth | fiscal concern also reinforc confid | growth | monetari polici also support growth |
| polici | also reinforc confid growth monetari | polici | also support growth inflat remain |
| also | reinforc confid growth monetari polici | also | support growth inflat remain check |
| growth | growth monetari polici also support | growth | inflat remain check case present |
| economi | check case present virtual advanc | economi | emerg economi bit caution requir |
| economi | present virtual advanc economi emerg | economi | bit caution requir especi rise |
| economi | begin test bound inflat lowincom | economi | also need strike right balanc |
| also | test bound inflat lowincom economi | also | need strike right balanc even |
| need | bound inflat lowincom economi also | need | strike right balanc even hit |
| polici | risk especi radiat europ rebuild | polici | buffer prioriti kind polici help |
| polici | rebuild polici buffer prioriti kind | polici | help get growth restart shortterm |
| growth | prioriti kind polici help get | growth | restart shortterm longerterm must work |
| growth | shortterm longerterm must work toward | growth | inclus durabl clear rebalanc global |
| global | growth inclus durabl clear rebalanc | global | economi shift demand extern deficit |
| economi | inclus durabl clear rebalanc global | economi | shift demand extern deficit surplus |
| countri | shift demand extern deficit surplus | countri | key someth imf advoc time |
| need | china exampl albeit partial know | need | done also know base recent |
| also | albeit partial know need done | also | know base recent imf research |
| econom | equit distribut incom help promot | econom | financi stabil last growth brazil |
| growth | promot econom financi stabil last | growth | brazil exampl reduc inequ signific |
| countri | focus effici set transfer program | countri | reduc inequ much brazil analysi |
| growth | analysi show period uninterrupt high | growth | could percent longer might otherwis |
| growth | inroad reduc poverti yet high | growth | also seen rise inequ inequ |
| also | reduc poverti yet high growth | also | seen rise inequ inequ need |
| need | also seen rise inequ inequ | need | attent need growth need equit |
| need | rise inequ inequ need attent | need | growth need equit growth need |
| growth | inequ inequ need attent need | growth | need equit growth need inclus |
| need | inequ need attent need growth | need | equit growth need inclus growth |
| growth | attent need growth need equit | growth | need inclus growth mani import |
| need | need growth need equit growth | need | inclus growth mani import factor |
| growth | need equit growth need inclus | growth | mani import factor let emphas |
| need | factor let emphas three one | need | financi system support destabil economi |
| economi | need financi system support destabil | economi | mean repair financi system deliv |
| growth | repair financi system deliv credit | growth | job mean better regul supervis |
| countri | better regul supervis coordin across | countri | prevent recurr reckless risktak mean |
| market | improv competit better function labor | market | generat job focus get peopl |
| market | unemploy nobodi pretend easi labor | market | reform difficult mani case involv |
| need | opportun futur especi younger worker | need | done done accord individu countri |
| countri | need done done accord individu | countri | circumst done care three countri |
| countri | countri circumst done care three | countri | undertak sometim wrench reform need |
| need | countri undertak sometim wrench reform | need | social fabric danger stretch must |
| growth | frontier research analysi job inclus | growth | must seiz moment iii coalesc |
| global | seiz moment iii coalesc around | global | changethi bring final point need |
| need | global changethi bring final point | need | us coalesc around take advantag |
| global | advantag major shift take place | global | economi worri linger risk instabl |
| economi | major shift take place global | economi | worri linger risk instabl may |
| market | seen rise fall rise emerg | market | economi inde might well say |
| economi | rise fall rise emerg market | economi | inde might well say emerg |
| also | inde might well say emerg | also | seen histor progress reduc poverti |
| countri | histor progress reduc poverti lowincom | countri | past two decad emerg develop |
| economi | past two decad emerg develop | economi | driven well percent global growth |
| global | develop economi driven well percent | global | growth time span million peopl |
| growth | economi driven well percent global | growth | time span million peopl lift |
| countri | million peopl lift poverti group | countri | increas import player global economi |
| global | group countri increas import player | global | economi must play increas import |
| economi | countri increas import player global | economi | must play increas import part |
| global | must play increas import part | global | govern structur certain seen particip |
| global | certain seen particip strengthen g | global | membership member countri also see |
| countri | strengthen g global membership member | countri | also see everi day imf |
| also | g global membership member countri | also | see everi day imf quota |
| countri | relentless urg relentless urg member | countri | complet reform time manner see |
| global | collabor imf recogn intersect increas | global | world understand stay stay relev |
| need | increas reflect membership serv member | need | effect manag econom chang take |
| econom | serv member need effect manag | econom | chang take countri arab spring |
| countri | effect manag econom chang take | countri | arab spring support imf uniqu |
| need | support home grown program meet | need | built around consensus protect vulner |
| countri | exampl struck recent action sever | countri | africa countri far pledg share |
| countri | recent action sever countri africa | countri | far pledg share recent imf |
| polici | concession lend twothird africa type | polici | choic inspir us let us |
| need | opportun push take action certain | need | keep crisi bay final put |
| polici | one act quick implement right | polici | knowledg today also affect tomorrow |
| also | implement right polici knowledg today | also | affect tomorrow two act togeth |
| countri | like imf friend brook stand | countri | undertak reform everi step way |
| global | engag come morn simpl messag | global | economi need strong u economi |
| economi | come morn simpl messag global | economi | need strong u economi strong |
| need | morn simpl messag global economi | need | strong u economi strong u |
| economi | global economi need strong u | economi | strong u econom leadership time |
| econom | strong u economi strong u | econom | leadership time last centuri seen |
| econom | valu abid vision human potenti | econom | potenti saw marshal plan second |
| global | cold war saw u drive | global | economi past half centuri result |
| economi | war saw u drive global | economi | past half centuri result prosper |
| global | world better futur tri time | global | economi tri emerg deepest pain |
| economi | better futur tri time global | economi | tri emerg deepest pain econom |
| econom | economi tri emerg deepest pain | econom | crisi sinc great depress time |
| econom | grow smaller interconnect day mean | econom | disrupt one countri touch peopl |
| countri | day mean econom disrupt one | countri | touch peopl across globe mind |
| global | let talk three thing morn | global | economylet begin global economi fair |
| global | thing morn global economylet begin | global | economi fair say thing look |
| economi | morn global economylet begin global | economi | fair say thing look bit |
| growth | unit state encourag sign stronger | growth | employ delud fals sens secur |
| polici | laps complac insular rememb courag | polici | action blind luck m think |
| countri | bank restor calm includ fed | countri | ecb europ done keep thing |
| global | help stop contagion support stronger | global | firewal achiev part increas imf |
| also | part increas imf resourc general | also | need stronger safer financi sector |
| need | increas imf resourc general also | need | stronger safer financi sector put |
| global | unit state join forc strengthen | global | regulatori standard bank basel iii |
| need | standard bank basel iii process | need | effect implement coordin manner agre |
| growth | bank cross border oper second | growth | short run matter growth demand |
| growth | second growth short run matter | growth | demand ignor suppli side either |
| growth | suppli side either especi keep | growth | strong steadi boost growth mean |
| growth | keep growth strong steadi boost | growth | mean use monetari polici support |
| polici | boost growth mean use monetari | polici | support activ especi real sign |
| economi | real sign inflat among advanc | economi | also mean use fiscal polici |
| also | sign inflat among advanc economi | also | mean use fiscal polici support |
| polici | economi also mean use fiscal | polici | support activ wherev possibl yes |
| countri | support activ wherev possibl yes | countri | need bring debt time yes |
| need | activ wherev possibl yes countri | need | bring debt time yes countri |
| countri | need bring debt time yes | countri | pressur choic cut deficit today |
| global | pressur choic cut deficit today | global | undifferenti rush auster prove self |
| countri | rush auster prove self defeat | countri | like unit state low cost |
| countri | debt alreadi exceed percent gdp | countri | need stronger push fix public |
| need | alreadi exceed percent gdp countri | need | stronger push fix public financ |
| financ | need stronger push fix public | financ | year ahead includ curb growth |
| growth | financ year ahead includ curb | growth | entitl spend rais revenu unit |
| also | spend rais revenu unit state | also | recoveri held back burden household |
| financ | avoid cost foreclosur improv household | financ | boost consumpt rememb bank help |
| growth | jobseek throughout world especi pain | growth | must also becom inclus everybodi |
| also | world especi pain growth must | also | becom inclus everybodi benefit rise |
| countri | pretti much happen around communiti | countri | longer today denselywoven web interconnect |
| global | trade increas fivefold time crisi | global | capit flow tripl level connect |
| need | think car made modern car | need | differ part loss singl part |
| global | part loss singl part bring | global | suppli chain standstil dead earthquak |
| global | larger scale fair say stori | global | financi crisi realli stori global |
| global | global financi crisi realli stori | global | interconnect perhap countri unit state |
| countri | realli stori global interconnect perhap | countri | unit state intertwin global nexus |
| global | perhap countri unit state intertwin | global | nexus affect affect develop across |
| also | widespread immedi effect unit state | also | heavili integr global trade network |
| global | unit state also heavili integr | global | trade network account percent global |
| global | global trade network account percent | global | trade connect particular strong europ |
| market | europ five top ten oversea | market | u invest europ europeanown compani |
| economi | state employ million peopl european | economi | falter american recoveri american job |
| also | point integr pose great risk | also | promis great reward heighten global |
| global | also promis great reward heighten | global | cooper key histori shown us |
| countri | hardship devast first half centuri | countri | pull apart sometim tore apart |
| countri | imf idea behind imf simpl | countri | work togeth common interest help |
| need | togeth common interest help time | need | everyon would prosper togeth idea |
| econom | import equal import today imf | econom | club giant credit union member |
| countri | club giant credit union member | countri | cooper one singl mandat global |
| global | countri cooper one singl mandat | global | financi stabil act conduit countri |
| countri | global financi stabil act conduit | countri | pool resourc provid lifelin member |
| need | pool resourc provid lifelin member | need | imf trench start help member |
| econom | onto marshal plan climb back | econom | health vital devast war newli |
| countri | vital devast war newli independ | countri | africa asia sought find foot |
| countri | full hope optim latin american | countri | struggl break free morass debt |
| global | world tri build institut bottom | global | economi almost collaps three short |
| economi | tri build institut bottom global | economi | almost collaps three short year |
| need | short year ago today world | need | imf ever provid circl protect |
| global | imf ever provid circl protect | global | turbul help member adjust chang |
| need | minim disrupt effect today world | need | resourc said earlier european move |
| global | cannot everybodi benefit think pool | global | resourc precis term must also |
| also | global resourc precis term must | also | point imf good invest member |
| need | unit state money drawn upon | need | money earn interest money use |
| countri | rigor condit ensur effect member | countri | ever lost money contribut imf |
| global | last point tecton plate shift | global | economi dynam emerg market like |
| economi | point tecton plate shift global | economi | dynam emerg market like brazil |
| market | shift global economi dynam emerg | market | like brazil russia india china |
| also | china assum evergreat role chang | also | reflect imf member approv reform |
| countri | approv reform increas quota share | countri | countri must implement reform urg |
| countri | reform increas quota share countri | countri | must implement reform urg make |
| global | cours th centuri saw accomplish | global | communiti pull togeth especi unit |
| econom | lead role anoth moment u | econom | leadership second world riven infin |
| econom | neighbor histori made us friend | econom | made us partner necess made |
| econom | world stand togeth face major | econom | challeng u lead partner third |
| global | four broad topic discuss briefli | global | econom set focus outlook risk |
| econom | broad topic discuss briefli global | econom | set focus outlook risk polici |
| polici | econom set focus outlook risk | polici | challeng economi asia pacif region |
| economi | focus outlook risk polici challeng | economi | asia pacif region major near |
| economi | mediumterm challeng central bank asean | economi | calibr right amount insur still |
| need | calibr right amount insur still | need | support stabl noninflationari growth also |
| growth | still need support stabl noninflationari | growth | also import longerterm challeng need |
| also | need support stabl noninflationari growth | also | import longerterm challeng need address |
| need | growth also import longerterm challeng | need | address discuss two financi stabil |
| global | present let begin say word | global | economi global economi gone difficult |
| economi | let begin say word global | economi | global economi gone difficult time |
| global | begin say word global economi | global | economi gone difficult time recent |
| economi | say word global economi global | economi | gone difficult time recent year |
| econom | recent year late last year | econom | indic point sharp setback global |
| global | econom indic point sharp setback | global | recoveri recent week posit sign |
| polici | emerg includ unit state import | polici | action particular european policymak help |
| also | recent agreement new program greec | also | brought relief import implement agre |
| economi | implement agre action effort world | economi | avoid extrem disrupt outcom room |
| need | disrupt outcom room complac lot | need | done give fresh boost growth |
| growth | need done give fresh boost | growth | repair financi system still long |
| countri | way go public debt mani | countri | remain alltim high constrain polici |
| polici | countri remain alltim high constrain | polici | action unemploy also remain high |
| also | high constrain polici action unemploy | also | remain high mani countri oil |
| countri | unemploy also remain high mani | countri | oil price increas present real |
| global | go littl detail outlook said | global | recoveri suffer major setback late |
| market | collaps advers spillov affect emerg | market | economi factor includ polici tighten |
| economi | advers spillov affect emerg market | economi | factor includ polici tighten emerg |
| polici | emerg market economi factor includ | polici | tighten emerg asia latin america |
| also | america social unrest middl east | also | took toll growth unit state |
| growth | middl east also took toll | growth | unit state howev credit labor |
| market | unit state howev credit labor | market | began show sign life consumpt |
| growth | life consumpt inventori adjust support | growth | reflect develop latest project publish |
| global | publish januari point small declin | global | growth year compar growth perform |
| growth | januari point small declin global | growth | year compar growth perform unit |
| growth | declin global growth year compar | growth | perform unit state compar favor |
| econom | longterm refinanc oper high frequenc | econom | indic pmi indic reflect improv |
| polici | improv situat fragil ith import | polici | challeng remain address downsid risk |
| need | escal avoid risk european policymak | need | pursu fiscal adjust right pace |
| countri | right pace pace differ across | countri | also need pursu financi reform |
| also | pace pace differ across countri | also | need pursu financi reform stabil |
| need | pace differ across countri also | need | pursu financi reform stabil bank |
| need | sector structur reform restor competit | need | increas strength firewal provid adequ |
| polici | polit pressur could forc excess | polici | tighten advanc countri still room |
| countri | forc excess polici tighten advanc | countri | still room accommod polici us |
| polici | advanc countri still room accommod | polici | us inde pace us fiscal |
| growth | element agreement might closer home | growth | asia also expect regain momentum |
| also | might closer home growth asia | also | expect regain momentum year activ |
| growth | high capac util robust credit | growth | recent lead econom indic strengthen |
| econom | robust credit growth recent lead | econom | indic strengthen capit flow emerg |
| growth | remain fragil background despit moder | growth | china expect growth asia year |
| growth | despit moder growth china expect | growth | asia year remain broad line |
| growth | demand relat strong employ support | growth | addit continu capit inflow reconstruct |
| also | invest consumpt across region asia | also | expos larg downsid risk face |
| global | expos larg downsid risk face | global | economi valuead basi mani smaller |
| economi | larg downsid risk face global | economi | valuead basi mani smaller open |
| economi | basi mani smaller open asian | economi | gdp link demand outsid asia |
| market | demand outsid asia most tradit | market | unit state europ sharp fall |
| growth | credit suppli shock fact credit | growth | continu doubl digit rate region |
| market | digit rate region local bond | market | continu expand turn inflat see |
| global | price given geopolit tension low | global | inventori spare capac background asean |
| need | difficult task calibr amount insur | need | support stabl non inflationari growth |
| growth | need support stabl non inflationari | growth | one hand downsid risk still |
| need | downsid risk still loom policymak | need | remain vigil sign renew deterior |
| polici | extern condit may requir eas | polici | countri requisit polici space acut |
| countri | condit may requir eas polici | countri | requisit polici space acut global |
| polici | requir eas polici countri requisit | polici | space acut global risk reced |
| global | countri requisit polici space acut | global | risk reced earlier year sign |
| also | bottom asia first quarter policymak | also | stand readi return neutral macro |
| polici | stand readi return neutral macro | polici | cours balanc risk need switch |
| need | macro polici cours balanc risk | need | switch gear quick differ countri |
| countri | need switch gear quick differ | countri | countri said general enough space |
| countri | switch gear quick differ countri | countri | said general enough space asean |
| economi | said general enough space asean | economi | counter sharp downturn event renew |
| global | counter sharp downturn event renew | global | turmoil given lower public debt |
| growth | medium term strengthen domest sourc | growth | crucial happen enough yet recent |
| also | sharp declin current account surplus | also | reflect secular deterior term trade |
| also | secular deterior term trade perhap | also | satur export market given china |
| market | trade perhap also satur export | market | given china alreadi high market |
| market | market given china alreadi high | market | share china particular imbal seem |
| economi | seem shift current account domest | economi | excess low consumpt weaken sinc |
| global | low consumpt weaken sinc begin | global | crisi domest demand driven strong |
| global | challeng central bank face wake | global | crisi twenti year prior crisi |
| polici | central bank built solid monetari | polici | framework often base inflat target |
| econom | prolong period low inflat higher | econom | growth global financi crisi erupt |
| growth | period low inflat higher econom | growth | global financi crisi erupt central |
| global | low inflat higher econom growth | global | financi crisi erupt central bank |
| polici | central bank emerg main protagonist | polici | respons fiscal polici initi abl |
| polici | main protagonist polici respons fiscal | polici | initi abl play countercycl role |
| polici | public debt level thus monetari | polici | call action particular advanc economi |
| economi | polici call action particular advanc | economi | central bank lower interest rate |
| polici | zero expand balanc sheet unconvent | polici | without step cost crisi would |
| market | public balanc sheet develop emerg | market | countri central bank also play |
| countri | balanc sheet develop emerg market | countri | central bank also play crucial |
| also | emerg market countri central bank | also | play crucial function eas liquid |
| need | ahead first central bank may | need | play critic role design implement |
| polici | critic role design implement macroprudenti | polici | second face difficult task preserv |
| polici | difficult task preserv effect monetari | polici | face potenti fiscal domin macroprudenti |
| polici | face potenti fiscal domin macroprudenti | polici | today increas recognit gap macroprudenti |
| global | systemwid risk increas time led | global | financi crisi prevent cost crisi |
| countri | prevent cost crisi happen mani | countri | revisit institut foundat natur crisi |
| polici | critic role design implement macroprudenti | polici | exampl new institut arrang introduc |
| polici | bank chair committe charg macroprudenti | polici | debat mean macroprudenti polici grow |
| polici | macroprudenti polici debat mean macroprudenti | polici | grow converg around view polici |
| polici | polici grow converg around view | polici | use primarili prudenti tool limit |
| econom | system may materi advers impact | econom | activ key question shape conduct |
| polici | key question shape conduct macroprudenti | polici | institut arrang put place clearcut |
| polici | first given countercycl natur macroprudenti | polici | subject advers polit economi influenc |
| economi | macroprudenti polici subject advers polit | economi | influenc thus macroprudenti polici make |
| polici | polit economi influenc thus macroprudenti | polici | make take place environ polit |
| polici | typic support central bank monetari | polici | decis second central bank contribut |
| polici | second central bank contribut macroprudenti | polici | expertis analysi system risk given |
| market | wealth experi communic complex risk | market | general public involv central bank |
| polici | public involv central bank macroprudenti | polici | also carri potenti difficulti interrelationship |
| also | involv central bank macroprudenti polici | also | carri potenti difficulti interrelationship macroprudenti |
| polici | potenti difficulti interrelationship macroprudenti monetari | polici | well understood often countryspecif particular |
| polici | often countryspecif particular impact monetari | polici | decis financi stabil transmiss channel |
| polici | financi stabil transmiss channel monetari | polici | affect financi sector behavior privat |
| countri | onesizefitsal answer might hing specif | countri | characterist structur financi system exposur |
| polici | regim fiscal domin independ monetari | polici | second import challeng face central |
| countri | face central bank especi advanc | countri | conduct monetari polici presenc larg |
| polici | especi advanc countri conduct monetari | polici | presenc larg public debt gross |
| economi | debt gdp around percent g | economi | much countri like itali japan |
| countri | around percent g economi much | countri | like itali japan requir fiscal |
| polici | stimul aggreg demand fall monetari | polici | normal circumst typic monetari polici |
| polici | polici normal circumst typic monetari | polici | respons lower short term interest |
| global | measur expand balanc sheet respons | global | crisi overal measur seem relat |
| need | sheet cope new challeng policymak | need | avoid undermin hardwon independ monetari |
| polici | avoid undermin hardwon independ monetari | polici | role central bank govern entiti |
| need | role central bank govern entiti | need | preserv clear delin central bank |
| need | preserv clear delin central bank | need | remain anchor macroeconom stabil independ |
| global | institut sum let say prospect | global | recoveri improv recent week signific |
| growth | recent week signific risk remain | growth | asean also set regain momentum |
| also | signific risk remain growth asean | also | set regain momentum polici maker |
| polici | asean also set regain momentum | polici | maker face difficult challeng balanc |
| growth | right amount insur support stabl | growth | key nearterm challeng comprehens macroeconom |
| polici | challeng comprehens macroeconom structur reform | polici | need bring last econom rebalanc |
| need | comprehens macroeconom structur reform polici | need | bring last econom rebalanc central |
| econom | reform polici need bring last | econom | rebalanc central bank safeguard financi |
| also | chulalongkorn univers contribut import thailand | also | mani global institut well includ |
| global | contribut import thailand also mani | global | institut well includ imf also |
| also | global institut well includ imf | also | pleas back thailand today wit |
| economi | thailand today wit strong recoveri | economi | thai peopl natur disast unpreced |
| econom | widespread destruct led largest quarteronquart | econom | declin recent thai histori strong |
| global | forc endur let say word | global | economi turn present global economi |
| economi | endur let say word global | economi | turn present global economi gone |
| global | word global economi turn present | global | economi gone hard time recent |
| economi | global economi turn present global | economi | gone hard time recent year |
| econom | recent year late last year | econom | indic point harsh setback global |
| global | econom indic point harsh setback | global | recoveri recent week posit sign |
| polici | modest includ unit state import | polici | action particular european policymak help |
| also | program greec imf european partner | also | brought relief import implement agre |
| economi | implement agre action effort world | economi | avoid extrem disrupt outcom room |
| need | disrupt outcom room complac lot | need | done give fresh boost growth |
| growth | need done give fresh boost | growth | repair financi system still long |
| countri | way go public debt mani | countri | remain alltim high constrain polici |
| polici | countri remain alltim high constrain | polici | action unemploy also remain high |
| also | high constrain polici action unemploy | also | remain high mani countri oil |
| countri | unemploy also remain high mani | countri | oil price increas present real |
| economi | narrow path everyon job advanc | economi | use macroeconom polici support recoveri |
| polici | job advanc economi use macroeconom | polici | support recoveri space press ahead |
| economi | repair damag done crisi emerg | economi | need stay vigil possibl spillov |
| need | damag done crisi emerg economi | need | stay vigil possibl spillov advanc |
| economi | stay vigil possibl spillov advanc | economi | keep overh pressur check applic |
| countri | keep overh pressur check applic | countri | need make clear effort translat |
| need | overh pressur check applic countri | need | make clear effort translat higher |
| growth | make clear effort translat higher | growth | better live standard talk today |
| global | broad topic discuss bit detail | global | econom set focus outlook risk |
| econom | topic discuss bit detail global | econom | set focus outlook risk polici |
| polici | econom set focus outlook risk | polici | challeng economi asiapacif region major |
| economi | focus outlook risk polici challeng | economi | asiapacif region major near mediumterm |
| economi | near mediumterm challeng make asian | economi | resili extern shock would like |
| also | resili extern shock would like | also | offer view progress region integr |
| growth | play role achiev broaderbas stabl | growth | hint global recoveri suffer major |
| global | achiev broaderbas stabl growth hint | global | recoveri suffer major setback late |
| market | advers trade spillov affect emerg | market | economi specif factor includ polici |
| economi | trade spillov affect emerg market | economi | specif factor includ polici tighten |
| polici | market economi specif factor includ | polici | tighten emerg asia latin america |
| also | america social unrest middl east | also | took toll growth unit state |
| growth | middl east also took toll | growth | unit state howev credit labor |
| market | unit state howev credit labor | market | began show sign life consumpt |
| growth | life consumpt inventori adjust support | growth | reflect develop latest project publish |
| global | latest project publish januari point | global | growth slight percent near percent |
| growth | project publish januari point global | growth | slight percent near percent expect |
| growth | slight percent near percent expect | growth | unit state strengthen slight compar |
| also | agreement euro area fiscal compact | also | help lower sovereign risk premia |
| econom | sovereign risk premia high frequenc | econom | indic reflect improv manufactur pmi |
| economi | manufactur pmi indic advanc emerg | economi | nudg expansionari threshold recent week |
| polici | said recent improv fragil import | polici | challeng remain address downsid risk |
| need | far avoid risk european policymak | need | pursu fiscal adjust right pace |
| countri | right pace pace differ across | countri | also need pursu financi reform |
| also | pace pace differ across countri | also | need pursu financi reform stabil |
| need | pace differ across countri also | need | pursu financi reform stabil bank |
| need | sector structur reform restor competit | need | increas strength firewal provid adequ |
| polici | stand way suffici easi macroeconom | polici | exampl unit state expect fiscal |
| growth | committe deficit reduct closer home | growth | asia also expect regain momentum |
| also | reduct closer home growth asia | also | expect regain momentum year activ |
| growth | high capac util robust credit | growth | first month lead econom indic |
| econom | credit growth first month lead | econom | indic strengthen global export order |
| global | month lead econom indic strengthen | global | export order manufactur pmis unit |
| also | similar improv asia consum confid | also | strengthen moreov capit flow emerg |
| market | last year result equiti currenc | market | regain ground lost late background |
| growth | ground lost late background expect | growth | region remain broad line outcom |
| growth | region remain broad line outcom | growth | prospect advanc economi continu critic |
| economi | line outcom growth prospect advanc | economi | continu critic asia overal export |
| also | asia overal export dynam forecast | also | reflect moder growth china time |
| growth | dynam forecast also reflect moder | growth | china time solid fundament domest |
| growth | demand relat strong employ support | growth | addit continu capit inflow would |
| growth | suppli disrupt provid temporari boost | growth | japan thailand greater public invest |
| economi | strengthen domest demand major asean | economi | howev high degre trade financi |
| global | expos larg downsid risk surround | global | recoveri valuead basi mani smaller |
| economi | basi mani smaller open asian | economi | gdp link demand outsid asia |
| market | bulk demand still come tradit | market | unit state europ sharp fall |
| market | similar foreign particip local financi | market | steadili increas past decad reach |
| market | percent case indonesian govern bond | market | impli region becom expos risk |
| growth | credit suppli shock fact credit | growth | continu doubl digit rate asean |
| countri | continu doubl digit rate asean | countri | india china hand also upsid |
| also | asean countri india china hand | also | upsid risk growth inflat asia |
| growth | china hand also upsid risk | growth | inflat asia financi condit euro |
| global | price sharpli higher given low | global | inventori spare capac higher oil |
| growth | would add inflat pressur worsen | growth | prospect rais cost fuelrel subsidi |
| economi | say word outlook thailand thai | economi | close integr global economi advers |
| global | thailand thai economi close integr | global | economi advers affect global financi |
| economi | thai economi close integr global | economi | advers affect global financi crisi |
| global | integr global economi advers affect | global | financi crisi growth drop percent |
| growth | advers affect global financi crisi | growth | drop percent howev thai economi |
| economi | growth drop percent howev thai | economi | also proven extrem resili bounc |
| also | drop percent howev thai economi | also | proven extrem resili bounc back |
| economi | bounc back quick shock inde | economi | bounc back sharpli growth reach |
| growth | inde economi bounc back sharpli | growth | reach percent thailand current recov |
| economi | suppli chain disrupt first quarter | economi | start recov massiv flood brought |
| growth | percent gdp year basi gdp | growth | shrank bare posit percent resili |
| economi | shrank bare posit percent resili | economi | alreadi evid expect sharp rebound |
| polici | percent  ½ percent current | polici | mix accommod monetari polici fiscal |
| polici | current polici mix accommod monetari | polici | fiscal stimulus view provid welcom |
| global | term import remain vigil given | global | risk volatil today environ look |
| global | mediumterm gradual unwind call assum | global | econom situat continu normal welcom |
| econom | gradual unwind call assum global | econom | situat continu normal welcom emphasi |
| growth | emphasi place increas product make | growth | inclus effect polici measur need |
| polici | product make growth inclus effect | polici | measur need care monitor ensur |
| need | growth inclus effect polici measur | need | care monitor ensur object achiev |
| polici | object achiev effici manner main | polici | challeng countri asia broad backdrop |
| countri | effici manner main polici challeng | countri | asia broad backdrop still high |
| need | difficult task calibr amount insur | need | support stabl non inflationari growth |
| growth | need support stabl non inflationari | growth | one hand sever downsid risk |
| need | downsid risk still loom policymak | need | remain vigil sign renew deterior |
| polici | extern condit may requir eas | polici | countri requisit polici space acut |
| countri | condit may requir eas polici | countri | requisit polici space acut financi |
| polici | requir eas polici countri requisit | polici | space acut financi tension reced |
| also | asia first quarter policymak region | also | stand readi return neutral macro |
| polici | stand readi return neutral macro | polici | cours balanc risk need switch |
| need | macro polici cours balanc risk | need | switch gear quick differ countri |
| countri | need switch gear quick differ | countri | countri economi greater exposur downsid |
| countri | switch gear quick differ countri | countri | economi greater exposur downsid risk |
| economi | gear quick differ countri countri | economi | greater exposur downsid risk closer |
| polici | downsid risk closer neutral monetari | polici | stanc could afford paus longer |
| growth | stickier core inflat buoyant credit | growth | may need faster return neutral |
| need | inflat buoyant credit growth may | need | faster return neutral polici stanc |
| polici | may need faster return neutral | polici | stanc thrust fiscal polici rebuild |
| polici | neutral polici stanc thrust fiscal | polici | rebuild space reorient spend toward |
| econom | space reorient spend toward faster | econom | rebalanc remaind present would like |
| econom | present would like focus role | econom | integr play make thailand asian |
| economi | integr play make thailand asian | economi | resili china domin forc chang |
| econom | decad focus first potenti impact | econom | rebalanc rest asia final briefli |
| growth | rise world lead sourc export | growth | intraregion trade global trade asia |
| global | sourc export growth intraregion trade | global | trade asia trade economi outsid |
| economi | trade global trade asia trade | economi | outsid region doubl sinc intraasian |
| economi | driven export intermedi good asian | economi | increas form suppli network china |
| countri | closer look vertic integr export | countri | pair asia underscor profound role |
| economi | increas intermedi good export asean | economi | begin japan wide margin import |
| countri | account averag percent direct export | countri | decad later japan share fallen |
| global | imbal retreat time china share | global | export alreadi level exportori economi |
| economi | global export alreadi level exportori | economi | japan korea began experi wane |
| market | began experi wane abil gain | market | share although china may continu |
| market | china may continu increas export | market | share particular export basket rotat |
| economi | may well moder come year | economi | asia benefit domesticdemand led growth |
| growth | economi asia benefit domesticdemand led | growth | china import distinguish invest consumptionl |
| growth | china import distinguish invest consumptionl | growth | latter would consist sustain rebalanc |
| also | may sustain domest perspect may | also | fall event china export growth |
| growth | also fall event china export | growth | set slow perman given close |
| growth | invest export china rebal consumptionl | growth | asean economi appear well posit |
| economi | china rebal consumptionl growth asean | economi | appear well posit benefit given |
| growth | diminish time first despit rapid | growth | china role import consum good |
| global | good still margin account percent | global | consum good import second share |
| global | consum good import second share | global | consum good import risen less |
| global | import risen less sinc share | global | consumpt word chines consum turn |
| growth | product would potenti slow export | growth | china affect rest asia result |
| economi | trade integr describ correl asian | economi | export china chines export increas |
| growth | decad estim suggest chines export | growth | declin percentag point would reduc |
| growth | declin percentag point would reduc | growth | asian economi export china percentag |
| economi | point would reduc growth asian | economi | export china percentag point impact |
| growth | asian trade partner benefit investmentl | growth | china may face grow headwind |
| also | suppli chain link china would | also | hurt china export slow contrast |
| market | indirect access chines consum good | market | could offer last benefit asian |
| global | partner measur high degre integr | global | trade system asian economi degre |
| economi | integr global trade system asian | economi | degre financi integr seem low |
| countri | financi integr seem low typic | countri | degre financi integr measur share |
| global | degre financi integr measur share | global | crossbord capit flow relat share |
| global | crossbord capit flow relat share | global | gdp tend increas degre trade |
| global | degre trade integr measur share | global | export import relat share global |
| global | global export import relat share | global | gdp howev compar world asian |
| economi | gdp howev compar world asian | economi | rapid expans global trade match |
| global | world asian economi rapid expans | global | trade match role intern financ |
| financ | global trade match role intern | financ | true especi emerg economi south |
| economi | intern financ true especi emerg | economi | south east asia includ malaysia |
| countri | malaysia thailand philippin indonesia group | countri | main channel financi integr fdi |
| global | last decad except sharp declin | global | financi crisi relat gdp crossbord |
| economi | financi posit asia compar emerg | economi | latin america eastern europ remain |
| economi | smaller euro area group advanc | economi | financi integr howev crossbord portfolio |
| economi | interregion take place main advanc | economi | outsid asia especi adjust role |
| countri | signific benefit first deepen diversifi | countri | overal degre financi integr region |
| countri | integr region integr would afford | countri | wider rang instrument financi asset |
| also | consum investor financi servic would | also | strengthen domest demand region support |
| econom | strengthen domest demand region support | econom | rebalanc imf staff estim suggest |
| global | suggest degre financi integr asia | global | norm averag across emerg asia |
| market | foreign particip local currenc bond | market | could lower yield moreov facilit |
| global | save sum let say prospect | global | recoveri improv recent week signific |
| growth | recent week signific risk remain | growth | asia also set regain momentum |
| also | signific risk remain growth asia | also | set regain momentum polici maker |
| polici | asia also set regain momentum | polici | maker face difficult challeng balanc |
| growth | right amount insur support stabl | growth | key nearterm challeng reform enabl |
| countri | key nearterm challeng reform enabl | countri | fulli benefit greater region trade |
| also | greater region trade financi integr | also | play import role make asia |
| econom | asia resili extern shock asean | econom | communiti aim go beyond mere |
| market | trade integr toward build common | market | free flow good factor servic |
| countri | opportun exchang view pacif island | countri | navig current global econom environ |
| global | pacif island countri navig current | global | econom environ region policymak increas |
| econom | island countri navig current global | econom | environ region policymak increas countri |
| countri | econom environ region policymak increas | countri | resili shock promot growth regard |
| growth | increas countri resili shock promot | growth | regard role privat sector develop |
| also | privat sector develop partner cours | also | critic would like express sincer |
| also | cohost event generous hospit would | also | like thank author pacif island |
| countri | like thank author pacif island | countri | gather togeth main develop partner |
| economi | topic discuss share thought region | economi | promot growth amid period great |
| growth | share thought region economi promot | growth | amid period great global uncertainti |
| global | promot growth amid period great | global | uncertainti global outlookit appropri begin |
| global | amid period great global uncertainti | global | outlookit appropri begin overview global |
| global | global outlookit appropri begin overview | global | outlook know global prospect improv |
| global | begin overview global outlook know | global | prospect improv compar month ago |
| polici | compar month ago thank strong | polici | measur europ see sign global |
| global | polici measur europ see sign | global | economi stabil market calm recent |
| economi | measur europ see sign global | economi | stabil market calm recent data |
| market | see sign global economi stabil | market | calm recent data show uptick |
| econom | calm recent data show uptick | econom | activ especi u wood yet |
| need | still major risk vulner policymak | need | address financi system still high |
| econom | still high unemploy still major | econom | social problem top fuel price |
| global | hike could becom major threat | global | recoveri region landscapelet turn asia |
| global | asia australia resili region recent | global | financi crisi reason hold import |
| economi | cut one third korea asean | economi | prudent fiscal monetari polici also |
| polici | asean economi prudent fiscal monetari | polici | also creat polici room respond |
| also | economi prudent fiscal monetari polici | also | creat polici room respond negat |
| polici | fiscal monetari polici also creat | polici | room respond negat spillov global |
| global | polici room respond negat spillov | global | economi result greater polici space |
| economi | room respond negat spillov global | economi | result greater polici space credibl |
| polici | spillov global economi result greater | polici | space credibl asian economi could |
| economi | greater polici space credibl asian | economi | could afford take bolder action |
| global | could afford take bolder action | global | financi crisi implement larg polici |
| polici | global financi crisi implement larg | polici | stimulus reduc polici rate twice |
| polici | implement larg polici stimulus reduc | polici | rate twice much part world |
| also | world essenti region speedi recoveri | also | help support global activ australia |
| global | speedi recoveri also help support | global | activ australia remark resili global |
| global | global activ australia remark resili | global | turmoil record strongest growth advanc |
| growth | resili global turmoil record strongest | growth | advanc economi australia resili result |
| economi | turmoil record strongest growth advanc | economi | australia resili result robust demand |
| polici | rate healthi bank sector larg | polici | space creat credibl fiscal monetari |
| polici | space creat credibl fiscal monetari | polici | year preced crisi see cours |
| also | see cours confer resili australia | also | help pacif island navig crisi |
| countri | navig crisi one key lesson | countri | first insur shock build polici |
| polici | countri first insur shock build | polici | space buffer implement structur reform |
| growth | good time backdrop outlook asia | growth | asia expect gain momentum although |
| growth | high capac util robust credit | growth | recent lead indic point pickup |
| growth | capit inflow emerg asia averag | growth | asia pacif region whole project |
| economi | shock risk balancedwhil mani asian | economi | increas resili still expos extern |
| economi | channel sharp fall export advanc | economi | revers foreign capit flow would |
| global | effect domest demand upsid stabil | global | econom financi condit could boost |
| econom | domest demand upsid stabil global | econom | financi condit could boost growth |
| growth | econom financi condit could boost | growth | add inflationari pressur region macroeconom |
| polici | add inflationari pressur region macroeconom | polici | stanc remain general accommod role |
| polici | stanc remain general accommod role | polici | asia polici scope respond abrupt |
| polici | general accommod role polici asia | polici | scope respond abrupt chang global |
| global | polici scope respond abrupt chang | global | econom outlook also robust insur |
| econom | scope respond abrupt chang global | econom | outlook also robust insur risk |
| also | abrupt chang global econom outlook | also | robust insur risk extern shock |
| growth | asia remain stronger domest sourc | growth | achiev rebalanc china would requir |
| countri | climat liber trade maxim gain | countri | ongo demograph transit among asean |
| economi | ongo demograph transit among asean | economi | public invest infrastructur could help |
| growth | privat invest therebi promot broadbas | growth | australia polici flexibl almost advanc |
| polici | therebi promot broadbas growth australia | polici | flexibl almost advanc economi one |
| economi | australia polici flexibl almost advanc | economi | one highest polici rate among |
| polici | almost advanc economi one highest | polici | rate among lowest public net |
| economi | narrow product export base limit | economi | scale lack diversif high fix |
| also | govern given small size popul | also | vulner state depend heavili aid |
| financ | vulner state depend heavili aid | financ | intern extern imbal climat chang |
| also | imbal climat chang geograph remot | also | pose challeng climat chang huge |
| also | island kiribati tuvalu marshal island | also | import implic nonatol island solomon |
| countri | chang enorm cannot intern small | countri | transport cost far greater hundr |
| growth | eco tourism could boost potenti | growth | hold true develop extens marineresourc |
| economi | endow world proxim resili australian | economi | emerg asia also help meet |
| also | resili australian economi emerg asia | also | help meet challeng polici need |
| polici | asia also help meet challeng | polici | need respond main polici challeng |
| need | also help meet challeng polici | need | respond main polici challeng key |
| polici | challeng polici need respond main | polici | challeng key challeng boost potenti |
| growth | challeng key challeng boost potenti | growth | pacif island countri weak last |
| countri | boost potenti growth pacif island | countri | weak last decad commod import |
| global | stuck lowgrowth path year preced | global | financi crisi pacif island growth |
| growth | global financi crisi pacif island | growth | averag percent year much lower |
| countri | much lower rate asian lowincom | countri | growth percent eastern caribbean currenc |
| growth | lower rate asian lowincom countri | growth | percent eastern caribbean currenc union |
| countri | percent eastern caribbean currenc union | countri | growth percent small state growth |
| growth | eastern caribbean currenc union countri | growth | percent small state growth  |
| growth | countri growth percent small state | growth | Â ½ percent similar compar |
| growth | compar anoth challeng broaden base | growth | ensur growth inclus know diversifi |
| growth | challeng broaden base growth ensur | growth | inclus know diversifi economi like |
| economi | ensur growth inclus know diversifi | economi | like less vulner shock better |
| growth | better abl support sustain broadbas | growth | also know inclus growth growth |
| also | abl support sustain broadbas growth | also | know inclus growth growth creat |
| growth | broadbas growth also know inclus | growth | growth creat job peopl share |
| growth | growth also know inclus growth | growth | creat job peopl share benefit |
| growth | wide matter longrun stabil although | growth | among commod export fast late |
| polici | export fast late one key | polici | issu ensur benefit commod wealth |
| economi | benefit commod wealth spread rest | economi | form job creat noncommod sector |
| also | improv access credit privat sector | also | way make growth inclus discuss |
| growth | privat sector also way make | growth | inclus discuss confer volatil sourc |
| countri | shock particular relev pacif island | countri | reli fish licens fee key |
| countri | mani year come pacif island | countri | global economi trade financi integr |
| global | year come pacif island countri | global | economi trade financi integr benefit |
| economi | come pacif island countri global | economi | trade financi integr benefit pacif |
| countri | financi integr benefit pacif island | countri | also brought challeng shock transmit |
| also | integr benefit pacif island countri | also | brought challeng shock transmit faster |
| global | shock transmit faster spillov region | global | economi increas last twenti year |
| economi | transmit faster spillov region global | economi | increas last twenti year abl |
| growth | build self insur good time | growth | solid extern condit still favor |
| countri | rein deficit shore reserv way | countri | could build polici space cushion |
| polici | reserv way countri could build | polici | space cushion bad time especi |
| also | support reach vulner quick effici | also | need increas spend critic infrastructur |
| need | reach vulner quick effici also | need | increas spend critic infrastructur health |
| growth | infrastructur health educ increas potenti | growth | implement growth orient structur reform |
| growth | educ increas potenti growth implement | growth | orient structur reform would help |
| growth | boost investor confid higher potenti | growth | recip sustain growth stronger longterm |
| growth | higher potenti growth recip sustain | growth | stronger longterm resili polici need |
| polici | sustain growth stronger longterm resili | polici | need adjust need becom flexibl |
| need | growth stronger longterm resili polici | need | adjust need becom flexibl credibl |
| need | longterm resili polici need adjust | need | becom flexibl credibl sometim entail |
| also | framework develop multiyear budget framework | also | need simpl fiscal rule take |
| need | develop multiyear budget framework also | need | simpl fiscal rule take account |
| economi | govern better priorit spend support | economi | downturn imf help meet challeng |
| countri | extrem challeng agenda pacif island | countri | set cours prioriti imf deeper |
| need | dialogu imf listen even care | need | pacif island member help us |
| countri | imf support pacif island bilater | countri | engag includ surveil program like |
| countri | resid repres offic pacif island | countri | base suva better serv member |
| polici | suva better serv member bring | polici | advic closer countri regular time |
| countri | member bring polici advic closer | countri | regular time basi also establish |
| also | closer countri regular time basi | also | establish new pacif island unit |
| countri | pacif island increas synergi across | countri | team increas awar within imf |
| polici | increas awar within imf main | polici | issu pacif island face cours |
| countri | cours toolkit imf facil help | countri | face balanc payment problem imf |
| financ | problem imf work member extern | financ | need provid loan bridg temporari |
| need | imf work member extern financ | need | provid loan bridg temporari financ |
| financ | need provid loan bridg temporari | financ | gap also work member borrow |
| also | loan bridg temporari financ gap | also | work member borrow design adjust |
| countri | treasuri bill rate major industri | countri | subsid zerointerest rate financ avail |
| financ | industri countri subsid zerointerest rate | financ | avail lowerincom pacif island member |
| countri | technic assist train pacif island | countri | almost year proud help countri |
| countri | countri almost year proud help | countri | achiev great improv econom manag |
| econom | help countri achiev great improv | econom | manag pftac first imf region |
| countri | world eight differ center cover | countri | look expand yet pftac also |
| also | countri look expand yet pftac | also | expand support make avail region |
| also | european union korea new zealand | also | would like stress increas synergi |
| countri | like reiter listen view learn | countri | reason confer serv better member |
| countri | reason confer serv better member | countri | thank attent wish stimul fruit |
| also | research center state council would | also | like pay tribut chair today |
| econom | believ anyth possibl refresh chang | econom | difficulti still loom around world |
| global | loom around world fortun visit | global | circumst littl comfort last novemb |
| economi | novemb refer dark cloud world | economi | today sign cloud may begin |
| polici | may begin dispers sign strong | polici | action especi europ make differ |
| market | especi europ make differ financi | market | becom littl calmer recent indic |
| econom | recent indic point uptick real | econom | activ most unit state yet |
| also | activ most unit state yet | also | need remain cautious luu mengzheng |
| need | most unit state yet also | need | remain cautious luu mengzheng said |
| global | one fortun may chang even | global | economi yet danger zone financi |
| economi | fortun may chang even global | economi | yet danger zone financi system |
| economi | threat could derail recoveri advanc | economi | european advanc economi particular remain |
| economi | recoveri advanc economi european advanc | economi | particular remain epicent mani pressur |
| polici | epicent mani pressur clear right | polici | path must push ahead without |
| economi | without delay diffid howev emerg | economi | particular global growth leader like |
| global | diffid howev emerg economi particular | global | growth leader like china also |
| growth | howev emerg economi particular global | growth | leader like china also special |
| also | global growth leader like china | also | special respons far immun weak |
| economi | far immun weak among advanc | economi | possibl slower growth medium term |
| growth | among advanc economi possibl slower | growth | medium term emerg economi anoth |
| economi | slower growth medium term emerg | economi | anoth sourc risk global recoveri |
| global | emerg economi anoth sourc risk | global | recoveri emerg market continu prosper |
| market | sourc risk global recoveri emerg | market | continu prosper help keep global |
| global | market continu prosper help keep | global | economi afloat depth crisi must |
| economi | continu prosper help keep global | economi | afloat depth crisi must act |
| global | depth crisi must act interest | global | interest dare think bad global |
| global | global interest dare think bad | global | situat might china powerhous yet |
| also | situat might china powerhous yet | also | make wonder china achiev chines |
| global | wonder china achiev chines peopl | global | econom leader feel best yet |
| econom | china achiev chines peopl global | econom | leader feel best yet come |
| economi | world fact exact astonish chines | economi | achiev remark transform span three |
| economi | decad becom world second largest | economi | involv grow averag percent year |
| also | size everi seven eight year | also | result fold increas per capita |
| economi | vision farsight strategi open chines | economi | develop deeper global trade invest |
| global | open chines economi develop deeper | global | trade invest tie connect rest |
| countri | hard work chines peopl mani | countri | embark multiyear reform agenda wisdom |
| polici | china approach offer guidanc us | polici | measur necessarili vari countri countri |
| countri | us polici measur necessarili vari | countri | countri effort behind must navig |
| countri | polici measur necessarili vari countri | countri | effort behind must navig crisisthi |
| global | second point china effect navig | global | crisi crisi hit china demonstr |
| polici | crisi crisi hit china demonstr | polici | commit leadership yet deft combat |
| need | enviabl posit abl provid much | need | lifelin global growth assum greater |
| global | abl provid much need lifelin | global | growth assum greater role develop |
| growth | provid much need lifelin global | growth | assum greater role develop partner |
| countri | greater role develop partner lowincom | countri | china global leadership commensur econom |
| global | develop partner lowincom countri china | global | leadership commensur econom success shone |
| econom | countri china global leadership commensur | econom | success shone even though china |
| economi | success shone even though china | economi | slow somewhat may bad thing |
| growth | bad thing decis refocus level | growth | qualiti growth benefit entir popul |
| growth | decis refocus level growth qualiti | growth | benefit entir popul note premier |
| global | futur china yet come weak | global | environ intensifi focus insid outsid |
| need | intensifi focus insid outsid china | need | acceler effort transform china econom |
| econom | need acceler effort transform china | econom | model seen import progress front |
| global | balanc come consider reflect weaker | global | demand worsen china term trade |
| need | high level invest domest consumpt | need | assum even larger role drive |
| growth | assum even larger role drive | growth | need happen sooner rather later |
| need | even larger role drive growth | need | happen sooner rather later tension |
| growth | sooner rather later tension current | growth | path becom increas evid context |
| growth | emphas object shift toward consumptionl | growth | point premier wen recent also |
| also | growth point premier wen recent | also | underscor import export investmentori growth |
| growth | also underscor import export investmentori | growth | may catapult china today suffici |
| polici | chines peopl true social stabil | polici | prioriti need propel china forward |
| need | true social stabil polici prioriti | need | propel china forward journey let |
| econom | dimens conclusionth grow footprint china | econom | progress global influenc unmistak china |
| global | grow footprint china econom progress | global | influenc unmistak china increas role |
| countri | zhu senior chines nation imf | countri | struggl overcom crisi get back |
| growth | overcom crisi get back solid | growth | path china stand symbol accomplish |
| polici | china progress applaud mani good | polici | action behind progress look ahead |
| polici | behind progress look ahead action | polici | underway today provid key prosper |
| polici | proverbso hope current plan farreach | polici | reform secur chines prosper leadership |
| global | desir reflect import china becom | global | economi great privileg among esteem |
| economi | reflect import china becom global | economi | great privileg among esteem compani |
| also | privileg among esteem compani would | also | like thank li wei colleagu |
| econom | today china world macroeconom stabil | econom | restructur junctur cannot think better |
| econom | better theme year forum specif | econom | challeng countri face today natur |
| countri | year forum specif econom challeng | countri | face today natur differ posit |
| growth | common goal unit us quest | growth | stabil last growth share growth |
| growth | us quest growth stabil last | growth | share growth growth deliv job |
| growth | growth stabil last growth share | growth | growth deliv job better livelihood |
| growth | stabil last growth share growth | growth | deliv job better livelihood event |
| global | china play continu play pursu | global | goal much look forward hear |
| global | briefli two thing first state | global | economi second china lead role |
| economi | two thing first state global | economi | second china lead role secur |
| econom | second china lead role secur | econom | stabil prosper global econom challengesth |
| global | role secur econom stabil prosper | global | econom challengesth past year extrem |
| econom | secur econom stabil prosper global | econom | challengesth past year extrem difficult |
| polici | today see sign stabil sign | polici | action pay financialmarket condit comfort |
| econom | pay financialmarket condit comfort recent | econom | indic begin look littl upbeat |
| polici | includ unit state import decis | polici | action particular european central bank |
| countri | particular european central bank european | countri | help said time avoid worst |
| economi | forward back collect effort world | economi | step back brink caus optimist |
| econom | fals sens secur still major | econom | financi vulner must confront ll |
| countri | forget still mani peopl mani | countri | endur hardship unemploy global economi |
| global | mani countri endur hardship unemploy | global | economi may path recoveri great |
| economi | countri endur hardship unemploy global | economi | may path recoveri great deal |
| polici | great deal room maneuv room | polici | mistak often said reput gain |
| econom | inch lost mile could said | econom | progress countri must persever polici |
| countri | mile could said econom progress | countri | must persever polici effort progress |
| polici | econom progress countri must persever | polici | effort progress yesterday translat promis |
| global | leadershipthi bring second point china | global | leadership mani year china econom |
| econom | global leadership mani year china | econom | success captur world attent look |
| growth | year year china post spectacular | growth | space three decad creat million |
| global | lift half billion peopl poverti | global | crisi hit china show leadership |
| polici | hit china show leadership adept | polici | skill inde global econom situat |
| global | leadership adept polici skill inde | global | econom situat might even calamit |
| econom | adept polici skill inde global | econom | situat might even calamit impetus |
| growth | even calamit impetus china provid | growth | stabil china leadership role global |
| global | growth stabil china leadership role | global | institut mirror econom success one |
| econom | leadership role global institut mirror | econom | success one imf largest sharehold |
| global | g china instrument help make | global | econom system less prone damag |
| econom | china instrument help make global | econom | system less prone damag crise |
| global | damag crise yet linger weak | global | outlook reinforc import china continu |
| global | forg ahead maintain promin role | global | polici discuss sustain effort acceler |
| polici | ahead maintain promin role global | polici | discuss sustain effort acceler transform |
| economi | sustain effort acceler transform chines | economi | see prioriti china threefold encourag |
| polici | govern embrac goal reflect comprehens | polici | agenda recent th five year |
| global | europ today risk still much | global | interconnect affect polici action need |
| polici | still much global interconnect affect | polici | action need prepar success togeth |
| need | global interconnect affect polici action | need | prepar success togeth stand togeth |
| global | whole sum part china leader | global | economi lead exampl lead respons |
| economi | sum part china leader global | economi | lead exampl lead respons econom |
| econom | economi lead exampl lead respons | econom | polici lead engag thank |
| polici | lead exampl lead respons econom | polici | lead engag thank |
| econom | today discuss complex relationship | econom | growth fiscal polici complex relationship |
| growth | today discuss complex relationship econom | growth | fiscal polici complex relationship involv |
| polici | complex relationship econom growth fiscal | polici | complex relationship involv various kind |
| countri | issu extrem import policymak advanc | countri | fiscal polici critic implic econom |
| polici | import policymak advanc countri fiscal | polici | critic implic econom growth short |
| econom | countri fiscal polici critic implic | econom | growth short long run time |
| growth | fiscal polici critic implic econom | growth | short long run time strong |
| growth | short long run time strong | growth | great facilit fiscal adjust short |
| countri | long run fiscal adjust advanc | countri | need come year public debt |
| need | run fiscal adjust advanc countri | need | come year public debt gdp |
| need | last year navig complex interact | need | map map present discuss first |
| growth | present discuss first shortterm interact | growth | fiscal polici look longer term |
| polici | first shortterm interact growth fiscal | polici | look longer term interact draw |
| polici | longer term interact draw case | polici | conclus let start short run |
| growth | run see fiscal tighten affect | growth | two main channel first aris |
| countri | fiscal crisi fiscal crise hit | countri | poor fiscal account recent europ |
| econom | view fiscal tighten lead slow | econom | activ know other argu expansionari |
| polici | inde case sharp tighten fiscal | polici | accompani fiscal expans howev recent |
| polici | absenc independ exchang rate monetari | polici | case euro area countri exampl |
| countri | monetari polici case euro area | countri | exampl fiscal consolid like accompani |
| econom | fiscal consolid like accompani lower | econom | growth even independ monetari polici |
| growth | consolid like accompani lower econom | growth | even independ monetari polici recent |
| polici | econom growth even independ monetari | polici | recent work done imf chapter |
| econom | imf chapter iii fall world | econom | outlook imf show fiscal multipli |
| economi | potenti current case mani advanc | economi | may note two channel oper |
| growth | impli enough tighten could bad | growth | second impli much tighten bad |
| growth | second impli much tighten bad | growth | suggest need balanc effect fiscal |
| need | much tighten bad growth suggest | need | balanc effect fiscal polici must |
| polici | suggest need balanc effect fiscal | polici | must right howev one could |
| econom | one could argu shortterm deceler | econom | activ price pay strengthen public |
| financ | activ price pay strengthen public | financ | therefor avoid even bigger problem |
| growth | problem later thing simpl feedback | growth | fiscal account three channel particular |
| growth | first one standard one deceler | growth | reduc tax revenu increas spend |
| polici | automat stabil impli tighten fiscal | polici | one percent gdp actual improv |
| countri | fiscal multipli chart illustr various | countri | relationship discretionari tighten actual declin |
| countri | initi discretionari tighten averag advanc | countri | one percentag point gdp reduct |
| polici | ratio like rise year fiscal | polici | tighten fiscal multipli high initi |
| polici | debt high reason tighten fiscal | polici | debt numer ratio declin declin |
| also | high moreov gdp denomin ratio | also | declin declin fiscal multipli high |
| polici | yield increas debt ratio fiscal | polici | tighten like happen debt ratio |
| market | move perman low level financi | market | focus behavior short run debt |
| growth | rise debt ratio third feedback | growth | fiscal account aris market may |
| market | feedback growth fiscal account aris | market | may get worri deceler growth |
| growth | market may get worri deceler | growth | given certain debt deficit ratio |
| growth | certain debt deficit ratio high | growth | countri typic pay low interest |
| countri | debt deficit ratio high growth | countri | typic pay low interest rate |
| countri | typic pay low interest rate | countri | seen abl grow debt confirm |
| growth | confirm chart cds spread plot | growth | rate year focus shortterm growth |
| growth | growth rate year focus shortterm | growth | somewhat puzzl principl longterm potenti |
| growth | somewhat puzzl principl longterm potenti | growth | affect fiscal sustain shortterm growth |
| growth | growth affect fiscal sustain shortterm | growth | yet clear relationship spread longterm |
| growth | yet clear relationship spread longterm | growth | focus shortterm growth could howev |
| growth | spread longterm growth focus shortterm | growth | could howev explain polit economi |
| economi | growth could howev explain polit | economi | consider market believ countri gdp |
| market | howev explain polit economi consider | market | believ countri gdp declin lot |
| countri | polit economi consider market believ | countri | gdp declin lot would sustain |
| growth | time found evid effect shortterm | growth | interest rate public debt econometr |
| growth | spread higher debt increas spread | growth | enter non linear way nonlinear |
| growth | specif sign coeffici impli lower | growth | increas spread increas per unit |
| growth | increas per unit tighten larger | growth | declin market get increas worri |
| market | unit tighten larger growth declin | market | get increas worri growth enter |
| growth | declin market get increas worri | growth | enter lowneg territori variabl regress |
| growth | let focus interact fiscal tighten | growth | spread deriv equat chart slide |
| polici | ratio may increas tighten fiscal | polici | fact lower growth accompani higher |
| growth | tighten fiscal polici fact lower | growth | accompani higher spread see fiscal |
| polici | possibl increas interest rate fiscal | polici | tighten problem sustain fiscal adjust |
| also | higher interest rate increas deficit | also | key polit economi reason pain |
| economi | increas deficit also key polit | economi | reason pain fiscal tighten accompani |
| market | evid work adjust easili sustain | market | reward effort resolv govern carri |
| polici | carri fiscal adjust may undermin | polici | implic way fiscal adjust conduct |
| polici | conduct aris complex interact fiscal | polici | growth first countri pressur fiscal |
| growth | aris complex interact fiscal polici | growth | first countri pressur fiscal space |
| countri | interact fiscal polici growth first | countri | pressur fiscal space decid pace |
| also | space decid pace fiscal adjust | also | light cyclic consider said insuffici |
| countri | adjust mistaken lack fiscal commit | countri | defin clear mediumterm adjust plan |
| financ | adjust plan anchor evolut public | financ | medium term countri done two |
| countri | evolut public financ medium term | countri | done two largest advanc economi |
| economi | countri done two largest advanc | economi | unit state japan third countri |
| countri | economi unit state japan third | countri | pressur undertak inde undertak frontload |
| financ | number reason rang lack adequ | financ | reason rate polit constraint even |
| growth | one key reason feedback loop | growth | fiscal tighten mention earlier frontload |
| growth | frontload fiscal adjust accompani declin | growth | interest rate may declin need |
| need | growth interest rate may declin | need | complement fiscal adjust avail adequ |
| financ | complement fiscal adjust avail adequ | financ | keep interest rate effect adjust |
| need | account materi context argu europ | need | put place stronger firewal let |
| growth | let us move longterm interact | growth | fiscal polici fiscal polici key |
| polici | move longterm interact growth fiscal | polici | fiscal polici key implic potenti |
| polici | interact growth fiscal polici fiscal | polici | key implic potenti growth oper |
| growth | fiscal polici key implic potenti | growth | oper macro micro channel let |
| growth | effect high public debt potenti | growth | includ work carmen reinhart ken |
| growth | higher public debt lower potenti | growth | chart slide report much gdp |
| growth | chart slide report much gdp | growth | would declin public debt increas |
| growth | debt gdp ratio lower potenti | growth | percent differ potenti growth debt |
| growth | potenti growth percent differ potenti | growth | debt ratio percent gdp debt |
| growth | show high debt accompani lower | growth | usual crowd effect privat invest |
| growth | invest would lower henc product | growth | would lower itali japan two |
| growth | itali japan two high debtlow | growth | countri good exampl kind effect |
| countri | japan two high debtlow growth | countri | good exampl kind effect look |
| countri | caus concern share gdp produc | countri | high debt increas percent percent |
| countri | increas percent percent suggest advanc | countri | grow less debt brought medium |
| polici | turn call micro effect fiscal | polici | growth mean way presenc public |
| growth | call micro effect fiscal polici | growth | mean way presenc public sector |
| economi | way presenc public sector felt | economi | beyond macro balanc deficit debt |
| econom | take place affect invest employ | econom | effici growth issu complic involv |
| growth | affect invest employ econom effici | growth | issu complic involv tradeoff exampl |
| polici | complic involv tradeoff exampl public | polici | tend less distort enhanc econom |
| econom | polici tend less distort enhanc | econom | effici may also conduc equit |
| also | distort enhanc econom effici may | also | conduc equit incom distribut mani |
| growth | equit incom distribut mani believ | growth | benefit sustain exampl develop middl |
| growth | look imf start view revenu | growth | move spend side first overal |
| econom | rate alreadi high continent europ | econom | growth would benefit lower time |
| growth | alreadi high continent europ econom | growth | would benefit lower time argu |
| countri | would benefit lower time argu | countri | relat low like japan unit |
| also | would requir cut nonproduct spend | also | product spend inde recent paper |
| need | spend side less success adjust | need | larg second come composit revenu |
| countri | tax incom particular recent argu | countri | face competit problem benefit shift |
| growth | devalu time argu effect longterm | growth | come switch overestim like larg |
| econom | treatment certain sector activ distort | econom | choic particular issu rais repeat |
| polici | line equiti legitim goal fiscal | polici | one mention could perhap enhanc |
| growth | mention could perhap enhanc longterm | growth | howev good percentag incom consum |
| also | revenu way allow reduct deficit | also | increas support poor target spend |
| also | evas someth import equiti perspect | also | way reduc distort activ evas |
| growth | effect better structur taxat potenti | growth | comput would possibl rais revenu |
| countri | gdp least three averag advanc | countri | combin cut tax expenditur externalityreduc |
| growth | across board conduc durabl adjust | growth | spend review done exampl unit |
| countri | cut proper spend mix would | countri | specif includ assess right level |
| polici | subject particular scrutini includ fiscal | polici | import growth growth even import |
| growth | scrutini includ fiscal polici import | growth | growth even import fiscal sustain |
| growth | includ fiscal polici import growth | growth | even import fiscal sustain link |
| growth | continu time report slide slide | growth | erod debt gdp ratio key |
| need | debtstabil primari surplus find primari | need | maintain decreas function growth rate |
| growth | primari need maintain decreas function | growth | rate would like underscor growth |
| growth | growth rate would like underscor | growth | particular import high debt countri |
| countri | growth particular import high debt | countri | enter equat multipli initi debt |
| growth | one percentag point declin potenti | growth | function debt level exampl debt |
| growth | gdp one point loss potenti | growth | requir increas primari balanc percentag |
| growth | howev underestim larg effect strong | growth | debt sustain reason primari balanc |
| growth | sustain reason primari balanc affect | growth | cours obvious shortterm perspect alreadi |
| also | perspect alreadi discuss seem true | also | longer run strong theoret reason |
| growth | percent gdp posit correl potenti | growth | yet empir seem case illustr |
| growth | observ year period correspond averag | growth | rate period relationship clear posit |
| growth | period relationship clear posit stronger | growth | associ stronger primari balanc possibl |
| growth | possibl spend adjust slowli stronger | growth | rate impli link fiscal sustain |
| growth | rate impli link fiscal sustain | growth | stronger may think incorpor effect |
| growth | stronger may think incorpor effect | growth | primari balanc reflect regress slope |
| growth | slope slide find relationship increas | growth | need discretionari fiscal action longer |
| need | slide find relationship increas growth | need | discretionari fiscal action longer describ |
| growth | ratio percent one percent increas | growth | lower primari fiscal need percent |
| need | increas growth lower primari fiscal | need | percent gdp one percent gdp |
| countri | gdp one percent gdp inde | countri | manag save addit revenu come |
| growth | save addit revenu come stronger | growth | fiscal adjust process need advanc |
| need | stronger growth fiscal adjust process | need | advanc countri would great facilit |
| countri | fiscal adjust process need advanc | countri | would great facilit exampl countri |
| countri | countri would great facilit exampl | countri | start debt ratio percent tax |
| countri | tax gdp ratio percent mani | countri | europ would lower debt almost |
| growth | debt almost percentag point year | growth | increas singl percentag point theori |
| econom | adjust rare occur without healthi | econom | growth postworldwarii period identifi episod |
| growth | rare occur without healthi econom | growth | postworldwarii period identifi episod debtgdp |
| economi | debtgdp ratio continu reduc advanc | economi | least percent gdp cumul one |
| growth | case itali occur real gdp | growth | percent growth simpli matter denomin |
| growth | occur real gdp growth percent | growth | simpli matter denomin debt ratio |
| growth | simpli matter denomin debt ratio | growth | also impact govern abil deliv |
| also | matter denomin debt ratio growth | also | impact govern abil deliv last |
| econom | fiscal posit even control state | econom | cycl postwar era instanc advanc |
| economi | cycl postwar era instanc advanc | economi | improv cyclic adjust primari fiscal |
| growth | continu three year hand occur | growth | percent let conclud look polici |
| polici | growth percent let conclud look | polici | implic complex relationship fiscal polici |
| polici | polici implic complex relationship fiscal | polici | longterm growth would underscor follow |
| growth | complex relationship fiscal polici longterm | growth | would underscor follow first stabil |
| growth | postcrisi level would penal potenti | growth | need lower public debt time |
| need | level would penal potenti growth | need | lower public debt time second |
| growth | debt time second strong mediumterm | growth | critic success fiscal adjust process |
| market | mean reform good servic labor | market | import also tool support fiscal |
| also | good servic labor market import | also | tool support fiscal adjust process |
| countri | fiscal reform implement fiscal adjust | countri | need take account implic econom |
| need | reform implement fiscal adjust countri | need | take account implic econom effici |
| econom | countri need take account implic | econom | effici measur equal good revenu |
| need | measur equal good revenu side | need | reduc tax expenditur fight evas |
| growth | start equiti consider cannot disregard | growth | benefit sustain fourth bring togeth |
| growth | optimist vein deep link potenti | growth | fiscal polici allow initi virtuous |
| polici | deep link potenti growth fiscal | polici | allow initi virtuous circl progrowth |
| growth | structur reform lower debt boost | growth | latter facilit fiscal adjust virtuous |
| countri | best known surveil program work | countri | much fore moment cours less |
| also | moment cours less well known | also | advis govern provid technic assist |
| polici | request mani area includ tax | polici | administr last two year fiscal |
| polici | fiscal affair depart deliv tax | polici | revenu administr mission member countri |
| countri | polici revenu administr mission member | countri | headquart oversaw eight region assist |
| countri | technic assist low middl incom | countri | respons crise support longer term |
| countri | find demand advic increas advanc | countri | particular europ advic span wide |
| growth | pollut order rais revenu support | growth | further author equiti object promot |
| polici | lesson learn work reform tax | polici | highlight six lesson first lesson |
| polici | understand support crucial success tax | polici | reform usual creat winner loser |
| financ | differ success failur iceland minist | financ | height crisi success champion reform |
| financ | part dynam minist deputi minist | financ | transpar also play import role |
| also | minist deputi minist financ transpar | also | play import role stimul public |
| countri | debat scrutini exampl encourag assist | countri | quantifi revenu loss tax expenditur |
| polici | subject tax expenditur scrutini spend | polici | need better area stress restrict |
| need | tax expenditur scrutini spend polici | need | better area stress restrict lower |
| economi | area stress restrict lower incom | economi | second lesson good tax administr |
| polici | good tax administr good tax | polici | success tax polici design must |
| polici | good tax polici success tax | polici | design must recogn administr capac |
| countri | constraint bite particular fragil postconflict | countri | advic focus initi collect revenu |
| polici | multiyear effort get basic right | polici | maker recogn revers causat simpl |
| polici | opportun noncompli third lesson tax | polici | make often law second best |
| polici | often tenth best success tax | polici | reform must recogn administr capac |
| also | reform must recogn administr capac | also | tailor broad countri circumst impli |
| countri | administr capac also tailor broad | countri | circumst impli must sometim compromis |
| countri | tax rate boost revenu mani | countri | base broaden may feasibl short |
| market | contribut excess leverag u hous | market | yet despit numer commiss recommend |
| need | abolit progress made instead revenu | need | larg countri tend increas tax |
| countri | made instead revenu need larg | countri | tend increas tax rate despit |
| econom | tax rate despit concern effect | econom | activ u k recent chose |
| polici | best reform hard implement tax | polici | advis practition must recogn constraint |
| polici | appropri reform china excel tax | polici | make capac author alway eager |
| countri | measur stagger time answer depend | countri | implement capac abolit mortgag interest |
| economi | big bang chanc success polit | economi | ground polit window tax reform |
| econom | circumst polit constraint may outweigh | econom | argument gradual approach slovak republ |
| countri | neighbor design tax system neighbor | countri | increas power influenc tax design |
| global | power influenc tax design forc | global | intensifi tax competit pressur provid |
| polici | tax competit pressur provid tax | polici | technic assist caribbean countri instanc |
| countri | tax polici technic assist caribbean | countri | instanc countri use low effect |
| countri | technic assist caribbean countri instanc | countri | use low effect tax rate |
| financ | group recent notabl success minist | financ | agre declar good practic grant |
| polici | sixth final lesson strong tax | polici | make requir strong institut topic |
| countri | tax policymak capac low mani | countri | sometim shock relat larg countri |
| countri | countri sometim shock relat larg | countri | increas focus develop tax polici |
| polici | countri increas focus develop tax | polici | train core element technic assist |
| polici | usual requir strong special tax | polici | function within govern experi logic |
| financ | govern experi logic locat ministri | financ | although close cooper tax author |
| countri | cooper tax author vital lowincom | countri | scarciti well train staff constraint |
| polici | grown time clear strong tax | polici | unit cannot panacea weak polit |
| polici | ineffici tax administr howev tax | polici | unit help govern resist opportunist |
| polici | reform strategi conclud experi tax | polici | advic center bridg gap optim |
| polici | bridg gap optim feasibl tax | polici | mission place purist also import |
| also | tax polici mission place purist | also | import acknowledg rare quick win |
| polici | rare quick win said strong | polici | requir strong institut well transpar |
| countri | time establish could cite exampl | countri | everi region world despit larg |
| also | remain fix law natur could | also | cite enough exampl countri succeed |
| countri | could also cite enough exampl | countri | succeed reform tax system canada |
| polici | vietnam remain optimist good tax | polici | make aliv well certain need |
| need | polici make aliv well certain | need | plenti optim year come thank |
| econom | rest confer martinelli tommasi sequenc | econom | reform presenc polit constraint econom |
| econom | econom reform presenc polit constraint | econom | polit volum |
| polici | deliverypleas let welcom confer macroprudenti | polici | achiev financi stabil cohost central |
| polici | pleas see distinguish group experienc | polici | maker latin america also unit |
| also | experienc polici maker latin america | also | unit state unit kingdom korea |
| also | kingdom korea new zealand let | also | welcom distinguish former offici bank |
| global | confer take place challeng moment | global | economi talk today want discuss |
| economi | take place challeng moment global | economi | talk today want discuss fund |
| global | want discuss fund see current | global | environ like remain sourc uncertainti |
| polici | question outlook rais implement macroprudenti | polici | current global environmentfirst let explain |
| global | rais implement macroprudenti polici current | global | environmentfirst let explain view current |
| global | environmentfirst let explain view current | global | environ project global growth slow |
| global | view current global environ project | global | growth slow  ¼ percent |
| growth | current global environ project global | growth | slow  ¼ percent mark |
| economi | enter mild recess major advanc | economi | face prospect weak bumpi growth |
| growth | economi face prospect weak bumpi | growth | u recoveri like remain tepid |
| growth | like remain tepid even though | growth | acceler q recent flow data |
| growth | q recent flow data posit | growth | also moder emerg economi high |
| also | recent flow data posit growth | also | moder emerg economi high level |
| economi | posit growth also moder emerg | economi | high level unit state downsid |
| polici | risk domin key messag monetari | polici | remain support fiscal plan attun |
| polici | fiscal plan attun cycl agre | polici | measur introduc heal labor hous |
| market | measur introduc heal labor hous | market | downsid risk short medium term |
| growth | present upward potenti household incom | growth | howev also key downsid domest |
| also | potenti household incom growth howev | also | key downsid domest risk stem |
| market | downsid domest risk stem hous | market | fiscal polici hous price could |
| polici | risk stem hous market fiscal | polici | hous price could fall hurt |
| also | gap stabl inflat expect fed | also | continu program extend matur secur |
| econom | deficit rapid avoid undermin u | econom | recoveri fiscal polici could becom |
| polici | undermin u econom recoveri fiscal | polici | could becom contractionari simultan expir |
| need | state whether mediumterm adjust agre | need | come spend cut higher tax |
| market | refinanc oper prove instrument calm | market | fear european bank would unabl |
| need | would unabl satisfi rollov fund | need | strategi greec articul gradual restor |
| growth | strategi greec articul gradual restor | growth | secur improv debt sustain past |
| econom | project decemb review program challeng | econom | polit climat cours much work |
| need | polit climat cours much work | need | done privat creditor agre consider |
| econom | productivityenhanc structur reform essenti restor | econom | growth achiev fiscal sustain cours |
| growth | structur reform essenti restor econom | growth | achiev fiscal sustain cours success |
| polici | strategi crucial hing full time | polici | implement longterm support euro area |
| need | support euro area member state | need | recogn challeng remain massiv given |
| financ | given greec huge debt larg | financ | need weak competit growth import |
| need | greec huge debt larg financ | need | weak competit growth import europ |
| growth | larg financ need weak competit | growth | import europ adjust polici mix |
| polici | competit growth import europ adjust | polici | mix provid stronger support growth |
| growth | polici mix provid stronger support | growth | decreas inflationari pressur scope eas |
| polici | inflationari pressur scope eas monetari | polici | given persist market tension ecb |
| market | eas monetari polici given persist | market | tension ecb hesit use unconvent |
| polici | ecb hesit use unconvent monetari | polici | also countri market pressur allow |
| also | hesit use unconvent monetari polici | also | countri market pressur allow full |
| countri | use unconvent monetari polici also | countri | market pressur allow full play |
| market | unconvent monetari polici also countri | market | pressur allow full play automat |
| countri | allow full play automat stabil | countri | fiscal space reconsid pace fiscal |
| polici | fiscal adjust medium term demand | polici | need support growthenhanc structur reform |
| need | adjust medium term demand polici | need | support growthenhanc structur reform especi |
| market | structur reform especi improv labor | market | effici competit anoth critic step |
| also | timet make mechan oper bank | also | need achiev agre capit buffer |
| need | make mechan oper bank also | need | achiev agre capit buffer ideal |
| growth | privat solut manner curtail credit | growth | broad anchor confid european project |
| countri | silent share fiscal risk across | countri | along line euro area need |
| need | countri along line euro area | need | move toward closer financi integr |
| economi | author common backstop final chines | economi | bright spot global growth undergo |
| global | final chines economi bright spot | global | growth undergo modest deceler baselin |
| growth | chines economi bright spot global | growth | undergo modest deceler baselin scenario |
| growth | deceler baselin scenario real gdp | growth | china expect fall  ¼ |
| polici | slow consumpt remain strong monetari | polici | eas inflat remain manag china |
| global | percent china total export collaps | global | demand would impact negat chines |
| economi | china clear decoupl fortun advanc | economi | recal global growth drop  |
| global | decoupl fortun advanc economi recal | global | growth drop  ½ percentag |
| growth | fortun advanc economi recal global | growth | drop  ½ percentag point |
| growth | Â ½ percentag point lehman | growth | china fell percentag point even |
| also | credit fiscal stimulus packag implement | also | estim crisi describ europ unfold |
| growth | crisi describ europ unfold chines | growth | could absenc polici respons fall |
| polici | unfold chines growth could absenc | polici | respons fall percentag point relat |
| polici | downsid scenario howev china still | polici | space respond welldesign packag could |
| growth | mitig fulli offset negat impact | growth | frontload fiscal measur around percent |
| growth | social program could help contain | growth | impact euro area crisi around |
| also | around percentag point gdp would | also | help support much need rebalanc |
| need | would also help support much | need | rebalanc toward privat consumpt howev |
| also | properti price region high creat | also | social concern local govern borrow |
| market | structur financi measur cool properti | market | local govern borrow generat actual |
| growth | actual physic capit help product | growth | let highlight three critic area |
| growth | inflat china inflect point incom | growth | begin period creat upward pressur |
| growth | invest accumul year creat overcapac | growth | model medium run china need |
| need | growth model medium run china | need | switch exportdriven domest consumptiondriven growth |
| growth | need switch exportdriven domest consumptiondriven | growth | help reduc extern imbal well |
| global | imbal well excess invest turn | global | arena would like highlight three |
| global | highlight three challeng first challeng | global | financi deleverag debt level excess |
| need | around globe high debt level | need | come level consist incom debt |
| global | put tabl second challeng excess | global | liquid mani countri resort monetari |
| countri | challeng excess global liquid mani | countri | resort monetari eas sinc littl |
| economi | sinc littl fiscal space left | economi | stimul econom activ result global |
| econom | fiscal space left economi stimul | econom | activ result global liquid surpass |
| global | economi stimul econom activ result | global | liquid surpass excess level observ |
| market | challeng larg capit flow emerg | market | signific stronger growth rate compar |
| growth | flow emerg market signific stronger | growth | rate compar advanc economi lower |
| economi | stronger growth rate compar advanc | economi | lower unemploy rate lower debt |
| market | fiscal monetari buffer moreov emerg | market | produc close half global output |
| global | emerg market produc close half | global | output hold percent global financi |
| global | half global output hold percent | global | financi wealth factor creat last |
| economi | last pressur fund flow emerg | economi | money chase growth profit howev |
| growth | flow emerg economi money chase | growth | profit howev critic flow volatil |
| market | term inde capit flow emerg | market | strong earli flow begun revers |
| countri | period turmoil posit strength mani | countri | place strong polici framework gain |
| polici | strength mani countri place strong | polici | framework gain credibl provid crucial |
| global | provid crucial anchor confid recent | global | turmoil credibl polici framework mani |
| polici | confid recent global turmoil credibl | polici | framework mani countri posit run |
| countri | turmoil credibl polici framework mani | countri | posit run countercycl polici mitig |
| polici | mani countri posit run countercycl | polici | mitig recessionari effect global challeng |
| global | countercycl polici mitig recessionari effect | global | challeng key element credibl polici |
| polici | global challeng key element credibl | polici | framework includ global slowdown affect |
| global | element credibl polici framework includ | global | slowdown affect region extern balanc |
| growth | healthi pace fuel strong credit | growth | despit favor term trade extern |
| countri | extern current account deficit widen | countri | bank increas reli wholesal fund |
| financ | bank increas reli wholesal fund | financ | credit expans although leverag still |
| countri | expect remain relat well anchor | countri | allow countri put monetari polici |
| countri | relat well anchor countri allow | countri | put monetari polici hold period |
| polici | countri allow countri put monetari | polici | hold period global uncertainti result |
| global | put monetari polici hold period | global | uncertainti result global slowdown mark |
| global | hold period global uncertainti result | global | slowdown mark growth project latin |
| growth | uncertainti result global slowdown mark | growth | project latin america  ½ |
| countri | ½ percent slowdown notic integr | countri | south america mexico central america |
| economi | part relat good perform u | economi | slowdown south america welcom help |
| countri | relat presenc european bank individu | countri | also foreign affili fund structur |
| also | presenc european bank individu countri | also | foreign affili fund structur magnitud |
| polici | risk prioriti given reinforc fiscal | polici | buffer strengthen credibl fiscal posit |
| countri | still somewhat weaker crisi mani | countri | gradual consolid continu proceed risk |
| growth | expens social infrastructur spend crucial | growth | monetari polici focus keep inflat |
| polici | infrastructur spend crucial growth monetari | polici | focus keep inflat close target |
| polici | macroprudenti policiesfin let turn macroprudenti | polici | global outlook rais import question |
| global | policiesfin let turn macroprudenti polici | global | outlook rais import question design |
| polici | financi stabil institut implement macroprudenti | polici | credibl way throughout cycl view |
| polici | way throughout cycl view macroprudenti | polici | must deploy wide rang tool |
| countri | tool develop refin alreadi place | countri | region countercycl capit buffer variat |
| countri | restrict foreigncurr lend liquid requir | countri | also need address risk failur |
| also | foreigncurr lend liquid requir countri | also | need address risk failur individu |
| need | lend liquid requir countri also | need | address risk failur individu system |
| polici | capit requir institut recogn macroprudenti | polici | earli stage implement countri need |
| countri | macroprudenti polici earli stage implement | countri | need resolv three crucial issu |
| need | polici earli stage implement countri | need | resolv three crucial issu make |
| polici | resolv three crucial issu make | polici | effect build sound institut framework |
| polici | issu gain solid understand macroprudenti | polici | next day half interest hear |
| polici | macroprudenti tool fund assist develop | polici | framework thank |
| also | contribut mani present discuss particip | also | deserv thank high level confer |
| polici | provid excel opportun address tough | polici | challeng confer except past two |
| growth | second decad takeaway confer question | growth | key driver know macroeconom fundament |
| econom | low inflat fiscal disciplin competit | econom | system name structur reform better |
| need | get fundament right macroeconom gain | need | preserv consolid said think general |
| market | except custom union tackl common | market | implement decis manner closer integr |
| also | frequent describ offer winwin outcom | also | agreement stronger region financi integr |
| need | agreement stronger region financi integr | need | parallel move make financi system |
| market | busi limit scope full common | market | rapid growth mpesa ebank one |
| growth | scope full common market rapid | growth | mpesa ebank one region success |
| need | ebank one region success stori | need | foster growth region financi market |
| growth | region success stori need foster | growth | region financi market ensur sound |
| market | need foster growth region financi | market | ensur sound supervis budget polici |
| polici | market ensur sound supervis budget | polici | clear recognit plan move toward |
| need | plan move toward monetari union | need | preced step ensur sound nation |
| polici | import question subject nation budget | polici | professor collier describ supran disciplin |
| need | currenc area nation govern would | need | subject bind limit fiscal deficit |
| need | today eac area thought clear | need | eac member govern need consult |
| need | clear need eac member govern | need | consult among popul develop eac |
| need | develop eac model model would | need | provid strong central disciplin also |
| also | need provid strong central disciplin | also | recogn import nation differ resourc |
| countri | nation differ resourc rich eac | countri | straightforward task need done care |
| need | rich eac countri straightforward task | need | done care monetari union success |
| need | make earli progress stress care | need | slow monetari exchang rate polici |
| polici | need slow monetari exchang rate | polici | harmon saw clear interest set |
| polici | monetari union progress harmon financi | polici | delink fiscal harmon bring us |
| need | fiscal harmon bring us back | need | decis within communiti pace reform |
| countri | technic analyt support eac member | countri | need area cannot provid standard |
| need | analyt support eac member countri | need | area cannot provid standard model |
| also | dr sezibera kind introduct would | also | like thank eac help organ |
| countri | addit confer session attend meet | countri | author repres civil societi organ |
| countri | time communiti grown three five | countri | applic receiv attest attract one |
| growth | sinc averag per capita incom | growth | eac countri percent compar percent |
| countri | per capita incom growth eac | countri | percent compar percent subsaharan africa |
| countri | decad averag percent said cours | countri | recent experienc higher inflat food |
| countri | foreign direct invest five eac | countri | also strong doubl billion past |
| also | direct invest five eac countri | also | strong doubl billion past decad |
| econom | come minut first let comment | econom | outlook imf recent publish updat |
| growth | africa project see continu strong | growth | baselin forecast subsaharan african economi |
| economi | growth baselin forecast subsaharan african | economi | project keep grow rate close |
| countri | close last year percent number | countri | benefit sharpli rise miner export |
| growth | grow consist faster percent strong | growth | africa reflect sever factor macroeconom |
| market | commod export fastgrow asian emerg | market | economi remain strong becom major |
| economi | export fastgrow asian emerg market | economi | remain strong becom major engin |
| growth | region account two third export | growth | grow african middl class creat |
| market | middl class creat new intern | market | good servic highest grow economi |
| economi | market good servic highest grow | economi | region mount evid fruit growth |
| growth | economi region mount evid fruit | growth | benefit segment popul albeit differ |
| also | area bank communic boost productivitybut | also | concern global prospect weaken downsid |
| global | communic boost productivitybut also concern | global | prospect weaken downsid risk risen |
| global | weaken downsid risk risen sharpli | global | recoveri threaten notabl strain euro |
| growth | area project enter mild recess | growth | percent driven high sovereign borrow |
| polici | slow bank credit tighter fiscal | polici | tax increas expenditur cut weak |
| economi | euro area recoveri project advanc | economi | growth project remain percent rang |
| growth | area recoveri project advanc economi | growth | project remain percent rang percent |
| global | percent risk remain signific downsid | global | backdrop polici implic east african |
| polici | remain signific downsid global backdrop | polici | implic east african countri word |
| countri | backdrop polici implic east african | countri | word global econom context would |
| global | implic east african countri word | global | econom context would like turn |
| econom | east african countri word global | econom | context would like turn back |
| countri | optim pace integr eac includ | countri | combin popul million expans communiti |
| market | balanc prospect benefit larger common | market | greater complex come divers membership |
| countri | membership divers membership challeng ensur | countri | benefit region integr part question |
| growth | region integr part question product | growth | countri benefit rapid product growth |
| countri | integr part question product growth | countri | benefit rapid product growth improv |
| growth | growth countri benefit rapid product | growth | improv live standard readi tackl |
| market | adjust challeng involv membership common | market | connect analysi imf staff show |
| countri | analysi imf staff show gap | countri | experienc rapid product growth tanzania |
| growth | gap countri experienc rapid product | growth | tanzania exampl slower grow countri |
| countri | growth tanzania exampl slower grow | countri | worrisom widen incom gap open |
| countri | widen incom gap open eac | countri | one issu may import nation |
| market | better implement custom union common | market | ambiti reform seem long way |
| countri | trade barrier remain eac member | countri | without truli integr market communiti |
| market | member countri without truli integr | market | communiti like see full benefit |
| market | appropri pace move beyond common | market | monetari union certain good progress |
| market | progress implement custom union common | market | strengthen prospect success monetari union |
| also | prospect success monetari union latter | also | depend crucial achiev converg fiscal |
| polici | achiev converg fiscal debt financi | polici | issu polici harmon ahead monetari |
| polici | fiscal debt financi polici issu | polici | harmon ahead monetari union also |
| also | polici harmon ahead monetari union | also | discuss sever session confer thank |
| need | share experi current tax issu | need | emphasi inde day fiscal polici |
| polici | need emphasi inde day fiscal | polici | heart econom polici debat around |
| econom | inde day fiscal polici heart | econom | polici debat around world updat |
| polici | day fiscal polici heart econom | polici | debat around world updat imf |
| econom | around world updat imf world | econom | outlook fiscal monitor releas last |
| global | last week point one immedi | global | polici challeng address mediumterm fiscal |
| polici | week point one immedi global | polici | challeng address mediumterm fiscal imbal |
| growth | mediumterm fiscal imbal care kill | growth | easi word fiscal monitor downsid |
| polici | monitor downsid risk rise fiscal | polici | walk narrow path mean number |
| countri | walk narrow path mean number | countri | particular advanc economi deficit debt |
| economi | mean number countri particular advanc | economi | deficit debt need brought time |
| need | particular advanc economi deficit debt | need | brought time advanc economi plan |
| economi | debt need brought time advanc | economi | plan signific fiscal adjust year |
| econom | signific fiscal adjust year uncertain | econom | environ advanc economi choic stick |
| economi | year uncertain econom environ advanc | economi | choic stick deficit target year |
| growth | stick deficit target year even | growth | slow avoid tighten let automat |
| need | space reconsid pace nearterm adjust | need | complement credibl mediumterm deficitreduct plan |
| growth | mediumterm deficitreduct plan reform stimul | growth | tax polici import instrument respect |
| polici | plan reform stimul growth tax | polici | import instrument respect wider background |
| countri | first revenu mobilizationthi import issu | countri | use fiscal space fight crisi |
| need | use fiscal space fight crisi | need | rebuild buffer also increas revenu |
| also | fight crisi need rebuild buffer | also | increas revenu financ muchneed infrastructur |
| financ | rebuild buffer also increas revenu | financ | muchneed infrastructur social spend remain |
| countri | key challeng mani emerg lowincom | countri | confer gave us insight differ |
| countri | confer gave us insight differ | countri | experi various way mobil tax |
| polici | various way mobil tax revenu | polici | administr reform includ combat tax |
| countri | evas one size fit clear | countri | much learn experi second inequalityinequ |
| need | experi second inequalityinequ serious concern | need | reflect formul implement tax polici |
| polici | need reflect formul implement tax | polici | import particular protect poor impact |
| also | seek chang tax system advantag | also | import ensur benefit growth fair |
| growth | advantag also import ensur benefit | growth | fair distribut one conclus discuss |
| need | distribut one conclus discuss issu | need | look expenditur polici along tax |
| polici | discuss issu need look expenditur | polici | along tax polici inde twothird |
| polici | look expenditur polici along tax | polici | inde twothird redistribut take place |
| economi | twothird redistribut take place advanc | economi | come govern spend taxat therefor |
| also | protect poorest vulner costeffici way | also | import recogn mani dimens inequ |
| polici | recogn mani dimens inequ fiscal | polici | affect inequ across countri region |
| countri | fiscal polici affect inequ across | countri | region within countri case massiv |
| countri | inequ across countri region within | countri | case massiv intergener inequ result |
| polici | intergener inequ result tax spend | polici | japan instanc age older lifetim |
| financ | like thank cohost japanes ministri | financ | generous support confer annual confer |
| also | similar event next year would | also | like thank staff fiscal affair |
| also | pacif effort make confer possibl | also | thank deleg australia hong kong |
| global | germani play vital role europ | global | economi global stage resolut crisi |
| economi | play vital role europ global | economi | global stage resolut crisi without |
| global | vital role europ global economi | global | stage resolut crisi without germani |
| econom | turn hurt germani euro area | econom | linchpin think suitabl place make |
| econom | futur trepid forebod worri uncertain | econom | prospect dwindl job opportun rise |
| econom | kind futur await children inde | econom | outlook imf releas tomorrow lower |
| growth | outlook imf releas tomorrow lower | growth | forecast part world even lower |
| polici | even lower forecast assum construct | polici | path mean assur mani place |
| econom | high public privat debt hurt | econom | prospect global financi system remain |
| global | privat debt hurt econom prospect | global | financi system remain fragil interconnect |
| market | across border capit flow emerg | market | alreadi drop growth expect slow |
| growth | flow emerg market alreadi drop | growth | expect slow even vibrant part |
| economi | slow even vibrant part world | economi | lowincom countri especi vulner yet |
| countri | vibrant part world economi lowincom | countri | especi vulner yet indulg yet |
| global | bout collect pessim becom someth | global | sport let ask simpl question |
| global | bad would argu fresh wound | global | economi driven instead lack collect |
| economi | would argu fresh wound global | economi | driven instead lack collect determin |
| also | fals start half measur europ | also | instanc unit state debt ceil |
| also | ago heal matter time sometim | also | matter opportun today opportun make |
| countri | moment moment trust cooper break | countri | turn inward moment ultim lead |
| econom | done core messag today although | econom | outlook remain deepli worrisom way |
| polici | would like lay core element | polici | path forward three broad aspect |
| polici | path forward three broad aspect | polici | euro zonei start europ center |
| countri | address new realiti face eurozon | countri | establish crossbord safeti net european |
| countri | effect fiscal disciplin train individu | countri | take tough decis rein fiscal |
| growth | remain done three imper stronger | growth | larger firewal deeper integr first |
| growth | firewal deeper integr first stronger | growth | number dimens euro area economi |
| economi | growth number dimens euro area | economi | slow sharpli inflat alreadi declin |
| growth | year rais debt burden hurt | growth | addit time monetari eas import |
| growth | eas import reduc risk stronger | growth | also mean prevent bank go |
| also | import reduc risk stronger growth | also | mean prevent bank go revers |
| market | revers gear contract credit face | market | pressur solut focus rais capit |
| also | ratio maintain order fund condit | also | imper fiscal polici resort acrosstheboard |
| polici | fund condit also imper fiscal | polici | resort acrosstheboard acrossth contin budgetari |
| countri | add recessionari pressur yes sever | countri | choic tighten public financ sharpli |
| financ | sever countri choic tighten public | financ | sharpli quick true everywher larg |
| economi | tax revenu fall spend rise | economi | weaken certain allow oper fiscal |
| countri | reconsid pace adjust plan year | countri | still much boost competit growth |
| growth | countri still much boost competit | growth | potenti structur reform critic howev |
| growth | sustain depend ultim generat longterm | growth | second need larger firewal without |
| need | ultim generat longterm growth second | need | larger firewal without countri like |
| countri | second need larger firewal without | countri | like itali spain fundament abl |
| financ | potenti forc solvenc crisi abnorm | financ | cost would disastr implic system |
| market | stabil bank fund sovereign debt | market | would also essenti must also |
| also | fund sovereign debt market would | also | essenti must also break vicious |
| also | market would also essenti must | also | break vicious cycl bank hurt |
| market | imbal well addit singl financi | market | cannot reli legal institut framework |
| need | break feedback loop sovereign bank | need | risk share across border bank |
| need | link look ahead monetari union | need | support financi integr form unifi |
| also | deposit insur fund euro area | also | need greater fiscal integr tenabl |
| need | insur fund euro area also | need | greater fiscal integr tenabl seventeen |
| polici | tenabl seventeen complet independ fiscal | polici | sit alongsid one monetari polici |
| polici | polici sit alongsid one monetari | polici | complement fiscal compact area need |
| need | polici complement fiscal compact area | need | form fiscal riskshar would allow |
| econom | riskshar would allow common support | econom | disloc one countri develop cost |
| countri | common support econom disloc one | countri | develop cost fiscal financi crisi |
| financ | crisi entir euro area number | financ | option avail support risk share |
| econom | bond bill propos german council | econom | advisor debt redempt fund polit |
| market | risk share would help convinc | market | futur viabil european econom monetari |
| econom | convinc market futur viabil european | econom | monetari union polici rest worldlet |
| polici | viabil european econom monetari union | polici | rest worldlet turn second broad |
| polici | worldlet turn second broad area | polici | rest world dwelt europ epicent |
| global | epicent current crisi thus key | global | outlook economi least import role |
| economi | crisi thus key global outlook | economi | least import role get better |
| economi | outcom unit state world largest | economi | center global financi system special |
| global | state world largest economi center | global | financi system special respons yes |
| polici | declin remain unaccept high key | polici | prioriti must reliev burden household |
| need | complex current strategi work satisfactorili | need | rethink public debt american policymak |
| need | rethink public debt american policymak | need | find way past partisan impass |
| economi | rais revenu without bring today | economi | bring anoth worrisom tendenc mani |
| polici | tendenc mani quarter view fiscal | polici | moral play profligaci respons polit |
| market | moral play profligaci respons polit | market | commentari often cast term yet |
| market | commentari often cast term yet | market | schizophren fiscal tighten time reward |
| growth | interest rate time recoil impli | growth | slowdown push interest rate reiter |
| growth | term help creat space accommod | growth | today allow slower pace consolid |
| countri | today allow slower pace consolid | countri | region japan way avoid credibl |
| also | public debt year ahead japan | also | need reform rais longterm growth |
| need | debt year ahead japan also | need | reform rais longterm growth countri |
| growth | also need reform rais longterm | growth | countri current account surplus whether |
| countri | need reform rais longterm growth | countri | current account surplus whether advanc |
| also | account surplus whether advanc emerg | also | role play primarili shift domest |
| global | primarili shift domest demand support | global | growth global deficit shrink surplus |
| growth | shift domest demand support global | growth | global deficit shrink surplus shrink |
| global | domest demand support global growth | global | deficit shrink surplus shrink china |
| global | shrink surplus shrink china help | global | economi continu shift growth away |
| economi | surplus shrink china help global | economi | continu shift growth away export |
| growth | help global economi continu shift | growth | away export invest toward consumpt |
| polici | must let financi regul slip | polici | agenda simpli cannot carri financi |
| global | carri financi sector gave us | global | financi crisi need safer stabl |
| need | gave us global financi crisi | need | safer stabl financi system one |
| economi | one serv rather destabil real | economi | policymak made lot progress still |
| need | policymak made lot progress still | need | complet reform agenda ensur new |
| countri | standard implement way consist across | countri | role imflet turn role imf |
| countri | issu clear cooper path mean | countri | must work togeth common diagnosi |
| countri | key role imf lay interdepend | countri | push cooper outcom imf provid |
| also | provid much analysi advic exhort | also | provid financ need convinc must |
| financ | analysi advic exhort also provid | financ | need convinc must step fund |
| need | advic exhort also provid financ | need | convinc must step fund lend |
| also | supplement resourc europ put tabl | also | meet need innoc bystand infect |
| need | europ put tabl also meet | need | innoc bystand infect contagion anywher |
| global | bystand infect contagion anywher world | global | world need global firewal come |
| need | contagion anywher world global world | need | global firewal come year estim |
| global | anywher world global world need | global | firewal come year estim global |
| global | global firewal come year estim | global | potenti financ need trillion play |
| financ | come year estim global potenti | financ | need trillion play part imf |
| need | year estim global potenti financ | need | trillion play part imf would |
| also | consult membership addit resourc imf | also | provid commit mechan lock good |
| polici | provid commit mechan lock good | polici | fund need itali request imf |
| need | mechan lock good polici fund | need | itali request imf monitor polici |
| polici | need itali request imf monitor | polici | good exampl final much loos |
| financ | european bailout let reiter point | financ | member euro area otherwis lend |
| countri | euro area otherwis lend individu | countri | request support make strong polici |
| polici | countri request support make strong | polici | commit said support provid euro |
| countri | said support provid euro area | countri | must anchor clear polici framework |
| polici | area countri must anchor clear | polici | framework entir euro area safeguard |
| financ | role catalyz indefinit replac privat | financ | conclusionlet wrap although know must |
| global | monetari union get everyth right | global | financi crisi start across atlant |
| also | across atlant expos vulner stark | also | understand european feel difficult decis |
| also | difficult decis taken suffici recogn | also | understand frustrat rest world pick |
| countri | problem understand pain felt european | countri | need adjust difficulti share burden |
| need | understand pain felt european countri | need | adjust difficulti share burden way |
| also | share burden way social fair | also | understand feel countri thrifti ask |
| countri | social fair also understand feel | countri | thrifti ask help could manag |
| economi | thrifti ask help could manag | economi | prudent must understand defin moment |
| countri | understand defin moment save one | countri | region save world downward econom |
| econom | countri region save world downward | econom | spiral avoid moment inact insular |
| global | rigid ideolog combin caus collaps | global | demand longer wait wors get |
| econom | solut move forward togeth collect | econom | futur depend germani understand virtu |
| need | togeth servic common good world | need | strong leadership role germani today |
| global | time join us challeng time | global | economi think better place asia |
| economi | join us challeng time global | economi | think better place asia first |
| economi | asia first visit say asia | economi | today strong show great promis |
| economi | key theme start state european | economi | trace implic asia end thought |
| global | thought import revit imfasia relat | global | outlook policieson month ago imf |
| global | policieson month ago imf warn | global | economi enter danger new phase |
| economi | month ago imf warn global | economi | enter danger new phase sad |
| global | longer new remain danger ever | global | level pace econom activ weaken |
| econom | danger ever global level pace | econom | activ weaken although recent indic |
| growth | indic unit state surpris upsid | growth | like continu global econom activ |
| global | surpris upsid growth like continu | global | econom activ general worsen last |
| econom | upsid growth like continu global | econom | activ general worsen last quarter |
| countri | unpreced level mani euro area | countri | bank fund dri euro area |
| growth | restrict lend deleverag threaten push | growth | even reduc forecast publish next |
| polici | way crisi good news know | polici | need busi tri muster financ |
| need | crisi good news know polici | need | busi tri muster financ support |
| financ | polici need busi tri muster | financ | support polici provid polit found |
| polici | busi tri muster financ support | polici | provid polit found good chanc |
| growth | downsid risk build foundat futur | growth | way forward essenti element four |
| growth | credibl pace unduli hurt shortterm | growth | growth sustain adjust sever damag |
| growth | pace unduli hurt shortterm growth | growth | sustain adjust sever damag feedback |
| polici | damag feedback loop requir addit | polici | accommod put capit bank reduc |
| need | leader start outlin inde implement | need | act contain fiscal deficit agre |
| also | move ahead front implement cooper | also | make midcours correct need strengthen |
| need | cooper also make midcours correct | need | strengthen step ensur firepow job |
| market | work europ support effort restor | market | confid rekindl growth ensur integr |
| growth | effort restor market confid rekindl | growth | ensur integr common currenc stake |
| growth | downward spiral collaps confid stagnant | growth | fewer job today interconnect global |
| global | growth fewer job today interconnect | global | economi countri region would immun |
| economi | fewer job today interconnect global | economi | countri region would immun catastroph |
| countri | job today interconnect global economi | countri | region would immun catastroph challeng |
| global | asia asia emerg financi crisi | global | stand strengthen head toward becom |
| econom | strengthen head toward becom largest | econom | region world next two decad |
| economi | two decad current trend asia | economi | larger g half size g |
| global | g half size g center | global | economi truli shift west east |
| economi | half size g center global | economi | truli shift west east said |
| econom | despit rapid grow intraregion trade | econom | rebalanc aftermath global financi crisi |
| global | intraregion trade econom rebalanc aftermath | global | financi crisi asia continu reli |
| economi | suppli asset price sever asian | economi | european bank substanti claim economi |
| economi | economi european bank substanti claim | economi | trade financ could particular affect |
| financ | bank substanti claim economi trade | financ | could particular affect european bank |
| economi | risk policymak asia mitig impact | economi | macro polici front stay cours |
| polici | asia mitig impact economi macro | polici | front stay cours fiscal normal |
| also | within central bank target policymak | also | need make sure bank remain |
| need | central bank target policymak also | need | make sure bank remain liquid |
| also | either bilater chiangmai initi may | also | wish consid imf support includ |
| need | materi forc policymak asia would | need | respond swift respons would includ |
| polici | suffici space aggress eas monetari | polici | might requir cut polici rate |
| polici | monetari polici might requir cut | polici | rate also adopt rang nontradit |
| also | might requir cut polici rate | also | adopt rang nontradit measur includ |
| financ | guarante bank liabil support trade | financ | could also consid asian economi |
| also | liabil support trade financ could | also | consid asian economi could use |
| economi | financ could also consid asian | economi | could use ampl foreign exchang |
| also | arrang longerterm standpoint asian policymak | also | face challeng continu structur reform |
| need | face challeng continu structur reform | need | ensur sustain strong mediumterm growth |
| growth | need ensur sustain strong mediumterm | growth | reform make economi less vulner |
| economi | strong mediumterm growth reform make | economi | less vulner extern shock measur |
| also | vulner extern shock measur would | also | help allevi widen incom inequ |
| growth | inequ region support sustain rebalanc | growth | away invest export toward privat |
| need | financi crisi almost year later | need | decid lesson draw vantag point |
| global | period gave asia resili withstand | global | financi crisi help today particular |
| global | currenc mismatch help asia enter | global | financi crisi posit strength nimbl |
| polici | crisi posit strength nimbl macroeconom | polici | framework gave asian economi room |
| economi | macroeconom polici framework gave asian | economi | room strong countercycl respons global |
| global | economi room strong countercycl respons | global | financi crisi hit region even |
| economi | despit suffer crisi spillov asian | economi | remain commit free trade closer |
| econom | commit free trade closer financi | econom | cooper thus coincid surpris asia |
| global | thus coincid surpris asia led | global | recoveri last three year imf |
| also | recoveri last three year imf | also | learn import lesson asia experi |
| need | particular fund recogn tough measur | need | address deep econom problem condit |
| econom | tough measur need address deep | econom | problem condit accompani program need |
| need | econom problem condit accompani program | need | focus problem hand far conscious |
| polici | conscious import broad social support | polici | propos undertaken import protect vulner |
| econom | work support region interest enhanc | econom | financi surveil crisi prevent strengthen |
| global | financi surveil crisi prevent strengthen | global | financi safeti net econom financi |
| econom | strengthen global financi safeti net | econom | financi surveil global crisi underlin |
| global | safeti net econom financi surveil | global | crisi underlin import look econom |
| econom | global crisi underlin import look | econom | polici condit individu countri global |
| polici | crisi underlin import look econom | polici | condit individu countri global spillov |
| countri | look econom polici condit individu | countri | global spillov countri global financi |
| global | econom polici condit individu countri | global | spillov countri global financi crisi |
| countri | condit individu countri global spillov | countri | global financi crisi also stress |
| global | individu countri global spillov countri | global | financi crisi also stress import |
| also | spillov countri global financi crisi | also | stress import macroprudenti oversight financi |
| polici | amro exampl focus spillov asia | polici | occur elsewher likewis examin global |
| global | polici occur elsewher likewis examin | global | implic polici decis taken asia |
| polici | elsewher likewis examin global implic | polici | decis taken asia spillov report |
| global | launch india japan malaysia australia | global | financi safeti net crisi demonstr |
| countri | revers quick time panic even | countri | sound macroeconom financi condit mani |
| economi | macroeconom financi condit mani asian | economi | develop effect global financi safeti |
| global | mani asian economi develop effect | global | financi safeti net therefor essenti |
| global | net therefor essenti element stabl | global | economi great help asia withstand |
| economi | therefor essenti element stabl global | economi | great help asia withstand risk |
| also | withstand risk new extern shock | also | build experi asian crisi imf |
| need | line pll design meet liquid | need | crisi bystand member countri sound |
| countri | liquid need crisi bystand member | countri | sound econom fundament polici actual |
| econom | crisi bystand member countri sound | econom | fundament polici actual potenti balanc |
| polici | member countri sound econom fundament | polici | actual potenti balanc payment need |
| need | polici actual potenti balanc payment | need | main crisi elsewher world regard |
| also | resourc europ put tackl problem | also | abl meet need innoc bystand |
| need | tackl problem also abl meet | need | innoc bystand around world global |
| global | need innoc bystand around world | global | world need firewal global final |
| need | bystand around world global world | need | firewal global final also work |
| global | world global world need firewal | global | final also work better integr |
| also | world need firewal global final | also | work better integr imf resourc |
| also | say stronger partnership asia imf | also | requir stronger role asia fund |
| econom | role asia fund given rise | econom | powerhous natur asia voic institut |
| economi | percent thank reform three asian | economi | china japan india among largest |
| also | respect asia link imf strengthen | also | select key imf personnel region |
| financ | singapor deputi prime minist minist | financ | tharman shanmugaratnam becam chairman intern |
| economi | role asia bulwark stabil world | economi | well imf grow construct partnership |
| global | conclud stress high uncertain time | global | economi threaten intensifi strain euro |
| economi | stress high uncertain time global | economi | threaten intensifi strain euro area |
| global | fragil elsewher decis measur europ | global | support possibl avoid new phase |
| countri | new phase crisi would spillov | countri | across world includ asia imf |
| econom | achiev object help achiev sustain | econom | growth asia world |
| growth | object help achiev sustain econom | growth | asia world |
| need | make imf effect possibl meet | need | member countri larg small wealthi |
| countri | effect possibl meet need member | countri | larg small wealthi poor alik |
| global | unfortun best circumst challeng time | global | economi entend le fraca des |
| economi | best circumst challeng time global | economi | entend le fraca des arbr |
| need | risk gather niger other region | need | watch care let talk four |
| global | let talk four thing today | global | outlook policiesi said mani time |
| economi | policiesi said mani time world | economi | pois danger phase growth outlook |
| growth | world economi pois danger phase | growth | outlook dim consider recent month |
| market | threat downward spiral confid financi | market | instabl unsustain govern debt togeth |
| growth | debt togeth lead weaker weaker | growth | top unemploy remain unaccept high |
| countri | unemploy remain unaccept high mani | countri | advanc countri euro area center |
| countri | unaccept high mani countri advanc | countri | euro area center crisi must |
| need | solut lose sight bigger pictur | need | restor stabil growth growth produc |
| growth | bigger pictur need restor stabil | growth | growth produc job polici advanc |
| growth | pictur need restor stabil growth | growth | produc job polici advanc economi |
| polici | stabil growth growth produc job | polici | advanc economi need strike appropri |
| economi | growth produc job polici advanc | economi | need strike appropri balanc fiscal |
| need | produc job polici advanc economi | need | strike appropri balanc fiscal monetari |
| polici | strike appropri balanc fiscal monetari | polici | promot growth stabil also mean |
| growth | balanc fiscal monetari polici promot | growth | stabil also mean forg ahead |
| also | monetari polici promot growth stabil | also | mean forg ahead structur polici |
| polici | also mean forg ahead structur | polici | focus squar boost competit growth |
| growth | polici focus squar boost competit | growth | job mean strengthen financi sector |
| growth | financi sector better abl support | growth | jeanpaul sartr said respons much |
| countri | crisi confid grow would affect | countri | region without except implic regionthi |
| global | bring second point might escal | global | risk affect region let first |
| econom | discuss shift shift better good | econom | polici provid platform strong econom |
| polici | shift shift better good econom | polici | provid platform strong econom growth |
| econom | econom polici provid platform strong | econom | growth across region growth averag |
| growth | polici provid platform strong econom | growth | across region growth averag percent |
| growth | strong econom growth across region | growth | averag percent past decad growth |
| growth | growth averag percent past decad | growth | lift million peopl africa abject |
| global | poverti unfortun food fuel crisi | global | financi crisi follow took heavi |
| econom | crisi follow took heavi toll | econom | growth africa declin social consequ |
| growth | follow took heavi toll econom | growth | africa declin social consequ sever |
| countri | african policymak abl respond effect | countri | abl maintain critic spend health |
| countri | health educ infrastructur saw mani | countri | region recov quick return growth |
| growth | countri region recov quick return | growth | rate enjoy mid testament hard |
| economi | short built macroeconom buffer put | economi | fundament stronger foot enabl countri |
| countri | economi fundament stronger foot enabl | countri | maintain critic social infrastructur spend |
| economi | crisi hit latest fallout advanc | economi | test africa resili trade financi |
| economi | trade financi tie critic drive | economi | forward good time iron becom |
| econom | becom linkag spread today escal | econom | risk sustain growth slowdown advanc |
| growth | today escal econom risk sustain | growth | slowdown advanc countri togeth continu |
| countri | risk sustain growth slowdown advanc | countri | togeth continu financi market instabl |
| market | advanc countri togeth continu financi | market | instabl dampen demand africa export |
| also | dampen demand africa export may | also | inhibit privat financ flow remitt |
| financ | export may also inhibit privat | financ | flow remitt possibl aid welcom |
| market | libya potenti greater volatil commod | market | could caus disrupt could see |
| also | see winner loser within region | also | import watch point niger given |
| countri | grow import natur resourc mani | countri | region main worri capac absorb |
| global | would even greater caus concern | global | slowdown turn pronounc time around |
| polici | turn pronounc time around mean | polici | need walk fine line one |
| need | pronounc time around mean polici | need | walk fine line one hand |
| global | one hand defend immedi risk | global | slowdown also preserv budget resourc |
| also | defend immedi risk global slowdown | also | preserv budget resourc invest infrastructur |
| growth | invest infrastructur help promot employ | growth | part policymak need focus restor |
| need | promot employ growth part policymak | need | focus restor fiscal buffer serv |
| polici | serv well last downturn niger | polici | path forwardwhich bring third point |
| also | reform niger help guard risk | also | capit new opportun outset let |
| econom | mine sector provid opportun brighter | econom | futur easi fulli realiz niger |
| econom | futur easi fulli realiz niger | econom | potenti first must contend grow |
| global | potenti first must contend grow | global | risk hard truth relat countri |
| countri | global risk hard truth relat | countri | manag natur resourc wealth well |
| need | busi inhibit develop agricultur sector | need | may great increas oil mine |
| growth | could help promot broadbas inclus | growth | growth would benefit nigerien see |
| growth | help promot broadbas inclus growth | growth | would benefit nigerien see three |
| polici | revenu requir mediumterm approach fiscal | polici | aim smooth spend help use |
| need | educ invest yield high return | need | growth job import creat space |
| growth | invest yield high return need | growth | job import creat space critic |
| growth | three pursu broadbas develop strategynig | growth | develop strategi focus exclus develop |
| economi | wider rang sector encourag diversifi | economi | reinforc effort help niger better |
| also | help niger better withstand shock | also | like deliv inclus growth opportun |
| growth | shock also like deliv inclus | growth | opportun job entir popul experienc |
| market | first hand met villag morn | market | boubon nigerien tremend resourc encourag |
| econom | govern even inclus develop new | econom | social develop plan role fundthi |
| need | dialogu imf listen even care | need | africa need help us serv |
| need | listen even care need africa | need | help us serv even effect |
| global | help us better advoc region | global | forum commit deeper fruit dialogu |
| growth | suffici room highprior spend support | growth | protect vulner boost concession lend |
| also | capac made lend instrument flexibl | also | reinforc effort assist region polici |
| polici | also reinforc effort assist region | polici | technic advic imf expertis offer |
| countri | expertis offer expertis help african | countri | achiev social econom object exampl |
| econom | help african countri achiev social | econom | object exampl continu work close |
| polici | advic budget execut manag tax | polici | analysi natur resourc project also |
| also | polici analysi natur resourc project | also | play import role region technic |
| polici | expertis countrytocountri conclusionnig critic junctur | polici | road ahead easi one stake |
| global | one stake high heighten today | global | risk opportun great chang cours |
| also | take time join us would | also | like express gratitud ngozi okonjoiweala |
| economi | gratitud ngozi okonjoiweala coordin minist | economi | minist financ central bank governor |
| financ | okonjoiweala coordin minist economi minist | financ | central bank governor sanusi lamido |
| econom | lamido sanusi instrument pursu nigeria | econom | transform first offici visit nigeria |
| global | africa leadership yet challeng time | global | economi dark cloud risk gather |
| economi | leadership yet challeng time global | economi | dark cloud risk gather nigeria |
| need | risk gather nigeria other africa | need | watch care let talk four |
| global | four thing today first state | global | economi polici need countri heart |
| economi | thing today first state global | economi | polici need countri heart crisi |
| polici | today first state global economi | polici | need countri heart crisi second |
| need | first state global economi polici | need | countri heart crisi second grow |
| countri | state global economi polici need | countri | heart crisi second grow risk |
| growth | agenda guard risk promot share | growth | nigerian fourth imf help nigeria |
| global | help nigeria africa face challeng | global | outlook policiesa said mani time |
| economi | policiesa said mani time world | economi | pois danger phase last forecast |
| global | phase last forecast still saw | global | growth percent year next today |
| growth | last forecast still saw global | growth | percent year next today growth |
| growth | growth percent year next today | growth | outlook much dimmer wors sever |
| economi | heart problem advers develop real | economi | financi sector keep feed propel |
| market | feed propel seen europ loss | market | confid govern bank govern adjust |
| market | imf program convinc enough regain | market | confid top unemploy remain unaccept |
| countri | unemploy remain unaccept high mani | countri | mean polici path forward advanc |
| polici | unaccept high mani countri mean | polici | path forward advanc countri especi |
| countri | mean polici path forward advanc | countri | especi euro area center crisi |
| need | start outlin key pillar solut | need | implement polici also need focus |
| polici | key pillar solut need implement | polici | also need focus bigger pictur |
| also | pillar solut need implement polici | also | need focus bigger pictur need |
| need | solut need implement polici also | need | focus bigger pictur need restor |
| need | also need focus bigger pictur | need | restor stabil growth last growth |
| growth | bigger pictur need restor stabil | growth | last growth advanc economi need |
| growth | need restor stabil growth last | growth | advanc economi need strike appropri |
| economi | stabil growth last growth advanc | economi | need strike appropri balanc fiscal |
| need | growth last growth advanc economi | need | strike appropri balanc fiscal monetari |
| polici | strike appropri balanc fiscal monetari | polici | promot growth stabil mean forg |
| growth | balanc fiscal monetari polici promot | growth | stabil mean forg ahead structur |
| polici | stabil mean forg ahead structur | polici | focus squar boost competit growth |
| growth | polici focus squar boost competit | growth | job mean strengthen financi sector |
| growth | financi sector better abl support | growth | problem might seem world away |
| economi | world away without action world | economi | could swept downward spiral collaps |
| growth | downward spiral collaps confid weaker | growth | fewer job today interconnect global |
| global | growth fewer job today interconnect | global | economi countri region immun risk |
| economi | fewer job today interconnect global | economi | countri region immun risk implic |
| countri | job today interconnect global economi | countri | region immun risk implic nigeria |
| global | bring second point might escal | global | risk affect africa nigeria let |
| econom | discuss shift shift better good | econom | polici provid platform higher growth |
| polici | shift shift better good econom | polici | provid platform higher growth invest |
| growth | econom polici provid platform higher | growth | invest less poverti growth across |
| growth | higher growth invest less poverti | growth | across region averag percent past |
| countri | percent past decad although vari | countri | countri signific poverti rate declin |
| countri | past decad although vari countri | countri | signific poverti rate declin near |
| global | didn hurt food fuel crisi | global | financi crisi follow took toll |
| countri | crisi hit policymak respond effect | countri | abl maintain critic spend health |
| countri | spend health educ infrastructur saw | countri | region recov quick growth rate |
| growth | saw countri region recov quick | growth | rate return level enjoy mid |
| economi | foreign exchang reserv short put | economi | fundament stronger foot nigeria except |
| global | year ago help mitig impact | global | crisi nigeria economi continu grow |
| economi | mitig impact global crisi nigeria | economi | continu grow percent despit crisi |
| growth | despit crisi current region averag | growth | look set continu healthi pace |
| economi | pace next year spillov advanc | economi | threaten outlook nigeria resili test |
| economi | trade financi link critic move | economi | forward good time iron becom |
| econom | becom interconnect carri today escal | econom | risk sustain slowdown advanc countri |
| countri | econom risk sustain slowdown advanc | countri | dampen demand africa export togeth |
| market | africa export togeth continu financi | market | uncertainti like inhibit privat financ |
| financ | market uncertainti like inhibit privat | financ | flow remitt concession financ potenti |
| financ | privat financ flow remitt concession | financ | potenti greater volatil commod market |
| market | financ potenti greater volatil commod | market | could caus disrupt winner loser |
| global | risk drop world oil price | global | demand weaken key watch point |
| countri | face risk main worri mani | countri | much capac absorb shock three |
| global | shock three year ago ad | global | slowdown could pronounc time around |
| polici | slowdown could pronounc time around | polici | need tread fine line defend |
| need | could pronounc time around polici | need | tread fine line defend global |
| global | need tread fine line defend | global | slowdown nearterm also preserv fiscal |
| also | line defend global slowdown nearterm | also | preserv fiscal resourc invest muchneed |
| growth | muchneed infrastructur help promot employ | growth | main part policymak need focus |
| need | employ growth main part policymak | need | focus restor fiscal buffer serv |
| global | right vision right action today | global | risk need becom nigeria realiti |
| need | right action today global risk | need | becom nigeria realiti nigeria transform |
| econom | guard risk secur inclus last | econom | growth outset let say confid |
| growth | risk secur inclus last econom | growth | outset let say confid nigeria |
| need | goal govern transform agenda nigeria | need | build inclus societi everi nigerian |
| econom | everi nigerian would equal access | econom | development opportun echo goal mani |
| countri | development opportun echo goal mani | countri | region yet easi task addit |
| global | yet easi task addit grow | global | risk reform agenda also must |
| also | grow global risk reform agenda | also | must contend serious local challeng |
| also | infrastructur gap particular power sector | also | hold nigeria back full growth |
| growth | also hold nigeria back full | growth | potenti nigeria electr generat capac |
| also | popul time greater high unemploy | also | critic econom social issu especi |
| econom | greater high unemploy also critic | econom | social issu especi true nigeria |
| econom | young peopl rate unemploy percent | econom | growth alon suffic job creation |
| growth | peopl rate unemploy percent econom | growth | alon suffic job creation critic |
| growth | suffic job creation critic ensur | growth | econom social sustain three aspect |
| econom | job creation critic ensur growth | econom | social sustain three aspect govern |
| need | import given extern environ name | need | rebuild fiscal buffer also help |
| also | name need rebuild fiscal buffer | also | help ensur natur resourc revenu |
| need | channel effect toward infrastructur invest | need | growth job prudent manag natur |
| growth | effect toward infrastructur invest need | growth | job prudent manag natur resourc |
| also | prudent manag natur resourc revenu | also | creat room critic public spend |
| economi | two structur transform promot diversifi | economi | help nigeria better withstand shock |
| also | help nigeria better withstand shock | also | provid broadbas growth opportun job |
| growth | withstand shock also provid broadbas | growth | opportun job entir popul huge |
| market | huge untap potenti nigeria enorm | market | investor market telecommun grew explos |
| market | potenti nigeria enorm market investor | market | telecommun grew explos mobil phone |
| also | level help develop agricultur sector | also | mean reliabl polici help promot |
| polici | agricultur sector also mean reliabl | polici | help promot macroeconom stabil investor |
| need | dialogu imf listen even care | need | help us serv even effect |
| also | nigeria thought leader region listen | also | work hard reform imf govern |
| market | reform imf govern structur emerg | market | develop countri greater voic institut |
| countri | govern structur emerg market develop | countri | greater voic institut truli repres |
| countri | voic institut truli repres membership | countri | need boost concession lend capac |
| need | institut truli repres membership countri | need | boost concession lend capac made |
| also | flexibl greater protect social spend | also | redoubl effort provid qualiti technic |
| countri | expertis offer expertis help african | countri | achiev social econom object activ |
| econom | help african countri achiev social | econom | object activ program technic assist |
| also | technic assist nigerian public institut | also | play import role four soon |
| countri | center africa facilit share expertis | countri | conclusionlet conclud thought renown nigerian |
| global | time policymak stand turn away | global | econom storm cloud turn sun |
| econom | policymak stand turn away global | econom | storm cloud turn sun time |
| growth | leadership continu action nigeria sourc | growth | contin world thank |
| global | follow wto access second implic | global | economi third outlook go forward |
| economi | wto access second implic global | economi | third outlook go forward first |
| growth | past ten year employ output | growth | impress integr global market proceed |
| global | employ output growth impress integr | global | market proceed one way summar |
| market | output growth impress integr global | market | proceed one way summar china |
| global | share benefit china increas integr | global | economi china access wto brought |
| economi | benefit china increas integr global | economi | china access wto brought broad |
| also | class cloth good electron name | also | foreign enterpris benefit grow share |
| global | achiev time lay today futur | global | environ look tougher seen mani |
| growth | tougher seen mani year outlook | growth | demand larg economi like remain |
| economi | year outlook growth demand larg | economi | like remain stagnant time howev |
| global | year ago china face fierc | global | competit manufactur sector hard work |
| growth | chines household boost consumpt strengthen | growth | develop servic sector inde comprehens |
| also | continu reform exchang rate transform | also | benefit rest world china becom |
| countri | import export destin expand rang | countri | confid next year bright grow |
| global | benefit world china continu integr | global | economi thank |
| economi | world china continu integr global | economi | thank |
| global | region exchang view effort respond | global | crisi imf role promot financi |
| market | crisi morph fullyfledg crisi confid | market | particular worri continu advers feedback |
| need | weak big bold polit decis | need | reduc sovereign risk also need |
| also | decis need reduc sovereign risk | also | need increas effort bolster financi |
| need | need reduc sovereign risk also | need | increas effort bolster financi system |
| economi | bolster financi system advanc emerg | economi | believ improv fsap play essenti |
| economi | impact current crisi advanc emerg | economi | major advanc economi seem enter |
| economi | advanc emerg economi major advanc | economi | seem enter vicious cycl weak |
| econom | seem enter vicious cycl weak | econom | activ financi distress high public |
| economi | high public debt deficit emerg | economi | contrast show stronger fundament underpin |
| global | contrast show stronger fundament underpin | global | econom growth far economi immun |
| econom | show stronger fundament underpin global | econom | growth far economi immun fact |
| growth | stronger fundament underpin global econom | growth | far economi immun fact vulner |
| economi | underpin global econom growth far | economi | immun fact vulner increas potenti |
| economi | vulner increas potenti spillov advanc | economi | weaken econom outlook surpris mani |
| econom | potenti spillov advanc economi weaken | econom | outlook surpris mani asian policymak |
| polici | grow downsid risk begun adjust | polici | stanc financi market weigh combin |
| market | begun adjust polici stanc financi | market | weigh combin weak major advanc |
| economi | weigh combin weak major advanc | economi | cyclic cool emerg economi even |
| economi | advanc economi cyclic cool emerg | economi | even though investor fear somewhat |
| global | central bank provid dollar liquid | global | financi system euro stoxx index |
| market | equiti index near percent year | market | becom increas volatil seen sharp |
| global | june even begin wonder whether | global | economi head bust greater one |
| economi | even begin wonder whether global | economi | head bust greater one heart |
| countri | euro area crisi core european | countri | come pressur foreign investor flee |
| market | investor flee europ sovereign debt | market | push longterm yield spanish italian |
| market | collapsewith condit deterior sovereign debt | market | europ bank find increas difficult |
| market | difficult expens borrow money wholesal | market | time face wall matur debt |
| market | capit target scope tap equiti | market | limit given european financi stock |
| economi | feedback loop financi sector real | economi | fiscal posit within beyond euro |
| economi | within beyond euro area real | economi | strain alreadi evid europ broad |
| econom | strain alreadi evid europ broad | econom | sentiment indic deterior recent month |
| growth | fourth quarter seen signific mark | growth | forecast govern recent oecd level |
| growth | state revis estim thirdquart gdp | growth | percent expect even level may |
| growth | fourth quarter given weak incom | growth | high unemploy declin hous price |
| financ | hous price fact higher consumpt | financ | primarili reduc save continu polit |
| polici | save continu polit disagr fiscal | polici | weigh market sentiment u recent |
| market | polit disagr fiscal polici weigh | market | sentiment u recent failur u |
| econom | massiv fiscal adjust would hit | econom | growth prompt warn rate agenc |
| growth | fiscal adjust would hit econom | growth | prompt warn rate agenc downgrad |
| economi | rate agenc downgrad major develop | economi | notabl japan uk face equal |
| growth | suggest moder expans fourth quarter | growth | prospect strong uk forecast econom |
| econom | growth prospect strong uk forecast | econom | growth revis less percent may |
| growth | prospect strong uk forecast econom | growth | revis less percent may hard |
| global | emerg asia decoupl anyth weaker | global | demand difficult intern financi condit |
| growth | vulner often driven rapid credit | growth | alreadi sign econom growth emerg |
| econom | rapid credit growth alreadi sign | econom | growth emerg asia slow pmi |
| growth | credit growth alreadi sign econom | growth | emerg asia slow pmi manufactur |
| economi | year weak trade number smaller | economi | confirm signal weaken extern outlook |
| growth | outlook may dampen otherwis strong | growth | region recent imf spillov report |
| market | channel europ one largest export | market | number asian countri includ china |
| countri | largest export market number asian | countri | includ china india philippin intraregion |
| also | disrupt trade europ america would | also | like disrupt intraregion trade cours |
| also | disrupt intraregion trade cours asia | also | affect financi channel foreign investor |
| market | signific role asian equiti bond | market | mani countri region sizeabl exposur |
| countri | asian equiti bond market mani | countri | region sizeabl exposur european bank |
| market | major european bank activ emerg | market | could substanti impact credit suppli |
| global | fsap believ becom essenti underpin | global | financi stabil launch respons asian |
| polici | financi sector vulner design longerterm | polici | reform advanc economi fsap repres |
| economi | design longerterm polici reform advanc | economi | fsap repres uniqu opportun strengthen |
| economi | base lesson current crisi emerg | economi | fsap help nation author prevent |
| economi | make fsap mandatori system import | economi | one key outcom yearlong debat |
| global | modern fund surveil mandat follow | global | crisi landmark decis formal bring |
| countri | consult fsap sinc creation fsap | countri | volunt particip program mani fsap |
| global | role independ review onset recent | global | financi crisi fsap assess abl |
| also | risk crisi unfold fsap team | also | quick adapt scope assess focus |
| need | past five year shown assess | need | pay attent liquid risk crossbord |
| countri | fsap far compar european member | countri | percent countri western hemispher percent |
| countri | compar european member countri percent | countri | western hemispher percent countri middl |
| countri | percent countri western hemispher percent | countri | middl east central asia percent |
| countri | middl east central asia percent | countri | subsaharan africa situat chang sinc |
| countri | china indonesia last two year | countri | fsap prais remark progress achiev |
| market | remain china broaden deepen financi | market | servic creat diversifi innov financi |
| also | capac effect imf surveil function | also | great enhanc author abil monitor |
| need | fsap continu evolv especi respons | need | author region futur fsap like |
| market | vix index precrisi peak today | market | estim suggest billion fall due |
| countri | bank claim greater percent gdp | countri | australia new zealand vietnam nie |
| countri | new zealand vietnam nie asean | countri | japan india ratio close percent |
| also | relat small euro zone bank | also | suppli almost asia trade credit |
| market | conduct joint world bank emerg | market | develop economi two compon financi |
| economi | world bank emerg market develop | economi | two compon financi stabil assess |
| economi | financi develop assess bank advanc | economi | assess conduct fund focus financi |
| global | pleasur join minist welcom fourth | global | confer intern tax dialogu itd |
| countri | benefit huge fuel subsid mani | countri | go overwhelm richest better way |
| polici | richest better way help poor | polici | develop work publish landmark book |
| growth | greater equal tend associ sustain | growth | technic assist work provid practic |
| countri | assist work provid practic advic | countri | distribut effect tax spend polici |
| polici | countri distribut effect tax spend | polici | equiti object best met today |
| growth | fiscal consolid europ distribut benefit | growth | fast grow emerg market countri |
| market | benefit growth fast grow emerg | market | countri need mani lower incom |
| countri | growth fast grow emerg market | countri | need mani lower incom countri |
| need | fast grow emerg market countri | need | mani lower incom countri overcom |
| countri | countri need mani lower incom | countri | overcom resist elit establish tax |
| need | tax system legitimaci revenu product | need | sustain develop person valu judgment |
| countri | labor incom averag percent oecd | countri | last thirti year equal dramat |
| countri | increas gini measur inequ mani | countri | period onethird leav hard question |
| countri | first fiscal consolid pain mani | countri | unfair high concentr incom u |
| also | k could rais billion would | also | hurt poor work imf show |
| need | vat revenu lead second point | need | look tax spend side togeth |
| economi | twothird redistribut take place advanc | economi | govern spend taxat mani social |
| countri | rais least practic challeng point | countri | administr capac reach point instrument |
| need | reach point instrument becom practic | need | integr view tax spend limit |
| countri | measur incom support lower incom | countri | benefit poorest public provis basic |
| need | provis basic educ health servic | need | weigh regress instrument vat use |
| financ | weigh regress instrument vat use | financ | third mani dimens inequ fiscal |
| polici | third mani dimens inequ fiscal | polici | affect inequ across countri region |
| countri | fiscal polici affect inequ across | countri | region within inequ sex ethnic |
| financ | excel mohammad safadi lebanes minist | financ | kind invit address today would |
| global | differ septemb talk challeng face | global | economi today focus exclus histor |
| economi | septemb talk challeng face global | economi | today focus exclus histor transform |
| econom | greater digniti widespread fairer distribut | econom | opportun resourc basic human yearn |
| countri | setback bigger expect alway clear | countri | must find path pace chang |
| countri | path pace chang would vari | countri | predict size setback intens disrupt |
| also | must give way practic concern | also | doesn help happen time great |
| global | help happen time great turmoil | global | economi import manag difficult transit |
| economi | happen time great turmoil global | economi | import manag difficult transit order |
| countri | arab spring light path forward | countri | region remain ever hope although |
| econom | matter everyon must keep mind | econom | challengeslet turn second point tie |
| econom | challengeslet turn second point tie | econom | challeng face region learn import |
| econom | import lesson arab spring toplin | econom | number growth exampl often look |
| growth | arab spring toplin econom number | growth | exampl often look good mani |
| econom | frank pay enough attent fruit | econom | growth share much clearer equal |
| growth | pay enough attent fruit econom | growth | share much clearer equal societi |
| econom | clearer equal societi associ greater | econom | stabil sustain growth countri region |
| growth | associ greater econom stabil sustain | growth | countri region must find path |
| countri | greater econom stabil sustain growth | countri | region must find path chang |
| econom | must find path chang overarch | econom | goal arab spring remain clear |
| growth | arab spring remain clear higher | growth | growth creat job growth share |
| growth | spring remain clear higher growth | growth | creat job growth share equit |
| growth | higher growth growth creat job | growth | share equit among strand societi |
| also | delic point transit risk polit | also | econom financi alreadi wit econom |
| econom | point transit risk polit also | econom | financi alreadi wit econom slowdown |
| econom | also econom financi alreadi wit | econom | slowdown across oilimport countri push |
| countri | wit econom slowdown across oilimport | countri | push alreadyhigh unemploy aggrav social |
| growth | specif dimens macroeconom stabil inclus | growth | macroeconom stabilitylet first emphas import |
| need | lessen hardship face ordinari peopl | need | social cohes short term come |
| need | hire peopl across region govern | need | move toward better sustain fiscal |
| polici | move toward better sustain fiscal | polici | particular target social protect system |
| growth | educ health lay foundat inclus | growth | would break past general subsidi |
| growth | stabil essenti macroeconom stabil inclus | growth | inde must go hand hand |
| also | slay dragon corrupt govern must | also | lay foundat modern competit economi |
| economi | also lay foundat modern competit | economi | break vest interest cozi network |
| econom | privileg prevent region reach true | econom | potenti simpli way creat million |
| need | simpli way creat million job | need | peopl join labor forc reduc |
| need | unemploy next decad succeed debat | need | move beyond wrong past right |
| also | lie ultim region intern communiti | also | respons help must listen hope |
| financ | hope voic provid support includ | financ | technic assist intern communiti must |
| also | technic assist intern communiti must | also | offer greater market access countri |
| market | communiti must also offer greater | market | access countri region countri modern |
| countri | also offer greater market access | countri | region countri modern becom competit |
| countri | greater market access countri region | countri | modern becom competit need given |
| need | region countri modern becom competit | need | given opportun trade rest world |
| need | opportun trade rest world creat | need | job inclus growth simpli altern |
| growth | world creat need job inclus | growth | simpli altern imf stand readi |
| polici | will walk path offer best | polici | advic possibl provid financi help |
| countri | help request technic assist help | countri | build better institut better world |
| econom | hopelet briefli wrap amidst darken | econom | outlook wane confid arab spring |
| also | issu fiscal monitor slide would | also | like take opportun discuss topic |
| countri | account never weak decad advanc | countri | data go show come public |
| countri | websit report public debt data | countri | time seri start two hundr |
| countri | aftermath second world war advanc | countri | still relat young popul popul |
| market | percentag point gdp addit financi | market | earli much less complic much |
| countri | often oblig purchas govern paper | countri | limit invest abroad much easier |
| countri | debt within g debt high | countri | except canada unit kingdom latter |
| countri | thing somewhat mix smaller advanc | countri | slide debt ratio low outsid |
| countri | new zealand high histor sever | countri | like portug greec high level |
| growth | public debt seen drag longterm | growth | mani economist definit financi market |
| market | growth mani economist definit financi | market | base spread prevail time thought |
| countri | spread prevail time thought advanc | countri | could affect open fiscal crisi |
| economi | effect crisi fiscal account advanc | economi | let start advanc countri focus |
| countri | advanc economi let start advanc | countri | focus happen go show fiscal |
| countri | axi increas debt respect start | countri | origin see thing evolv time |
| countri | evolv time size balloon proport | countri | gdp exampl tell alreadi debt |
| countri | percentag point alreadi sizabl deterior | countri | big shock major increas deficit |
| econom | deficit edg most result improv | econom | condit debt keep rise fast |
| countri | risen percentag point level sever | countri | start see consider fiscal adjust |
| polici | unit state interest note fiscal | polici | u turn consider tighter expect |
| market | materi part revenu aris financi | market | profit asset price increas larger |
| polici | shutdown later debt ceil saga | polici | alreadi taken shape lot uncertainti |
| polici | shape lot uncertainti u fiscal | polici | due stalem congress best project |
| countri | best project would happen across | countri | unchang polici declin deficit unit |
| polici | would happen across countri unchang | polici | declin deficit unit sate remark |
| growth | say fast given risk ahead | growth | american job act support plan |
| also | lot opposit congress lot opposit | also | like found mediumterm plan put |
| financ | meant ensur confid u public | financ | would remain strong spite shortrun |
| polici | yet clarifi either short longterm | polici | cours note output shock affect |
| countri | debt gdp ratio experienc advanc | countri | come automat revenu loss percent |
| countri | calcul present earlier look much | countri | would improv cyclicallyadjust primari balanc |
| countri | balanc overal balanc averag advanc | countri | slide assum target lower debt |
| countri | primari balanc even larger advanc | countri | would achiev pressur health care |
| countri | daunt task chart slide compar | countri | countri level primari balanc would |
| countri | task chart slide compar countri | countri | level primari balanc would need |
| need | countri level primari balanc would | need | exercis level primari balanc ever |
| countri | reach tenyear period clear half | countri | lower debt ratio sixti percent |
| countri | risk focus rest present advanc | countri | specif euro area unit state |
| market | place start assess risk look | market | believ look interest rate countri |
| countri | market believ look interest rate | countri | borrow let start simpl chart |
| countri | size balloon proport yield differenti | countri | question germani regard risk free |
| countri | risk free asset visual impress | countri | larg spread greec portug ireland |
| polici | consid explan believ shed light | polici | option countri face consid turn |
| countri | believ shed light polici option | countri | face consid turn past futur |
| growth | health care pension spend bank | growth | sourc financ first hypothesi figur |
| financ | pension spend bank growth sourc | financ | first hypothesi figur slide static |
| countri | deficit slide larg improv almost | countri | includ unit state japan note |
| also | includ unit state japan note | also | declin deficit europ larger anticip |
| countri | japan unit state euro area | countri | slide look good note also |
| also | countri slide look good note | also | project increas debt ratio sever |
| countri | debt ratio sever euro area | countri | actual smaller project say two |
| countri | two year ago good news | countri | good news japan unit state |
| market | fiscal trend explain u japan | market | pressur second explan longerterm trend |
| countri | health care spend euro area | countri | compar unit state japan shown |
| countri | pension health care spend across | countri | see japan bad shape unit |
| need | condit bank want reopen issu | need | stronger capit buffer european bank |
| growth | increas yield let keep look | growth | chart slide plot interest rate |
| growth | slide plot interest rate spread | growth | rate definit relationship although explan |
| growth | hold unit state japan low | growth | countri moreov correl much less |
| countri | unit state japan low growth | countri | moreov correl much less clear |
| growth | increas level public debt burden | growth | u futur studi recent rogoff |
| growth | certain threshold high debt bad | growth | slide unit state well beyond |
| growth | edg visà vi europ term | growth | let move believ obvious explan |
| countri | explan differ observ yield across | countri | investor base chart slide look |
| financ | limit relianc foreign privat sector | financ | liabil unit state japan japan |
| financ | china slide contrast share foreign | financ | euro countri pressur much higher |
| countri | contrast share foreign financ euro | countri | pressur much higher although overestim |
| countri | hold correl interest rate spread | countri | weaker fundament slide put togeth |
| countri | way cds spread differ across | countri | simpl crosscountri econometr regress slide |
| market | detail annex illustr current shortterm | market | make fiscal polici manag difficult |
| polici | current shortterm market make fiscal | polici | manag difficult first fiscal variabl |
| market | difficult first fiscal variabl import | market | focus primarili shortterm develop project |
| growth | seem matter much second project | growth | import higher growth lead lower |
| growth | second project growth import higher | growth | lead lower spread shortterm growth |
| growth | growth lead lower spread shortterm | growth | matter rather potenti growth one |
| growth | shortterm growth matter rather potenti | growth | one unpleas implic focus shortterm |
| growth | unpleas implic focus shortterm output | growth | fiscal multipli suffici larg higher |
| also | spread shortterm declin gdp act | also | shortterm rise debt ratio tend |
| financ | push spread third central bank | financ | either central bank central bank |
| polici | rate long inflationari draw sever | polici | conclus discuss let start unit |
| countri | state japan fiscal account weak | countri | yet clear plan stabil rapid |
| financ | debt ratio year strength primarili | financ | structur unit state remain expos |
| countri | financi institut toward profit altogeth | countri | need quick clarifi polici intent |
| need | institut toward profit altogeth countri | need | quick clarifi polici intent lesson |
| polici | altogeth countri need quick clarifi | polici | intent lesson european countri pressur |
| countri | clarifi polici intent lesson european | countri | pressur first need adjust fiscal |
| need | lesson european countri pressur first | need | adjust fiscal fundament adjust take |
| countri | fundament adjust take place though | countri | would move next two year |
| growth | target balanc budget primarili lower | growth | one part packag reduct tax |
| growth | would underscor three point first | growth | structur reform need boost growth |
| need | point first growth structur reform | need | boost growth process higher growth |
| growth | growth structur reform need boost | growth | process higher growth huge impact |
| growth | need boost growth process higher | growth | huge impact fiscal account medium |
| countri | impact fiscal account medium term | countri | like european one revenu ratio |
| growth | ratio least percent rais gdp | growth | rate one percentag point would |
| growth | revenu save slide howev shortterm | growth | suffer fiscal tighten offset adequ |
| financ | suffer fiscal tighten offset adequ | financ | see second need increas capit |
| need | offset adequ financ see second | need | increas capit buffer bank system |
| need | support confid allow increas credit | need | support growth process final financ |
| growth | allow increas credit need support | growth | process final financ environ market |
| financ | need support growth process final | financ | environ market focus short term |
| market | growth process final financ environ | market | focus short term risk necessari |
| countri | spread offset provis financi support | countri | adjust seen import adequ nonmarket |
| financ | adjust seen import adequ nonmarket | financ | unit state cours suggest countri |
| countri | financ unit state cours suggest | countri | becom reserv currenc countri short |
| countri | suggest countri becom reserv currenc | countri | short run support ecb continu |
| countri | run support ecb continu program | countri | financ efsf imf remain avail |
| financ | support ecb continu program countri | financ | efsf imf remain avail turn |
| countri | euro area support long take | countri | adjust critic respect think ultim |
| countri | ultim polit whatev take support | countri | troubl adjust support euro area |
| need | troubl adjust support euro area | need | communic without hesit unfortun communic |
| countri | regress year cds spread advanc | countri | slide accompani powerpoint present depend |
| countri | project fall fiscal monitor imf | countri | member euro area primari balanc |
| countri | member euro area primari balanc | countri | signific primari balanc countri includ |
| countri | balanc countri signific primari balanc | countri | includ magnitud coeffici drop half |
| also | general govern debttogdp ratio end | also | project fiscal monitor canada japan |
| countri | use dfcb general govern debt | countri | question held nation central bank |
| econom | weo inflat rate project world | econom | outlook imf also fall issu |
| also | project world econom outlook imf | also | fall issu rgdp real gdp |
| growth | fall issu rgdp real gdp | growth | rate sourcepen net present valu |
| countri | balanc gdp ratio euro area | countri | project imf fiscal monitor potlr |
| growth | potlr project potenti real gdp | growth | averag first column tabl report |
| market | one regress illustr focus financi | market | shortterm variabl neither futur primari |
| also | care signific futur debt ratio | also | insignific futur potenti growth enter |
| growth | ratio also insignific futur potenti | growth | enter regress sign could justifi |
| econom | enter regress sign could justifi | econom | perspect higher potenti growth lead |
| growth | justifi econom perspect higher potenti | growth | lead higher spread relat low |
| market | extent result reflect particular state | market | rather perman featur someth cross |
| growth | simultan issu e g spread | growth | also deserv addit attent raquel |
| also | issu e g spread growth | also | deserv addit attent raquel gomez |
| countri | sirera provid excel research assist | countri | sampl includ australia austria belgium |
| growth | kingdom unit state past potenti | growth | also includ present problem |
| also | unit state past potenti growth | also | includ present problem |
| financ | like especi thank chairman intern | financ | forum dr cheng siwei excel |
| countri | today alway pleasur return magnific | countri | visit china mani time first |
| global | even stronger futur rise asia | global | economi realli defin econom success |
| economi | stronger futur rise asia global | economi | realli defin econom success stori |
| econom | asia global economi realli defin | econom | success stori modern time today |
| global | time today surpris asia propel | global | recoveri china much leader look |
| global | best circumst dark cloud gather | global | economi asia need watch care |
| economi | circumst dark cloud gather global | economi | asia need watch care encourag |
| need | cloud gather global economi asia | need | watch care encourag step taken |
| global | talk four thing first state | global | economi second polici need restor |
| economi | four thing first state global | economi | second polici need restor global |
| polici | first state global economi second | polici | need restor global growth third |
| need | state global economi second polici | need | restor global growth third china |
| global | economi second polici need restor | global | growth third china even safeguard |
| growth | second polici need restor global | growth | third china even safeguard econom |
| econom | growth third china even safeguard | econom | futur fourth import shift take |
| global | fourth import shift take place | global | econom govern especi relat role |
| econom | import shift take place global | econom | govern especi relat role emerg |
| market | govern especi relat role emerg | market | china global region econom challengesfirst |
| global | relat role emerg market china | global | region econom challengesfirst said global |
| econom | emerg market china global region | econom | challengesfirst said global economi enter |
| global | global region econom challengesfirst said | global | economi enter danger uncertain phase |
| economi | region econom challengesfirst said global | economi | enter danger uncertain phase advers |
| economi | phase advers feedback loop real | economi | financi sector becom promin unemploy |
| economi | sector becom promin unemploy advanc | economi | remain unaccept high act act |
| global | spiral uncertainti financi instabl collaps | global | demand ultim could face lost |
| growth | could face lost decad low | growth | high unemploy mani area still |
| global | mani area still struggl recov | global | financi crisi asia rebound real |
| growth | reli lot extern demand propel | growth | emerg asia also vulner develop |
| also | demand propel growth emerg asia | also | vulner develop financi sector increas |
| countri | financi sector increas interconnect world | countri | region go alon bound togeth |
| econom | region go alon bound togeth | econom | success failur polici pathwhich bring |
| polici | bound togeth econom success failur | polici | pathwhich bring second issu polici |
| polici | polici pathwhich bring second issu | polici | path ahead world sinc advanc |
| economi | path ahead world sinc advanc | economi | center global turmoil special respons |
| global | world sinc advanc economi center | global | turmoil special respons undertak polici |
| polici | global turmoil special respons undertak | polici | need restor confid lift growth |
| need | turmoil special respons undertak polici | need | restor confid lift growth respect |
| growth | polici need restor confid lift | growth | respect said encourag octob euro |
| econom | financi contagion lay foundat robust | econom | govern euro area cann summit |
| countri | area cann summit end g | countri | endors framework emphas need expediti |
| need | g countri endors framework emphas | need | expediti implement key broad also |
| also | need expediti implement key broad | also | need keep eye big prize |
| need | expediti implement key broad also | need | keep eye big prize strong |
| economi | sustain balanc recoveri mean advanc | economi | term polici path forward mean |
| polici | recoveri mean advanc economi term | polici | path forward mean strike appropri |
| polici | strike appropri balanc fiscal monetari | polici | promot stabil growth mean push |
| growth | fiscal monetari polici promot stabil | growth | mean push ahead structur polici |
| polici | growth mean push ahead structur | polici | boost competit employ strengthen financi |
| economi | safer put back servic real | economi | cours mix polici differ countri |
| polici | servic real economi cours mix | polici | differ countri countri singl path |
| countri | economi cours mix polici differ | countri | countri singl path must find |
| countri | cours mix polici differ countri | countri | singl path must find right |
| need | truli sustain recoveri social dimens | need | growth need growth produc job |
| growth | sustain recoveri social dimens need | growth | need growth produc job without |
| need | recoveri social dimens need growth | need | growth produc job without job |
| growth | social dimens need growth need | growth | produc job without job great |
| economi | young peopl becom unmoor product | economi | bond societi need growth need |
| need | unmoor product economi bond societi | need | growth need growth inclus born |
| growth | product economi bond societi need | growth | need growth inclus born recent |
| need | economi bond societi need growth | need | growth inclus born recent imf |
| growth | bond societi need growth need | growth | inclus born recent imf research |
| growth | distribut good macroeconom stabil sustain | growth | polici direct advanc economi path |
| polici | good macroeconom stabil sustain growth | polici | direct advanc economi path asia |
| economi | sustain growth polici direct advanc | economi | path asia right asia face |
| countri | asia face difficult balanc act | countri | need prepar storm might reach |
| need | face difficult balanc act countri | need | prepar storm might reach shore |
| polici | prolong easi financi condit therefor | polici | must respond nimbl chang circumst |
| polici | circumst inflat pressur high monetari | polici | accommod monetari tighten make sens |
| countri | control exposur extern danger high | countri | hold monetari tighten inde countri |
| countri | countri hold monetari tighten inde | countri | region alreadi halt monetari tighten |
| countri | debt higher crisi vast major | countri | continu deficit reduct right cours |
| global | deficit reduct right cours action | global | econom environ deterior make sens |
| econom | reduct right cours action global | econom | environ deterior make sens quick |
| econom | cours deploy rang measur cushion | econom | activ exampl policymak eas fiscal |
| also | arrang asia social dimens spoke | also | direct relev asia forefront think |
| also | made poverti reduct major effort | also | made continu made build better |
| growth | strategi twin benefit creat inclus | growth | benefit peopl asia provid stronger |
| growth | asia provid stronger domest engin | growth | turn help global economi role |
| global | domest engin growth turn help | global | economi role chinawhich bring third |
| economi | engin growth turn help global | economi | role chinawhich bring third point |
| growth | domest vulner moder pace credit | growth | increas provis capit expand scope |
| polici | provis capit expand scope macroprudenti | polici | still scope use monetari polici |
| polici | polici still scope use monetari | polici | restrain credit growth fiscal polici |
| growth | use monetari polici restrain credit | growth | fiscal polici appropri move back |
| polici | polici restrain credit growth fiscal | polici | appropri move back balanc growth |
| growth | polici appropri move back balanc | growth | outlook deterior signific could becom |
| also | capac deploy resourc quick china | also | right path term reorient economi |
| economi | also right path term reorient | economi | toward domest demand laozi said |
| global | percent last year come weak | global | demand also come higher import |
| also | year come weak global demand | also | come higher import help global |
| global | also come higher import help | global | economi time move export invest |
| economi | come higher import help global | economi | time move export invest toward |
| also | system continu import said china | also | need stronger currenc real effect |
| need | continu import said china also | need | stronger currenc real effect term |
| global | stronger currenc real effect term | global | econom governanceglob econom govern fourth |
| econom | currenc real effect term global | econom | governanceglob econom govern fourth final |
| econom | effect term global econom governanceglob | econom | govern fourth final point alreadi |
| global | rise asia general china particular | global | economi china vital driver global |
| economi | asia general china particular global | economi | china vital driver global growth |
| global | global economi china vital driver | global | growth along key emerg market |
| growth | economi china vital driver global | growth | along key emerg market also |
| market | global growth along key emerg | market | also help lift growth lowincom |
| also | growth along key emerg market | also | help lift growth lowincom countri |
| growth | emerg market also help lift | growth | lowincom countri trade invest financ |
| countri | also help lift growth lowincom | countri | trade invest financ china play |
| financ | growth lowincom countri trade invest | financ | china play lead role g |
| also | hu jintao cann summit china | also | play lead role imf fund |
| need | role imf fund effect recogn | need | truli repres membership countri respect |
| countri | recogn need truli repres membership | countri | respect work hard reform govern |
| market | hard reform govern structur emerg | market | develop countri greater voic institut |
| countri | govern structur emerg market develop | countri | greater voic institut one result |
| global | imf fit given import role | global | economi conclusioni want leav one |
| economi | fit given import role global | economi | conclusioni want leav one final |
| global | final thought one boat one | global | economi fortun rise togeth fall |
| economi | thought one boat one global | economi | fortun rise togeth fall togeth |
| countri | world world everi person everi | countri | reach full potenti much histori |
| global | popul prosper nation china taken | global | central stage play crucial role |
| global | heart stand still inde modern | global | economi incred complex interdepend russia |
| economi | stand still inde modern global | economi | incred complex interdepend russia emerg |
| global | done relat well far travers | global | econom crisi see dark cloud |
| econom | relat well far travers global | econom | crisi see dark cloud gather |
| global | got work well risk eman | global | economi serious must vigil let |
| economi | work well risk eman global | economi | serious must vigil let talk |
| global | four thing today first state | global | economi risk emerg europ particular |
| economi | thing today first state global | economi | risk emerg europ particular second |
| polici | risk emerg europ particular second | polici | path need take lift gloom |
| need | europ particular second polici path | need | take lift gloom restor global |
| global | need take lift gloom restor | global | growth third russia even protect |
| growth | take lift gloom restor global | growth | third russia even protect safeguard |
| economi | russia even protect safeguard futur | economi | fourth import shift take place |
| global | fourth import shift take place | global | econom govern especi relat russia |
| econom | import shift take place global | econom | govern especi relat russia role |
| global | govern especi relat russia role | global | region econom challengeson first point |
| econom | relat russia role global region | econom | challengeson first point said mani |
| global | first point said mani time | global | economi enter danger uncertain phase |
| economi | point said mani time global | economi | enter danger uncertain phase darken |
| economi | risk advers feedback loop real | economi | financi sector becom promin make |
| countri | unemploy remain unaccept high mani | countri | inde one greatest worri may |
| economi | young peopl becom disconnect product | economi | bond societi main problem fundament |
| global | spiral uncertainti financi instabl collaps | global | demand ultim could face lost |
| growth | could face lost decad low | growth | high unemploy emerg europ said |
| econom | part adopt mani case sound | econom | polici risk clear storm strengthen |
| polici | adopt mani case sound econom | polici | risk clear storm strengthen euro |
| countri | increas financi strain even though | countri | region larg current account deficit |
| countri | line system extern debt mani | countri | high share foreign currenc loan |
| also | lifelin capit liquid fiscal space | also | lower back sown good time |
| countri | lower back sown good time | countri | abl reap bad time let |
| polici | storm room complac stake high | polici | path forwardwhich bring second issu |
| polici | path forwardwhich bring second issu | polici | path forward obvious advanc economi |
| economi | polici path forward obvious advanc | economi | special respons act sinc euro |
| countri | respons act sinc euro area | countri | eye storm must center solut |
| econom | financi contagion lay foundat robust | econom | govern reform euro area cann |
| also | commit framework remain strong broad | also | emphas need keep eye big |
| need | remain strong broad also emphas | need | keep eye big prize restor |
| growth | keep eye big prize restor | growth | stabil mean advanc economi term |
| economi | restor growth stabil mean advanc | economi | term polici path forward fiscal |
| polici | stabil mean advanc economi term | polici | path forward fiscal polici focus |
| polici | term polici path forward fiscal | polici | focus strong credibl mediumterm consolid |
| growth | restor confid creat space accommod | growth | job shortrun cours avail space |
| countri | shortrun cours avail space differ | countri | market pressur littl choic forg |
| market | cours avail space differ countri | market | pressur littl choic forg ahead |
| growth | ahead adjust other eas brake | growth | slow given wellanchor inflat expect |
| polici | given wellanchor inflat expect monetari | polici | stay accommod mani countri need |
| countri | monetari polici stay accommod mani | countri | need reform structur polici boost |
| need | polici stay accommod mani countri | need | reform structur polici boost competit |
| polici | mani countri need reform structur | polici | boost competit growth better financi |
| growth | reform structur polici boost competit | growth | better financi sector regul also |
| also | growth better financi sector regul | also | remain critic import year ahead |
| economi | stabl put back servic real | economi | emerg market cannot remain passiv |
| market | back servic real economi emerg | market | cannot remain passiv neither follow |
| market | famili unhappi way key emerg | market | extern surplus need provid global |
| need | key emerg market extern surplus | need | provid global demand switch domest |
| global | market extern surplus need provid | global | demand switch domest sourc growth |
| growth | global demand switch domest sourc | growth | good countri good global economi |
| countri | switch domest sourc growth good | countri | good global economi emerg market |
| global | sourc growth good countri good | global | economi emerg market differ path |
| economi | growth good countri good global | economi | emerg market differ path need |
| market | countri good global economi emerg | market | differ path need strengthen macroeconom |
| need | economi emerg market differ path | need | strengthen macroeconom polici framework rebuild |
| polici | differ path need strengthen macroeconom | polici | framework rebuild fiscal space need |
| need | polici framework rebuild fiscal space | need | protect financi stabil especi cope |
| need | especi cope volatil capit flow | need | build safeguard potenti extern shock |
| growth | drop commod price exampl hurt | growth | distress core euro area bank |
| polici | revenu come budget term monetari | polici | focus low inflat lay groundwork |
| also | inflat lay groundwork stabil predict | also | help develop financi market help |
| market | predict also help develop financi | market | help turn moscow intern financi |
| need | financi center financi sector russia | need | improv bank supervis bank financi |
| polici | storm come case russia number | polici | option could allow exchang rate |
| need | could provid liquid support bank | need | could let automat stabil oper |
| growth | tax burden fall respons weaker | growth | deal clear present danger key |
| need | help russia move forward futur | need | higher sustain growth creat enough |
| growth | forward futur need higher sustain | growth | creat enough job benefit whole |
| economi | oil move toward vibrant diversifi | economi | besid stabl macroeconom environ mean |
| need | widerang structur reform step taken | need | done russian author recogn challeng |
| global | russian author recogn challeng ahead | global | econom governancelet turn fourth final |
| econom | author recogn challeng ahead global | econom | governancelet turn fourth final point |
| global | turn fourth final point transform | global | economi brought rise new center |
| economi | fourth final point transform global | economi | brought rise new center growth |
| growth | economi brought rise new center | growth | lead emerg market russia play |
| market | new center growth lead emerg | market | russia play import role global |
| global | market russia play import role | global | stage play import role g |
| market | oil produc along key emerg | market | help lift growth includ lowincom |
| growth | key emerg market help lift | growth | includ lowincom countri trade invest |
| countri | help lift growth includ lowincom | countri | trade invest financ also pleas |
| financ | includ lowincom countri trade invest | financ | also pleas say russia play |
| also | lowincom countri trade invest financ | also | pleas say russia play import |
| global | fit given russia import role | global | economi rememb job imf serv |
| economi | given russia import role global | economi | rememb job imf serv membership |
| need | must look like membership membership | need | see reflect us taken signific |
| market | shift quota share dynam emerg | market | develop countri member protect vote |
| countri | share dynam emerg market develop | countri | member protect vote share poorest |
| global | implement mean imf truli repres | global | membership mean abl serv member |
| econom | one boat ever interconnect world | econom | fortun rise fall togeth must |
| econom | fall togeth must navig stormi | econom | sea togeth chart common cours |
| econom | west asia europ old new | econom | order look see futur yes |
| economi | briefli discuss view outlook advanc | economi | risk face second turn assess |
| econom | face second turn assess asia | econom | outlook main risk region touch |
| polici | main risk region touch main | polici | challeng emerg asia background heighten |
| global | challeng emerg asia background heighten | global | uncertainti conclud remark outlook polici |
| polici | global uncertainti conclud remark outlook | polici | challeng philippin say summar follow |
| global | challeng philippin say summar follow | global | economi danger phase weaker outlook |
| economi | philippin say summar follow global | economi | danger phase weaker outlook growth |
| growth | economi danger phase weaker outlook | growth | rise risk negat feedback loop |
| economi | risk negat feedback loop real | economi | financi sector arisen unemploy advanc |
| economi | financi sector arisen unemploy advanc | economi | remain high perspect littl differ |
| also | perspect littl differ asia asia | also | vulner develop region especi trade |
| economi | risk financi contagion either advanc | economi | outlook risksth eurozon leader announc |
| also | europ percept u sovereign risk | also | worsen part reflect lack credibl |
| growth | fiscal consolid unit state consumpt | growth | like remain sluggish go forward |
| market | tax credit mid along equiti | market | loss crisi weak hous price |
| economi | high part reflect weak us | economi | also greater uncertainti evolut euro |
| also | part reflect weak us economi | also | greater uncertainti evolut euro area |
| market | area crisi relat spike financi | market | volatil global recoveri lost steam |
| global | relat spike financi market volatil | global | recoveri lost steam last month |
| economi | mark slowdown manufactur activ advanc | economi | forward look indic exampl pmi |
| growth | pmi indic general point weaker | growth | ahead septemb world econom outlook |
| econom | weaker growth ahead septemb world | econom | outlook forecast impli downward revis |
| growth | outlook forecast impli downward revis | growth | sinc april advanc economi percent |
| economi | revis growth sinc april advanc | economi | percent gdp particular u growth |
| growth | economi percent gdp particular u | growth | revis almost full percentag point |
| global | full percentag point taken togeth | global | growth expect continu percent larg |
| growth | percentag point taken togeth global | growth | expect continu percent larg owe |
| economi | still robust perform emerg develop | economi | nonetheless note growth advanc countri |
| growth | emerg develop economi nonetheless note | growth | advanc countri expect remain sluggish |
| countri | economi nonetheless note growth advanc | countri | expect remain sluggish well precrisi |
| global | mark tilt downsid moreov probabl | global | growth less percent common definit |
| growth | tilt downsid moreov probabl global | growth | less percent common definit global |
| global | growth less percent common definit | global | recess greater percent specif main |
| global | greater percent specif main risk | global | outlook euro area crisi run |
| market | impass fiscal consolid weak hous | market | rapid increas household save rate |
| economi | attent asia financi turbul advanc | economi | spill region particular august septemb |
| market | aftermath lehman brother bankruptci financi | market | seem stabil somewhat recent week |
| econom | strain remain elev coincid moder | econom | activ recent pmi read exampl |
| global | six month ago line weaker | global | outlook given recent develop recent |
| econom | develop recent asia pacif region | econom | outlook launch manila week ago |
| growth | manila week ago revis project | growth | region relat april outlook particular |
| growth | outlook particular china india project | growth | percent percent respect growth expect |
| growth | project growth percent percent respect | growth | expect slight moder half percentag |
| countri | moder half percentag point two | countri | china particular expect smooth move |
| economi | smooth move toward soft land | economi | continu grow enviabl pace china |
| global | china inde remain bright spot | global | economi although exuber properti market |
| economi | inde remain bright spot global | economi | although exuber properti market remain |
| market | global economi although exuber properti | market | remain concern recent measur cool |
| market | concern recent measur cool properti | market | seem cool effect market among |
| market | properti market seem cool effect | market | among major asean economi expect |
| economi | effect market among major asean | economi | expect growth slow modest philippin |
| growth | among major asean economi expect | growth | slow modest philippin expect growth |
| growth | growth slow modest philippin expect | growth | come percent econom activ expect |
| econom | philippin expect growth come percent | econom | activ expect pick percent percent |
| global | pick percent percent howev parallel | global | trend risk asia decid tilt |
| growth | high depend extern demand underpin | growth | especi true singapor malaysia taiwan |
| also | potenti sharp slowdown export would | also | exert substanti knockon effect domest |
| also | averag emerg asia financi contagion | also | risk panic equiti selloff across |
| global | august septemb illustr region vulner | global | shock intensif turmoil euro zone |
| polici | two main channel outlook mean | polici | emerg asia paus polici tighten |
| polici | mean polici emerg asia paus | polici | tighten warrant backdrop unusu uncertainti |
| econom | tighten warrant backdrop unusu uncertainti | econom | outlook start monetari polici room |
| polici | uncertainti econom outlook start monetari | polici | room paus vari across countri |
| countri | polici room paus vari across | countri | specif economi overh pressur mute |
| economi | paus vari across countri specif | economi | overh pressur mute global financi |
| global | specif economi overh pressur mute | global | financi linkag greater paus monetari |
| economi | monetari tighten may warrant contrast | economi | overh remain elev sensit global |
| global | economi overh remain elev sensit | global | demand relat smaller less room |
| also | less room paus tighten cycl | also | import underscor asian policymak need |
| need | also import underscor asian policymak | need | remain vigil regard balanc sheet |
| need | asset qualiti monetari tighten would | need | resum uncertainti global outlook reduc |
| global | tighten would need resum uncertainti | global | outlook reduc turn fiscal polici |
| polici | global outlook reduc turn fiscal | polici | return fiscal balanc neutral posit |
| economi | expect remain accommod mani asian | economi | indic cyclic adjust govern balanc |
| need | percent gdp appropri fiscal consolid | need | order build fiscal space deal |
| countri | natur disast well help meet | countri | press social infrastructur need upward |
| need | meet countri press social infrastructur | need | upward exchang rate flexibl would |
| also | contain remain inflationari pressur would | also | contribut rebal growth asia key |
| growth | pressur would also contribut rebal | growth | asia key mediumterm polici prioriti |
| polici | rebal growth asia key mediumterm | polici | prioriti turn next sever asian |
| need | outlook materi policymak asia would | need | respond swift global financi crisi |
| global | asia would need respond swift | global | financi crisi luckili asia fundament |
| polici | asia fundament relat good scope | polici | adjust much greater region world |
| polici | much greater region world macroeconom | polici | would revers gear monetari polici |
| polici | polici would revers gear monetari | polici | shift eas fiscal polici stimul |
| polici | monetari polici shift eas fiscal | polici | stimul activ countri fiscal space |
| countri | eas fiscal polici stimul activ | countri | fiscal space mani economi draw |
| economi | activ countri fiscal space mani | economi | draw larg accumul foreign exchang |
| market | foreign investor liquid posit local | market | final policymak revert extraordinari measur |
| global | introduc govern guarante liabil weak | global | demand confirm asia would great |
| growth | great benefit rapid progress rebalanc | growth | toward domest sourc demand global |
| global | growth toward domest sourc demand | global | imbal narrow global financi crisi |
| global | sourc demand global imbal narrow | global | financi crisi project reemerg medium |
| polici | continu downward trend anoth mediumterm | polici | prioriti make growth equit durabl |
| growth | anoth mediumterm polici prioriti make | growth | equit durabl incom inequ risen |
| econom | last two decad despit rapid | econom | growth notabl progress reduc poverti |
| growth | two decad despit rapid econom | growth | notabl progress reduc poverti common |
| growth | north africa import stress inclus | growth | econom rebalanc two side coin |
| econom | africa import stress inclus growth | econom | rebalanc two side coin measur |
| also | exampl better social safeti net | also | serv strengthen domest demand particular |
| economi | public spend health educ asian | economi | fall short level countri similar |
| countri | asian economi fall short level | countri | similar level develop demograph econom |
| econom | countri similar level develop demograph | econom | structur urban even account factor |
| growth | could import compon effort make | growth | asia inclus less reliant extern |
| growth | short longterm challengesturn philippin gdp | growth | slow first half owe lower |
| growth | first half owe lower export | growth | temporari dip public expenditur time |
| global | inflat expect come amid heighten | global | uncertainti moder inflat pressur monetari |
| countri | seem paus done sever asian | countri | well credit growth rapid howev |
| growth | sever asian countri well credit | growth | rapid howev need care monitor |
| need | well credit growth rapid howev | need | care monitor avoid buildup balancesheet |
| polici | avoid buildup balancesheet vulner fiscal | polici | meanwhil continu consolid help build |
| polici | meanwhil continu consolid help build | polici | space respond futur shock well |
| countri | futur shock well help address | countri | infrastructur social safetynet need stronger |
| need | address countri infrastructur social safetynet | need | stronger social safeti net higher |
| growth | stronger social safeti net higher | growth | need order build inclus develop |
| need | social safeti net higher growth | need | order build inclus develop poverti |
| growth | philippin develop plan focus make | growth | inclus includ increas infrastructur invest |
| growth | administr collect final build stronger | growth | philippin asean economi would involv |
| economi | build stronger growth philippin asean | economi | would involv infrastructur spend infrastructur |
| market | improv sinc still lag emerg | market | region exampl median electricitygener capac |
| market | asean approxim percent median emerg | market | also despit rapid spread telephon |
| also | approxim percent median emerg market | also | despit rapid spread telephon particular |
| economi | mobil phone past decad asean | economi | also continu lag behind emerg |
| also | phone past decad asean economi | also | continu lag behind emerg market |
| market | also continu lag behind emerg | market | stock telecommun infrastructur import estim |
| growth | invest therebi rais asean potenti | growth | conclus conclud remark would like |
| polici | remark would like emphas key | polici | challeng current background heighten global |
| global | polici challeng current background heighten | global | uncertainti thank attent |
| countri | iceland pay tribut remark achiev | countri | past year face incred difficult |
| global | offer other address today talk | global | econom challeng extrem sever urgent |
| econom | other address today talk global | econom | challeng extrem sever urgent right |
| polici | sever urgent right offer immedi | polici | prescript also tri teas lesson |
| also | right offer immedi polici prescript | also | tri teas lesson crisi futur |
| econom | tri teas lesson crisi futur | econom | outlooklet begin global econom outlook |
| global | crisi futur econom outlooklet begin | global | econom outlook overal expect global |
| econom | futur econom outlooklet begin global | econom | outlook overal expect global growth |
| global | global econom outlook overal expect | global | growth slow percent year next |
| growth | econom outlook overal expect global | growth | slow percent year next tempestu |
| economi | water recoveri look uneven advanc | economi | still weak bumpi unaccept high |
| economi | Â ½ percent compar advanc | economi | peer iceland reason well growth |
| growth | economi peer iceland reason well | growth | expect closer  ½ percent |
| market | ½ percent period meanwhil emerg | market | develop countri get growth  |
| countri | period meanwhil emerg market develop | countri | get growth  ½ percent |
| growth | emerg market develop countri get | growth | Â ½ percent rang tempestu |
| economi | dramat advers feedback loop real | economi | financi sector gain strength concern |
| polici | crisi confid uncertainti made wors | polici | indecis polit dysfunct without action |
| growth | face long lost decad low | growth | high unemploy even wors cannot |
| market | uncertainti risk avers dysfunct financi | market | unsustain debt dynam collaps global |
| global | market unsustain debt dynam collaps | global | demand dire circumst folli believ |
| market | dire circumst folli believ emerg | market | lowincom countri chart cours global |
| countri | folli believ emerg market lowincom | countri | chart cours global south take |
| global | market lowincom countri chart cours | global | south take littl comfort rise |
| global | take littl comfort rise tension | global | north economi would like sink |
| economi | comfort rise tension global north | economi | would like sink weight larg |
| growth | under vulner relat excess credit | growth | would cruelli expos iceland cours |
| econom | let never forget preserv sound | econom | polici protect welfar ordinari person |
| polici | never forget preserv sound econom | polici | protect welfar ordinari person graduat |
| econom | anoth job peopl face increas | econom | anxieti insecur increas vulner margin |
| polici | fear ordinari peopl includ imf | polici | optionsso far paint pretti gloomi |
| polici | gloomi pictur yet believ way | polici | path forward way regain econom |
| econom | polici path forward way regain | econom | stabil also way keep social |
| also | forward way regain econom stabil | also | way keep social fabric intact |
| economi | respons address crisi lie advanc | economi | especi europ unit state see |
| economi | number key prioriti first advanc | economi | wellanchor inflat expect monetari polici |
| polici | economi wellanchor inflat expect monetari | polici | stay accommod central bank deploy |
| need | central bank deploy unconvent measur | need | iceland cours differ posit mani |
| also | other inflat expect jump bit | also | lift capit control mean higher |
| polici | lift capit control mean higher | polici | interest rate second fiscal polici |
| polici | polici interest rate second fiscal | polici | focus strong credibl mediumterm consolid |
| also | credibl mediumterm consolid restor confid | also | creat space accommod growth job |
| growth | confid also creat space accommod | growth | job shortrun area iceland ahead |
| growth | alreadi creat space better support | growth | gradual fiscal consolid go forward |
| countri | forward cours avail space differ | countri | market pressur littl choic forg |
| market | cours avail space differ countri | market | pressur littl choic forg ahead |
| growth | ahead adjust other eas brake | growth | slow unit state propos american |
| need | american job act would provid | need | support third mani countri need |
| countri | provid need support third mani | countri | need make urgent progress financi |
| need | need support third mani countri | need | make urgent progress financi repair |
| growth | get credit flow turn boost | growth | hire policymak urg bank rais |
| market | ensur proper function sovereign debt | market | agreement reach coordin mechan recapit |
| polici | fund major step forward fifth | polici | dimens household balanc sheet repair |
| countri | term iceland ahead curv one | countri | take serious action reliev debt |
| polici | burden household firm broad contour | polici | path recoveri among advanc economi |
| economi | polici path recoveri among advanc | economi | region also part play advanc |
| also | recoveri among advanc economi region | also | part play advanc economi go |
| economi | region also part play advanc | economi | go underwat everybodi sink togeth |
| market | sink togeth particular key emerg | market | extern surplus need provid global |
| need | key emerg market extern surplus | need | provid global demand switch domest |
| global | market extern surplus need provid | global | demand switch domest sourc growth |
| growth | global demand switch domest sourc | growth | interest domest growth inclus growth |
| growth | domest sourc growth interest domest | growth | inclus growth peopl win global |
| growth | growth interest domest growth inclus | growth | peopl win global economi also |
| global | growth inclus growth peopl win | global | economi also win general emerg |
| economi | inclus growth peopl win global | economi | also win general emerg market |
| also | growth peopl win global economi | also | win general emerg market lowincom |
| market | economi also win general emerg | market | lowincom countri need prepar potenti |
| countri | win general emerg market lowincom | countri | need prepar potenti cold wind |
| need | general emerg market lowincom countri | need | prepar potenti cold wind blow |
| need | potenti cold wind blow north | need | rebuild polici buffer serv well |
| polici | wind blow north need rebuild | polici | buffer serv well crisi especi |
| countri | well crisi especi import lowincom | countri | home million margin vulner peopl |
| countri | bad decis made faraway place | countri | need continu advanc better target |
| need | decis made faraway place countri | need | continu advanc better target structur |
| growth | structur reform support employ sustain | growth | demand friend polici highvalu area |
| polici | employ sustain growth demand friend | polici | highvalu area move ahead tackl |
| growth | ahead tackl high unemploy support | growth | action also need progress enhanc |
| also | high unemploy support growth action | also | need progress enhanc suppli potenti |
| need | unemploy support growth action also | need | progress enhanc suppli potenti particular |
| economi | suppli potenti particular advanc surplus | economi | low potenti growth reform would |
| growth | advanc surplus economi low potenti | growth | reform would help sustain growth |
| growth | growth reform would help sustain | growth | spell thus pave condit improv |
| economi | condit improv incom equal across | economi | lesson crisisso far talk polici |
| polici | economi lesson crisisso far talk | polici | need stop hemorrhag also import |
| need | lesson crisisso far talk polici | need | stop hemorrhag also import take |
| also | talk polici need stop hemorrhag | also | import take step back look |
| global | learn number key lesson learn | global | economi incred complic interconnect saw |
| economi | number key lesson learn global | economi | incred complic interconnect saw riven |
| econom | riven financi fault line transmit | econom | tremor lightn speed direct iceland |
| need | iceland cours pain awar realiti | need | get better grasp vulner spillov |
| also | well identifi correct data gap | also | need improv global financi safeti |
| need | identifi correct data gap also | need | improv global financi safeti net |
| global | data gap also need improv | global | financi safeti net protect countri |
| countri | global financi safeti net protect | countri | sudden power econom fallout learn |
| econom | net protect countri sudden power | econom | fallout learn approach macroeconom polici |
| polici | econom fallout learn approach macroeconom | polici | somewhat narrow paid littl heed |
| polici | littl heed financi stabil monetari | polici | focus inflat growth great danger |
| growth | stabil monetari polici focus inflat | growth | great danger lurk screen soar |
| growth | soar asset price boom credit | growth | financi crucibl toxic asset larg |
| need | asset larg current account imbal | need | learn use new toolkit macroprudenti |
| polici | learn use new toolkit macroprudenti | polici | protect financi stabil maximum loantovalu |
| also | futur avoid repeat past excess | also | discov anew virtu fiscal polici |
| polici | also discov anew virtu fiscal | polici | crisi orthodox posit put auto |
| polici | auto pilot tinker much monetari | polici | ran steam fiscal polici came |
| polici | monetari polici ran steam fiscal | polici | came cold prop aggreg demand |
| econom | prop aggreg demand save world | econom | freefal learn financi sector poor |
| need | liquid standard work remain unfinish | need | better regul larg bank systemicallyimport |
| need | institut never hold taxpay ransom | need | better regul shadow bank system |
| need | bring risk light seen unseen | need | better regul deriv peopl call |
| need | danger dark matter financi system | need | improv supervis even best rule |
| countri | leaner simpler old one lesson | countri | perhap notion taxpay bear full |
| countri | mistak could one implement vari | countri | must risk turn financi crise |
| also | financi crise sovereign crise imf | also | believ financi sector undertax support |
| growth | twin goal macroeconom stabil sustain | growth | goal import ever often look |
| growth | decent job especi young peopl | growth | mani countri tend main benefit |
| countri | especi young peopl growth mani | countri | tend main benefit top fundament |
| growth | distribut good macroeconom stabil sustain | growth | born imf research must guid |
| polici | born imf research must guid | polici | need need growth support job |
| need | imf research must guid polici | need | need growth support job real |
| need | research must guid polici need | need | growth support job real risk |
| growth | must guid polici need need | growth | support job real risk lose |
| economi | peopl becom increas unmoor product | economi | bond societi econom polici must |
| econom | unmoor product economi bond societi | econom | polici must stay focus preserv |
| polici | product economi bond societi econom | polici | must stay focus preserv sustain |
| also | choos shortrun measur sustain recoveri | also | need inclus growth benefit whole |
| need | shortrun measur sustain recoveri also | need | inclus growth benefit whole societi |
| growth | sustain recoveri also need inclus | growth | benefit whole societi need polici |
| need | inclus growth benefit whole societi | need | polici reduc inequ need decent |
| polici | growth benefit whole societi need | polici | reduc inequ need decent social |
| need | societi need polici reduc inequ | need | decent social safeti net need |
| need | need decent social safeti net | need | fiscal polici take distribut account |
| polici | social safeti net need fiscal | polici | take distribut account need effort |
| need | fiscal polici take distribut account | need | effort bring everybodi labor market |
| market | need effort bring everybodi labor | market | need better access educ need |
| need | effort bring everybodi labor market | need | better access educ need better |
| need | market need better access educ | need | better financi regul rememb want |
| growth | financi regul rememb want sustain | growth | want macroeconom stabil need inclus |
| need | sustain growth want macroeconom stabil | need | inclus social cohes aftermath much |
| growth | spring bear fruit unleash inclus | growth | greater employ prospect human economi |
| economi | growth greater employ prospect human | economi | respect human digniti must also |
| also | economi respect human digniti must | also | point iceland proud social model |
| countri | protect social welfar system lesson | countri | crisi emul tremend achiev fruit |
| growth | form sustain inclus hope robust | growth | final crisi aftermath remind us |
| need | assur auspic g present hour | need | optimist g meet cann next |
| countri | way busi note cooper within | countri | within region equal import difficult |
| polici | street govern took lead propos | polici | analyz polici offer advic guidanc |
| polici | took lead propos polici analyz | polici | offer advic guidanc base long |
| countri | work well hope use learn | countri | well could also point ireland |
| also | use learn countri well could | also | point ireland strong tradit social |
| polici | subsidi conclusioni talk today shortterm | polici | need move global economi danger |
| need | conclusioni talk today shortterm polici | need | move global economi danger phase |
| global | today shortterm polici need move | global | economi danger phase well longerterm |
| economi | shortterm polici need move global | economi | danger phase well longerterm lesson |
| need | place prosper confid world get | need | concert action come week month |
| need | action come week month policymak | need | put asid shortterm polit partisan |
| global | polit partisan concern focus nation | global | good time timid past must |
| growth | must renew commit strong inclus | growth | must creat enough job bring |
| global | choic could mark new dawn | global | economi global economi success within |
| economi | could mark new dawn global | economi | global economi success within reach |
| global | mark new dawn global economi | global | economi success within reach courag |
| economi | new dawn global economi global | economi | success within reach courag grasp |
| global | pleasur today would like talk | global | region outlook talk region integr |
| countri | talk region integr imf help | countri | address challeng face especi africa |
| econom | face especi africa new challengesglob | econom | slowdownlet begin global econom outlook |
| global | new challengesglob econom slowdownlet begin | global | econom outlook overal expect global |
| econom | challengesglob econom slowdownlet begin global | econom | outlook overal expect global growth |
| global | global econom outlook overal expect | global | growth slow percent year next |
| growth | econom outlook overal expect global | growth | slow percent year next global |
| global | growth slow percent year next | global | number mask import differ advanc |
| economi | number mask import differ advanc | economi | epicent financi crisi recoveri still |
| global | manag anem  ½ percent | global | economi enter danger new phase |
| economi | anem  ½ percent global | economi | enter danger new phase recoveri |
| econom | consumpt invest job creation impos | econom | also social cost uncertainti exacerb |
| also | invest job creation impos econom | also | social cost uncertainti exacerb polici |
| polici | also social cost uncertainti exacerb | polici | indecis polit dysfunct across advanc |
| economi | indecis polit dysfunct across advanc | economi | key problem much debt system |
| economi | uncertainti hover sovereign across advanc | economi | bank europ household unit state |
| economi | state advers feedback loop real | economi | financi sector gain strength concern |
| market | twospe recoveryth stori differ emerg | market | develop countri growth project  |
| countri | stori differ emerg market develop | countri | growth project  ½ percent |
| growth | differ emerg market develop countri | growth | project  ½ percent rang |
| economi | evid anyth get starker advanc | economi | face cold headwind emerg market |
| market | economi face cold headwind emerg | market | develop countri face much heat |
| countri | cold headwind emerg market develop | countri | face much heat real bright |
| countri | much heat real bright spot | countri | harvest fruit sound econom polici |
| econom | spot countri harvest fruit sound | econom | polici accommod polici especi fiscal |
| polici | countri harvest fruit sound econom | polici | accommod polici especi fiscal stimulus |
| polici | fruit sound econom polici accommod | polici | especi fiscal stimulus help eas |
| countri | see sign overh inflationari pressur | countri | countri immun advers develop core |
| countri | sign overh inflationari pressur countri | countri | immun advers develop core economi |
| economi | countri immun advers develop core | economi | see number key risk first |
| market | key risk first continu financi | market | stress could lead larg abrupt |
| global | investor flee safeti second weaker | global | growth would hurt emerg market |
| growth | flee safeti second weaker global | growth | would hurt emerg market reduc |
| market | global growth would hurt emerg | market | reduc trade flow lower commod |
| global | flow lower commod price third | global | slowdown could expos under vulner |
| growth | expos under vulner excess credit | growth | vulner typic stay surfac good |
| polici | time downsid risk substanti without | polici | action halt vicious circl global |
| global | polici action halt vicious circl | global | economi could face protract period |
| economi | action halt vicious circl global | economi | could face protract period low |
| growth | could face protract period low | growth | high unemploy even wors cannot |
| market | uncertainti risk avers dysfunct financi | market | unsustain debt dynam collaps global |
| global | market unsustain debt dynam collaps | global | demand countri must stand readi |
| countri | debt dynam collaps global demand | countri | must stand readi deal spillov |
| economi | stand readi deal spillov advanc | economi | imf research show econom tremor |
| econom | advanc economi imf research show | econom | tremor core countri easili reverber |
| countri | research show econom tremor core | countri | easili reverber across globe especi |
| global | globe especi channel financi sector | global | responsesresolv crisi requir two key |
| global | demand switch public privat sector | global | demand switch extern deficit extern |
| market | demand domest demand key emerg | market | grown enough owe structur distort |
| polici | distort limit exchang rate flexibl | polici | gone halfway toward address debt |
| economi | toward address debt problem advanc | economi | achiev domest inclus growth emerg |
| growth | advanc economi achiev domest inclus | growth | emerg develop economi time finish |
| economi | domest inclus growth emerg develop | economi | time finish job policymak must |
| countri | sovereign bank household sovereign advanc | countri | need fiscal consolid matter prioriti |
| need | bank household sovereign advanc countri | need | fiscal consolid matter prioriti push |
| growth | matter prioriti push fast harm | growth | job credibl measur deliv anchor |
| growth | term help creat space support | growth | job short run policymak must |
| also | job short run policymak must | also | focus squar job creation high |
| also | creation high unemploy depress demand | also | lead grave human social cost |
| market | concentr among young unskil emerg | market | includ asia surplus countri must |
| countri | emerg market includ asia surplus | countri | must reli domest demand especi |
| growth | domest demand especi sinc domesticl | growth | also inclus growth deficit countri |
| also | demand especi sinc domesticl growth | also | inclus growth deficit countri includ |
| growth | sinc domesticl growth also inclus | growth | deficit countri includ latin america |
| countri | growth also inclus growth deficit | countri | includ latin america challeng reduc |
| economi | overh preserv financi stabil advanc | economi | greatest respons act must play |
| growth | interconnect world decoupl ultim goal | growth | inclus growth benefit everybodi growth |
| growth | decoupl ultim goal growth inclus | growth | benefit everybodi growth produc suffici |
| growth | growth inclus growth benefit everybodi | growth | produc suffici job african region |
| economi | contrast disappoint recent perform advanc | economi | subsaharan africa project output growth |
| growth | economi subsaharan africa project output | growth | year  ¼ percent rise |
| countri | africa howev consider divers lowincom | countri | well despit weak world economi |
| economi | countri well despit weak world | economi | one third expect grow percent |
| econom | price famin devast horn africa | econom | develop less posit middleincom countri |
| countri | econom develop less posit middleincom | countri | south africa particular hit hard |
| global | south africa particular hit hard | global | crisi unemploy remain stubborn high |
| growth | crisi unemploy remain stubborn high | growth | probabl limit  ½ percent |
| economi | high oil price nonoil sector | economi | project grow  ½ percent |
| also | europ spill european bank system | also | downsid risk outlook includ volatil |
| market | outlook includ volatil financi commod | market | well sign inflat may rise |
| polici | inflat may rise look ahead | polici | challeng africa becom trickier happen |
| economi | africa becom trickier happen advanc | economi | growth continu falter north south |
| growth | becom trickier happen advanc economi | growth | continu falter north south eventu |
| global | aid flow event increas impact | global | slowdown subject financ constraint polici |
| financ | increas impact global slowdown subject | financ | constraint polici focus maintain plan |
| polici | global slowdown subject financ constraint | polici | focus maintain plan prioriti spend |
| countri | howev slower grow most middleincom | countri | includ south africa yet see |
| polici | output employ return potenti level | polici | remain support output progress even |
| global | remain support output progress even | global | growth wane lowincom countri current |
| growth | support output progress even global | growth | wane lowincom countri current grow |
| countri | even global growth wane lowincom | countri | current grow increas pace polici |
| polici | countri current grow increas pace | polici | reaction slow shed accommod approach |
| countri | crisi result inflat rise number | countri | tighten monetari polici focus mediumterm |
| polici | rise number countri tighten monetari | polici | focus mediumterm object set fiscal |
| polici | focus mediumterm object set fiscal | polici | project output growth rise inflat |
| growth | set fiscal polici project output | growth | rise inflat time rebuild buffer |
| countri | previous crisi sinc mani african | countri | need invest infrastructur strengthen social |
| need | crisi sinc mani african countri | need | invest infrastructur strengthen social safeti |
| countri | revenu mobil must prioriti oilexport | countri | differ leagu better term trade |
| global | previous crisi cushion price volatil | global | slowdown time pursu develop goal |
| global | region integr help increas resili | global | downturn develop countri account half |
| countri | increas resili global downturn develop | countri | account half subsaharan africa export |
| economi | africa import reorient most driven | economi | brazil china india also substanti |
| also | driven economi brazil china india | also | substanti increas trade within subsaharan |
| also | within subsaharan africa similar reorient | also | take place invest flow china |
| countri | foreign direct invest region emerg | countri | also make consider invest subsaharan |
| also | direct invest region emerg countri | also | make consider invest subsaharan africa |
| economi | benefit includ gain compar advantag | economi | scale technolog transfer diversif export |
| market | scale technolog transfer diversif export | market | result closer engag develop countri |
| countri | market result closer engag develop | countri | includ within subsaharan africa foster |
| need | higher valuedad employ howev african | need | go far find new opportun |
| economi | africa region integr could rais | economi | scale region thus increas industri |
| market | among east africa communiti common | market | eastern southern africa southern africa |
| countri | prospect freetrad zone could cover | countri | popul million gdp us trillion |
| polici | support region integr harmon initi | polici | advic technic assist draw vast |
| also | experi afritac south inaugur today | also | contribut effort evolv role imfi |
| global | distinct challeng region interconnect world | global | issu also african issu strengthen |
| also | region interconnect world global issu | also | african issu strengthen abil prevent |
| global | tri better understand interconnect run | global | economi focus ever vulner spillov |
| economi | better understand interconnect run global | economi | focus ever vulner spillov run |
| economi | interconnect world clear import africa | economi | given depend happen advanc economi |
| economi | economi given depend happen advanc | economi | also tri improv global monitor |
| also | given depend happen advanc economi | also | tri improv global monitor capit |
| global | advanc economi also tri improv | global | monitor capit flow becom import |
| growth | flow becom import issu africa | growth | frontier market like mauritius find |
| market | import issu africa growth frontier | market | like mauritius find favor intern |
| countri | flow bring mani benefit recipi | countri | also come risk macroeconom financi |
| also | bring mani benefit recipi countri | also | come risk macroeconom financi stabil |
| growth | imf seek sharpen awar qualiti | growth | within countri poor distribut incom |
| countri | sharpen awar qualiti growth within | countri | poor distribut incom high unemploy |
| growth | unemploy implic macroeconom stabil sustain | growth | social stabil demonstr arab spring |
| need | social stabil demonstr arab spring | need | broaden rang indictor look assess |
| econom | broaden rang indictor look assess | econom | health countri realli area expertis |
| countri | indictor look assess econom health | countri | realli area expertis must collabor |
| polici | ilo across number dimens includ | polici | behind jobcreat growth zambia one |
| growth | dimens includ polici behind jobcreat | growth | zambia one pilot case enhanc |
| also | ilo intern trade union confeder | also | work ilo build effect social |
| countri | effect social protect floor lowincom | countri | mozambiqu pilot respect lendingi think |
| countri | crisi drew line sand help | countri | reduc contagion includ african countri |
| countri | countri reduc contagion includ african | countri | also chang way lend make |
| also | reduc contagion includ african countri | also | chang way lend make lend |
| countri | program flexibl streamlin condit stress | countri | ownership protect social spend concession |
| countri | social spend concession lend lowincom | countri | jump sharpli crisi fund seek |
| also | concession lend capac provid billion | also | cancel interest payment end perman |
| need | differ lend facil reflect divers | need | membership better adopt flexibl approach |
| countri | adopt flexibl approach debt give | countri | lower debt vulner greater capac |
| countri | studi show health educ spend | countri | imf program increas faster develop |
| countri | imf program increas faster develop | countri | whole crisi also took step |
| also | faster develop countri whole crisi | also | took step enhanc liquid provis |
| financ | bank system risk board region | financ | arrang technic assistancecapac build core |
| polici | core part imf work sound | polici | must built sound foundat strong |
| econom | critic sound macroeconom manag ultim | econom | develop inclus growth technic assist |
| growth | manag ultim econom develop inclus | growth | technic assist capac build bring |
| countri | center fourth africa total number | countri | cover afritac reach finish plan |
| countri | three key advantag first built | countri | ownership second proxim action great |
| global | urgent challeng well complex interdepend | global | economi everybodi must voic tabl |
| economi | challeng well complex interdepend global | economi | everybodi must voic tabl includ |
| global | share goal stronger resili inclus | global | economi let continu work togeth |
| economi | goal stronger resili inclus global | economi | let continu work togeth uncertain |
| econom | let continu work togeth uncertain | econom | time thank |
| market | pressur persist despit ecb intervent | market | tension fuel perceiv lack cohes |
| polici | fuel perceiv lack cohes european | polici | maker concern resili bank speed |
| countri | concern resili bank speed adjust | countri | level soften global growth outlook |
| global | speed adjust countri level soften | global | growth outlook add uncertainti given |
| growth | adjust countri level soften global | growth | outlook add uncertainti given backdrop |
| need | framework eu aren immedi matter | need | address yes european leader recogn |
| also | cloud uncertainti hang bank sovereign | also | highlight europ need articul common |
| need | bank sovereign also highlight europ | need | articul common vision futur look |
| econom | clear demonstr uniti behind project | econom | monetari union need reduc market |
| need | behind project econom monetari union | need | reduc market uncertainti otherwis econom |
| market | econom monetari union need reduc | market | uncertainti otherwis econom tension persist |
| econom | need reduc market uncertainti otherwis | econom | tension persist establish common approach |
| market | approach bank system within singl | market | critic element vision euro area |
| econom | ought function futur aspect notabl | econom | govern fiscal integr today focus |
| econom | consult report recent octob region | econom | outlook europ furthermor year imf |
| global | crisi start root combin common | global | factor vulner individu countri decad |
| countri | common global factor vulner individu | countri | decad preced crisi global financi |
| global | individu countri decad preced crisi | global | financi market character high liquid |
| market | decad preced crisi global financi | market | character high liquid low risk |
| econom | liquid low risk premia stabl | econom | environ financi integr euro area |
| also | came fore liquid dri ideolog | also | play role belief lighttouch regul |
| market | play role belief lighttouch regul | market | disciplin would suffic ensur effici |
| market | suffic ensur effici stabl financi | market | crisi prove belief wrong mechan |
| market | prove belief wrong mechan selfregul | market | disciplin corpor govern intern risk |
| market | creditor fail prevent buildup risk | market | player also anticip bailout big |
| also | prevent buildup risk market player | also | anticip bailout big fail institut |
| countri | big fail institut addit mani | countri | includ ireland author wrong consid |
| polici | behavior suffici alarm requir assert | polici | respons europ critic junctur earlier |
| global | explain mani european bank larg | global | remain respons home countri fail |
| countri | larg global remain respons home | countri | fail bank failur potenti threaten |
| also | case mani featur weak sovereign | also | damag domest bank balanc sheet |
| economi | mechan weak bank curtail credit | economi | advers affect econom growth reduc |
| econom | curtail credit economi advers affect | econom | growth reduc tax revenu weaker |
| growth | credit economi advers affect econom | growth | reduc tax revenu weaker sovereign |
| market | ireland task eu policymak convinc | market | particip determin undo gordian knot |
| need | sourc flexibl effici use efsf | need | provis liquid ecb also necessari |
| also | efsf need provis liquid ecb | also | necessari sovereign bank fund pressur |
| polici | timet look beyond crisi manag | polici | eu need truli integr financi |
| need | beyond crisi manag polici eu | need | truli integr financi system help |
| econom | financi system help restor strong | econom | growth european busi must abl |
| growth | system help restor strong econom | growth | european busi must abl access |
| growth | resolut essenti reform enhanc confid | growth | urgent ever describ key element |
| also | fourth financi regul macroprudenti oversight | also | touch briefli issu propos eurobond |
| need | bond turn specif two point | need | born mind euwid deposit insur |
| countri | destabil bank run deposit base | countri | weak sovereign becom fragil depositor |
| countri | abrupt shift deposit institut base | countri | particular common currenc euro area |
| need | currenc euro area two step | need | prevent destabil crossbord movement deposit |
| countri | deposit guarante scheme unfund mani | countri | fiscal posit could affect signific |
| countri | failur larg institut second member | countri | aim pan euschem reach common |
| need | reach common agreement condit would | need | met term coordin cooper fiscal |
| need | harmon make scheme work would | need | collect back member countri scheme |
| countri | would need collect back member | countri | scheme complement resolut compon would |
| also | scheme complement resolut compon would | also | help deal effici failur crossbord |
| market | addit euschem could borrow financi | market | appropri back member countri financ |
| countri | financi market appropri back member | countri | financ depositor payout euro area |
| financ | market appropri back member countri | financ | depositor payout euro area consider |
| need | common backstop eu level end | need | nation financ common paneuropean backstop |
| financ | eu level end need nation | financ | common paneuropean backstop would help |
| countri | cost fall exclus taxpay home | countri | born euwid resolut fund experi |
| also | born euwid resolut fund experi | also | shown crisi situat involv crossbord |
| need | solut requir resolut author would | need | decis make structur allow effect |
| countri | group remain main respons home | countri | supervisor obtain global yet detail |
| global | respons home countri supervisor obtain | global | yet detail view activ bank |
| countri | supervisor must cooper effect supervisor | countri | group oper establish colleg supervisor |
| countri | may system point view host | countri | group whole particip colleg also |
| also | countri group whole particip colleg | also | resourc intens reach joint agreement |
| countri | joint agreement may unwieldi mani | countri | involv may also legal constraint |
| also | unwieldi mani countri involv may | also | legal constraint share inform imped |
| need | macroprudenti oversightth european bank system | need | effect regulatori regim eu commiss |
| need | iii howev propos fall short | need | reform two key dimens first |
| market | european bank system principl singl | market | base common rule book import |
| need | basel committe high capit buffer | need | address high prevail balanc sheet |
| also | iii minimum low european bank | also | sovereign exposur intraeu exposur still |
| need | bank general intern regulatori communiti | need | examin appropri treatment risk class |
| market | like loss key ingredi improv | market | sentiment toward ireland second crd |
| polici | flexibl nation level implement macroprudenti | polici | propos legisl grant new power |
| need | effect macroprudenti instrument general flexibl | need | allow nation author introduc various |
| also | effect macroprudenti measur new eurul | also | ensur reciproc applic macroprudenti tool |
| also | pillar ii measur reciproc mandat | also | argu euro area consult report |
| also | interconnected nation financi system esrb | also | ensur coordin macroprudenti instrument eu |
| market | architectur euro area ensur effect | market | disciplin strengthen governancelet finish remark |
| countri | establish bond common euro area | countri | eurobond propos would requir joint |
| countri | joint sever guarante euro area | countri | european safe bond esbi propos |
| financ | two dimens first must provid | financ | euro area sovereign reason interest |
| need | buffer propos pool risk make | need | fiscal govern even stronger strong |
| also | feder entiti new framework could | also | requir altern mechan exant risk |
| need | financi integr trust financi system | need | restor need protect twin fiscalfinanci |
| need | trust financi system need restor | need | protect twin fiscalfinanci crise mani |
| countri | protect twin fiscalfinanci crise mani | countri | face much work underway global |
| global | countri face much work underway | global | learn appli lesson crisi europ |
| market | environ crisi requir convinc skeptic | market | europ make bold unifi decis |
| economi | confer challeng face lowincom asian | economi | also happi welcom japan devast |
| also | challeng face lowincom asian economi | also | happi welcom japan devast earthquak |
| countri | march whole intern communiti includ | countri | shown warm sympathi japanes peopl |
| also | japanes peopl toward reconstruct let | also | thank jica help organ confer |
| also | jica insight base intellectu prowess | also | practic expertis field sens hope |
| economi | lowincom asia imf role assist | economi | past progress new risksov past |
| countri | decad wit remark transform lowincom | countri | strong econom growth lift million |
| econom | remark transform lowincom countri strong | econom | growth lift million peopl abject |
| growth | transform lowincom countri strong econom | growth | lift million peopl abject poverti |
| global | lift million peopl abject poverti | global | world economi provid new opportun |
| economi | peopl abject poverti global world | economi | provid new opportun growth impress |
| growth | world economi provid new opportun | growth | impress perform testament hard work |
| global | news good food fuel crisi | global | financi crisi follow devast poor |
| global | could plung addit million peopl | global | poverti even though rise commod |
| economi | price may benefit commod export | economi | time downsid risk global growth |
| global | export economi time downsid risk | global | growth increas mark time capac |
| growth | economi time downsid risk global | growth | increas mark time capac mani |
| countri | mark time capac mani lowincom | countri | absorb shock yet rebuilt recent |
| also | shock yet rebuilt recent crise | also | lowincom countri remain vulner continu |
| countri | rebuilt recent crise also lowincom | countri | remain vulner continu commod price |
| countri | poverti short although mani lowincom | countri | cope well global financi crisi |
| global | mani lowincom countri cope well | global | financi crisi stage rapid recoveri |
| growth | good perform toward sustain inclus | growth | navig storm rebuild resilienceso polici |
| polici | growth navig storm rebuild resilienceso | polici | need challeng time best lowincom |
| need | navig storm rebuild resilienceso polici | need | challeng time best lowincom countri |
| countri | need challeng time best lowincom | countri | rebuild resili shock question easi |
| global | shock question easi answer uncertain | global | environ requir vari respons differ |
| countri | environ requir vari respons differ | countri | accord countryspecif circumst instanc event |
| countri | instanc event sharp downturn lowincom | countri | author right focus mitig impact |
| growth | author right focus mitig impact | growth | protect vulner howev case scope |
| polici | howev case scope countercycl fiscal | polici | becom limit other monetari exchang |
| polici | limit other monetari exchang rate | polici | constrain need restor extern price |
| need | monetari exchang rate polici constrain | need | restor extern price stabil limit |
| polici | restor extern price stabil limit | polici | space could weigh abil author |
| economi | stabil moreov possibl key advanc | economi | succumb prolong sluggish recoveri bring |
| economi | prolong sluggish recoveri bring world | economi | whole period anem activ scenario |
| polici | activ scenario materi realign macroeconom | polici | may becom necessari spike global |
| global | polici may becom necessari spike | global | commod price rise also present |
| also | spike global commod price rise | also | present lowincom countri difficult tradeoff |
| countri | price rise also present lowincom | countri | difficult tradeoff inflat extern social |
| polici | accommod firstround impact inflat limit | polici | space could weigh abil author |
| countri | want make three suggest lowincom | countri | first build self insur still |
| economi | structur chang boost longerterm resili | economi | diversifi over depend product trade |
| economi | better abl withstand shock diversifi | economi | also like deliv inclus growth |
| also | abl withstand shock diversifi economi | also | like deliv inclus growth growth |
| growth | economi also like deliv inclus | growth | growth creat job peopl share |
| growth | also like deliv inclus growth | growth | creat job peopl share benefit |
| growth | matter longrun stabil enhanc longterm | growth | potenti look issu educ privat |
| econom | look issu educ privat deregul | econom | trade liber privat invest financi |
| countri | broad extrem challeng agenda lowincom | countri | chart cours set prioriti donor |
| need | dialogu imf listen even care | need | lowincom countri member help us |
| countri | listen even care need lowincom | countri | member help us serv even |
| also | help us serv even effect | also | made lend instrument flexibl two |
| countri | lend window billion doubl amount | countri | draw also cut interest rate |
| also | billion doubl amount countri draw | also | cut interest rate concession lend |
| polici | debt sustain framework debt limit | polici | help countri meet twin challeng |
| countri | framework debt limit polici help | countri | meet twin challeng invest effici |
| financ | twin challeng invest effici infrastructur | financ | invest sustain manner part thank |
| countri | year thirti fundsupport program lowincom | countri | global asiapacif region sinc crisi |
| global | thirti fundsupport program lowincom countri | global | asiapacif region sinc crisi fund |
| countri | extend financi assist three lowincom | countri | maldiv mongolia solomon island potenti |
| countri | maldiv mongolia solomon island potenti | countri | may join conclus help lic |
| countri | lic help themselvesin conclus lowincom | countri | achiev remark gain recent year |
| countri | gain threat challeng low incom | countri | cannot tackl low incom countri |
| countri | countri cannot tackl low incom | countri | alon part challeng face global |
| global | countri alon part challeng face | global | economi whole must part low |
| economi | alon part challeng face global | economi | whole must part low incom |
| countri | whole must part low incom | countri | must take right step toward |
| growth | take right step toward resili | growth | emerg economi must strengthen econom |
| economi | step toward resili growth emerg | economi | must strengthen econom fundament rebal |
| econom | growth emerg economi must strengthen | econom | fundament rebal growth driver advanc |
| growth | must strengthen econom fundament rebal | growth | driver advanc economi must quick |
| economi | fundament rebal growth driver advanc | economi | must quick take measur calm |
| market | must quick take measur calm | market | ensur longterm fiscal sustain imf |
| countri | endeavor needless say work lowincom | countri | imf work close donor communiti |
| countri | valu high effort believ lowincom | countri | abl withstand new phase crisi |
| polici | prove use go home engag | polici | develop main theme confer infrastructur |
| growth | nurtur fertil ground sustain inclus | growth | countri thank much attent |
| countri | fertil ground sustain inclus growth | countri | thank much attent |
| countri | critic fiscal issu number member | countri | includ asia remark would like |
| economi | interrel topic first state world | economi | second fiscal develop across globe |
| countri | develop across globe fiscal challeng | countri | face third health care reform |
| global | first topic almost three year | global | financi crisi world econom growth |
| econom | year global financi crisi world | econom | growth continu weak latest project |
| growth | global financi crisi world econom | growth | continu weak latest project indic |
| global | continu weak latest project indic | global | growth moder percent percent econom |
| growth | weak latest project indic global | growth | moder percent percent econom activ |
| econom | global growth moder percent percent | econom | activ major advanc economi unit |
| economi | percent econom activ major advanc | economi | unit state euro area japan |
| countri | pictur much brighter emerg develop | countri | howev expect solid growth percent |
| growth | develop countri howev expect solid | growth | percent fiscal develop prospectsthi take |
| global | percent fiscal develop prospectsthi take | global | fiscal develop prospect weaken world |
| economi | fiscal develop prospect weaken world | economi | made task fiscal polici even |
| polici | world economi made task fiscal | polici | even difficult mani advanc economi |
| economi | polici even difficult mani advanc | economi | alreadi financi crisi result great |
| financ | recess left deep dent public | financ | averag general govern gross debt |
| countri | averag general govern gross debt | countri | project rise percent gdp year |
| countri | ii high level debt expos | countri | confid crise even absenc crise |
| growth | even absenc crise burden potenti | growth | countri author need send clear |
| countri | absenc crise burden potenti growth | countri | author need send clear signal |
| need | burden potenti growth countri author | need | send clear signal commit bring |
| polici | run risk sharp tighten fiscal | polici | near term could choke econom |
| econom | polici near term could choke | econom | recoveri delic stage short dilemma |
| polici | recoveri delic stage short dilemma | polici | maker face much littl consolid |
| countri | much littl consolid could destabil | countri | market pressur choic begin signific |
| market | littl consolid could destabil countri | market | pressur choic begin signific deficit |
| econom | may space gradual consolid keep | econom | cycl long make credibl commit |
| market | term euro area concern financi | market | govern debt spread beyond smaller |
| economi | govern debt spread beyond smaller | economi | happen spite progress countri made |
| countri | smaller economi happen spite progress | countri | made reduc budget deficit common |
| countri | deficit common measur much progress | countri | make improv fiscal posit chang |
| econom | chang budget balanc adjust effect | econom | activ govern revenu expenditur base |
| countri | Â ¼ percent gdp furthermor | countri | made progress clarifi mediumterm fiscal |
| countri | institut reform underway mani european | countri | sever countri also undertaken measur |
| countri | underway mani european countri sever | countri | also undertaken measur improv sustain |
| also | mani european countri sever countri | also | undertaken measur improv sustain pension |
| polici | state year although deficit current | polici | would declin mark sharp withdraw |
| growth | fiscal stimulus time downward risk | growth | remain signific could riski adopt |
| growth | fiscal adjust would consist uncertain | growth | outlook essenti compon credibl mediumterm |
| also | without addit reform higher revenu | also | need widen tax base phase |
| need | addit reform higher revenu also | need | widen tax base phase tax |
| economi | plan fiscal adjust underway emerg | economi | year especi asia europ project |
| economi | project continu nevertheless sever emerg | economi | fiscal posit weaker crisi despit |
| economi | fiscal adjust remain appropri emerg | economi | case acceler unless growth outlook |
| growth | emerg economi case acceler unless | growth | outlook weaken signific respect current |
| countri | role health care reform play | countri | fiscal adjust plan given past |
| growth | adjust plan given past trend | growth | agerel spend age popul would |
| economi | viabl strategi fiscal adjust advanc | economi | would thus stabil health pension |
| polici | current project hear morn unchang | polici | public health spend project rise |
| economi | point gdp next year advanc | economi | project increas health spend advanc |
| also | place era tight budget constraint | also | necessari improv effici spend ensur |
| economi | increas resourc fortun policymak advanc | economi | draw lesson past help guid |
| growth | past help guid effort slow | growth | public health spend without harm |
| countri | effici best combin reform cours | countri | specif emerg economi challeng pose |
| economi | reform cours countri specif emerg | economi | challeng pose health reform differ |
| countri | reform differ emerg asia mani | countri | fiscal space could use help |
| polici | reform among complex area public | polici | mani imperfect health market make |
| market | public polici mani imperfect health | market | make undesir leav sector entir |
| market | undesir leav sector entir privat | market | alloc resourc furthermor mani countri |
| countri | market alloc resourc furthermor mani | countri | desir access basic health care |
| countri | care howev vari signific across | countri | light complex import learn differ |
| countri | light complex import learn differ | countri | experi health care reform particular |
| growth | reform particular interest reform contain | growth | public spend without advers affect |
| economi | success fiscal consolid effort advanc | economi | requir contain growth agerel public |
| growth | effort advanc economi requir contain | growth | agerel public spend includ health |
| economi | public spend includ health emerg | economi | fiscal space increas spend help |
| also | deliv today per jacobsson lectur | also | special honour first german deliv |
| also | otto pà ¶ hl appear | also | former presid bundesbank time talk |
| econom | big step toward closer polit | econom | union howev subject chosen today |
| global | director imf would like focus | global | issu among press issu level |
| also | diverg current account posit problem | also | high agenda g framework achiev |
| growth | framework achiev strong sustain balanc | growth | analyt level central mechan reduc |
| also | system alway subject intens discuss | also | profound chang prior world war |
| global | world war ii immedi war | global | system fix exchang rate instal |
| countri | account imbal imf design assist | countri | current account deficit role came |
| market | import latin american crise emerg | market | crise nevertheless great moder set |
| global | lose signific anoth crisi hit | global | financi crisi follow sharp econom |
| econom | global financi crisi follow sharp | econom | downturn given sever crisi ask |
| global | nation crisi might quick assum | global | charact spread close link financi |
| global | close link financi system second | global | financi system global real economi |
| global | system second global financi system | global | real economi intertwin financi crisi |
| economi | global financi system global real | economi | intertwin financi crisi sever affect |
| economi | financi crisi sever affect real | economi | emerg advanc economi regard relat |
| economi | affect real economi emerg advanc | economi | regard relat emerg advanc economi |
| economi | economi regard relat emerg advanc | economi | obvious econom weight shift emerg |
| econom | relat emerg advanc economi obvious | econom | weight shift emerg economi act |
| economi | obvious econom weight shift emerg | economi | act import stabilis height crisi |
| economi | height crisi wherea major advanc | economi | face rather modest outlook growth |
| growth | economi face rather modest outlook | growth | time longer enjoy status doubtfre |
| global | first crisi emphasis imf indispens | global | institut play crucial role fight |
| global | crucial role fight financi crisi | global | level also regard sovereign debt |
| also | fight financi crisi global level | also | regard sovereign debt crisi europ |
| global | provid imf essenti increas resili | global | economi futur crise perhap obvious |
| economi | imf essenti increas resili global | economi | futur crise perhap obvious case |
| growth | perhap obvious case g framework | growth | mutual assess process benefit immens |
| market | inadequ institut arrang mistak made | market | particip policymak alik thus ultim |
| global | part current debat first context | global | financi safeti net second context |
| global | manag let us begin thought | global | financi safeti net subject direct |
| global | net subject direct relev imf | global | financi safeti netsa core problem |
| market | core problem financi crisi money | market | liter dri longer abl provid |
| need | particular affect bank foreign currenc | need | bank usual access refinanc oper |
| market | foreign jurisdict thus depend money | market | obtain foreign currenc fund counter |
| financ | precommit central bank cover potenti | financ | need imf time stress howev |
| need | central bank cover potenti financ | need | imf time stress howev commit |
| polici | result unwarr interfer member monetari | polici | well moral hazard issu central |
| also | turn reduc incent riski behaviour | also | imf world central bank lender |
| need | place exist instrument cover liquid | need | stay within resourc envelop fundament |
| need | fundament main lesson financi crisi | need | better regul financi market environ |
| market | crisi need better regul financi | market | environ would true safeti net |
| financ | intern system vein argument transfer | financ | side imf idea grant imf |
| market | sdr bond rais fund capit | market | current discuss would replac provis |
| financ | logic central bank withdraw imf | financ | mechan altogeth leav financi respons |
| financ | altogeth leav financi respons ministri | financ | case world bank introduc sdr |
| also | sdr bond would current propos | also | extend imf lend capac sinc |
| countri | virtual fund limit anymor member | countri | would fact guarante amount rais |
| countri | addit debt time adjust effort | countri | borrow imf could impair given |
| market | resourc practic perspect generat secondari | market | sdr bond suffici critic mass |
| also | sdr alloc use sdrs offici | also | privat sector would influenc global |
| global | also privat sector would influenc | global | liquid condit even interfer monetari |
| polici | liquid condit even interfer monetari | polici | central bank issu major reserv |
| also | major reserv currenc imf could | also | distort risk assess intern financi |
| market | distort risk assess intern financi | market | would pay riskfre interest rate |
| financ | would pay riskfre interest rate | financ | suggest comment invest resourc riski |
| countri | invest resourc riski asset crisi | countri | would lower refinanc cost countri |
| countri | countri would lower refinanc cost | countri | question unless balanc strict expost |
| global | whether structur e standardis approach | global | financi safeti net make sens |
| also | approach proven effect recent crisi | also | convinc need chang facil recent |
| need | effect recent crisi also convinc | need | chang facil recent introduc alreadi |
| market | reserv currenc central bank demand | market | credibl hard imagin subsum independ |
| need | manag coordin everi crisi differ | need | differ crisi manag manag capit |
| market | capit flow wake crisi emerg | market | experienc high inflow foreign capit |
| also | bear threat sudden revers might | also | contribut buildup unsustain bubbl consequ |
| global | capit flow manag enhanc nation | global | financi stabil long stabil ensur |
| also | circumst high volatil capit flow | also | clear countri need room manoeuvr |
| countri | volatil capit flow also clear | countri | need room manoeuvr formul polici |
| need | capit flow also clear countri | need | room manoeuvr formul polici mix |
| polici | countri need room manoeuvr formul | polici | mix background countryspecif circumst order |
| global | circumst order enhanc financi stabil | global | level would help regard common |
| polici | never use buttress unsustain distortionari | polici | thus delay necessari adjust economi |
| economi | polici thus delay necessari adjust | economi | capit flow measur therefor never |
| polici | substitut sound monetari fiscal regulatori | polici | rather use extrem situat add |
| global | settlement imf play enhanc role | global | monitor capit flow close cooper |
| global | institut prioritis close data gap | global | capit flow member benefit substanti |
| polici | technic expertis fund advis appropri | polici | respons volatil capit flow fund |
| need | manag exist set instrument demand | need | imf act world central bank |
| global | imf act world central bank | global | lender last resort imf princip |
| global | extern imbal exist address problem | global | ramif requir cooper approach global |
| global | global ramif requir cooper approach | global | level consequ g introduc framework |
| growth | framework achiev strong sustain balanc | growth | current challeng phase even import |
| economi | challeng phase even import individu | economi | contribut global stabil economi larg |
| global | even import individu economi contribut | global | stabil economi larg current account |
| economi | individu economi contribut global stabil | economi | larg current account surplus china |
| countri | flexibl work toward full convert | countri | larg current account deficit consolid |
| financ | current account deficit consolid public | financ | quick possibl even countri balanc |
| countri | public financ quick possibl even | countri | balanc current account contribut global |
| global | countri balanc current account contribut | global | stabil case point european monetari |
| also | crisi would benefici nation region | also | intern level face global challeng |
| global | region also intern level face | global | challeng requir global respons us |
| global | level face global challeng requir | global | respons us contribut |
| global | flag member remind us one | global | economi interconnect never power feel |
| economi | member remind us one global | economi | interconnect never power feel feel |
| global | power feel feel see morn | global | membership one place imf spirit |
| econom | today week month ahead collect | econom | fortun advanc fall back need |
| need | econom fortun advanc fall back | need | act need act togeth context |
| need | advanc fall back need act | need | act togeth context want talk |
| global | talk three issu first state | global | economyyou seen forecast releas earlier |
| global | releas earlier week overal expect | global | growth slow percent year next |
| growth | earlier week overal expect global | growth | slow percent year next advanc |
| economi | slow percent year next advanc | economi | manag anem  ½ percent |
| growth | propel negat feedback loop weak | growth | weak balanc sheet among sovereign |
| econom | commit led crisi confid impos | econom | also social cost yes emergingmarket |
| also | led crisi confid impos econom | also | social cost yes emergingmarket lowincom |
| countri | social cost yes emergingmarket lowincom | countri | better harvest fruit sound polici |
| polici | countri better harvest fruit sound | polici | choic make mistak global south |
| global | sound polici choic make mistak | global | south immun misstep global north |
| global | mistak global south immun misstep | global | north enter call danger new |
| polici | new phase yet way forward | polici | option narrow mean option let |
| growth | path forwardwhat want inclus jobcreat | growth | must goal today risk lose |
| growth | goal today risk lose battl | growth | dark cloud europ huge uncertainti |
| global | uncertainti unit state risk collaps | global | demand challeng could urgent interconnect |
| economi | address current crisi lie advanc | economi | see three polici imper fiscal |
| polici | lie advanc economi see three | polici | imper fiscal monetari financi structur |
| polici | fiscal monetari financi structur fiscal | polici | must navig twin threat undermin |
| countri | undermin credibl undercut recoveri advanc | countri | need fiscal consolid matter prioriti |
| need | credibl undercut recoveri advanc countri | need | fiscal consolid matter prioriti push |
| growth | matter prioriti push fast harm | growth | job pace must neither hesit |
| countri | less dilemma question time confid | countri | solid measur anchor save medium |
| growth | long term short term accommod | growth | amount avail space depend cours |
| countri | amount avail space depend cours | countri | circumst monetari polici given inflat |
| polici | depend cours countri circumst monetari | polici | given inflat expect general well |
| need | readi dive back unconvent water | need | done recent day turn financi |
| growth | bank balanc sheet lend fuel | growth | adequ face uncertain time confid |
| also | adequ face uncertain time confid | also | need stronger consist implement financi |
| need | face uncertain time confid also | need | stronger consist implement financi regul |
| growth | less like still boost competit | growth | advanc economi must continu structur |
| economi | still boost competit growth advanc | economi | must continu structur reform product |
| market | continu structur reform product labor | market | confront vest interest servic sector |
| also | flourish grow creat valu must | also | pay close attent social dimens |
| growth | pay close attent social dimens | growth | alon enough need growth support |
| need | social dimens growth alon enough | need | growth support job must lose |
| growth | dimens growth alon enough need | growth | support job must lose generat |
| need | must lose generat young peopl | need | inclus growth benefit whole societi |
| growth | generat young peopl need inclus | growth | benefit whole societi need decent |
| need | inclus growth benefit whole societi | need | decent social safeti net polici |
| polici | need decent social safeti net | polici | path world largest economi unit |
| economi | net polici path world largest | economi | unit state eurozon particular special |
| countri | sovereign bank debt deal togeth | countri | heart crisi must implement program |
| economi | commit far focus respons advanc | economi | believ right forefront crisi decis |
| need | brazilian design chines entrepreneur cours | need | look ahead ultim object rebalanc |
| global | look ahead ultim object rebalanc | global | economi achiev must play part |
| economi | ahead ultim object rebalanc global | economi | achiev must play part mani |
| market | must play part mani emerg | market | growth resili extern surplus countri |
| growth | play part mani emerg market | growth | resili extern surplus countri need |
| countri | market growth resili extern surplus | countri | need reli domest demand especi |
| need | growth resili extern surplus countri | need | reli domest demand especi asia |
| need | reli domest demand especi asia | need | generat inclus growth finish job |
| growth | especi asia need generat inclus | growth | finish job start histor reduct |
| also | histor reduct poverti past decad | also | help propel global recoveri emerg |
| global | past decad also help propel | global | recoveri emerg market current account |
| market | help propel global recoveri emerg | market | current account deficit includ latin |
| countri | overh preserv financi stabil lowincom | countri | must play role rebuild polici |
| polici | countri must play role rebuild | polici | buffer serv well crisi invest |
| growth | buffer serv well crisi invest | growth | employ creation intern communiti must |
| countri | creation intern communiti must help | countri | help includ urgent action need |
| need | countri help includ urgent action | need | help peopl horn africa face |
| growth | potenti region bring higher inclus | growth | togeth cooper pay imf estim |
| global | one reason one reason serv | global | membership role bring countri togeth |
| countri | serv global membership role bring | countri | togeth facilit comprehens collabor solut |
| econom | resolv crise lend help soften | econom | social cost crise exampl allow |
| countri | cost crise exampl allow lowincom | countri | protect increas spend health educ |
| countri | educ precautionari lend help protect | countri | gale contagion look forward discuss |
| global | membership might help fortifi lend | global | financi safeti net overal creativ |
| need | financi safeti net overal creativ | need | third help member technic assist |
| financ | better tomorrow exampl help ministri | financ | liberia pay teacher direct bank |
| need | modern tax system even effect | need | imf look even like membership |
| also | america middl east come month | also | would like know moment walk |
| also | difficult problem proud hope let | also | recogn thank board execut director |
| global | ago face similar fork road | global | communiti chose wise came togeth |
| need | critic junctur must choos wise | need | urgent action call today come |
| econom | come month problem may larg | econom | solut larg polit need commit |
| need | larg econom solut larg polit | need | commit need courag occas meet |
| need | solut larg polit need commit | need | courag occas meet hope reach |
| polici | reach common diagnosi agre set | polici | recommend propos leader head govern |
| global | eye symbol interconnected symbol one | global | communiti symbol imf path forward |
| countri | fund consid import seminar lowincom | countri | calib join us today includ |
| countri | morn great progress made lowincom | countri | past decad new risk face |
| need | decad new risk face urgent | need | rebuild polici buffer imf help |
| polici | risk face urgent need rebuild | polici | buffer imf help road ahead |
| countri | decad wit remark transform lowincom | countri | strong econom growth lift million |
| econom | remark transform lowincom countri strong | econom | growth lift million peopl abject |
| growth | transform lowincom countri strong econom | growth | lift million peopl abject poverti |
| countri | million peopl abject poverti lowincom | countri | also cope well global financi |
| also | peopl abject poverti lowincom countri | also | cope well global financi crisi |
| global | lowincom countri also cope well | global | financi crisi stage rapid recoveri |
| growth | crisi stage rapid recoveri year | growth | expect reach strong percent averag |
| countri | reach strong percent averag lowincom | countri | impress perform testament hard work |
| economi | short built macroeconom buffer put | economi | fundament stronger foot news good |
| global | news good food fuel crisi | global | financi crisi follow devast poor |
| global | food programm time downsid risk | global | growth increas mark time capac |
| growth | programm time downsid risk global | growth | increas mark time capac mani |
| countri | mark time capac mani lowincom | countri | absorb shock yet rebuilt last |
| countri | navig storm rebuild resilienceonc lowincom | countri | find critic junctur polici need |
| polici | lowincom countri find critic junctur | polici | need challeng time best rebuild |
| need | countri find critic junctur polici | need | challeng time best rebuild resili |
| global | resili futur shock face uncertain | global | environ policymak lowincom countri mani |
| countri | uncertain global environ policymak lowincom | countri | mani other prepar adapt polici |
| polici | countri mani other prepar adapt | polici | need accord countryspecif circumst event |
| need | mani other prepar adapt polici | need | accord countryspecif circumst event sharp |
| growth | protect vital spend mitig impact | growth | protect vulner scope countercycl fiscal |
| polici | protect vulner scope countercycl fiscal | polici | becom limit monetari exchang rate |
| polici | becom limit monetari exchang rate | polici | could use activ provid inflat |
| growth | build self insur good time | growth | strong extern condit favor make |
| countri | cours selfinsur go far lowincom | countri | must abl count continu support |
| economi | structur chang boost longerterm resili | economi | diversifi over depend product trade |
| also | shock better domest resourc util | also | matter exampl financi deepen happen |
| also | underserv popul broaden tax base | also | import diversifi economi also like |
| economi | tax base also import diversifi | economi | also like deliv inclus growth |
| also | base also import diversifi economi | also | like deliv inclus growth growth |
| growth | economi also like deliv inclus | growth | growth creat job peopl share |
| growth | also like deliv inclus growth | growth | creat job peopl share benefit |
| countri | dimens matter longrun stabil cours | countri | commod export recent year benefit |
| also | price wise preserv macroeconom stabil | also | share natur resourc wealth fair |
| countri | broad extrem challeng agenda lowincom | countri | chart cours set prioriti us |
| need | dialogu imf listen even care | need | lowincom countri member help us |
| countri | listen even care need lowincom | countri | member help us serv even |
| also | quick fewer string attach must | also | leav suffici room highprior spend |
| growth | suffici room highprior spend support | growth | protect vulner made lend instrument |
| countri | lend window billion doubl amount | countri | draw also cut interest rate |
| also | billion doubl amount countri draw | also | cut interest rate concession lend |
| economi | goe forearm improv understand world | economi | grow interconnected trade financ clear |
| financ | world economi grow interconnected trade | financ | clear essenti develop rang new |
| countri | new vulner exercis specif lowincom | countri | tool help us highlight key |
| polici | us highlight key risk implic | polici | continu work close countri author |
| countri | implic polici continu work close | countri | author seek rebuild polici buffer |
| polici | close countri author seek rebuild | polici | buffer safeguard critic spend longerterm |
| also | critic spend longerterm develop object | also | continu effort help lowincom countri |
| countri | also continu effort help lowincom | countri | build capac design implement polici |
| polici | countri build capac design implement | polici | context open th region technic |
| countri | help lic help themselvesth lowincom | countri | achiev remark gain recent year |
| countri | must prepar even help lowincom | countri | help aid commit must met |
| countri | encourag must part believ lowincom | countri | abl withstand new phase crisi |
| econom | prepar deliveryth | econom | program launch greek govern may |
| need | remark today therefor correct modif | need | ensur success let stress imf |
| market | gdp abrupt lost access capit | market | greec stand abyss may despit |
| countri | support intern communiti euro zone | countri | ecb fund govern choic focus |
| economi | choic focus immedi effort stabil | economi | correct fiscal polici discuss right |
| polici | effort stabil economi correct fiscal | polici | discuss right greec aim achiev |
| financ | credit effort restor sound public | financ | difficult social pain alreadi produc |
| econom | still toohigh deficit return robust | econom | growth requir much stronger focus |
| growth | toohigh deficit return robust econom | growth | requir much stronger focus structur |
| economi | enter difficult phase evid fact | economi | trend lower expect month ago |
| countri | extern greec includ unexpect turmoil | countri | peripheri uncertainti among investor framework |
| polici | uncertainti among investor framework comprehens | polici | respons euro zone crisi howev |
| market | strong comprehens pension reform labor | market | reform becom much increment mean |
| need | well away critic mass reform | need | transform invest climat give boost |
| economi | transform invest climat give boost | economi | concern said public multipl occas |
| economi | author fiscal area notabl weakerthanexpect | economi | attend contract revenu base clear |
| need | author struggl meet fiscal target | need | take socal automat stabil duli |
| need | stronger foundat still addit measur | need | go forward order reduc deficit |
| need | undertak memorandum much object still | need | translat concret measur reflect fact |
| need | program go forward author clear | need | guard program becom unbalanc particular |
| econom | limit tax base would neither | econom | polit sustain avoid need refocus |
| need | neither econom polit sustain avoid | need | refocus fiscal program two way |
| need | tax rate let frank well | need | pay fair share tax good |
| countri | sum greec made impress progress | countri | time critic junctur progress requir |
| need | structur reform reach critic mass | need | transform invest climat set stage |
| econom | invest climat set stage strong | econom | growth job creation final let |
| growth | climat set stage strong econom | growth | job creation final let leav |
| financ | took bold step agre provid | financ | greec term enjoy triplea rate |
| countri | greec term enjoy triplea rate | countri | long take restor access capit |
| market | long take restor access capit | market | provid greec continu implement adjust |
| polici | provid greec continu pursu sound | polici | ball greec court |
| global | woodrow wilson champion caus multilater | global | fratern seed plant bore fruit |
| econom | simpl power idea cooper bestow | econom | stabil better futur idea never |
| econom | import certain live time great | econom | anxieti exact three year collaps |
| econom | three year collaps lehman brother | econom | sky look troubl turbul global |
| global | econom sky look troubl turbul | global | activ slow downsid risk increas |
| need | collect resolv confid world bad | need | return woodrow wilson caution thing |
| econom | seem dark shine light core | econom | problem also help turn heat |
| also | shine light core econom problem | also | help turn heat time mind |
| need | much narrow get narrow navig | need | strong polit across world leadership |
| global | brinksmanship cooper competit action reaction | global | outlooklet give short overview global |
| global | global outlooklet give short overview | global | econom develop forecast come next |
| econom | outlooklet give short overview global | econom | develop forecast come next week |
| global | confin today broad trend overal | global | growth continu slow advanc countri |
| growth | today broad trend overal global | growth | continu slow advanc countri particular |
| countri | global growth continu slow advanc | countri | particular face anem bumpi recoveri |
| economi | bold action real risk major | economi | slip back instead move forward |
| economi | instead move forward mani advanc | economi | face cold headwind mani emerg |
| market | face cold headwind mani emerg | market | face much heat inflat pressur |
| growth | heat inflat pressur strong credit | growth | rise current account deficit lowincom |
| countri | rise current account deficit lowincom | countri | experienc reason growth remain high |
| growth | deficit lowincom countri experienc reason | growth | remain high vulner econom disloc |
| econom | reason growth remain high vulner | econom | disloc elsewher world includ commod |
| countri | drought horn africa devast catastroph | countri | need help intern communiti urgent |
| need | horn africa devast catastroph countri | need | help intern communiti urgent also |
| also | need help intern communiti urgent | also | keep mind middl east north |
| polici | help peopl libya technic assist | polici | advic financi support request problem |
| global | request problem titl speech today | global | econom challeng global solut talk |
| econom | problem titl speech today global | econom | challeng global solut talk solut |
| global | speech today global econom challeng | global | solut talk solut need clear |
| need | challeng global solut talk solut | need | clear problem would isol three |
| growth | issu balanc sheet pressur sap | growth | instabl core global econom system |
| global | pressur sap growth instabl core | global | econom system social tension key |
| econom | sap growth instabl core global | econom | system social tension key shortrun |
| countri | tension key shortrun issu advanc | countri | balanc sheet pressur knock wind |
| economi | uncertainti hover sovereign across advanc | economi | bank europ household unit state |
| growth | europ household unit state weak | growth | weak balanc sheet govern financi |
| polici | cycl gain momentum frank exacerb | polici | indecis polit dysfunct relat second |
| econom | risk core instabl interconnect world | econom | tremor one countri reverber swift |
| countri | interconnect world econom tremor one | countri | reverber swift power across globe |
| economi | across globe especi origin system | economi | imf research shown financi linkag |
| growth | given prioriti main street legaci | growth | mani countri predomin benefit top |
| countri | main street legaci growth mani | countri | predomin benefit top echelon societi |
| polici | want propos today four key | polici | dimens need secur recoveri econom |
| need | today four key polici dimens | need | secur recoveri econom stabil repair |
| econom | polici dimens need secur recoveri | econom | stabil repair rebal reform rebuild |
| countri | sovereign household bank sovereign advanc | countri | need credibl mediumterm plan stabil |
| need | household bank sovereign advanc countri | need | credibl mediumterm plan stabil lower |
| growth | twin peril lose credibl undermin | growth | way credibl measur deliv anchor |
| growth | term help creat space accommod | growth | today allow slower pace consolid |
| countri | consolid cours precis path differ | countri | choic cut deficit today especi |
| market | choic cut deficit today especi | market | pressur other stick adjust plan |
| growth | adjust plan readi chang cours | growth | falter other still probabl push |
| growth | biggest bangforthebuck creat job kickstart | growth | take distribut consider account adjust |
| also | take distribut consider account adjust | also | import medium term fiscal plan |
| growth | term fiscal plan seek support | growth | m think issu like tax |
| economi | longterm debt sustain virtual advanc | economi | policymak must also deal household |
| also | virtual advanc economi policymak must | also | deal household bank balanc sheet |
| growth | presid obama recent propos address | growth | employ time remain critic policymak |
| financ | europ sovereign must address firm | financ | problem credibl fiscal consolid addit |
| growth | credibl fiscal consolid addit support | growth | via privat sector lend bank |
| economi | second r reform repair get | economi | move today reform lay foundat |
| econom | today reform lay foundat stabl | econom | futur tomorrow prioriti financi sector |
| need | resolut tooimportanttofail shadow bank system | need | intern cooper across dimens avoid |
| also | three year lehman concern us | also | need develop finetun macroprudenti tool |
| need | year lehman concern us also | need | develop finetun macroprudenti tool guard |
| polici | guard financi risk m think | polici | like bank hold capit time |
| also | price bubbl reform banner would | also | includ social dimens employ must |
| also | race even start gun sound | also | seek growth inclus benefit whole |
| growth | start gun sound also seek | growth | inclus benefit whole societi third |
| global | happen yet second rebalanc involv | global | demand switch extern deficit extern |
| economi | lower spend higher save advanc | economi | key emerg market must take |
| market | save advanc economi key emerg | market | must take slack start provid |
| need | take slack start provid demand | need | power global recoveri rebalanc far |
| global | start provid demand need power | global | recoveri rebalanc far larg due |
| growth | rebalanc far larg due lower | growth | countri rebalanc held back polici |
| countri | far larg due lower growth | countri | rebalanc held back polici keep |
| polici | growth countri rebalanc held back | polici | keep domest demand growth slow |
| growth | back polici keep domest demand | growth | slow currenc appreci modest emerg |
| market | slow currenc appreci modest emerg | market | deal danger capit inflow rapid |
| economi | world thought decoupl mirag advanc | economi | succumb recess emerg market escap |
| market | advanc economi succumb recess emerg | market | escap nobodi rebalanc global interest |
| global | emerg market escap nobodi rebalanc | global | interest also nation interest woodrow |
| also | escap nobodi rebalanc global interest | also | nation interest woodrow wilson would |
| countri | r rebuild think main lowincom | countri | need rebuild econom polici buffer |
| need | rebuild think main lowincom countri | need | rebuild econom polici buffer includ |
| econom | main lowincom countri need rebuild | econom | polici buffer includ fiscal posit |
| polici | lowincom countri need rebuild econom | polici | buffer includ fiscal posit serv |
| also | well crisi protect futur storm | also | help provid space growthenhanc public |
| countri | social safeti net exampl allow | countri | deploy welltarget subsidi protect poor |
| countri | phase crisi circumst fund member | countri | uniqu posit foster collect action |
| global | posit foster collect action among | global | membership mean complac cours like |
| need | given new challeng face world | need | rais game respond even effect |
| global | game respond even effect serv | global | membership speak next week annual |
| also | confidenti agent selfish policymak must | also | act togeth must reclaim spirit |
| global | crisi restor strong sustain balanc | global | growth path clear time must |
| growth | restor strong sustain balanc global | growth | path clear time must act |
| need | common goal foster idea dialogu | need | build prosper secur world given |
| global | secur world given precari state | global | economi dialogu clear essenti wish |
| economi | world given precari state global | economi | dialogu clear essenti wish thank |
| countri | key messag wish convey today | countri | must act act bold steer |
| economi | must act act bold steer | economi | danger new phase recoveri world |
| econom | suffer crisi confid face deterior | econom | outlook rise concern health sovereign |
| polici | sovereign bank happen time scope | polici | action consider narrow crisi first |
| polici | consider narrow crisi first erupt | polici | option may fewer path recoveri |
| global | may fewer path recoveri challeng | global | economylet set princip econom challeng |
| econom | challeng global economylet set princip | econom | challeng bottom line global activ |
| global | princip econom challeng bottom line | global | activ slow downsid risk increas |
| global | slow downsid risk increas time | global | rebalanc demand need sustain global |
| need | increas time global rebalanc demand | need | sustain global growth stall key |
| global | global rebalanc demand need sustain | global | growth stall key advanc economi |
| growth | rebalanc demand need sustain global | growth | stall key advanc economi necessari |
| economi | global growth stall key advanc | economi | necessari handoff public privat demand |
| growth | take place fundament problem weak | growth | weak balanc sheet govern financi |
| growth | financi institut household feed negat | growth | continu lose momentum balanc sheet |
| polici | worsen fiscal sustain threaten scope | polici | salvag recoveri disappear emerg economi |
| economi | polici salvag recoveri disappear emerg | economi | perform consider better countri growth |
| countri | emerg economi perform consider better | countri | growth may fast polici need |
| growth | economi perform consider better countri | growth | may fast polici need contain |
| polici | better countri growth may fast | polici | need contain overh risk anoth |
| need | countri growth may fast polici | need | contain overh risk anoth issu |
| economi | anoth issu mani key surplus | economi | littl progress shift extern domest |
| economi | progress shift extern domest demand | economi | signific currenc appreci structur reform |
| need | structur reform help bring rebalanc | need | support strong stabl sustain global |
| global | need support strong stabl sustain | global | growth pictur paint rosi one |
| growth | support strong stabl sustain global | growth | pictur paint rosi one although |
| economi | chang time act nowfor advanc | economi | question fiscal sustain must restor |
| also | must restor credibl consolid plan | also | know consolid quick hurt recoveri |
| countri | precis path fiscal consolid differ | countri | face consider market pressur could |
| market | consolid differ countri face consider | market | pressur could face absenc upfront |
| polici | scope slower pace consolid combin | polici | support growth key clarifi credibl |
| growth | pace consolid combin polici support | growth | key clarifi credibl mediumterm strategi |
| growth | tomorrow help creat space support | growth | today permit slower pace consolid |
| polici | permit slower pace consolid monetari | polici | also role play advanc economi |
| also | slower pace consolid monetari polici | also | role play advanc economi broad |
| economi | polici also role play advanc | economi | broad speak remain high accommod |
| economi | sinc inflat expect well anchor | economi | commod price pressur wane policymak |
| need | pressur wane policymak stand readi | need | take action support recoveri includ |
| polici | d like focus briefli key | polici | prioriti unit state eurozon unit |
| econom | kingdom first unit state recent | econom | perform disappoint downsid risk growth |
| growth | econom perform disappoint downsid risk | growth | increas time agre polici need |
| polici | risk growth increas time agre | polici | need secur requir fiscal adjust |
| need | growth increas time agre polici | need | secur requir fiscal adjust time |
| econom | requir fiscal adjust time sustain | econom | growth proven difficult expect credibl |
| growth | fiscal adjust time sustain econom | growth | proven difficult expect credibl decis |
| also | consolid involv futur entitl spend | also | revenu expenditur measur would creat |
| polici | expenditur measur would creat space | polici | support growth job today welcom |
| growth | would creat space polici support | growth | job today welcom propos announc |
| growth | obama last night focus support | growth | job creation short term presid |
| also | job creation short term presid | also | emphas remain critic unit state |
| need | address sovereign risk mani eurozon | need | fiscal action clariti avail sovereign |
| financ | fiscal action clariti avail sovereign | financ | fiscal adjust critic longterm sustain |
| financ | adjust critic longterm sustain public | financ | mani economi program countri regard |
| economi | longterm sustain public financ mani | economi | program countri regard financ essenti |
| countri | public financ mani economi program | countri | regard financ essenti eurozon leader |
| financ | mani economi program countri regard | financ | essenti eurozon leader implement groundbreak |
| need | time view heighten risk uncertainti | need | convinc market bank need addit |
| market | heighten risk uncertainti need convinc | market | bank need addit capit must |
| need | uncertainti need convinc market bank | need | addit capit must underestim risk |
| econom | capit must underestim risk spread | econom | weak even debilit liquid crisi |
| need | even debilit liquid crisi action | need | urgent bank return busi financ |
| financ | need urgent bank return busi | financ | econom activ third unit kingdom |
| econom | urgent bank return busi financ | econom | activ third unit kingdom strong |
| also | plan move decis fiscal front | also | caution downsid risk policymak nimbl |
| polici | downsid risk policymak nimbl know | polici | path premis greater role privat |
| polici | trade partner risk level rise | polici | stanc remain appropri heighten risk |
| economi | readi respond particular look like | economi | head prolong period weak growth |
| growth | economi head prolong period weak | growth | high unemploy fiscal side free |
| growth | eas pace deficit reduct gdp | growth | slow provid import cushion monetari |
| also | close would like say word | also | financi sector uk one key |
| economi | one key find analysi spillov | economi | uk financi stabil global public |
| global | spillov economi uk financi stabil | global | public good requir highest qualiti |
| also | essenti stabil uk financi sector | also | depend stronger intern framework oversight |
| need | coordin multilater framework crisi manag | need | develop clear principl guid inform |
| polici | progress critic issu requir difficult | polici | decis increas cooper stakehold involv |
| financ | g central bank governor minist | financ | look forward discuss outlook balanc |
| global | outlook balanc risk pivot time | global | economi mean polici also focus |
| economi | balanc risk pivot time global | economi | mean polici also focus challeng |
| polici | pivot time global economi mean | polici | also focus challeng face middl |
| also | time global economi mean polici | also | focus challeng face middl east |
| also | africa region experienc histor transform | also | signific econom financi consequ clear |
| econom | experienc histor transform also signific | econom | financi consequ clear countri must |
| countri | signific econom financi consequ clear | countri | must take lead chart forward |
| economi | forward cours build stronger open | economi | strong partner intern communiti includ |
| polici | continu support member seek best | polici | deal challeng face today advanc |
| economi | face today advanc emerg develop | economi | two week member come washington |
| global | togeth discuss critic challeng face | global | economi road ahead may rocki |
| economi | discuss critic challeng face global | economi | road ahead may rocki way |
| countri | rocki way forward exist act | countri | play part identifi action need |
| need | countri play part identifi action | need | achiev strong sustain balanc growth |
| growth | need achiev strong sustain balanc | growth | thank |
| econom | great distinct made signific contribut | econom | monetari polici discuss let also |
| polici | made signific contribut econom monetari | polici | discuss let also recogn friend |
| also | econom monetari polici discuss let | also | recogn friend lipski five year |
| global | day struck sever salient theme | global | economi continu grow yet enough |
| economi | struck sever salient theme global | economi | continu grow yet enough main |
| global | demand switch public privat sector | global | demand switch extern deficit extern |
| financ | first idea strengthen privat sector | financ | would allow engin growth switch |
| growth | sector financ would allow engin | growth | switch back public privat sector |
| countri | second idea higher demand surplus | countri | would make lower spend path |
| countri | make lower spend path deficit | countri | actual progress rebalanc timid best |
| global | rebalanc timid best downsid risk | global | economi increas risk aggrav deterior |
| economi | timid best downsid risk global | economi | increas risk aggrav deterior confid |
| need | convict simpli will take decis | need | develop summer indic danger new |
| global | bolster confid requir restor rebal | global | growth without option know need |
| growth | confid requir restor rebal global | growth | without option know need done |
| need | global growth without option know | need | done support growth reduc debt |
| growth | option know need done support | growth | reduc debt prevent financi crise |
| need | reduc debt prevent financi crise | need | new approach base bold polit |
| polici | polit action comprehens plan across | polici | lever implement coordin global way |
| global | across polici lever implement coordin | global | way balanc sheet problema know |
| economi | much debt leverag key advanc | economi | financi institut engag practic magnifi |
| growth | action made progress enough unshackl | growth | mean downplay done govern took |
| economi | today headlin problem sovereign advanc | economi | bank europ household unit state |
| global | europ household unit state ad | global | growth also held back polici |
| growth | household unit state ad global | growth | also held back polici slow |
| also | unit state ad global growth | also | held back polici slow demand |
| polici | global growth also held back | polici | slow demand key emerg market |
| market | polici slow demand key emerg | market | economi balanc sheet risk increas |
| economi | slow demand key emerg market | economi | balanc sheet risk increas other |
| economi | increas other fundament problem advanc | economi | weak growth weak balanc sheet |
| growth | fundament problem advanc economi weak | growth | weak balanc sheet govern financi |
| growth | financi institut household feed negat | growth | continu lose momentum balanc sheet |
| polici | problem worsen fiscal sustain threaten | polici | instrument lose abil sustain recoveri |
| polici | instrument lose abil sustain recoveri | polici | agendawhat done clear scope polici |
| polici | polici agendawhat done clear scope | polici | action much narrow today easi |
| polici | fiscal consolid remain imper macroeconom | polici | must support growth fiscal polici |
| growth | imper macroeconom polici must support | growth | fiscal polici must navig twin |
| polici | polici must support growth fiscal | polici | must navig twin peril lose |
| countri | undercut recoveri precis path differ | countri | meet credibl test countri need |
| countri | differ countri meet credibl test | countri | need dual focus primari emphasi |
| need | countri meet credibl test countri | need | dual focus primari emphasi durabl |
| growth | creat much space possibl support | growth | today least permit slower pace |
| growth | possibl instanc measur chang rate | growth | entitl health retir monetari polici |
| polici | growth entitl health retir monetari | polici | also remain high accommod risk |
| also | entitl health retir monetari polici | also | remain high accommod risk recess |
| economi | risk inflat particular true advanc | economi | inflat expect well anchor ii |
| need | price abat policymak stand readi | need | dive back unconvent water microlevel |
| polici | dive back unconvent water microlevel | polici | action reliev balanc sheet pressur |
| growth | reform sure help boost product | growth | time take care weaken demand |
| need | short term agre broad brushstrok | need | done devil alway detail would |
| need | state europei ll start europ | need | urgent decis action remov cloud |
| market | contin transmit weak spread fear | market | market countri countri peripheri core |
| market | transmit weak spread fear market | market | countri countri peripheri core three |
| countri | weak spread fear market market | countri | countri peripheri core three key |
| countri | spread fear market market countri | countri | peripheri core three key step |
| financ | step europ take first sovereign | financ | need sustain strategi mean fiscal |
| need | europ take first sovereign financ | need | sustain strategi mean fiscal action |
| financ | sustain strategi mean fiscal action | financ | necessarili mean drastic upfront belttighten |
| countri | necessarili mean drastic upfront belttighten | countri | address longterm fiscal risk like |
| growth | spend space short run support | growth | job without credibl financ path |
| financ | support growth job without credibl | financ | path fiscal adjust doom fail |
| financ | path one thing get money | financ | anoth suffici financ come privat |
| financ | get money financ anoth suffici | financ | come privat offici sector includ |
| need | euro area member second bank | need | urgent recapit must strong enough |
| growth | enough withstand risk sovereign weak | growth | key cut chain contagion address |
| econom | address could easili see spread | econom | weak core countri even debilit |
| countri | see spread econom weak core | countri | even debilit liquid crisi effici |
| need | burden vulner sovereign third europ | need | common vision futur current econom |
| econom | need common vision futur current | econom | turmoil expos serious flaw architectur |
| market | direct unclear confus messag add | market | uncertainti magnifi eurozon econom tension |
| econom | add market uncertainti magnifi eurozon | econom | tension europ must recommit credibl |
| need | must recommit credibl common vision | need | built solid foundat includ exampl |
| econom | price still hold consumpt creat | econom | uncertainti simpli room halfmeasur delay |
| need | room halfmeasur delay unit state | need | move two specif front first |
| growth | front first nexus fiscal consolid | growth | first blush challeng seem contradictori |
| polici | involv revenu expenditur creat space | polici | support growth job today time |
| growth | expenditur creat space polici support | growth | job today time growth necessari |
| growth | support growth job today time | growth | necessari fiscal credibl believ commit |
| financ | homeown stronger intervent govern hous | financ | agenc step help homeown take |
| global | advantag low interest rate environ | global | dimensionstep back global perspect said |
| global | rate environ global dimensionstep back | global | perspect said outset rebalanc advanc |
| growth | rebalanc advanc suffici despit slow | growth | deficit countri key emerg economi |
| countri | suffici despit slow growth deficit | countri | key emerg economi polici keep |
| economi | growth deficit countri key emerg | economi | polici keep domest demand growth |
| polici | deficit countri key emerg economi | polici | keep domest demand growth slow |
| growth | economi polici keep domest demand | growth | slow currenc appreci modest block |
| global | appreci modest block outright even | global | interest emerg market includ allow |
| market | outright even global interest emerg | market | includ allow exchang rate appreci |
| econom | exchang rate appreci deal threat | econom | financi stabil capit inflow lack |
| countri | everyon recogn decoupl myth advanc | countri | succumb recess emerg market escap |
| market | advanc countri succumb recess emerg | market | escap take global perspect cannot |
| global | recess emerg market escap take | global | perspect cannot forget lowincom countri |
| countri | global perspect cannot forget lowincom | countri | popul especi vulner econom disloc |
| econom | lowincom countri popul especi vulner | econom | disloc rest world countri need |
| countri | vulner econom disloc rest world | countri | need focus protect futur storm |
| need | econom disloc rest world countri | need | focus protect futur storm includ |
| polici | protect futur storm includ rebuild | polici | buffer invest social safeti net |
| global | rise path recoveryin sum risk | global | economi rise remain path recoveri |
| economi | path recoveryin sum risk global | economi | rise remain path recoveri polici |
| polici | economi rise remain path recoveri | polici | option narrow way linger uncertainti |
| growth | right action strong sustain balanc | growth | restor first phase crisi reach |
| countri | phase crisi reach point action | countri | add much action clear implic |
| also | th annual region confer let | also | thank central bank governor presid |
| financ | central bank governor presid minist | financ | bank superintend distinguish invite attend |
| polici | region meet becom integr part | polici | exchang evolv forum discuss key |
| econom | exchang evolv forum discuss key | econom | financi issu togeth respons central |
| global | issu togeth respons central america | global | crisi second time region confer |
| econom | macroeconom stabil set basi stabl | econom | growth nicaragua particular nicaragua manag |
| growth | stabil set basi stabl econom | growth | nicaragua particular nicaragua manag keep |
| global | price shock region downturn unleash | global | crisi nicaragua also made courag |
| also | downturn unleash global crisi nicaragua | also | made courag effort preserv macroeconom |
| need | partnership engag central america emphas | need | make benign environ time undertak |
| econom | region medium longterm prosper sinc | econom | resili region test global crisi |
| global | sinc econom resili region test | global | crisi well known central america |
| global | central america respons risk pose | global | crisi larg success countri region |
| countri | pose global crisi larg success | countri | region could afford let fiscal |
| polici | fiscal deficit widen eas monetari | polici | condit provid liquid financi sector |
| polici | respond negat extern shock countercycl | polici | first time decad testament signific |
| countri | signific gain macroeconom front made | countri | preced year gain consist first |
| economi | borrow reason term crisi second | economi | becam resili increas financi buffer |
| also | exchang rate flexibl intern communiti | also | play part assist region contain |
| financ | standbi arrang provid fund resourc | financ | budget dominican republ nicaragua later |
| also | dominican republ nicaragua later hondura | also | activ fund arrang concession term |
| also | macroeconom instabl major contract togeth | also | manag reduc impact poorest includ |
| polici | manag reduc impact poorest includ | polici | social expenditur compon paraphras say |
| economi | time look forward challeng world | economi | region lie ahead topic cover |
| global | region confer one great lesson | global | financi crisi confirm import intern |
| econom | import intern cooper forum like | econom | author group countri longstand tradit |
| countri | forum like econom author group | countri | longstand tradit cooper meet discuss |
| global | longstand tradit cooper meet discuss | global | outlook exchang idea experi facilit |
| econom | idea experi facilit find solut | econom | challeng lie ahead excel exampl |
| polici | person understand multipl challeng face | polici | maker precis understand challeng truli |
| countri | truli appreci close candid relationship | countri | region relationship motiv us continu |
| econom | help maintain macroeconom stabil boost | econom | growth countri final messag hope |
| growth | maintain macroeconom stabil boost econom | growth | countri final messag hope find |
| countri | macroeconom stabil boost econom growth | countri | final messag hope find use |
| global | fund provid member analyt work | global | develop assembl best mind cours |
| economi | like talk challeng face world | economi | role imf sinc nd day |
| global | better remark chang take place | global | economi particular dramat rise interconnected |
| economi | remark chang take place global | economi | particular dramat rise interconnected countri |
| countri | economi particular dramat rise interconnected | countri | word imf need bring even |
| need | rise interconnected countri word imf | need | bring even multilater perspect advic |
| countri | multilater perspect advic give member | countri | especi system economi whose polici |
| economi | give member countri especi system | economi | whose polici signific impact rest |
| polici | countri especi system economi whose | polici | signific impact rest world return |
| global | focus imf ii challeng face | global | economybut let begin three major |
| global | three major challeng see face | global | economi today sovereign debt growth |
| economi | major challeng see face global | economi | today sovereign debt growth social |
| growth | global economi today sovereign debt | growth | social instabl challeng intim intertwin |
| global | three unlock strong stabl balanc | global | growth sovereign debt sustain econom |
| growth | unlock strong stabl balanc global | growth | sovereign debt sustain econom growth |
| econom | global growth sovereign debt sustain | econom | growth need strong sustain way |
| growth | growth sovereign debt sustain econom | growth | need strong sustain way econom |
| need | sovereign debt sustain econom growth | need | strong sustain way econom growth |
| econom | growth need strong sustain way | econom | growth sustain need deliv stabl |
| growth | need strong sustain way econom | growth | sustain need deliv stabl social |
| need | sustain way econom growth sustain | need | deliv stabl social chemistri hold |
| econom | peripheri reveal risk pose incomplet | econom | monetari union result euro area |
| countri | fiscal structur measur adopt affect | countri | convinc market last solut place |
| market | measur adopt affect countri convinc | market | last solut place last week |
| financ | overcom concern packag includ new | financ | greec much longer matur lower |
| also | longer matur lower rate term | also | avail crisi economi efsf europ |
| economi | rate term also avail crisi | economi | efsf europ crisi financ tool |
| financ | crisi economi efsf europ crisi | financ | tool given greater flexibl support |
| countri | given greater flexibl support member | countri | packag also includ critic measur |
| also | flexibl support member countri packag | also | includ critic measur strengthen econom |
| econom | also includ critic measur strengthen | econom | govern eurozon agreement show european |
| market | take secur destini welcom financi | market | reflect stronger euro lower peripher |
| need | ceil clock tick clear issu | need | resolv immedi inde advers fiscal |
| need | fundament credibl fiscal adjust plan | need | sooner rather later japan also |
| also | need sooner rather later japan | also | even though situat urgent ambiti |
| need | though situat urgent ambiti measur | need | deal high level public debt |
| growth | public debt fiscal consolid mean | growth | shortterm impact like negat research |
| growth | point cut deficit could lower | growth | Â ½ percentag point two |
| growth | improv bring second challeng name | growth | overal imf expect reason global |
| global | growth overal imf expect reason | global | growth nearterm  ½ percent |
| growth | overal imf expect reason global | growth | nearterm  ½ percent recoveri |
| growth | unbalanc risk clear downsid rapid | growth | emerg economi critic sustain global |
| economi | clear downsid rapid growth emerg | economi | critic sustain global recoveri reflect |
| global | growth emerg economi critic sustain | global | recoveri reflect payoff sound macroeconom |
| polici | recoveri reflect payoff sound macroeconom | polici | recent year economi sign overh |
| economi | sound macroeconom polici recent year | economi | sign overh becom promin stay |
| polici | essenti avoid possibl hard land | polici | action come late lowincom countri |
| countri | polici action come late lowincom | countri | also enjoy healthi growth better |
| also | action come late lowincom countri | also | enjoy healthi growth better macroeconom |
| growth | lowincom countri also enjoy healthi | growth | better macroeconom polici play major |
| polici | enjoy healthi growth better macroeconom | polici | play major role mani countri |
| countri | polici play major role mani | countri | reel surg commod price earlier |
| countri | peopl extrem poverti today mani | countri | horn africa face potenti worst |
| growth | broad seek strong durabl inclus | growth | turn advanc economi evid crisi |
| economi | durabl inclus growth turn advanc | economi | evid crisi inflict deep longlast |
| polici | scar make lost ground seachang | polici | need mani area unit state |
| need | make lost ground seachang polici | need | mani area unit state could |
| also | consolid plan agre soon ve | also | recommend activ labor market polici |
| market | ve also recommend activ labor | market | polici stem rise structur unemploy |
| polici | also recommend activ labor market | polici | stem rise structur unemploy measur |
| market | unemploy measur eas adjust hous | market | exampl mortgag relief europ job |
| growth | right reform could lift annual | growth | much  ½  ¼ |
| market | percentag point make labor capit | market | product essenti deeper market integr |
| market | capit market product essenti deeper | market | integr also play key role |
| also | product essenti deeper market integr | also | play key role boost growth |
| growth | also play key role boost | growth | economi small task goal simpli |
| economi | play key role boost growth | economi | small task goal simpli growth |
| growth | economi small task goal simpli | growth | need right kind growth creat |
| need | small task goal simpli growth | need | right kind growth creat job |
| growth | simpli growth need right kind | growth | creat job lift peopl across |
| growth | north africa seen social imbalanc | growth | contribut polit upheav mani emerg |
| economi | polit upheav mani emerg develop | economi | rise commod price exacerb social |
| countri | social problem associ high jobless | countri | strong social safeti net help |
| economi | social problem major concern advanc | economi | young particular hard time find |
| growth | scholar rothkopf focus right kind | growth | import iii role imfso imf |
| polici | leader crisi earli call coordin | polici | stimulus flexibl financi partner reform |
| global | total billion help build stronger | global | economi polici advic technic assist |
| economi | billion help build stronger global | economi | polici advic technic assist effort |
| polici | help build stronger global economi | polici | advic technic assist effort need |
| need | polici advic technic assist effort | need | member chang must adapt see |
| global | stabil ultim goal foster healthi | global | economi increas human welfar clear |
| economi | ultim goal foster healthi global | economi | increas human welfar clear member |
| countri | increas human welfar clear member | countri | also client servic provid polici |
| also | human welfar clear member countri | also | client servic provid polici advic |
| polici | countri also client servic provid | polici | advic financi support technic assist |
| global | two respons today high interconnect | global | economi domest polici way becom |
| economi | respons today high interconnect global | economi | domest polici way becom extern |
| polici | high interconnect global economi domest | polici | way becom extern polici focus |
| polici | domest polici way becom extern | polici | focus polici need stabil system |
| polici | way becom extern polici focus | polici | need stabil system whole imf |
| need | becom extern polici focus polici | need | stabil system whole imf help |
| polici | whole imf help member find | polici | best suit deliv strong stabl |
| growth | best suit deliv strong stabl | growth | long run second said outset |
| countri | must understand better connect within | countri | complet studi polici world five |
| polici | connect within countri complet studi | polici | world five system import economi |
| economi | polici world five system import | economi | china euro area japan unit |
| economi | found exampl success rebalanc chines | economi | includ stronger social safeti net |
| global | currenc would generat posit spillov | global | economi also found adopt suitabl |
| economi | would generat posit spillov global | economi | also found adopt suitabl ambiti |
| also | generat posit spillov global economi | also | found adopt suitabl ambiti regulatori |
| also | would strengthen stabil system whole | also | connect within countri must understand |
| countri | system whole also connect within | countri | must understand better especi macrofinanci |
| economi | imf must comprehens evalu strength | economi | need look beyond standard econom |
| need | must comprehens evalu strength economi | need | look beyond standard econom financi |
| econom | economi need look beyond standard | econom | financi criteria make sure miss |
| economi | miss factor social concern polit | economi | issu may threaten macroeconom stabil |
| need | turn imf intern multidisciplinari fund | need | new think interplay macroeconom dimens |
| econom | evenhanded essenti imf credibl monitor | econom | polici mean countri get fair |
| polici | essenti imf credibl monitor econom | polici | mean countri get fair treatment |
| countri | credibl monitor econom polici mean | countri | get fair treatment imf fair |
| polici | fair listen view fair evalu | polici | fair report world credibl govern |
| also | fair report world credibl govern | also | essenti imf effect long imf |
| econom | long imf vote structur reflect | econom | realiti bygon day chang last |
| economi | vote power world fastest grow | economi | bric amongst top ten sharehold |
| need | color new coat stock vitamin | need | spirit wisdom thank reli tremend |
| also | execut board dedic talent staff | also | look friend council foreign relat |
| econom | learn afternoon despit temporari slow | econom | activ expect global recoveri continu |
| global | temporari slow econom activ expect | global | recoveri continu world gdp growth |
| growth | global recoveri continu world gdp | growth | project percent year percent downsid |
| global | percent downsid risk howev increas | global | expans remain unbalanc growth mani |
| growth | increas global expans remain unbalanc | growth | mani advanc economi still weak |
| economi | remain unbalanc growth mani advanc | economi | still weak growth emerg develop |
| growth | mani advanc economi still weak | growth | emerg develop economi continu strong |
| economi | still weak growth emerg develop | economi | continu strong greaterthananticip weak u |
| also | peripheri pose greater downsid risk | also | risk persist fiscal financi sector |
| economi | financi sector imbal mani advanc | economi | sign overh becom increas appar |
| economi | increas appar mani emerg develop | economi | background remark today concentr fiscal |
| polici | background remark today concentr fiscal | polici | challeng face member countri potenti |
| countri | fiscal polici challeng face member | countri | potenti role public health care |
| countri | public health care reform help | countri | meet fiscal challeng fiscal situationin |
| economi | fiscal challeng fiscal situationin advanc | economi | fiscal deficit remain larg averag |
| polici | clear sustain although countercycl fiscal | polici | help save global economi far |
| global | countercycl fiscal polici help save | global | economi far deeper downturn fiscal |
| economi | fiscal polici help save global | economi | far deeper downturn fiscal fallout |
| need | deeper downturn fiscal fallout crisi | need | address recoveri sustain central challeng |
| economi | broad appropri pace mani advanc | economi | notabl europ canada fiscal adjust |
| also | europ canada fiscal adjust europ | also | accompani strengthen institut rule unit |
| growth | rule unit state strong revenu | growth | slower paca spend mean budget |
| growth | reduc risk could negat affect | growth | prospect nevertheless consensus credibl mediumterm |
| need | mediumterm adjust plan still urgent | need | similar detail mediumterm adjust plan |
| need | sharp increas bond spread underscor | need | european countri work cooper develop |
| countri | bond spread underscor need european | countri | work cooper develop comprehens consist |
| economi | backdrop histor fiscal challeng advanc | economi | spend pressur health care rise |
| economi | share gdp near doubl advanc | economi | almost percent gdp twothird increas |
| polici | prospect go forward worrisom unchang | polici | imf staff expect annual spend |
| economi | annual spend public health advanc | economi | increas averag percentag point gdp |
| financ | present role public privat sector | financ | provid health care cours role |
| countri | cours role vari wide across | countri | reflect differ countri prefer constraint |
| countri | wide across countri reflect differ | countri | prefer constraint inde optim level |
| countri | health spend provid benchmark compar | countri | nevertheless need ensur whatev model |
| need | provid benchmark compar countri nevertheless | need | ensur whatev model countri adopt |
| countri | nevertheless need ensur whatev model | countri | adopt public health care servic |
| also | project increas public health spend | also | concern countri spend effici illustr |
| countri | public health spend also concern | countri | spend effici illustr examin gain |
| countri | spend effici illustr examin gain | countri | could achiev get rid effici |
| countri | provid estim differ life expect | countri | current achiev best perform countri |
| countri | countri current achiev best perform | countri | similar level spend base recent |
| economi | increas spend percent turn emerg | economi | overal fiscal outlook appear favor |
| economi | fiscal posit expos mani case | economi | may overh need make faster |
| need | mani case economi may overh | need | make faster progress reduc deficit |
| economi | rise domest demand mani emerg | economi | advers fiscal impact high fuel |
| also | impact high fuel food price | also | major challeng cours mani emerg |
| economi | major challeng cours mani emerg | economi | includ emerg europ fiscal consolid |
| also | includ emerg europ fiscal consolid | also | proceed appropri pace financi market |
| market | also proceed appropri pace financi | market | recogn fiscal consolid nevertheless need |
| need | market recogn fiscal consolid nevertheless | need | year come emerg europ also |
| also | need year come emerg europ | also | face longterm pressur public health |
| economi | compar percentag point gdp emerg | economi | whole russia turkey ukrain exampl |
| need | adjust fiscal strategi advanc economieswhat | need | address fiscal problem advanc economi |
| economi | need address fiscal problem advanc | economi | first believ import clear final |
| need | fiscal monitor underscor magnitud adjust | need | lower debt ratio daunt task |
| need | spend includ health expenditur cut | need | domin requir adjust process revenu |
| countri | revenu increas like necessari sever | countri | given magnitud necessari adjust especi |
| countri | magnitud necessari adjust especi true | countri | relat low spend ratio consumpt |
| economi | rate would appropri mani advanc | economi | key goal roll back tax |
| also | expenditur would bring substanti revenu | also | improv effici fair tax system |
| need | except short run strateg approach | need | adjust effort larg expect sustain |
| countri | larg expect sustain time mani | countri | better target social welfar spend |
| also | could provid substanti fiscal save | also | scope reduc spend subsidi includ |
| economi | agricultur subsidi still larg advanc | economi | effort also need lower militari |
| also | still larg advanc economi effort | also | need lower militari spend medium |
| need | larg advanc economi effort also | need | lower militari spend medium term |
| also | adjust strategi fiscal consolid must | also | deal longterm spend pressur agerel |
| countri | pension health spend ambiti goal | countri | would stabil spend ratio gdp |
| countri | spend ratio gdp pension mani | countri | alreadi undertaken reform rais retir |
| need | point gdp next year increas | need | offset reform challeng even daunt |
| countri | put enorm pressur public budget | countri | yet commit deep reform promis |
| countri | effect spend still import recogn | countri | success contain growth health spend |
| growth | import recogn countri success contain | growth | health spend past other success |
| countri | term heard morn know experi | countri | reform help slow growth health |
| growth | experi countri reform help slow | growth | health care spend preserv equiti |
| growth | cap power tool reduc spend | growth | among micro reform strengthen market |
| market | growth among micro reform strengthen | market | mechan increas patient choic allow |
| also | care shift toward casebas payment | also | central improv effici spend demandsid |
| financ | demandsid reform greater relianc privat | financ | increas costshar also effect greater |
| also | relianc privat financ increas costshar | also | effect greater role privat sector |
| growth | ration hightechnolog equip help reduc | growth | public health spend appropri mix |
| countri | mix reform option cours vari | countri | depend project outlook public health |
| financ | import implic rang servic product | financ | public sector contain public health |
| growth | sector contain public health spend | growth | prioriti countri may face difficult |
| countri | public health spend growth prioriti | countri | may face difficult choic regard |
| financ | benefit packag role privat sector | financ | servic includ privat insur howev |
| market | includ privat insur howev consider | market | failur associ privat insur market |
| market | market failur associ privat insur | market | thus expans privat insur would |
| need | thus expans privat insur would | need | accompani appropri regul ensur access |
| economi | ingredi success fiscal adjust advanc | economi | howev even extens reform countri |
| countri | economi howev even extens reform | countri | may abl prevent increas health |
| countri | technolog improv health care cost | countri | even ambiti cut program may |
| economi | fiscal adjust emerg economiesturn emerg | economi | tighter fiscal stanc current envisag |
| need | tighter fiscal stanc current envisag | need | near term mani case emerg |
| economi | near term mani case emerg | economi | deficit fall countri fiscal buffer |
| countri | case emerg economi deficit fall | countri | fiscal buffer erod crisi need |
| need | countri fiscal buffer erod crisi | need | rebuilt protect sudden revers recent |
| market | spend medium term mani emerg | market | general increas govern spend like |
| need | like often even desir budgetari | need | differ across countri need reform |
| countri | desir budgetari need differ across | countri | need reform help boost consumpt |
| need | budgetari need differ across countri | need | reform help boost consumpt other |
| need | reform help boost consumpt other | need | greater invest infrastructur growthenhanc spend |
| economi | bit differ one face advanc | economi | increas health spend moder past |
| economi | pressur expect less sever advanc | economi | time mani countri need expand |
| countri | sever advanc economi time mani | countri | need expand access high qualiti |
| need | advanc economi time mani countri | need | expand access high qualiti health |
| economi | mortal continu lag behind advanc | economi | signific part popul still uninsur |
| economi | cours spend relat high emerg | economi | standard coverag near univers challeng |
| economi | qualiti servic deliveri like advanc | economi | fiscal space also limit much |
| also | like advanc economi fiscal space | also | limit much emerg europ place |
| growth | public spend conclusionin conclus contain | growth | public health spend equit effici |
| economi | ingredi success fiscal consolid advanc | economi | thus strong pressur health system |
| also | improv health outcom emerg europ | also | limit fiscal space face similar |
| countri | given success reform experi mani | countri | hope expect today confer provid |
| global | lectur meet high uncertain time | global | economi bounc back solid trough |
| economi | meet high uncertain time global | economi | bounc back solid trough hit |
| countri | remain uneven subject downsid risk | countri | includ mani emerg economi asia |
| economi | risk countri includ mani emerg | economi | asia latin america well germani |
| countri | america well germani well mani | countri | growth strong enough reduc unemploy |
| growth | well germani well mani countri | growth | strong enough reduc unemploy rate |
| market | unit state possibl overh emerg | market | economi steppedup polici action need |
| economi | state possibl overh emerg market | economi | steppedup polici action need keep |
| polici | overh emerg market economi steppedup | polici | action need keep global recoveri |
| need | market economi steppedup polici action | need | keep global recoveri track countri |
| global | steppedup polici action need keep | global | recoveri track countri delay reform |
| countri | need keep global recoveri track | countri | delay reform howev reflect understand |
| growth | understand concern possibl impact nearterm | growth | prospect econom polici cooper make |
| econom | possibl impact nearterm growth prospect | econom | polici cooper make import contribut |
| polici | impact nearterm growth prospect econom | polici | cooper make import contribut reform |
| countri | contribut reform design implement coher | countri | better conclus demonstr global financi |
| global | coher countri better conclus demonstr | global | financi crisi unpreced intern polici |
| polici | global financi crisi unpreced intern | polici | cooper help prevent much deeper |
| global | cooper help prevent much deeper | global | recess polici cooper equal import |
| polici | prevent much deeper global recess | polici | cooper equal import today countri |
| countri | polici cooper equal import today | countri | seek secur global recoveri creat |
| global | import today countri seek secur | global | recoveri creat condit strong sustain |
| growth | creat condit strong sustain balanc | growth | recoveri proceed along differ path |
| polici | differ path around world keep | polici | adjust coher becom difficult thus |
| polici | challeng postcrisi era sustain intern | polici | cooper fact greater cooper coordin |
| market | region stabil progress complet singl | market | project remark today ll discuss |
| econom | today ll discuss new mechan | econom | polici cooper help global recoveri |
| polici | ll discuss new mechan econom | polici | cooper help global recoveri also |
| global | mechan econom polici cooper help | global | recoveri also challeng still face |
| also | polici cooper help global recoveri | also | challeng still face sustain cooper |
| global | face sustain cooper longer term | global | economi interconnect complexi ll begin |
| economi | sustain cooper longer term global | economi | interconnect complexi ll begin global |
| global | economi interconnect complexi ll begin | global | econom context specif grow interlinkag |
| econom | interconnect complexi ll begin global | econom | context specif grow interlinkag among |
| economi | context specif grow interlinkag among | economi | made world complex extens made |
| need | start standard geograph map world | need | introduct let see happen redraw |
| market | redraw world map base gdp | market | exchang rate unit state clear |
| economi | europ japan interest fastest grow | economi | larg even though import term |
| global | even though import term contribut | global | growth let transform map one |
| growth | though import term contribut global | growth | let transform map one weight |
| economi | let transform map one weight | economi | trade differ pictur emerg europ |
| countri | europ especi germani larg japan | countri | rather small popul like australia |
| also | small popul like australia canada | also | relat larg final transform weight |
| countri | relat larg final transform weight | countri | financi asset liabil show yet |
| economi | state europ larg wherea emerg | economi | appear quit small africa hard |
| global | shift interlinkag ad consider complex | global | economi complex help explain key |
| economi | interlinkag ad consider complex global | economi | complex help explain key polici |
| polici | economi complex help explain key | polici | failur lead recent crisi interlinkag |
| also | interlinkag give rise greater complex | also | sourc major polici success crisi |
| polici | greater complex also sourc major | polici | success crisi consid went wrong |
| economi | perceiv clear understand implic real | economi | began crisi subprim mortgag financ |
| financ | economi began crisi subprim mortgag | financ | one countri help produc deepest |
| countri | crisi subprim mortgag financ one | countri | help produc deepest global recess |
| global | one countri help produc deepest | global | recess sinc world war ii |
| global | sinc world war ii rise | global | interlinkag also associ notabl polici |
| also | war ii rise global interlinkag | also | associ notabl polici success two |
| polici | global interlinkag also associ notabl | polici | success two particular worth mention |
| financ | first increas interconnected especi trade | financ | produc strongest sustain period global |
| global | financ produc strongest sustain period | global | growth world histori lift hundr |
| growth | produc strongest sustain period global | growth | world histori lift hundr million |
| growth | million peopl poverti shown commiss | growth | develop led nobel laureat spenc |
| growth | poverti involv period strong sustain | growth | turn case involv economi open |
| economi | sustain growth turn case involv | economi | open world market word embrac |
| market | case involv economi open world | market | word embrac global led better |
| global | open world market word embrac | global | led better econom outcom second |
| econom | word embrac global led better | econom | outcom second success remark increas |
| global | outcom second success remark increas | global | polici cooper taken place wake |
| polici | second success remark increas global | polici | cooper taken place wake global |
| global | polici cooper taken place wake | global | financi crisi world last face |
| countri | face grave danger great depress | countri | act perceiv selfinterest beggarthyneighbor polici |
| polici | countri act perceiv selfinterest beggarthyneighbor | polici | fact deepen downturn time countri |
| countri | polici fact deepen downturn time | countri | act togeth tackl crisi result |
| polici | result consid sever threat new | polici | challengestoday face new challeng name |
| growth | name reestablish strong sustain balanc | growth | current global economi grow fair |
| global | strong sustain balanc growth current | global | economi grow fair healthi clip |
| economi | sustain balanc growth current global | economi | grow fair healthi clip latest |
| econom | week quarter updat imf world | econom | outlook anticip global growth  |
| global | imf world econom outlook anticip | global | growth  ½ percent year |
| growth | world econom outlook anticip global | growth | Â ½ percent year next |
| growth | mask uneven recoveri across world | growth | emerg economi power ahead robust |
| economi | recoveri across world growth emerg | economi | power ahead robust case verg |
| growth | ahead robust case verg overh | growth | mani advanc economi fast enough |
| economi | verg overh growth mani advanc | economi | fast enough make signific ground |
| economi | unemploy remain stubborn high advanc | economi | notabl except germani employ precrisi |
| countri | unemploy contribut great social tension | countri | youth unemploy may high absolut |
| economi | major challeng face mani advanc | economi | crisi led increas debttogdp ratio |
| need | slide show amount fiscal adjust | need | next twenti year first stabil |
| economi | relat gdp virtual everi advanc | economi | face need substanti fiscal adjust |
| need | virtual everi advanc economi face | need | substanti fiscal adjust focus specif |
| countri | major financi loss exposur peripheri | countri | eurozon growth could suffer downturn |
| growth | loss exposur peripheri countri eurozon | growth | could suffer downturn demand crisi |
| countri | could suffer downturn demand crisi | countri | could even wors consequ instabl |
| polici | shake consum investor confid strong | polici | action nation author peripher european |
| countri | action nation author peripher european | countri | clear essenti overcom challeng action |
| polici | beyond time move ahead broader | polici | agenda secur stronger potenti growth |
| growth | polici agenda secur stronger potenti | growth | establish resili emu remain equal |
| economi | remain equal press turn emerg | economi | find entir differ set polici |
| polici | economi find entir differ set | polici | challeng mani countri either near |
| countri | differ set polici challeng mani | countri | either near alreadi back potenti |
| polici | back potenti output time real | polici | rate almost everi countri negat |
| countri | real polici rate almost everi | countri | negat real term mean monetari |
| polici | negat real term mean monetari | polici | remain expansionari even though need |
| need | polici remain expansionari even though | need | monetari stimulus pass easi liquid |
| growth | pass easi liquid stoke credit | growth | remain elev almost everi countri |
| countri | growth remain elev almost everi | countri | china slow albeit rapid rate |
| economi | present serious threat one emerg | economi | impress accomplish name bring inflat |
| economi | see averag cpi inflat emerg | economi | declin tremend sinc percent rang |
| polici | tremend sinc percent rang dramat | polici | achiev import reason invest emerg |
| economi | achiev import reason invest emerg | economi | becom attract proposit look recent |
| economi | period declin brief uptick emerg | economi | inflat commod price spike inflat |
| economi | current macroeconom condit differ today | economi | close even excess capac fiscal |
| polici | even excess capac fiscal monetari | polici | expansionari credit growth rapid word |
| growth | fiscal monetari polici expansionari credit | growth | rapid word rise commod price |
| also | inflat upward pressur combin factor | also | rais inflationari expect see inflat |
| global | six month ago sum although | global | economi weather worst crisi sinc |
| economi | month ago sum although global | economi | weather worst crisi sinc great |
| economi | face serious headwind advanc emerg | economi | also becom clear overcom global |
| also | serious headwind advanc emerg economi | also | becom clear overcom global challeng |
| global | economi also becom clear overcom | global | challeng need global solut remaind |
| need | becom clear overcom global challeng | need | global solut remaind remark d |
| global | clear overcom global challeng need | global | solut remaind remark d like |
| global | imf g help make possibl | global | polici cooper imfth global financi |
| polici | g help make possibl global | polici | cooper imfth global financi crisi |
| global | possibl global polici cooper imfth | global | financi crisi hold mani lesson |
| polici | member effect better foster intern | polici | cooper alreadi move forward mani |
| financ | four key area surveil ii | financ | instrument iii resourc iv govern |
| countri | imf uniqu mandat consult member | countri | econom financi polici ensur polici |
| econom | uniqu mandat consult member countri | econom | financi polici ensur polici consist |
| polici | consult member countri econom financi | polici | ensur polici consist global econom |
| polici | countri econom financi polici ensur | polici | consist global econom financi stabil |
| global | financi polici ensur polici consist | global | econom financi stabil sever import |
| econom | polici ensur polici consist global | econom | financi stabil sever import innov |
| global | strengthen monitor tail risk face | global | economi made financi sector assess |
| economi | monitor tail risk face global | economi | made financi sector assess program |
| also | firstev fsap unit state china | also | complet fsap updat germani increas |
| economi | germani increas focus interlinkag among | economi | polici one countri impact spill |
| polici | increas focus interlinkag among economi | polici | one countri impact spill onto |
| countri | interlinkag among economi polici one | countri | impact spill onto other focus |
| economi | particular spillov five system import | economi | econom region world china japan |
| econom | spillov five system import economi | econom | region world china japan euro |
| growth | domest demand deliv sustain mediumterm | growth | germani contribut stronger european global |
| global | growth germani contribut stronger european | global | economi improv understand macrofinanci linkag |
| economi | germani contribut stronger european global | economi | improv understand macrofinanci linkag mention |
| also | specif linkag one contributor crisi | also | pay attent qualiti growth ask |
| growth | crisi also pay attent qualiti | growth | ask distribut incom unemploy rate |
| also | rate may affect macroeconom stabil | also | made import enhanc financ instrument |
| financ | stabil also made import enhanc | financ | instrument streamlin financ program focus |
| financ | import enhanc financ instrument streamlin | financ | program focus core polici need |
| polici | streamlin financ program focus core | polici | need reestablish growth stabil address |
| need | financ program focus core polici | need | reestablish growth stabil address need |
| growth | focus core polici need reestablish | growth | stabil address need insurancelik crisi |
| need | need reestablish growth stabil address | need | insurancelik crisi prevent product introduc |
| polici | financi stress imf member strong | polici | track record anoth innov enhanc |
| financ | anoth innov enhanc cooper region | financ | arrang europ partner ec ecb |
| financ | europ partner ec ecb provid | financ | greec ireland portug look forward |
| also | cooper chiang mai initi asia | also | explor whether global financi safeti |
| global | initi asia also explor whether | global | financi safeti net need strengthen |
| need | whether global financi safeti net | need | strengthen crisi shortterm liquid provis |
| countri | crisi imf commit billion member | countri | face financ pressur also sold |
| financ | commit billion member countri face | financ | pressur also sold gold hold |
| also | member countri face financ pressur | also | sold gold hold proceed ultim |
| financ | hold proceed ultim use help | financ | imf oper resourc current help |
| countri | provid addit subsid support lowincom | countri | member final area imf reform |
| market | deliv greater voic dynam emerg | market | economi line weight global economi |
| economi | greater voic dynam emerg market | economi | line weight global economi latest |
| global | emerg market economi line weight | global | economi latest round alreadi agre |
| economi | market economi line weight global | economi | latest round alreadi agre reform |
| economi | state japan four largest european | economi | time voic poorest member protect |
| global | regard imf legitimaci laid rest | global | polici cooper g ll turn |
| polici | imf legitimaci laid rest global | polici | cooper g ll turn chang |
| polici | g ll turn chang intern | polici | cooper take place auspic g |
| economi | bring togeth nineteen world largest | economi | plus european union ll use |
| econom | novemb time fear rise rapid | econom | fallout financi crisi g leader |
| polici | crisi g leader decid broader | polici | respons need deal crisi agre |
| need | leader decid broader polici respons | need | deal crisi agre action plan |
| polici | action plan involv closer macroeconom | polici | cooper well regulatori financi sector |
| global | place london april time concern | global | economi crescendo face threat leader |
| economi | london april time concern global | economi | crescendo face threat leader decid |
| global | crescendo face threat leader decid | global | cooper solut need overcom global |
| need | leader decid global cooper solut | need | overcom global crisi agre massiv |
| global | global cooper solut need overcom | global | crisi agre massiv polici stimulus |
| polici | overcom global crisi agre massiv | polici | stimulus fiscal monetari shore econom |
| econom | polici stimulus fiscal monetari shore | econom | growth also agre provid imf |
| growth | stimulus fiscal monetari shore econom | growth | also agre provid imf trillion |
| also | fiscal monetari shore econom growth | also | agre provid imf trillion addit |
| global | held pittsburgh septemb time clear | global | economi grow leader recogn unpreced |
| economi | pittsburgh septemb time clear global | economi | grow leader recogn unpreced polici |
| polici | economi grow leader recogn unpreced | polici | cooper play major role prevent |
| econom | g would premier forum intern | econom | financi polici cooper also launch |
| polici | premier forum intern econom financi | polici | cooper also launch framework strong |
| also | intern econom financi polici cooper | also | launch framework strong sustain balanc |
| growth | launch framework strong sustain balanc | growth | provid blueprint polici cooper recoveri |
| polici | sustain balanc growth provid blueprint | polici | cooper recoveri underpin framework g |
| polici | map member would share mediumterm | polici | framework evalu whether polici collect |
| polici | mediumterm polici framework evalu whether | polici | collect consist sustain balanc global |
| global | polici collect consist sustain balanc | global | growth imf ask provid analyt |
| growth | collect consist sustain balanc global | growth | imf ask provid analyt support |
| global | map key question whether better | global | outcom could achiev countri act |
| countri | better global outcom could achiev | countri | act cooper rather adopt polici |
| polici | countri act cooper rather adopt | polici | without explicit consider countri analysi |
| countri | adopt polici without explicit consider | countri | analysi prepar imf show answer |
| polici | call upsid scenario reflect full | polici | cooper advanc emerg economi point |
| economi | full polici cooper advanc emerg | economi | point simpl yet power argument |
| polici | point simpl yet power argument | polici | cooper need base one countri |
| need | yet power argument polici cooper | need | base one countri make sacrific |
| countri | polici cooper need base one | countri | make sacrific global good instead |
| global | base one countri make sacrific | global | good instead motiv premis countri |
| countri | global good instead motiv premis | countri | act coher achiev outcom better |
| need | belief premis agre take action | need | achiev upsid scenario also agre |
| also | action need achiev upsid scenario | also | agre broad polici framework present |
| polici | upsid scenario also agre broad | polici | framework present matrix amongst advanc |
| economi | framework present matrix amongst advanc | economi | extern surplus need structur reform |
| need | amongst advanc economi extern surplus | need | structur reform extern deficit need |
| need | need structur reform extern deficit | need | fiscal consolid emerg surplus economi |
| economi | need fiscal consolid emerg surplus | economi | need rebal demand toward domest |
| need | fiscal consolid emerg surplus economi | need | rebal demand toward domest sourc |
| economi | toward domest sourc emerg deficit | economi | need structur reform demand manag |
| need | domest sourc emerg deficit economi | need | structur reform demand manag measur |
| countri | demand manag measur across board | countri | need repair reform financi system |
| need | manag measur across board countri | need | repair reform financi system critic |
| countri | critic achiev novemb seoul summit | countri | provid specif polici commit reach |
| polici | seoul summit countri provid specif | polici | commit reach upsid scenario leader |
| also | commit reach upsid scenario leader | also | decid take map new stage |
| countri | stage assess excess imbal member | countri | whether intern extern might contribut |
| global | whether intern extern might contribut | global | econom instabl g subsequ decid |
| econom | intern extern might contribut global | econom | instabl g subsequ decid focus |
| economi | subsequ decid focus analysi seven | economi | whose imbal consid particular import |
| polici | includ imf analysi assess whether | polici | commit made seven key countri |
| countri | polici commit made seven key | countri | other suffici reach upsid scenario |
| polici | action plan sens acid test | polici | cooper auspic g countri take |
| countri | test polici cooper auspic g | countri | take step need fulfil commit |
| need | auspic g countri take step | need | fulfil commit one addit aspect |
| countri | extrem import first time g | countri | commit specif mechan support polici |
| polici | countri commit specif mechan support | polici | cooper time word intern polici |
| polici | polici cooper time word intern | polici | cooper becom repeat game cours |
| econom | new framework won solv world | econom | problem quick intend make differ |
| polici | sector reform new focus macroprudenti | polici | financi stabil board creat april |
| also | broaden mandat promot financi stabil | also | expand includ g member greater |
| also | guid reform effort nation level | also | effort coordin reform across countri |
| countri | also effort coordin reform across | countri | far pillar receiv substanti public |
| need | clear lesson crisi resolut mechan | need | capabl deal institut import fail |
| economi | fsap made mandatori system import | economi | global financi perspect fsb alreadi |
| global | made mandatori system import economi | global | financi perspect fsb alreadi peer |
| polici | d like note recognit macroprudenti | polici | essenti increas stabil financi system |
| need | focus instrument institut today know | need | think global economi affect stabil |
| global | institut today know need think | global | economi affect stabil financi system |
| economi | today know need think global | economi | affect stabil financi system vice |
| global | thoughtswrap clear face challeng moment | global | economi also moment great opportun |
| economi | clear face challeng moment global | economi | also moment great opportun strengthen |
| also | face challeng moment global economi | also | moment great opportun strengthen econom |
| econom | also moment great opportun strengthen | econom | polici cooper build stronger global |
| polici | moment great opportun strengthen econom | polici | cooper build stronger global economi |
| global | econom polici cooper build stronger | global | economi europ integr sinc world |
| economi | polici cooper build stronger global | economi | europ integr sinc world war |
| global | ii alreadi incred success wake | global | financi crisi europ taken unpreced |
| market | fiscal disciplin underpin singl financi | market | bolster competit enhanc crisi resolut |
| need | area live full potenti effort | need | confid forthcom thank much attent |
| also | sever euro area member state | also | includ two addit report find |
| countri | ongo sovereign debt problem sever | countri | key element clear cohes cooper |
| countri | determin commit reform adjust program | countri | must continu includ immedi farreach |
| market | farreach structur reform privat open | market | foreign ownership competit cooper approach |
| also | foreign ownership competit cooper approach | also | requir continu euro area financi |
| also | condit allow foster success scale | also | flexibl efsf import essenti bring |
| market | takeov focus develop corpor bond | market | reestablish high qualiti securit support |
| growth | adapt new regulatori environ path | growth | econom integr recoveri broad sound |
| econom | new regulatori environ path growth | econom | integr recoveri broad sound even |
| growth | recoveri broad sound even though | growth | remain uneven moder overal low |
| growth | remain uneven moder overal low | growth | aggrav bank problem make necessari |
| growth | policymak focus nation prioriti solut | growth | complet singl market labor equiti |
| market | prioriti solut growth complet singl | market | labor equiti capit flow freeli |
| need | flow freeli across border wherev | need | unleash europ growth potenti creat |
| growth | border wherev need unleash europ | growth | potenti creat new job open |
| market | creat new job open capit | market | bank particular import respect use |
| market | import respect use catchphras wellwork | market | need nation champion singl market |
| need | respect use catchphras wellwork market | need | nation champion singl market cannot |
| market | market need nation champion singl | market | cannot blossom without stronger common |
| global | area needsto conclud euro area | global | import economi analysi suggest spillov |
| economi | conclud euro area global import | economi | analysi suggest spillov ongo difficulti |
| also | ongo difficulti peripheri relat small | also | show crisi would felt much |
| also | improv govern benefit euro area | also | global economi look ahead import |
| global | govern benefit euro area also | global | economi look ahead import learn |
| economi | benefit euro area also global | economi | look ahead import learn crisi |
| growth | euro area stabl resili live | growth | potenti press ahead broad reform |
| need | near area crucial addit step | need | make add consist set thank |
| econom | basic annual discuss member regard | econom | financi polici outlook reflect report |
| polici | discuss member regard econom financi | polici | outlook reflect report discuss chair |
| economi | dynam chang current underway chines | economi | affect countri global economi spillov |
| countri | current underway chines economi affect | countri | global economi spillov report imf |
| global | underway chines economi affect countri | global | economi spillov report imf carri |
| economi | chines economi affect countri global | economi | spillov report imf carri first |
| economi | first time five larg system | economi | japan china unit state euro |
| econom | innov intend strengthen analysi multilater | econom | polici interact wake global financi |
| polici | intend strengthen analysi multilater econom | polici | interact wake global financi crisi |
| global | multilater econom polici interact wake | global | financi crisi promot effect dialogu |
| econom | fsap spillov work panoram view | econom | develop china place firm global |
| global | econom develop china place firm | global | context key find discuss first |
| global | foremost china continu bright spot | global | growth anticip continu thus maintain |
| growth | china continu bright spot global | growth | anticip continu thus maintain growth |
| growth | growth anticip continu thus maintain | growth | forecast year next around  |
| global | upward pressur eman either higher | global | commod price weatherrel shock food |
| polici | central southern provinc china china | polici | respons global crisi proactiv substanti |
| global | provinc china china polici respons | global | crisi proactiv substanti effect sustain |
| growth | proactiv substanti effect sustain chines | growth | boost domest demand global economi |
| global | chines growth boost domest demand | global | economi benefit great economi current |
| economi | growth boost domest demand global | economi | benefit great economi current solid |
| economi | demand global economi benefit great | economi | current solid foot natur appropri |
| polici | toward balanc come year monetari | polici | year m growth target right |
| growth | year monetari polici year m | growth | target right one balanc use |
| growth | use direct administr limit loan | growth | would help achiev intend polici |
| polici | growth would help achiev intend | polici | object support growth effect improv |
| growth | achiev intend polici object support | growth | effect improv economi balanc measur |
| economi | object support growth effect improv | economi | balanc measur author taken progress |
| financ | price driven high save cheap | financ | low carri cost lack altern |
| need | properti sector asset sector general | need | involv financi sector develop higher |
| growth | innov framework strong sustain balanc | growth | attain mutual assess process map |
| global | reduc imbal extern domest undermin | global | growth context import note china |
| growth | imbal extern domest undermin global | growth | context import note china current |
| need | nonetheless judgment imf colleagu measur | need | deploy come year prevent renew |
| economi | expans china current surplus boost | economi | relat relianc domest demand growth |
| growth | economi relat relianc domest demand | growth | mani polici would support goal |
| polici | relianc domest demand growth mani | polici | would support goal cite govern |
| economi | plan one import tool improv | economi | perform emphas year consult reform |
| growth | system would help transform china | growth | model toward inclus economi focus |
| economi | china growth model toward inclus | economi | focus improv peopl standard live |
| polici | roadmap reform includ strengthen monetari | polici | framework improv regulatori supervis financi |
| market | stabil framework deepen develop financi | market | deregul loan deposit interest rate |
| also | monitor system issu inform exchang | also | well known nearterm risk aris |
| need | extern spillov fsap find point | need | expand regulatori supervisori perimet improv |
| econom | task pay china long term | econom | growth perform would like take |
| growth | pay china long term econom | growth | perform would like take question |
| econom | gratitud organ pleas share thought | econom | develop greec prospect bank system |
| economi | precis touch upon three item | economi | polici today ii need reinvigor |
| polici | touch upon three item economi | polici | today ii need reinvigor polici |
| need | item economi polici today ii | need | reinvigor polici momentum iii task |
| polici | polici today ii need reinvigor | polici | momentum iii task bank structur |
| economi | forward addit implement broader real | economi | structur reform also slow mean |
| also | broader real economi structur reform | also | slow mean adjust increas come |
| economi | product gain welllubr realloc resourc | economi | concern without implement reform economi |
| economi | economi concern without implement reform | economi | rebal lower incom live standard |
| market | bank cannot rais capit privat | market | fsf need regular review make |
| need | rais capit privat market fsf | need | regular review make sure fund |
| need | maximum extent possibl least due | need | achiev greater separ bank sovereign |
| need | greater separ bank sovereign bank | need | plan care oper environ mediumterm |
| need | crunch must avoid time bank | need | extric except support measur provid |
| market | exist asset held bank wholesal | market | access like remain hamper regard |
| polici | second day annual intern seminar | polici | challeng financi sector joint organ |
| countri | fund pleas us distinguish particip | countri | repres supervisori agenc central bank |
| market | attent various issu relat financi | market | supervis use forum discuss highprior |
| polici | discuss highprior item nation intern | polici | agenda year seminar except ambiti |
| polici | multipl facet system risk well | polici | instrument aim safeguard stabil financi |
| also | risk contribut financi crisi second | also | fail grasp natur financi ecosystem |
| market | web connect financi institut financi | market | macroeconomi higherlevel perspect refer macroprudenti |
| polici | macroeconomi higherlevel perspect refer macroprudenti | polici | broad intern consensus import develop |
| polici | macroprudenti framework becam prioriti g | polici | agenda howev analyt underpin still |
| countri | survey decemb show author mani | countri | explor appropri institut infrastructur macroprudenti |
| polici | explor appropri institut infrastructur macroprudenti | polici | use macroprudenti instrument becom increas |
| countri | macroprudenti instrument becom increas common | countri | also activ engag design new |
| also | instrument becom increas common countri | also | activ engag design new macroprudenti |
| polici | develop least think effect macroprudenti | polici | framework make strong contribut crisi |
| countri | strong contribut crisi prevent member | countri | g ask imf develop element |
| polici | effort recent laid think imf | polici | paper publish april also work |
| also | imf polici paper publish april | also | work colleagu basel progress report |
| polici | later year recent paper macroprudenti | polici | intend reach definit conclus recogn |
| need | reach definit conclus recogn work | need | develop comprehens coher framework instead |
| polici | coher framework instead roadmap develop | polici | framework therefor offer guidanc today |
| polici | today seminar discuss believ macroprudenti | polici | base three pillar govern arrang |
| polici | base three pillar govern arrang | polici | instrument coordin polici let provid |
| polici | govern arrang polici instrument coordin | polici | let provid highlight think area |
| polici | think area effect govern arrangementsmacroprudenti | polici | involv manag tail risk benefit |
| polici | go never easi area public | polici | macroprudenti measur certain except rule |
| polici | willing act mean conduct macroprudenti | polici | need clear mandat rulemak power |
| need | act mean conduct macroprudenti polici | need | clear mandat rulemak power enhanc |
| need | pressur set mandat macroprudenti author | need | clear macroprudenti polici actual meant |
| polici | macroprudenti author need clear macroprudenti | polici | actual meant achiev design particular |
| polici | meant achiev design particular macroprudenti | polici | focus risk aris primarili within |
| polici | imbal shock inappropri macroeconom structur | polici | first line defens adjust macroeconom |
| polici | first line defens adjust macroeconom | polici | time macroprudenti polici substitut robust |
| polici | adjust macroeconom polici time macroprudenti | polici | substitut robust prudenti polici tradit |
| polici | macroprudenti polici substitut robust prudenti | polici | tradit kind primarili aim ensur |
| need | individu financi institut macroprudenti author | need | access inform analyt capabl indentifi |
| polici | dynam natur financi system macroprudenti | polici | requir continu monitor broad set |
| polici | might outsid perimet regul macroprudenti | polici | also requir identifi system import |
| also | outsid perimet regul macroprudenti polici | also | requir identifi system import financi |
| market | system import financi institut sifi | market | instrument data gap import constraint |
| also | effort imf fsb bis progress | also | need refin model forwardlook measur |
| need | imf fsb bis progress also | need | refin model forwardlook measur system |
| need | measur system risk improv cooper | need | share inform among relev author |
| also | inform among relev author final | also | strive complement quantit tool qualit |
| market | qualit assess includ supervisori judgment | market | intellig choic specif institut arrang |
| polici | choic specif institut arrang macroprudenti | polici | need reflect local condit europ |
| need | specif institut arrang macroprudenti polici | need | reflect local condit europ exampl |
| polici | various nation institut arrang financi | polici | committe uk financi regul system |
| countri | impetus institut reform limit advanc | countri | hardest hit crisi number emerg |
| market | hardest hit crisi number emerg | market | economi malaysia mexico made process |
| economi | hit crisi number emerg market | economi | malaysia mexico made process make |
| polici | key featur institut arrang macroprudenti | polici | alreadi emerg one central bank |
| market | given expertis monitor macroeconom financi | market | develop exist role monetari polici |
| polici | market develop exist role monetari | polici | payment system analyt expertis help |
| polici | greater clariti benefit cost macroprudenti | polici | also strong institut incent ensur |
| also | clariti benefit cost macroprudenti polici | also | strong institut incent ensur macroprudenti |
| polici | strong institut incent ensur macroprudenti | polici | effect central bank take cost |
| need | central bank regulatori supervisori agenc | need | involv obvious retain oper author |
| financ | oper author macroprudenti instrument involv | financ | ministri pros con main pros |
| polici | main pros eas integr fiscal | polici | discuss legisl chang may requir |
| polici | complex system risk set macroprudenti | polici | tool like wide scope agre |
| market | concentr risk certain financi institut | market | high interconnect within across nation |
| econom | countercycl bank capit charg lean | econom | cycl system capit surcharg grow |
| also | impact individu financi institut increas | also | broad rang tool alreadi use |
| countri | broad rang tool alreadi use | countri | most tradit prudenti tool adjust |
| countri | specif address buildup system risk | countri | sought address risk real estat |
| market | sought address risk real estat | market | put limit loantovalu debttoincom loantoincom |
| growth | deploy timevari cap credit credit | growth | aggreg sector constrain credit boom |
| also | inact like aris form discret | also | need help adjust polici financi |
| need | like aris form discret also | need | help adjust polici financi sector |
| polici | discret also need help adjust | polici | financi sector evolv rapid specif |
| polici | choic incorpor rule case monetari | polici | leav scope discret adjust dynam |
| polici | turn issu coordin policiesregardless differ | polici | mandat structur ensur financi stabil |
| polici | ensur financi stabil share respons | polici | financi stabil secondari object lose |
| polici | especi promin role play microprudenti | polici | monetari polici affect amount risk |
| polici | role play microprudenti polici monetari | polici | affect amount risk financi system |
| polici | exampl larger buffer creat microprudenti | polici | smaller need macroprudenti polici step |
| need | buffer creat microprudenti polici smaller | need | macroprudenti polici step macroprudenti polici |
| polici | microprudenti polici smaller need macroprudenti | polici | step macroprudenti polici interact complex |
| polici | need macroprudenti polici step macroprudenti | polici | interact complex way yet fulli |
| polici | complex way yet fulli understood | polici | conflict may aris instanc monetari |
| polici | conflict may aris instanc monetari | polici | loosen long period macroprudenti polici |
| polici | polici loosen long period macroprudenti | polici | may want becom tighter avoid |
| polici | tighter avoid excess risktak macroprudenti | polici | encourag draw bank capit buffer |
| polici | downturn sustain flow credit microprudenti | polici | may inclin keep buffer unchang |
| polici | risk call mechan coordin across | polici | done manner fulli respect independ |
| polici | done manner fulli respect independ | polici | differ area coordin particular import |
| need | may rest macroprudenti bodi moreov | need | acknowledg macroprudenti polici view complement |
| polici | bodi moreov need acknowledg macroprudenti | polici | view complement rather substitut macroeconom |
| polici | complement rather substitut macroeconom microprudenti | polici | obvious mani question remain unansw |
| polici | cooper complement nation framework macroprudenti | polici | live global world multilater aspect |
| global | nation framework macroprudenti polici live | global | world multilater aspect macroprudenti polici |
| polici | global world multilater aspect macroprudenti | polici | taken account benefit intern cooper |
| polici | account benefit intern cooper macroprudenti | polici | multifacet first cooper macroprudenti polici |
| polici | polici multifacet first cooper macroprudenti | polici | reduc scope intern regulatori arbitrag |
| polici | may otherwis undermin effect nation | polici | exampl tighten requir domest bank |
| polici | second cooper inform share macroprudenti | polici | help address crossbord interconnected mitig |
| need | capit flow see much work | need | develop macroprudenti framework mani oper |
| polici | underpin yet fulli understood macroprudenti | polici | one tool strengthen resili financi |
| need | conting capit bailin instrument effort | need | develop effect resolut tool preserv |
| global | financi stabil increas complex interconnect | global | system allow loss born creditor |
| polici | still strive defin framework macroprudenti | polici | forget panacea problem financi system |
| polici | confer see forest tree macroprudenti | polici | meant substitut sound polici area |
| polici | macroprudenti polici meant substitut sound | polici | area includ strong regul individu |
| polici | vigil prudenti supervis sound macroeconom | polici | order enhanc effect financi system |
| need | enhanc effect financi system surveil | need | encourag close interact among polici |
| polici | need encourag close interact among | polici | help maintain financi stabil fund |
| polici | fsb bis enhanc understand macroprudenti | polici | hope use opportun share insight |
| polici | improv common knowledg understand macroprudenti | polici | interact public polici wish product |
| polici | understand macroprudenti polici interact public | polici | wish product discuss today look |
| market | friend manag capit flow emerg | market | economi cours topic subject least |
| economi | manag capit flow emerg market | economi | cours topic subject least brazil |
| market | least brazil like mani emerg | market | economi eme contend larg capit |
| economi | brazil like mani emerg market | economi | eme contend larg capit inflow |
| growth | new investor worldwid woken excit | growth | opportun emerg market countri despit |
| market | woken excit growth opportun emerg | market | countri despit fluctuat time time |
| countri | excit growth opportun emerg market | countri | despit fluctuat time time robust |
| global | flow eme like structur characterist | global | financi market mani year come |
| market | like structur characterist global financi | market | mani year come need hard |
| need | financi market mani year come | need | hard remind audienc emin polici |
| polici | need hard remind audienc emin | polici | maker academ praction subject long |
| market | think fund issu mean emerg | market | economi latin america hope take |
| economi | fund issu mean emerg market | economi | latin america hope take work |
| growth | flow bring tremend benefit invest | growth | also inflow surg sudden stop |
| also | bring tremend benefit invest growth | also | inflow surg sudden stop bring |
| econom | surg sudden stop bring risk | econom | disloc sinc keyn view general |
| need | imf keyn went way emphas | need | postwar system great facilit restor |
| need | product capit area profit employ | need | emphasi also open idea control |
| also | area profit employ need emphasi | also | open idea control specif circumst |
| polici | accept view enlighten trade monetari | polici | requir complet abandon control intern |
| econom | requir complet abandon control intern | econom | transact tendenc regard foreign exchang |
| econom | ipso facto bad time best | econom | interest countri impos restrict movement |
| countri | bad time best econom interest | countri | impos restrict movement capit period |
| econom | failur impos control led serious | econom | disrupt therefor white conclud task |
| polici | instrument control develop measur control | polici | administ control effect obtain object |
| polici | work past coupl year develop | polici | advic best manag capit flow |
| global | toward intellig respons capit flowsrecogn | global | financi crisi pass capit flow |
| countri | paper look close draw upon | countri | region experi various strand fed |
| polici | give us good basi provid | polici | advic emerg market countri face |
| market | basi provid polici advic emerg | market | countri face surg capit inflow |
| countri | provid polici advic emerg market | countri | face surg capit inflow meet |
| econom | prosper basic idea ground sound | econom | principl name polici intervent close |
| polici | ground sound econom principl name | polici | intervent close align problem hand |
| countri | context manag capit flow mean | countri | want first exhaust macro polici |
| polici | countri want first exhaust macro | polici | option includ allow exchang rate |
| countri | stabil risk accumul reserv line | countri | insur metric adjust monetaryfisc polici |
| polici | countri insur metric adjust monetaryfisc | polici | mix tighten fiscal polici maintain |
| polici | monetaryfisc polici mix tighten fiscal | polici | maintain sustain pace demand growth |
| growth | polici maintain sustain pace demand | growth | condit permit lower polici interest |
| polici | demand growth condit permit lower | polici | interest ratesthes step need taken |
| need | lower polici interest ratesthes step | need | taken impos capit control prudenti |
| countri | logic primaci macroeconom respons help | countri | reap benefit capit flow safeguard |
| polici | bit think current circumst make | polici | advic especi pertin emerg market |
| market | polici advic especi pertin emerg | market | economi latin america first histori |
| economi | advic especi pertin emerg market | economi | latin america first histori suggest |
| growth | environ conduc high domest demand | growth | buildup vulner region second region |
| also | buildup vulner region second region | also | face second tailwind benefit easi |
| financ | face second tailwind benefit easi | financ | condit also high term trade |
| also | tailwind benefit easi financ condit | also | high term trade strong commod |
| need | capit flow impli latin america | need | work particular hard differ front |
| countri | function resili financi sector part | countri | ongo structur reform effort may |
| need | ongo structur reform effort may | need | step respons addit risk sudden |
| market | share responsibilityi spoken length emerg | market | economi might respond capit inflow |
| economi | responsibilityi spoken length emerg market | economi | might respond capit inflow part |
| countri | inflow part given press issu | countri | current junctur brazil exampl receiv |
| need | multilater institut like imf obvious | need | consid side coin name polici |
| polici | need consid side coin name | polici | capitalexport countri end fund staff |
| countri | side coin name polici capitalexport | countri | end fund staff undertak indepth |
| economi | capit flow otherwis five largest | economi | world china euro area japan |
| countri | spillov report discuss board alongsid | countri | articl iv report juli shed |
| countri | juli shed light impact one | countri | region polici other hope facilit |
| polici | light impact one countri region | polici | other hope facilit process find |
| polici | other hope facilit process find | polici | serv nation global interest wish |
| global | process find polici serv nation | global | interest wish anticip report discuss |
| countri | mr white true rich power | countri | long period safe easili ignor |
| countri | neighbor higher standard live one | countri | beget higher standard other high |
| countri | sinc time definit rich power | countri | today emerg market countri account |
| market | rich power countri today emerg | market | countri account percent global gdp |
| countri | power countri today emerg market | countri | account percent global gdp percent |
| global | emerg market countri account percent | global | gdp percent intern trade almost |
| global | percent world extern save ensur | global | countri reap full benefit capit |
| countri | world extern save ensur global | countri | reap full benefit capit flow |
| market | thus share respons advanc emerg | market | economi surplus deficit countri capitalexport |
| economi | share respons advanc emerg market | economi | surplus deficit countri capitalexport capitalimport |
| countri | emerg market economi surplus deficit | countri | capitalexport capitalimport key address structur |
| polici | capit inflow crosscut theme possibl | polici | framework avail http www imf |
| global | wood institut adapt meet new | global | realiti effort promot understand mandat |
| also | work remain essenti us effect | also | provid valu feedback commentari better |
| global | feedback commentari better fulfil uniqu | global | role today d like focus |
| global | d like focus build stronger | global | economi princip point straightforward prospect |
| economi | like focus build stronger global | economi | princip point straightforward prospect contribut |
| polici | point straightforward prospect contribut greater | polici | cooper enhanc system stabil prevent |
| also | world emphasi driver capit flow | also | look sharpen awar qualiti growth |
| growth | also look sharpen awar qualiti | growth | within countri includ consider incom |
| countri | sharpen awar qualiti growth within | countri | includ consider incom distribut unemploy |
| global | effort enhanc system stabil examin | global | financi safeti net made effect |
| countri | hit forc nonetheless far point | countri | confid secur access intern liquid |
| need | system crise time remain alert | need | creat proper incent design safeti |
| econom | greater detail let briefli outlin | econom | backdrop take place strengthen yet |
| global | place strengthen yet fragil recoveryoveral | global | recoveri gain strength remain fragil |
| countri | challeng fall two camp first | countri | still deal aftermath crisi financi |
| economi | gdp precrisi level sever advanc | economi | project continu rise absenc bold |
| economi | fiscal challeng face mani advanc | economi | notabl european peripheri also unit |
| also | advanc economi notabl european peripheri | also | unit state japan turn europ |
| countri | europ sever peripher euro area | countri | today remain critic situat easi |
| econom | without doubt primari respons restor | econom | health lie peripher countri difficult |
| countri | restor econom health lie peripher | countri | difficult demand measur requir order |
| econom | avoid even serious crisi restor | econom | health time compel reason european |
| global | time compel reason european neighbor | global | communiti oper imf support countri |
| countri | global communiti oper imf support | countri | reform effort viabl option europ |
| also | europ today solut comprehens consist | also | cooper share solut inevit includ |
| growth | macroeconom coordin iv promot highqual | growth | part imf support european member |
| economi | support european member seek put | economi | back sustain foot last week |
| financ | last week agre joint imfeu | financ | packag portug worth billion aim |
| growth | portug worth billion aim reignit | growth | employ week complet first second |
| polici | field work close author identifi | polici | need underpin adjust program go |
| need | work close author identifi polici | need | underpin adjust program go forward |
| global | program go forward second challeng | global | recoveri reflect uneven mani advanc |
| economi | recoveri reflect uneven mani advanc | economi | experienc moder recoveri unemploy remain |
| countri | recoveri unemploy remain stubborn high | countri | rais risk higher structur unemploy |
| economi | risk higher structur unemploy advanc | economi | improv competit structur reform germani |
| growth | improv competit structur reform germani | growth | notabl abovetrend thus reduc margin |
| economi | reduc margin excess capac emerg | economi | contrast recoveri quit robust overh |
| countri | concern welcom recent step mani | countri | tighten macroeconom condit though action |
| economi | like warrant strong recoveri emerg | economi | associ runup commod price rise |
| countri | set particular difficult implic lowincom | countri | uneven global recoveri also affect |
| global | difficult implic lowincom countri uneven | global | recoveri also affect intern polici |
| also | lowincom countri uneven global recoveri | also | affect intern polici cooper crisi |
| polici | global recoveri also affect intern | polici | cooper crisi countri face similar |
| countri | affect intern polici cooper crisi | countri | face similar econom challeng made |
| econom | cooper crisi countri face similar | econom | challeng made easi agre polici |
| polici | econom challeng made easi agre | polici | solut today countri differ stage |
| countri | easi agre polici solut today | countri | differ stage recoveri thus make |
| global | make cooper challeng learn crisi | global | problem requir global solut increas |
| global | learn crisi global problem requir | global | solut increas interconnect world need |
| need | global solut increas interconnect world | need | polici right nation interest right |
| polici | solut increas interconnect world need | polici | right nation interest right global |
| global | polici right nation interest right | global | interest imf nearunivers membership countri |
| countri | global interest imf nearunivers membership | countri | vital role play promot intern |
| global | firm establish provid time warn | global | policymak last year financi sector |
| countri | assess program fsap made mandatori | countri | system financi sector ongo trilater |
| growth | particular spillov capit flow qualiti | growth | first issu spillov last decad |
| countri | wit tremend increas interlinkag among | countri | trade especi financ interlinkag provid |
| financ | interlinkag among countri trade especi | financ | interlinkag provid great opportun invest |
| growth | interlinkag provid great opportun invest | growth | rise interlinkag also make countri |
| also | opportun invest growth rise interlinkag | also | make countri expos spillov polici |
| countri | growth rise interlinkag also make | countri | expos spillov polici decis econom |
| polici | also make countri expos spillov | polici | decis econom develop countri mind |
| econom | countri expos spillov polici decis | econom | develop countri mind focus improv |
| countri | spillov polici decis econom develop | countri | mind focus improv understand interlinkag |
| polici | improv understand interlinkag support better | polici | collabor year undertak indepth analysi |
| economi | analysi outward spillov five largest | economi | world china euro area japan |
| countri | spillov report discuss board alongsid | countri | articl iv report juli shed |
| countri | juli shed light impact one | countri | region polic other hope facilit |
| polici | other hope facilit process find | polici | serv nation global interest also |
| global | process find polici serv nation | global | interest also support g effort |
| also | polici serv nation global interest | also | support g effort increas polici |
| polici | also support g effort increas | polici | collabor goal secur strong sustain |
| global | goal secur strong sustain balanc | global | growth g mutual assess process |
| growth | secur strong sustain balanc global | growth | g mutual assess process map |
| polici | substanti progress creat forum product | polici | dialogu current phase map focus |
| global | focus intern extern imbal problemat | global | growth stabil analyt support imf |
| growth | intern extern imbal problemat global | growth | stabil analyt support imf g |
| countri | grown domin intern transact mani | countri | capit flow confer mani benefit |
| economi | size year come reflect emerg | economi | impress growth potenti recipi countri |
| growth | come reflect emerg economi impress | growth | potenti recipi countri author typic |
| countri | economi impress growth potenti recipi | countri | author typic concern cope volatil |
| polici | deal surg capit inflow macroeconom | polici | though capit flow manag measur |
| countri | could use certain circumst general | countri | advis adopt structur reform includ |
| market | reform includ deepen domest financi | market | increas capac absorb capit inflow |
| countri | behind capit flow supplier recipi | countri | also explor voluntari cooper approach |
| also | capit flow supplier recipi countri | also | explor voluntari cooper approach global |
| global | also explor voluntari cooper approach | global | capit flow perhap agre refer |
| countri | perhap agre refer framework individu | countri | polici could help make less |
| polici | agre refer framework individu countri | polici | could help make less volatil |
| growth | role discuss third issu qualiti | growth | impact macroeconom sustain recent develop |
| economi | macroeconom stabil appli mani advanc | economi | well high unemploy remain serious |
| polici | must play bigger role analysi | polici | advic strengthen global financi safeti |
| global | role analysi polici advic strengthen | global | financi safeti netturn briefli develop |
| global | safeti netturn briefli develop regard | global | financi safeti net ve alreadi |
| polici | flexibl credit line member whose | polici | alreadi deem appropri precautionari credit |
| polici | precautionari credit line member implement | polici | adjust howev doubt remain whether |
| global | adjust howev doubt remain whether | global | financi safeti net adequ reflect |
| need | cost occur gain better appreci | need | global liquid time stress look |
| global | occur gain better appreci need | global | liquid time stress look care |
| economi | crossbord linkag across differ type | economi | analysi past system crise polici |
| polici | economi analysi past system crise | polici | respons also continu discuss possibl |
| also | past system crise polici respons | also | continu discuss possibl way provid |
| also | ongo work role composit sdr | also | hold potenti improv mechan provid |
| global | hold potenti improv mechan provid | global | liquid conclusiona global recoveri strengthen |
| global | mechan provid global liquid conclusiona | global | recoveri strengthen might expect policymak |
| global | focus domest prioriti worri less | global | issu increas interconnect world two |
| economi | recent crisi demonstr even largest | economi | cannot effect set polici vacuum |
| polici | largest economi cannot effect set | polici | vacuum effect intern cooper improv |
| econom | vacuum effect intern cooper improv | econom | prospect best sustain collabor part |
| global | collabor part imf increas understand | global | econom interlinkag demonstr analyt benefit |
| econom | part imf increas understand global | econom | interlinkag demonstr analyt benefit enhanc |
| polici | interlinkag demonstr analyt benefit enhanc | polici | collabor facilit intern dialogu need |
| need | polici collabor facilit intern dialogu | need | find global solut bretton wood |
| global | facilit intern dialogu need find | global | solut bretton wood committe also |
| also | global solut bretton wood committe | also | play import part summon policymak |
| global | intern cooper remind leader act | global | interest act direct nation interest |
| financ | opportun address emin gather offici | financ | expert distinguish guest particular grate |
| economi | chanc discuss path ahead china | economi | context broad issu explor histor |
| econom | like address one aspect china | econom | transform import implic investor policymak |
| growth | sector reform promot balanc sustain | growth | area receiv promin attent th |
| econom | import boost desir transform china | econom | growth model fact goal featur |
| growth | boost desir transform china econom | growth | model fact goal featur promin |
| global | modern reform financi system prior | global | financi crisi tremend progress made |
| global | increas effici profit particular came | global | financi crisi product excess risktak |
| global | reflect expand role respons regard | global | econom govern hit hard global |
| econom | expand role respons regard global | econom | govern hit hard global downturn |
| global | global econom govern hit hard | global | downturn trade channel china emerg |
| global | surfac later howev would argu | global | financi crisi anoth subtl impact |
| market | dramat crisi major wellestablish financi | market | natur respons appropri respons china |
| econom | financi reform support china domest | econom | develop issu also bear outlook |
| also | china domest econom develop issu | also | bear outlook china extern imbal |
| econom | consumpt boost corpor save distort | econom | decisionmak done well design program |
| econom | goal acceler transit better balanc | econom | growth process recogn wide china |
| growth | acceler transit better balanc econom | growth | process recogn wide china broad |
| econom | process recogn wide china broad | econom | interest also commerci interest bank |
| also | wide china broad econom interest | also | commerci interest bank central import |
| growth | stood way remark period strong | growth | steer clear serious financi sector |
| economi | howev prospect valu reform increas | economi | matur becom complex implement reform |
| need | matur becom complex implement reform | need | requir clear roadmap care sequenc |
| also | exist control capit flow step | also | permit china internation renminbi appropri |
| financ | currenc freeli usabl intern trade | financ | time china currenc doubt becom |
| global | system goal augment suppli safe | global | asset improv provis crisisrel liquid |
| need | major currenc ultim reduc perceiv | need | intern reserv accumul m sure |
| market | improv financi oversight develop financi | market | encourag financi innov interest rate |
| market | financi innov interest rate determin | market | forc make renminbi freeli usabl |
| also | renminbi freeli usabl intern transact | also | note imf work intens chines |
| need | fsap identifi priorit princip task | need | strengthen china financi system confid |
| need | th five year plan process | need | handl skill flexibl undoubt unexpect |
| also | way requir good judgment innov | also | confid clariti purpos intellectu rigor |
| global | recess financi sector reform key | global | task yet unfinish thus particip |
| also | topic high relev policymak let | also | thank panelist moder give us |
| economi | give us time thought asian | economi | could sustain recoveri make growth |
| growth | economi could sustain recoveri make | growth | broadbas inclus perhap biggest thank |
| economi | poverti catch live standard advanc | economi | asian economi need adapt growth |
| economi | live standard advanc economi asian | economi | need adapt growth model chang |
| need | standard advanc economi asian economi | need | adapt growth model chang global |
| growth | economi asian economi need adapt | growth | model chang global environ key |
| global | need adapt growth model chang | global | environ key featur world economi |
| economi | global environ key featur world | economi | recent decad asia emerg econom |
| econom | economi recent decad asia emerg | econom | powerhous center global econom growth |
| global | asia emerg econom powerhous center | global | econom growth move west asia |
| econom | emerg econom powerhous center global | econom | growth move west asia particular |
| growth | econom powerhous center global econom | growth | move west asia particular emerg |
| economi | emerg asia last year asian | economi | grown percent annual implic doubl |
| growth | base larg part outward orient | growth | china reform open polici launch |
| polici | orient growth china reform open | polici | launch perhap promin exampl move |
| market | promin exampl move toward give | market | forc greater play encourag product |
| need | recognit develop impetus provid export | need | support strengthen domest sourc growth |
| growth | need support strengthen domest sourc | growth | global financi crisi highlight urgenc |
| global | support strengthen domest sourc growth | global | financi crisi highlight urgenc transform |
| global | financi crisi highlight urgenc transform | global | demand dramat lower essenti two |
| growth | two reason strengthen domest sourc | growth | one hand global recoveri recent |
| global | domest sourc growth one hand | global | recoveri recent financi crisi twospe |
| countri | world grow strong recoveri advanc | countri | remain weak thus asia cannot |
| growth | cannot depend extern demand sustain | growth | momentum second strengthen domest sourc |
| growth | momentum second strengthen domest sourc | growth | lead inclus growth process make |
| growth | domest sourc growth lead inclus | growth | process make growth broadbas less |
| growth | lead inclus growth process make | growth | broadbas less reliant export sector |
| growth | thus enhanc employ opportun broadbas | growth | process also like lead less |
| also | employ opportun broadbas growth process | also | like lead less inequ societi |
| growth | inequ societi second point make | growth | inclus stress panelist panelist refer |
| countri | remain poverti still widespread lowincom | countri | region particular rural area learnt |
| growth | africa region import promot inclus | growth | growth asia lead creation enough |
| growth | region import promot inclus growth | growth | asia lead creation enough privat |
| econom | labor forc promot equal access | econom | opportun citizen realiz potenti provid |
| growth | protect vulner strengthen domest sourc | growth | first one size fit approach |
| growth | fit approach contribut domest sourc | growth | overal growth vari across region |
| growth | contribut domest sourc growth overal | growth | vari across region first point |
| countri | consumpt gdp china mani asia | countri | privat invest relat subdu mani |
| polici | relat subdu mani year therefor | polici | need differ vantag point two |
| need | subdu mani year therefor polici | need | differ vantag point two import |
| economi | hold back invest number asian | economi | first relat shortfal infrastructur suppress |
| financ | suppress return privat invest second | financ | constraint effect greater infrastructur invest |
| financ | still lag apart infrastructur bottleneck | financ | constraint also affect invest particular |
| also | apart infrastructur bottleneck financ constraint | also | affect invest particular smaller firm |
| market | crisi ampl room deepen financi | market | region exampl corpor bond market |
| market | market region exampl corpor bond | market | still small mani part asia |
| also | still small mani part asia | also | clear today discuss larg capit |
| polici | larg capit inflow asia challeng | polici | maker confront need manag volatil |
| need | asia challeng polici maker confront | need | manag volatil capit inflow sometim |
| also | sometim jeopard macroeconom stabil inflow | also | present opportun provid necessari financ |
| financ | also present opportun provid necessari | financ | new engin growth composit inflow |
| growth | provid necessari financ new engin | growth | composit inflow shift favor longerterm |
| need | panelist har privatepubl partnership much | need | infrastructur invest import avenu promot |
| market | import avenu promot asian bond | market | especi longer matur end let |
| polici | monetari exchang rate financi sector | polici | financi aid packag includ support |
| countri | reform reduc poverti put lowincom | countri | higher sustain growth trajectori |
| growth | put lowincom countri higher sustain | growth | trajectori |
| also | th u franc bilater dialogu | also | wish thank ambassador mme delattr |
| global | pleas ask organ focus remark | global | econom develop impact transatlant relat |
| econom | ask organ focus remark global | econom | develop impact transatlant relat find |
| also | find issu import time explain | also | find answer uncertain anticip cours |
| global | three arena europ unit state | global | economi thus central recur theme |
| economi | arena europ unit state global | economi | thus central recur theme remark |
| econom | turn point hand regard critic | econom | polici issu side atlant particular |
| polici | point hand regard critic econom | polici | issu side atlant particular european |
| need | particular european union today confront | need | implement effect crucial initi alreadi |
| econom | undertaken remain incomplet address serious | econom | financi architectur strain current afflict |
| polici | level unit state unpreced anticrisi | polici | effort inflat feder deficit rais |
| global | debat time turn point evid | global | level regard econom govern histor |
| econom | point evid global level regard | econom | govern histor shift relat econom |
| econom | econom govern histor shift relat | econom | weight reflect evolv framework econom |
| econom | econom weight reflect evolv framework | econom | polici cooper direct ultim taken |
| polici | weight reflect evolv framework econom | polici | cooper direct ultim taken three |
| economi | cours point view euro area | economi | whole recoveri solid growth last |
| growth | area economi whole recoveri solid | growth | last year reach imf world |
| econom | last year reach imf world | econom | outlook base case forecast anticip |
| growth | outlook base case forecast anticip | growth | rate year next moreov overal |
| countri | time larg diverg exist across | countri | serious downsid risk case could |
| economi | emerg sever peripher euro area | economi | essenti financi market pressur build |
| market | euro area economi essenti financi | market | pressur build economi contagion risk |
| economi | essenti financi market pressur build | economi | contagion risk creat larger euro |
| economi | risk creat larger euro area | economi | bank system overcom requir measur |
| countri | system overcom requir measur cut | countri | budget deficit strengthen public sector |
| econom | structur reform boost prospect faster | econom | employ growth emerg challeng postcrisi |
| growth | boost prospect faster econom employ | growth | emerg challeng postcrisi environ underscor |
| economi | fiscal problem peripher euro area | economi | demonstr stabil growth pact effect |
| growth | euro area economi demonstr stabil | growth | pact effect second lack oper |
| market | areawid institut support singl financi | market | third lack structur reform economi |
| economi | market third lack structur reform | economi | produc wide variat competit within |
| countri | exist provid financi support member | countri | face serious strain financi market |
| market | countri face serious strain financi | market | pressur mount wake crisi sever |
| countri | wake crisi sever euro area | countri | correct action undertaken nation level |
| market | bank abil euro area sovereign | market | debt preexist european financi stabil |
| countri | intern monetari fund help member | countri | design stabil reform program provid |
| market | taken underpin european singl financi | market | includ establish european bank author |
| growth | institut includ propos bolster stabil | growth | pact sgp interest credibl fiscal |
| market | remain uncertain moreov current financi | market | price demonstr even substanti effort |
| need | yet clear new effort go | need | howev far certain necessari polit |
| need | member eventu end adopt measur | need | protect preserv singl market singl |
| market | measur need protect preserv singl | market | singl currenc assum look back |
| market | equal demand implicit true singl | market | econom argument chang power nonetheless |
| econom | demand implicit true singl market | econom | argument chang power nonetheless simpli |
| polici | wait see whether translat effect | polici | action wait long howev market |
| market | polici action wait long howev | market | pressur intens still build virtual |
| market | renew progress toward singl european | market | underpin solid institut sustain polici |
| polici | market underpin solid institut sustain | polici | make europ effect attract partner |
| market | euroskept six month ago overwhelm | market | consensus held move portug negoti |
| econom | consensus held move portug negoti | econom | program troika ececbimf immedi would |
| economi | next unit state world largest | economi | face challeng econom financi leadership |
| econom | world largest economi face challeng | econom | financi leadership two princip sourc |
| countri | sourc first plausibl wide recogn | countri | ceas world largest economi real |
| economi | recogn countri ceas world largest | economi | real gdp term within decad |
| financ | success task reform u public | financ | daunt econom polici challeng current |
| econom | reform u public financ daunt | econom | polici challeng current face u |
| polici | u public financ daunt econom | polici | challeng current face u author |
| polici | ii moreov keep rise absenc | polici | adjust reflect main pressur popul |
| need | primari budget balanc nonetheless action | need | achiev longrun fiscal sustain clear |
| growth | broadbas measur requir includ curb | growth | discretionari spend import reform entitl |
| also | feder govern health care spend | also | import adjust effort fundament tax |
| need | revenu relat gdp despit skeptic | need | disciplin adopt implement u polit |
| polici | u polit discours regard budget | polici | shift sharpli recent month budget |
| growth | would indic fundament factor dampen | growth | prospect recent market reaction downgrad |
| market | factor dampen growth prospect recent | market | reaction downgrad standard poor u |
| market | outlook shortliv hint possibl financi | market | turmoil could occur countri fail |
| countri | financi market turmoil could occur | countri | fail enact credibl fiscal consolid |
| also | enact credibl fiscal consolid scenario | also | would creat cost countri global |
| countri | scenario also would creat cost | countri | global interest rate like would |
| global | also would creat cost countri | global | interest rate like would increas |
| also | cost capit investor everywher inact | also | could lead signific adjust global |
| global | also could lead signific adjust | global | foreign exchang market signific u |
| market | signific adjust global foreign exchang | market | signific u dollar weaken could |
| global | demand key trade partner higher | global | interest rate appreci euro could |
| financ | peripheri thus put u govern | financ | back sustain path nation import |
| polici | nation import note u monetari | polici | also subject unpreced challeng econom |
| also | import note u monetari polici | also | subject unpreced challeng econom downturn |
| econom | polici also subject unpreced challeng | econom | downturn coupl financi crisi respons |
| polici | sheet balloon elicit critic fed | polici | becom excess expansionari part fed |
| polici | part fed offici confid possess | polici | tool need insur abl withdraw |
| need | offici confid possess polici tool | need | insur abl withdraw monetari stimulus |
| economi | fiscal challeng overal resili u | economi | analog european case unit state |
| global | stronger partner tradit transatlant alli | global | governanceeven assum u success restor |
| global | remain unit state relat share | global | gdp tend declin come year |
| global | less demand partner bring topic | global | govern import area recent crisi |
| global | motiv potentiallysignific chang cours transform | global | economi remark standard emerg develop |
| economi | potentiallysignific chang cours transform global | economi | remark standard emerg develop nation |
| countri | nation group enjoy tremend gain | countri | previous lag behind technolog today |
| market | innov thank larg part open | market | transmiss idea avail financ base |
| financ | open market transmiss idea avail | financ | base growth rate demograph trend |
| growth | transmiss idea avail financ base | growth | rate demograph trend shift global |
| global | growth rate demograph trend shift | global | econom weight advanc economi develop |
| econom | rate demograph trend shift global | econom | weight advanc economi develop emerg |
| economi | shift global econom weight advanc | economi | develop emerg economi set continu |
| economi | weight advanc economi develop emerg | economi | set continu emerg g lead |
| econom | g lead forum dialogu financi | econom | polici import express perceiv need |
| polici | lead forum dialogu financi econom | polici | import express perceiv need shift |
| need | econom polici import express perceiv | need | shift global govern crisi g |
| global | import express perceiv need shift | global | govern crisi g provid valuabl |
| polici | g provid valuabl effect forum | polici | cooper among world largest economi |
| economi | polici cooper among world largest | economi | supplant mani way g g |
| global | earli demonstr graphic concret benefit | global | polici cooper without crisi almost |
| polici | demonstr graphic concret benefit global | polici | cooper without crisi almost certain |
| global | almost certain would far deeper | global | economi recov crisi g implement |
| economi | certain would far deeper global | economi | recov crisi g implement framework |
| growth | implement framework strong sustain balanc | growth | mutual assess process map map |
| polici | map map repres ongo process | polici | cooper base serious analyt foundat |
| polici | essenc map reflect concret recognit | polici | develop implement coher process produc |
| polici | superior outcom particip relat situat | polici | set independ map greet initi |
| financ | consensus expect degre exampl g | financ | minist april meet agre detail |
| economi | agre detail assess seven major | economi | whose imbal area privat public |
| global | could repres potenti system risk | global | economi action plan prepar leader |
| economi | repres potenti system risk global | economi | action plan prepar leader examin |
| also | success taken serious key particip | also | process produc posit outcom like |
| global | posit outcom like last influenc | global | relat well transatlant relat first |
| econom | agenda g g g deal | econom | financi sector issu lie heart |
| econom | level play field set broad | econom | polici prioriti success map impli |
| polici | play field set broad econom | polici | prioriti success map impli would |
| polici | analyt cooper approach set macroeconom | polici | largest economi would suit side |
| economi | approach set macroeconom polici largest | economi | would suit side transatlant relationship |
| also | suit side transatlant relationship well | also | expect situat would tend strengthen |
| global | opportun mention imf adapt new | global | econom realiti histor govern reform |
| econom | mention imf adapt new global | econom | realiti histor govern reform fund |
| market | deliv greater voic dynam emerg | market | economi latest round alreadi agre |
| economi | greater voic dynam emerg market | economi | latest round alreadi agre reform |
| economi | state japan four largest european | economi | time voic poorest member protect |
| need | rest eventu role respons g | need | becom clear defin regard univers |
| econom | outlook european institut govern u | econom | prospect longterm polici disciplin global |
| polici | govern u econom prospect longterm | polici | disciplin global econom polici govern |
| global | econom prospect longterm polici disciplin | global | econom polici govern current turn |
| econom | prospect longterm polici disciplin global | econom | polici govern current turn point |
| polici | longterm polici disciplin global econom | polici | govern current turn point influenc |
| global | even context ongo ultim success | global | come month year go especi |
| polici | hotbutton issu policymak name macroprudenti | polici | begin explain behind hype import |
| polici | rest world discuss think macroprudenti | polici | head learn date macroprudenti polici |
| polici | polici head learn date macroprudenti | polici | matterswhen global financi system thrown |
| global | learn date macroprudenti polici matterswhen | global | financi system thrown crisi mani |
| polici | cannot address tradit mix macroeconom | polici | microprudenti measur aim individu financi |
| polici | health financi system whole macroprudenti | polici | improv author grasp intric web |
| market | web connect financi institut financi | market | macroeconomi new tool would enhanc |
| market | concentr risk certain financi institut | market | high interconnect within across nation |
| polici | sinc progress made develop macroprudenti | polici | set measur institut framework specif |
| countri | margin contribut system risk mani | countri | experi macroprudenti polici europ exampl |
| polici | risk mani countri experi macroprudenti | polici | europ exampl recent seen launch |
| polici | various nation institut arrang financi | polici | committe uk financi regul system |
| market | council similar institut chang emerg | market | economi mexico malaysia countri sought |
| economi | similar institut chang emerg market | economi | mexico malaysia countri sought address |
| countri | emerg market economi mexico malaysia | countri | sought address risk real estat |
| market | sought address risk real estat | market | put limit loantovalu ratio hong |
| countri | cap debttoincom ratio south korea | countri | use direct monetari polici instrument |
| polici | korea countri use direct monetari | polici | instrument constrain credit suppli boom |
| growth | boom instrument includ limit level | growth | rate aggreg credit specif exposur |
| also | colombia china india saudi arabia | also | fiscal polici measur stamp duti |
| polici | india saudi arabia also fiscal | polici | measur stamp duti properti hold |
| market | hold tame specul real estat | market | china hong kong recent structur |
| polici | bank european union seen structur | polici | propos restrict short sell limit |
| need | tool uneven therefor greater effort | need | transform polici patchwork effect intern |
| polici | therefor greater effort need transform | polici | patchwork effect intern coher crisi |
| economi | crisi prevent toolkit group lead | economi | ask imf financi stabil board |
| polici | settlement develop coher framework new | polici | develop coher polici framework challeng |
| polici | framework new polici develop coher | polici | framework challeng task nation policymak |
| polici | imf work clarifi concept macroprudenti | polici | role preserv financi stabil learn |
| need | point first use abus itw | need | lay clear understand macroprudenti polici |
| polici | need lay clear understand macroprudenti | polici | cannot macroprudenti polici seek limit |
| polici | understand macroprudenti polici cannot macroprudenti | polici | seek limit system financi risk |
| econom | prevent financi instabl associ social | econom | cost systemwid perspect import socal |
| polici | socal fallaci composit tradit prudenti | polici | action appropri individu firm may |
| market | institut bank nonbank alik instrument | market | infrastructur macroprudenti polici substitut robust |
| polici | alik instrument market infrastructur macroprudenti | polici | substitut robust prudenti polici tradit |
| polici | macroprudenti polici substitut robust prudenti | polici | tradit kind call microprudenti polici |
| polici | polici tradit kind call microprudenti | polici | primarili aim ensur solid individu |
| polici | institut clear substitut sound macroeconom | polici | macroprudenti polici need defin narrowli |
| polici | substitut sound macroeconom polici macroprudenti | polici | need defin narrowli encourag expect |
| need | sound macroeconom polici macroprudenti polici | need | defin narrowli encourag expect cannot |
| polici | institut necessari precondit effect macroprudenti | polici | monetari fiscal polici remain first |
| polici | effect macroprudenti polici monetari fiscal | polici | remain first line defens macroeconom |
| polici | macroeconom distort imbal develop macroprudenti | polici | must clear polici innov use |
| polici | develop macroprudenti polici must clear | polici | innov use excus avoid difficult |
| polici | macroeconom choic equal import independ | polici | area includ monetari microprudenti polici |
| polici | polici area includ monetari microprudenti | polici | undermin name macroprudenti polici institut |
| polici | microprudenti polici undermin name macroprudenti | polici | institut arrang macroprudenti polici embed |
| polici | macroprudenti polici institut arrang macroprudenti | polici | embed becom trojan hors undermin |
| polici | becom trojan hors undermin hardwon | polici | autonomi area thus macroprudenti polici |
| polici | polici autonomi area thus macroprudenti | polici | coordin manner compat achiev polici |
| polici | polici coordin manner compat achiev | polici | object requir appropri separ mandat |
| polici | pursuit financi stabilityno matter differ | polici | mandat structur ensur financi stabil |
| polici | ensur financi stabil share respons | polici | financi stabil secondari object lose |
| polici | especi promin role play microprudenti | polici | monetari polici affect amount risk |
| polici | role play microprudenti polici monetari | polici | affect amount risk financi system |
| polici | exampl larger buffer creat microprudenti | polici | smaller need macroprudenti polici step |
| need | buffer creat microprudenti polici smaller | need | macroprudenti polici step macroprudenti polici |
| polici | microprudenti polici smaller need macroprudenti | polici | step macroprudenti polici interact complex |
| polici | need macroprudenti polici step macroprudenti | polici | interact complex way yet fulli |
| polici | complex way yet fulli understood | polici | conflict may aris instanc monetari |
| polici | conflict may aris instanc monetari | polici | loosen long period macroprudenti polici |
| polici | polici loosen long period macroprudenti | polici | may want becom tighter avoid |
| polici | tighter avoid excess risktak macroprudenti | polici | encourag draw bank capit buffer |
| polici | downturn sustain flow credit microprudenti | polici | may inclin keep buffer unchang |
| polici | risk call mechan coordin across | polici | may take institut form board |
| polici | author inform consult key decis | polici | also affect financi system clear |
| also | inform consult key decis polici | also | affect financi system clear done |
| polici | manner fulli respect independ monetari | polici | yet point address system risk |
| also | yet point address system risk | also | requir polici action coordin particular |
| polici | address system risk also requir | polici | action coordin particular import context |
| polici | context oper control instrument macroprudenti | polici | may may rest macroprudenti bodi |
| polici | risk board exampl direct control | polici | instrument third one size fit |
| polici | play promin role design macroprudenti | polici | framework one size fit tool |
| countri | toolkit chosen institut setup vari | countri | countri depend level develop financi |
| countri | chosen institut setup vari countri | countri | depend level develop financi structur |
| polici | depend level develop financi structur | polici | regim histor polit factor key |
| market | bank expertis monitor macroeconom financi | market | develop could help shape polici |
| polici | market develop could help shape | polici | aim contain buildup system risk |
| polici | risk given exist role monetari | polici | payment system central bank well |
| polici | greater clariti benefit cost macroprudenti | polici | also bring muchneed reput independ |
| also | clariti benefit cost macroprudenti polici | also | bring muchneed reput independ final |
| polici | strong institut incent ensur macroprudenti | polici | effect central bank take cost |
| need | central bank regulatori supervisori agenc | need | involv adequ manner would need |
| need | need involv adequ manner would | need | activ macroprudenti polici tool case |
| polici | manner would need activ macroprudenti | polici | tool case tool oper control |
| financ | oper control macroprudenti bodi involv | financ | ministri pros con would valuabl |
| polici | valuabl import take account fiscal | polici | instrument financ ministri could also |
| financ | take account fiscal polici instrument | financ | ministri could also play pivot |
| also | polici instrument financ ministri could | also | play pivot role discuss legisl |
| financ | import risk associ strong role | financ | ministri elect cycl polit consider |
| financ | crucial delay applic macroprudenti measur | financ | ministri involv way jeopard process |
| polici | use ita note earlier macroprudenti | polici | use primarili prudenti tool address |
| econom | countercycl bank capit charg lean | econom | cycl system capit surcharg grow |
| also | impact individu financi institut grow | also | rang tool alreadi use countri |
| countri | also rang tool alreadi use | countri | tradit prudenti tool adjust specif |
| polici | inact like aris benefit macroprudenti | polici | e absenc financi crise evid |
| polici | long run contrast cost macroprudenti | polici | tend high visibl often felt |
| also | often felt immedi form discret | also | need help adjust polici financi |
| need | felt immedi form discret also | need | help adjust polici financi sector |
| polici | discret also need help adjust | polici | financi sector evolv rapid specif |
| polici | choic incorpor rule case monetari | polici | leav scope discret adjust dynam |
| polici | dynam natur financi system macroprudenti | polici | requir continu monitor broad set |
| polici | relat sourc system risk macroprudenti | polici | also includ measur identifi system |
| also | sourc system risk macroprudenti polici | also | includ measur identifi system import |
| market | identifi system import financi institut | market | instrument well firm activ might |
| need | risk guid macroprudenti action henc | need | addit qualit assess includ supervisori |
| market | qualit assess includ supervisori assess | market | intellig last macroprudenti polici necessari |
| polici | assess market intellig last macroprudenti | polici | necessari magic bullet macroprudenti polici |
| polici | polici necessari magic bullet macroprudenti | polici | infanc mani issu remain unresolv |
| polici | risk measur strong evid macroprudenti | polici | fact prevent contain credit asset |
| polici | price bubbl transmiss mechan macroprudenti | polici | polici conflict resolv micro macroprudenti |
| polici | bubbl transmiss mechan macroprudenti polici | polici | conflict resolv micro macroprudenti polici |
| polici | polici conflict resolv micro macroprudenti | polici | relat address tradeoff stabil effici |
| polici | address tradeoff stabil effici macroprudenti | polici | make daunt task worth note |
| polici | note modern macroeconom evolv respons | polici | limit pain underscor great depress |
| polici | pain underscor great depress macroprudenti | polici | could prove next quantum leap |
| polici | leap illustr challeng develop macroprudenti | polici | framework use draw parallel monetari |
| polici | framework use draw parallel monetari | polici | polici precis defin object price |
| polici | use draw parallel monetari polici | polici | precis defin object price stabil |
| polici | object price stabil case macroprudenti | polici | system risk multidimension difficult measur |
| polici | multidimension difficult measur monitor monetari | polici | includ welldefin set polici tool |
| polici | monetari polici includ welldefin set | polici | tool contrast multipl possibl macroprudenti |
| polici | mani never appli practic monetari | polici | transmiss mechan better understood yet |
| polici | fulli understand equival mechan macroprudenti | polici | suggest need humbl ambit recogn |
| need | equival mechan macroprudenti polici suggest | need | humbl ambit recogn limit achiev |
| polici | comprehens analyt framework consist set | polici | tool includ rigor backtest establish |
| polici | assur system risk address potenti | polici | conflict manag cooper among nation |
| polici | ensur consist applic nation macroprudenti | polici | cooper macroprudenti polici reduc scope |
| polici | nation macroprudenti polici cooper macroprudenti | polici | reduc scope intern regulatori arbitrag |
| polici | arbitrag may undermin effect nation | polici | intern cooper also need contain |
| also | effect nation polici intern cooper | also | need contain risk associ system |
| need | nation polici intern cooper also | need | contain risk associ system import |
| polici | like stress even effect macroprudenti | polici | framework may panacea problem relat |
| polici | deal effect destruct threat macroprudenti | polici | support polici relat financi sector |
| polici | destruct threat macroprudenti polici support | polici | relat financi sector macroeconomi may |
| polici | may requir chang way monetari | polici | fiscal polici oper crisi price |
| polici | chang way monetari polici fiscal | polici | oper crisi price stabil maintain |
| polici | stabil maintain good news monetari | polici | guardian price stabil yet crisi |
| need | yet crisi shown adjust may | need | mani countri way monetari polici |
| countri | shown adjust may need mani | countri | way monetari polici pursu price |
| polici | need mani countri way monetari | polici | pursu price stabil object specif |
| polici | better account financi develop monetari | polici | analysi decis make process understand |
| polici | credit given import role monetari | polici | nonmechanist lean buildup financi imbal |
| growth | conduct imf suggest ad credit | growth | monetari polici reaction function improv |
| polici | suggest ad credit growth monetari | polici | reaction function improv macroeconom stabil |
| economi | reaction function improv macroeconom stabil | economi | hit financi shock polici reaction |
| polici | stabil economi hit financi shock | polici | reaction guid standard taylor rule |
| need | lend standard credit acceler effect | need | truli countercycl fiscal polici extent |
| polici | effect need truli countercycl fiscal | polici | extent countercycl built fiscal polici |
| polici | polici extent countercycl built fiscal | polici | form automat stabil howev current |
| polici | abil support crisi situat fiscal | polici | need accumul suffici high surplus |
| need | support crisi situat fiscal polici | need | accumul suffici high surplus good |
| polici | substanti improv qualiti fiscal institut | polici | framework imf stand readi support |
| polici | stand readi support nation intern | polici | reform surveil mandat financi sector |
| polici | fsb bis enhanc understand macroprudenti | polici | joint progress report present g |
| polici | novemb tri explain talk macroprudenti | polici | still infanc silver bullet avoid |
| polici | avoid futur crise use addit | polici | framework aim preserv econom financi |
| econom | addit polici framework aim preserv | econom | financi stabil let use proper |
| econom | keyn state follow outstand fault | econom | societi live failur provid full |
| market | time unemploy inequ undermin achiev | market | economi sow seed instabl mani |
| economi | unemploy inequ undermin achiev market | economi | sow seed instabl mani countri |
| countri | economi sow seed instabl mani | countri | lack econom opportun lead unproduct |
| econom | seed instabl mani countri lack | econom | opportun lead unproduct activ polit |
| growth | play middl east north africa | growth | beset social tension conduc econom |
| econom | growth beset social tension conduc | econom | financi stabil imf cannot indiffer |
| growth | around today concern regard recoveri | growth | least advanc economi creat job |
| economi | regard recoveri growth least advanc | economi | creat job share broad mani |
| countri | share broad mani peopl mani | countri | face social crisi everi bit |
| countri | possibl whole lost generat mani | countri | inequ record high face challeng |
| need | probabl second great depress today | need | similar full forc forward respons |
| need | forward respons ensur get recoveri | need | mean recoveri sustain balanc among |
| countri | mean recoveri sustain balanc among | countri | also one bring employ fair |
| also | recoveri sustain balanc among countri | also | one bring employ fair distribut |
| need | employ serious must done first | need | financi sector reform repair put |
| economi | put bank back servic real | economi | direct credit small mediumterm enterpris |
| growth | enterpris key driver employ inde | growth | obvious nurtur demand environ precondit |
| growth | obvious nurtur demand environ precondit | growth | job unemploy high sign under |
| polici | sign under inflationari pressur monetari | polici | support fiscal polici advanc countri |
| polici | pressur monetari polici support fiscal | polici | advanc countri need put fiscal |
| countri | polici support fiscal polici advanc | countri | need put fiscal posit sustain |
| need | support fiscal polici advanc countri | need | put fiscal posit sustain mediumterm |
| growth | mediumterm path pave way futur | growth | employ fiscal tighten lower growth |
| growth | growth employ fiscal tighten lower | growth | short term even increas longterm |
| growth | must done eye kept keen | growth | growth alon enough need direct |
| growth | done eye kept keen growth | growth | alon enough need direct labor |
| need | keen growth growth alon enough | need | direct labor market polici crisi |
| market | alon enough need direct labor | market | polici crisi taught us welldesign |
| polici | enough need direct labor market | polici | crisi taught us welldesign labor |
| market | crisi taught us welldesign labor | market | polici save job would disagre |
| polici | taught us welldesign labor market | polici | save job would disagre decent |
| economi | train help unemploy adapt chang | economi | especi relev job loss heavili |
| market | unhelp contrast flexibl rigid labor | market | ask instead polici effect creat |
| polici | rigid labor market ask instead | polici | effect creat sustain job sometim |
| countri | job sometim sometim must cooper | countri | need work togeth host issu |
| need | sometim sometim must cooper countri | need | work togeth host issu includ |
| global | regul crossbord resolut must cooper | global | rebalanc mani emerg market need |
| market | cooper global rebalanc mani emerg | market | need shift toward domest demand |
| need | global rebalanc mani emerg market | need | shift toward domest demand underpin |
| global | underpin vibrant middl class without | global | growth lack inequalitylet talk briefli |
| growth | vibrant middl class without global | growth | lack inequalitylet talk briefli second |
| countri | imf research suggest inequ make | countri | prone financi crise especi associ |
| also | larg financi sector imf research | also | show sustain growth time associ |
| growth | imf research also show sustain | growth | time associ equal incom distribut |
| countri | distribut challeng affect advanc develop | countri | need polici reduc inequ ensur |
| need | challeng affect advanc develop countri | need | polici reduc inequ ensur fairer |
| polici | affect advanc develop countri need | polici | reduc inequ ensur fairer distribut |
| growth | social partnership use framework allow | growth | gain adjust pain share fair |
| also | weo ve mention research inequ | also | support tax financi activ pay |
| polici | first work ilo better understand | polici | behind jobcreat growth second cooper |
| growth | better understand polici behind jobcreat | growth | second cooper ilo consult ituc |
| countri | consult labor employ govern three | countri | bulgaria dominican republ zambia third |
| countri | effect social protect floor lowincom | countri | weekend key policymak world assembl |
| economi | assembl washington take puls world | economi | intend present relat hope pictur |
| also | relat hope pictur recoveri solidifi | also | remind behind number mani peopl |
| growth | mani peopl still seen fruit | growth | conclusionlet conclud thousand year ago |
| growth | middl class propel demand see | growth | lead decent job growth reward |
| growth | see growth lead decent job | growth | reward favor margin mani ultim |
| econom | ultim employ equiti build block | econom | stabil prosper polit stabil peac |
| polici | imf mandat must place heart | polici | agenda thank much |
| global | point present slide discuss briefli | global | econom set focus outlook asean |
| econom | present slide discuss briefli global | econom | set focus outlook asean economi |
| economi | econom set focus outlook asean | economi | major risk risk relat new |
| polici | north africa offer view result | polici | challeng region last touch upon |
| global | reform strengthen intern monetari system | global | econom outlook far global econom |
| econom | strengthen intern monetari system global | econom | outlook far global econom recoveri |
| global | system global econom outlook far | global | econom recoveri evolv broad anticip |
| econom | global econom outlook far global | econom | recoveri evolv broad anticip financi |
| economi | condit continu improv expect emerg | economi | east asia continu grow healthi |
| global | pressur one hand downsid risk | global | economi particular higher oil price |
| economi | one hand downsid risk global | economi | particular higher oil price remain |
| economi | remain financi fiscal vulner advanc | economi | devast earthquak tsunami japan also |
| also | economi devast earthquak tsunami japan | also | cast pall region outlook given |
| economi | longer term main challeng asian | economi | remain achiev balanc inclus pattern |
| growth | remain achiev balanc inclus pattern | growth | global econom outlook broad unchang |
| global | achiev balanc inclus pattern growth | global | econom outlook broad unchang januari |
| econom | balanc inclus pattern growth global | econom | outlook broad unchang januari world |
| econom | outlook broad unchang januari world | econom | outlook weo updat slide slowdown |
| econom | updat slide slowdown second half | econom | activ pick toward end advanc |
| economi | pick toward end advanc emerg | economi | recent industri product manufactur pmis |
| econom | manufactur pmis retail sale suggest | econom | activ like consolid sever advanc |
| economi | activ like consolid sever advanc | economi | particular unit state remain strong |
| economi | unit state remain strong emerg | economi | result see global growth reach |
| global | strong emerg economi result see | global | growth reach  ½ percent |
| growth | emerg economi result see global | growth | reach  ½ percent real |
| economi | percent real gdp emerg develop | economi | expand  ½ percent wherea |
| growth | expand  ½ percent wherea | growth | advanc economi would  ½ |
| economi | ½ percent wherea growth advanc | economi | would  ½ percent asia |
| global | world far singl largest contributor | global | growth although strong rebound expans |
| growth | far singl largest contributor global | growth | although strong rebound expans proceed |
| economi | project broaden main emerg develop | economi | reflect differ growth pattern global |
| growth | emerg develop economi reflect differ | growth | pattern global headlin inflat pick |
| global | economi reflect differ growth pattern | global | headlin inflat pick  ½ |
| economi | percent decemb approach percent advanc | economi | exceed percent emerg develop economi |
| economi | economi exceed percent emerg develop | economi | thus far rise inflat emerg |
| economi | far rise inflat emerg develop | economi | main reflect behavior food energi |
| economi | price higher weight consum basket | economi | howev look ahead expect core |
| economi | ahead expect core inflat emerg | economi | rise well excess capac diminish |
| polici | diminish overal forecast assum macroeconom | polici | general remain expansionari global level |
| global | macroeconom polici general remain expansionari | global | level concern global recoveri might |
| global | remain expansionari global level concern | global | recoveri might set back fiscal |
| economi | set back fiscal tighten advanc | economi | weaken fact fiscal deficit advanc |
| economi | weaken fact fiscal deficit advanc | economi | expect remain high percent gdp |
| economi | gdp withdraw fiscal stimulus advanc | economi | appear fair limit  ¼ |
| polici | gdp anticip octob weo macroeconom | polici | also expect remain stimul mani |
| also | anticip octob weo macroeconom polici | also | expect remain stimul mani emerg |
| economi | remain stimul mani emerg develop | economi | despit cyclic posit risk advanc |
| economi | despit cyclic posit risk advanc | economi | reced somewhat remain downsid mani |
| economi | balanc sheet particular euro area | economi | still moribund real estat market |
| market | economi still moribund real estat | market | especi u continu present major |
| polici | continu present major concern fortun | polici | respons spanish author strong particular |
| market | bank sector pension reform result | market | pressur eas spread remain high |
| market | renew turbul advanc sovereign debt | market | could trigger unsuccess sovereign bank |
| global | stronger privatel demand togeth heighten | global | risk avers stall advanc economi |
| economi | global risk avers stall advanc | economi | recoveri would quick spread develop |
| economi | would quick spread develop emerg | economi | real financi channel meanwhil mani |
| economi | financi channel meanwhil mani emerg | economi | face differ risk present overh |
| global | exert addit upward pressur price | global | backdrop outlook asia asean economi |
| economi | global backdrop outlook asia asean | economi | slide asia enter strong econom |
| econom | economi slide asia enter strong | econom | momentum thank domest demand export |
| growth | demand export howev expect pace | growth | reach percent region whole unchang |
| econom | region whole unchang octob region | econom | outlook expect mark differ econom |
| econom | econom outlook expect mark differ | econom | perform across region japan growth |
| growth | econom perform across region japan | growth | expect moder almost percent perhap |
| econom | earthquak tsunami baselin scenario expect | econom | spillov natur disast japan rest |
| growth | region product network emerg asia | growth | project around percent close estim |
| growth | slight  ½ percent averag | growth | rate five year rapid econom |
| econom | growth rate five year rapid | econom | expans preced global financi crisi |
| global | year rapid econom expans preced | global | financi crisi china india expect |
| growth | expect lead rest region china | growth | expect moder  ¼ percent |
| polici | ¼ percent  ½ percent | polici | tighten slow invest indonesia growth |
| growth | polici tighten slow invest indonesia | growth | expect remain upward trend percent |
| econom | public privat invest provid boost | econom | potenti meanwhil emerg asian economi |
| economi | econom potenti meanwhil emerg asian | economi | growth project moder cyclic peak |
| growth | potenti meanwhil emerg asian economi | growth | project moder cyclic peak toward |
| growth | averag slight lower precrisi potenti | growth | main account subdu postcrisi growth |
| growth | growth main account subdu postcrisi | growth | advanc economi develop asia growth |
| economi | account subdu postcrisi growth advanc | economi | develop asia growth outlook also |
| growth | growth advanc economi develop asia | growth | outlook also remain favor back |
| also | economi develop asia growth outlook | also | remain favor back strong commod |
| also | textil export bangladesh tourism cambodia | also | see favor growth outlook vietnam |
| growth | tourism cambodia also see favor | growth | outlook vietnam provid recent adopt |
| polici | implement decis sustain way restor | polici | credibl domest foreign investor confid |
| market | demand consum durabl advanc emerg | market | economi slide healthi corpor profit |
| economi | consum durabl advanc emerg market | economi | slide healthi corpor profit balanc |
| financ | profit balanc sheet coupl easi | financ | condit produc sharp turnaround invest |
| economi | sharp turnaround invest cycl advanc | economi | benefit asia particular transport machineri |
| also | come quarter asia like benefit | also | strong invest cycl emerg market |
| market | also strong invest cycl emerg | market | develop economi part relat favor |
| economi | invest cycl emerg market develop | economi | part relat favor export outlook |
| also | favor export outlook domest demand | also | remain robust firm alreadi oper |
| economi | oper close capac sever region | economi | need maintain add capit stock |
| need | close capac sever region economi | need | maintain add capit stock sustain |
| need | invest includ indonesia philippin moreov | need | build upgrad infrastructur like add |
| economi | invest demand includ mani asean | economi | india reflect reconstruct earthquak tsunami |
| market | employ wage combin tight labor | market | strong product growth polici measur |
| growth | tight labor market strong product | growth | polici measur boost household incom |
| polici | labor market strong product growth | polici | measur boost household incom includ |
| economi | sustain privat domest demand advanc | economi | moder may even upsid risk |
| global | risk asia export dynam stronger | global | recoveri nevertheless escal financi tension |
| growth | state meanwhil new downsid risk | growth | emerg region first turmoil middl |
| economi | inflat concern includ mani asean | economi | pose risk global growth direct |
| global | mani asean economi pose risk | global | growth direct impact higher oil |
| growth | asean economi pose risk global | growth | direct impact higher oil price |
| growth | direct impact higher oil price | growth | inflat like vari across asia |
| economi | inflat like vari across asia | economi | less depend oil import china |
| growth | ½ percentag point annual gdp | growth | howev given high depend extern |
| economi | extern demand manufactur export asian | economi | regardless level develop could sever |
| global | effect higher oil price result | global | slowdown even case net oil |
| also | net oil export malaysia second | also | risk greaterthanexpect spillov natur disast |
| market | disast japan slide although financi | market | indic suggest moder perceiv risk |
| need | suggest moder perceiv risk begin | need | replac least supplement nuclear power |
| global | reconstruct could pose upward pressur | global | commod price moreov prolong disrupt |
| countri | anticip baselin staff estim suggest | countri | particular expos asean due strong |
| economi | emerg asia includ number asean | economi | pressur potenti overh good asset |
| market | pressur potenti overh good asset | market | rise output gap expect close |
| economi | gap expect close mani region | economi | year headlin inflat acceler sinc |
| also | commod price degre acceler inflat | also | differ wide across region particular |
| economi | differ wide across region particular | economi | relat high weight food energi |
| also | inflat howev higher commod price | also | appear spill general increas price |
| economi | asia whole increas tend higher | economi | oper closer full capac singapor |
| also | capac singapor vietnam inflat expect | also | rise mani asean economi background |
| economi | expect also rise mani asean | economi | background expect headlin inflat rise |
| global | headlin inflat rise moder somewhat | global | food energi price inflat percent |
| economi | pressur particular lower incom asean | economi | electr generat tend reliant fossil |
| economi | mid howev signific crosscountri variat | economi | includ indonesia philippin thailand continu |
| economi | remain signific risk number region | economi | inflow close relat global financi |
| global | region economi inflow close relat | global | financi condit sovereign bank sector |
| economi | earlier start tighten cycl advanc | economi | could caus volatil capit flow |
| economi | volatil capit flow among asean | economi | volatil capit flow particular risk |
| economi | volatil capit flow particular risk | economi | larg current account deficit vietnam |
| market | high share foreign particip secur | market | includ indonesia malaysia capit flow |
| market | capit flow risk overh asset | market | general show sign intensifi region |
| economi | general show sign intensifi region | economi | littl evid equiti bond valuat |
| growth | sign overh pressur build credit | growth | acceler strong sever asean economi |
| economi | growth acceler strong sever asean | economi | includ indonesia thailand slide longerterm |
| polici | indic credit boom let turn | polici | challeng face region overal sens |
| need | challeng face region overal sens | need | tighten macroeconom polici becom press |
| polici | overal sens need tighten macroeconom | polici | becom press six month ago |
| economi | press six month ago mani | economi | alreadi began tighten process general |
| global | slow perhap reflect doubt strength | global | recoveri privat domest demand region |
| global | privat domest demand region nevertheless | global | recoveri firm suppli constraint emerg |
| economi | suppli constraint emerg asia time | economi | step pace size adjust economi |
| economi | economi step pace size adjust | economi | general overh pressur monetari tighten |
| polici | staff estim taylor rule suggest | polici | rate increas slowli past number |
| economi | increas slowli past number region | economi | particular case indonesia thailand seem |
| countri | case indonesia thailand seem indic | countri | outlook inflat growth moreov real |
| growth | seem indic countri outlook inflat | growth | moreov real polici rate sill |
| polici | outlook inflat growth moreov real | polici | rate sill negat number countri |
| countri | polici rate sill negat number | countri | includ philippin thailand sustain could |
| also | price bubbl exchang rate appreci | also | play import role avoid overh |
| economi | precrisi level mani emerg asian | economi | korea china philippin time strong |
| economi | monetari exchang rate tighten yet | economi | larg capit inflow still threaten |
| polici | inflow still threaten complic monetari | polici | tighten macroprudenti measur use complement |
| also | complement address specif financi vulner | also | room fiscal tighten region slide |
| economi | consolid differ substanti across asia | economi | indonesia singapor estim suggest fiscal |
| polici | indonesia singapor estim suggest fiscal | polici | would even add stimulus general |
| countri | potenti futur shock moreov number | countri | govern adopt antiinfl measur signific |
| also | allevi relat shortag fiscal consolid | also | warrant number lower incom asean |
| economi | warrant number lower incom asean | economi | howev case cambodia lao pdr |
| also | fiscal revenu longer term would | also | help creat fiscal space much |
| need | help creat fiscal space much | need | develop spend turn mediumterm challeng |
| growth | main challeng remain achiev balanc | growth | also make growth equit inclus |
| also | challeng remain achiev balanc growth | also | make growth equit inclus slide |
| growth | achiev balanc growth also make | growth | equit inclus slide mention earlier |
| growth | export contribut privat domest demand | growth | result project evolut current account |
| economi | asia includ nie mani asean | economi | china suggest global demand rebalanc |
| global | mani asean economi china suggest | global | demand rebalanc may slow persist |
| polici | high precautionari save implement comprehens | polici | packag includ structur reform strengthen |
| econom | region thus remain import facilit | econom | rebalanc add inconsist need tighten |
| need | facilit econom rebalanc add inconsist | need | tighten macropolici cyclic point view |
| polici | order deal overh risk fiscal | polici | strengthen social safeti net boost |
| also | offset save nonprior current spend | also | exchang rate appreci could support |
| polici | rate appreci could support countercycl | polici | tighten rebalanc toward intern demand |
| also | toward intern demand conclud would | also | like briefli updat role fund |
| global | role fund bring balanc sustain | global | recoveri strengthen intern monetari system |
| global | issu must address slide strengthen | global | adjust mechan deal imbal develop |
| global | volatil capit flow enhanc access | global | liquid provid safeti net countri |
| countri | global liquid provid safeti net | countri | reduc need selfinsur meet need |
| need | provid safeti net countri reduc | need | selfinsur meet need safe global |
| need | countri reduc need selfinsur meet | need | safe global reserv asset sinc |
| global | need selfinsur meet need safe | global | reserv asset sinc pursu continu |
| polici | one key lesson crisi strong | polici | coordin import address weak global |
| global | polici coordin import address weak | global | financi system lack clear agreement |
| global | system lack clear agreement effect | global | adjust mechan deal imbal initi |
| countri | mechan deal imbal initi g | countri | underway name mutual adjust process |
| polici | monetari system except exchang rate | polici | countri oblig conduct domest polici |
| countri | system except exchang rate polici | countri | oblig conduct domest polici way |
| polici | polici countri oblig conduct domest | polici | way consist system stabil address |
| polici | spillov report analyz intern impact | polici | adopt system import countri currenc |
| countri | impact polici adopt system import | countri | currenc area unit state euro |
| global | state euro area unit kingdom | global | financi center japan china exercis |
| countri | allow us increas focus impact | countri | polici across border allow policymak |
| polici | us increas focus impact countri | polici | across border allow policymak voic |
| countri | allow policymak voic concern impact | countri | polici spillov report also provid |
| polici | policymak voic concern impact countri | polici | spillov report also provid opportun |
| also | impact countri polici spillov report | also | provid opportun evenhand approach multilater |
| market | may analyz issu recipi emerg | market | economi also relat polici system |
| economi | analyz issu recipi emerg market | economi | also relat polici system import |
| also | issu recipi emerg market economi | also | relat polici system import advanc |
| polici | emerg market economi also relat | polici | system import advanc economi addit |
| economi | relat polici system import advanc | economi | addit enhanc multilater surveil toolkit |
| also | addit enhanc multilater surveil toolkit | also | strengthen bilater surveil increas attent |
| countri | financi stabil assess fsap regular | countri | surveil report regard capit flow |
| market | flow outset point issu emerg | market | fact largest capit flow among |
| countri | largest capit flow among advanc | countri | implic flow countri worri fund |
| countri | among advanc countri implic flow | countri | worri fund intensifi research determin |
| polici | fund intensifi research determin appropri | polici | respons capit flow discuss ongo |
| countri | flow discuss ongo provid member | countri | framework distil recent experi opportun |
| polici | broad support develop framework guid | polici | action address volatil capit flow |
| polici | capit recipi capit origin second | polici | advic manag capit flow evenhand |
| polici | flexibl import broad spectrum instrument | polici | toolkit manag inflow asid macroeconom |
| polici | toolkit manag inflow asid macroeconom | polici | structur measur socal capit flow |
| countri | work progress formul framework help | countri | better cope volatil flow regard |
| global | better cope volatil flow regard | global | safeti net sinc onset global |
| global | global safeti net sinc onset | global | financi crisi come long way |
| countri | line precautionari credit line support | countri | time liquid need howev mani |
| need | line support countri time liquid | need | howev mani countri consid need |
| countri | time liquid need howev mani | countri | consid need enhanc financi safeti |
| need | need howev mani countri consid | need | enhanc financi safeti net import |
| need | toolkit would meet shortterm liquid | need | system crise includ adopt new |
| also | deploy simultan group fund member | also | explor strengthen partnership region initi |
| market | final financi deepen proceed emerg | market | suppli global financi asset becom |
| global | deepen proceed emerg market suppli | global | financi asset becom diversifi across |
| countri | financi asset becom diversifi across | countri | expect multipolar system emerg sever |
| global | sever currenc play key role | global | time may also role sdr |
| also | key role global time may | also | role sdr contribut stabil intern |
| market | system first step ad emerg | market | currenc sdr basket could help |
| also | internation currenc long run may | also | need explor scope increas stock |
| need | currenc long run may also | need | explor scope increas stock sdrs |
| global | precautionari reserv use sdr price | global | trade denomin financi asset sdrdenomin |
| need | number technic hurdl would howev | need | address move direct includ enhanc |
| polici | move direct includ enhanc intern | polici | coordin let say studi issu |
| market | gradual choic reserv asset inevit | market | decis sum let say far |
| global | decis sum let say far | global | econom recoveri evolv broad expect |
| econom | sum let say far global | econom | recoveri evolv broad expect global |
| global | econom recoveri evolv broad expect | global | financi condit improv slide nearterm |
| growth | financi condit improv slide nearterm | growth | outlook asia remain quit favor |
| growth | tsunami japan nevertheless asia rapid | growth | emerg overh pressur call macroeconom |
| countri | capit flow appear reced mani | countri | region longer term main challeng |
| economi | longer term main challeng asian | economi | remain achiev balanc inclus pattern |
| growth | remain achiev balanc inclus pattern | growth | |
| financ | imf spring meet time year | financ | minist central bank governor account |
| global | governor account come washington discuss | global | economi year lot talk live |
| economi | account come washington discuss global | economi | year lot talk live uniqu |
| global | histori period great upheav know | global | financi crisi devast global economi |
| global | know global financi crisi devast | global | economi caus incalcul hardship suffer |
| economi | global financi crisi devast global | economi | caus incalcul hardship suffer world |
| also | caus incalcul hardship suffer world | also | devast intellectu foundat global econom |
| global | world also devast intellectu foundat | global | econom order last quarter centuri |
| econom | also devast intellectu foundat global | econom | order last quarter centuri crisi |
| economi | centuri crisi thought knew manag | economi | pretti well washington consensus number |
| polici | mantra simpl rule monetari fiscal | polici | would guarante stabil deregul privat |
| growth | stabil deregul privat would unleash | growth | prosper financi market would channel |
| market | would unleash growth prosper financi | market | would channel resourc product area |
| global | area polic effect rise tide | global | would lift boat came crash |
| global | test time make next phase | global | work rebuild three core area |
| econom | three core area new approach | econom | polici new approach social cohes |
| polici | core area new approach econom | polici | new approach social cohes new |
| econom | approach cooper multilater outlooklet begin | econom | situat global economi continu recov |
| global | multilater outlooklet begin econom situat | global | economi continu recov recoveri unbalanc |
| economi | outlooklet begin econom situat global | economi | continu recov recoveri unbalanc countri |
| countri | economi continu recov recoveri unbalanc | countri | within countri growth advanc economi |
| countri | recov recoveri unbalanc countri within | countri | growth advanc economi ground zero |
| growth | recoveri unbalanc countri within countri | growth | advanc economi ground zero financi |
| economi | countri within countri growth advanc | economi | ground zero financi crisi still |
| market | unemploy still high time emerg | market | economi especi asia latin america |
| economi | still high time emerg market | economi | especi asia latin america power |
| countri | power ahead deal overh lowincom | countri | prove remark resili hit high |
| global | inde numer black swan swim | global | econom lake great tragedi japan |
| econom | numer black swan swim global | econom | lake great tragedi japan immedi |
| countri | impress resili japanes peopl europ | countri | crossroad taken difficult step need |
| need | countri crossroad taken difficult step | need | ultim europ need comprehens solut |
| need | difficult step need ultim europ | need | comprehens solut base paneuropean solidar |
| countri | piecem far key risk crisi | countri | well overal recoveri europ middl |
| econom | seek greater freedom fairer distribut | econom | opportun resourc respond aspir requir |
| econom | requir far reach chang polit | econom | social institut drawnout process institut |
| financ | cours extra spend strain public | financ | period ahead polit instabl also |
| also | financ period ahead polit instabl | also | lower tourism fdi rais borrow |
| growth | derail effort move toward sociallyinclus | growth | model creat job absorb grow |
| econom | readi help year come overal | econom | situat still fragil uneven beset |
| polici | macroeconom policyund old paradigm monetari | polici | care inflat growth simpl crisi |
| growth | paradigm monetari polici care inflat | growth | simpl crisi great danger lurk |
| growth | behind facad low inflat strong | growth | soar asset price boom credit |
| growth | soar asset price boom credit | growth | invest bias toward hous financi |
| market | supervis look narrowli individu institut | market | without pay much attent broader |
| global | stabil key lesson local event | global | repercuss clear monetari polici must |
| polici | event global repercuss clear monetari | polici | must go beyond price stabil |
| polici | stabil mean main tool monetari | polici | polici rate must expand reach |
| polici | mean main tool monetari polici | polici | rate must expand reach luckili |
| need | ratio liquid ratio loantovalu ratio | need | learn design use tool effect |
| polici | design use tool effect fiscal | polici | old paradigm fiscal polici definit |
| polici | fiscal polici old paradigm fiscal | polici | definit neglect child polici famili |
| polici | fiscal polici definit neglect child | polici | famili role limit automat stabil |
| polici | budget deficit move cycl discretionari | polici | regard deep suspicion fiscal polici |
| polici | polici regard deep suspicion fiscal | polici | sleep beauti moment crisi monetari |
| polici | sleep beauti moment crisi monetari | polici | run steam financi system knee |
| econom | prop aggreg demand save world | econom | freefal need rethink fiscal polici |
| need | demand save world econom freefal | need | rethink fiscal polici time financi |
| polici | econom freefal need rethink fiscal | polici | time financi sector need major |
| need | fiscal polici time financi sector | need | major regulatori surgeri crisi origin |
| need | improv qualiti quantiti bank capit | need | extend regul shadow bank system |
| need | extend regul shadow bank system | need | better supervis even best rule |
| need | rule worthless without proper implement | need | better resolut mechan end scourg |
| need | includ along critic crossbord dimens | need | tax financi activ forc sector |
| market | world pendulum swing least littl | market | state relat simpl relat complex |
| global | new approach social inclusionth new | global | govern must also pay heed |
| also | inclusionth new global govern must | also | pay heed social cohes get |
| global | cohes get wrong old pattern | global | deliv lot lift hundr million |
| global | lot lift hundr million poverti | global | dark side larg grow chasm |
| global | grow chasm rich poor trade | global | associ lower inequ financi global |
| global | global associ lower inequ financi | global | big stori recent year increas |
| growth | borrow time longer term sustain | growth | associ equal incom distribut mani |
| financ | mani reason inequ hinder access | financ | make countri prone advers shock |
| countri | inequ hinder access financ make | countri | prone advers shock reduc trust |
| need | class domest demand unlik take | need | new form global fairer form |
| global | unlik take need new form | global | fairer form global global human |
| global | new form global fairer form | global | global human face benefit growth |
| global | form global fairer form global | global | human face benefit growth must |
| growth | global global human face benefit | growth | must broad share captur privileg |
| market | must broad share captur privileg | market | must stay center stage invis |
| global | cooper cannot simpli fade away | global | economi simpli interconnect allow narrow |
| economi | cannot simpli fade away global | economi | simpli interconnect allow narrow nation |
| global | requir collect solut think rebalanc | global | growth countri ran extern deficit |
| growth | collect solut think rebalanc global | growth | countri ran extern deficit must |
| countri | solut think rebalanc global growth | countri | ran extern deficit must reli |
| countri | must reli extern demand surplus | countri | must go opposit direct shift |
| global | extern domest demand mean put | global | interest first ultim nation interest |
| global | interest first ultim nation interest | global | must seen common endeavor countri |
| countri | global must seen common endeavor | countri | use currenc trade restrict shortterm |
| global | protect world multilater institut forum | global | cooper becom even import must |
| global | stay relev must adapt new | global | pleas note imf play part |
| economi | lend program includ agreement advanc | economi | could foreseen look ahead strive |
| global | better understand complex interconnect run | global | economi want strengthen abil prevent |
| economi | understand complex interconnect run global | economi | want strengthen abil prevent crise |
| polici | new spillov report look domest | polici | five key system economi affect |
| economi | domest polici five key system | economi | affect rest world made financi |
| countri | sector assess program mandatori system | countri | improv global monitor capit flow |
| global | program mandatori system countri improv | global | monitor capit flow work g |
| growth | g seek cooper path higher | growth | strengthen global financi safeti net |
| global | cooper path higher growth strengthen | global | financi safeti net protect countri |
| countri | global financi safeti net protect | countri | sudden financi revers fortun must |
| econom | fortun must legitimaci must reflect | econom | realiti st centuri recent imf |
| market | agre shift vote share emerg | market | develop countri percent top percent |
| countri | vote share emerg market develop | countri | percent top percent shift brazil |
| growth | multilater matter born world gain | growth | broad share born world state |
| market | broad share born world state | market | complement balanc task today rebuild |
| countri | go back time small number | countri | domin want turn back open |
| economi | go back principl upon postwar | economi | built borrow past reach futur |
| econom | origin mission promot cooper fight | econom | root war mani futur leader |
| need | regard extent intern monetari system | need | reform gather like one help |
| global | common understand way ahead critic | global | recoveri sustain beyond near term |
| global | monetari system enabl remark progress | global | econom financi integr foster strong |
| econom | system enabl remark progress global | econom | financi integr foster strong global |
| global | econom financi integr foster strong | global | growth live standard recent surviv |
| growth | financi integr foster strong global | growth | live standard recent surviv global |
| global | growth live standard recent surviv | global | financi crisi histor proport system |
| also | financi crisi histor proport system | also | exhibit symptom instabl mani time |
| global | left unaddress could threaten progress | global | prosper bring system support recoveri |
| growth | system support recoveri sustain stabl | growth | beyond must tri address root |
| global | see four first absenc effect | global | adjust mechan deal imbal generat |
| polici | mechan deal imbal generat bad | polici | bad luck structur differ demograph |
| global | capit flow whose size dwarf | global | output trade third access global |
| global | global output trade third access | global | liquid reliabl avail time system |
| global | reserv accumul fourth demand safe | global | asset grow much faster potenti |
| global | potenti suppli reflect part fact | global | monetari financi asset far less |
| global | far less diversifi currenc term | global | gdp contribut imbal asymmetr exposur |
| economi | imbal asymmetr exposur risk aris | economi | issu safe global asset challeng |
| global | risk aris economi issu safe | global | asset challeng must dealt signific |
| global | serious consider first promot effect | global | adjust stronger polici cooper obvious |
| polici | promot effect global adjust stronger | polici | cooper obvious answer crisi mark |
| polici | crisi mark watersh moment intern | polici | cooper sustain two import process |
| economi | spillov report five import system | economi | china euro area japan uk |
| countri | allow us increas focus impact | countri | polici across border allow policymak |
| polici | us increas focus impact countri | polici | across border allow policymak voic |
| countri | allow policymak voic concern impact | countri | polici imf surveil general matter |
| polici | policymak voic concern impact countri | polici | imf surveil general matter principl |
| global | principl key instrument promot effect | global | adjust reduc need discourag countri |
| need | promot effect global adjust reduc | need | discourag countri run polici lead |
| countri | global adjust reduc need discourag | countri | run polici lead global imbal |
| polici | reduc need discourag countri run | polici | lead global imbal practic alway |
| global | discourag countri run polici lead | global | imbal practic alway success endeavor |
| polici | name except case exchang rate | polici | countri oblig run polici way |
| countri | except case exchang rate polici | countri | oblig run polici way consist |
| polici | rate polici countri oblig run | polici | way consist system stabil hard |
| also | hard seem sensibl interdepend world | also | true mechan ensur countri act |
| countri | world also true mechan ensur | countri | act way consist system stabil |
| polici | effect even case exchang rate | polici | includ present room suggest multilater |
| also | room suggest multilater oblig strengthen | also | account fail uphold exampl polici |
| polici | also account fail uphold exampl | polici | norm sanction legitim issu rais |
| market | issu often present one emerg | market | economi worri sure realiti one |
| economi | often present one emerg market | economi | worri sure realiti one policymak |
| countri | worri sure realiti one policymak | countri | worri bulk cross border capit |
| economi | actual take place among advanc | economi | last year shown immun asset |
| economi | larg volatil capit flow cours | economi | also suffer exchang rate volatil |
| also | volatil capit flow cours economi | also | suffer exchang rate volatil generat |
| polici | capit flow system flow driven | polici | monetari prudenti capit account pursu |
| global | other henc worth ask whether | global | agre rule road might use |
| countri | use appropri circumst although cours | countri | care use substitut good macroeconom |
| polici | care use substitut good macroeconom | polici | cours inflow issu countri inflow |
| countri | macroeconom polici cours inflow issu | countri | inflow anoth outflow urgent need |
| need | countri inflow anoth outflow urgent | need | sourc recipi countri cooper bear |
| countri | outflow urgent need sourc recipi | countri | cooper bear mind countri sourc |
| countri | recipi countri cooper bear mind | countri | sourc recipi often polici tool |
| polici | mind countri sourc recipi often | polici | tool hand limit financi regul |
| polici | hand limit financi regul macroprudenti | polici | also crossbord impact run cooper |
| also | limit financi regul macroprudenti polici | also | crossbord impact run cooper mean |
| polici | cooper well mechan coordin macroeconom | polici | time stress g coordin fiscal |
| global | fund founder mind third strengthen | global | financi safeti net sinc crisi |
| financ | fund resourc base increas signific | financ | toolkit made flexibl particular ad |
| countri | line precautionari credit line mani | countri | remain convinc global financi safeti |
| global | line mani countri remain convinc | global | financi safeti net strong enough |
| financ | avenu explor strengthen partnership region | financ | arrang anoth improv system liquid |
| market | basket includ larg dynam emerg | market | promot financi deepen emerg market |
| market | market promot financi deepen emerg | market | countri fund work way area |
| countri | promot financi deepen emerg market | countri | fund work way area cast |
| market | financi deepen take hold emerg | market | suppli global financi asset becom |
| global | take hold emerg market suppli | global | financi asset becom diversifi across |
| countri | financi asset becom diversifi across | countri | expect multipolar system emerg sever |
| global | play key broad compar role | global | system would mean problemfre three |
| also | would much reduc time may | also | role sdr contribut stabl intern |
| market | system first step ad emerg | market | currenc sdr basket could help |
| global | rang idea topic includ increas | global | stock sdrs help meet demand |
| global | precautionari reserv use sdr price | global | trade denomin financi asset therebi |
| polici | would requir major leap intern | polici | coordin even area discuss earlier |
| global | hole hole get bigger bigger | global | increas left unaddress leav system |
| global | left unaddress leav system vulner | global | economi made back brink perhap |
| economi | unaddress leav system vulner global | economi | made back brink perhap could |
| need | made back brink perhap could | need | aros realli chanc want take |
| global | realli chanc want take problem | global | work well system strengthen continu |
| countri | direct includ stronger multilater commit | countri | collabor framework order cross border |
| global | border capit flow reliabl access | global | liquid crisi time broader rang |
| global | crisi time broader rang safe | global | asset mutual reinforc debat continu |
| econom | contribut inform decisionmak major area | econom | polici area import urgent today |
| polici | inform decisionmak major area econom | polici | area import urgent today strengthen |
| financ | first report present g minist | financ | central bank governor g novemb |
| economi | bilater consult discuss author g | economi | challeng resourc implic report practic |
| econom | tribut excel collabor interag group | econom | financi statist iag agenc repres |
| also | strong institut partnership intern level | also | within g economi sever agenc |
| economi | intern level also within g | economi | sever agenc involv differ strand |
| global | remark evid joint establish princip | global | indic pgi websit success bring |
| economi | success bring data seri g | economi | common platform yet awar pleas |
| countri | pleas announc yesterday pgi websit | countri | coverag expand includ five member |
| also | mutual benefici avenu cooper would | also | like give special thank colleagu |
| need | broad agreement identifi data gap | need | address hope discuss next two |
| also | issu move forward conclud let | also | reiter commit continu engag exchang |
| need | extranet site last night discov | need | electron invit sent mr andrew |
| also | excel ladi gentlemen delight today | also | honor share stage distinguish cabinet |
| econom | keen learn factor underli impress | econom | perform sustain mani year particular |
| countri | year particular botswana model resourcerich | countri | manag resourc wealth prudent sound |
| polici | resourc wealth prudent sound macroeconom | polici | good govern high rate public |
| countri | invest transform botswana one poorest | countri | world time independ upper middleincom |
| countri | world time independ upper middleincom | countri | today inde progress proud moreov |
| global | progress proud moreov although fallout | global | financi crisi hit botswana hard |
| polici | hit botswana hard rapid appropri | polici | respons govern mitig effect shock |
| economi | govern mitig effect shock broader | economi | go forward botswana prospect appear |
| global | prospect appear promis provid new | global | shock say later present today |
| global | briefli describ imf latest outlook | global | economi subsaharan africa particular discuss |
| economi | describ imf latest outlook global | economi | subsaharan africa particular discuss botswana |
| need | subsaharan africa particular discuss botswana | need | har natur resourc compar advantag |
| growth | compar advantag achiev sustain inclus | growth | medium term discuss three pillar |
| growth | pillar reform foster privat sectorl | growth | ii measur tackl high unemploy |
| global | volatil nutshel good news expect | global | recoveri proceed led emerg market |
| market | global recoveri proceed led emerg | market | good news remain multispe recoveri |
| economi | downsid risk although activ advanc | economi | moder less second half expect |
| growth | moder less second half expect | growth | remain subdu unemploy still high |
| also | bank sector risk euro area | also | contribut downsid risk addit current |
| also | higher oil price persist could | also | pose risk global recoveri contrast |
| global | persist could also pose risk | global | recoveri contrast mani emerg economi |
| economi | global recoveri contrast mani emerg | economi | activ remain buoyant howev overh |
| global | capit flow rise commod price | global | econom environ subsaharan africa experienc |
| econom | flow rise commod price global | econom | environ subsaharan africa experienc solid |
| econom | environ subsaharan africa experienc solid | econom | recoveri follow sharp drop growth |
| growth | econom recoveri follow sharp drop | growth | rate  ½ percent region |
| economi | rate  ½ percent region | economi | expand percent project grow  |
| econom | ½ percent year brief hiatus | econom | activ subsaharan african economi revert |
| economi | hiatus econom activ subsaharan african | economi | revert fair close headi level |
| econom | heterogen normal character subsaharan africa | econom | outlook region particular bipolar region |
| countri | region particular bipolar region lowincom | countri | output growth year set back |
| growth | bipolar region lowincom countri output | growth | year set back averag growth |
| growth | growth year set back averag | growth | rate regist sizabl output gap |
| countri | gap set prevail region middleincom | countri | oil metal export recent commod |
| financ | elev level generat signific extern | financ | need howev overal aggreg pictur |
| need | level generat signific extern financ | need | howev overal aggreg pictur one |
| econom | downturn pictur without blemish first | econom | slowdown progress toward poverti reduct |
| global | fall incom increas unemploy second | global | growth project materi prospect subsaharan |
| growth | incom increas unemploy second global | growth | project materi prospect subsaharan africa |
| also | materi prospect subsaharan africa would | also | circumspect cours risk posit outlook |
| also | effect howev elev food price | also | offer opportun mani subsaharan african |
| countri | offer opportun mani subsaharan african | countri | adopt polici stimul agricultur sector |
| polici | mani subsaharan african countri adopt | polici | stimul agricultur sector term polici |
| polici | polici stimul agricultur sector term | polici | respons first best polici respons |
| polici | term polici respons first best | polici | respons circumst allow pass intern |
| countri | provis food item cours mani | countri | region identifi neediest quit challeng |
| polici | tax essenti stapl food monetari | polici | accommod first round effect tighten |
| countri | pressur bear mind risk challeng | countri | subsaharan africa rebuild polici buffer |
| polici | challeng countri subsaharan africa rebuild | polici | buffer sustain reform effort general |
| growth | effort general maintain macroeconom stabil | growth | momentum seem take hold broad |
| growth | develop botswana year show trend | growth | slow last decad simpl analysi |
| growth | slow last decad simpl analysi | growth | trend botswana show contribut product |
| growth | trend botswana show contribut product | growth | overal econom growth declin sinc |
| econom | show contribut product growth overal | econom | growth declin sinc year deceler |
| growth | contribut product growth overal econom | growth | declin sinc year deceler growth |
| growth | growth declin sinc year deceler | growth | diamond extract also notabl declin |
| also | year deceler growth diamond extract | also | notabl declin contribut labor growth |
| growth | also notabl declin contribut labor | growth | develop beg question botswana transform |
| economi | beg question botswana transform structur | economi | sustain high growth employ futur |
| growth | transform structur economi sustain high | growth | employ futur inde one could |
| growth | key challeng search new engin | growth | countri longterm success back natur |
| countri | challeng search new engin growth | countri | longterm success back natur resourc |
| growth | last decad botswana larg pursu | growth | strategi base capit deepen center |
| also | botswana infrastructur gap narrow consider | also | diminish return public expenditur alreadi |
| countri | attain often poorer compar middleincom | countri | thus go forward combin leaner |
| growth | privat sector essenti increas sustain | growth | botswana privat sector cannot lead |
| polici | addit preserv macroeconom stabil govern | polici | need support privat sector activ |
| need | preserv macroeconom stabil govern polici | need | support privat sector activ regulatori |
| countri | reform would eas cost busi | countri | recent find octob nation busi |
| need | busi confeder report suggest botswana | need | improv competit facilit crossbord trade |
| also | specif circumst public sector could | also | partner privat sector publicpriv partnership |
| market | money maxim addit develop financi | market | would particular import ensur better |
| also | ensur better alloc capit would | also | expand benefit financi intermedi larg |
| market | import role develop local financi | market | meet need pension fund hedg |
| need | develop local financi market meet | need | pension fund hedg offshor invest |
| market | offer opportun creat futur forward | market | respect botswana potenti develop region |
| financ | govern corpor may rais capit | financ | growth depend upon establish benchmark |
| growth | corpor may rais capit financ | growth | depend upon establish benchmark yield |
| econom | upon establish benchmark yield curv | econom | diversif necessari anchor greater privat |
| polici | manag public resourc stabl macroeconom | polici | environ foreign direct invest confin |
| financ | govern corpor may rais capit | financ | growth could well place demand |
| growth | corpor may rais capit financ | growth | could well place demand side |
| need | well place demand side botswana | need | focus new driver export growth |
| growth | need focus new driver export | growth | global econom rebalanc greater relianc |
| global | focus new driver export growth | global | econom rebalanc greater relianc asian |
| econom | new driver export growth global | econom | rebalanc greater relianc asian economi |
| economi | econom rebalanc greater relianc asian | economi | well bric brazil russia india |
| growth | russia india china domest sourc | growth | could offer botswana opportun export |
| countri | nontradit export tourism tie bric | countri | subsaharan africa increas rapid past |
| growth | decad thus bric becom new | growth | driver countri lead second pillar |
| countri | bric becom new growth driver | countri | lead second pillar present tackl |
| countri | level unemploy major concern mani | countri | threaten polit stabil middl east |
| economi | challeng especi difficult natur resourcerich | economi | like botswana combin capit intens |
| market | workforc fulli match demand labor | market | anoth fundament challeng ensur natur |
| also | inequ poverti limit human develop | also | make countri vulner shock fewer |
| countri | limit human develop also make | countri | vulner shock fewer peopl save |
| econom | storm hit even asia remark | econom | advanc last decad lift half |
| polici | put tackl incom dispar high | polici | agenda even wealthi nation like |
| growth | clear constraint pose relat low | growth | nonmin sector employ creation highlight |
| need | nonmin sector employ creation highlight | need | move ahead reform mention foster |
| growth | reform mention foster privat sector | growth | econom diversif order enhanc product |
| econom | mention foster privat sector growth | econom | diversif order enhanc product attract |
| growth | haul effect way promot incom | growth | lower end distribut invest educ |
| economi | return public spend st centuri | economi | ultim knowledg economi return educ |
| economi | st centuri economi ultim knowledg | economi | return educ skill tremend import |
| polici | return educ skill tremend import | polici | measur direct creat better enabl |
| also | foreign direct invest fdi could | also | facilit addit employ creation foreign |
| countri | creation foreign direct invest mani | countri | subsaharan africa larg gone natur |
| econom | fdi nondiamond sector support botswana | econom | diversif strategi make new sector |
| growth | make new sector key sustain | growth | employ creation botswana may also |
| also | growth employ creation botswana may | also | need latch onto multin suppli |
| need | employ creation botswana may also | need | latch onto multin suppli chain |
| countri | local condit done mani asian | countri | particular china possibl link global |
| global | countri particular china possibl link | global | suppli chain may underexploit southern |
| growth | care design initi well faster | growth | like make signific inroad unemploy |
| market | commend effort address weak labor | market | tackl poverti articul minist financ |
| financ | market tackl poverti articul minist | financ | develop plan februari budget speech |
| market | improv skill develop establish labor | market | observatori also enhanc dissemin labor |
| also | develop establish labor market observatori | also | enhanc dissemin labor market inform |
| market | observatori also enhanc dissemin labor | market | inform includ vacanc therebi reduc |
| polici | regard poverti deliber shift govern | polici | poverti reduct poverti erad signal |
| polici | amelior impact vulner group make | polici | initi effect would import coher |
| need | turn third pillar present name | need | stronger fiscal institut strong institut |
| polici | play critic role ensur welldesign | polici | effect strong fiscal institut help |
| need | thus leav enough resourc time | need | natur resourcerich economi heavili affect |
| economi | resourc time need natur resourcerich | economi | heavili affect commod price high |
| polici | price give rise procycl fiscal | polici | associ macroeconom volatil tend advers |
| growth | volatil tend advers affect longterm | growth | yet intern experi show polici |
| polici | growth yet intern experi show | polici | choic avail smooth macroeconom volatil |
| economi | macroeconom volatil natur resourc rich | economi | fortun botswana made signific progress |
| polici | area current one key fiscal | polici | object achiev overal budget balanc |
| also | framework imf suggest greater promin | also | given nonmin fiscal balanc formul |
| polici | nonmin fiscal balanc formul fiscal | polici | decompos overal fiscal balanc mine |
| polici | nonmin balanc critic interpret fiscal | polici | develop determin macroeconom impact fiscal |
| polici | develop determin macroeconom impact fiscal | polici | unlik nonmin fiscal balanc overal |
| polici | may reliabl indic impact fiscal | polici | domest demand ii govern adjust |
| countri | ii govern adjust effort inde | countri | norway budget document fiscal polici |
| polici | countri norway budget document fiscal | polici | discuss focus main nonoil balanc |
| economi | main nonoil balanc impact domest | economi | similar cornerston chile impress fiscal |
| polici | disciplin leav room countercycl fiscal | polici | along budget balanc rule botswana |
| economi | avail resourc govern sector rest | economi | time rule tend give rise |
| also | sinc price diamond increas gdp | also | increas allow increas spend one |
| growth | complement rule cap real spend | growth | oecd countri exampl australia netherland |
| countri | cap real spend growth oecd | countri | exampl australia netherland togeth would |
| polici | togeth would reduc procycl fiscal | polici | number countri face similar issu |
| countri | reduc procycl fiscal polici number | countri | face similar issu botswana note |
| polici | perspect believ critic compon fiscal | polici | rule clear simpl possibl set |
| economi | procycl budget mani natur resourcerich | economi | also typic character shortterm horizon |
| also | budget mani natur resourcerich economi | also | typic character shortterm horizon littl |
| polici | shortterm horizon littl refer longerterm | polici | object achiev monitor longterm fiscal |
| countri | mediumterm expenditur framework mani oecd | countri | adopt mediumterm framework adopt framework |
| polici | mediumterm framework adopt framework fiscal | polici | formul budget botswana help connect |
| polici | help connect annual budget longerterm | polici | approach would need tailor botswana |
| need | budget longerterm polici approach would | need | tailor botswana public financi manag |
| also | guid mediumterm framework intern experi | also | show natur resourc revenu flow |
| also | show natur resourc revenu flow | also | creat major challeng opportun assetli |
| also | signific differ return natur resourc | also | potenti offset volatil revenu although |
| global | develop diversifi incom away commod | global | financi asset said like mani |
| countri | asset said like mani resourcerich | countri | botswana access debt financ option |
| financ | resourcerich countri botswana access debt | financ | option inde begun contract extern |
| countri | trust fund provid natur resourcerich | countri | technic assist assetli manag relat |
| polici | close would like emphas serious | polici | challeng insurmount th nation develop |
| econom | earthquak terribl suffer caus balanc | econom | financi news past year posit |
| global | news past year posit import | global | econom growth advanc much faster |
| econom | past year posit import global | econom | growth advanc much faster pace |
| growth | year posit import global econom | growth | advanc much faster pace averag |
| econom | annual expans past year world | econom | outlook forecast anticip global growth |
| global | world econom outlook forecast anticip | global | growth year almost  ½ |
| growth | econom outlook forecast anticip global | growth | year almost  ½ percent |
| global | regist last year current solid | global | growth rate obscur difficult detail |
| growth | last year current solid global | growth | rate obscur difficult detail howev |
| economi | anticip case mani year emerg | economi | grow much rapid advanc economi |
| economi | economi grow much rapid advanc | economi | neither new surpris current growth |
| growth | economi neither new surpris current | growth | rate nonetheless impli challeng group |
| economi | rate nonetheless impli challeng group | economi | advanc economi expand annual averag |
| economi | impli challeng group economi advanc | economi | expand annual averag rate  |
| growth | averag rate  ½ percent | growth | simpli strong enough reduc quick |
| growth | result great recess particular job | growth | remain sluggish advanc economi result |
| economi | job growth remain sluggish advanc | economi | result unemploy rate remain high |
| economi | remain better moder contrast emerg | economi | grow  ½ percent annual |
| economi | ½ percent annual rate cours | economi | general escap great recess without |
| economi | public debt hamper recoveri advanc | economi | result postrecess expans driven domest |
| global | driven domest demand well rebound | global | trade despit contrast growth rate |
| growth | rebound global trade despit contrast | growth | rate set economi face nearterm |
| economi | despit contrast growth rate set | economi | face nearterm longerterm challeng advanc |
| economi | face nearterm longerterm challeng advanc | economi | reduc unemploy prioriti time howev |
| countri | height creat worri mani advanc | countri | fiscal sustain fact imf analysi |
| economi | fact imf analysi indic advanc | economi | fiscal deficit averag percent gdp |
| polici | trend simpli sustain expansionari fiscal | polici | action help save global economi |
| global | fiscal polici action help save | global | economi far deeper downturn fiscal |
| economi | polici action help save global | economi | far deeper downturn fiscal fallout |
| economi | quit differ mani key emerg | economi | although fiscal sustain major nearterm |
| polici | nearterm concern general monetari budget | polici | economi still expansionari reflect earlier |
| economi | concern general monetari budget polici | economi | still expansionari reflect earlier anticrisi |
| need | earli sign overh becom visibl | need | clear nearterm fiscal monetari polici |
| polici | need clear nearterm fiscal monetari | polici | adjust focus balanc remark today |
| polici | focus balanc remark today fiscal | polici | structur fiscal challeng particular advanc |
| economi | structur fiscal challeng particular advanc | economi | also mani emerg economi also |
| also | fiscal challeng particular advanc economi | also | mani emerg economi also discuss |
| economi | advanc economi also mani emerg | economi | also discuss role fiscal polici |
| also | economi also mani emerg economi | also | discuss role fiscal polici global |
| polici | economi also discuss role fiscal | polici | global rebalanc process advanc economi |
| global | also discuss role fiscal polici | global | rebalanc process advanc economi challengesth |
| economi | polici global rebalanc process advanc | economi | challengesth immedi fiscal task among |
| countri | immedi fiscal task among advanc | countri | credibl reduc deficit debt sustain |
| economi | sustain level remain consist achiev | economi | longterm growth potenti reduc unemploy |
| growth | remain consist achiev economi longterm | growth | potenti reduc unemploy achiev fiscal |
| economi | alon small task reduct advanc | economi | cyclic adjust primari budget balanc |
| need | cyclic adjust primari budget balanc | need | bring debt ratio back precrisi |
| countri | gdp although consider variat across | countri | larg gross financ requir averag |
| financ | variat across countri larg gross | financ | requir averag percent gdp year |
| economi | mediumterm fiscal adjust plan advanc | economi | fortun one import way low |
| countri | public debt outstand particular g | countri | interest payment govern debt outstand |
| econom | higher deficit debt togeth normal | econom | growth sooner later lead higher |
| growth | deficit debt togeth normal econom | growth | sooner later lead higher interest |
| economi | rang debt servic cost g | economi | could increas around  ½ |
| growth | medium term could reduc potenti | growth | advanc economi much  ½ |
| economi | could reduc potenti growth advanc | economi | much  ½ percentag point |
| growth | ratio lead slowdown real gdp | growth | around percentag point per year |
| also | year most advers effect invest | also | lower product growth clear take |
| growth | effect invest also lower product | growth | clear take quit time advanc |
| countri | clear take quit time advanc | countri | restor debt ratio prudent level |
| market | high recent experi demonstr financi | market | slow react polici slippag react |
| polici | demonstr financi market slow react | polici | slippag react decis even excess |
| economi | decis even excess mani advanc | economi | particular europ act year reduc |
| polici | reduc fiscal deficit key fiscal | polici | task euro area implement alreadypromulg |
| countri | comprehens paneuropean approach support member | countri | market pressur excess debt deficit |
| market | paneuropean approach support member countri | market | pressur excess debt deficit case |
| economi | control cours two largest advanc | economi | unit state japan defer consolid |
| econom | fiscal year respons weaker expect | econom | data includ disappoint employ growth |
| growth | econom data includ disappoint employ | growth | announc new packag stimulus measur |
| market | nearterm action help convinc financi | market | particip other unit state author |
| polici | author serious intent second sort | polici | anchor perhap mediumterm target debtgdp |
| need | tragic recent event inevit creat | need | supplementari budget like includ shortterm |
| financ | provid disast relief well help | financ | reconstruct spend nonetheless japanes author |
| market | japanes author expect eventu stabil | market | expect provid guidanc regard credibl |
| economi | expenditur reform seem like advanc | economi | fiscal adjust includ measur reduc |
| countri | spend ratio alreadi relat high | countri | given size requir fiscal adjust |
| countri | size requir fiscal adjust mani | countri | revenu measur also like form |
| also | adjust mani countri revenu measur | also | like form part solut especi |
| countri | like form part solut especi | countri | larg adjust need without doubt |
| need | solut especi countri larg adjust | need | without doubt innov think order |
| countri | revenu although signific variat across | countri | analysi carri imf fiscal affair |
| polici | tax vat like mani fiscal | polici | expert fund staff also suggest |
| also | fiscal polici expert fund staff | also | suggest vat consid potenti innov |
| economi | rule rate would appropri advanc | economi | time would import review increas |
| econom | tax reduct specifi activ equival | econom | effect regard deficit direct govern |
| economi | much percent gdp sever largest | economi | also improv effici fair tax |
| also | percent gdp sever largest economi | also | improv effici fair tax system |
| also | disloc phase time action could | also | use rein special incent corpor |
| market | desir distort intend correct specif | market | imperfect credibl advanc economi fiscal |
| economi | specif market imperfect credibl advanc | economi | fiscal consolid strategi must deal |
| economi | project imf staff show advanc | economi | public spend health care alon |
| also | area includ effect spend control | also | bottomup reform improv effici health |
| countri | pension spend somewhat better shape | countri | other countri still face longterm |
| countri | somewhat better shape countri other | countri | still face longterm solvenc challeng |
| economi | challeng public pension spend advanc | economi | project increas averag percent gdp |
| economi | gdp increas exceed percent quarter | economi | instanc howev forecast may base |
| growth | optimist assumpt includ regard product | growth | anoth key point good institut |
| need | anoth key point good institut | need | underpin good polici fiscal area |
| polici | good institut need underpin good | polici | fiscal area institut independ fiscal |
| polici | success fiscal transpar remain princip | polici | goal unfortun alreadi victim crisi |
| countri | goal unfortun alreadi victim crisi | countri | resort account trick artifici boost |
| countri | allevi cost jobless make sens | countri | within context overal adjust strategi |
| market | target vulner group activ labor | market | polici focus train educ fiscal |
| polici | vulner group activ labor market | polici | focus train educ fiscal adjust |
| market | distribut equit across societi emerg | market | challengesi turn emerg economi fiscal |
| economi | emerg market challengesi turn emerg | economi | fiscal situat may appear less |
| economi | appear less worri fiscal deficit | economi | fell last year averag percent |
| also | gdp declin year debt ratio | also | much lower advanc economi around |
| economi | ratio also much lower advanc | economi | around percent gdp fiscal hous |
| need | price especi asia fiscal buffer | need | rebuilt protect sudden revers capit |
| need | tighter fiscal stanc current envisag | need | near term mani emerg economi |
| economi | need near term mani emerg | economi | under fiscal balanc improv much |
| countri | vari increas govern spend like | countri | need reform order help boost |
| need | increas govern spend like countri | need | reform order help boost consumpt |
| need | order help boost consumpt other | need | greater invest infrastructur especi asia |
| countri | invest infrastructur especi asia mani | countri | plan increas health care spend |
| economi | rais access coverag mani emerg | economi | also intend improv social safeti |
| also | access coverag mani emerg economi | also | intend improv social safeti net |
| market | longterm fiscal sustain mani emerg | market | countri need manag requir increas |
| countri | fiscal sustain mani emerg market | countri | need manag requir increas size |
| need | sustain mani emerg market countri | need | manag requir increas size govern |
| global | skill combin expenditur tax reform | global | rebalancingmani measur discuss advanc emerg |
| economi | rebalancingmani measur discuss advanc emerg | economi | also would help reduc global |
| also | measur discuss advanc emerg economi | also | would help reduc global imbal |
| global | economi also would help reduc | global | imbal rise expect continu rise |
| growth | expect continu rise medium term | growth | economi larg extern deficit like |
| economi | continu rise medium term growth | economi | larg extern deficit like unit |
| growth | state still driven domest demand | growth | economi larg extern surplus still |
| economi | still driven domest demand growth | economi | larg extern surplus still reliant |
| economi | expect decreas margin mani asian | economi | us current account deficit expect |
| global | deficit expect fall next year | global | imbal could widen put sustain |
| countri | fiscal adjust undertaken plan deficit | countri | help moder imbal although impact |
| need | imbal although impact somewhat offset | need | rebuild fiscal buffer surplus emerg |
| economi | rebuild fiscal buffer surplus emerg | economi | medium long run howev mani |
| market | save reduc extern deficit emerg | market | economi develop social safeti net |
| economi | reduc extern deficit emerg market | economi | develop social safeti net particular |
| polici | excess precautionari save addit elimin | polici | distort exchang rate market would |
| market | elimin polici distort exchang rate | market | would contribut intern rebalanc sourc |
| growth | would contribut intern rebalanc sourc | growth | wealth incom effect appreci currenc |
| countri | currenc boost domest consumpt surplus | countri | well known wide accept conclusionin |
| countri | sum doubt given evolut recoveri | countri | grappl increasinglycomplex increasinglydivers challeng certain |
| polici | increasinglydivers challeng certain true fiscal | polici | move toward futur strong sustain |
| growth | toward futur strong sustain balanc | growth | fiscal challeng need address urgent |
| need | sustain balanc growth fiscal challeng | need | address urgent time action thank |
| market | work agenda financi stabil capit | market | issu thank josà © vià |
| market | sector well function debt capit | market | therefor becom crucial focus today |
| market | focus today discuss wide use | market | particip academ alik multipl dimens |
| countri | base crossbord linkag financi asset | countri | would warrant roundtabl come help |
| polici | multifacet natur sovereign risk set | polici | oper challeng stem one thing |
| polici | defin becom one key prioriti | polici | maker aftermath crisi left unattend |
| economi | unattend concern sovereign risk advanc | economi | undermin econom recoveri jeopard global |
| econom | sovereign risk advanc economi undermin | econom | recoveri jeopard global financi stabil |
| global | economi undermin econom recoveri jeopard | global | financi stabil high level debt |
| market | vulner financi system implic price | market | assess sovereign risk recent wit |
| market | downgrad increas volatil sovereign debt | market | question govern debt risk free |
| economi | initi risk premia increas substanti | economi | hit crisi recent spread widen |
| economi | crisi recent spread widen matur | economi | under fiscal vulner sovereign risk |
| market | channel transmiss among weaker matur | market | sovereign reveal sovereign credit risk |
| countri | sovereign credit risk concern spread | countri | perceiv afflict similar fiscal vulner |
| market | rais sovereign fund cost induc | market | volatil shortterm financ strain let |
| financ | cost induc market volatil shortterm | financ | strain let turn three topic |
| polici | linkag sovereign risk bank sector | polici | maker deal linkag critic import |
| economi | upon spillov report five system | economi | china euro area japan unit |
| polici | unit state report assess impact | polici | economi rest world explor power |
| economi | state report assess impact polici | economi | rest world explor power interlinkag |
| economi | link main channel shock major | economi | could transmit around world sever |
| polici | sever question aris regard type | polici | respons requir mitig spillov bank |
| polici | balanc sheet vice versa role | polici | aim promot econom recoveri advanc |
| econom | versa role polici aim promot | econom | recoveri advanc economi play financi |
| economi | aim promot econom recoveri advanc | economi | play financi stabil emerg market |
| market | economi play financi stabil emerg | market | polici need restor market disciplin |
| polici | play financi stabil emerg market | polici | need restor market disciplin corpor |
| need | financi stabil emerg market polici | need | restor market disciplin corpor govern |
| market | emerg market polici need restor | market | disciplin corpor govern would condit |
| polici | respons across world highlight benefit | polici | coordin nation intern end march |
| need | said late believ comprehens approach | need | resolv issu face eurozon reassur |
| market | resolv issu face eurozon reassur | market | critic preserv recoveri contain volatil |
| market | recoveri contain volatil sovereign debt | market | ever time sound sovereign balanc |
| need | sovereign balanc sheet manag practic | need | poor compos structur debt profil |
| global | risk rais sovereign risk latest | global | financi stabil report publish fund |
| market | manag debt exacerb strain observ | market | ampl question debt issuer posit |
| financ | suffici insur face anoth larg | financ | shock environ grow inflationari concern |
| market | medium term sovereign abl access | market | term compar recent past d |
| market | allow vulner grow reflect fastmov | market | develop inabl regul supervisor keep |
| market | led believ deregul best financi | market | could polic effect often less |
| need | often less attent crisi highlight | need | financi regulatori reform basel iii |
| also | major financi stabil benefit may | also | short term contractionari effect bank |
| market | discuss debt manag matur emerg | market | economi question remain point view |
| economi | debt manag matur emerg market | economi | question remain point view sovereign |
| market | financi regulatori reform affect role | market | maker public debt would impact |
| market | sovereign debt liquid secondari debt | market | would macroeconom impact differ tighter |
| econom | recent crisi bolster prospect effect | econom | polici cooper origin new effort |
| polici | crisi bolster prospect effect econom | polici | cooper origin new effort deriv |
| econom | unpreced risk financi meltdown deep | econom | downturn recal face widespread skeptic |
| global | forc effect measur observ expect | global | growth resum second half import |
| growth | effect measur observ expect global | growth | resum second half import g |
| polici | resum second half import g | polici | cooper coher forestal downturn set |
| polici | underpin g effort adopt process | polici | cooper demand sustain global expans |
| global | process polici cooper demand sustain | global | expans postcrisi period global recoveri |
| global | sustain global expans postcrisi period | global | recoveri approach second year howev |
| polici | mani observ maintain momentum intern | polici | cooper alreadi wane tradit primaci |
| polici | exemplifi g leader process cours | polici | cooper postcrisi context multispe global |
| global | polici cooper postcrisi context multispe | global | expans inevit go complex perceiv |
| economi | repres second phase crisi individu | economi | face differ circumst prioriti respond |
| polici | prioriti respond quit natur heterogen | polici | set surpris frustrat express regard |
| polici | surpris frustrat express regard whether | polici | measur implement key author appropri |
| global | implement key author appropri view | global | context nonetheless manag director emphas |
| global | manag director emphas remark morn | global | polici cooper remain critic creat |
| polici | director emphas remark morn global | polici | cooper remain critic creat confid |
| polici | view increas voic prospect postcrisi | polici | cooper fact g process focus |
| global | year initi five key area | global | rebalanc crossbord capit flow global |
| global | global rebalanc crossbord capit flow | global | financi safeti net futur role |
| polici | mechan establish coordin monitor macroeconom | polici | titl mutual assess process map |
| polici | creat g conduct g concern | polici | g economi associ econom financi |
| economi | conduct g concern polici g | economi | associ econom financi polici focus |
| econom | concern polici g economi associ | econom | financi polici focus g leader |
| polici | g economi associ econom financi | polici | focus g leader defin princip |
| polici | g member share imf staff | polici | plan econom project next three |
| econom | share imf staff polici plan | econom | project next three five year |
| econom | forecast collect consist g princip | econom | goal strong sustain balanc growth |
| growth | econom goal strong sustain balanc | growth | howev back equal ambiti detail |
| polici | howev back equal ambiti detail | polici | plan particular provid suffici fiscal |
| need | author recogn addit effort would | need | achiev share object assist imf |
| polici | pursu altern upsid scenario coher | polici | action across g would produc |
| global | better outcom includ signific stride | global | rebalanc seoul summit g leader |
| need | map would emphas broad outlin | need | polici adjust side well accept |
| polici | would emphas broad outlin need | polici | adjust side well accept well |
| economi | leader provid independ assess g | economi | fiscal monetari exchang rate structur |
| polici | fiscal monetari exchang rate structur | polici | support effort interest deepen fund |
| polici | carri innov spillov analys regard | polici | five system critic economi cours |
| economi | regard polici five system critic | economi | cours would unrealist expect much |
| econom | crisi provid sober demonstr degre | econom | financi interconnected risk incoher inconsist |
| polici | financi interconnected risk incoher inconsist | polici | result incent meaning particip map |
| economi | map clear success everi g | economi | stand benefit failur would heighten |
| polici | capit flowsturn next item g | polici | agenda intend address clear combin |
| econom | imbal prospect sustain diverg trend | econom | growth rate virtual guarante crossbord |
| growth | prospect sustain diverg trend econom | growth | rate virtual guarante crossbord capit |
| economi | previous recordhigh capit flow emerg | economi | flow sinc restart moreov secur |
| economi | moreov secur trade among advanc | economi | financi institut creat one key |
| economi | flow wide accept thus advanc | economi | take lead address regulatori supervisori |
| market | lead address regulatori supervisori area | market | weak expos crisi broad benefici |
| market | broad benefici impact wellfunct capit | market | also accept emerg economi howev |
| also | benefici impact wellfunct capit market | also | accept emerg economi howev sudden |
| economi | capit market also accept emerg | economi | howev sudden surg capit inflow |
| also | howev sudden surg capit inflow | also | wide view complic macroeconom manag |
| econom | manag potenti pose risk financi | econom | stabil time polici maker emerg |
| polici | risk financi econom stabil time | polici | maker emerg economi wrestl question |
| economi | stabil time polici maker emerg | economi | wrestl question whether respond capit |
| polici | depend specif circumst fund recommend | polici | answer allow exchang rate adjust |
| polici | allow exchang rate adjust monetari | polici | eas andor fiscal polici tighten |
| polici | monetari polici eas andor fiscal | polici | tighten prudenti financi market polici |
| market | fiscal polici tighten prudenti financi | market | polici also may form part |
| polici | polici tighten prudenti financi market | polici | also may form part recommend |
| also | tighten prudenti financi market polici | also | may form part recommend polici |
| polici | also may form part recommend | polici | respons fundament polici option alreadi |
| polici | part recommend polici respons fundament | polici | option alreadi implement capit flow |
| polici | flow manag measur consid part | polici | toolkit particular general assum use |
| econom | casebycas basi appropri circumst specif | econom | financi impact capit flow surg |
| polici | potenti undermin credibl multilater approach | polici | issu prolifer capit control could |
| countri | necessari extern adjust divert capit | countri | may posit absorb effect surpris |
| economi | current circumst capit flow emerg | economi | restart exhibit signific structur shift |
| global | session afternoon capit account manag | global | financi safeti netsth third item |
| econom | idea well understood time intern | econom | financi stress liquid tend seek |
| market | seek safe haven process render | market | illiquid undermin stabil threaten global |
| global | market illiquid undermin stabil threaten | global | growth well design oper financi |
| growth | illiquid undermin stabil threaten global | growth | well design oper financi safeti |
| also | financi resourc fund dispos member | also | endors import innov imf lend |
| financ | lend framework includ creation new | financ | instrument flexibl credit line fcl |
| financ | credit line fcl provid conting | financ | economi strong macroeconom fundament excel |
| economi | line fcl provid conting financ | economi | strong macroeconom fundament excel polici |
| polici | economi strong macroeconom fundament excel | polici | framework word fcl insurancelik instrument |
| countri | precautionari credit line pcl ad | countri | moder vulner final member recent |
| global | base despit progress gap remain | global | financi safeti net instanc global |
| global | global financi safeti net instanc | global | crisi demonstr financi market breakdown |
| market | instanc global crisi demonstr financi | market | breakdown lead temporari liquid constraint |
| countri | lead temporari liquid constraint even | countri | strong fundament appropri polici thus |
| polici | even countri strong fundament appropri | polici | thus mani case liquid need |
| need | polici thus mani case liquid | need | met adhoc reactiv basi grant |
| global | creat stand basi imbed possibl | global | stabil mechan would activ time |
| financ | synergi region arrang respect surveil | financ | possibl explor g part agenda |
| market | asset whether instead result combin | market | outcom bilater polici choic well |
| polici | result combin market outcom bilater | polici | choic well known proport dollar |
| global | choic well known proport dollar | global | foreign currenc reserv least part |
| market | satisfi precautionari demand reserv emerg | market | other sdrs could play substanti |
| countri | role ensur wellfunct safeti net | countri | cope chang concept intern liquid |
| polici | role futur conclud remarkssum agenda | polici | cooper becom complex second phase |
| need | second phase crisi shouldn forget | need | polici coher consist underscor dramat |
| polici | phase crisi shouldn forget need | polici | coher consist underscor dramat fashion |
| polici | crisi first phase cours percept | polici | cooper critic surviv phase crisi |
| also | cooper critic surviv phase crisi | also | motiv creation g leader process |
| need | new possibl exist effect action | need | addit clear idea guid action |
| econom | new insight key question face | econom | profess today last year crisi |
| global | profess today last year crisi | global | economi also crisi economist great |
| economi | today last year crisi global | economi | also crisi economist great moder |
| also | last year crisi global economi | also | crisi economist great moder led |
| polici | profound question precrisi consensus macroeconom | polici | second crisi highlight tremend benefit |
| polici | away macroeconom policieslet begin monetari | polici | precrisi consensus held keep inflat |
| econom | stabl best way secur optim | econom | perform came crisi breath new |
| polici | variabl enter primari target monetari | polici | thank policymak instrument dispos call |
| polici | vulner much direct tradit macroeconom | polici | tool problem combin use monetari |
| polici | incent take leverag risk macroprudenti | polici | manag central bank best maintain |
| also | best maintain central bank independ | also | ensur account import area look |
| polici | help find answer turn fiscal | polici | fair say decad preced crisi |
| polici | come play second fiddl monetari | polici | macroeconom stabil tool crisi put |
| polici | tool crisi put countercycl fiscal | polici | back center stage polici rate |
| polici | fiscal polici back center stage | polici | rate approach zero clear monetari |
| polici | rate approach zero clear monetari | polici | reach limit effect proud say |
| global | pivot role earli call sizeabl | global | fiscal stimulus face new kind |
| economi | kind problem public debt advanc | economi | forecast approach percent gdp averag |
| countri | rough percentag point sinc mani | countri | face major consolid challeng fast |
| need | right balanc fiscal adjust absolut | need | medium term growth mani european |
| growth | adjust absolut need medium term | growth | mani european countri would debat |
| countri | medium term growth mani european | countri | would debat strong live growth |
| growth | countri would debat strong live | growth | percent consolid take place right |
| market | day focus sound individu institut | market | correct market failur stem asymmetr |
| market | sound individu institut market correct | market | failur stem asymmetr inform limit |
| market | consid improp interfer function credit | market | crisi taught us financi regul |
| need | fund work hard understand better | need | help relat role regul supervis |
| also | supervis question right balanc two | also | need ensur financi sector put |
| need | question right balanc two also | need | ensur financi sector put back |
| economi | sector put back servic real | economi | question follow immedi right size |
| polici | right size financi sector intern | polici | cooperationth second issu d like |
| polici | issu d like address intern | polici | cooper crisi intern polici cooper |
| polici | intern polici cooper crisi intern | polici | cooper fair easi countri face |
| countri | intern polici cooper fair easi | countri | face relat similar situat clear |
| econom | g mutual assess process facilit | econom | polici cooper global level one |
| polici | mutual assess process facilit econom | polici | cooper global level one import |
| global | process facilit econom polici cooper | global | level one import exampl also |
| also | global level one import exampl | also | need stronger nimbl imf member |
| need | level one import exampl also | need | stronger nimbl imf member deliv |
| global | lend instrument support effort strengthen | global | financi safeti net sum heat |
| countri | small current phase much complex | countri | recov crisi differ speed countri |
| countri | countri recov crisi differ speed | countri | face differ econom situat also |
| econom | differ speed countri face differ | econom | situat also leader natur want |
| also | countri face differ econom situat | also | leader natur want go back |
| global | problem home though forget today | global | world domest solut global problem |
| global | today global world domest solut | global | problem made intern coordin challeng |
| global | coordin might help achiev better | global | outcom first situat polici chang |
| polici | better global outcom first situat | polici | chang countri would advanc global |
| countri | outcom first situat polici chang | countri | would advanc global interest also |
| global | polici chang countri would advanc | global | interest also countri selfinterest may |
| also | countri would advanc global interest | also | countri selfinterest may seem easi |
| countri | would advanc global interest also | countri | selfinterest may seem easi may |
| countri | resist move compet interest within | countri | trade liber good exampl group |
| countri | clear liber would best interest | countri | whole global economi situat intern |
| global | would best interest countri whole | global | economi situat intern cooper could |
| economi | best interest countri whole global | economi | situat intern cooper could help |
| countri | situat act unilater could make | countri | better would ultim make everybodi |
| countri | would ultim make everybodi wors | countri | react polici chang first competit |
| polici | make everybodi wors countri react | polici | chang first competit devalu one |
| countri | devalu may deliv shortterm gain | countri | move first countri end simpli |
| countri | shortterm gain countri move first | countri | end simpli lead spiral inflat |
| countri | relat competit similar problem aris | countri | undertak competit weaken financi environment |
| countri | attract foreign investor may race | countri | follow end weaker domest standard |
| global | situat intern mechan bind peopl | global | better polici choic need achiev |
| polici | mechan bind peopl global better | polici | choic need achiev outcom leav |
| need | peopl global better polici choic | need | achiev outcom leav everyon better |
| polici | theori well develop third situat | polici | chang particular countri would make |
| countri | third situat polici chang particular | countri | would make wors global economi |
| global | particular countri would make wors | global | economi better perhap complic one |
| economi | countri would make wors global | economi | better perhap complic one let |
| countri | financi regul transpar would benefit | countri | strengthen financi stabil smaller offshor |
| economi | busi island right push diversifi | economi | away tourism creat financi platform |
| countri | reform might destroy busi develop | countri | may appreci longterm global gain |
| global | develop countri may appreci longterm | global | gain adopt clean technolog may |
| global | side payment penalti effect reach | global | superior outcom case offshor financi |
| countri | environment exampl financi support develop | countri | could encourag adopt cleaner technolog |
| countri | practic solut overcom obstacl coordin | countri | make lot sens perspect clear |
| need | outcom make everyon better clear | need | stronger theoret approach someth feel |
| economi | avoid becom complac belief world | economi | work must also remain ever |
| also | belief world economi work must | also | remain ever vigil emerg new |
| global | believ would true forev second | global | economi becom ever interconnect role |
| economi | would true forev second global | economi | becom ever interconnect role intern |
| polici | becom ever interconnect role intern | polici | cooper prevent crise general reach |
| global | cooper prevent crise general reach | global | better outcom continu grow organ |
| countri | lesson much heart support member | countri | meet challeng postcrisi period look |
| polici | partner find practic solut today | polici | challeng wish fruit exchang idea |
| economi | confer theme confer challeng emerg | economi | central bank postcrisi period couldn |
| economi | let say word sri lankan | economi | coupl year ago sri lanka |
| econom | ago sri lanka face difficult | econom | situat part due effect global |
| global | econom situat part due effect | global | econom financi crisi imf pleas |
| econom | situat part due effect global | econom | financi crisi imf pleas abl |
| economi | support strong recoveri sri lankan | economi | much success due leadership govern |
| also | success due leadership govern recoveri | also | help end long period civil |
| econom | offer best wish continu success | econom | polici help set stage today |
| polici | best wish continu success econom | polici | help set stage today discuss |
| market | substanti capit flow mani emerg | market | risk overh economi need reorient |
| economi | mani emerg market risk overh | economi | need reorient export toward domest |
| need | emerg market risk overh economi | need | reorient export toward domest demand |
| global | export toward domest demand part | global | rebalanc world economi face develop |
| economi | demand part global rebalanc world | economi | face develop cours import implic |
| polici | imf work support multilater approach | polici | let start observ global economi |
| global | approach polici let start observ | global | economi grew solid percent expect |
| economi | polici let start observ global | economi | grew solid percent expect continu |
| countri | percent overal substanti variat across | countri | left tabl chart multispe recoveri |
| economi | multispe recoveri expect see advanc | economi | grow given depth recess must |
| economi | unit state expect activ advanc | economi | weigh high unemploy rate weak |
| market | high unemploy rate weak hous | market | financi system still neither will |
| market | induc fiscal auster measur emerg | market | contrast suffer problem acut instead |
| also | challeng still posit outlook earlier | also | benefit rebuild inventori emerg market |
| market | also benefit rebuild inventori emerg | market | expect grow healthi rate  |
| also | part driven strong capit inflow | also | worth note first time global |
| global | also worth note first time | global | recoveri led asia develop asia |
| growth | led asia develop asia see | growth | remain high  ½ percent |
| global | percent region contribut lion share | global | growth next year right chart |
| growth | region contribut lion share global | growth | next year right chart ongo |
| economi | ongo albeit subdu recoveri advanc | economi | support growth asia export asia |
| growth | subdu recoveri advanc economi support | growth | asia export asia domest demand |
| also | asia export asia domest demand | also | remain robust tight capac util |
| market | credit fuel invest strong labor | market | high equiti valuat support consum |
| growth | consum incom confid correspond differ | growth | circumst monetari polici requir also |
| polici | correspond differ growth circumst monetari | polici | requir also differ across globe |
| also | growth circumst monetari polici requir | also | differ across globe econom activ |
| econom | requir also differ across globe | econom | activ sluggish like remain advanc |
| economi | activ sluggish like remain advanc | economi | littl surpris market continu expect |
| market | remain advanc economi littl surpris | market | continu expect polici rate countri |
| polici | littl surpris market continu expect | polici | rate countri remain low extend |
| countri | market continu expect polici rate | countri | remain low extend time left |
| market | phase quantit eas qe emerg | market | howev expect close output gap |
| growth | emerg suppli constraint result rapid | growth | right chart although sever countri |
| countri | growth right chart although sever | countri | start take step normal monetari |
| polici | start take step normal monetari | polici | stanc remain general accommod real |
| polici | stanc remain general accommod real | polici | rate still negat far histor |
| economi | far histor averag mani region | economi | center chart thus seem appropri |
| market | risk around baselin outlook financi | market | turbul reced recent week under |
| economi | week under stress peripher euroarea | economi | remain unresolv market anticip european |
| market | peripher euroarea economi remain unresolv | market | anticip european policymak signific strengthen |
| market | risk turbul advanc sovereign debt | market | could trigger unsuccess debt rollov |
| market | event could creat renew financi | market | disloc interrupt transit toward stronger |
| market | possibl renew weak key properti | market | includ unit state right chart |
| polici | chart baselin project assum current | polici | action manag keep financi turmoil |
| global | euro area result modest drag | global | recoveri view reflect limit financi |
| market | spillov observ far across financi | market | region well fact polici respons |
| polici | financi market region well fact | polici | respons follow greek crisi help |
| global | greek crisi help limit impact | global | recoveri second half exampl reaction |
| global | recoveri second half exampl reaction | global | debt equiti market irish crisi |
| market | exampl reaction global debt equiti | market | irish crisi contain risk emerg |
| economi | irish crisi contain risk emerg | economi | differ face downsid risk growth |
| growth | economi differ face downsid risk | growth | instanc financi turbul advanc economi |
| economi | growth instanc financi turbul advanc | economi | could spill real economi thus |
| economi | advanc economi could spill real | economi | thus depress trade princip concern |
| global | rose consider part respons strong | global | demand also suppli shock select |
| also | part respons strong global demand | also | suppli shock select commod weatherrel |
| economi | uptick consum price inflat emerg | economi | attribut part rise food price |
| economi | overal price inflat number emerg | economi | right chart certain true sri |
| also | general across region core inflat | also | begun rise although degre acceler |
| growth | pressur broaden moreov real wage | growth | also pick number asian economi |
| also | broaden moreov real wage growth | also | pick number asian economi back |
| economi | growth also pick number asian | economi | back relat low fall unemploy |
| growth | consum price wage howev credit | growth | slow signific global financi crisi |
| global | howev credit growth slow signific | global | financi crisi turn corner run |
| market | base upward price pressur stock | market | lessen somewhat recent month part |
| market | somewhat recent month part reflect | market | anticip tighten moder capit flow |
| market | tighten moder capit flow emerg | market | pressur emerg properti market economi |
| market | emerg market pressur emerg properti | market | economi east asia right chart |
| economi | market pressur emerg properti market | economi | east asia right chart risk |
| market | rule look specif segment nation | market | high price market singapor hong |
| market | segment nation market high price | market | singapor hong kong citi china |
| growth | nation level properti price moder | growth | seem signific fundament economi part |
| economi | moder growth seem signific fundament | economi | part reflect measur introduc rang |
| market | taxat transact sri lanka properti | market | remain subdu given favor growth |
| growth | market remain subdu given favor | growth | sovereign debt dynam comparison advanc |
| economi | sovereign debt dynam comparison advanc | economi | mention interest rate differenti asia |
| global | particular volatil portfolio flow sinc | global | financi crisi trend expect continu |
| market | emerg asia modest size capit | market | although explain clear sign bubbl |
| polici | cannot rule moreov manag exit | polici | stimulus might complic persist sustain |
| polici | correspond high domest currenc liquid | polici | rate hike may direct translat |
| economi | direct translat increas interest rate | economi | right chart sri lanka one |
| countri | right chart sri lanka one | countri | face surg capit flow start |
| global | conflict approv imf program return | global | investor appetit capit flow along |
| countri | region grappl manag issu far | countri | reli combin currenc appreci reserv |
| countri | chart mask signific variat respons | countri | one hand india abstain intervent |
| countri | brunt adjust hand intervent rapid | countri | mention sri lanka alreadi discuss |
| growth | policymak particular effect control money | growth | respons reserv accumul evidenc relat |
| growth | relat low sensit money suppli | growth | buildup central bank foreign asset |
| global | undermin effort tighten monetari stanc | global | interest rate like remain low |
| countri | interest rate like remain low | countri | tight manag exchang rate effect |
| global | exchang rate effect import easi | global | monetari condit unless tighten capit |
| polici | tighten capit control tighter fiscal | polici | could also achiev may alway |
| also | control tighter fiscal polici could | also | achiev may alway feasibl steril |
| polici | achiev may alway feasibl steril | polici | region appear work far mention |
| market | size depth domest fix incom | market | support signific expans steril oper |
| also | possibl extend toolkit macroprudenti measur | also | help mitig consequ sizabl potenti |
| economi | advic effect area sever asian | economi | alreadi implement measur safeguard financi |
| polici | rather size longerterm perspect key | polici | question improv local market absorpt |
| market | key polici question improv local | market | absorpt deal persist capit inflow |
| also | larg capit inflow asia challeng | also | present opportun facilit mediumterm rebalanc |
| financ | capit inflow appropri channel toward | financ | broaderbas growth two key thing |
| growth | appropri channel toward financ broaderbas | growth | two key thing need first |
| need | broaderbas growth two key thing | need | first make longterm invest asia |
| need | malaysia promot privatepubl partnership much | need | infrastructur invest second promot financi |
| market | infrastructur invest second promot financi | market | develop access financ includ smaller |
| financ | promot financi market develop access | financ | includ smaller serviceori firm remain |
| economi | flow consid shift go world | economi | implic monetari macroeconom policymak first |
| global | first mention earlier asia drive | global | recoveri temporari phenomenon asia share |
| economi | shift extern demand impli asian | economi | expos downsid risk advanc economi |
| economi | economi expos downsid risk advanc | economi | slowdown describ fundament impli asia |
| economi | asia fortun tie develop currentaccountdeficit | economi | freespend western consum provid demand |
| global | provid demand export worldwid chasten | global | crisi employ prospect insecur suffer |
| countri | account surplus elsewher right chart | countri | need increas save other need |
| need | surplus elsewher right chart countri | need | increas save other need reduc |
| need | countri need increas save other | need | reduc name current account surplus |
| countri | reduc name current account surplus | countri | includ mani asia domest demand |
| need | mani asia domest demand asia | need | step new engin global growth |
| global | asia need step new engin | global | growth certain polici help boost |
| growth | need step new engin global | growth | certain polici help boost asian |
| polici | new engin global growth certain | polici | help boost asian domest demand |
| market | govern direct measur develop financi | market | help boost consumpt invest cours |
| also | help boost consumpt invest cours | also | role exchang rate flexibl issu |
| global | made toward reduc extern imbal | global | financi crisi current account balanc |
| economi | surplus expect decreas nie asean | economi | margin us current account deficit |
| global | current level next year surpris | global | imbal expect remain even worsen |
| countri | rebalanc mean differ thing differ | countri | domest demand asia whole sure |
| need | domest demand asia whole sure | need | rise driven china won necessarili |
| countri | driven china won necessarili happen | countri | region instanc consumpt general weak |
| countri | would clear impli increas consumpt | countri | mani asian economi includ sri |
| economi | increas consumpt countri mani asian | economi | includ sri lanka alreadi consum |
| market | consum enough relat oecd emerg | market | benchmark left chart asia high |
| also | high current account surplus may | also | result invest slump howev investmenttogdp |
| countri | domest demand key prioriti restor | countri | share world export declin steadili |
| economi | us europ toward fastgrow asian | economi | enhanc export diversif sophist take |
| economi | current strong recoveri sri lankan | economi | make countri wellplac meet challeng |
| countri | recoveri sri lankan economi make | countri | wellplac meet challeng main challeng |
| global | wellplac meet challeng main challeng | global | communiti pursu cooper welltim polici |
| polici | global communiti pursu cooper welltim | polici | initi multilater approach reduc vulner |
| growth | multilater approach reduc vulner rebal | growth | need sustain global recoveri intern |
| need | approach reduc vulner rebal growth | need | sustain global recoveri intern monetari |
| global | vulner rebal growth need sustain | global | recoveri intern monetari system past |
| global | system past facilit period unpreced | global | econom growth integr howev also |
| econom | past facilit period unpreced global | econom | growth integr howev also allow |
| growth | facilit period unpreced global econom | growth | integr howev also allow buildup |
| also | global econom growth integr howev | also | allow buildup critic weak core |
| economi | allow buildup critic weak core | economi | issu global reserv asset prolong |
| global | critic weak core economi issu | global | reserv asset prolong extern imbal |
| polici | goal must strengthen collabor captur | polici | interact spillov imf contribut kind |
| growth | analysi past decad seen unpreced | growth | crossbord capit flow part work |
| countri | flow appropri macroeconom respons recipi | countri | role macroprudenti tool measur includ |
| economi | side larg crossbord flow everi | economi | depend avail liquid time stress |
| also | net look way make effect | also | strengthen effort develop greater synergi |
| financ | effort develop greater synergi region | financ | arrang final key part work |
| global | part work program imf issu | global | reserv asset evolut system necessarili |
| market | gradual choic reserv asset inevit | market | decis potenti role sdr context |
| global | open mind sum let say | global | recoveri set continu led asian |
| economi | recoveri set continu led asian | economi | multispe recoveri proceed polici challeng |
| polici | asian economi multispe recoveri proceed | polici | challeng emerg sinc crisi becom |
| market | sinc crisi becom press emerg | market | central bank vigil overh capit |
| also | capit flow potenti worsen overh | also | complic exercis monetari polici also |
| polici | overh also complic exercis monetari | polici | also help place global economi |
| also | also complic exercis monetari polici | also | help place global economi path |
| global | monetari polici also help place | global | economi path sustain balanc growth |
| economi | polici also help place global | economi | path sustain balanc growth issu |
| growth | global economi path sustain balanc | growth | issu multilater approach need imf |
| need | balanc growth issu multilater approach | need | imf play role seacen governor |
| also | univers recogn look forward convers | also | member audienc intern monetari system |
| global | currenc exchang rate capit flow | global | financi safeti net name one |
| global | dollar serv safe haven asset | global | recoveri underway see littl reason |
| polici | world know end extraordinari intern | polici | cooper far wors outcom avert |
| global | incom inequ ad social strain | global | imbal back issu worri us |
| countri | flow around globe volatil fashion | countri | need stabl predict extern environ |
| need | around globe volatil fashion countri | need | stabl predict extern environ order |
| polici | environ order prosper first strengthen | polici | cooper clear one driver volatil |
| econom | cooper clear one driver volatil | econom | polici especi consist across countri |
| polici | clear one driver volatil econom | polici | especi consist across countri crisi |
| countri | econom polici especi consist across | countri | crisi mark watersh moment intern |
| polici | crisi mark watersh moment intern | polici | cooper leader took action necessari |
| global | took action necessari overcom domest | global | econom challeng worst crisi pass |
| econom | action necessari overcom domest global | econom | challeng worst crisi pass cooper |
| countri | worst crisi pass cooper sustain | countri | adopt polici consist sustain global |
| polici | pass cooper sustain countri adopt | polici | consist sustain global growth g |
| global | countri adopt polici consist sustain | global | growth g mutual assess process |
| growth | adopt polici consist sustain global | growth | g mutual assess process import |
| global | step toward creat perman framework | global | polici cooper imf surveil critic |
| polici | toward creat perman framework global | polici | cooper imf surveil critic complement |
| also | imf surveil critic complement map | also | lie core mandat activ imf |
| polici | activ imf seek identifi countrylevel | polici | deliv stabl global growth alreadi |
| global | identifi countrylevel polici deliv stabl | global | growth alreadi taken number signific |
| growth | countrylevel polici deliv stabl global | growth | alreadi taken number signific step |
| countri | vulner exercis increas focus impact | countri | polici across border particular five |
| polici | exercis increas focus impact countri | polici | across border particular five system |
| economi | across border particular five system | economi | new dedic spillov report prepar |
| also | new dedic spillov report prepar | also | delv deeper macrofinanci linkag help |
| countri | deeper macrofinanci linkag help fact | countri | repres world system financi system |
| need | whether even ambiti chang surveil | need | conduct major review effect second |
| polici | flow exchang rate volatil even | polici | front volatil go go away |
| economi | broad speak flow benefici receiv | economi | also complic macroeconom manag threaten |
| also | speak flow benefici receiv economi | also | complic macroeconom manag threaten financi |
| countri | manag threaten financi stabil especi | countri | whose financi sector lack depth |
| countri | measur case capit control natur | countri | respons driven primarili domest consider |
| global | impact other given spillov call | global | agre rule road manag capit |
| also | liquid provis time extrem volatil | also | believ illus stop crise entir |
| countri | stop crise entir occas hope | countri | face sudden stop access financi |
| market | face sudden stop access financi | market | sinc crisi come long way |
| global | crisi come long way strengthen | global | financi safeti net fund resourc |
| financ | fund resourc base increas signific | financ | toolkit made flexibl particular ad |
| countri | line precautionari credit line mani | countri | remain convinc global financi safeti |
| global | line mani countri remain convinc | global | financi safeti net strong enough |
| need | reserv continu well excess precautionari | need | els done one import avenu |
| financ | avenu explor strengthen partnership region | financ | arrang anoth improv predict system |
| also | reserv benchmark use time may | also | role sdr contribut stabl intern |
| global | rang idea topic includ increas | global | stock sdrs could help meet |
| countri | stock sdrs could help meet | countri | demand precautionari reserv use sdr |
| global | precautionari reserv use sdr price | global | trade denomin financi asset would |
| market | anoth relev issu ad emerg | market | currenc renminbi could help process |
| global | sdr alloc use manner consist | global | macroeconom stabil facilit trade sdrdenomin |
| polici | clear requir major leap intern | polici | coordin reason expect global reserv |
| global | intern polici coordin reason expect | global | reserv asset system evolv gradual |
| global | system evolv gradual along chang | global | economi let wrap issu touch |
| economi | evolv gradual along chang global | economi | let wrap issu touch intern |
| global | intern monetari system widerang complex | global | debat get start must recogn |
| need | kind wellbalanc sustain recoveri world | need | link prevent next crisi look |
| financ | imf immens gratitud japanes ministri | financ | support confer central bank financi |
| market | activ conjunct imf monetari capit | market | depart next two day hope |
| countri | bank supervis base four asian | countri | present experi promot effect bank |
| countri | fuell signific increas asset price | countri | import note asia financi system |
| economi | financi system prove resili advanc | economi | remain fragil subject signific downsid |
| global | region remain larg unscath recent | global | financi crisi critic becom complac |
| econom | reform agenda instrument support asia | econom | growth address new risk region |
| growth | agenda instrument support asia econom | growth | address new risk region financi |
| economi | address shortcom bank system advanc | economi | recent global financi crisi hit |
| global | bank system advanc economi recent | global | financi crisi hit region mani |
| economi | institut unlik mani peer develop | economi | larg refrain invest subprim structur |
| global | complac new intern regul becom | global | standard asia cannot afford left |
| market | furthermor asia develop deepen capit | market | progress financi sector reform necessari |
| need | improv precrisi status quo work | need | longer term exampl qualiti compar |
| countri | exampl qualiti compar capit across | countri | could defin clearer manner addit |
| polici | institut weak capit clear mani | polici | choic still lie ahead nation |
| global | declin core profit stillelev domest | global | macrofinanci risk would like highlight |
| need | policymak asia pacif region underscor | need | renew vigil sinc asian financi |
| polici | seen remark progress stabil asia | polici | maker supervisor drawn appropri lesson |
| econom | leap help bolster financi stabil | econom | growth year come allow would |
| growth | help bolster financi stabil econom | growth | year come allow would like |
| countri | assist ta ta program member | countri | receiv advic train aim strengthen |
| also | aim strengthen human institut capac | also | use ta help design implement |
| polici | design implement effect macroeconom structur | polici | particular relev lowincom lowermiddl incom |
| countri | particular relev lowincom lowermiddl incom | countri | account threequart imf ta expendituresproject |
| countri | period sharp increas demand ta | countri | face financi crise tradit ta |
| polici | tradit ta provid area fiscal | polici | monetari polici financi system legisl |
| polici | provid area fiscal polici monetari | polici | financi system legisl framework macroeconom |
| countri | cours program continu evolv member | countri | reassess polici strateg object rang |
| polici | continu evolv member countri reassess | polici | strateg object rang debt reduct |
| countri | expert recent step effort help | countri | build capac financi risk model |
| growth | risk model stress test cours | growth | ta program cannot sustain unless |
| also | imf annual oper budget program | also | reli signific extern financ bilater |
| financ | program also reli signific extern | financ | bilater multilater donor includ jsa |
| financ | multilater donor includ jsa extern | financ | account twothird imf ta deliv |
| financ | account quarter total extern ta | financ | receiv imf member countri well |
| countri | ta financ receiv imf member | countri | well seven region technic assist |
| polici | quit wide rang fiscal monetari | polici | account respect percent percent within |
| polici | respect percent percent within monetari | polici | categori bank sector oversight account |
| countri | enhanc bank supervis select asean | countri | includ cambodia indonesia philippin vietnam |
| countri | advisor led ta activ four | countri | previous receiv signific jsafund ta |
| global | resili respect bank sector recent | global | financi crisi stem part progress |
| polici | privileg meet student distinguish academ | polici | maker visit cambodia grate kind |
| econom | hospit learn firsthand cambodia impress | econom | progress challeng lie ahead sustain |
| global | challeng lie ahead sustain recoveri | global | recess present cover three broad |
| econom | cover three broad point start | econom | outlook risk world consid asia |
| growth | sustain recoveri move balanc pattern | growth | second manag risk associ rise |
| global | context nutshel good news expect | global | recoveri proceed led asia good |
| growth | downsid risk asia mean rebalanc | growth | strengthen domest sourc need remain |
| need | rebalanc growth strengthen domest sourc | need | remain high agenda manag strong |
| global | strong capit inflow part reflect | global | growth differenti cambodia rebalanc growth |
| growth | capit inflow part reflect global | growth | differenti cambodia rebalanc growth asia |
| growth | global growth differenti cambodia rebalanc | growth | asia offer signific opportun inclus |
| growth | offer signific opportun inclus diversifi | growth | reap requir continu focus macroeconom |
| global | continu focus macroeconom stabil competit | global | asia outlookth multispe recoveri set |
| economi | set continu although activ advanc | economi | moder less second half expect |
| growth | moder less second half expect | growth | remain subdu unemploy still high |
| economi | downsid risk contrast mani emerg | economi | activ remain buoyant inflat pressur |
| economi | inflow backdrop project activ advanc | economi | expand  ½ percent still |
| growth | year unit state expect boost | growth | Â ½ percent year japan |
| growth | percent year japan packag similar | growth | impact sustain moder recoveri although |
| growth | impact sustain moder recoveri although | growth | peripheri euro area mark year |
| growth | mark year offset upward revis | growth | germani due stronger domest demand |
| economi | stronger domest demand emerg develop | economi | growth expect remain buoyant  |
| growth | domest demand emerg develop economi | growth | expect remain buoyant  ½ |
| also | continu grow rapid emerg region | also | expect continu strong rebound downsid |
| economi | strong rebound downsid risk advanc | economi | continu elev main risk new |
| economi | remain weak across number advanc | economi | coupl question fiscal sustain recoveri |
| market | fiscal sustain recoveri real estat | market | key risk turbul advanc sovereign |
| market | risk turbul advanc sovereign debt | market | could trigger unsuccess debt rollov |
| market | event could creat renew financi | market | disloc interrupt transit toward stronger |
| economi | privatel demand mark slowdown advanc | economi | togeth heighten global risk avers |
| global | slowdown advanc economi togeth heighten | global | risk avers would quick spread |
| economi | would quick spread develop emerg | economi | advers feedback loop real financi |
| market | possibl renew weak key properti | market | includ unit state baselin project |
| polici | state baselin project assum current | polici | action manag keep financi turmoil |
| global | euro area result modest drag | global | recoveri view reflect limit financi |
| market | spillov observ far across financi | market | region well fact polici respons |
| polici | financi market region well fact | polici | respons follow greek crisi help |
| global | greek crisi help limit impact | global | recoveri second half exampl reaction |
| global | recoveri second half exampl reaction | global | debt equiti market irish crisi |
| market | exampl reaction global debt equiti | market | irish crisi contain risk emerg |
| economi | irish crisi contain risk emerg | economi | differ main relat overh rapid |
| global | rose consider part respons strong | global | demand also due suppli shock |
| also | part respons strong global demand | also | due suppli shock select commod |
| economi | uptick consum price inflat emerg | economi | attribut part rise food price |
| economi | overal price inflat number emerg | economi | addit resurg capit inflow emerg |
| market | addit resurg capit inflow emerg | market | ad overh pressur via rapid |
| growth | overh pressur via rapid credit | growth | rise asset price polici maker |
| polici | credit growth rise asset price | polici | maker fall behind curv respond |
| polici | pressur asset price bubbl macroeconom | polici | key emerg economi could set |
| economi | bubbl macroeconom polici key emerg | economi | could set stage boombust dynam |
| market | boombust dynam real estat credit | market | eventu hard land economi emerg |
| economi | credit market eventu hard land | economi | emerg market account almost percent |
| market | eventu hard land economi emerg | market | account almost percent global consumpt |
| global | emerg market account almost percent | global | consumpt twothird global growth slowdown |
| global | almost percent global consumpt twothird | global | growth slowdown economi would deal |
| growth | percent global consumpt twothird global | growth | slowdown economi would deal serious |
| economi | consumpt twothird global growth slowdown | economi | would deal serious blow global |
| global | economi would deal serious blow | global | recoveri implic asia asian economi |
| economi | global recoveri implic asia asian | economi | grew vigor lead global recoveri |
| global | asian economi grew vigor lead | global | recoveri growth percent expans moder |
| growth | grew vigor lead global recoveri | growth | percent expans moder assum normal |
| global | dynam restor trade link disrupt | global | recess export face stronger headwind |
| growth | recess export face stronger headwind | growth | final demand advanc economi remain |
| economi | headwind growth final demand advanc | economi | remain subdu china like becom |
| growth | becom import engin extern demand | growth | asian economi still small market |
| economi | engin extern demand growth asian | economi | still small market comparison larg |
| market | growth asian economi still small | market | comparison larg advanc economi especi |
| economi | small market comparison larg advanc | economi | especi consum good said chines |
| growth | indonesia set benefit domest demand | growth | china domest demand asian economi |
| economi | growth china domest demand asian | economi | maintain robust pace expans strong |
| market | robust pace expans strong labor | market | condit consum confid point healthi |
| growth | confid point healthi privat consumpt | growth | across region even absenc polici |
| polici | growth across region even absenc | polici | stimulus case privat consumpt boost |
| countri | boost resili remitt flow number | countri | import agricultur sector steadi rise |
| also | close full capac privat invest | also | maintain healthi growth bank credit |
| growth | privat invest also maintain healthi | growth | bank credit growth turn corner |
| growth | maintain healthi growth bank credit | growth | turn corner lend spread eas |
| also | spread eas domest financi condit | also | remain favor invest said moder |
| growth | favor invest said moder export | growth | uncertainti surround global recoveri might |
| global | moder export growth uncertainti surround | global | recoveri might induc moder invest |
| growth | structur mediumterm impedi privat invest | growth | address later main risk outlook |
| global | later main risk outlook pertain | global | recoveri econom fundament region general |
| econom | risk outlook pertain global recoveri | econom | fundament region general strong import |
| economi | rest world would make asian | economi | expos downsid risk advanc economi |
| economi | economi expos downsid risk advanc | economi | slowdown describ exampl final demand |
| economi | ad produc smaller open asean | economi | therefor one percentag point declin |
| growth | subtract percentag point averag gdp | growth | across region hand financi spillov |
| economi | risk appear general manag asian | economi | first oversea exposur bank includ |
| economi | exposur bank includ vulner advanc | economi | euro area small second strong |
| economi | escal debt sustain concern advanc | economi | jump global risk premia would |
| global | sustain concern advanc economi jump | global | risk premia would also rais |
| also | jump global risk premia would | also | rais financ cost across asian |
| financ | risk premia would also rais | financ | cost across asian economi particular |
| economi | rais financ cost across asian | economi | particular economi relat high public |
| economi | cost across asian economi particular | economi | relat high public andor extern |
| need | andor extern debt within asia | need | monitor develop china given sizabl |
| econom | china given sizabl spillov effect | econom | develop region risk sharperthanexpect slowdown |
| financ | would increas deterior local public | financ | bank sector asset qualiti credit |
| econom | program turn greater envisag key | econom | polici challengesrebalanc growthwith let turn |
| polici | turn greater envisag key econom | polici | challengesrebalanc growthwith let turn key |
| polici | challengesrebalanc growthwith let turn key | polici | challeng face region alreadi mention |
| econom | challeng sustain recoveri strengthen resili | econom | shock thus rebal asia growth |
| growth | econom shock thus rebal asia | growth | howev import know rebalanc strengthen |
| growth | know rebalanc strengthen domest sourc | growth | mean differ thing differ countri |
| countri | growth mean differ thing differ | countri | region first point make consumpt |
| need | household save rate risen reflect | need | precautionari save offset lack social |
| also | high current account surplus may | also | result invest slump howev investmenttogdp |
| economi | hold back invest number asian | economi | first relat financ constraint second |
| financ | number asian economi first relat | financ | constraint second relat shortfal infrastructur |
| economi | diverg across two group asian | economi | economi larg base domest demand |
| economi | across two group asian economi | economi | larg base domest demand india |
| economi | hong kong singapor lead asean | economi | invest share gdp fell steadili |
| economi | along relat stabl save group | economi | declin invest share contribut asia |
| economi | recent decad look close group | economi | declin invest main due fall |
| financ | america apart infrastructur bottleneck find | financ | constraint also affect invest particular |
| also | infrastructur bottleneck find financ constraint | also | affect invest particular smaller firm |
| market | crisi ampl room deepen financi | market | region part chart left show |
| market | chart left show corpor bond | market | small deni asia use spare |
| financ | asia use spare tire corpor | financ | bank becom reluct lend encourag |
| market | reluct lend encourag corpor bond | market | develop would help open addit |
| market | part region still room financi | market | develop exampl ventur capit play |
| growth | catalyt role startup firm new | growth | area still play minor role |
| economi | play minor role compar advanc | economi | capit inflowsi would like turn |
| polici | would like turn second major | polici | challeng one aris larg capit |
| economi | case includ indonesia among asean | economi | even surpass high level crisi |
| market | debt flow especi local bond | market | relat sizabl indonesia malaysia foreign |
| growth | compar sever region favor outlook | growth | relat advanc economi like lead |
| economi | favor outlook growth relat advanc | economi | like lead prolong period capit |
| growth | structur factor includ higher longerterm | growth | factor stronger polici fundament ongo |
| polici | higher longerterm growth factor stronger | polici | fundament ongo capit market deepen |
| market | stronger polici fundament ongo capit | market | deepen lead fund manag increas |
| market | fund manag increas asian emerg | market | alloc portfolio shift could take |
| market | chang gradual size emerg asset | market | still small relat advanc market |
| market | market still small relat advanc | market | effect market economi region could |
| market | small relat advanc market effect | market | economi region could persist signific |
| economi | relat advanc market effect market | economi | region could persist signific far |
| countri | region could persist signific far | countri | reli combin currenc appreci reserv |
| countri | flow mask signific variat respons | countri | one hand india abstain intervent |
| countri | brunt adjust hand intervent rapid | countri | indonesia thailand reserv percent precrisi |
| growth | policymak particular effect control money | growth | respons reserv accumul evidenc relat |
| growth | relat low sensit money suppli | growth | buildup central bank foreign asset |
| global | undermin effort tighten monetari stanc | global | interest rate like remain low |
| countri | interest rate like remain low | countri | tight manag exchang rate effect |
| global | exchang rate effect import easi | global | monetari condit unless tighten capit |
| economi | surg capit inflow less like | economi | flexibl exchang rate moreov greater |
| also | greater exchang rate flexibl would | also | lessen need intervent result risk |
| need | rate flexibl would also lessen | need | intervent result risk excess liquid |
| polici | excess liquid credit boom steril | polici | region appear work far mention |
| market | size depth domest fix incom | market | support signific expans steril oper |
| also | possibl extend toolkit macroprudenti measur | also | help mitig consequ sizabl potenti |
| economi | capit flow inde sever asian | economi | alreadi implement measur safeguard financi |
| market | alter natur inflow rather size | market | percept macroprudenti measur taken far |
| market | measur indonesia korea relat mild | market | respons part narrowli target phase |
| polici | current initi fall short goal | polici | maker need continu communic clear |
| need | fall short goal polici maker | need | continu communic clear market care |
| market | maker need continu communic clear | market | care explain rational target macroprudenti |
| polici | macroprudenti initi longerterm perspect key | polici | question improv local market absorpt |
| market | key polici question improv local | market | absorpt deal persist capit inflow |
| also | larg capit inflow asia challeng | also | present opportun facilit mediumterm rebalanc |
| financ | capit inflow appropri channel toward | financ | broaderbas growth better alloc capit |
| growth | appropri channel toward financ broaderbas | growth | better alloc capit domest foreign |
| need | malaysia promot privatepubl partnership much | need | infrastructur invest also requir promot |
| also | partnership much need infrastructur invest | also | requir promot financi market develop |
| market | invest also requir promot financi | market | develop access financ includ smaller |
| financ | promot financi market develop access | financ | includ smaller serviceori firm remain |
| global | thought opportun challeng aris cambodia | global | region econom develop global recoveri |
| econom | challeng aris cambodia global region | econom | develop global recoveri help restart |
| global | cambodia global region econom develop | global | recoveri help restart two three |
| growth | two three main engin cambodia | growth | recent year garment export tourism |
| growth | boom background creat addit engin | growth | go forward exampl agricultur food |
| growth | exampl agricultur food process make | growth | inclus particular benefit rural poor |
| polici | particular benefit rural poor import | polici | prioriti cambodia global rebalanc greater |
| global | poor import polici prioriti cambodia | global | rebalanc greater relianc asia domest |
| growth | greater relianc asia domest sourc | growth | offer signific opportun econom diversif |
| econom | sourc growth offer signific opportun | econom | diversif cambodia seiz rapid grow |
| market | cambodia close world fastest grow | market | continu healthi growth rate tourist |
| growth | fastest grow market continu healthi | growth | rate tourist arriv region global |
| global | growth rate tourist arriv region | global | recess underscor cambodia growth potenti |
| growth | region global recess underscor cambodia | growth | potenti export new market moreov |
| market | cambodia growth potenti export new | market | moreov emerg asia demand agricultur |
| countri | textil industri alreadi most neighbor | countri | cambodia could also becom primari |
| also | most neighbor countri cambodia could | also | becom primari beneficiari chines outsourc |
| need | public invest meet cambodia develop | need | infrastructur educ health would also |
| also | need infrastructur educ health would | also | enhanc intern competit renew emphasi |
| polici | invest includ recent adopt rice | polici | broaden cambodia sourc growth make |
| growth | rice polici broaden cambodia sourc | growth | make futur develop inclus thus |
| financ | irrig project kampong cham provinc | financ | resourc releas imf multilater debt |
| polici | effort strengthen macroeconom financi sector | polici | support broadbas inclus growth particular |
| growth | sector polici support broadbas inclus | growth | particular cambodia one major recipi |
| polici | reform well enhanc effici tax | polici | administr also seek maintain ongo |
| also | enhanc effici tax polici administr | also | seek maintain ongo dialogu current |
| polici | maintain ongo dialogu current macroeconom | polici | challeng resid repres offic phnom |
| econom | offic phnom penh regular visit | econom | team base washington conclusionsum let |
| economi | washington conclusionsum let say asian | economi | set continu robust growth lead |
| growth | asian economi set continu robust | growth | lead global economi multispe recoveri |
| global | set continu robust growth lead | global | economi multispe recoveri proceed polici |
| economi | continu robust growth lead global | economi | multispe recoveri proceed polici challeng |
| polici | global economi multispe recoveri proceed | polici | challeng emerg sinc crisi becom |
| growth | crisi becom press rebalanc asia | growth | mean differ thing differ economi |
| economi | growth mean differ thing differ | economi | includ china focus polici need |
| polici | differ economi includ china focus | polici | need boost domest consumpt other |
| need | economi includ china focus polici | need | boost domest consumpt other mean |
| financ | mitig infrastructur bottleneck improv access | financ | play import role time capit |
| need | import role time capit inflow | need | manag care short term also |
| also | need manag care short term | also | medium term view facilit econom |
| econom | also medium term view facilit | econom | rebalanc cambodia chang global econom |
| global | facilit econom rebalanc cambodia chang | global | econom landscap offer signific opportun |
| econom | econom rebalanc cambodia chang global | econom | landscap offer signific opportun broaderbas |
| growth | offer signific opportun broaderbas inclus | growth | commit develop partner imf look |
| global | monetari author singapor last novemb | global | economi tentat emerg great recess |
| economi | author singapor last novemb global | economi | tentat emerg great recess today |
| growth | tentat emerg great recess today | growth | recov across world imf latest |
| global | latest forecast releas last week | global | growth  ½ percent year |
| growth | forecast releas last week global | growth | Â ½ percent year higher |
| countri | imbal first recoveri unbalanc across | countri | growth remain potenti advanc economi |
| growth | first recoveri unbalanc across countri | growth | remain potenti advanc economi emerg |
| economi | countri growth remain potenti advanc | economi | emerg develop economi grow much |
| economi | potenti advanc economi emerg develop | economi | grow much faster may soon |
| countri | overh second recoveri unbalanc within | countri | global unemploy remain record high |
| global | second recoveri unbalanc within countri | global | unemploy remain record high widen |
| economi | right take holist approach manag | economi | one focus standard macroeconom financi |
| polici | one focus standard macroeconom financi | polici | also job creation social protect |
| also | focus standard macroeconom financi polici | also | job creation social protect without |
| global | twospe recoverylet begin recoveri proceed | global | level advanc economi expect subdu |
| economi | recoveri proceed global level advanc | economi | expect subdu growth  ½ |
| growth | level advanc economi expect subdu | growth | Â ½ percent high unemploy |
| economi | debt weigh demand emerg develop | economi | forecast much faster growth  |
| growth | develop economi forecast much faster | growth | Â ½ percent asia exclud |
| global | see worri develop precrisi pattern | global | imbal reemerg growth economi larg |
| growth | precrisi pattern global imbal reemerg | growth | economi larg extern deficit like |
| economi | pattern global imbal reemerg growth | economi | larg extern deficit like u |
| growth | u still driven domest demand | growth | economi larg extern surplus like |
| economi | still driven domest demand growth | economi | larg extern surplus like china |
| global | year lead crisi g emphas | global | imbal put sustain recoveri risk |
| global | imbal put sustain recoveri risk | global | growth gap also strain recoveri |
| growth | put sustain recoveri risk global | growth | gap also strain recoveri way |
| also | recoveri risk global growth gap | also | strain recoveri way energi price |
| growth | price rise swift reflect rapid | growth | emerg economi food price rise |
| economi | swift reflect rapid growth emerg | economi | food price rise though suppli |
| countri | reason potenti devast consequ lowincom | countri | togeth price increas begin feed |
| economi | larg volatil capit flow emerg | economi | anoth challeng develop complic macroeconom |
| economi | rebal recoveri prioriti wellknown advanc | economi | key promot growth job creation |
| growth | wellknown advanc economi key promot | growth | job creation structur reform essenti |
| economi | creation structur reform essenti make | economi | competit reform like pay time |
| growth | risk pave way healthi credit | growth | restor fiscal sustain anoth top |
| economi | sustain anoth top prioriti advanc | economi | averag public debt gdp ratio |
| global | term adjust could worri implic | global | growth even financi market stabil |
| growth | adjust could worri implic global | growth | even financi market stabil recoveri |
| market | implic global growth even financi | market | stabil recoveri strengthen countri move |
| countri | financi market stabil recoveri strengthen | countri | move quick formul implement credibl |
| countri | credibl mediumterm fiscal consolid plan | countri | consolid go even faster time |
| polici | go even faster time monetari | polici | advanc economi remain support long |
| economi | faster time monetari polici advanc | economi | remain support long inflat expect |
| polici | anchor unemploy stay high right | polici | domest perspect accommod stanc u |
| market | limit effect capit flow emerg | market | turn emerg economi specif impress |
| economi | flow emerg market turn emerg | economi | specif impress well weather crisi |
| countri | widerang financi structur reform mani | countri | adopt year crisi inde one |
| countri | host last summer see lesson | countri | could learn asia resili crisi |
| also | could learn asia resili crisi | also | cloud horizon risk overh even |
| polici | even hard land mean macroeconom | polici | tighten countri output gap near |
| countri | land mean macroeconom polici tighten | countri | output gap near close fact |
| need | action right decis though may | need | let turn one recent featur |
| polici | rais financi stabil concern macroprudenti | polici | also help might includ measur |
| also | financi stabil concern macroprudenti polici | also | help might includ measur slow |
| polici | use substitut necessari macroeconom macroprudenti | polici | anoth import element deepen financi |
| market | import element deepen financi capit | market | make easier less riski absorb |
| economi | flow come decad mani emerg | economi | includ sever asia face tremend |
| need | sever asia face tremend invest | need | particular infrastructur foreign invest play |
| financ | invest play critic role plug | financ | gap import question deal recurr |
| countri | import question deal recurr problem | countri | larg extern surplus acknowledg take |
| economi | take longer view clear emerg | economi | larg surplus need diversifi driver |
| need | clear emerg economi larg surplus | need | diversifi driver growth well understood |
| growth | larg surplus need diversifi driver | growth | well understood asia especi china |
| countri | resist hold back adjust one | countri | also make harder cost countri |
| also | hold back adjust one countri | also | make harder cost countri let |
| countri | countri also make harder cost | countri | let exchang rate adjust adjust |
| countri | turn second imbal occur within | countri | high unemploy rise incom wealth |
| global | incom wealth inequ sharp rise | global | unemploy major social problem lose |
| also | turn threaten polit stabil unemploy | also | major econom problem need action |
| econom | polit stabil unemploy also major | econom | problem need action overcom job |
| need | unemploy also major econom problem | need | action overcom job crisi central |
| also | state union address last week | also | strong undercurr polit turmoil tunisia |
| countri | turmoil tunisia rise social strain | countri | next decad million young peopl |
| economi | job must top prioriti advanc | economi | also mani poorer countri incom |
| also | must top prioriti advanc economi | also | mani poorer countri incom inequ |
| countri | advanc economi also mani poorer | countri | incom inequ also someth touch |
| also | mani poorer countri incom inequ | also | someth touch countri stage develop |
| countri | incom inequ also someth touch | countri | stage develop u exampl incom |
| economi | incom inequ matter emerg develop | economi | asia remark social advanc last |
| polici | tackl incom wealth dispar high | polici | agenda even wealthi nation like |
| also | ethic reason care incom inequ | also | import macroeconom reason inequ dampen |
| econom | import macroeconom reason inequ dampen | econom | opportun sinc poor less access |
| also | divert peopl toward unproduct activ | also | make countri prone shock fewer |
| countri | toward unproduct activ also make | countri | prone shock fewer peopl save |
| countri | grow longer best respond challeng | countri | face high jobless welldesign unemploy |
| economi | fiscal consolid get underway advanc | economi | must also ensur fiscal polici |
| also | get underway advanc economi must | also | ensur fiscal polici remain jobfriend |
| polici | economi must also ensur fiscal | polici | remain jobfriend possibl long haul |
| growth | haul effect way promot incom | growth | lower end distribut invest educ |
| economi | ramp skill worker st centuri | economi | ultim knowledg economi return educ |
| economi | st centuri economi ultim knowledg | economi | return educ tremend import must |
| need | must give peopl everywher tool | need | prosper high competit global economi |
| global | tool need prosper high competit | global | economi today support better recoveri |
| economi | need prosper high competit global | economi | today support better recoveri role |
| global | solut last impact achiev balanc | global | growth world largest economi auspic |
| growth | last impact achiev balanc global | growth | world largest economi auspic g |
| economi | balanc global growth world largest | economi | auspic g creat histor framework |
| polici | auspic g creat histor framework | polici | coordin socal mutual assess process |
| countri | socal mutual assess process g | countri | held account adopt polici need |
| polici | g countri held account adopt | polici | need achiev strong stabl balanc |
| need | countri held account adopt polici | need | achiev strong stabl balanc global |
| global | need achiev strong stabl balanc | global | growth request g imf lend |
| growth | achiev strong stabl balanc global | growth | request g imf lend critic |
| econom | import initi broad surveil member | econom | financi polici impact interlinkag spillov |
| polici | broad surveil member econom financi | polici | impact interlinkag spillov economi lie |
| economi | financi polici impact interlinkag spillov | economi | lie heart imf mandat build |
| also | build stabl intern monetari system | also | part solut featur promin imf |
| global | capit flow commod price strengthen | global | financi safeti net certain help |
| also | safeti net certain help issu | also | key focus g year turn |
| global | program imf move agenda forward | global | level event like joint imfilo |
| polici | trade union civil societi intern | polici | coordin effort success need system |
| need | intern polici coordin effort success | need | system global govern reflect balanc |
| global | coordin effort success need system | global | govern reflect balanc global econom |
| global | system global govern reflect balanc | global | econom power specif need system |
| econom | global govern reflect balanc global | econom | power specif need system asia |
| need | balanc global econom power specif | need | system asia given role keep |
| econom | given role keep larg grow | econom | weight cours greater role also |
| also | econom weight cours greater role | also | come greater respons world look |
| countri | govern reform imf chang way | countri | work togeth recent reform packag |
| econom | packag implement last imf reflect | econom | realiti world today look forward |
| countri | greater recoveri run steam tension | countri | increas could see rise protection |
| financ | could see rise protection trade | financ | tension within countri increas could |
| countri | protection trade financ tension within | countri | increas could see rise social |
| global | nation even war worri momentum | global | cooper confid work togeth across |
| countri | cooper confid work togeth across | countri | across segment societi overcom challeng |
| global | build stronger fairer ultim success | global | economi togeth build better recoveri |
| economi | stronger fairer ultim success global | economi | togeth build better recoveri asia |
| econom | better recoveri asia one lead | econom | region world play essenti role |
| global | us like mani institut engag | global | financi market fund current particip |
| market | mani institut engag global financi | market | fund current particip intens intern |
| global | new lend facil help reinforc | global | financi safeti net work enhanc |
| also | surveil strengthen crisi prevent fund | also | much involv togeth fsb bis |
| countri | could done better perspect individu | countri | broad global economi start discuss |
| global | better perspect individu countri broad | global | economi start discuss would like |
| economi | perspect individu countri broad global | economi | start discuss would like ask |
| market | denomin currenc rapid grow emerg | market | economi reserv manag procyclicalityaccord imf |
| economi | currenc rapid grow emerg market | economi | reserv manag procyclicalityaccord imf staff |
| global | reserv manag withdrew us billion | global | bank sector crisi withdraw coincid |
| market | withdraw coincid collaps interbank fund | market | bank forc reli larg fund |
| need | facil offset withdraw howev fund | need | larg mani central bank choic |
| also | point potenti concern procycl may | also | rais concern perspect invest countri |
| countri | also rais concern perspect invest | countri | percept increas credit risk reduc |
| need | behavior formal action order adjust | need | methodolog use reserv manag assess |
| countri | foreign exchang reserv manag member | countri | take notic deeper conflict interest |
| polici | author breath space adjust macroeconom | polici | strengthen investor confid countri meet |
| countri | macroeconom polici strengthen investor confid | countri | meet extern oblig review topic |
| countri | experi highlight import import coverag | countri | lack privat capit market access |
| market | coverag countri lack privat capit | market | access well critic role shortterm |
| countri | critic role shortterm extern debt | countri | signific privat market access particular |
| market | extern debt countri signific privat | market | access particular wide cite greenspanguidotti |
| market | common use rule thumb emerg | market | countri last roundtabl discuss whether |
| countri | use rule thumb emerg market | countri | last roundtabl discuss whether reason |
| also | focus three aspect first whether | also | intern drain reserv reflect capit |
| econom | crisi therebi reduc risk outright | econom | contract issu particular relev given |
| market | strain sever european sovereign debt | market | countri involv part currenc union |
| countri | sever european sovereign debt market | countri | involv part currenc union unabl |
| countri | adjust via exchang rate shift | countri | build higher reserv cushion robust |
| market | order make less vulner chang | market | sentiment look forward learn concret |
| also | well reaction analysi reserv adequaci | also | look forward hear view whether |
| need | region pool reserv fund reduc | need | precautionari hold reserv reserv manag |
| countri | interest rate observ tradit reserv | countri | cours signific uptick rate sinc |
| countri | present larg gap advanc emerg | countri | rate impli reserv invest low |
| market | cost context intervent foreign exchang | market | high moreov tight incom posit |
| countri | beyond firm establish independ within | countri | legal framework solut potenti problem |
| polici | guid profit consider execut fundament | polici | time central bank also respons |
| also | fundament polici time central bank | also | respons act good steward resourc |
| also | matur present could boost incom | also | aid develop domest debt capit |
| market | aid develop domest debt capit | market | cours right may optim moment |
| countri | rate exposur combin balanc sheet | countri | larg reserv perhap consid shorter |
| countri | govern debt posit vice versa | countri | util alm approach would ask |
| market | durat reserv manag hold emerg | market | currenciesemerg market play increas import |
| market | manag hold emerg market currenciesemerg | market | play increas import role world |
| economi | play increas import role world | economi | term reserv currenc howev countri |
| countri | economi term reserv currenc howev | countri | play minim role estim approxim |
| market | histor perspect recent mani emerg | market | struggl persist inflat extern vulner |
| countri | persist inflat extern vulner howev | countri | made massiv stride growth rate |
| growth | howev countri made massiv stride | growth | rate signific hope sustain faster |
| countri | signific hope sustain faster industri | countri | macroeconom polici reduc inflat fiscal |
| polici | sustain faster industri countri macroeconom | polici | reduc inflat fiscal balanc look |
| growth | look ahead expect continu strong | growth | emerg market develop countri impli |
| market | expect continu strong growth emerg | market | develop countri impli aggreg match |
| countri | strong growth emerg market develop | countri | impli aggreg match current main |
| economi | aggreg match current main reserv | economi | econom weight weo project impli |
| econom | match current main reserv economi | econom | weight weo project impli term |
| market | world second largest export emerg | market | project match export major reserv |
| economi | match export major reserv currenc | economi | soon second half decad think |
| economi | tradit rule thumb currenc distribut | economi | intern reserv match broad term |
| economi | match broad term currenc basket | economi | intern import shortterm extern debt |
| market | line rule thumb third emerg | market | economi financi system develop may |
| economi | rule thumb third emerg market | economi | financi system develop may true |
| economi | system develop may true advanc | economi | well export featur increas import |
| countri | increas import currenc debt transact | countri | thus seem like inevit role |
| market | seem like inevit role emerg | market | currenc becom import trade debt |
| market | particip view synthet exposur offshor | market | scope expand sdr basket includ |
| countri | might compris particular invest currenc | countri | one region one similar risk |
| countri | currenc composit intern reserv especi | countri | lower cushion absorb shortterm volatil |
| also | report execut board fund colleagu | also | would like know issu consid |
| countri | manag maxim oper benefit member | countri | final let take opportun thank |
| econom | part highlevel examin latin america | econom | financi perform prospect auspici moment |
| financ | high commod price easi extern | financ | condit help power surg consumpt |
| growth | help power surg consumpt invest | growth | cours favor forc also ad |
| also | invest growth cours favor forc | also | ad complex challeng econom polici |
| econom | forc also ad complex challeng | econom | polici manag unpreced good time |
| polici | also ad complex challeng econom | polici | manag unpreced good time end |
| global | would like discuss princip trend | global | economi affect latin america well |
| economi | like discuss princip trend global | economi | affect latin america well touch |
| global | region role necessari crucial process | global | econom rebalanc given focus remark |
| econom | role necessari crucial process global | econom | rebalanc given focus remark today |
| countri | issu challeng face mani caribbean | countri | fund close engag member region |
| polici | week barbado analyz detail area | polici | challeng latin america contexta know |
| countri | america contexta know latin american | countri | weather great recess well comparison |
| global | payment crise besieg previous period | global | strain owe earlier effort strengthen |
| polici | strain owe earlier effort strengthen | polici | framework accumul foreign reserv buffer |
| economi | save potenti vulner reduc region | economi | becom resili strengthen econom polici |
| econom | region economi becom resili strengthen | econom | polici framework taken place mani |
| polici | economi becom resili strengthen econom | polici | framework taken place mani countri |
| countri | polici framework taken place mani | countri | includ mani case adopt inflat |
| countri | implement fiscal debt sustain rule | countri | author posit implement effect countercycl |
| polici | author posit implement effect countercycl | polici | order resist global crisi despit |
| global | effect countercycl polici order resist | global | crisi despit face except larg |
| also | extern shock domest financi system | also | becom much resili part owe |
| countri | decad help mani south american | countri | regist notabl progress social human |
| global | success prevent major output loss | global | crisi help ensur precrisi improv |
| polici | bit new howev moment strengthen | polici | foundat make differ avoid andor |
| growth | precis period relat abund solid | growth | suspect realiz crucial time sustain |
| global | current cycl reform progress right | global | outlook challeng latin americain contrast |
| economi | latin americain contrast expans advanc | economi | sustain moder pace growth mani |
| growth | advanc economi sustain moder pace | growth | mani case weak reduc unemploy |
| growth | balanc sheet hold back credit | growth | privat demand moreov despit relat |
| global | demand moreov despit relat robust | global | growth pace expans remain subject |
| growth | moreov despit relat robust global | growth | pace expans remain subject nontrivi |
| growth | especi euro area potenti undermin | growth | lack progress formul credibl mediumterm |
| economi | fiscal consolid plan mani advanc | economi | could weaken confid push longterm |
| countri | trigger social polit strain develop | countri | overlook indic global cooper character |
| global | strain develop countri overlook indic | global | cooper character respons onset crisi |
| economi | posit still challeng background advanc | economi | much polici room maneuv secur |
| polici | challeng background advanc economi much | polici | room maneuv secur faster growth |
| growth | polici room maneuv secur faster | growth | via shift domest macroeconom polici |
| polici | growth via shift domest macroeconom | polici | recent u data latest polici |
| polici | polici recent u data latest | polici | initi suggest growth slight better |
| growth | data latest polici initi suggest | growth | slight better expect previous financi |
| market | slight better expect previous financi | market | particip look indic polit consensus |
| countri | emerg regard mediumterm fiscal consolid | countri | either room fiscal expans push |
| market | room fiscal expans push financi | market | pressur tighten budget polici immedi |
| polici | financi market pressur tighten budget | polici | immedi context accommod monetari polici |
| polici | polici immedi context accommod monetari | polici | advanc economi far welcom appropri |
| economi | context accommod monetari polici advanc | economi | far welcom appropri commod price |
| growth | product salient factor howev robust | growth | key asian economi intens commod |
| economi | howev robust growth key asian | economi | intens commod use rise demand |
| economi | good news number latin american | economi | also complic everyon task monetari |
| also | news number latin american economi | also | complic everyon task monetari polici |
| polici | also complic everyon task monetari | polici | macroeconom manag next step global |
| global | polici macroeconom manag next step | global | solutionthi descript key trend risk |
| global | solutionthi descript key trend risk | global | outlook lead less inexor conclus |
| polici | conclus develop implement coher time | polici | initi rebal global growth reduc |
| global | coher time polici initi rebal | global | growth reduc financi sector vulner |
| growth | time polici initi rebal global | growth | reduc financi sector vulner critic |
| global | sector vulner critic element sustain | global | expans word requir present cooper |
| econom | requir present cooper multilater approach | econom | polici set offer real prospect |
| polici | present cooper multilater approach econom | polici | set offer real prospect mutual |
| global | benefici outcom power potenti effect | global | cooper demonstr clear acut phase |
| global | view decid posit headlin process | global | polici cooper remain aliv relev |
| polici | decid posit headlin process global | polici | cooper remain aliv relev even |
| global | deliv unpreced use approach formul | global | coher econom financi polici particular |
| econom | use approach formul global coher | econom | financi polici particular g leader |
| polici | formul global coher econom financi | polici | particular g leader framework strong |
| growth | leader framework strong balanc sustain | growth | repres multilater process g countri |
| countri | growth repres multilater process g | countri | includ brazil mexico argentina identifi |
| global | mexico argentina identifi overal object | global | economi specif polici need reach |
| economi | argentina identifi overal object global | economi | specif polici need reach g |
| polici | overal object global economi specif | polici | need reach g leader also |
| need | object global economi specif polici | need | reach g leader also commit |
| also | polici need reach g leader | also | commit mutual assess process map |
| market | intern organ issu labor product | market | financi market trade first round |
| market | issu labor product market financi | market | trade first round result process |
| polici | round result process includ set | polici | commit g member made public |
| polici | specifi seoul leader declar actual | polici | need near term advanc economi |
| need | seoul leader declar actual polici | need | near term advanc economi urgent |
| economi | polici need near term advanc | economi | urgent task acceler repair restructur |
| growth | commit credibl fiscal consolid plan | growth | begin shrink current wide margin |
| economi | long inflat remain nonissu advanc | economi | central bank natur maintain accommod |
| polici | central bank natur maintain accommod | polici | stanc time emerg economi need |
| economi | accommod polici stanc time emerg | economi | need keep overh pressur check |
| need | polici stanc time emerg economi | need | keep overh pressur check take |
| countri | export revenu foremost import mani | countri | need recalibr macroeconom polici demand |
| need | revenu foremost import mani countri | need | recalibr macroeconom polici demand product |
| polici | mani countri need recalibr macroeconom | polici | demand product surpass avail resourc |
| countri | rise quick classic boombust cycl | countri | larg current account surplus would |
| countri | import extern deficit like mani | countri | latin america need exercis caution |
| need | like mani countri latin america | need | exercis caution domest demand gain |
| need | gain remain within sustain margin | need | remain attent potenti financi sector |
| polici | outsiz asset price rise cours | polici | would help sustain latin america |
| growth | would help sustain latin america | growth | also contribut durabl reduct global |
| also | help sustain latin america growth | also | contribut durabl reduct global imbal |
| global | growth also contribut durabl reduct | global | imbal benefit capit inflowswithin multilater |
| market | multilater context capit inflow emerg | market | center public discuss past year |
| economi | year surpris month septemb emerg | economi | latin america asia receiv net |
| need | last decad cours recent experi | need | kept perspect first import underlin |
| growth | perspect first import underlin rapid | growth | inflow reflect recoveri sudden stop |
| economi | account prospect sustain strong emerg | economi | growth recogn institut invest portfolio |
| growth | prospect sustain strong emerg economi | growth | recogn institut invest portfolio advanc |
| economi | recogn institut invest portfolio advanc | economi | remain signific underweight emerg economi |
| economi | economi remain signific underweight emerg | economi | asset longterm basi easi conclud |
| market | conclud robust capit inflow emerg | market | form structur characterist global financi |
| global | emerg market form structur characterist | global | financi market mani year come |
| market | form structur characterist global financi | market | mani year come fact prospect |
| economi | underscor confid likelihood strong emerg | economi | growth current except low yield |
| growth | confid likelihood strong emerg economi | growth | current except low yield advanc |
| economi | current except low yield advanc | economi | bond market accommod advanc economi |
| market | low yield advanc economi bond | market | accommod advanc economi monetari polici |
| economi | economi bond market accommod advanc | economi | monetari polici ad fundament driver |
| polici | market accommod advanc economi monetari | polici | ad fundament driver one key |
| economi | one key implic develop emerg | economi | need accommod effect nearterm recoveri |
| need | key implic develop emerg economi | need | accommod effect nearterm recoveri capit |
| also | recoveri capit inflow follow hiatus | also | trend increas flow come year |
| market | includ step develop deepen financi | market | elimin longstand obstacl product gain |
| growth | gain togeth move enhanc potenti | growth | permit economi absorb foreign capit |
| economi | move enhanc potenti growth permit | economi | absorb foreign capit effici effect |
| countri | current condit present excel opportun | countri | address fundament issu stage econom |
| econom | countri address fundament issu stage | econom | cycl may much harder fix |
| economi | term howev clear inflow emerg | economi | contribut alreadi robust domest demand |
| growth | instanc currenc mismatch excess credit | growth | even asset price surg third |
| polici | address relat easili relax monetari | polici | failur maintain macroeconom financi balanc |
| economi | balanc could troublesom particular emerg | economi | extern current account deficit sudden |
| economi | financi instabl general advic emerg | economi | act multipl front keep mind |
| economi | front keep mind impact broader | economi | perman increas capit flow allow |
| polici | benefit central import basic macroeconom | polici | lever fiscal monetari exchang rate |
| growth | exchang rate util sustain balanc | growth | appropri polici respons vari across |
| polici | util sustain balanc growth appropri | polici | respons vari across countri like |
| countri | appropri polici respons vari across | countri | like involv follow element move |
| also | rate alreadi clear overvalu possibl | also | well design intervent import recogn |
| polici | way bet adjust fiscalmonetari macro | polici | mix tighten fiscal polici maintain |
| polici | macro polici mix tighten fiscal | polici | maintain sustain pace demand growth |
| growth | polici maintain sustain pace demand | growth | condit permit allow lower polici |
| polici | growth condit permit allow lower | polici | interest rate case especi strong |
| countri | fiscal stimulus yet fulli revers | countri | need under fiscal adjust current |
| need | stimulus yet fulli revers countri | need | under fiscal adjust current favor |
| also | beyond macroeconom respons measur may | also | prove help strengthen prudenti measur |
| need | could consid part toolkit substitut | need | macroeconom prudenti measur cours structur |
| growth | financi sector develop help expand | growth | potenti resili shock fact reform |
| polici | form crucial aspect g framework | polici | program latin america differ natur |
| polici | america differ natur question whether | polici | work latin america latin america |
| countri | work latin america latin america | countri | differ emerg market peer sever |
| market | latin america countri differ emerg | market | peer sever import respect capit |
| polici | open make suscept inflow surg | polici | framework allow higher degre exchang |
| economi | deficit contrast sever key asian | economi | moreov current account deterior late |
| economi | faster output respect latin american | economi | much less space current account |
| need | current account weaken latin america | need | resist buildup financi excess demand |
| countri | inflow adjust higher commod revenu | countri | canada norway serv good exampl |
| econom | wellworn rout inflat overshoot heighten | econom | volatil let fiscal polici feed |
| polici | heighten econom volatil let fiscal | polici | feed unsustain demand boom begin |
| need | issu brazil exampl context gaug | need | fiscal adjust requir take account |
| growth | possibl approach would limit spend | growth | match structur revenu gain rather |
| also | structur revenu gain rather includ | also | temporari boomrel gain strengthen develop |
| polici | gain strengthen develop new macroprudenti | polici | area fund colleagu would advis |
| global | would advis work fast wait | global | consensus develop regard guidelin optim |
| polici | consensus develop regard guidelin optim | polici | action fact much accomplish build |
| countri | countryspecif experi sever latin american | countri | includ brazil colombia peru alreadi |
| countri | includ cyclic dynam provis necessari | countri | may want strengthen regul relat |
| global | domest bank system latin america | global | economyi hope observ clear point |
| need | opportun time special phase abund | need | manag care author princip task |
| global | fortifi resili extern shock regard | global | context argu latin america share |
| global | argu latin america share toward | global | rebalanc domest demand grow faster |
| global | attain goal strong sustain balanc | global | growth state earlier minimum coher |
| growth | goal strong sustain balanc global | growth | state earlier minimum coher multilater |
| global | coher multilater approach requir achiev | global | goal g frameworkmap process provid |
| countri | level tax seminar asian pacif | countri | organ fiscal affair depart would |
| financ | like thank cohost japanes ministri | financ | generous support seminar staff fiscal |
| also | pacif theireffort make seminar possibl | also | thank deleg australia korea singapor |
| economi | worldwid mani advanc emerg develop | economi | face signific challeng year ahead |
| need | though challeng differ think taxat | need | understand world general asia particular |
| economi | first say word state world | economi | global recoveri continu advanc remain |
| global | say word state world economi | global | recoveri continu advanc remain uneven |
| economi | remain uneven across world advanc | economi | recoveri somewhat fragil high unemploy |
| growth | household balanc sheet sluggish credit | growth | hold back privat demand outlook |
| economi | outlook differ mani emerg develop | economi | strong intern demand rebound global |
| global | economi strong intern demand rebound | global | trade power robust recoveri especi |
| polici | power robust recoveri especi asia | polici | prioriti today cours need continu |
| need | asia polici prioriti today cours | need | continu provid suffici support aggreg |
| econom | suffici support aggreg demand appropri | econom | polici extent howev vari across |
| polici | support aggreg demand appropri econom | polici | extent howev vari across countri |
| countri | polici extent howev vari across | countri | howev focus mediumterm challeng ensur |
| global | challeng ensur fiscal solvenc wake | global | financi crisi overal fiscal balanc |
| economi | balanc deterior sharpli particular advanc | economi | result various factor factor transitori |
| global | discretionari fiscal stimulus arrest fall | global | demand other may well longer |
| economi | increas govern debt particular advanc | economi | base project publish fall issu |
| economi | gross general govern debt advanc | economi | would reach stagger percent gdp |
| need | credibl mediumterm plan fiscal consolid | need | urgent reassur market goal plan |
| market | fiscal consolid need urgent reassur | market | goal plan lower debttogdp ratio |
| econom | valu fiscal space abl cushion | econom | impact crisi emerg develop economi |
| economi | econom impact crisi emerg develop | economi | asia sever hit crisi advanc |
| economi | asia sever hit crisi advanc | economi | howev demograph chang lowincom countri |
| countri | economi howev demograph chang lowincom | countri | develop need social problem also |
| need | demograph chang lowincom countri develop | need | social problem also put pressur |
| also | countri develop need social problem | also | put pressur public financ thus |
| financ | problem also put pressur public | financ | thus evid maintain fiscal sustain |
| polici | evid maintain fiscal sustain key | polici | object go forward emerg develop |
| economi | object go forward emerg develop | economi | let mention revenu trend bit |
| countri | revenu sever hit crisi mani | countri | sinc onset note effect temporari |
| polici | expect persist rais key tax | polici | tax administr issu tax administr |
| need | period tax complianc come pressur | need | avoid perman damag countri collect |
| countri | pressur need avoid perman damag | countri | collect abil tax polici side |
| polici | damag countri collect abil tax | polici | side main challeng reform tax |
| countri | reform tax system way least | countri | low tax rate revenu ratio |
| economi | tax expenditur advanc emerg develop | economi | acceler global also impos challeng |
| global | advanc emerg develop economi acceler | global | also impos challeng govern contain |
| also | emerg develop economi acceler global | also | impos challeng govern contain revenu |
| polici | govern contain revenu leakag tax | polici | tax administr system typic sophist |
| polici | fiscal affair depart expertis tax | polici | tax administr intend discuss viabl |
| polici | discuss viabl approach address tax | polici | tax administr challeng ensur fiscal |
| polici | go discuss come day tax | polici | option fiscal sustain review overarch |
| countri | ratio composit revenu sourc differ | countri | need practic countryspecif design tax |
| need | composit revenu sourc differ countri | need | practic countryspecif design tax reform |
| economi | administr gap widespread advanc develop | economi | pervas abus inform aggress tax |
| countri | sector respons request g group | countri | submit report last june financi |
| polici | seminar hope fruit discuss topic | polici | area intern cooper import meet |
| polici | intern cooper import meet tax | polici | tax administr challeng hope particip |
| countri | tax administr challeng hope particip | countri | use opportun provid seminar build |
| polici | remark today outlook u fiscal | polici | impact global economi new mechan |
| global | outlook u fiscal polici impact | global | economi new mechan intern polici |
| economi | u fiscal polici impact global | economi | new mechan intern polici cooper |
| polici | global economi new mechan intern | polici | cooper hold promis improv global |
| global | polici cooper hold promis improv | global | econom balanc deliv stronger stabl |
| econom | cooper hold promis improv global | econom | balanc deliv stronger stabl growth |
| growth | econom balanc deliv stronger stabl | growth | u fiscal policyturn first u |
| polici | fiscal policyturn first u fiscal | polici | slow pace far econom recoveri |
| econom | fiscal polici slow pace far | econom | recoveri weak job creation despit |
| polici | argu maintain support monetari fiscal | polici | near term inde expansionari fiscal |
| polici | near term inde expansionari fiscal | polici | alreadi play critic role avert |
| growth | measur contribut percentag point gdp | growth | anoth one percentag point last |
| polici | follow world war ii without | polici | adjust subsequ debt simpli would |
| need | simpli would keep rise perspect | need | urgent action secur mediumterm fiscal |
| growth | packag understand measur like boost | growth | year half percentag point cours |
| also | year half percentag point cours | also | rais deficit maintain support fiscal |
| polici | rais deficit maintain support fiscal | polici | stanc time reflect realiti polici |
| polici | polici stanc time reflect realiti | polici | interest rate near zero effect |
| polici | rate near zero effect monetari | polici | uncertain said fed latest quantit |
| growth | eas program like modest impact | growth | appear nonetheless reduc percept downsid |
| also | boost aggreg demand although packag | also | includ measur may less like |
| also | tax break low middleincom household | also | posit impact spend although wellknown |
| growth | household despit expect posit impact | growth | new measur also make difficult |
| also | posit impact growth new measur | also | make difficult unit state meet |
| financ | inde challeng face u public | financ | underestim given sluggish recoveri prospect |
| growth | revenu prospect crisi lower potenti | growth | therebi lower futur rate revenu |
| growth | therebi lower futur rate revenu | growth | well current level also could |
| also | revenu growth well current level | also | could play role cours extent |
| growth | could play role cours extent | growth | surpris upsid eventu burden need |
| need | growth surpris upsid eventu burden | need | fiscal adjust could lighten fact |
| polici | window opportun open u fiscal | polici | adjust shouldn miss u interest |
| growth | histor standard part due low | growth | inflat prospect also reflect low |
| also | due low growth inflat prospect | also | reflect low risk premium u |
| economi | rise u debttogdp ratio moreov | economi | gain momentum automat stabil help |
| need | short run view unit state | need | make window opportun tackl structur |
| need | propos ambiti consolid plan emphas | need | broadbas revenu spend measur plan |
| also | costshar rule certain public program | also | set limit begin growth feder |
| growth | program also set limit begin | growth | feder healthrel transfer program anoth |
| econom | nation save rais revenu limit | econom | distort commiss also call reform |
| also | revenu limit econom distort commiss | also | call reform budgetari process help |
| growth | term back level onward limit | growth | onehalf project inflat rate general |
| polici | could becom progress optimist fiscal | polici | prospect help sustain effort need |
| need | polici prospect help sustain effort | need | anchor fiscal credibl fiscal consolid |
| also | fiscal consolid challeng feder govern | also | state local govern state local |
| also | arrang prevent greater runup debt | also | mandat cut discretionari spend measur |
| need | phaseout feder emerg transfer combin | need | rebuild fiscal reserv creat room |
| global | urgent challeng time come implic | global | economywith unit state still account |
| global | unit state still account quarter | global | economi strengthen u recoveri would |
| economi | state still account quarter global | economi | strengthen u recoveri would posit |
| global | strengthen u recoveri would posit | global | implic exampl estim effect fiscal |
| global | import billion although repres percent | global | import ad demand undoubt made |
| countri | larger contribut indirect effect partner | countri | growth perhap import stimulus play |
| growth | contribut indirect effect partner countri | growth | perhap import stimulus play help |
| global | confid reduc risk sharper sustain | global | downturn look forward sound u |
| financ | look forward sound u public | financ | essenti achiev g leader tripl |
| global | tripl goal strong sustain balanc | global | growth moreov absenc credibl mediumterm |
| growth | goal strong sustain balanc global | growth | moreov absenc credibl mediumterm fiscal |
| economi | rate knockon effect borrow cost | economi | accord imf calcul percentag point |
| global | treasuri yield could prove disrupt | global | financi market world economi circumst |
| market | could prove disrupt global financi | market | world economi circumst u make |
| economi | disrupt global financi market world | economi | circumst u make meaning downpay |
| global | demonstr effect would add credenc | global | adjust effort unit state fiscal |
| global | provid power exampl potenti benefit | global | polici cooper discuss octob world |
| polici | power exampl potenti benefit global | polici | cooper discuss octob world econom |
| econom | polici cooper discuss octob world | econom | outlook fiscal consolid analyz isol |
| growth | analyz isol tend depress nearterm | growth | boost longer term thus understand |
| polici | howev time trade partner adopt | polici | support domest demand result boost |
| polici | adjust like occur word collect | polici | action help deliv solut better |
| polici | help deliv solut better intern | polici | cooperationalthough still earli day potenti |
| economi | cooper wake crisi world largest | economi | creat novel mechan help guid |
| econom | novel mechan help guid fundament | econom | polici postcrisi era underpin intend |
| polici | mechan help guid fundament econom | polici | postcrisi era underpin intend serious |
| growth | g framework strong balanc sustain | growth | launch pittsburgh summit septemb backbon |
| countri | backbon framework multilater process g | countri | identifi object global economi polici |
| global | process g countri identifi object | global | economi polici need reach broad |
| economi | g countri identifi object global | economi | polici need reach broad share |
| polici | countri identifi object global economi | polici | need reach broad share consensus |
| need | identifi object global economi polici | need | reach broad share consensus coher |
| economi | consist adjust effort requir g | economi | goal attain general term agreement |
| polici | term agreement regard natur requir | polici | figur g member also commit |
| also | requir polici figur g member | also | commit mutual assess process map |
| market | intern organ issu labor product | market | financi market trade initi stage |
| market | issu labor product market financi | market | trade initi stage g member |
| polici | g member share imf staff | polici | plan econom project next year |
| econom | share imf staff polici plan | econom | project next year evalu imf |
| countri | action could improv outlook bring | countri | closer object basic insight upsid |
| polici | upsid scenario coher set altern | polici | reflect process optim global set |
| global | altern polici reflect process optim | global | set implement would expect produc |
| economi | superior outcom relat baselin g | economi | figur sens prospect whether map |
| polici | sens prospect whether map upsid | polici | implement depend princip answer two |
| polici | g author accept superior altern | polici | set real realist everi g |
| polici | g member interest implement indic | polici | adjust second g member trust |
| polici | g member trust other follow | polici | indic toronto seoul summit leader |
| polici | likelihood g member implement intend | polici | includ use agre indic guidelin |
| also | guidelin gaug progress reduc imbal | also | made detail countryspecif polici commit |
| polici | imbal also made detail countryspecif | polici | commit could bring global economi |
| global | countryspecif polici commit could bring | global | economi closer upsid scenario publish |
| economi | polici commit could bring global | economi | closer upsid scenario publish page |
| countri | enforc teeth develop take time | countri | want assur process reflect view |
| polici | would enhanc prospect effect intern | polici | coordin demonstr unit state readi |
| need | state readi part take step | need | deliv strong stabl balanc global |
| global | need deliv strong stabl balanc | global | growth countri encourag follow commit |
| growth | deliv strong stabl balanc global | growth | countri encourag follow commit well |
| countri | strong stabl balanc global growth | countri | encourag follow commit well fund |
| polici | fund colleagu convinc effect intern | polici | cooper improv global econom outcom |
| global | effect intern polici cooper improv | global | econom outcom chanc success effort |
| econom | intern polici cooper improv global | econom | outcom chanc success effort promis |
| global | like talk financi crisi chang | global | econom govern wake devast global |
| econom | talk financi crisi chang global | econom | govern wake devast global conflict |
| global | global econom govern wake devast | global | conflict countri world came togeth |
| countri | govern wake devast global conflict | countri | world came togeth creat durabl |
| econom | postwar institut secur peac promot | econom | cooper time institut deliv idea |
| economi | took hold knew manag develop | economi | simpl doctrin gradual emerg compris |
| market | rule fiscal monetari underpin idea | market | infal heyday deregul least advanc |
| economi | infal heyday deregul least advanc | economi | other emerg poor countri would |
| countri | advanc economi other emerg poor | countri | would gradual embrac appear sound |
| growth | consensus world chang signific rapid | growth | emerg develop economi redefin balanc |
| economi | signific rapid growth emerg develop | economi | redefin balanc econom power global |
| econom | emerg develop economi redefin balanc | econom | power global financi crisi swept |
| global | economi redefin balanc econom power | global | financi crisi swept away much |
| econom | crisi swept away much old | econom | order today effect crisi far |
| need | ever without wait calm restor | need | start rebuild govern structur time |
| global | time tripl comeback first comeback | global | econom governancein sens global financi |
| econom | tripl comeback first comeback global | econom | governancein sens global financi crisi |
| global | comeback global econom governancein sens | global | financi crisi trace bad govern |
| global | trace bad govern landscap familiar | global | growth model turn unbalanc unsustain |
| growth | bad govern landscap familiar global | growth | model turn unbalanc unsustain reli |
| countri | unsustain reli much excess borrow | countri | made possibl excess save other |
| countri | possibl excess save other mani | countri | also saw larg increas inequ |
| also | excess save other mani countri | also | saw larg increas inequ tug |
| global | inequ eve crisi back prior | global | financi crisi shatter illus stabil |
| econom | boundless optim rise asset price | econom | fortun financi institut took unpreced |
| market | bought cultur deregul belief financi | market | could polic effect bad news |
| global | effect bad news good news | global | govern renew crisi led g |
| countri | govern renew crisi led g | countri | came togeth face common challeng |
| global | common challeng common solut focus | global | common good saw monetari polici |
| polici | global common good saw monetari | polici | coordin interest rate cut swap |
| polici | bank decis adopt unconvent monetari | polici | measur also saw fiscal polici |
| also | adopt unconvent monetari polici measur | also | saw fiscal polici countri fiscal |
| polici | polici measur also saw fiscal | polici | countri fiscal space deliv percent |
| countri | measur also saw fiscal polici | countri | fiscal space deliv percent gdp |
| global | fiscal space deliv percent gdp | global | fiscal stimulus imf advis thus |
| global | women abl work togeth tackl | global | danger crisi also prompt financi |
| also | togeth tackl global danger crisi | also | prompt financi sector reform awar |
| need | fail greek irish experi reveal | need | crisi resolut tool littl done |
| econom | see power move toward better | econom | govern wake crisi govern role |
| global | restor financi sector stabil attest | global | level new govern emerg second |
| global | emerg second comeback imf center | global | governancefrom davo januari london april |
| growth | time predict much larger drop | growth | mani anticip doubt imf institut |
| also | warn alarm necessari prop demand | also | essenti cover bank system loss |
| financ | face realiti one voic g | financ | minist critic fund claim pessimist |
| growth | minist critic fund claim pessimist | growth | would hold know economi better |
| economi | pessimist growth would hold know | economi | better refrain first global respons |
| global | know economi better refrain first | global | respons crisi occur earli octob |
| also | europ china unit state brazil | also | wherev bank system affect primarili |
| financ | europ restructur plan drawn necessari | financ | provid second respons came g |
| growth | april london longer enough support | growth | repair bank system countri difficulti |
| countri | support growth repair bank system | countri | difficulti help imf resourc tripl |
| countri | brown keep commit made african | countri | two week earlier imf confer |
| countri | ton fund gold help poorest | countri | sourc fund interestfre loan made |
| countri | sure least part respons african | countri | chang attitud toward imf work |
| polici | member group account one implement | polici | need achiev better global outcom |
| need | group account one implement polici | need | achiev better global outcom map |
| global | implement polici need achiev better | global | outcom map base idea domest |
| global | map base idea domest solut | global | problem cooper essenti manag econom |
| econom | global problem cooper essenti manag | econom | butterfli effect magnifi impact nation |
| polici | butterfli effect magnifi impact nation | polici | reverber around global economi process |
| global | impact nation polici reverber around | global | economi process spearhead g support |
| economi | nation polici reverber around global | economi | process spearhead g support imf |
| also | comment head state govern understand | also | behind spillov report imf produc |
| economi | report imf produc five system | economi | china euro area japan uk |
| polici | uk us report assess impact | polici | economi rest world explor power |
| economi | us report assess impact polici | economi | rest world explor power econom |
| econom | economi rest world explor power | econom | financi interlinkag transmit also decid |
| also | power econom financi interlinkag transmit | also | decid make financi sector assess |
| countri | sector assess program mandatori system | countri | past program pure voluntari among |
| countri | program pure voluntari among larg | countri | unit state china particip seoul |
| need | crisi far acut phase crisi | need | cooper obvious first g summit |
| countri | leader awar immin disast one | countri | tri stand apart other common |
| global | good easili trump nation interest | global | economi mend temptat leader focus |
| economi | easili trump nation interest global | economi | mend temptat leader focus domest |
| global | map spillov report work ask | global | imbal believ g deliv fund |
| countri | substanti import use fund respons | countri | hardest hit need help mind |
| need | fund respons countri hardest hit | need | help mind lesson drawn program |
| economi | urgent problem fix everyth wrong | economi | import take full account possibl |
| countri | take full account possibl affect | countri | histor polit context provid support |
| also | committe imfc imf govern bodi | also | ask fund review instrument creat |
| countri | line provid conting support allow | countri | free resourc product use would |
| need | resourc product use would longer | need | hold larg reserv measur financi |
| global | mark imf return key element | global | govern reflect imf return origin |
| market | missiona new balanc arisen regul | market | imf role macroeconom macro financi |
| market | arena idea possibl reli sole | market | ensur strong sustain growth lost |
| growth | sole market ensur strong sustain | growth | lost credibl crisi show wrong |
| also | lost credibl crisi show wrong | also | show public sector key role |
| need | appli new rule financi sector | need | supervis afraid say power interest |
| need | supervis afraid say power interest | need | comprehens macroprudenti framework monitor system |
| also | macroprudenti framework monitor system risk | also | need coher resolut mechan domest |
| need | framework monitor system risk also | need | coher resolut mechan domest across |
| economi | fair share cost risktak impos | economi | imf propos tax financi activ |
| econom | must play key role renew | econom | govern mandat need adapt chang |
| need | role renew econom govern mandat | need | adapt chang global economi task |
| global | govern mandat need adapt chang | global | economi task redefin fund mandat |
| economi | mandat need adapt chang global | economi | task redefin fund mandat amend |
| econom | found father envis adapt new | econom | order must aim renew legitimaci |
| countri | imf member g legitim exclud | countri | repres third world popul recent |
| market | percent quota share dynam emerg | market | countri brazil china india russia |
| countri | quota share dynam emerg market | countri | brazil china india russia among |
| countri | ten sharehold vote share poorest | countri | protect essenti rich nation european |
| countri | protect essenti rich nation european | countri | top list made rebalanc possibl |
| countri | rebalanc possibl moreov advanc european | countri | give two seat execut board |
| need | pave way progress envis ultim | need | closer align composit expand g |
| countri | closer align composit expand g | countri | imfc repres constitu fund member |
| global | would provid solid foundat new | global | econom govern may even necessari |
| econom | provid solid foundat new global | econom | govern may even necessari g |
| global | surviv seek build new framework | global | cooper need rememb achiev higher |
| need | build new framework global cooper | need | rememb achiev higher sustain growth |
| growth | need rememb achiev higher sustain | growth | foster democraci ultim secur peac |
| econom | wood peac foremost mind seen | econom | conflict interwar year devolv militari |
| global | imf charg find cooper solut | global | econom problem face similar challeng |
| econom | charg find cooper solut global | econom | problem face similar challeng today |
| econom | face similar challeng today past | econom | financi problem worsen upset social |
| global | degener war civil foreign renew | global | econom govern make effect legitim |
| econom | war civil foreign renew global | econom | govern make effect legitim effect |
| countri | hold time fiscal imbal certain | countri | threaten global equilibrium time accumul |
| global | fiscal imbal certain countri threaten | global | equilibrium time accumul extern surplus |
| growth | communiti must choos seek new | growth | model new world choos inertia |
| growth | ground yet anoth crisi new | growth | model requir new govern model |
| countri | two topic challeng face lowincom | countri | advanc economi intern organ best |
| economi | challeng face lowincom countri advanc | economi | intern organ best support good |
| countri | best support good news lowincom | countri | weather global financi crisi much |
| global | good news lowincom countri weather | global | financi crisi much better might |
| growth | expect judg experi past crise | growth | stay posit twothird lowincom countri |
| countri | growth stay posit twothird lowincom | countri | thank part robust countercycl polici |
| polici | countri thank part robust countercycl | polici | respons econom growth lowincom countri |
| econom | part robust countercycl polici respons | econom | growth lowincom countri subsaharan africa |
| growth | robust countercycl polici respons econom | growth | lowincom countri subsaharan africa held |
| countri | polici respons econom growth lowincom | countri | subsaharan africa held especi well |
| market | ½ percent second asian emerg | market | economi countri imfsponsor program near |
| economi | percent second asian emerg market | economi | countri imfsponsor program near percent |
| countri | second asian emerg market economi | countri | imfsponsor program near percent increas |
| countri | real spend compar twothird nonprogram | countri | major reason resili lic face |
| global | major reason resili lic face | global | downturn posit relat strength crisi |
| growth | relat strength crisi saw strong | growth | macroeconom stabil lowincom countri driven |
| countri | strong growth macroeconom stabil lowincom | countri | driven main good homegrown polici |
| polici | countri driven main good homegrown | polici | help support intern environ debt |
| polici | mani lic abl implement countercycl | polici | henc posit much rapid recoveri |
| also | rapid recoveri past crise unfortun | also | news good come top food |
| global | come top food fuel crisi | global | financi crisi slow poverti reduct |
| global | lost ground everyth hing restor | global | growth main task advanc major |
| growth | ground everyth hing restor global | growth | main task advanc major emerg |
| economi | main task advanc major emerg | economi | given recoveri lic project follow |
| global | hold key achiev better outcom | global | economi base analysi find cooper |
| economi | key achiev better outcom global | economi | base analysi find cooper could |
| global | analysi find cooper could boost | global | gdp trillion five year creat |
| countri | million peopl poverti must develop | countri | princip object restor strong growth |
| growth | countri princip object restor strong | growth | make resili futur shock rebuild |
| polici | resili futur shock rebuild necessari | polici | buffer done way still allow |
| market | domest save develop local financi | market | would also help make economi |
| also | develop local financi market would | also | help make economi shock resili |
| economi | market would also help make | economi | shock resili foster privat sector |
| economi | foster privat sector activ advanc | economi | ralli cri remain aid trade |
| countri | trade despit tough fiscal condit | countri | everi effort made meet aid |
| countri | includ made africa gleneagl advanc | countri | also redoubl effort help fragil |
| also | made africa gleneagl advanc countri | also | redoubl effort help fragil state |
| economi | greater financi technic assist advanc | economi | also support trade dismantl wall |
| also | financi technic assist advanc economi | also | support trade dismantl wall still |
| countri | wall still block export poorer | countri | hold great potenti unleash wave |
| growth | great potenti unleash wave product | growth | economiesfour part imf commit support |
| countri | part imf commit support lowincom | countri | member effort focus three major |
| polici | effort focus three major area | polici | advic technic assist financi support |
| polici | technic assist financi support area | polici | advic fund process strengthen aspect |
| countri | beef monitor vulner face lowincom | countri | includ analysi spillov world largest |
| economi | includ analysi spillov world largest | economi | lic also look close opportun |
| also | spillov world largest economi lic | also | look close opportun challeng aris |
| econom | challeng aris grow role bric | econom | develop poorer countri turn financ |
| countri | role bric econom develop poorer | countri | turn financ major develop sinc |
| financ | econom develop poorer countri turn | financ | major develop sinc crisi concession |
| polici | made lend program flexibl streamlin | polici | condit support countercycl fiscal polici |
| polici | polici condit support countercycl fiscal | polici | introduc flexibl approach debt advoc |
| countri | assist revamp lend facil develop | countri | capac build one imf core |
| countri | ta goe lowincom lowermiddl incom | countri | effort area focus core expertis |
| polici | area focus core expertis macroeconom | polici | manag exchang rate system financi |
| econom | financi sector stabil legisl framework | econom | financi statist financi support donor |
| also | financi support donor scale ta | also | improv relev effect sustain european |
| polici | region well trust fund tax | polici | administr manag natur resourc wealth |
| econom | resourc wealth let conclud word | econom | govern last month member approv |
| market | percent quota share dynam emerg | market | develop countri protect vote share |
| countri | share dynam emerg market develop | countri | protect vote share poorest member |
| economi | poorest member reform largest emerg | economi | brazil china india russia among |
| also | russia among top ten sharehold | also | reshuffl represent execut board better |
| global | execut board better reflect today | global | econom realiti moment chang would |
| econom | board better reflect today global | econom | realiti moment chang would possibl |
| countri | collabor imf europ interest lowincom | countri | member support healthi global economi |
| global | lowincom countri member support healthi | global | economi thank kind attent |
| economi | countri member support healthi global | economi | thank kind attent |
| econom | honor part distinguish panel chief | econom | advis basu chairman nilekani governor |
| polici | larg part sound macroeconom financi | polici | india growth amongst highest world |
| growth | sound macroeconom financi polici india | growth | amongst highest world make drive |
| global | highest world make drive forc | global | recoveri india travel remark distanc |
| growth | remark distanc last generat rapid | growth | lift hundr million poverti innov |
| econom | advanc nation india truli becom | econom | superpow time come india asia |
| global | asia general play right role | global | framework econom govern look forward |
| econom | play right role global framework | econom | govern look forward explor theme |
| global | speak briefli three topic state | global | recoveri progress reform financi sector |
| polici | progress reform financi sector intern | polici | cooper global recoveri global recoveri |
| global | financi sector intern polici cooper | global | recoveri global recoveri move along |
| global | intern polici cooper global recoveri | global | recoveri move along fragil uneven |
| economi | move along fragil uneven advanc | economi | high unemploy weak household balanc |
| growth | household balanc sheet sluggish credit | growth | hold back privat demand outlook |
| economi | outlook differ mani emerg develop | economi | strong intern demand rebound global |
| global | economi strong intern demand rebound | global | trade power robust recoveri especi |
| market | risk renew turbul sovereign debt | market | could spill real economi across |
| economi | debt market could spill real | economi | across region investor sentiment europ |
| financ | capit would add pressur public | financ | could trigger renew loss market |
| market | financ could trigger renew loss | market | confid final breakdown global cooper |
| global | loss market confid final breakdown | global | cooper could undermin recoveri polici |
| polici | global cooper could undermin recoveri | polici | prioriti today advanc economi fragil |
| economi | recoveri polici prioriti today advanc | economi | fragil recoveri call polici remain |
| polici | advanc economi fragil recoveri call | polici | remain support possibl growth economi |
| growth | call polici remain support possibl | growth | economi stall especi u still |
| economi | polici remain support possibl growth | economi | stall especi u still account |
| global | especi u still account quarter | global | economi consequ rest world could |
| economi | u still account quarter global | economi | consequ rest world could serious |
| economi | could serious public debt advanc | economi | high burden support fall monetari |
| polici | high burden support fall monetari | polici | interest rate alreadi low less |
| also | low less convent measur may | also | need u exampl fed recent |
| need | less convent measur may also | need | u exampl fed recent announc |
| global | cours fed action carri implic | global | economi address issu capit flow |
| economi | fed action carri implic global | economi | address issu capit flow short |
| global | short import collabor approach rebalanc | global | economi time advanc economi must |
| economi | import collabor approach rebalanc global | economi | time advanc economi must make |
| economi | rebalanc global economi time advanc | economi | must make faster progress repair |
| market | reform make labor product servic | market | also critic especi europ restor |
| also | make labor product servic market | also | critic especi europ restor confid |
| financ | restor confid longterm sustain public | financ | clear top prioriti public debt |
| economi | top prioriti public debt advanc | economi | project reach stagger percent gdp |
| need | credibl mediumterm plan fiscal consolid | need | urgent reassur market inde one |
| market | fiscal consolid need urgent reassur | market | inde one princip lesson crisi |
| econom | valu fiscal space abl cushion | econom | impact crisi india commit ambiti |
| polici | import let turn one major | polici | challeng face emerg economi surg |
| economi | major polici challeng face emerg | economi | surg capit inflow whole capit |
| economi | whole capit flow benefici receiv | economi | especi driven growth prospect rather |
| growth | benefici receiv economi especi driven | growth | prospect rather shortterm cyclic factor |
| economi | factor india rapid grow emerg | economi | foreign capit help top domest |
| market | top domest save promot financi | market | develop india seek trillion financ |
| financ | market develop india seek trillion | financ | critic infrastructur project foreign capit |
| polici | even use capit inflow bring | polici | challeng come fast exceed absorpt |
| economi | come fast exceed absorpt capac | economi | disrupt effect could includ toorapid |
| countri | earli introduct countercycl macroprudenti measur | countri | recogn essenti instrument protect financi |
| countri | billion last year percent gdp | countri | face surg capit inflow cri |
| also | flow stimul invest especi infrastructur | also | point recycl surplus save invest |
| global | medium term best achiev strong | global | growth rebalanc global demand hold |
| growth | term best achiev strong global | growth | rebalanc global demand hold key |
| global | achiev strong global growth rebalanc | global | demand hold key economi excess |
| economi | rebalanc global demand hold key | economi | excess extern deficit public privat |
| economi | public privat save must increas | economi | excess current account surplus includ |
| need | includ mani asia domest demand | need | increas stronger financi safeti net |
| market | stronger financi safeti net financi | market | develop promot shift extern intern |
| economi | extern intern demand mani emerg | economi | includ china currenc appreci also |
| also | economi includ china currenc appreci | also | import part solut final structur |
| countri | final structur reform remain essenti | countri | rais product boost growth let |
| growth | essenti countri rais product boost | growth | let turn briefli financi sector |
| global | alreadi done achiev farreach reform | global | bank regul basel iii accord |
| need | accord yet far type supervis | need | actual implement regul end day |
| also | even best rulebook world useless | also | still long way go resolut |
| need | hazard crossbord issu even work | need | develop framework monitor risk relat |
| market | monitor risk relat financi institut | market | real economi interact call macroprudenti |
| economi | relat financi institut market real | economi | interact call macroprudenti framework intern |
| polici | interact call macroprudenti framework intern | polici | cooper last topic d like |
| polici | topic d like address intern | polici | cooper crisi repres first phase |
| global | repres first phase new approach | global | econom govern concert polici action |
| econom | first phase new approach global | econom | govern concert polici action across |
| polici | approach global econom govern concert | polici | action across globe help avert |
| econom | globe help avert much greater | econom | ultim human disast key lesson |
| global | human disast key lesson today | global | economi domest solut global problem |
| economi | disast key lesson today global | economi | domest solut global problem enter |
| global | today global economi domest solut | global | problem enter second challeng phase |
| econom | problem enter second challeng phase | econom | govern larg disrupt adjust exchang |
| countri | rate capit flow put pressur | countri | talk currenc war rais specter |
| polici | currenc war rais specter beggarthyneighbor | polici | prove devast great depress remain |
| global | devast great depress remain optimist | global | cooper prevail end let mention |
| global | intern cooper cement histor advanc | global | econom govern emerg g clear |
| econom | cooper cement histor advanc global | econom | govern emerg g clear chang |
| countri | g clear chang rule game | countri | account percent global economi work |
| global | rule game countri account percent | global | economi work togeth regular polici |
| economi | game countri account percent global | economi | work togeth regular polici forum |
| polici | global economi work togeth regular | polici | forum govern reform intern financi |
| countri | power percent dynam emerg develop | countri | reform place imf ten largest |
| polici | second reason concret mechan intern | polici | cooper g mutual assess process |
| polici | process forward map g identifi | polici | need countri achiev strong sustain |
| need | forward map g identifi polici | need | countri achiev strong sustain balanc |
| countri | map g identifi polici need | countri | achiev strong sustain balanc growth |
| growth | countri achiev strong sustain balanc | growth | map also shown global polici |
| also | strong sustain balanc growth map | also | shown global polici cooper deliv |
| global | balanc growth map also shown | global | polici cooper deliv signific tangibl |
| polici | growth map also shown global | polici | cooper deliv signific tangibl benefit |
| polici | tangibl benefit upsid scenario strong | polici | implement could global gdp trillion |
| global | scenario strong polici implement could | global | gdp trillion higher next five |
| global | fewer peopl poverti seek strengthen | global | framework econom govern make legitim |
| econom | poverti seek strengthen global framework | econom | govern make legitim credibl henc |
| econom | credibl henc effect look rise | econom | power support also idea let |
| also | look rise econom power support | also | idea let mention two power |
| countri | success stori hold import lesson | countri | first focus inclus growth india |
| growth | lesson countri first focus inclus | growth | india goal simpli growth rapid |
| growth | inclus growth india goal simpli | growth | rapid growth also inclus improv |
| growth | india goal simpli growth rapid | growth | also inclus improv qualiti life |
| also | goal simpli growth rapid growth | also | inclus improv qualiti life citizen |
| polici | citizen india govern seek best | polici | achiev dual goal fortun advis |
| econom | strong academ credenti posit chief | econom | advis second technolog advanc india |
| countri | meteor rise servic sector inspir | countri | clear india commit excel higher |
| growth | entrepreneuri spirit two featur indian | growth | miracl come togeth uniqu identif |
| need | vulner indian better abl reach | need | costeffect uid also advanc financi |
| also | abl reach need costeffect uid | also | advanc financi inclus play critic |
| global | summar key messag today sustain | global | recoveri must whatev take support |
| growth | recoveri must whatev take support | growth | advanc economi downsid risk simpli |
| economi | whatev take support growth advanc | economi | downsid risk simpli great economi |
| economi | economi downsid risk simpli great | economi | world whole mean effort resolv |
| financ | crisi put back burner public | financ | must put sustain foot credibl |
| need | plan financi sector repair reform | need | move faster financi institut support |
| polici | final must continu deepen intern | polici | cooper crisi show work togeth |
| econom | underpin cooper new stronger framework | econom | govern world look asia play |
| global | look asia play right role | global | effort rise econom power come |
| econom | right role global effort rise | econom | power come rise respons help |
| global | come rise respons help resolv | global | econom challeng ultim deepen intern |
| econom | rise respons help resolv global | econom | challeng ultim deepen intern engag |
| global | framework deliv strong balanc sustain | global | growth india econom dynam strong |
| growth | deliv strong balanc sustain global | growth | india econom dynam strong democrat |
| econom | balanc sustain global growth india | econom | dynam strong democrat tradit play |
| global | cover three broad point start | global | outlook consid implic asean economi |
| economi | global outlook consid implic asean | economi | focus particular prospect global demand |
| global | asean economi focus particular prospect | global | demand rebalanc result challeng macroeconom |
| economi | manag region nutshel expect asean | economi | continu robust growth multispe global |
| growth | expect asean economi continu robust | growth | multispe global recoveri proceed polici |
| global | economi continu robust growth multispe | global | recoveri proceed polici challeng emerg |
| polici | growth multispe global recoveri proceed | polici | challeng emerg earlier year becom |
| polici | press time come exit accommod | polici | pace consist healthi privat domest |
| growth | consist healthi privat domest demand | growth | time capit inflow need manag |
| need | demand growth time capit inflow | need | manag care shortterm also mediumterm |
| also | inflow need manag care shortterm | also | mediumterm view facilit econom rebalanc |
| econom | shortterm also mediumterm view facilit | econom | rebalanc global outlook multispe recoveri |
| global | mediumterm view facilit econom rebalanc | global | outlook multispe recoveri shift gear |
| global | outlook multispe recoveri shift gear | global | recoveri advanc despit setback financi |
| global | suggest pace recoveri slow includ | global | trade flow industri product howev |
| economi | flow industri product howev emerg | economi | especi asia remain lead countri |
| countri | economi especi asia remain lead | countri | activ moder except pace set |
| economi | first half year contrast advanc | economi | unemploy remain high household consumpt |
| growth | strengthen privat domest demand support | growth | polici stimulus inventori rebuild fade |
| polici | privat domest demand support growth | polici | stimulus inventori rebuild fade proceed |
| economi | forecast percent next year advanc | economi | would expand percent year low |
| growth | particular japan euro area contrast | growth | emerg develop economi moder second |
| economi | area contrast growth emerg develop | economi | moder second half would still |
| economi | remain general subdu except emerg | economi | advanc economi core inflat slow |
| economi | subdu except emerg economi advanc | economi | core inflat slow less percent |
| econom | inflat slow less percent consider | econom | slack deflat may pertin risk |
| economi | deflat may pertin risk emerg | economi | headlin inflat expect subsid percent |
| economi | stabil howev inflationari pressur elev | economi | less stabl inflat past oper |
| global | closer capac india exampl momentum | global | activ slow downsid risk recoveri |
| economi | remain weak across number advanc | economi | coupl question fiscal sustain recoveri |
| market | fiscal sustain recoveri real estat | market | key risk turbul advanc sovereign |
| market | risk turbul advanc sovereign debt | market | could trigger unsuccess debt rollov |
| market | event could creat renew financi | market | disloc interrupt transit toward stronger |
| economi | privatel demand mark slowdown advanc | economi | togeth heighten global risk avers |
| global | slowdown advanc economi togeth heighten | global | risk avers would quick spread |
| economi | would quick spread develop emerg | economi | advers feedback loop real financi |
| market | way provid necessari support address | market | risk anoth risk outlook stem |
| market | possibl renew weak key properti | market | includ u foreclosur backlog larg |
| economi | backlog larg grow background advanc | economi | must begin implement credibl mediumterm |
| market | crowd privat demand hand emerg | market | economi face risk overh larg |
| economi | privat demand hand emerg market | economi | face risk overh larg capit |
| global | final without success effort rebalanc | global | demand risk protection would also |
| also | global demand risk protection would | also | like rise outlook asean implic |
| economi | asean implic asean outlook asean | economi | particular emerg one grow vigor |
| growth | main reflect challeng outlook export | growth | final demand advanc economi unlik |
| economi | export growth final demand advanc | economi | unlik return precrisi rate china |
| growth | becom import engin extern demand | growth | asean economi still small market |
| economi | engin extern demand growth asean | economi | still small market comparison larg |
| market | growth asean economi still small | market | comparison larg advanc economi especi |
| economi | small market comparison larg advanc | economi | especi consum good said chines |
| growth | indonesia set benefit domest demand | growth | china outlook export relat subdu |
| economi | relat subdu domest demand asean | economi | maintain robust pace expans strong |
| market | robust pace expans strong labor | market | condit consum confid point healthi |
| growth | confid point healthi privat consumpt | growth | across part region even absenc |
| polici | across part region even absenc | polici | stimulus philippin privat consumpt boost |
| also | close full capac privat invest | also | maintain healthi growth bank credit |
| growth | privat invest also maintain healthi | growth | bank credit growth turn corner |
| growth | maintain healthi growth bank credit | growth | turn corner lend spread eas |
| also | spread eas domest financi condit | also | remain favor invest said moder |
| growth | favor invest said moder export | growth | increas uncertainti surround global recoveri |
| global | export growth increas uncertainti surround | global | recoveri might induc moder invest |
| global | risk outlook still downsid pertain | global | recoveri econom fundament region general |
| econom | still downsid pertain global recoveri | econom | fundament region general strong import |
| economi | rest world would make asian | economi | expos downsid risk advanc economi |
| economi | economi expos downsid risk advanc | economi | slowdown describ exampl final demand |
| economi | ad produc smaller open asean | economi | therefor one percentag point declin |
| growth | subtract percentag point averag gdp | growth | across region within asia abrupt |
| econom | region within asia abrupt slowdown | econom | activ china constitut signific tail |
| economi | point continu robust activ chines | economi | abrupt slowdown happen would reverber |
| financ | would increas deterior local public | financ | bank sector asset qualiti credit |
| also | stimulus program turn greater envisag | also | increas inflat pressur reveal china |
| also | larg result food price increas | also | due rise hous cost agre |
| need | stimulus china rise inflat underlin | need | continu tighten monetari condit interest |
| also | rate tool addit good case | also | begin withdraw fiscal stimulus reorient |
| polici | rais household incom boost consumpt | polici | challeng key polici challeng uncertain |
| polici | boost consumpt polici challeng key | polici | challeng uncertain multispe global environ |
| global | key polici challeng uncertain multispe | global | environ would like highlight two |
| polici | challeng manag time scale exit | polici | stimulus complic challeng manag capit |
| global | rebalanc measur baselin scenario continu | global | recoveri robust growth region normal |
| growth | scenario continu global recoveri robust | growth | region normal monetari fiscal polici |
| polici | growth region normal monetari fiscal | polici | condit began earlier year far |
| growth | liquid measur differ broad money | growth | nomin output growth declin remain |
| growth | broad money growth nomin output | growth | declin remain precrisi level also |
| also | growth declin remain precrisi level | also | twodecad averag likewis real polici |
| polici | also twodecad averag likewis real | polici | rate still consider precrisi level |
| economi | precrisi level estim suggest asean | economi | except malaysia still well level |
| also | measur resourc util increas tight | also | risk secondround effect spike food |
| also | accommod monetari condit long could | also | lead asset price inflat although |
| economi | increas hous price number asian | economi | per se evid general hous |
| polici | exchang rate flexibl import compon | polici | tighten recent capit inflow pressur |
| polici | stronger currenc would conduc normal | polici | stanc would also effect manag |
| also | conduc normal polici stanc would | also | effect manag volatil capit inflow |
| polici | manag volatil capit inflow fiscal | polici | also play role make overal |
| also | volatil capit inflow fiscal polici | also | play role make overal macroeconom |
| polici | play role make overal macroeconom | polici | stanc less accommod countercycl fiscal |
| polici | stanc less accommod countercycl fiscal | polici | also help buffer domest demand |
| also | less accommod countercycl fiscal polici | also | help buffer domest demand impact |
| economi | dampen currenc appreci said asean | economi | debt sustain press concern thus |
| econom | pace consolid light downsid risk | econom | outlook time number economi region |
| economi | risk econom outlook time number | economi | region need reorient composit fiscal |
| need | outlook time number economi region | need | reorient composit fiscal spend within |
| economi | infrastructur gap remain sizabl sever | economi | emerg asia mean infrastructur invest |
| polici | summar view appropri exit accommod | polici | let say time polici stanc |
| polici | accommod polici let say time | polici | stanc normal across region recoveri |
| global | well establish emerg asia lead | global | recoveri far polici maker manag |
| polici | asia lead global recoveri far | polici | maker manag effect balanc macroeconom |
| economi | downsid risk materi go forward | economi | region ampl room eas polici |
| polici | economi region ampl room eas | polici | still need care manag exit |
| need | ampl room eas polici still | need | care manag exit polici stimulus |
| polici | still need care manag exit | polici | stimulus depend countrycircumst overal polici |
| polici | polici stimulus depend countrycircumst overal | polici | prioriti increas focus mediumterm requir |
| global | focus mediumterm requir aim rebalanc | global | demand involv intern rebalanc advanc |
| economi | demand involv intern rebalanc advanc | economi | anchor shift public privatedemandl growth |
| growth | economi anchor shift public privatedemandl | growth | extern rebalanc underpin increas net |
| countri | export advanc current account deficit | countri | decreas net export emerg surplus |
| economi | decreas net export emerg surplus | economi | issu global imbal somewhat forgotten |
| global | export emerg surplus economi issu | global | imbal somewhat forgotten global econom |
| global | issu global imbal somewhat forgotten | global | econom crisi recent concern currenc |
| econom | global imbal somewhat forgotten global | econom | crisi recent concern currenc war |
| countri | cooper critic promot extern sustain | countri | support pursuit full rang polici |
| polici | countri support pursuit full rang | polici | conduc reduc excess imbal maintain |
| economi | account imbal sustain level advanc | economi | must expediti repair reform financi |
| need | intern rebalanc would help reduc | need | high accommod monetari polici stanc |
| polici | reduc need high accommod monetari | polici | stanc economi contribut negat spillov |
| economi | high accommod monetari polici stanc | economi | contribut negat spillov form larg |
| economi | larg volatil capit inflow emerg | economi | associ risk overh advanc economi |
| economi | economi associ risk overh advanc | economi | also put place begin implement |
| also | associ risk overh advanc economi | also | put place begin implement credibl |
| global | demand part plan consolid begin | global | growth slow appreci expect countri |
| growth | part plan consolid begin global | growth | slow appreci expect countri fiscal |
| countri | global growth slow appreci expect | countri | fiscal room could postpon plan |
| economi | key emerg current account surplus | economi | includ asia strategi promot exportl |
| growth | includ asia strategi promot exportl | growth | becom less viabl multilater viewpoint |
| countri | multilater viewpoint eventu caus tension | countri | compet share global demand realloc |
| global | caus tension countri compet share | global | demand realloc demand extern sector |
| economi | sector may initi pain sector | economi | lead sizabl sustain gain live |
| growth | live standard mediumterm success shift | growth | toward privat domest demand would |
| countri | simultan implement packag measur depend | countri | circumst packag would includ continu |
| need | nontrad sector order measur effect | need | undertaken wide coordin global player |
| global | effect need undertaken wide coordin | global | player mani emerg economi asia |
| economi | coordin global player mani emerg | economi | asia elsewher also face difficult |
| also | mani emerg economi asia elsewher | also | face difficult polici challeng manag |
| polici | asia elsewher also face difficult | polici | challeng manag larg volatil capit |
| global | discuss greater detail tomorrow context | global | demand rebalanc flow view opportun |
| growth | opportun facilit adjust toward broaderbas | growth | hindranc said manag larg inflow |
| market | exchang rate flexibl major emerg | market | economi appropri respons need base |
| economi | rate flexibl major emerg market | economi | appropri respons need base whether |
| need | emerg market economi appropri respons | need | base whether capit inflow assess |
| global | fund would like conclud remark | global | rebalanc say action announc g |
| polici | play import role strengthen intern | polici | framework help sustain global econom |
| global | intern polici framework help sustain | global | econom recoveri number decis summit |
| econom | polici framework help sustain global | econom | recoveri number decis summit imf |
| economi | spillov report wider impact system | economi | polici second g welcom strengthen |
| polici | report wider impact system economi | polici | second g welcom strengthen imf |
| global | credit line play keyrol enhanc | global | financi safeti net fund also |
| also | global financi safeti net fund | also | readi deepen work aspect intern |
| countri | assess program imf world bank | countri | system import financi sector final |
| market | bring greater represent dynam emerg | market | develop countri includ mani asean |
| countri | represent dynam emerg market develop | countri | includ mani asean member conclus |
| economi | asean member conclus sum asean | economi | set continu robust growth prospect |
| growth | asean economi set continu robust | growth | prospect strong extern demand challeng |
| polici | challeng given sluggish recoveri dwindl | polici | space advanc economi moreov multispe |
| economi | recoveri dwindl polici space advanc | economi | moreov multispe recoveri proceed polici |
| polici | economi moreov multispe recoveri proceed | polici | challeng emerg earlier year becom |
| polici | press time come exit accommod | polici | pace consist healthi privat domest |
| growth | consist healthi privat domest demand | growth | time capit inflow need manag |
| need | demand growth time capit inflow | need | manag care shortterm also mediumterm |
| also | inflow need manag care shortterm | also | mediumterm view facilit econom rebalanc |
| econom | shortterm also mediumterm view facilit | econom | rebalanc imf look forward work |
| also | import issu final mention fund | also | strengthen link region financi safeti |
| econom | deliveryit great pleasur opportun particip | econom | club new yorksponsor seri mani |
| global | year benefit chanc hear direct | global | leader distinguish speaker econom club |
| econom | direct global leader distinguish speaker | econom | club event sever year left |
| econom | hopkin leadership promot thought debat | econom | issu innov new format one |
| global | summit focus remark today state | global | polici cooper consensus view least |
| polici | focus remark today state global | polici | cooper consensus view least judg |
| global | judg financi press report seoul | global | polici cooper fractur best worst |
| polici | financi press report seoul global | polici | cooper fractur best worst becom |
| polici | g author exchang rate monetari | polici | capit flow phrase beggarthyneighbor heard |
| global | headlin would suggest claim process | global | polici cooper remain aliv relev |
| polici | would suggest claim process global | polici | cooper remain aliv relev even |
| global | even though specif characterist current | global | recoveri make process complex mani |
| global | complex mani way challeng case | global | crisi explod late earli inde |
| global | deliv collabor coher consist approach | global | polici formul under incent cooper |
| polici | collabor coher consist approach global | polici | formul under incent cooper clear |
| econom | success collabor stronger sustain betterbalanc | econom | growth togeth reduc risk negat |
| growth | collabor stronger sustain betterbalanc econom | growth | togeth reduc risk negat surpris |
| econom | member let begin brief review | econom | context know outlook remain challeng |
| global | context know outlook remain challeng | global | recoveri continu advanc remain uneven |
| economi | remain uneven across world advanc | economi | somewhat fragil high unemploy mani |
| countri | somewhat fragil high unemploy mani | countri | major econom problem also sourc |
| econom | high unemploy mani countri major | econom | problem also sourc social tension |
| also | mani countri major econom problem | also | sourc social tension heighten pressur |
| polici | sourc social tension heighten pressur | polici | maker produc rapid progress result |
| market | result uncertainti help keep financi | market | edg highprofil sovereign bank sector |
| market | contrast appeal perform mani emerg | market | economi attract renew strong investor |
| economi | appeal perform mani emerg market | economi | attract renew strong investor interest |
| econom | central scenario imf latest world | econom | outlook forecast anticip sustain albeit |
| global | forecast anticip sustain albeit moder | global | recoveri outlook cloud sever downsid |
| market | renew turbul european sovereign debt | market | could spill real economi across |
| economi | debt market could spill real | economi | across region higher fund cost |
| financ | would creat addit pressur public | financ | could trigger new weaken market |
| market | financ could trigger new weaken | market | confid failur reduc high unemploy |
| economi | could undermin consum confid advanc | economi | slow consum spend weaken global |
| global | economi slow consum spend weaken | global | growth outlook sever major emerg |
| growth | slow consum spend weaken global | growth | outlook sever major emerg economi |
| economi | growth outlook sever major emerg | economi | enjoy rapid growth worri emerg |
| growth | major emerg economi enjoy rapid | growth | worri emerg acceler inflat asset |
| polici | situat phase two phase one | polici | prescript general similar across nation |
| polici | board phase two circumst vari | polici | prioriti thus central tenant success |
| polici | prioriti thus central tenant success | polici | collabor less certain perceiv need |
| need | polici collabor less certain perceiv | need | act alacr simultan less acut |
| polici | today current circumst inevit process | polici | collabor appear less clearcut previous |
| polici | result strengthen analyt organiz underpin | polici | cooper even polit becam challeng |
| global | g process help creat new | global | approach econom financi policymak outcom |
| econom | help creat new global approach | econom | financi policymak outcom includ better |
| econom | financi policymak outcom includ better | econom | result lest think sophistri would |
| global | three key area macroeconom policymak | global | financi safeti net financi sector |
| polici | policiesin basic area set macroeconom | polici | notabl develop world largest economi |
| economi | polici notabl develop world largest | economi | creat concret mechan guid fundament |
| econom | creat concret mechan guid fundament | econom | polici postcrisi era underpin serious |
| polici | concret mechan guid fundament econom | polici | postcrisi era underpin serious detail |
| growth | introduc framework strong balanc sustain | growth | backbon framework multilater process g |
| countri | backbon framework multilater process g | countri | identifi object global economi polici |
| global | process g countri identifi object | global | economi polici need reach also |
| economi | g countri identifi object global | economi | polici need reach also commit |
| polici | countri identifi object global economi | polici | need reach also commit mutual |
| need | identifi object global economi polici | need | reach also commit mutual assess |
| also | global economi polici need reach | also | commit mutual assess progress toward |
| market | intern organ issu labor product | market | financi market trade map achiev |
| market | issu labor product market financi | market | trade map achiev practic first |
| polici | g member share imf staff | polici | plan econom project next year |
| econom | share imf staff polici plan | econom | project next year taken face |
| growth | framework goal strong sustain balanc | growth | howev given under polici plan |
| polici | balanc growth howev given under | polici | plan project appear relat optimist |
| need | rebalanc suggest addit effort would | need | among g member order achiev |
| countri | action could improv outlook bring | countri | closer object analysi present report |
| polici | agre extend analysi order identifi | polici | individu economi could undertak achiev |
| economi | analysi order identifi polici individu | economi | could undertak achiev ambiti outcom |
| polici | closer upsid scenario result set | polici | commit member avail page document |
| also | summar new imf staff analysi | also | publish part summit document avail |
| polici | websit thus map repres core | polici | coordin challeng analyt term process |
| polici | financi sector structur exchang rate | polici | constitut challeng assign modern fund |
| economi | spillov report wider impact system | economi | polici support effort first assess |
| polici | report wider impact system economi | polici | support effort first assess take |
| polici | success alreadi begun see challeng | polici | coordin without motiv spirit crisi |
| polici | logic upsid scenario set altern | polici | reflect process optim global set |
| global | altern polici reflect process optim | global | set implement would expect produc |
| economi | superior outcom relat baselin g | economi | sens prospect whether map upsid |
| polici | sens prospect whether map upsid | polici | implement depend princip answer two |
| polici | g author accept superior altern | polici | set real realist everi g |
| economi | set real realist everi g | economi | interest implement indic polici adjust |
| polici | g economi interest implement indic | polici | adjust second g member trust |
| polici | g member trust other follow | polici | indic toronto seoul leader affirm |
| polici | likelihood g member implement intend | polici | cours map lack enforc teeth |
| countri | enforc teeth develop take time | countri | want assur process reflect view |
| econom | analyt chapter fund recent world | econom | outlook public fiscal consolid analyz |
| growth | consolid analyz isol tend depress | growth | near term boost long term |
| polici | consolid howev trade partner adopt | polici | support domest demand result boost |
| polici | make like occur word collect | polici | action help deliv solut better |
| global | action help deliv solut better | global | financi safeti netintern cooper also |
| also | global financi safeti netintern cooper | also | critic strengthen global financi safeti |
| global | netintern cooper also critic strengthen | global | financi safeti net improv safeti |
| need | resourc fund dispos provid firepow | need | help contain rapid spread financi |
| also | rapid spread financi contagion member | also | endors import innov imf lend |
| financ | lend framework includ creation new | financ | instrument flexibl credit line fcl |
| financ | line fcl use provid conting | financ | economi strong macroeconom fundament excel |
| economi | fcl use provid conting financ | economi | strong macroeconom fundament excel polici |
| polici | economi strong macroeconom fundament excel | polici | framework fcl insurancelik instrument design |
| financ | crisisprevent tool repres fund first | financ | format adopt world securit crossbord |
| financ | format adopt world securit crossbord | financ | combin increas financi firepow appropri |
| countri | recent approv fund execut board | countri | strong polici sound econom fundament |
| polici | fund execut board countri strong | polici | sound econom fundament fcl made |
| econom | board countri strong polici sound | econom | fundament fcl made adapt countri |
| countri | econom fundament fcl made adapt | countri | moder vulner fund offer form |
| global | confid imf abil respond effect | global | financi crise look ahead continu |
| financ | might includ greater cooper region | financ | arrang re also examin synchron |
| also | cooper region financ arrang re | also | examin synchron use fcls could |
| countri | use fcls could support multipl | countri | affect common shock financi sector |
| global | crisi g place great emphasi | global | cooper repair strengthen financi sector |
| countri | level regulatori play field among | countri | resolv critic crossbord issu alreadi |
| also | agre basel ii import progress | also | made elabor polici framework reduc |
| polici | import progress also made elabor | polici | framework reduc moral hazard creat |
| countri | financi sector assess program mandatori | countri | system import financi sector repres |
| polici | standard implement adher work macroprudenti | polici | framework anoth key area endors |
| global | endors seoulglob governanceth broadbas commit | global | cooper also manifest histor chang |
| also | governanceth broadbas commit global cooper | also | manifest histor chang govern intern |
| economi | vote share dynam emerg develop | economi | result ten largest member imf |
| countri | state japan four largest european | countri | difficult claim lineup lack legitimaci |
| global | impact imf run creat institut | global | econom realiti reflect countri vote |
| econom | imf run creat institut global | econom | realiti reflect countri vote power |
| countri | institut global econom realiti reflect | countri | vote power enhanc fund credibl |
| global | effect make stronger institut promot | global | financi stabil growth member fact |
| growth | institut promot global financi stabil | growth | member fact reform alreadi impact |
| economi | view imf leader sever emerg | economi | note seoul summit consid imf |
| global | includ specif challeng achiev effect | global | polici cooper stake high posit |
| polici | specif challeng achiev effect global | polici | cooper stake high posit potenti |
| econom | european policymak today ignit sustain | econom | growth across contin postwar european |
| growth | policymak today ignit sustain econom | growth | across contin postwar european model |
| growth | built upon three pillar peac | growth | social cohes three critic import |
| growth | three feed today europ serious | growth | problem problem magnifi earthquak global |
| global | growth problem problem magnifi earthquak | global | financi crisi today mani european |
| countri | financi crisi today mani european | countri | pressur side challeng urgent ever |
| growth | integr european growtheurop enjoy stellar | growth | decad war growth driven technolog |
| growth | enjoy stellar growth decad war | growth | driven technolog catchup stabl macroeconom |
| market | worker young key reason labor | market | institut tend reward privileg insid |
| market | prospect lost generat distanc labor | market | margin societi low labor util |
| countri | util whole stori southern europ | countri | greatest competit problem product also |
| also | countri greatest competit problem product | also | lag behind infrastructur innov labor |
| economi | larg sector denial opportun harm | economi | let forget financi sector past |
| econom | sophist innov less true driver | econom | growth europ difficult startup obtain |
| growth | innov less true driver econom | growth | europ difficult startup obtain fund |
| growth | small mediums enterpris key engin | growth | first cut pressur aris global |
| global | growth first cut pressur aris | global | financi crisi brought problem head |
| need | solut prove drawnout process end | need | sovereign crisi sens wheel cooper |
| also | paneuropean dimens common european vision | also | seem lack come fiscal govern |
| need | intern imbal labor reform europ | need | holist growth strategi everi countri |
| growth | labor reform europ need holist | growth | strategi everi countri benefit effort |
| countri | need holist growth strategi everi | countri | benefit effort other postcrisi world |
| growth | agendaeurop must break shackl low | growth | stop settl second best way |
| need | destini done better must better | need | movement mani differ front first |
| growth | bank must suffici capit support | growth | invest opportun reappear earnest without |
| also | landmark respect howev policymak must | also | abil deal decis problem bank |
| also | financi integr brought mani benefit | also | present special challeng long run |
| growth | run financi sector must nurtur | growth | especi support small busi right |
| financ | right busi reli much bank | financ | ventur capit market could lot |
| market | much bank financ ventur capit | market | could lot meet need sinc |
| need | capit market could lot meet | need | sinc recoveri remain weak policymak |
| countri | fiscal consolid crucial pace tailor | countri | circumst differ countri face differ |
| countri | pace tailor countri circumst differ | countri | face differ challeng case job |
| growth | case job creation must prioriti | growth | without job growth without valu |
| growth | must prioriti growth without job | growth | without valu provid momentum labor |
| market | without valu provid momentum labor | market | reform see benefit launch singl |
| market | see benefit launch singl labor | market | initi european level sequel singl |
| market | initi european level sequel singl | market | initi harmon good market euro |
| market | singl market initi harmon good | market | euro area cannot achiev true |
| market | potenti bewild patchwork segment labor | market | barrier exacerb diverg econom fortun |
| econom | labor market barrier exacerb diverg | econom | fortun threaten euro area today |
| need | effort stay frontlin innov europ | need | devot resourc research educ euro |
| also | level longer term let us | also | forget growth europ especi euro |
| growth | term let us also forget | growth | europ especi euro area need |
| need | growth europ especi euro area | need | becom balanc like worri global |
| global | need becom balanc like worri | global | imbal worri imbal within euro |
| growth | true surplus good deficit bad | growth | sustain current account deficit european |
| countri | sustain current account deficit european | countri | need shrink parallel countri germani |
| need | current account deficit european countri | need | shrink parallel countri germani growth |
| countri | european countri need shrink parallel | countri | germani growth need becom domest |
| growth | need shrink parallel countri germani | growth | need becom domest driven longterm |
| need | shrink parallel countri germani growth | need | becom domest driven longterm growth |
| growth | need becom domest driven longterm | growth | would also get boost less |
| also | domest driven longterm growth would | also | get boost less restrict approach |
| also | shortag done north america could | also | make social model sustain howev |
| market | center thing happen think singl | market | program monetari union agenda left |
| market | thing stall think labor servic | market | reform especi lisbon agenda peer |
| econom | common destini union especi financi | econom | social polici countri must will |
| polici | union especi financi econom social | polici | countri must will cede author |
| countri | especi financi econom social polici | countri | must will cede author center |
| econom | still distanc away effect function | econom | union miss e emu mani |
| growth | best hit dual target stabil | growth | leap toward european polit integr |
| growth | etern peac peac came rise | growth | prosper degre social cohes envi |
| growth | envi world gain threat low | growth | poor employ prospect grow econom |
| econom | growth poor employ prospect grow | econom | diverg fault line around earthquak |
| global | diverg fault line around earthquak | global | financi crisi rip wide open |
| econom | cooper greater integr time fortifi | econom | foundat union none easi singl |
| market | foundat union none easi singl | market | easi first propos singl currenc |
| global | address issu aros crisi enhanc | global | financi stabil put financi system |
| econom | new cours facilit strong sustain | econom | growth pay special attent polici |
| growth | cours facilit strong sustain econom | growth | pay special attent polici orient |
| polici | econom growth pay special attent | polici | orient preserv stabil financi system |
| polici | financi system whole socal macroprudenti | polici | crisi caus effectshav enter fourth |
| countri | output loss relat trend g | countri | experienc system crisi percent gdp |
| countri | gdp debttogdp ratio advanc g | countri | like increas averag percentag point |
| global | easili avail propag channel domest | global | liquid risk fund risk incur |
| market | fund risk incur institut associ | market | liquid risk asset much higher |
| polici | stabil financi system whole consequ | polici | well coordin even time consist |
| global | system three year sinc onset | global | financi crisi much done stabil |
| global | financi crisi much done stabil | global | financi system crisi met unpreced |
| global | financi system crisi met unpreced | global | polici respons includ creation g |
| polici | system crisi met unpreced global | polici | respons includ creation g leader |
| polici | summit process elev discuss highest | polici | level kept intern attent focus |
| global | ultim goal reform process safer | global | financi system remain suffici dynam |
| financ | system remain suffici dynam innov | financ | strong sustain econom growth perspect |
| econom | dynam innov financ strong sustain | econom | growth perspect process financi reform |
| growth | innov financ strong sustain econom | growth | perspect process financi reform underpin |
| global | first must strong microprudenti regul | global | coordin strengthen resili individu financi |
| global | crossbord regulatori arbitrag could damag | global | financi stabil second must effect |
| polici | institut nation level critic effect | polici | procedur resolv financi institut prompt |
| global | institut prompt order manner given | global | reach financi institut imf propos |
| countri | make approach oper smaller set | countri | home crossbord financi institut fourth |
| polici | financi institut fourth must overarch | polici | framework address stabil financi system |
| polici | stabil financi system whole macroprudenti | polici | framework would deal systemwid interact |
| market | would deal systemwid interact institut | market | role visà vi macroeconomi macroprudenti |
| polici | howev must overlay exist set | polici | need humbl deliv need recogn |
| need | must overlay exist set polici | need | humbl deliv need recogn even |
| need | set polici need humbl deliv | need | recogn even welldevelop macroprudenti approach |
| also | institut framework part approach part | also | need support public accomplish set |
| need | framework part approach part also | need | support public accomplish set realist |
| polici | framework use draw parallel monetari | polici | price stabil monetari polici clear |
| polici | monetari polici price stabil monetari | polici | clear defin object price stabil |
| polici | lot experi pictur differ macroprudenti | polici | start target difficult defin fact |
| also | fact know financi stabil absenc | also | model measur system instabl infanc |
| need | experi area given uncertainti difficulti | need | modest come macroprudenti polici despit |
| polici | difficulti need modest come macroprudenti | polici | despit daunt task ahead let |
| need | attribut macroprudenti framework envis framework | need | identifi risk mitig tool bodi |
| polici | risk mitig tool bodi implement | polici | conting plan readi use objectivesfirst |
| need | plan readi use objectivesfirst framework | need | address two differ type risk |
| need | differ type risk develop framework | need | connect object mean address need |
| need | need connect object mean address | need | identifi monitor risk fill inform |
| need | identifi far b toolsfor start | need | decid mani tool need worth |
| need | start need decid mani tool | need | worth recogn start empti toolkit |
| market | liquid buffer infrastructur improv certain | market | push use repositori central counterparti |
| also | repurchas transact overthecount deriv trade | also | help lower counterparti risk potenti |
| also | yet import propos enough apart | also | need deal risk pose institut |
| need | import propos enough apart also | need | deal risk pose institut market |
| market | need deal risk pose institut | market | infrastructur system sens distress failur |
| economi | impos larg cost financi system | economi | made progress identifi institut believ |
| need | risk embodi current develop defin | need | address system risk collect generat |
| also | way institut contribut system risk | also | carri largest burden regard procycl |
| need | largest burden regard procycl tool | need | multidimension current discuss surround use |
| need | structur financi profession less procycl | need | attent date begun address privat |
| also | begun address privat sector must | also | play fundament role combat system |
| also | c organiz structuresa import toolkit | also | addit question use tool bodi |
| polici | bodi respons financi stabil macroprudenti | polici | locat appropri organiz structur independ |
| countri | lot experiment differ model differ | countri | area onesizefitsal approach could unduli |
| countri | could unduli suppress import individu | countri | attribut might make one model |
| countri | place follow particular circumst aris | countri | unit state doddfrank act set |
| need | impos method lower system risk | need | contrast unit kingdom bank england |
| polici | view central bank charg macroprudenti | polici | sever argument view countri central |
| countri | macroprudenti polici sever argument view | countri | central bank excel staff solid |
| polici | solid reput signific expertis monetari | polici | close link macroprudenti polici place |
| polici | monetari polici close link macroprudenti | polici | place macroprudenti polici central bank |
| polici | link macroprudenti polici place macroprudenti | polici | central bank facilit communic coordin |
| polici | central bank facilit communic coordin | polici | also central bank deep knowledg |
| also | bank facilit communic coordin polici | also | central bank deep knowledg financi |
| market | central bank deep knowledg financi | market | deriv manag liquid play role |
| polici | bank could safeguard hardwon monetari | polici | independ polit interfer also assum |
| also | monetari polici independ polit interfer | also | assum role macroprudenti overs addit |
| need | macroprudenti overs addit case would | need | address import communic challeng even |
| polici | even impress conflict interest monetari | polici | financi stabil goal instanc monetari |
| polici | financi stabil goal instanc monetari | polici | requir low interest rate macroprudenti |
| polici | requir low interest rate macroprudenti | polici | would thus need tighten deal |
| need | rate macroprudenti polici would thus | need | tighten deal consequ financi stabil |
| polici | brandnew independ agenc run macroprudenti | polici | experi track record could take |
| countri | mention may vari depend specif | countri | characterist experi view follow six |
| need | view follow six principl would | need | fulfil first need one singl |
| need | principl would need fulfil first | need | one singl macroprudenti overs dedic |
| need | overs dedic bodi second bodi | need | access inform necessari perform duti |
| need | abl identifi macroprudenti transmiss mechan | need | understand differ tool translat financi |
| need | understand macrofinanci linkag third bodi | need | abil act must control toolkit |
| polici | independ fulli account action macroprudenti | polici | might polit unpopular might affect |
| also | interest group industri time therefor | also | need build social legitimaci role |
| need | group industri time therefor also | need | build social legitimaci role need |
| need | need build social legitimaci role | need | make case decis import macroeconom |
| polici | make case decis import macroeconom | polici | decis fourth given various aspect |
| need | given various aspect system risk | need | holist approach decid tool use |
| need | one furthermor may unintend consequ | need | take account potenti market distort |
| market | consequ need take account potenti | market | distort migrat activ less regul |
| also | migrat activ less regul area | also | problem face advanc countri might |
| countri | area also problem face advanc | countri | might differ face emerg economi |
| economi | countri might differ face emerg | economi | might also differ tool need |
| also | differ face emerg economi might | also | differ tool need inde emerg |
| need | economi might also differ tool | need | inde emerg economi alreadi start |
| economi | differ tool need inde emerg | economi | alreadi start experi various macroprudenti |
| polici | alreadi start experi various macroprudenti | polici | success fifth regardless macroprudenti overs |
| need | overs situat central bank alway | need | play role given mandat expertis |
| also | among various public sector bodi | also | public privat sector instanc communic |
| polici | essenti communic charg monetari fiscal | polici | also import particular key maintain |
| also | communic charg monetari fiscal polici | also | import particular key maintain twoway |
| polici | key maintain twoway communic monetari | polici | macroprudenti polici instanc interest rate |
| polici | twoway communic monetari polici macroprudenti | polici | instanc interest rate movement like |
| polici | like macroprudenti impact similar macroprudenti | polici | may well affect monetari polici |
| polici | polici may well affect monetari | polici | transmiss mechan communic public also |
| also | polici transmiss mechan communic public | also | key social support critic effect |
| polici | support critic effect conduct macroprudenti | polici | moreov need delic balanc transpar |
| need | effect conduct macroprudenti polici moreov | need | delic balanc transpar financi risk |
| market | transpar financi risk vulner encourag | market | disciplin thus help selfcorrect risk |
| also | addit principl let rais question | also | need intern cooper macroprudenti policymak |
| need | principl let rais question also | need | intern cooper macroprudenti policymak need |
| need | need intern cooper macroprudenti policymak | need | global structur health domest individu |
| global | intern cooper macroprudenti policymak need | global | structur health domest individu institut |
| countri | system stabil financi health individu | countri | add global financi stabil certain |
| global | financi health individu countri add | global | financi stabil certain need intern |
| need | add global financi stabil certain | need | intern consist macroprudenti polici regulatori |
| polici | certain need intern consist macroprudenti | polici | regulatori arbitrag could otherwis ensu |
| also | regulatori arbitrag could otherwis ensu | also | need global coordin given univers |
| need | arbitrag could otherwis ensu also | need | global coordin given univers membership |
| global | could otherwis ensu also need | global | coordin given univers membership surveil |
| polici | facilit task similar alreadi macroeconom | polici | dimens within g coordin processth |
| polici | dimens monetari policywhil micro macroprudenti | polici | first line defens safeguard financi |
| polici | defens safeguard financi stabil monetari | polici | also help support financi stabil |
| also | safeguard financi stabil monetari polici | also | help support financi stabil question |
| polici | whether remain adapt manner particular | polici | goal addit price stabil answer |
| polici | addit price stabil answer monetari | polici | remain fulli commit maintain price |
| polici | lesson crisi suggest revis monetari | polici | framework along sever dimens first |
| polici | concern integr much systemat monetari | polici | decis make among thing requir |
| polici | time includ way truli aid | polici | make meantim need practic behavior |
| need | truli aid polici make meantim | need | practic behavior rule order ensur |
| polici | pursuit price stabil believ monetari | polici | lean nonmechanist way buildup financi |
| growth | upsw cycl exemplifi excess credit | growth | asset price lean stage hope |
| need | price lean stage hope lead | need | less clean downturn thus render |
| polici | clean downturn thus render monetari | polici | symmetr busi cycl yet financi |
| polici | time central bank would extend | polici | horizon price stabil beyond year |
| need | inflat variabl central bank would | need | transpar regard horizon reach price |
| need | financi system vulner regulatori attent | need | focus larger class institut challeng |
| market | perimet wellknown boundari problem furthermor | market | like becom safer specif market |
| market | market like becom safer specif | market | infrastructur includ exchang trade previous |
| market | payment time part plumb fixtur | market | improv essenti newli setup financi |
| market | less riski system safer institut | market | less profit employ less peopl |
| financ | system remain suffici effici innov | financ | strong sustain growth must main |
| growth | effici innov financ strong sustain | growth | must main goal design regulatori |
| need | move forward lot work still | need | area need humbl sever known |
| need | lot work still need area | need | humbl sever known unknown like |
| also | humbl sever known unknown like | also | number unknown unknown clear prior |
| need | see tree clear go forward | need | see tree bark root system |
| need | tree bark root system interconnect | need | take good look forest whole |
| need | tree allow forest whole thrive | need | good healthi nation forest also |
| also | need good healthi nation forest | also | care global forest mean collabor |
| global | healthi nation forest also care | global | forest mean collabor intern level |
| global | intern level financi system becom | global | present crisi clear shown global |
| global | global present crisi clear shown | global | problem need global respons intern |
| need | crisi clear shown global problem | need | global respons intern collabor therefor |
| global | clear shown global problem need | global | respons intern collabor therefor must |
| global | want succeed move toward better | global | financi system |
| global | apec meet brief remark focus | global | econom outlook polici challeng global |
| econom | meet brief remark focus global | econom | outlook polici challeng global outlook |
| polici | remark focus global econom outlook | polici | challeng global outlook multispe recoveri |
| global | global econom outlook polici challeng | global | outlook multispe recoveri shift gear |
| global | outlook multispe recoveri shift gear | global | recoveri advanc despit setback financi |
| global | suggest pace recoveri slow includ | global | trade flow industri product howev |
| economi | flow industri product howev emerg | economi | especi asia remain lead contrast |
| economi | asia remain lead contrast advanc | economi | unemploy remain high household consumpt |
| growth | strengthen privat domest demand support | growth | proceed slowli polici stimulus inventori |
| polici | demand support growth proceed slowli | polici | stimulus inventori rebuild fade result |
| economi | year percent next year advanc | economi | would expand percent year low |
| growth | sinc world war ii contrast | growth | emerg develop economi moder second |
| economi | ii contrast growth emerg develop | economi | moder second half would still |
| economi | remain general subdu except emerg | economi | advanc economi core inflat slow |
| economi | subdu except emerg economi advanc | economi | core inflat slow less percent |
| econom | inflat slow less percent consider | econom | slack deflat may pertin risk |
| economi | deflat may pertin risk emerg | economi | headlin inflat expect subsid percent |
| economi | stabil howev inflationari pressur elev | economi | less stabl inflat past oper |
| global | oper closer capac india momentum | global | activ slow downsid risk recoveri |
| economi | remain weak across number advanc | economi | coupl question fiscal sustain recoveri |
| market | fiscal sustain recoveri real estat | market | key risk turbul advanc sovereign |
| market | risk turbul advanc sovereign debt | market | could trigger unsuccess debt rollov |
| market | event could creat renew financi | market | disloc interrupt transit toward stronger |
| economi | privatel demand mark slowdown advanc | economi | togeth heighten global risk avers |
| global | slowdown advanc economi togeth heighten | global | risk avers would quick spread |
| economi | would quick spread develop emerg | economi | anoth risk outlook stem possibl |
| market | possibl renew weak key properti | market | includ u foreclosur backlog larg |
| economi | backlog larg grow background advanc | economi | must begin implement credibl mediumterm |
| market | crowd privat demand hand emerg | market | economi face risk overh larg |
| economi | privat demand hand emerg market | economi | face risk overh larg capit |
| global | final without success effort rebalanc | global | demand risk protection would also |
| also | global demand risk protection would | also | like rise outlook apec implic |
| countri | rise outlook apec implic apec | countri | mention larger advanc apec economi |
| economi | countri mention larger advanc apec | economi | japan u pace recoveri general |
| economi | recoveri general remain subdu advanc | economi | includ canada australia emerg strong |
| global | includ canada australia emerg strong | global | recess part reflect robust domest |
| econom | reflect robust domest demand stronger | econom | fundament emerg apec economi latin |
| economi | stronger econom fundament emerg apec | economi | latin america includ chile peru |
| growth | peru lesser extent mexico robust | growth | return normal level emerg asia |
| growth | main reflect challeng outlook export | growth | final demand major advanc economi |
| economi | growth final demand major advanc | economi | unlik return precrisi rate china |
| growth | becom import engin extern demand | growth | asian economi still small market |
| economi | engin extern demand growth asian | economi | still small market comparison larg |
| market | growth asian economi still small | market | comparison larg advanc economi especi |
| economi | small market comparison larg advanc | economi | especi consum good main risk |
| global | risk outlook still downsid pertain | global | recoveri econom fundament emerg economi |
| econom | still downsid pertain global recoveri | econom | fundament emerg economi general strong |
| economi | global recoveri econom fundament emerg | economi | general strong import trade financi |
| economi | world would make particular asian | economi | expos downsid risk advanc economi |
| economi | economi expos downsid risk advanc | economi | slowdown describ polici challeng key |
| polici | risk advanc economi slowdown describ | polici | challeng key polici challeng uncertain |
| polici | slowdown describ polici challeng key | polici | challeng uncertain multispe global environ |
| global | key polici challeng uncertain multispe | global | environ still need care manag |
| need | uncertain multispe global environ still | need | care manag exit polici stimulus |
| polici | still need care manag exit | polici | stimulus depend countrycircumst overal polici |
| polici | polici stimulus depend countrycircumst overal | polici | prioriti increas focus mediumterm requir |
| global | focus mediumterm requir aim rebalanc | global | demand involv intern rebalanc advanc |
| economi | demand involv intern rebalanc advanc | economi | anchor shift public privatedemandl growth |
| growth | economi anchor shift public privatedemandl | growth | extern rebalanc underpin increas net |
| countri | export advanc current account deficit | countri | decreas net export emerg surplus |
| economi | decreas net export emerg surplus | economi | issu global imbal somewhat forgotten |
| global | export emerg surplus economi issu | global | imbal somewhat forgotten global econom |
| global | issu global imbal somewhat forgotten | global | econom crisi recent concern currenc |
| econom | global imbal somewhat forgotten global | econom | crisi recent concern currenc war |
| countri | cooper critic promot extern sustain | countri | support pursuit full rang polici |
| polici | countri support pursuit full rang | polici | conduc reduc excess imbal maintain |
| economi | account imbal sustain level advanc | economi | must expediti repair reform financi |
| need | intern rebalanc would help reduc | need | high accommod monetari polici stanc |
| polici | reduc need high accommod monetari | polici | stanc economi contribut negat spillov |
| economi | high accommod monetari polici stanc | economi | contribut negat spillov form larg |
| economi | larg volatil capit inflow emerg | economi | associ risk overh advanc economi |
| economi | economi associ risk overh advanc | economi | also put place begin implement |
| also | associ risk overh advanc economi | also | put place begin implement credibl |
| global | demand part plan consolid begin | global | growth slow appreci expect countri |
| growth | part plan consolid begin global | growth | slow appreci expect countri fiscal |
| countri | global growth slow appreci expect | countri | fiscal room could postpon plan |
| economi | key emerg current account surplus | economi | strategi promot exportl growth becom |
| growth | surplus economi strategi promot exportl | growth | becom less viabl multilater viewpoint |
| countri | multilater viewpoint eventu caus tension | countri | compet share global demand realloc |
| global | caus tension countri compet share | global | demand realloc demand extern sector |
| economi | sector may initi pain sector | economi | lead sizabl sustain gain live |
| growth | live standard mediumterm success shift | growth | toward privat domest demand would |
| countri | simultan implement packag measur depend | countri | circumst packag would includ continu |
| need | nontrad sector order measur effect | need | undertaken wide coordin global player |
| global | effect need undertaken wide coordin | global | player mani emerg economi also |
| economi | coordin global player mani emerg | economi | also face difficult polici challeng |
| also | global player mani emerg economi | also | face difficult polici challeng manag |
| polici | emerg economi also face difficult | polici | challeng manag larg volatil capit |
| global | larg volatil capit inflow context | global | demand rebalanc flow view opportun |
| growth | opportun facilit adjust toward broaderbas | growth | hindranc said manag larg inflow |
| economi | exchang rate flexibl major emerg | economi | appropri respons need base whether |
| need | major emerg economi appropri respons | need | base whether capit inflow assess |
| also | support staff make event possibl | also | honor share stage prime minist |
| countri | hear thought challeng face resourcerich | countri | meet backdrop recov yet still |
| global | backdrop recov yet still fragil | global | economi recoveri remain subdu unit |
| economi | recov yet still fragil global | economi | recoveri remain subdu unit state |
| countri | middl east even africa mani | countri | return growth much faster previous |
| growth | even africa mani countri return | growth | much faster previous recess testament |
| polici | faster previous recess testament sound | polici | implement mani african countri year |
| countri | sound polici implement mani african | countri | year crisi hit polic need |
| need | countri year crisi hit polic | need | secur global recoveri answer vari |
| global | crisi hit polic need secur | global | recoveri answer vari countri recoveri |
| countri | secur global recoveri answer vari | countri | recoveri remain weak macroeconom polici |
| polici | countri recoveri remain weak macroeconom | polici | need remain support possibl other |
| need | recoveri remain weak macroeconom polici | need | remain support possibl other stronger |
| polici | possibl other stronger recoveri mean | polici | support may longer need countri |
| need | mean polici support may longer | need | countri must work togeth find |
| countri | polici support may longer need | countri | must work togeth find polici |
| polici | countri must work togeth find | polici | secur global recoveri foster strong |
| global | work togeth find polici secur | global | recoveri foster strong stabl balanc |
| global | recoveri foster strong stabl balanc | global | growth medium term creat job |
| growth | foster strong stabl balanc global | growth | medium term creat job major |
| polici | medium term creat job major | polici | challeng across world true economi |
| economi | polici challeng across world true | economi | heart crisi unemploy hit histor |
| economi | crisi unemploy hit histor high | economi | unemploy problem mani year alreadi |
| econom | mani year alreadi jobless major | econom | problem major social problem tremend |
| countri | focus specif challeng face resourcerich | countri | today wide mix countri repres |
| countri | resourcerich countri today wide mix | countri | repres seminar provid good basi |
| economi | basi share experi draw lesson | economi | deal futur challeng want touch |
| global | touch issu may discuss seminar | global | economi go dramat chang major |
| economi | issu may discuss seminar global | economi | go dramat chang major implic |
| economi | natur resourc come year emerg | economi | increas drive global growth mani |
| global | year emerg economi increas drive | global | growth mani countri take step |
| growth | emerg economi increas drive global | growth | mani countri take step adapt |
| countri | increas drive global growth mani | countri | take step adapt climat chang |
| market | return alreadi back agricultur commod | market | underscor import right macroeconom polici |
| polici | market underscor import right macroeconom | polici | manag volatil financi tool includ |
| growth | exchang rate turn slow product | growth | sector economi weaken competit hold |
| economi | turn slow product growth sector | economi | weaken competit hold back econom |
| econom | economi weaken competit hold back | econom | diversif leav economi over depend |
| economi | hold back econom diversif leav | economi | over depend natur resourc sector |
| countri | wise share fair across societi | countri | bless tremend natur rich yet |
| countri | million remain poverti seem right | countri | natur rich use tackl constraint |
| growth | natur rich use tackl constraint | growth | develop creat decent job need |
| need | growth develop creat decent job | need | rais live standard much greater |
| need | physic human institut capit clear | need | boost product rais competit support |
| also | real exchang rate fair level | also | allow futur generat benefit revenu |
| polici | play critic role ensur welldesign | polici | inde effect strong fiscal institut |
| economi | impact spike capit inflow broader | economi | sound manag foreign exchang reserv |
| economi | strong institut miss mani resourcerich | economi | result econom perform mani countri |
| econom | miss mani resourcerich economi result | econom | perform mani countri abund natur |
| countri | economi result econom perform mani | countri | abund natur resourc quit poor |
| countri | high level account import experi | countri | like botswana chile indonesia show |
| countri | independ account institut play resourcerich | countri | also firm believ vigor civil |
| also | account institut play resourcerich countri | also | firm believ vigor civil societi |
| also | code good practic fiscal transpar | also | provid technic assist train member |
| countri | macrofinanci issu face resourc rich | countri | close let affirm imf commit |
| polici | imf commit work member tackl | polici | challeng new global economi hope |
| global | member tackl polici challeng new | global | economi hope event like close |
| economi | tackl polici challeng new global | economi | hope event like close bilater |
| global | member help support strong stabl | global | recoveri benefit nation world thank |
| econom | talk allimport topic human welfar | econom | stabil link often neglect old |
| econom | idea smith one founder modern | econom | recogn clear poor distribut wealth |
| market | distribut wealth could undermin free | market | system note disposit admir almost |
| global | today world problem magnifi len | global | new globalizationglob certain deliv lot |
| econom | never seen human histori new | econom | power arisen forev shift balanc |
| econom | power arisen forev shift balanc | econom | power global also dark side |
| global | forev shift balanc econom power | global | also dark side lurk behind |
| also | shift balanc econom power global | also | dark side lurk behind larg |
| countri | chasm rich poor especi within | countri | inequit distribut wealth wear social |
| countri | wealth wear social fabric unequ | countri | wors social indic poorer human |
| econom | human develop record higher degre | econom | insecur anxieti mani countri inequ |
| countri | degre econom insecur anxieti mani | countri | inequ increas real wage stagnat |
| growth | depress level eve crisi fundament | growth | model coexist global unbalanc unsustain |
| global | crisi fundament growth model coexist | global | unbalanc unsustain growth driven much |
| growth | model coexist global unbalanc unsustain | growth | driven much borrow countri made |
| countri | unsustain growth driven much borrow | countri | made possibl much save other |
| global | stabil forev shatter wild ride | global | financi crisi runaway financi sector |
| countri | may actual stoke unsustain model | countri | like unit state borrow seem |
| also | major rise debt inequ could | also | behind chines exportori model sinc |
| need | model sinc solid domest demand | need | healthi middl class low exchang |
| growth | real wage cours unbalanc pattern | growth | varieti caus would foolish ignor |
| also | inequ goe notion fair solidar | also | threaten econom social stabil especi |
| econom | notion fair solidar also threaten | econom | social stabil especi true poorer |
| countri | social stabil especi true poorer | countri | inequ dampen econom opportun prevent |
| econom | true poorer countri inequ dampen | econom | opportun prevent poor access financ |
| financ | econom opportun prevent poor access | financ | need pursu profit invest divert |
| need | opportun prevent poor access financ | need | pursu profit invest divert peopl |
| countri | peopl toward unproduct activ make | countri | prone advers shock fewer peopl |
| growth | dip save bad time declin | growth | larger global world benefit growth |
| global | bad time declin growth larger | global | world benefit growth wide share |
| growth | growth larger global world benefit | growth | wide share could see backlash |
| econom | see backlash open cooper retreat | econom | nation especi poorer countri lead |
| countri | retreat econom nation especi poorer | countri | lead instabl breakdown democraci even |
| global | era cannot turn back open | global | need new global new world |
| need | cannot turn back open global | need | new global new world global |
| global | back open global need new | global | new world global human face |
| global | need new global new world | global | human face peopl come first |
| growth | human face peopl come first | growth | equiti alway go togeth must |
| market | alway go togeth must reli | market | growth invis hand must becom |
| growth | go togeth must reli market | growth | invis hand must becom invis |
| polici | hand must becom invis fist | polici | agendawhat practic implic mani focus |
| need | implic mani focus first foremost | need | rebal global growth save unit |
| global | focus first foremost need rebal | global | growth save unit state elsewher |
| growth | first foremost need rebal global | growth | save unit state elsewher unlik |
| countri | level old model dead surplus | countri | must shift extern intern growth |
| growth | countri must shift extern intern | growth | engin reli domest demand let |
| growth | support rebalanc give us new | growth | growth stabl fair mark lower |
| growth | rebalanc give us new growth | growth | stabl fair mark lower inequ |
| need | technolog policymak must encourag innov | need | tap untouch reservoir product area |
| growth | reservoir product area talk new | growth | model need fix old problem |
| need | area talk new growth model | need | fix old problem especi financi |
| economi | put bank back servic real | economi | substanti progress made still lot |
| growth | peopl look first job clear | growth | enough need growth job job |
| need | first job clear growth enough | need | growth job job enough need |
| growth | job clear growth enough need | growth | job job enough need decent |
| need | need growth job job enough | need | decent job benefit rise tide |
| market | prospect lost generat distanc labor | market | margin societi north africa challeng |
| need | demograph time bomb young peopl | need | econom opportun urgent region integr |
| econom | time bomb young peopl need | econom | opportun urgent region integr open |
| need | would welcom step right direct | need | labor market polici focus job |
| market | step right direct need labor | market | polici focus job creation need |
| polici | right direct need labor market | polici | focus job creation need opportun |
| need | market polici focus job creation | need | opportun prosper better educ train |
| polici | help small busi tax expenditur | polici | support fair econom stabil adequ |
| econom | tax expenditur polici support fair | econom | stabil adequ social safeti net |
| also | social safeti net progress taxat | also | promot equiti redistribut encourag also |
| also | also promot equiti redistribut encourag | also | make sure worker adequ bargain |
| market | import must avoid dual labor | market | creat stark divis protect insid |
| countri | insid exclud outsid come lowincom | countri | special respons goal import today |
| need | face immens human suffer happen | need | balanc sustain global growth without |
| global | suffer happen need balanc sustain | global | growth without tread water rapid |
| growth | happen need balanc sustain global | growth | without tread water rapid advanc |
| countri | water rapid advanc tide richer | countri | must show solidar poorer neighbor |
| countri | channel financi support help lowincom | countri | overcom crippl challeng climat chang |
| countri | barrier trade block export lowincom | countri | prevent lift live standard also |
| also | countri prevent lift live standard | also | redoubl effort help fragil state |
| countri | state risk left behind lowincom | countri | must also help part rebuild |
| also | left behind lowincom countri must | also | help part rebuild polici buffer |
| polici | must also help part rebuild | polici | buffer mobil domest revenu readi |
| also | domest revenu readi next crisi | also | creat room invest infrastructur strengthen |
| need | infrastructur strengthen social safeti net | need | propoor growth let conclud briefli |
| growth | social safeti net need propoor | growth | let conclud briefli die summer |
| econom | threat health democraci mandat imf | econom | financi stabil sure foundat human |
| countri | war promot better relat among | countri | prevent retreat nation avoid econom |
| econom | countri prevent retreat nation avoid | econom | root conflict achiev goal need |
| need | econom root conflict achiev goal | need | open deliv global also need |
| global | achiev goal need open deliv | global | also need global growth equit |
| also | goal need open deliv global | also | need global growth equit stabl |
| need | need open deliv global also | need | global growth equit stabl need |
| global | open deliv global also need | global | growth equit stabl need new |
| growth | deliv global also need global | growth | equit stabl need new global |
| need | need global growth equit stabl | need | new global last great period |
| global | growth equit stabl need new | global | last great period global decad |
| global | new global last great period | global | decad lead first world war |
| econom | crash thirti year brutal war | econom | devast happen happen recent crisi |
| need | hard produc crosscheck valid data | need | decisionmak opportun take stock need |
| need | need decisionmak opportun take stock | need | done improv world statist system |
| global | world statist system recov devast | global | financi crisi inflict tremend cost |
| econom | deal progress develop methodolog consist | econom | financi statist system cover tradit |
| polici | transpar initi brought signific benefit | polici | maker analyst term avail compar |
| countri | compar broad consist data across | countri | europ set fine exampl area |
| econom | high valuabl provid comprehens overview | econom | financi develop euro area also |
| also | econom financi develop euro area | also | crosscheck consist high frequenc data |
| market | statist balanc payment statist capit | market | data effort prove extrem use |
| need | crisi highlight black hole data | need | address broad agreement runup crisi |
| need | along sever dimens concert effort | need | close key data gap identifi |
| financ | imf fsb report g minist | financ | central bank governor effort includ |
| need | would underscor import better align | need | collect micro data macrofinanci data |
| econom | macrofinanci data improv cooper regulatori | econom | statistician need make world statist |
| need | improv cooper regulatori econom statistician | need | make world statist system robust |
| need | better equip cope new divers | need | data doubt addit resourc case |
| need | resourc case strengthen legisl framework | need | improv abil regulatori statist agenc |
| global | share linkag across system import | global | financi institut sifi draft common |
| also | activ appropri balanc confidenti transpar | also | imper data collect effort global |
| global | also imper data collect effort | global | financi network recogn intern dimens |
| econom | wish commend work interag group | econom | financi statist ecb activ member |
| global | gap initi joint establish princip | global | indic pgi websit success bring |
| economi | success bring data seri g | economi | common platform imf obtain euro |
| also | encourag continu deepen effort wish | also | extend congratul world statist communiti |
| also | morn join us celebr would | also | like thank guest speaker dr |
| also | prof deaton excel present let | also | thank great colleagu shaida badie |
| also | director imf dialogu guest speaker | also | extrem valuabl provid us plenti |
| need | summar take away one messag | need | address data gap particular improv |
| global | particular improv inform system import | global | financi institut sigfi requir resourc |
| need | high prioriti work anoth messag | need | broaden rang dataset enhanc polici |
| polici | need broaden rang dataset enhanc | polici | make end mr portug mention |
| need | financi access survey anoth messag | need | dissemin inform general public imf |
| global | data dissemin standard sdds princip | global | indic pgi world bank open |
| also | success usual focus outstand task | also | talk data disclosur research activ |
| global | statist establish major achiev foundat | global | communiti offici statist unit rich |
| econom | statist unit rich divers cultur | econom | polit background produc public good |
| countri | public good call offici statist | countri | abl benefit achiev concern standard |
| countri | technic assist statist virtual member | countri | final must forget big pictur |
| polici | monitor progress societi help shape | polici | around globe pleas keep mind |
| also | bank fund major consum statist | also | produc dissemin data delight note |
| also | core valu servic integr profession | also | time speak hope aspir purpos |
| need | good work produc dissemin data | need | wise decisionmak offici statist communiti |
| econom | deal progress develop methodolog consist | econom | financi statist system cover tradit |
| polici | transpar initi brought great benefit | polici | maker analyst term avail compar |
| countri | compar broad consist data across | countri | fund sever initi worth highlight |
| countri | standard sdds establish march guid | countri | seek access intern capit market |
| market | countri seek access intern capit | market | provid econom financi data public |
| econom | access intern capit market provid | econom | financi data public general data |
| countri | gdds establish decemb guid member | countri | develop plan statist improv success |
| countri | plan statist improv success today | countri | sdds subscrib countri gdds particip |
| countri | success today countri sdds subscrib | countri | gdds particip account altogeth percent |
| global | account altogeth percent membership princip | global | indic pgi websit establish joint |
| econom | intern institut repres interag group | econom | financi statist includ bank fund |
| economi | aim bring data seri g | economi | common platform success initi includ |
| also | sector debt statist guid name | also | pleas note two institut well |
| countri | help improv compar data across | countri | initi result spate emerg market |
| market | countri initi result spate emerg | market | financi crise happen second half |
| global | crisi recov much wors devast | global | financi crisi inflict tremend cost |
| need | crisi highlight black hole data | need | address group twenti g financ |
| financ | need address group twenti g | financ | minist central bank governor recogn |
| need | minist central bank governor recogn | need | close data gap reveal crisi |
| financ | fsb report back g minist | financ | central bank governor meet novemb |
| need | heavi work agenda year come | need | make world statist system robust |
| need | better equip cope new divers | need | sourc data certain addit resourc |
| need | sourc data certain addit resourc | need | improv abil regulatori statist agenc |
| also | collect necessari micro data case | also | need strengthen legisl framework creat |
| need | necessari micro data case also | need | strengthen legisl framework creat appropri |
| global | imper data collect effort particular | global | financi network recogn intern dimens |
| global | take place asia ongo transform | global | economi asia econom powerhous acceler |
| economi | place asia ongo transform global | economi | asia econom powerhous acceler crisi |
| econom | ongo transform global economi asia | econom | powerhous acceler crisi today asia |
| global | crisi today asia stand helm | global | recoveri polici choic import sake |
| polici | asia stand helm global recoveri | polici | choic import sake also global |
| also | recoveri polici choic import sake | also | global economi whole look ahead |
| global | polici choic import sake also | global | economi whole look ahead fix |
| economi | choic import sake also global | economi | whole look ahead fix fragil |
| global | whole look ahead fix fragil | global | financi system key prioriti confer |
| polici | key prioriti confer focus macroprudenti | polici | deal intersect real economi financi |
| economi | macroprudenti polici deal intersect real | economi | financi sector provid birdsey view |
| polici | view entir system interconnect world | polici | becom increas import shift seamless |
| growth | crisi move toward new sourc | growth | asia econom performanceasia econom perform |
| econom | toward new sourc growth asia | econom | performanceasia econom perform past decad |
| econom | sourc growth asia econom performanceasia | econom | perform past decad noth short |
| growth | short remark driven rapid steadi | growth | region account third global economi |
| global | steadi growth region account third | global | economi fifth current trend asia |
| economi | growth region account third global | economi | fifth current trend asia economi |
| economi | economi fifth current trend asia | economi | could larg unit state european |
| growth | state european union combin cours | growth | must benefit everybodi asia made |
| global | accomplish entir histori human civil | global | financi crisi hit asia prove |
| countri | faster elsewher asia made mistak | countri | pile debt use complex financi |
| polici | past embrac sound macroeconom prudenti | polici | thank solid foundat quick forc |
| polici | thank solid foundat quick forc | polici | respons asia becom launch pad |
| global | respons asia becom launch pad | global | econom recoveri come challeng central |
| econom | asia becom launch pad global | econom | recoveri come challeng central cooperationlet |
| countri | crisi dissolv cacophoni discord voic | countri | increas go alon sure make |
| economi | cooper action part world major | economi | boost world growth  ½ |
| growth | world major economi boost world | growth | Â ½ percentag point five |
| countri | peopl poverti winwin outcom everi | countri | region must play part great |
| global | especi achiev strong sustain balanc | global | growth year ahead direct relat |
| growth | achiev strong sustain balanc global | growth | year ahead direct relat today |
| growth | direct relat today confer futur | growth | must safer growth less prone |
| growth | confer futur growth must safer | growth | less prone financi excess buildup |
| polici | macroeconom imbal financi sector macroprudenti | polici | like glue hold system place |
| growth | sector repair reform talk new | growth | model need fix old problem |
| need | reform talk new growth model | need | fix old problem must make |
| economi | put bank back servic real | economi | mani problem eman advanc countri |
| countri | economi mani problem eman advanc | countri | beyond asia countri need take |
| countri | eman advanc countri beyond asia | countri | need take lead fix problem |
| need | advanc countri beyond asia countri | need | take lead fix problem lot |
| also | intrus afraid say power interest | also | need coher resolut mechan domest |
| need | afraid say power interest also | need | coher resolut mechan domest across |
| countri | made oper among small set | countri | home crossbord institut macroprudenti angleand |
| need | system total amidst rubbl crisi | need | build new macroprudenti framework appropri |
| global | take place asia asia lead | global | recoveri move swift back toward |
| polici | move swift back toward normal | polici | condit capit flow flood want |
| also | repeat short time span asia | also | uniqu opportun lead exampl capit |
| also | flow present great opportun asia | also | great challeng one hand want |
| market | want capit flow toward emerg | market | channel right direct guid deepen |
| market | direct guid deepen domest capit | market | effect supervis capit flow boost |
| growth | supervis capit flow boost invest | growth | live standard hand flow clear |
| countri | asset price bubbl financi instabl | countri | address kind vulner sinc capit |
| polici | financi safeti net complement macroprudenti | polici | region financ arrang chiang mai |
| financ | net complement macroprudenti polici region | financ | arrang chiang mai initi play |
| global | import role imf work strengthen | global | financi safeti net stand readi |
| countri | crise import even better prevent | countri | would first note pragmat issu |
| countri | note pragmat issu matter ideolog | countri | number polici option toolkit lower |
| polici | issu matter ideolog countri number | polici | option toolkit lower interest rate |
| polici | rate reserv accumul tighter fiscal | polici | macroprudenti measur sometim capit control |
| polici | alway pragmat clear convent macroeconom | polici | macroprudenti tool intrins link price |
| need | stabil financi stabil intrins link | need | holist approach mean chang role |
| polici | ahead conclusionlet tri sum complex | polici | agenda simpli succeed without cooper |
| econom | ownership collabor agenda asia major | econom | region center mean respons whole |
| also | import voic world affair g | also | imf process give influenc dynam |
| market | process give influenc dynam emerg | market | finish say imf fulli support |
| econom | second home first better monitor | econom | financi risk includ mandatori fsap |
| countri | risk includ mandatori fsap system | countri | earli warn exercis analysi countri |
| countri | countri earli warn exercis analysi | countri | spillov second continu strengthen crisi |
| global | framework reduc incent selfinsur support | global | rebalanc third provid forum intern |
| polici | rebalanc third provid forum intern | polici | cooper differ countri wed singl |
| countri | forum intern polici cooper differ | countri | wed singl goal prosper world |
| countri | learn oper mani differ cultur | countri | feel particular honor invit foundat |
| financ | qualif emin experi world intern | financ | monetari cooper inde honor year |
| also | interact mani spoken special occas | also | work direct includ abdelatif alhamad |
| global | prestigi gather hope share analysi | global | economi base rather eclect approach |
| economi | gather hope share analysi global | economi | base rather eclect approach combin |
| polici | rather eclect approach combin academ | polici | dimens daili realiti work invest |
| global | invest manag firm deepli involv | global | financi market present base three |
| market | firm deepli involv global financi | market | present base three hope familiar |
| countri | overhang structur challeng key industri | countri | combin acceler secular realign global |
| global | countri combin acceler secular realign | global | economi creat us feder reserv |
| economi | combin acceler secular realign global | economi | creat us feder reserv chairman |
| countri | respons privat public sector industri | countri | outcom consist fallen short expect |
| polici | shed light ongo dynam complic | polici | compani respons consequenti consid come |
| polici | respons consequenti consid come appropri | polici | reaction corpor strategi invest posit |
| also | reaction corpor strategi invest posit | also | matter speak challeng inadvert misdiagnos |
| also | context subject excess oper restrict | also | shed light view world illserv |
| econom | shortterm mean revers shorthand think | econom | financi disloc inde industri countri |
| countri | econom financi disloc inde industri | countri | well crisi manag phase think |
| countri | lose peac result mani industri | countri | find rather unsettl situat expect |
| countri | respons particular though exclus industri | countri | recognit first part meaning cours |
| global | thus object lectur much stake | global | economi longer recognit problem persist |
| economi | object lectur much stake global | economi | longer recognit problem persist greater |
| polici | activ inertia disappoint outcom possibl | polici | mistak busi accid increas becom |
| countri | accid increas becom harder industri | countri | govern convinc citizenri well decis |
| economi | citizenri well decis maker emerg | economi | particip fulli formul implement requir |
| global | core intern system ii anatomi | global | financi crisisth domest anglemuch written |
| global | domest anglemuch written much written | global | financi crisi undoubt mani contributor |
| market | potent lower barrier entri mani | market | includ import segment us hous |
| market | includ import segment us hous | market | result mani household purchas home |
| countri | sector prior crisi key industri | countri | embark upon multiyear serial contamin |
| also | institut soon balanc sheet bank | also | contamin consequ pinnacl crisi septemberoctob |
| market | intern payment settlement system cascad | market | failur aggrav disrupt attempt massiv |
| econom | stop relat high correl collaps | econom | activ around world govern central |
| global | bold impress manner succeed avoid | global | depress yet like thing life |
| global | climax april g summit london | global | coordin best lectur gave way |
| market | collabor common focus purpos obvious | market | align narrat interest design implement |
| global | period stubborn hardwir outmod concept | global | represent seem gave way greater |
| global | mixth initi combin effect nation | global | respons high success provid floor |
| economi | respons high success provid floor | economi | around world nation author act |
| global | act bold address cascad failur | global | orchestr fashion multiyear econom depress |
| econom | failur global orchestr fashion multiyear | econom | depress avert tremend suffer would |
| economi | billion around world mani emerg | economi | rebound quick part general enter |
| polici | stronger intern reserv cushion greater | polici | flexibl smaller exposur structur financ |
| financ | polici flexibl smaller exposur structur | financ | process demonstr type econom financi |
| econom | structur financ process demonstr type | econom | financi resili would unthink year |
| countri | earlier depress tail clip industri | countri | financi market also found foot |
| market | tail clip industri countri financi | market | also found foot sharp recoveri |
| also | clip industri countri financi market | also | found foot sharp recoveri wealth |
| market | sharp recoveri wealth associ equiti | market | rebound amplifi impact governmentcentr bank |
| also | prove prematur especi us europ | also | highlight insuffici recognit potent mix |
| econom | highlight insuffici recognit potent mix | econom | polit social forc play soon |
| polici | must act urgent partial inform | polici | imagin bold need overcom malfunct |
| need | partial inform polici imagin bold | need | overcom malfunct transmiss mechan often |
| polici | consensus requir support strong legitimaci | polici | respons let alon time make |
| also | post crisi phase societi must | also | deal unintend consequ crisi manag |
| polici | consequ crisi manag period inevit | polici | respons secondguess fair issu featur |
| polici | fair issu featur promin initi | polici | converg form midst crisi give |
| economi | account crisi none news emerg | economi | yet come surpris mani industri |
| countri | yet come surpris mani industri | countri | inde distinct resist among mani |
| polici | inde distinct resist among mani | polici | maker appli emerg market lesson |
| market | mani polici maker appli emerg | market | lesson challeng countri face despit |
| countri | appli emerg market lesson challeng | countri | face despit import insight approach |
| global | import insight approach provid recent | global | financi crisi also left import |
| also | provid recent global financi crisi | also | left import balanc sheet legaci |
| countri | sheet legaci particular mani industri | countri | suffici sound initi condit accommod |
| countri | concern debt deficit ad industri | countri | sovereign risk alreadi substant list |
| econom | uncertainti polit complic name situat | econom | desir polit feasibl polit feasibl |
| econom | desir polit feasibl polit feasibl | econom | desir fragil also evid global |
| also | polit feasibl econom desir fragil | also | evid global level countri circumst |
| global | econom desir fragil also evid | global | level countri circumst evolv differ |
| countri | fragil also evid global level | countri | circumst evolv differ post crisi |
| global | becom difficult especi strong credibl | global | govern mechan still lack sustain |
| global | still lack sustain high degre | global | coordin less charit maintain high |
| global | post crisi period sad promis | global | respons replac inadequ coordin nation |
| econom | respons replac inadequ coordin nation | econom | polici grow friction among countri |
| polici | replac inadequ coordin nation econom | polici | grow friction among countri moreov |
| countri | econom polici grow friction among | countri | moreov oversimplif debat e g |
| growth | debat e g auster versus | growth | obsess corner solut tend obfusc |
| polici | corner solut tend obfusc critic | polici | nuanc play surpris impress degre |
| global | nuanc play surpris impress degre | global | coordin highlight april g meet |
| global | agenda inde iron precis success | global | coordin polici allow countri luxuri |
| polici | iron precis success global coordin | polici | allow countri luxuri return quick |
| countri | success global coordin polici allow | countri | luxuri return quick pursuit overlynarrow |
| market | quarter becam clear mani policymak | market | wrong extrapol cyclic bounc industri |
| countri | wrong extrapol cyclic bounc industri | countri | erron conclud appar recoveri develop |
| countri | structur root today policymak industri | countri | especi uk us larg bet |
| financ | uk us larg bet made | financ | find face import set challeng |
| market | earli context caution prevail domin | market | polici view post crisi industri |
| polici | context caution prevail domin market | polici | view post crisi industri economi |
| economi | polici view post crisi industri | economi | would revert recent mean instead |
| econom | recent mean instead research suggest | econom | oppos financi normal would much |
| also | extraordinari multiyear period anyth normal | also | import new normal concept attempt |
| global | happen given prevail configur nation | global | factor inherit other consequ choic |
| polici | would evolv absent signific chang | polici | busi approach littl know almost |
| market | know almost year acut skeptic | market | polici circl new normal concept |
| polici | almost year acut skeptic market | polici | circl new normal concept would |
| countri | two week ago note follow | countri | huge huge wound take time |
| countri | new normal challeng face industri | countri | outcom two interrel phenomena first |
| countri | balanc illustr excess consumpt industri | countri | leveragefuel asset bubbl inadequ risk |
| global | account issu interact accentu ongo | global | realign symptom challeng includ mute |
| econom | realign symptom challeng includ mute | econom | growth industri countri persist high |
| growth | symptom challeng includ mute econom | growth | industri countri persist high unemploy |
| countri | includ mute econom growth industri | countri | persist high unemploy increas structur |
| econom | uncertainti much greater influenc polit | econom | also show acceler migrat growth |
| also | much greater influenc polit econom | also | show acceler migrat growth wealth |
| growth | econom also show acceler migrat | growth | wealth dynam emerg world result |
| also | dynam unusu unsettl industri societi | also | affect way societi think futur |
| also | recent bank england inflat report | also | wit interest chang expect wellb |
| countri | unusu come across survey industri | countri | speak concern futur generat may |
| economi | increas evid system import emerg | economi | grow number peopl believ children |
| also | children grandchildren better live behavior | also | chang compani household industri countri |
| countri | also chang compani household industri | countri | embark greater degre self insur |
| economi | self insur phenomenon familiar emerg | economi | much less rich societi exampl |
| also | burnt hole pocket compani individu | also | take place context almost confiscatori |
| countri | overhang degre structur chang industri | countri | extent financi normal complic facilit |
| econom | extent financi normal complic facilit | econom | normal three factor shed tremend |
| countri | shed tremend light challeng industri | countri | face also explain polici frustrat |
| also | light challeng industri countri face | also | explain polici frustrat ineffect illustr |
| polici | industri countri face also explain | polici | frustrat ineffect illustr grow tension |
| econom | frustrat ineffect illustr grow tension | econom | polit inde think point blind |
| polici | inde think point blind spot | polici | market address especi consequ us |
| market | think point blind spot polici | market | address especi consequ us sever |
| growth | matter great deal level stupid | growth | rate level matter high insight |
| countri | enough peopl took heart industri | countri | general confront serious balanc sheet |
| growth | serious balanc sheet challeng prospect | growth | sluggish far assur countri abl |
| countri | prospect growth sluggish far assur | countri | abl grow way problem process |
| countri | light aspect challeng face industri | countri | today inde may insight much |
| countri | japanes comparison yes latin american | countri | chile colombia abl grow succumb |
| growth | disrupt fashion process decad worth | growth | sacrif dynam debt overhang particular |
| countri | govern debt issu peripher european | countri | eu imf provid budgetari assist |
| market | strong courag adjust program yet | market | measur risk spread remain high |
| growth | find exit process trio invest | growth | employ generat undermin condit peripher |
| economi | generat undermin condit peripher european | economi | find hard limit declin gdp |
| market | unusu sluggish function us labor | market | chang compani household behavior referenc |
| polici | referenc earlier extent compani resist | polici | measur aim push hire peopl |
| growth | peopl invest aggress realli surpris | growth | assumpt underpin mani polici action |
| polici | surpris growth assumpt underpin mani | polici | action industri countri repeat proven |
| countri | underpin mani polici action industri | countri | repeat proven optimist structur chang |
| countri | creditentitl process leav behind paradigm | countri | particular uk us inadvert bet |
| financ | us inadvert bet heavili erron | financ | natur step secular matur economi |
| economi | financ natur step secular matur | economi | climb valu ad curv agricultur |
| financ | curv agricultur industri servic final | financ | unusu period enabl mani activ |
| market | worri job broad function labor | market | look futur industri countri global |
| countri | labor market look futur industri | countri | global economi persist high unemploy |
| global | market look futur industri countri | global | economi persist high unemploy becom |
| economi | look futur industri countri global | economi | persist high unemploy becom structur |
| also | impact reach well beyond unemploy | also | make employ cautious aggrav problem |
| econom | regrett come great surpris behavior | econom | detail reason peopl institut fall |
| countri | familiar rather effect unsurpris industri | countri | find address unresolv serious challeng |
| global | past return complic alreadi fragil | global | configur one increas face mount |
| countri | challeng limit nation level emerg | countri | continu grow robust composit global |
| global | countri continu grow robust composit | global | economi shift whether use activ |
| economi | continu grow robust composit global | economi | shift whether use activ wealth |
| polici | understood happen greater openminded domin | polici | circl market industri develop economi |
| market | greater openminded domin polici circl | market | industri develop economi financi normal |
| economi | polici circl market industri develop | economi | financi normal far outpac econom |
| econom | economi financi normal far outpac | econom | normal critic spill help main |
| countri | challeng face main street industri | countri | includ feel insecur brought unemploy |
| polici | old habit develop predict given | polici | measur put place overcom bank |
| polici | place overcom bank loss target | polici | approach aim recapit bank system |
| global | deem mani politician citizen respons | global | financi crisi highlight outcom unaccept |
| economi | spill wall street normal real | economi | remain limit accentu big divid |
| also | evid main street wall street | also | small compani larg compani poor |
| also | due primarili balanc sheet issu | also | continu derisk slim bank system |
| countri | assess postcrisi reaction institut industri | countri | whether public privat sector mani |
| countri | situat persist greater difficulti industri | countri | experi reduc jobless sustain high |
| growth | experi reduc jobless sustain high | growth | strengthen safeti net overcom sovereign |
| also | net overcom sovereign risk concern | also | import rememb nation concern global |
| global | also import rememb nation concern | global | dimens also consequenti underestim today |
| also | rememb nation concern global dimens | also | consequenti underestim today system open |
| global | underestim today system open trade | global | financ face signific challeng alreadi |
| financ | today system open trade global | financ | face signific challeng alreadi wit |
| economi | alreadi wit eros promarket open | economi | anchor global economi bilater payment |
| global | eros promarket open economi anchor | global | economi bilater payment agreement surg |
| economi | promarket open economi anchor global | economi | bilater payment agreement surg currenc |
| global | partial replac help come time | global | economi need extra adapt agil |
| economi | replac help come time global | economi | need extra adapt agil note |
| need | help come time global economi | need | extra adapt agil note earlier |
| growth | seek accommod gradual multiyear migrat | growth | wealth dynam industri emerg countri |
| countri | growth wealth dynam industri emerg | countri | context continu resist wish hold |
| global | v look forwardth analysi suggest | global | economi critic junctur avert crisisinduc |
| economi | look forwardth analysi suggest global | economi | critic junctur avert crisisinduc depress |
| countri | junctur avert crisisinduc depress industri | countri | lose recoveri momentum care risk |
| growth | risk slip lost decad low | growth | high unemploy welfar destruct addit |
| global | destruct addit direct advers effect | global | growth trade slippag would complic |
| growth | addit direct advers effect global | growth | trade slippag would complic challeng |
| economi | would complic challeng key emerg | economi | face intern manag develop breakout |
| countri | breakout phase minim risk industri | countri | societi must go beyond think |
| also | must go beyond think must | also | consid absent shift activ inertia |
| also | incom distribut issu composit aspect | also | requir urgent attent within current |
| polici | polar prompt addit piecem reactiv | polici | measur onus nation govern minim |
| countri | nation govern minim risk industri | countri | face hardest challeng requir bold |
| economi | policymak compani household systemicallyimport emerg | economi | also part solut ail global |
| also | compani household systemicallyimport emerg economi | also | part solut ail global economi |
| global | economi also part solut ail | global | economi structur reform key sustain |
| economi | also part solut ail global | economi | structur reform key sustain higher |
| global | final part lectur interest better | global | outlook look credibl well function |
| global | role inform influenc design implement | global | consist reinforc nation polici think |
| polici | implement global consist reinforc nation | polici | think regard educ year spent |
| econom | analyt insight regular public world | econom | outlook global financi stabil report |
| global | regular public world econom outlook | global | financi stabil report also singletop |
| also | outlook global financi stabil report | also | singletop research recent analysi influenc |
| countri | deficit interest rate format industri | countri | imf still best place central |
| countri | imf still best place central | countri | experi exchang best practic provid |
| polici | best practic provid safe forum | polici | exchang institut virtual univers membership |
| countri | univers membership give unmatch access | countri | includ member articl iv oblig |
| also | imf uniqu place trust advisor | also | among best place put togeth |
| polici | facilit requir level intern coordin | polici | hardwir meaning peer review process |
| econom | retool staff ensur tradit focus | econom | issu supplement better understand financi |
| market | issu supplement better understand financi | market | attempt enhanc albeit margin emerg |
| economi | attempt enhanc albeit margin emerg | economi | voic represent larg increas fund |
| need | import yet unfortun imf still | need | fill grow vacuum center intern |
| global | longer gap persist greater risk | global | economi even complex issu natur |
| economi | gap persist greater risk global | economi | even complex issu natur imf |
| econom | washington dc recogn world verg | econom | meltdown togeth initi impress set |
| also | narrat interest action privat sector | also | respond compani household took step |
| global | took step navig sudden stop | global | financi flow war global depress |
| global | stop global financi flow war | global | depress won histori book report |
| countri | postcrisi period won war industri | countri | societi process lose peac inde |
| countri | absent import midcours correct industri | countri | confront prospect low growth high |
| growth | industri countri confront prospect low | growth | high unemploy increas structur natur |
| also | year make cannot overcom immedi | also | reflect excess intellectu relianc shortcut |
| countri | degre activ inertia domin industri | countri | includ difficulti shift cyclic mindset |
| also | difficulti shift cyclic mindset one | also | acknowledg issu pertain nation global |
| global | also acknowledg issu pertain nation | global | paradigm shift debt overhang increas |
| also | societi move beyond cyclic respons | also | take longer secular view multilater |
| global | ain use let us hope | global | economi respond realiti requir degre |
| economi | use let us hope global | economi | respond realiti requir degre courag |
| global | imagin purpos steadfast display deal | global | financi crisi thank attent wonder |
| polici | th bernank ben semiannu monetari | polici | report congress committe bank hous |
| growth | calvo guillermo explain sudden stop | growth | collaps bop crisi imf staff |
| also | normal observ rare realiz focus | also | tail global perspect pimco juli |
| global | rare realiz focus also tail | global | perspect pimco juli clarida richard |
| market | time august nd elerian moham | market | collid invest strategi age global |
| global | market collid invest strategi age | global | econom chang mcgraw hill elerian |
| econom | collid invest strategi age global | econom | chang mcgraw hill elerian moham |
| econom | moham e beyond brinkmanship better | econom | path us china washington post |
| econom | feder reserv bank kansa citi | econom | polici symposium volum macroeconom challeng |
| polici | reserv bank kansa citi econom | polici | symposium volum macroeconom challeng decad |
| countri | sach j debt overhang develop | countri | calvo findlay kouri braga de |
| market | guillermo calvo analyz dynam emerg | market | crise e g calvo calvo |
| market | al anoth illustr extent emerg | market | tool shed light recent experi |
| countri | shed light recent experi industri | countri | someth come back later bernank |
| also | york buffet put follow interview | also | note biggest thing go american |
| economi | note biggest thing go american | economi | actual regen capac american capit |
| also | character unusu uncertain outlook see | also | carney bank england shown chart |
| financ | macedo fact mani use term | financ | rather financi servic speak loud |
| economi | grew beyond could sustain real | economi | elerian b elerian elerian exampl |
| growth | appreci compound two decad mute | growth | deflat exampl think current brinkmanship |
| global | yes recoveri look data see | global | level growth come back know |
| growth | look data see global level | growth | come back know recoveri fragil |
| countri | go rather well even africa | countri | subsaharan africa return growth much |
| growth | africa countri subsaharan africa return | growth | much faster past previous global |
| global | growth much faster past previous | global | crisi delay someth like year |
| countri | delay someth like year african | countri | would catch time didn happen |
| economi | ratio increas lot especi advanc | economi | forecast start averag percent gdp |
| economi | gdp crisi debt ratio advanc | economi | go increas percent gdp increas |
| growth | percentag point most due low | growth | expenditur link rescu financi sector |
| econom | rescu financi sector lack revenu | econom | downturn onetenth come direct stimulus |
| growth | biggest threat fiscal sustain low | growth | medium term messag clear countri |
| countri | growth medium term messag clear | countri | especi advanc economi high level |
| economi | messag clear countri especi advanc | economi | high level debt go back |
| market | fiscal sustain mean plan announc | market | believ govern commit go back |
| countri | bit difficult depend lot situat | countri | countri edg cliff choic fix |
| countri | difficult depend lot situat countri | countri | edg cliff choic fix fiscal |
| countri | one percent averag mean depend | countri | depend specif countri rather differ |
| countri | mean depend countri depend specif | countri | rather differ nobodi would expect |
| growth | imf doesn know exact push | growth | push fiscal retrench messag clear |
| need | messag clear consist medium term | need | fiscal sustain everyth done go |
| growth | room still avail use boost | growth | go fiscal sustain growth second |
| growth | boost growth go fiscal sustain | growth | second downsid risk jobless recoveri |
| growth | second downsid risk jobless recoveri | growth | fine growth may enough growth |
| growth | risk jobless recoveri growth fine | growth | may enough growth without job |
| growth | growth fine growth may enough | growth | without job mani countri either |
| countri | enough growth without job mani | countri | either growth high enough decreas |
| growth | without job mani countri either | growth | high enough decreas unemploy growth |
| growth | growth high enough decreas unemploy | growth | high high product impact unemploy |
| need | high product impact unemploy low | need | go growth also need go |
| growth | impact unemploy low need go | growth | also need go job crisi |
| also | unemploy low need go growth | also | need go job crisi global |
| need | low need go growth also | need | go job crisi global economi |
| global | also need go job crisi | global | economi lost million job top |
| economi | need go job crisi global | economi | lost million job top come |
| market | million peopl go enter labor | market | face risk lost generat lose |
| need | without job doesn mean much | need | go sustain growth also need |
| growth | mean much need go sustain | growth | also need go job third |
| also | much need go sustain growth | also | need go job third downsid |
| need | need go sustain growth also | need | go job third downsid risk |
| market | know crisi began origin hous | market | unit state know lot promis |
| also | pittsburgh well london first pittsburgh | also | toronto say won see problem |
| also | question regul certain regul import | also | need better supervis may best |
| need | regul certain regul import also | need | better supervis may best rule |
| need | rule want supervis implement noth | need | supervis tri prevent futur crise |
| also | supervis tri prevent futur crise | also | need crisi resolut mechan nobodi |
| need | tri prevent futur crise also | need | crisi resolut mechan nobodi would |
| need | promis lot haven deliv enough | need | go growth need go job |
| growth | haven deliv enough need go | growth | need go job also need |
| need | deliv enough need go growth | need | go job also need go |
| also | go growth need go job | also | need go chang financi sector |
| need | growth need go job also | need | go chang financi sector let |
| countri | wrong idea idea mani may | countri | go back domest problem pay |
| global | lead bad situat domest solut | global | problem understand individu countri face |
| countri | solut global problem understand individu | countri | face huge capit inflow want |
| countri | sourc instabl possibl bubbl blame | countri | tri one shot limit influenc |
| need | capit inflow cannot longlast solut | need | cooper monetari side intern monetari |
| countri | precautionari credit line tri help | countri | avoid build reserv process creat |
| polici | spillov report analyz better consequ | polici | taken one countri rest world |
| countri | better consequ polici taken one | countri | rest world way show linkag |
| economi | world way show linkag differ | economi | much bigger also tri analysi |
| also | linkag differ economi much bigger | also | tri analysi prepar g mutual |
| polici | togeth winwin process show correct | polici | everybodi better percent global growth |
| global | correct polici everybodi better percent | global | growth five year won thirti |
| growth | polici everybodi better percent global | growth | five year won thirti million |
| growth | work togeth insist afraid better | growth | global level idea absolut need |
| global | togeth insist afraid better growth | global | level idea absolut need global |
| need | growth global level idea absolut | need | global world work togeth may |
| global | global level idea absolut need | global | world work togeth may lose |
| need | work togeth may lose steam | need | initi system stabil certain need |
| need | need initi system stabil certain | need | go sustain growth go job |
| growth | stabil certain need go sustain | growth | go job go chang financi |
| need | job go chang financi sector | need | go cooper enough probabl good |
| need | cooper enough probabl good part | need | exit crisi wood enough probabl |
| growth | probabl re face bigger chang | growth | model crisi one everybodi know |
| countri | someth never happen histori mankind | countri | big proprietari technolog abl keep |
| countri | keep power domin world even | countri | big european countri u still |
| countri | world even countri big european | countri | u still situat never happen |
| countri | special period histori rule larg | countri | like stronger small countri mani |
| countri | larg countri like stronger small | countri | mani consequ growth model mean |
| growth | stronger small countri mani consequ | growth | model mean need think new |
| need | mani consequ growth model mean | need | think new sourc growth includ |
| growth | mean need think new sourc | growth | includ green growth mean think |
| growth | new sourc growth includ green | growth | mean think rebalanc structur growth |
| growth | growth mean think rebalanc structur | growth | privat part growth public part |
| growth | rebalanc structur growth privat part | growth | public part growth mean need |
| growth | privat part growth public part | growth | mean need also work rebalanc |
| need | growth public part growth mean | need | also work rebalanc surplus countri |
| also | public part growth mean need | also | work rebalanc surplus countri deficit |
| countri | need also work rebalanc surplus | countri | deficit countri mean need enhanc |
| countri | work rebalanc surplus countri deficit | countri | mean need enhanc cooper govern |
| need | surplus countri deficit countri mean | need | enhanc cooper govern last point |
| need | govern necessari multilater institut help | need | need legitim legitim need reflect |
| need | necessari multilater institut help need | need | legitim legitim need reflect chang |
| need | help need need legitim legitim | need | reflect chang mention mean balanc |
| economi | time make choic take account | economi | whole economi center respons whole |
| economi | choic take account economi whole | economi | center respons whole countri border |
| countri | whole economi center respons whole | countri | border intern system want come |
| global | imf must take respons stabil | global | economi re work re total |
| economi | must take respons stabil global | economi | re work re total secret |
| need | recogn crisi imf prove relev | need | prove legitimaci done think realli |
| global | new institut help build new | global | new world accomplish need work |
| need | new global new world accomplish | need | work togeth want restor confid |
| need | want restor confid uncertain world | need | work togeth want put peopl |
| need | want put peopl back work | need | work togeth want build better |
| need | better safer world children grandchildren | need | work togeth annual meet certain |
| global | particip discuss share fund view | global | financi govern crisi recent past |
| countri | agenda emerg leadership advanc emerg | countri | member g aim address shortcom |
| countri | rule level play field across | countri | sector implement program reform farreach |
| global | implement program reform farreach implic | global | financ world economi financi crisi |
| financ | program reform farreach implic global | financ | world economi financi crisi sinc |
| economi | farreach implic global financ world | economi | financi crisi sinc great depress |
| market | depress led widespread disloc financi | market | advers consequ growth thus imper |
| growth | disloc financi market advers consequ | growth | thus imper initi rapid sizabl |
| financ | financi system suffici dynam innov | financ | solid stabl growth imf collabor |
| growth | dynam innov financ solid stabl | growth | imf collabor bis financi stabil |
| polici | landscap fund view financi regulatori | polici | aim ensur financi intermedi gear |
| need | financi intermedi gear toward serv | need | real economi competit financi system |
| economi | gear toward serv need real | economi | competit financi system better govern |
| market | institut transpar corpor structur instrument | market | less leverag complex institut higher |
| global | leav smaller system risk footprint | global | coordin framework resolv institut even |
| global | comparison precrisi situat rais resili | global | bank system howev still much |
| global | much accomplish period ahead particular | global | financi system stabil econom recoveri |
| econom | particular global financi system stabil | econom | recoveri take hold shorter phasein |
| also | asset capit consid compar rule | also | extend nonbank financi instituion pose |
| need | pose system risk meantim supervisor | need | remain dilig guard excess risk |
| need | take time divers financi system | need | assess impact propos measur underscor |
| need | propos measur underscor import reconcil | need | demonstr quick action need ensur |
| need | reconcil need demonstr quick action | need | ensur regulatori solut achiev intend |
| also | without unintend effect financi stabil | also | import ensur total impact reform |
| polici | pushback compromis critic junctur difficult | polici | choic made keep reform agenda |
| need | agenda right path go forward | need | keep focus reform agenda follow |
| global | ensur level play field regul | global | coordin need reap benefit global |
| need | play field regul global coordin | need | reap benefit global financ minim |
| global | global coordin need reap benefit | global | financ minim scope regulatori arbitrag |
| financ | coordin need reap benefit global | financ | minim scope regulatori arbitrag could |
| global | scope regulatori arbitrag could damag | global | financi stabil second need macroprudenti |
| need | damag global financi stabil second | need | macroprudenti framework supplement exist microprudenti |
| market | risk stem interconnected institut instrument | market | procycl lend behavior third reform |
| countri | financi sector standard found mani | countri | good rule book often lag |
| polici | new financi structur laid public | polici | would key success implement new |
| econom | tabl univers membership track record | econom | financi surveil strong capabl assess |
| countri | good practic substanti experi assist | countri | deal financi econom crise univers |
| econom | experi assist countri deal financi | econom | crise univers membership imf uniqu |
| global | propos nation relev intern consist | global | world consist implement intern financi |
| need | view much progress made far | need | go forward believ comprehens reform |
| global | reform agre implement farreach implic | global | financi system perform world economi |
| economi | global financi system perform world | economi | furthermor part financi sector assess |
| countri | assess program fsap provid advic | countri | host financi area includ regul |
| countri | regul fsap comprehens indepth analysi | countri | financi sector sinc introduc countri |
| countri | countri financi sector sinc introduc | countri | particip program mani includ asia |
| countri | underway pipelin includ almost g | countri | focus financi assess twofold measur |
| growth | financi sector assess potenti contribut | growth | develop may awar complet first |
| global | commit intern reform agenda preserv | global | financi stabil encourag policymak keep |
| econom | provid solid foundat stabl sustain | econom | growth |
| growth | solid foundat stabl sustain econom | growth | |
| global | opportun discuss today progress date | global | financi sector reform cours topic |
| global | dtcc vice versa import element | global | financi infrastructur dtcc direct involv |
| global | financi infrastructur dtcc direct involv | global | reform effort organ among mani |
| need | thing provid central counterparti inform | need | effect clear overthecount deriv function |
| also | increas import near futur dtcc | also | act import data repositori help |
| market | help form essenti foundat effect | market | oversight remark today discuss imf |
| global | remark today discuss imf view | global | econom outlook turn princip focus |
| econom | today discuss imf view global | econom | outlook turn princip focus assess |
| global | princip focus assess progress date | global | financi sector reform effort view |
| also | unpreced financi reform effort underway | also | recal stake financi sector failur |
| global | recess failur speed impact propag | global | still shock sure awar bynow |
| econom | sure awar bynow convent wisdom | econom | downturn accompani financi crise deeper |
| growth | downturn typic trigger overh demand | growth | acceler inflat worrisom conclus deriv |
| also | worrisom conclus deriv research other | also | appear reason commonsens point view |
| polici | speed strength recoveri third key | polici | challeng confront today differ past |
| global | rekindl demand fourth final degre | global | econom financi interconnected mandat order |
| econom | demand fourth final degre global | econom | financi interconnected mandat order success |
| econom | order success effort policyl remedi | econom | financi challeng work best coher |
| global | challeng work best coher consist | global | level postrecess global outlookturn imf |
| global | coher consist global level postrecess | global | outlookturn imf staff manag view |
| global | imf staff manag view nearterm | global | econom financi prospect moment bit |
| econom | staff manag view nearterm global | econom | financi prospect moment bit awkward |
| econom | semiannu flagship forecast public world | econom | outlook global financi stabil report |
| global | forecast public world econom outlook | global | financi stabil report slate public |
| global | base case outlook continu moder | global | recoveri first half year global |
| global | global recoveri first half year | global | growth reach annual rate actual |
| growth | recoveri first half year global | growth | reach annual rate actual bit |
| economi | stronger expect particular notabl emerg | economi | growth annual rate recent develop |
| growth | expect particular notabl emerg economi | growth | annual rate recent develop howev |
| growth | rate recent develop howev indic | growth | slow year second half sluggish |
| global | half sluggish persist earli thus | global | expans like fall somewhat short |
| economi | slowdown temporari downsid risk advanc | economi | growth evid includ risk renew |
| growth | temporari downsid risk advanc economi | growth | evid includ risk renew strain |
| market | risk renew strain sovereign debt | market | could trigger new round pressur |
| economi | financi strain could spill real | economi | addit weak real properti market |
| market | economi addit weak real properti | market | could similar impact especi consid |
| economi | deleverag process still underway mani | economi | privat individu busi key point |
| growth | open path toward stronger sustain | growth | need make meaning dent current |
| need | path toward stronger sustain growth | need | make meaning dent current high |
| economi | high rate unemploy mani advanc | economi | includ unit state global polici |
| global | advanc economi includ unit state | global | polici respons junctur three broad |
| polici | economi includ unit state global | polici | respons junctur three broad observ |
| global | three broad observ order first | global | crisi met unpreced global polici |
| global | first global crisi met unpreced | global | polici respons includ creation g |
| polici | global crisi met unpreced global | polici | respons includ creation g leader |
| econom | impetus cooper approach address princip | econom | financi challeng concret result g |
| growth | implement framework strong sustain balanc | growth | promulg septemb pittsburgh leader summit |
| market | board fsb brought key emerg | market | economi direct financi reform process |
| economi | fsb brought key emerg market | economi | direct financi reform process imf |
| economi | widespread understand frustrat sluggish advanc | economi | recoveri notabl progress made mani |
| need | standard basel iii agre month | need | make real progress financi reform |
| growth | under goal strong sustain balanc | growth | secur financi reform assess forwardlook |
| growth | engend confid support renew credit | growth | requir recoveri ensu expans understand |
| growth | difficulti boost capit inhibit credit | growth | happili analysi suggest world econom |
| econom | growth happili analysi suggest world | econom | outlook forecast less correct shorter |
| need | risk manag system thus care | need | taken system import financi institut |
| need | defin sifi aid process much | need | done howev anoth conclus crisi |
| need | howev anoth conclus crisi regul | need | take account system issu impact |
| need | abil bear risk word regul | need | encompass macroprudenti consider despit broad |
| econom | charg help establish sustain intern | econom | financi stabil challeng develop macro |
| need | went undetect els understood cours | need | strengthen supervis relev broader financi |
| growth | effort underway improv cooper intern | growth | crossbord exposur made clear improv |
| need | larg crossbord firm demonstr clear | need | effect polici procedur purpos establish |
| polici | firm demonstr clear need effect | polici | procedur purpos establish effect resolut |
| global | reduc moral hazard help bolster | global | financi stabil ideal mechan would |
| countri | agreement among relat small set | countri | home relev crossbord financi institut |
| countri | agre broad principl burdenshar across | countri | given complex crossbord resolut issu |
| countri | develop resolut mechan made individu | countri | level howev exampl unit kingdom |
| growth | sector abil contribut strong stabl | growth | fact imf recent conclud first |
| market | conclud briefli address challeng strengthen | market | infrastructur mention earlier first step |
| market | approach macroprudenti issu identifi institut | market | reason view system goal advanc |
| polici | reason view system goal advanc | polici | dialogu area imf partnership bis |
| financ | collect system levi could use | financ | resolut fund exist resolut fund |
| market | debt equiti could caus advers | market | dynam therebi induc increas system |
| market | would base convers trigger combin | market | condit supervisori stress test howev |
| need | event occur sure analyt work | need | area case conting capit view |
| econom | regardless specif may generat larger | econom | effici loss also subject regulatori |
| also | generat larger econom effici loss | also | subject regulatori arbitrag broad area |
| need | conting capit requir restraint busi | need | infrastructur challengeon element explicit part |
| need | part g four pillar structur | need | wellfunct market infrastructur confid trade |
| market | four pillar structur need wellfunct | market | infrastructur confid trade contract honor |
| market | seen fair critic compon success | market | economi case financi market transact |
| economi | fair critic compon success market | economi | case financi market transact take |
| market | success market economi case financi | market | transact take place via repositori |
| market | improv transpar otc deriv secur | market | work well otc deriv transact |
| market | import despit mani posit aspect | market | infrastructur reform institutionspecif reform legisl |
| need | type deriv bank compar margin | need | post ccps transact decid whether |
| polici | intern bank confer macroprudenti regulatori | polici | joint organ feder reserv bank |
| also | reserv bank chicago behalf fund | also | would like extend gratitud compliment |
| need | prepar confer intern audienc perhap | need | belabor first point let nevertheless |
| global | nevertheless note present crisi truli | global | financi institut global connect across |
| global | crisi truli global financi institut | global | connect across bank nonbank anticip |
| market | safe haven appar time financi | market | inde global inform convey transmit |
| global | appar time financi market inde | global | inform convey transmit across world |
| global | spillov occur matter minut hour | global | natur crisi impli solut need |
| need | global natur crisi impli solut | need | global well introductori remark would |
| global | natur crisi impli solut need | global | well introductori remark would like |
| global | focus intern dimens macroprudenti regul | global | market safeti sound individu financi |
| market | intern dimens macroprudenti regul global | market | safeti sound individu financi firm |
| global | stabil nation level necessarili add | global | financi stabil sinc onset crisi |
| global | success stori intern cooper enhanc | global | financi stabil financi market regul |
| market | enhanc global financi stabil financi | market | regul build polici level sheer |
| polici | stabil financi market regul build | polici | level sheer intens crisi help |
| polici | cooper g summit process take | polici | lead financi stabil board establish |
| polici | financi stabil board establish enhanc | polici | coordin regulatori field institut seen |
| global | financi resourc deal crisi strengthen | global | financi safeti net innov fund |
| polici | precautionari credit line member sound | polici | nevertheless may meet fcl high |
| market | european central bank support financi | market | came sever pressur last may |
| global | arrang put place crisi support | global | market liquid still good today |
| market | put place crisi support global | market | liquid still good today yet |
| also | strong intern collabor still crisi | also | highlight import weak crossbord coordin |
| need | area capit liquid buffer bank | need | done broader reform agenda effect |
| global | broader reform agenda effect supervis | global | financi firm move forward well |
| need | forward well establish supervisori colleg | need | assur adequ resourc incent place |
| global | agenc effect execut job overse | global | interconnect firm well framework resolut |
| countri | area hope convinc small number | countri | home crossbord financi institut adopt |
| need | pose system import financi institut | need | global consist order achiev level |
| global | system import financi institut need | global | consist order achiev level regulatori |
| need | import financi institut sifi defin | need | address system risk collect generat |
| need | discuss next two day similar | need | tackl excess procycl global level |
| global | similar need tackl excess procycl | global | level financi busi cycl synchron |
| countri | financi busi cycl synchron across | countri | polici address procycl one jurisdict |
| polici | busi cycl synchron across countri | polici | address procycl one jurisdict help |
| polici | procycl one jurisdict help hinder | polici | anoth market rule central counterparti |
| market | jurisdict help hinder polici anoth | market | rule central counterparti clear overthecount |
| need | central counterparti clear overthecount deriv | need | ensur interoper imped strong minimum |
| also | harmon burden share failur resolut | also | term interact monetari polici regulatori |
| polici | resolut also term interact monetari | polici | regulatori reform take care recogn |
| also | recogn regul must nation appropri | also | need intern consist experi show |
| need | regul must nation appropri also | need | intern consist experi show financi |
| global | intern consist experi show financi | global | world uneven regul across border |
| countri | inevit lead migrat riskier activ | countri | lightest requir endang global financi |
| global | activ countri lightest requir endang | global | financi system conclud time move |
| polici | definit macroprudenti object consid practic | polici | option sever key domain like |
| global | macroprudenti govern view adequ design | global | macroprudenti framework essenti ensur last |
| growth | financi stabil support strong sustain | growth | confid confer help us move |
| econom | contribut inform decisionmak critic area | econom | polici area import urgent reform |
| polici | inform decisionmak critic area econom | polici | area import urgent reform architectur |
| also | tax measur final would like | also | reflect briefli reaction imf report |
| countri | system risk affect largest advanc | countri | deep financi system second buildup |
| global | second buildup occur period solid | global | growth price stabil lull mani |
| growth | buildup occur period solid global | growth | price stabil lull mani complac |
| market | lull mani complac except confound | market | particip polici maker regul intern |
| polici | complac except confound market particip | polici | maker regul intern financi institut |
| countri | alreadi firmer surveil must extend | countri | equal even consid pose low |
| market | excess risk take institut key | market | reli increas shortterm wholesal fund |
| market | crisi unfold three financi system | market | becam heavili interconnect domest global |
| global | market becam heavili interconnect domest | global | shock rapid propag across countri |
| countri | global shock rapid propag across | countri | across market crisi ingredi go |
| market | rapid propag across countri across | market | crisi ingredi go global fast |
| global | across market crisi ingredi go | global | fast much happen distort even |
| market | littl incent act earli enough | market | difficulti exert disciplin given inadequ |
| need | ensur competit financi system serv | need | real economi bettergovern transpar compris |
| economi | financi system serv need real | economi | bettergovern transpar compris institut endow |
| market | perimet extend includ import institut | market | instrument enabl institut especi system |
| global | set reform term depth breadth | global | consist much progress alreadi made |
| polici | effect resolut regim sound macroeconom | polici | critic attain financi stabil time |
| global | pressur bank system real sector | global | financi system stabil world economi |
| economi | global financi system stabil world | economi | get back recoveri track one |
| also | develop agenda contribut idea analysi | also | undertak mani level followup implement |
| need | undertak mani level followup implement | need | bilater multilater surveil analyt data |
| financ | system borrow rather use equiti | financ | impli deduct corpor tax interest |
| financ | return equiti tax incent debt | financ | trigger crisi sure cannot ignor |
| also | precis direct excess leverag question | also | aris whether exempt mani financi |
| countri | establish tax practic encourag experi | countri | tri report g also propos |
| also | experi countri tri report g | also | propos new instrument financi activ |
| countri | direct fiscal intervent modest mani | countri | time cannot take much comfort |
| also | failur crise never recur would | also | foolish even perfect reform regulatori |
| economi | convey strong extern benefit wider | economi | crisi made appar distress failur |
| also | appar distress failur financi institut | also | caus larg negat extern advers |
| economi | advers impact institut wider real | economi | mani area econom life economist |
| econom | wider real economi mani area | econom | life economist prefer deal extern |
| financ | unproduct activ financi sector sourc | financ | develop object concern beyond mandat |
| need | area relat merit taxat regul | need | care consider taxat retain flexibl |
| countri | final reaction report g sever | countri | cours adopt announc measur broad |
| countri | u k indic last month | countri | oppos new tax measur especi |
| countri | respons understand may potenti shortsight | countri | think immun futur financi failur |
| countri | inde right answer differ across | countri | accord differ circumst experi prioriti |
| also | look forward live exchang let | also | express behalf us thank emmanuel |
| market | staff fiscal affair monetari capit | market | research depart imf headquart hard |
| growth | sens urgenc crisi saw strong | growth | macroeconom stabil develop countri driven |
| countri | strong growth macroeconom stabil develop | countri | driven main good homegrown polici |
| polici | countri driven main good homegrown | polici | support enabl intern environ translat |
| also | ground optim crisi financi crisi | also | food fuel crisi lost year |
| global | everyth hing restor balanc sustain | global | growth without effort achiev millennium |
| growth | hing restor balanc sustain global | growth | without effort achiev millennium develop |
| need | rapid advanc tide regain momentum | need | sens share respons various actor |
| countri | share respons various actor develop | countri | advanc economi intern institut advanc |
| economi | various actor develop countri advanc | economi | intern institut advanc economi inde |
| economi | advanc economi intern institut advanc | economi | inde lead emerg market focus |
| market | advanc economi inde lead emerg | market | focus first foremost secur sustain |
| global | focus first foremost secur sustain | global | recoveri get growth engin run |
| growth | secur sustain global recoveri get | growth | engin run analysi undertaken imf |
| economi | shown cooper action world major | economi | could produc real result boost |
| growth | produc real result boost world | growth | Â ½ percentag point five |
| economi | affect peopl live cours advanc | economi | help way keep gleneagl promis |
| also | way keep gleneagl promis aid | also | open trade inde trade one |
| countri | trade one import way advanc | countri | help lowincom neighbor without budgetari |
| growth | export abil unleash wave product | growth | develop countri develop countri must |
| countri | unleash wave product growth develop | countri | develop countri must also help |
| countri | product growth develop countri develop | countri | must also help mean build |
| also | develop countri develop countri must | also | help mean build past success |
| econom | levi good time abl lessen | econom | hardship crisi arriv fiscal room |
| economi | room sometim monetari room support | economi | help vulner peopl withstand shock |
| polici | peopl withstand shock must rebuild | polici | buffer readi next shock includ |
| growth | strengthen social safeti net acceler | growth | protect poor vulner intern financi |
| also | vulner intern financi institut must | also | play part crisi imf rapid |
| growth | streamlin condit effort design support | growth | sustain propoor inclus growth prioriti |
| growth | support growth sustain propoor inclus | growth | prioriti let conclud un imf |
| econom | found wake second world war | econom | conflict turn real conflict leav |
| econom | welfar mandat imf might begin | econom | stabil end much greater goal |
| global | world fulfil mandat mani fellow | global | citizen remain margin without access |
| polici | develop goal central issu intern | polici | agenda addit today event manag |
| need | prepar background paper macroeconom foundat | need | attain mdgs indulg would like |
| also | poverti half univers primari educ | also | seem within reach even crisi |
| global | fragil state particular left behind | global | financi crisi ensu great recess |
| growth | posit momentum derail import lost | growth | mean delay prospect poverti reduct |
| growth | key social indic made possibl | growth | suffer nonetheless must put global |
| global | growth suffer nonetheless must put | global | economi back track progress mdgs |
| economi | suffer nonetheless must put global | economi | back track progress mdgs must |
| global | task attain strong sustain balanc | global | growth restor macroeconom stabil benefici |
| growth | attain strong sustain balanc global | growth | restor macroeconom stabil benefici boost |
| growth | restor macroeconom stabil benefici boost | growth | develop countri without meet tripl |
| countri | stabil benefici boost growth develop | countri | without meet tripl target strong |
| growth | tripl target strong sustain balanc | growth | prospect achiev millennium develop goal |
| global | prior current crisi combin strong | global | growth improv polici develop countri |
| growth | current crisi combin strong global | growth | improv polici develop countri produc |
| polici | combin strong global growth improv | polici | develop countri produc acceler growth |
| countri | global growth improv polici develop | countri | produc acceler growth economi togeth |
| growth | polici develop countri produc acceler | growth | economi togeth tumbl poverti rate |
| economi | develop countri produc acceler growth | economi | togeth tumbl poverti rate advanc |
| polici | advanc social indic improv basic | polici | includ strengthen budget posit declin |
| growth | produc tangibl result term rapid | growth | stronger growth turn help provid |
| growth | result term rapid growth stronger | growth | turn help provid incent wherewith |
| countri | help process precrisi year lowincom | countri | enjoy longest broadest econom expans |
| econom | lowincom countri enjoy longest broadest | econom | expans modern histori includ record |
| growth | expans modern histori includ record | growth | rate previous lag region subsaharan |
| countri | creat major setback nonetheless develop | countri | abl build enough polici protect |
| polici | develop countri abl build enough | polici | protect good year damag crisi |
| polici | far less might reflect exist | polici | buffer lowincom countri abl first |
| countri | reflect exist polici buffer lowincom | countri | abl first time use countercycl |
| polici | abl first time use countercycl | polici | limit impact serious extern downturn |
| countri | fiscal space establish mani lowincom | countri | realist abl preserv public spend |
| countri | spend rose real term lowincom | countri | subsaharan africa develop countri respons |
| countri | lowincom countri subsaharan africa develop | countri | respons one bright spot wake |
| need | damag key mdgs good news | need | keep thing perspect crisi made |
| need | best resum progress toward mdgs | need | speedi return precrisi path rapid |
| growth | speedi return precrisi path rapid | growth | especi propoor growth inclus growth |
| growth | path rapid growth especi propoor | growth | inclus growth share responsibilityto get |
| growth | growth especi propoor growth inclus | growth | share responsibilityto get must sens |
| countri | must sens share respons develop | countri | well emerg advanc economi intern |
| economi | develop countri well emerg advanc | economi | intern institut includ imf togeth |
| need | imf togeth region bilater partner | need | play appropri support role first |
| economi | role first foremost advanc emerg | economi | must continu focus secur sustain |
| global | must continu focus secur sustain | global | recoveri present recoveri proceed although |
| economi | present recoveri proceed although advanc | economi | recoveri better moder downsid risk |
| global | appar emphas mani time satisfactori | global | recoveri requir rebalanc two dimens |
| economi | two dimens first primaci advanc | economi | growth need pass back success |
| growth | dimens first primaci advanc economi | growth | need pass back success privat |
| need | first primaci advanc economi growth | need | pass back success privat sector |
| growth | success privat sector public demand | growth | scale back second relat focus |
| growth | back second relat focus demand | growth | rebalanc surplus deficit economi word |
| economi | demand growth rebalanc surplus deficit | economi | word economi exhibit sustain extern |
| economi | rebalanc surplus deficit economi word | economi | exhibit sustain extern surplus need |
| need | economi exhibit sustain extern surplus | need | find way spur domest demand |
| growth | find way spur domest demand | growth | perhap case enhanc social safeti |
| need | social safeti net larg deficit | need | reli relat previous net export |
| global | financi sector necessari condit restor | global | growth serious challeng met success |
| growth | sector necessari condit restor global | growth | serious challeng met success must |
| growth | produc real result boost world | growth | Â ½ percentag point five |
| economi | mantra outcom stake cours advanc | economi | help way well even tight |
| financ | gleneagl promis aid kept help | financ | massiv infrastructur need respons climat |
| need | kept help financ massiv infrastructur | need | respons climat chang develop countri |
| countri | need respons climat chang develop | countri | advanc countri also support trade |
| countri | climat chang develop countri advanc | countri | also support trade dismantl wall |
| also | chang develop countri advanc countri | also | support trade dismantl wall block |
| countri | dismantl wall block export poorer | countri | demonstr commiss growth develop openeconomi |
| growth | export poorer countri demonstr commiss | growth | develop openeconomi polici underpin everi |
| polici | demonstr commiss growth develop openeconomi | polici | underpin everi exampl sustain rapid |
| growth | underpin everi exampl sustain rapid | growth | develop economi export abil unleash |
| economi | exampl sustain rapid growth develop | economi | export abil unleash wave product |
| growth | export abil unleash wave product | growth | develop countri conclus doha round |
| countri | unleash wave product growth develop | countri | conclus doha round would repres |
| need | round would repres key step | need | wait richer countri could act |
| countri | key step need wait richer | countri | could act grant full dutyfre |
| market | act grant full dutyfre quotafre | market | access poorest countri unblock global |
| countri | dutyfre quotafre market access poorest | countri | unblock global agricultur market inde |
| global | market access poorest countri unblock | global | agricultur market inde trade one |
| market | poorest countri unblock global agricultur | market | inde trade one import way |
| countri | trade one import way advanc | countri | help lowincom neighbor without budgetari |
| countri | neighbor without budgetari cost advanc | countri | also redoubl effort help fragil |
| also | without budgetari cost advanc countri | also | redoubl effort help fragil state |
| countri | help fragil state help move | countri | beyond fragil toward develop potenti |
| countri | financi technic assist cours develop | countri | polici critic restor strong growth |
| polici | technic assist cours develop countri | polici | critic restor strong growth make |
| growth | countri polici critic restor strong | growth | make growth resili futur shock |
| growth | critic restor strong growth make | growth | resili futur shock includ measur |
| need | measur address enorm infrastructur deficit | need | build institut capac invest effect |
| growth | save strengthen financi system make | growth | resili futur shock countri need |
| countri | make growth resili futur shock | countri | need rebuild polici buffer serv |
| need | growth resili futur shock countri | need | rebuild polici buffer serv well |
| polici | futur shock countri need rebuild | polici | buffer serv well recent crisi |
| need | buffer serv well recent crisi | need | invest effect social safeti net |
| also | imffin intern financi institut must | also | play part respect area expertis |
| global | respect area expertis imf focus | global | macroeconom financi stabil necessari precondit |
| econom | provid temporari financi support allevi | econom | social hardship larger scale ever |
| polici | made lend program flexibl streamlin | polici | condit support countercycl fiscal polici |
| polici | polici condit support countercycl fiscal | polici | advoc protect social spend introduc |
| need | lend facil better reflect divers | need | divers countri adopt flexibl approach |
| countri | better reflect divers need divers | countri | adopt flexibl approach debt give |
| countri | adopt flexibl approach debt give | countri | lower debt vulner greater capac |
| need | especi import meet vital infrastructur | need | look ahead commit help develop |
| countri | look ahead commit help develop | countri | maintain macroeconom stabil achiev higher |
| growth | maintain macroeconom stabil achiev higher | growth | reduc poverti continu provid focus |
| polici | reduc poverti continu provid focus | polici | advic financi support help countri |
| countri | polici advic financi support help | countri | develop strategi scale invest borrow |
| polici | assist support capac build sound | polici | must built sound foundat three |
| global | train conclusiona note outset import | global | challeng today meet millennium develop |
| need | meet millennium develop goal first | need | solid foundat rapid reliabl growth |
| growth | need solid foundat rapid reliabl | growth | foundat social progress built energet |
| polici | prepar deliverymarket | polici | failur global crisisin retrospect seem |
| global | prepar deliverymarket polici failur | global | crisisin retrospect seem clear speed |
| global | retrospect seem clear speed sever | global | financi crisi ensu great recess |
| market | great recess repres power confluenc | market | polici failur crisi erupt vulner |
| polici | recess repres power confluenc market | polici | failur crisi erupt vulner imbal |
| global | previous two decad year sustain | global | growth low inflat burgeon capit |
| growth | two decad year sustain global | growth | low inflat burgeon capit market |
| market | growth low inflat burgeon capit | market | could longer contain grow vulner |
| market | vulner turn reflect progress breakdown | market | disciplin regulatori flaw inconsist econom |
| econom | market disciplin regulatori flaw inconsist | econom | polici along sever dimens earlier |
| polici | disciplin regulatori flaw inconsist econom | polici | along sever dimens earlier complac |
| econom | gave way extrem concern financi | econom | respons turn virul impact spread |
| global | respons turn virul impact spread | global | unexpect speed cours epicent crisi |
| economi | epicent crisi financi sector advanc | economi | element failur market disciplin main |
| market | sector advanc economi element failur | market | disciplin main unit state europ |
| global | unanticip sever event demonstr grow | global | usher period unpreced prosper also |
| also | global usher period unpreced prosper | also | creat transmiss channel spread distress |
| market | financi distress cut swath intern | market | fourth quarter wit frighten drop |
| global | intern cooper regard among thing | global | econom financi govern see clear |
| econom | cooper regard among thing global | econom | financi govern see clear hindsight |
| financ | bilater region multilater arrang address | financ | liquid need period stress reactiv |
| need | multilater arrang address financ liquid | need | period stress reactiv ultim ad |
| polici | ultim ad hoc import macroeconom | polici | develop outsid effect collabor framework |
| growth | result substanti differ develop persist | growth | rate domest demand counterpart develop |
| polici | intern payment imbal without effect | polici | respons cours exact uplift open |
| global | area thus common threat immin | global | disast prompt dramat increas cooper |
| global | cooper set motion unpreced coordin | global | action second nearterm action grow |
| global | cooper help usher expect moder | global | recoveri third new pattern cooper |
| global | sum currenc swap line support | global | market liquid midst crisi largest |
| market | currenc swap line support global | market | liquid midst crisi largest economi |
| economi | market liquid midst crisi largest | economi | act concert also provid larg |
| also | crisi largest economi act concert | also | provid larg increas resourc avail |
| countri | among effect help cushion poorest | countri | brunt crisi moreov substanti action |
| global | moreov substanti action undertaken strengthen | global | financi safeti net therebi reduc |
| polici | cooper effort enhanc coher macroeconom | polici | formul implement goal produc stronger |
| growth | produc stronger sustain balanc intern | growth | togeth effort demonstr potenti scope |
| economi | solid albeit sluggish least advanc | economi | global recoveri underway first half |
| global | albeit sluggish least advanc economi | global | recoveri underway first half year |
| global | recoveri underway first half year | global | growth reach annual rate bit |
| growth | underway first half year global | growth | reach annual rate bit stronger |
| economi | stronger project sure awar emerg | economi | gain particular strong first half |
| growth | gain particular strong first half | growth | regist annual rate sustain strong |
| global | strong domest demand notabl recoveri | global | trade major economi emerg asia |
| economi | notabl recoveri global trade major | economi | emerg asia includ china india |
| economi | follow brazil latin america advanc | economi | expect transit inventori rebuild busi |
| growth | although consumpt remain weak overal | growth | general subdu regist annual rate |
| global | slow somewhat thus second half | global | growth like bit sluggish annual |
| growth | somewhat thus second half global | growth | like bit sluggish annual rate |
| econom | annual rate forecast latest world | econom | outlook updat way new world |
| econom | outlook updat way new world | econom | outlook weo releas earli octob |
| growth | accumul begun eas boost gdp | growth | public demand begun fade expect |
| market | speed restrain weak labor hous | market | overal euro area growth held |
| growth | hous market overal euro area | growth | held relat well far despit |
| economi | far despit sever strain smaller | economi | reflect among thing unexpect strong |
| economi | emerg asia given euro area | economi | heavi relianc bank credit contrast |
| market | much greater u relianc capit | market | corpor fund stilltight bank lend |
| countri | gain remain sluggish overal slowdown | countri | also reflect reverber stress financi |
| also | remain sluggish overal slowdown countri | also | reflect reverber stress financi market |
| market | also reflect reverber stress financi | market | trigger concern sovereign risk assuag |
| polici | though entir elimin unpreced european | polici | initi bolster imf program support |
| growth | continu expect multispe recoveri gdp | growth | remain somewhat subdu major advanc |
| economi | remain somewhat subdu major advanc | economi | relat strong emerg market anticip |
| market | advanc economi relat strong emerg | market | anticip recent slowdown temporari affect |
| global | look whole anticip transit rebound | global | trade inventori toward gradual stronger |
| economi | gradual stronger privat demand advanc | economi | remain broad track led recoveri |
| growth | downsid risk risen cours year | growth | momentum slow privat sector balanc |
| economi | sector balanc sheet mani advanc | economi | remain weak sovereign financi realestaterel |
| market | key risk turbul public debt | market | might precipit advers feedback percept |
| economi | financi strain could spill real | economi | anoth risk stem possibl renew |
| market | stem possibl renew weak properti | market | includ unit state public support |
| polici | time exit accommod monetari fiscal | polici | determin individu countri circumst general |
| countri | monetari fiscal polici determin individu | countri | circumst general howev view current |
| polici | howev view current monetari budget | polici | set broad appropri regard current |
| economi | expect howev key challeng advanc | economi | formul credibl plan substanti fiscal |
| economi | mediumterm cours current recoveri falter | economi | nearterm polici support might requir |
| polici | current recoveri falter economi nearterm | polici | support might requir thus fiscal |
| need | requir thus fiscal consolid might | need | delay case privat demand weaken |
| need | base case expect sustain recoveri | need | collect actiongiven natur various challeng |
| polici | actiongiven natur various challeng face | polici | maker first order secur recoveri |
| global | second establish robust mediumterm path | global | economi recent develop made clear |
| economi | establish robust mediumterm path global | economi | recent develop made clear collabor |
| polici | develop made clear collabor approach | polici | action would maxim chanc success |
| economi | rebalanc move intern rebalanc advanc | economi | stronger privat demand accompani fiscal |
| growth | sector retak role main engin | growth | make possibl rein burgeon public |
| countri | net export current account deficit | countri | unit state decreas net export |
| countri | state decreas net export surplus | countri | notabl emerg asia would ensur |
| global | emerg asia would ensur adequaci | global | demand consum deficit economi rebuild |
| economi | adequaci global demand consum deficit | economi | rebuild save govern contain spend |
| also | save govern contain spend would | also | rais standard live surplus economi |
| economi | also rais standard live surplus | economi | prevent reemerg global imbal success |
| global | live surplus economi prevent reemerg | global | imbal success rebalanc effort also |
| also | global imbal success rebalanc effort | also | requir action repair reform financi |
| need | still requir restor credit flow | need | support transit stronger privat demand |
| also | system residu vulner addit effort | also | requir reduc bank refinanc risk |
| need | exit extraordinari financi system support | need | care sequenc fund risk remain |
| growth | goal secur stronger sustain balanc | growth | would strengthen collabor approach macroeconom |
| polici | would strengthen collabor approach macroeconom | polici | decis forc collect action earli |
| econom | critic avoid financi meltdown potenti | econom | debacl establish coher polici recoveri |
| polici | potenti econom debacl establish coher | polici | recoveri import minim downsid risk |
| global | import minim downsid risk put | global | recoveri sustain balanc foot well |
| econom | balanc foot well ensur vigor | econom | perform medium term recogn case |
| polici | perform medium term recogn case | polici | coher cooper g leader pittsburgh |
| growth | launch framework strong sustain balanc | growth | implement via unpreced mutual assess |
| polici | g member share imf staff | polici | plan econom project next year |
| econom | share imf staff polici plan | econom | project next year taken face |
| growth | framework goal strong sustain balanc | growth | howev given under polici plan |
| polici | balanc growth howev given under | polici | plan project appear relat optimist |
| polici | conclus drawn analyz initi g | polici | framework addit effort across membership |
| need | addit effort across membership would | need | achiev share object highlight issu |
| countri | action could improv outlook bring | countri | closer share object specif assess |
| polici | specif assess impact three mutuallyreinforc | polici | approach growthfriend credibl fiscal consolid |
| economi | credibl fiscal consolid major advanc | economi | begin go beyond countri submit |
| countri | advanc economi begin go beyond | countri | submit mediumterm plan ii polici |
| polici | countri submit mediumterm plan ii | polici | aim bolster domest demand emerg |
| economi | aim bolster domest demand emerg | economi | larg extern surplus iii structur |
| market | iii structur reform labor product | market | across g countri aim boost |
| countri | labor product market across g | countri | aim boost suppli potenti reduc |
| growth | job achiev stronger sustain balanc | growth | thus second stage mutual assess |
| polici | current underway g member identifi | polici | undertak order achiev ambiti outcom |
| polici | outcom closer upsid scenario countrylevel | polici | form basi comprehens action plan |
| polici | seoul summit novemb howev macroeconom | polici | collabor area strengthen intern cooper |
| econom | superior outcom addit address under | econom | challeng three architectur issu also |
| also | econom challeng three architectur issu | also | ripe intern cooper would help |
| need | system futur intern financi system | need | made robust ambiti vigor program |
| need | system repair reform underway sore | need | agreement reach last weekend basel |
| also | calibr capit requir strengthen supervis | also | repres critic element reform agenda |
| economi | critic element reform agenda intern | economi | resili certain enhanc realism prudenc |
| need | even crise less inevit henc | need | remain strengthen global financi safeti |
| global | inevit henc need remain strengthen | global | financi safeti net build progress |
| countri | took anoth step forward enhanc | countri | insur facil extend reach broader |
| countri | facil extend reach broader set | countri | follow sound polici possess solid |
| polici | broader set countri follow sound | polici | possess solid econom fundament countri |
| econom | follow sound polici possess solid | econom | fundament countri strong polici econom |
| countri | polici possess solid econom fundament | countri | strong polici econom fundament flagship |
| polici | solid econom fundament countri strong | polici | econom fundament flagship insur option |
| econom | econom fundament countri strong polici | econom | fundament flagship insur option flexibl |
| countri | credit line fcl made adapt | countri | moder vulner fund offer new |
| polici | pcl nonetheless done area good | polici | doubt repres first line defens |
| market | crisi shown time broad financi | market | shift swamp economi creat potenti |
| economi | broad financi market shift swamp | economi | creat potenti destruct system strain |
| financ | lend surveil activ key region | financ | arrang also consid creation global |
| also | activ key region financ arrang | also | consid creation global stabil mechan |
| global | financ arrang also consid creation | global | stabil mechan framework would allow |
| econom | focus imf adequ reflect shift | econom | weight impli sustain dynam exhibit |
| economi | exhibit recent year mani emerg | economi | reform object set pittsburgh g |
| financ | set pittsburgh g summit endors | financ | minist central bank governor imf |
| countri | relat vote share imf member | countri | overal size fund quota pool |
| global | intern cooper could contribut renew | global | progress conclusionth recent crisi highlight |
| need | progress conclusionth recent crisi highlight | need | cooper implic failur brought stark |
| global | challeng remain us sustain build | global | recoveri secur basi strong sustain |
| growth | secur basi strong sustain balanc | growth | build robust global econom financi |
| global | sustain balanc growth build robust | global | econom financi infrastructur strengthen global |
| econom | balanc growth build robust global | econom | financi infrastructur strengthen global govern |
| global | global econom financi infrastructur strengthen | global | govern princip messag today progress |
| global | reason optim prospect enhanc effect | global | cooper end day support inform |
| need | differ encourag polit author show | need | commit make need effort imf |
| need | author show need commit make | need | effort imf colleagu confid case |
| polici | g mutual assess process altern | polici | scenario g toronto summit toronto |
| polici | take part import confer fiscal | polici | euro area idea present today |
| market | road prosper stabil peac integr | market | creat tremend opportun innov growth |
| growth | market creat tremend opportun innov | growth | deliv remark rise live standard |
| polici | greater good appli trade competit | polici | monetari polici extent also financi |
| polici | appli trade competit polici monetari | polici | extent also financi fiscal polici |
| also | competit polici monetari polici extent | also | financi fiscal polici wake crisi |
| polici | polici extent also financi fiscal | polici | wake crisi learn emu rule |
| countri | emu fiscal rule fail prevent | countri | run unsustain deficit trigger sever |
| econom | like give autonomi close integr | econom | monetari union nation polici must |
| polici | integr econom monetari union nation | polici | must set within framework union |
| econom | leader take bold action strengthen | econom | govern see real danger within |
| polici | offer idea strengthen europ macroeconom | polici | framework specif integr central fiscal |
| econom | framework could deliv higher stabl | econom | growth europ polici prioriti europeto |
| growth | could deliv higher stabl econom | growth | europ polici prioriti europeto provid |
| polici | higher stabl econom growth europ | polici | prioriti europeto provid context let |
| polici | context let mention quick wellknown | polici | challeng face europ today urgent |
| growth | europ today urgent task reignit | growth | tackl unemploy way take account |
| countri | precis issu recoveri take hold | countri | larg fiscal current account imbal |
| need | larg fiscal current account imbal | need | polici support growth facilit adjust |
| polici | fiscal current account imbal need | polici | support growth facilit adjust reduc |
| growth | account imbal need polici support | growth | facilit adjust reduc high public |
| need | strength recoveri avail fiscal space | need | european countri adopt credibl plan |
| countri | avail fiscal space need european | countri | adopt credibl plan mediumterm fiscal |
| also | rapid progress heal financi sector | also | critic focus beyond near term |
| growth | term key challeng boost product | growth | mani excel idea bring vital |
| need | way use implement lisbon agenda | need | macroeconom stabil strengthen emu fiscal |
| market | convict full benefit singl european | market | reap base stabl singl currenc |
| polici | must born entir nation fiscal | polici | second nation fiscal polici go |
| polici | fiscal polici second nation fiscal | polici | go astray member union must |
| polici | member union must bear cost | polici | word independ nation fiscal polici |
| polici | polici word independ nation fiscal | polici | rais risk moral hazard sorri |
| econom | stabil within european monetari union | econom | framework lack element let look |
| need | look work emu fiscal framework | need | fix sum emu speed limit |
| also | speed limit cruis speed sgp | also | explicit establish structur balanc budget |
| polici | good time strengthen potenti fiscal | polici | serv stabil tool crisi laid |
| need | creation european financi stabil facil | need | emerg roadsid assist temporarili fill |
| need | perman crisi manag framework still | need | design depend rest fiscal framework |
| polici | given greater role nation fiscal | polici | emu becom effect resili monetari |
| growth | best hit dual target stabil | growth | view would good go direct |
| countri | center could meet polit resist | countri | appetit cede control brussel alreadi |
| polici | help shape respons growthfriend fiscal | polici | euro area member see two |
| econom | enforc common fiscal rule smarter | econom | judgment play import part assess |
| econom | ceil take better account overal | econom | context fiscal polici set one |
| polici | account overal econom context fiscal | polici | set one concret excel idea |
| polici | sanction help deter weak fiscal | polici | prevent best way keep public |
| financ | prevent best way keep public | financ | good health strengthen surveil could |
| polici | peer pressur could discourag weak | polici | new initi european semest fiscal |
| financ | larger central budget would make | financ | avail tackl structur weak area |
| growth | invest educ would turn boost | growth | euro area common resourc could |
| also | euro area common resourc could | also | use incentiv favor econom structur |
| econom | could also use incentiv favor | econom | structur polici give strong perform |
| polici | use incentiv favor econom structur | polici | give strong perform enhanc access |
| financ | resourc larger central budget could | financ | european vat carbon taxat price |
| econom | crisi laid bare fundament gap | econom | govern place euro area great |
| also | great macroeconom financi risk may | also | hamper longterm growth prospect wake |
| growth | risk may also hamper longterm | growth | prospect wake major econom crisi |
| econom | longterm growth prospect wake major | econom | crisi euro area face defin |
| polici | would lead new level integr | polici | coordin see road lead far |
| growth | reform trigger virtuous cycl product | growth | emu fiscal framework ambiti road |
| econom | center chang clear essenti success | econom | monetari union reli ultim share |
| also | reli ultim share fiscal respons | also | critic restor confid europ given |
| econom | must seiz moment strengthen coordin | econom | polici fortifi institut allow us |
| polici | seiz moment strengthen coordin econom | polici | fortifi institut allow us extend |
| growth | urgent topic face policymak today | growth | job regard confer import thank |
| also | leader minist particip today would | also | like thank colleagu ilo help |
| also | world ilo strong interest job | also | macroeconom stabil imf interest macroeconom |
| also | stabil imf interest macroeconom stabil | also | job fact mandat imf global |
| global | also job fact mandat imf | global | econom financi stabil sake pave |
| econom | job fact mandat imf global | econom | financi stabil sake pave way |
| growth | sake pave way strong inclus | growth | steadi employ imf sometim portray |
| growth | interest fiscal retrench case goal | growth | job today know labor market |
| market | growth job today know labor | market | dire strait great recess left |
| countri | norway japan job loss greatest | countri | hous financi market collaps came |
| market | loss greatest countri hous financi | market | collaps came manufactur construct show |
| market | face lost generat disconnect labor | market | progress loss skill motiv human |
| economi | democraci far talk main advanc | economi | let us forget inlowincom countri |
| countri | economi let us forget inlowincom | countri | situat becom even wors without |
| need | stark realiti form backdrop confer | need | must acknowledg crisi unemploy decreas |
| growth | crisi unemploy decreas must expect | growth | alon automat creat job need |
| need | growth alon automat creat job | need | set job creation prioriti use |
| polici | job creation prioriti use avail | polici | tool need make financi system |
| need | prioriti use avail polici tool | need | make financi system effect support |
| economi | financi system effect support real | economi | need take advantag cooper imf |
| need | system effect support real economi | need | take advantag cooper imf ilo |
| global | intern cooper rule game chang | global | economi crisi crisi nutshel need |
| economi | cooper rule game chang global | economi | crisi crisi nutshel need think |
| need | global economi crisi crisi nutshel | need | think differ futur million peopl |
| global | way general recogn sourc recent | global | financi crisi involv factor inevit |
| polici | refer intern monetari system mean | polici | offici arrang relat balanc payment |
| growth | articl agreement facilit expans balanc | growth | intern trade contribut therebi promot |
| econom | resourc imf member primari object | econom | polici continu promot exchang stabil |
| polici | imf member primari object econom | polici | continu promot exchang stabil maintain |
| countri | facto dollar domin allow discret | countri | choos exchang rate regim intern |
| polici | exchang rate regim intern reserv | polici | encompass broad uneven capit mobil |
| countri | mani way particular system allow | countri | pursu domest polici object underpin |
| polici | system allow countri pursu domest | polici | object underpin extend period strong |
| growth | object underpin extend period strong | growth | global output trade time accommod |
| global | underpin extend period strong growth | global | output trade time accommod past |
| global | two decad histor emerg truli | global | system know well evolut accompani |
| countri | accompani among thing dramat shift | countri | relat econom weight reflect rapid |
| econom | thing dramat shift countri relat | econom | weight reflect rapid growth mani |
| growth | relat econom weight reflect rapid | growth | mani emerg market economi also |
| market | reflect rapid growth mani emerg | market | economi also signific system strain |
| economi | rapid growth mani emerg market | economi | also signific system strain strain |
| also | growth mani emerg market economi | also | signific system strain strain reflect |
| also | reserv cours crossbord capit flow | also | reach amount equal earlier time |
| market | innov format mani offici intern | market | particip analyst conclud system strain |
| also | crisi good reason hold view | also | worth note mani promin predict |
| also | larg support reduc imbal crisi | also | highlight adapt global econom system |
| global | imbal crisi also highlight adapt | global | econom system rapid develop g |
| econom | crisi also highlight adapt global | econom | system rapid develop g leader |
| econom | g leader summit process forum | econom | financi policymak rapid mobil increas |
| global | system problemsof cours onset serious | global | econom financi crisi sinc great |
| econom | problemsof cours onset serious global | econom | financi crisi sinc great depress |
| econom | order mechan resolv buildup real | econom | financi imbal indic system fragil |
| also | intern reserv reflect buildup imbal | also | desir individu countri author selfinsur |
| countri | buildup imbal also desir individu | countri | author selfinsur potenti intern market |
| market | countri author selfinsur potenti intern | market | disrupt iii larg capit flow |
| financ | disrupt iii larg capit flow | financ | imbal potenti put financi market |
| market | financ imbal potenti put financi | market | signific pressur success address challeng |
| global | success address challeng crucial achiev | global | public good econom financi stabil |
| econom | crucial achiev global public good | econom | financi stabil ensur order rebalanc |
| growth | stabil ensur order rebalanc demand | growth | deficit surplus economi essenti establish |
| economi | rebalanc demand growth deficit surplus | economi | essenti establish sustain strong global |
| global | economi essenti establish sustain strong | global | recoveri reduc system risk fiveprong |
| polici | new mechan enhanc coher macroeconom | polici | among princip economi promot mediumterm |
| economi | coher macroeconom polici among princip | economi | promot mediumterm structur reform effort |
| polici | mediumterm structur reform effort encompass | polici | formul plan also strengthen effect |
| also | effort encompass polici formul plan | also | strengthen effect surveil polici implement |
| polici | plan also strengthen effect surveil | polici | implement ii strengthen global financi |
| global | surveil polici implement ii strengthen | global | financi system iii make global |
| global | global financi system iii make | global | financi safeti net effect tool |
| polici | asset address briefli theme macroeconom | polici | coher effect surveillancecrisi lesson one |
| need | lesson crisi absenc automat mechan | need | enhanc coher consist macroeconom polici |
| polici | need enhanc coher consist macroeconom | polici | among major economi goal mutual |
| economi | consist macroeconom polici among major | economi | goal mutual assess process take |
| growth | g framework strong sustain balanc | growth | imf togeth intern institut provid |
| growth | alon cannot improv system stabil | growth | anoth central lesson crisi imf |
| econom | anoth central lesson crisi imf | econom | polici surveil need rigor includ |
| polici | central lesson crisi imf econom | polici | surveil need rigor includ enhanc |
| need | crisi imf econom polici surveil | need | rigor includ enhanc coverag financi |
| market | asset liabil manag strategi across | market | settl realtim gross basi interconnect |
| growth | sound advic achiev balanc sustain | growth | context global econom financi stabil |
| global | achiev balanc sustain growth context | global | econom financi stabil facilit effect |
| econom | balanc sustain growth context global | econom | financi stabil facilit effect multilater |
| econom | collabor moreov incorpor monitor assess | econom | financi interconnect provid insight regard |
| polici | interconnect provid insight regard intern | polici | spillov imf work activ enhanc |
| countri | integr financi stabil assess regular | countri | surveil joint work financi stabil |
| global | policymak examin potenti risk scenario | global | economi suggest possibl polici respons |
| economi | examin potenti risk scenario global | economi | suggest possibl polici respons also |
| polici | scenario global economi suggest possibl | polici | respons also plan develop sever |
| also | economi suggest possibl polici respons | also | plan develop sever new multilater |
| polici | spillov report analyz intern impact | polici | system import countri crosscountri report |
| countri | intern impact polici system import | countri | crosscountri report common theme financi |
| global | past two decad histor unpreced | global | capit market system instabl exhibit |
| market | decad histor unpreced global capit | market | system instabl exhibit shock fashion |
| market | anyth princip fail financi institut | market | particip time work nation resolut |
| global | much work remain four pillar | global | financi safeti net overview exist |
| econom | permit policymak effect counteract larg | econom | financi shock restrict propag across |
| countri | financi shock restrict propag across | countri | limit risk moral hazard distort |
| market | take place via transact involv | market | secur need facil perceiv clear |
| need | via transact involv market secur | need | facil perceiv clear time design |
| polici | provid conting fund member strong | polici | face possibl vulner extern market |
| market | polici face possibl vulner extern | market | volatil goal avoid emerg perceiv |
| countri | creat system destabil capit flight | countri | economi fact follow sound polici |
| economi | system destabil capit flight countri | economi | fact follow sound polici fund |
| polici | countri economi fact follow sound | polici | fund membership made applic conting |
| global | fund effect previous limit damag | global | crisi process improv crisisprevent toolkit |
| countri | insurancelik instrument order respond heterogen | countri | polici circumst addit fcl avail |
| polici | instrument order respond heterogen countri | polici | circumst addit fcl avail countri |
| countri | polici circumst addit fcl avail | countri | strong polici fund execut board |
| polici | addit fcl avail countri strong | polici | fund execut board discuss creation |
| countri | line pcl could made avail | countri | sound polici nonetheless qualifi fcl |
| polici | could made avail countri sound | polici | nonetheless qualifi fcl pcl would |
| also | would carri strong qualif criteria | also | streamlin ex post polici condit |
| polici | criteria also streamlin ex post | polici | condit also may good justif |
| also | streamlin ex post polici condit | also | may good justif creation shortterm |
| market | late swap line four emerg | market | countri help boost market confid |
| countri | swap line four emerg market | countri | help boost market confid may |
| market | emerg market countri help boost | market | confid may ideal reli ad |
| also | enhanc framework deal system event | also | could contribut stronger global financi |
| global | event also could contribut stronger | global | financi safeti net regard system |
| growth | stabl store valu ongo rapid | growth | intern reserv extent reflect failur |
| global | order credibl fashion provid adequ | global | financi safeti net concern rise |
| need | exist reserv asset continu meet | need | reserv accumul cours noth stop |
| countri | reserv accumul cours noth stop | countri | broaden hold reserv asset inevit |
| financ | expand pool sdrs avail extern | financ | system event new sdr alloc |
| countri | consid sdr alloc target subset | countri | also could consid would advantag |
| also | sdr alloc target subset countri | also | could consid would advantag address |
| also | time govern borrow multipl currenc | also | might consid issu sdrdenomin bond |
| global | might consid issu sdrdenomin bond | global | govern reformrepresent involv high interconnect |
| global | view legitim emerg g made | global | policymak inclus previous contrast nearunivers |
| global | quota review protect voic poorest | global | econom weight continu evolv fund |
| econom | review protect voic poorest global | econom | weight continu evolv fund membership |
| market | share least percent dynam emerg | market | develop countri shift share current |
| countri | percent dynam emerg market develop | countri | shift share current overrepres underrepres |
| countri | shift share current overrepres underrepres | countri | time new vote share agre |
| need | relat relianc quota borrow resourc | need | fund lend beyond vote share |
| need | issu effect multilater decis make | need | focus senior polit author presum |
| polici | presum ministeri level process effect | polici | collabor particular noncrisi time time |
| growth | intern monetari financi reform boost | growth | perform forestal sow seed subsequ |
| financ | particip imf exist imfc g | financ | minist strike continu inspir thought |
| econom | thought enhanc coher govern financi | econom | polici thank much |
| polici | enhanc coher govern financi econom | polici | thank much |
| global | prepar deliveryin wake | global | financi crisi g assum leadership |
| econom | assum leadership role address financi | econom | issu newlyempow group help give |
| global | group help give polit back | global | effort mani center imf arrest |
| growth | subsequ deliv strong sustain balanc | growth | look back short period signific |
| countri | resourc includ new support poorest | countri | strengthen global financi safeti net |
| global | new support poorest countri strengthen | global | financi safeti net innov imf |
| countri | sown ongo dialogu cooper even | countri | divers circumst call distinct polici |
| polici | countri divers circumst call distinct | polici | respons accomplish london pittsburgh summit |
| also | focus turn korea concret decis | also | demonstr spirit effect collabor endur |
| polici | move forward includ coordin exit | polici | strengthen global financi safeti net |
| global | includ coordin exit polici strengthen | global | financi safeti net implement framework |
| growth | implement framework strong sustain balanc | growth | reform imf govern issu g |
| also | imf govern issu g agenda | also | key focus imf month ahead |
| global | imf month ahead challengesth outlook | global | economi present various challeng polici |
| economi | month ahead challengesth outlook global | economi | present various challeng polici maker |
| polici | global economi present various challeng | polici | maker affect g polici agenda |
| polici | challeng polici maker affect g | polici | agenda despit recent sign slow |
| global | despit recent sign slow momentum | global | recoveri expect continu nevertheless like |
| market | recoveri signific downsid risk financi | market | improv somewhat recent week ongo |
| market | somewhat recent week ongo financi | market | strain heighten uncertainti backdrop overarch |
| polici | strain heighten uncertainti backdrop overarch | polici | challeng sustain recoveri restor confid |
| polici | recoveri restor confid sever key | polici | challeng evid immedi other includ |
| need | challeng evid immedi other includ | need | ambiti vigor program financi system |
| economi | system repair reform mani advanc | economi | progress underway bank recapit bank |
| market | present general made posit contribut | market | sentiment also press need reduc |
| also | made posit contribut market sentiment | also | press need reduc uncertainti broader |
| need | contribut market sentiment also press | need | reduc uncertainti broader regulatori environ |
| need | reduc uncertainti broader regulatori environ | need | credibl mediumterm fiscal consolid plan |
| also | better strategi public debt manag | also | help g economi current fiscal |
| economi | debt manag also help g | economi | current fiscal plan appear appropri |
| countri | current fiscal plan appear appropri | countri | face sovereign fund pressur still |
| need | requir upfront measur underpin confid | need | global demand rebalanc key structur |
| global | upfront measur underpin confid need | global | demand rebalanc key structur reform |
| growth | key structur reform support futur | growth | economi excess extern surplus transit |
| economi | structur reform support futur growth | economi | excess extern surplus transit toward |
| polici | sourc demand continu help structur | polici | reform social safeti net improv |
| economi | varieti case flexibl exchang rate | economi | excess extern deficit fiscal consolid |
| growth | fiscal adjust difficult without strong | growth | structur reform particular product labor |
| market | structur reform particular product labor | market | need rais potenti growth mean |
| need | reform particular product labor market | need | rais potenti growth mean g |
| growth | labor market need rais potenti | growth | mean g far sign encourag |
| countri | construct engag parti agre toronto | countri | formul countrylevel plan achiev upsid |
| global | countrylevel plan achiev upsid scenario | global | economi nevertheless second stage process |
| economi | plan achiev upsid scenario global | economi | nevertheless second stage process challeng |
| polici | toronto given inevit difficulti multilater | polici | coordin demand task addit address |
| econom | demand task addit address under | econom | challeng three architectur issu also |
| also | econom challeng three architectur issu | also | high agenda particular intern financi |
| need | agenda particular intern financi system | need | made robust henc note need |
| need | need made robust henc note | need | acceler process strengthen regulatori supervisori |
| need | agreement agenda resili intern system | need | improv strengthen global financi safeti |
| global | intern system need improv strengthen | global | financi safeti net import potenti |
| need | aspect task broader reform packag | need | adequ reflect new econom realiti |
| econom | packag need adequ reflect new | econom | realiti korea import role play |
| market | work key actor particular emerg | market | won easi reach agreement would |
| econom | asia becom major | econom | powerhous grow import region account |
| global | grow import region account third | global | economi fifth current trend asia |
| economi | import region account third global | economi | fifth current trend asia economi |
| economi | economi fifth current trend asia | economi | could outstrip unit state european |
| also | state european union combin asia | also | made remark progress poverti reduct |
| countri | distribut across region number lowincom | countri | asia per capita annual incom |
| countri | averag around million peopl across | countri | live extrem poverti less incom |
| countri | incom day good newsth lowincom | countri | asia better place counterpart region |
| economi | list join next wave emerg | economi | number reason optim first lowincom |
| countri | number reason optim first lowincom | countri | asia made substanti progress boost |
| growth | asia made substanti progress boost | growth | reduc poverti averag growth decad |
| growth | boost growth reduc poverti averag | growth | decad global financi crisi close |
| global | reduc poverti averag growth decad | global | financi crisi close percent year |
| countri | poverti fell percent percent today | countri | declin particular remark vietnam exampl |
| also | exampl poverti cut almost half | also | countri extern debt declin around |
| countri | poverti cut almost half also | countri | extern debt declin around percent |
| countri | vulner second recent asian lowincom | countri | weather global financi crisi well |
| global | recent asian lowincom countri weather | global | financi crisi well economi slow |
| economi | weather global financi crisi well | economi | slow less emerg asia part |
| global | asia part reflect limit integr | global | economi export shrunk less economi |
| economi | part reflect limit integr global | economi | export shrunk less economi reli |
| economi | global economi export shrunk less | economi | reli less bigticket advanc manufactur |
| also | reli less bigticket advanc manufactur | also | depend much privat portfolio flow |
| polici | privat portfolio flow countercycl macroeconom | polici | also support activ countri includ |
| also | portfolio flow countercycl macroeconom polici | also | support activ countri includ bangladesh |
| countri | macroeconom polici also support activ | countri | includ bangladesh sri lanka vietnam |
| growth | fiscal stimulus third expect gdp | growth | bounc back percent next year |
| countri | partial reflect potenti asian lowincom | countri | enter vibrant region trade network |
| economi | catchup technolog transfer lowincom asian | economi | pois step product nexus move |
| countri | export like predecessor challengesth lowincom | countri | larg innoc victim global financi |
| global | lowincom countri larg innoc victim | global | financi crisi deal consequ make |
| polici | crisi deal consequ make signific | polici | mistak actual made progress improv |
| polici | mistak actual made progress improv | polici | framework despit face doubl punch |
| market | financi flow trade side export | market | advanc economi smaller expand slowli |
| economi | trade side export market advanc | economi | smaller expand slowli crisi fdi |
| economi | remitt shrunk weaken extern support | economi | real problem setback expect longlast |
| economi | setback expect longlast mani advanc | economi | face larg fiscal retrench need |
| need | economi face larg fiscal retrench | need | medium term averag sovereign debt |
| economi | high expect declin gradual advanc | economi | reduc prospect strong domest demanddriven |
| growth | reduc prospect strong domest demanddriven | growth | advanc economi lowincom countri also |
| economi | strong domest demanddriven growth advanc | economi | lowincom countri also face import |
| countri | demanddriven growth advanc economi lowincom | countri | also face import domest challeng |
| also | growth advanc economi lowincom countri | also | face import domest challeng rapid |
| growth | import domest challeng rapid credit | growth | relat bank sector sound concern |
| countri | relat bank sector sound concern | countri | inflat pressur also increas regard |
| also | sound concern countri inflat pressur | also | increas regard longerterm prospect still |
| growth | communic pose key impedi stronger | growth | also lack diversif local economi |
| also | pose key impedi stronger growth | also | lack diversif local economi excess |
| economi | growth also lack diversif local | economi | excess depend commod product reduc |
| economi | depend commod product reduc abil | economi | reap full benefit growth potenti |
| growth | abil economi reap full benefit | growth | potenti must countri countri must |
| countri | full benefit growth potenti must | countri | countri must respond challeng along |
| countri | benefit growth potenti must countri | countri | must respond challeng along number |
| growth | toward achiev macroconom stabil boost | growth | reduc poverti inequ achiev macroeconom |
| growth | achiev macroeconom stabil strong balanc | growth | built pillar macroeconom stabil import |
| countri | built pillar macroeconom stabil import | countri | author rebuild polici buffer fiscal |
| polici | stabil import countri author rebuild | polici | buffer fiscal monetari extern improv |
| also | extern improv financi sector sound | also | import improv account transpar macroeconom |
| polici | import improv account transpar macroeconom | polici | strengthen sustain growth countri need |
| growth | transpar macroeconom polici strengthen sustain | growth | countri need boost intern demand |
| countri | macroeconom polici strengthen sustain growth | countri | need boost intern demand especi |
| need | polici strengthen sustain growth countri | need | boost intern demand especi infrastructur |
| also | intern demand especi infrastructur invest | also | need integr better region trade |
| need | demand especi infrastructur invest also | need | integr better region trade network |
| market | integr among reform develop financi | market | particular import ensur better alloc |
| countri | household incom overal low incom | countri | asia learn emerg market neighbor |
| market | incom countri asia learn emerg | market | neighbor come achiev sustain growth |
| growth | market neighbor come achiev sustain | growth | address social issu social safeti |
| need | social issu social safeti net | need | strengthen countri also need attend |
| countri | social safeti net need strengthen | countri | also need attend health educ |
| also | safeti net need strengthen countri | also | need attend health educ need |
| need | net need strengthen countri also | need | attend health educ need popul |
| need | also need attend health educ | need | popul experi crisi favor countri |
| countri | need popul experi crisi favor | countri | still long way go provid |
| growth | adequ protect shock ensur gain | growth | broad share mani countri still |
| countri | gain growth broad share mani | countri | still larg incom dispar sizeabl |
| global | ¾ percent gdp year twice | global | averag loss support lowincom countri |
| countri | global averag loss support lowincom | countri | effort overcom challeng climat chang |
| need | copenhagen accord suggest billion year | need | imf help intern communiti stand |
| countri | communiti stand readi help lowincom | countri | meet challeng cours differ group |
| growth | focus primarili macroeconom stabil sustain | growth | contribut lowincom countri along line |
| countri | stabil sustain growth contribut lowincom | countri | along line help along follow |
| financ | help along follow dimens flexibl | financ | juli imf revamp concession lend |
| countri | revamp concession lend facil lowincom | countri | addit loan subsidi resourc mobil |
| countri | chang boost avail resourc lowincom | countri | billion concession lend zero interest |
| need | billion concession lend zero interest | need | subsidi resourc come imf intern |
| also | link limit sale gold imf | also | increas flexibl facil three new |
| need | facil scf design shortterm precautionari | need | rapid credit facil rcf provid |
| also | alreadi receiv rcf may imf | also | enhanc countri ownership make lend |
| countri | rcf may imf also enhanc | countri | ownership make lend program flexibl |
| polici | make lend program flexibl streamlin | polici | condit support countercycl polici attend |
| polici | streamlin polici condit support countercycl | polici | attend need vulner group program |
| need | condit support countercycl polici attend | need | vulner group program countri better |
| countri | attend need vulner group program | countri | better surveil help countri achiev |
| countri | program countri better surveil help | countri | achiev macroeconom stabil core mandat |
| countri | tailor bilater surveil accord individu | countri | circumst care consid macro polici |
| polici | countri circumst care consid macro | polici | system issu crosscountri spillov macrofinanci |
| market | crosscountri experi provid lesson emerg | market | lowincom countri addit hope introduc |
| countri | provid lesson emerg market lowincom | countri | addit hope introduc new vulner |
| countri | new vulner exercis specif lowincom | countri | technic assist knowledg transfer often |
| also | assist center includ one fiji | also | number region train institut program |
| countri | india singapor conclusionth asian lowincom | countri | abl take seat tabl tap |
| countri | move ladder lot depend individu | countri | polici intern communiti must also |
| polici | ladder lot depend individu countri | polici | intern communiti must also help |
| also | countri polici intern communiti must | also | help advanc countri maintain aid |
| countri | communiti must also help advanc | countri | maintain aid flow financ effort |
| financ | advanc countri maintain aid flow | financ | effort overcom climat chang lowincom |
| countri | effort overcom climat chang lowincom | countri | resist protectionist pressur imf remain |
| countri | remain fulli commit support lowincom | countri | support come multipl front includ |
| also | includ lend surveil knowledg transfer | also | work hard ensur lowincom countri |
| countri | also work hard ensur lowincom | countri | voic heard global communiti represent |
| global | ensur lowincom countri voic heard | global | communiti represent protect ongo imf |
| countri | imf determin make sure lowincom | countri | asia get left behind instead |
| financ | event possibl cohost ministri strategi | financ | led minist yoon jeunghyun korea |
| global | develop institut bank korea wake | global | financi crisi asia emerg global |
| global | global financi crisi asia emerg | global | econom powerhous one doubt asia |
| econom | financi crisi asia emerg global | econom | powerhous one doubt asia econom |
| econom | econom powerhous one doubt asia | econom | import continu grow world chang |
| polici | regard first experi showcas right | polici | includ sound macroeconom manag ambiti |
| econom | ambiti structur reform deliv formid | econom | perform long stretch second korea |
| global | g year demonstr asia reshap | global | econom financi framework us imf |
| econom | year demonstr asia reshap global | econom | financi framework us imf confer |
| also | see done correct done correct | also | want listen asia say issu |
| also | asia say issu challeng region | also | polici prioriti countri region countri |
| polici | say issu challeng region also | polici | prioriti countri region countri world |
| countri | challeng region also polici prioriti | countri | region countri world want understand |
| countri | also polici prioriti countri region | countri | world want understand asia manag |
| growth | world want understand asia manag | growth | global success draw lesson asia |
| global | want understand asia manag growth | global | success draw lesson asia mani |
| economi | region becom increas integr world | economi | multilater approach global challeng becom |
| global | integr world economi multilater approach | global | challeng becom increas import region |
| econom | first question asia region tremend | econom | dynam also divers econom realiti |
| also | asia region tremend econom dynam | also | divers econom realiti meet challeng |
| econom | tremend econom dynam also divers | econom | realiti meet challeng st centuri |
| countri | find way help asia lowincom | countri | transit emerg market import issu |
| market | asia lowincom countri transit emerg | market | import issu special advisor zhu |
| countri | second question concern lesson draw | countri | asia resili global financi crisi |
| global | lesson draw countri asia resili | global | financi crisi view macroeconom financi |
| global | asia abl bounc back quick | global | financi crisi turn futur polici |
| polici | global financi crisi turn futur | polici | challeng asia may face third |
| economi | period asia rebound strong mani | economi | region quit right alreadi unwind |
| global | stimulus measur increas downsid risk | global | growth includ recent turmoil europ |
| growth | measur increas downsid risk global | growth | includ recent turmoil europ mean |
| need | recent turmoil europ mean policymak | need | remain attun possibl shock global |
| global | need remain attun possibl shock | global | growth financi market includ capit |
| growth | remain attun possibl shock global | growth | financi market includ capit inflow |
| market | possibl shock global growth financi | market | includ capit inflow threat fastgrow |
| countri | includ capit inflow threat fastgrow | countri | fourth question nurtur asia new |
| growth | nurtur asia new second engin | growth | domest demand may inde central |
| growth | question address confer past asia | growth | heavili depend export asia major |
| market | extens balanc sheet repair export | market | may buoyant second intern engin |
| growth | may buoyant second intern engin | growth | need sustain asia strong perform |
| need | buoyant second intern engin growth | need | sustain asia strong perform mani |
| need | asia strong perform mani chang | need | foster second engin growth alreadi |
| growth | chang need foster second engin | growth | alreadi underway across region includ |
| need | net boost privat consumpt reduc | need | precautionari save better infrastructur encourag |
| also | deepen support consumpt invest smes | also | major compani seek financ larg |
| financ | smes also major compani seek | financ | larg invest project need flexibl |
| need | seek financ larg invest project | need | flexibl exchang rate final let |
| global | question implic asia grow interlinkag | global | economi asia econom weight world |
| economi | implic asia grow interlinkag global | economi | asia econom weight world continu |
| econom | grow interlinkag global economi asia | econom | weight world continu rise stake |
| econom | weight world continu rise stake | econom | perform countri rise increas valu |
| countri | continu rise stake econom perform | countri | rise increas valu asia effect |
| polici | increas valu asia effect intern | polici | dialogu assess global econom risk |
| global | effect intern polici dialogu assess | global | econom risk reach collabor decis |
| econom | intern polici dialogu assess global | econom | risk reach collabor decis polici |
| polici | econom risk reach collabor decis | polici | need countri tackl global challeng |
| need | risk reach collabor decis polici | need | countri tackl global challeng today |
| countri | reach collabor decis polici need | countri | tackl global challeng today global |
| global | decis polici need countri tackl | global | challeng today global world coordin |
| global | countri tackl global challeng today | global | world coordin need much past |
| need | challeng today global world coordin | need | much past global financi crisi |
| global | world coordin need much past | global | financi crisi demonstr benefici polici |
| polici | global financi crisi demonstr benefici | polici | coordin thank joint polici action |
| polici | benefici polici coordin thank joint | polici | action particular major fiscal stimulus |
| econom | fiscal stimulus avert far greater | econom | calam easier global coordin polici |
| global | far greater econom calam easier | global | coordin polici maker face problem |
| polici | econom calam easier global coordin | polici | maker face problem enter recoveri |
| countri | problem enter recoveri phase challeng | countri | recov differ speed differ under |
| econom | recov differ speed differ under | econom | condit call differ polici differ |
| polici | under econom condit call differ | polici | differ countri cooper remain critic |
| countri | condit call differ polici differ | countri | cooper remain critic benefit clear |
| global | discuss korea novemb summit enhanc | global | polici coordin could boost global |
| polici | korea novemb summit enhanc global | polici | coordin could boost global economi |
| global | global polici coordin could boost | global | economi  ½ percent trillion |
| economi | polici coordin could boost global | economi | Â ½ percent trillion next |
| also | thought let candid made mistak | also | learn lesson experi asian crisi |
| economi | sheet effect devast impact real | economi | learn danger pose volatil capit |
| countri | flow cope potenti outflow crisi | countri | may need larg amount financ |
| need | potenti outflow crisi countri may | need | larg amount financ avail upfront |
| financ | countri may need larg amount | financ | avail upfront learn import focus |
| polici | upfront learn import focus essenti | polici | protect vulner tackl crisi lesson |
| financ | among chang creation new insurancetyp | financ | instrument flexibl credit line use |
| financ | aim help prevent crisi provid | financ | right time right amount countri |
| countri | financ right time right amount | countri | strong polici look forward asia |
| polici | time right amount countri strong | polici | look forward asia take challeng |
| econom | work support region interest analysi | econom | financi risk improv intern polici |
| polici | econom financi risk improv intern | polici | coordin enhanc global financi safeti |
| global | improv intern polici coordin enhanc | global | financi safeti net analysi econom |
| econom | global financi safeti net analysi | econom | financi risk global economi becom |
| global | net analysi econom financi risk | global | economi becom increas interconnect spillov |
| economi | analysi econom financi risk global | economi | becom increas interconnect spillov countri |
| countri | economi becom increas interconnect spillov | countri | play increas role policymak around |
| polici | play use role regard intern | polici | coordin note earlier asia increas |
| global | earlier asia increas stake effect | global | polici coordin imf institut member |
| polici | asia increas stake effect global | polici | coordin imf institut member countri |
| countri | polici coordin imf institut member | countri | play central role make coordin |
| global | central role make coordin possibl | global | financi safeti neta crisi demonstr |
| countri | revers quick time panic even | countri | sound macroeconom financi condit develop |
| global | macroeconom financi condit develop effect | global | financi safeti net therefor essenti |
| global | net therefor essenti element stabl | global | economi also import object asia |
| economi | therefor essenti element stabl global | economi | also import object asia korea |
| also | essenti element stabl global economi | also | import object asia korea provid |
| econom | help align asia represent fund | econom | weight world member countri commit |
| countri | fund econom weight world member | countri | commit shift quota share dynam |
| market | shift quota share dynam emerg | market | develop countri least overrepres countri |
| countri | share dynam emerg market develop | countri | least overrepres countri underrepres countri |
| countri | market develop countri least overrepres | countri | underrepres countri deliv addit boost |
| countri | countri least overrepres countri underrepres | countri | deliv addit boost asia vote |
| also | boost asia vote share imf | also | import asian men women imf |
| global | thoughtslet conclud asia time come | global | economi must imf rapid growth |
| economi | conclud asia time come global | economi | must imf rapid growth turn |
| growth | global economi must imf rapid | growth | turn region global econom powerhous |
| global | imf rapid growth turn region | global | econom powerhous asia econom weight |
| econom | rapid growth turn region global | econom | powerhous asia econom weight world |
| econom | region global econom powerhous asia | econom | weight world track grow even |
| global | right asia increas import influenc | global | polici debat asia becom one |
| polici | asia increas import influenc global | polici | debat asia becom one center |
| also | month recent toronto leader summit | also | call new progress improv supervis |
| global | deal occurr potenti could threaten | global | financi stabil offici work togeth |
| econom | take time issu maintain financi | econom | stabil central mandat imf thus |
| market | thus specialist colleagu monetari capit | market | legal depart work altern approach |
| global | border doubt institut support strong | global | growth preced recent crisi seen |
| growth | doubt institut support strong global | growth | preced recent crisi seen howev |
| also | crisi seen howev problem institut | also | undermin global financi stabil one |
| global | howev problem institut also undermin | global | financi stabil one institut risk |
| countri | face pure domest insolv mani | countri | lack effect legal framework resolv |
| global | major financi firm today live | global | die local notwithstand global reach |
| global | live global die local notwithstand | global | reach failur larg intern financi |
| global | protract process thus basic mismatch | global | institut nation framework alreadi led |
| countri | would multilater treati would oblig | countri | particip coordin intern resolut process |
| countri | simpli appear feasibl option time | countri | appear readi agre impli surrend |
| countri | nation sovereignti among formallyintegr group | countri | european union might nation govern |
| also | scope might argu financi institut | also | nation scope fact mani respect |
| global | signific effici cost reduc access | global | capit benefit capit mobil clear |
| economi | clear recogn notabl dynam emerg | economi | seem fact exist broad consensus |
| global | broad consensus support effort improv | global | system rather repress propos frameworkin |
| countri | would envisag establish intern framework | countri | would agre cooper certain condit |
| countri | place design would appli among | countri | meet certain core standard suggest |
| countri | suggest approach would creat incent | countri | cooper mechan would creat bind |
| need | high feasibl framework crossbord resolut | need | recogn fundament realiti face potenti |
| countri | consist four princip element first | countri | would amend domest legisl permit |
| countri | creditor financi stabil second particip | countri | would adher core coordin standard |
| countri | includ crossbord recognit measur taken | countri | would like provid bit detail |
| countri | liquid local branch foreign bank | countri | requir author ringfenc local asset |
| countri | would call nation author cooper | countri | framework believ cooper consist interest |
| countri | cooper adher standard would ensur | countri | bank supervisori insolv regim suffici |
| countri | robust harmon key area particular | countri | bank insolv regim would need |
| need | countri bank insolv regim would | need | treat domest foreign creditor nondiscriminatori |
| financ | third parti consent provid bridg | financ | assum public ownership temporari basi |
| also | ultim fall privat public sector | also | need clear burden share across |
| need | fall privat public sector also | need | clear burden share across countri |
| countri | need clear burden share across | countri | envisag countri could agre principl |
| countri | burden share across countri envisag | countri | could agre principl guid burden |
| countri | may requir chang nation legisl | countri | would give rise bind legal |
| countri | give rise bind legal oblig | countri | cooper would impli surrend nation |
| countri | could appli among wide rang | countri | includ whose economi close integr |
| economi | wide rang countri includ whose | economi | close integr envisag increment approach |
| countri | close integr envisag increment approach | countri | perhap repres princip financi center |
| countri | center would first cooper basi | countri | join framework time recogn howev |
| countri | time recogn howev close integr | countri | may wish go especi case |
| global | tool coordin standard similar compat | global | approach one describ today moreov |
| need | march speech brussel think eu | need | integr framework includ creation european |
| market | eu object establish singl financi | market | institut possibl close econom financi |
| econom | financi market institut possibl close | econom | financi integr step taken alreadi |
| also | time work difficult detail would | also | import advantag allow time ensur |
| global | allow time ensur consist evolv | global | arrang conclusionimprov nation resolut templat |
| need | approach understand crucibl unfold crisi | need | calm determin follow principl agreement |
| market | sector evolv focus predomin emerg | market | also includ advanc market economi |
| also | evolv focus predomin emerg market | also | includ advanc market economi evolut |
| market | emerg market also includ advanc | market | economi evolut larg reflect import |
| economi | market also includ advanc market | economi | evolut larg reflect import public |
| also | risk sovereign debt manag assum | also | reflect chang last decad debt |
| market | chang last decad debt capit | market | investor base seem appropri th |
| countri | appropri th occas forum gather | countri | one oldest debt offic date |
| need | sovereign balanc sheet manag practic | need | sure time b aftermath crisi |
| need | debt sharpli elev sovereign risk | need | manag well order avoid global |
| global | need manag well order avoid | global | financi crisi morph sovereign debt |
| polici | recoveri role debt manag along | polici | maker charg fiscal consolid crucial |
| polici | debtat present one key prioriti | polici | maker especi advanc economi reduc |
| economi | prioriti polici maker especi advanc | economi | reduc sovereign vulner countri public |
| countri | advanc economi reduc sovereign vulner | countri | public debt expect reach percent |
| economi | discretionari fiscal stimulus contrast emerg | economi | debttogdp ratio project resum gradual |
| growth | resum gradual declin predic sustain | growth | relat low interest rate countryrisk |
| growth | crisi inde yield project remain | growth | rate gdp primari balanc expect |
| growth | element vulner gap interest rate | growth | turn less favor expect particular |
| economi | expect particular given mani emerg | economi | debt ratio increas result crisi |
| economi | increas result crisi similar lowincom | economi | debt level also project begin |
| also | similar lowincom economi debt level | also | project begin declin lowincom countri |
| countri | also project begin declin lowincom | countri | debt fell percent gdp averag |
| econom | reflect debt relief initi sustain | econom | perform debt most owe extern |
| countri | concession debttogdp ratio low incom | countri | project percentag point higher crisi |
| financ | reflect increas use domest sourc | financ | larger deficit howev deterior expect |
| growth | deficit howev deterior expect taper | growth | resum budgetari condit improv oil |
| countri | condit improv oil nonoil produc | countri | elev sovereign risksbut concern fiscal |
| economi | concern fiscal debt sustain advanc | economi | left untreat undermin econom recoveri |
| econom | advanc economi left untreat undermin | econom | recoveri jeopard global financi stabil |
| global | untreat undermin econom recoveri jeopard | global | financi stabil high debt fiscal |
| countri | stabil high debt fiscal vulner | countri | price market assess sovereign risk |
| market | debt fiscal vulner countri price | market | assess sovereign risk seen major |
| market | downgrad increas volatil sovereign debt | market | uncertain outcom sovereign fund effort |
| economi | credit risk premia increas substanti | economi | direct hit crisi recent spread |
| economi | increas wide high indebt advanc | economi | under fiscal vulner sovereign risk |
| also | fiscal vulner sovereign risk transform | also | number import way direct consequ |
| countri | channel transmiss among weaker advanc | countri | sovereign particular euro zone reveal |
| countri | sovereign credit risk concern spread | countri | perceiv afflict similar fiscal vulner |
| market | rais sovereign fund cost induc | market | volatil shortterm financ strain unfold |
| financ | cost induc market volatil shortterm | financ | strain unfold uncertainti may also |
| also | financ strain unfold uncertainti may | also | bring new risk countri fulli |
| countri | may also bring new risk | countri | fulli affect thus far due |
| need | level debt larg sovereign fund | need | also threaten rais interest rate |
| also | debt larg sovereign fund need | also | threaten rais interest rate crowd |
| growth | privat sector credit undermin confid | growth | reduc flexibl respond shock consider |
| global | system could thus jeopard region | global | financi stabil growth prospect c |
| growth | jeopard region global financi stabil | growth | prospect c polici implicationsfisc policylet |
| polici | financi stabil growth prospect c | polici | implicationsfisc policylet turn measur polici |
| polici | polici implicationsfisc policylet turn measur | polici | maker take tackl high public |
| market | debt heighten sovereign risk reassur | market | fiscal sustain critic preserv recoveri |
| market | recoveri contain volatil sovereign debt | market | deterior fiscal fundament need credibl |
| need | debt market deterior fiscal fundament | need | credibl address govern urgent need |
| need | need credibl address govern urgent | need | communic fiscal consolid strategi specifi |
| countri | crisi time fiscal consolid depend | countri | circumst particular pace recoveri risk |
| economi | fiscal credibl nearterm perspect advanc | economi | need tighten fiscal polici year |
| need | credibl nearterm perspect advanc economi | need | tighten fiscal polici year could |
| polici | advanc economi need tighten fiscal | polici | year could undermin recoveri add |
| countri | medium term although specif vari | countri | current fiscal consolid plan advanc |
| countri | target measur enabl target reach | countri | face sever market pressur alreadi |
| market | target reach countri face sever | market | pressur alreadi embark immedi fiscal |
| countri | polit difficult upfront measur necessari | countri | unabl credibl commit mediumterm consolid |
| market | mediumterm consolid may find advers | market | sentiment like compel undertak signific |
| economi | adjust fast grow emerg advanc | economi | start tighten countri use fiscal |
| countri | emerg advanc economi start tighten | countri | use fiscal polici contain demand |
| polici | start tighten countri use fiscal | polici | contain demand pressur prefer tighter |
| countri | exacerb pressur capit inflow howev | countri | debt level relat low monetari |
| also | includ relat conting debt must | also | foster formul implement mediumterm debt |
| countri | instrument matur profil investor base | countri | much larger postcrisi debt need |
| need | countri much larger postcrisi debt | need | control larger refinanc risk lengthen |
| market | context heighten volatil sovereign debt | market | understand control conting liabil work |
| also | impact realize govern balanc sheet | also | import similar fiscal consolid plan |
| market | debt strategi would contribut reassur | market | light challeng issu increas amount |
| market | amount debt less liquid volatil | market | debt manag consid adapt primari |
| market | debt manag consid adapt primari | market | oper minim execut risk deploy |
| market | help improv price discoveri reduc | market | volatil support secondari market liquid |
| market | reduc market volatil support secondari | market | liquid chang oper procedur undermin |
| market | debt elev sovereign risk volatil | market | environ also afford us chanc |
| also | sovereign risk volatil market environ | also | afford us chanc discuss concret |
| financ | sinc rejoin fund initi rais | financ | commit last week chair imf |
| financ | african depart director former minist | financ | liberia also want us heavili |
| also | director former minist financ liberia | also | want us heavili involv liberia |
| economi | heavili involv liberia program stabil | economi | achiev debt relief monrovia washington |
| need | past year comment briefli challeng | need | met liberia achiev broadbas growth |
| growth | need met liberia achiev broadbas | growth | rise employ level let underscor |
| need | remark brief know generat fund | need | financ debt relief imf prove |
| financ | brief know generat fund need | financ | debt relief imf prove major |
| financ | previous identifi hipc process includ | financ | debt relief liberia requir major |
| countri | requir major collect effort member | countri | contribut obtain necessari fund necessari |
| financ | arrear clearanc oper new imf | financ | start hipc process voluntari contribut |
| countri | process voluntari contribut liberia mobil | countri | impress commentari truli broadbas intern |
| need | offer thought urgent challeng includ | need | ensur growth broadbas benefit liberian |
| growth | urgent challeng includ need ensur | growth | broadbas benefit liberian creat favor |
| growth | liberian creat favor environ employ | growth | infrastructur project help ensur financi |
| need | credit domest firm intern communiti | need | continu substanti assist liberia forese |
| need | futur recov long civil war | need | leadership resourc time govern liberia |
| need | govern liberia provid leadership donor | need | generous provid resourc expect need |
| need | need generous provid resourc expect | need | realist quick goal realiz let |
| polici | mean uniform make sens divers | polici | respond divers challeng mind leader |
| growth | mind leader commit fiscal adjust | growth | pace adjust reflect countri circumst |
| countri | adjust growth pace adjust reflect | countri | circumst g ask us provid |
| global | aim deliv stronger balanc sustain | global | growth analysi show cooper action |
| growth | deliv stronger balanc sustain global | growth | analysi show cooper action produc |
| growth | produc real result boost world | growth | Â ½ percent five year |
| global | lift million peopl poverti talk | global | cooper theoret margin discuss central |
| countri | complementari financi taxat collabor among | countri | specif issu financi sector tax |
| economi | earli write obituari inde major | economi | decid implement progress also made |
| also | major economi decid implement progress | also | made regul front even key |
| also | short third pleas say toronto | also | saw g continu support imf |
| polici | fund respons crisi act vehicl | polici | coordin among earliest call global |
| global | polici coordin among earliest call | global | fiscal stimulus global coordin effort |
| global | earliest call global fiscal stimulus | global | coordin effort help world avoid |
| financ | world avoid second great depress | financ | side g leader commit tripl |
| countri | line provid strong safeti net | countri | good track record tripl concession |
| countri | tripl concession lend commit lowincom | countri | charg zero interest enhanc countri |
| countri | countri charg zero interest enhanc | countri | ownership make lend program flexibl |
| polici | make lend program flexibl streamlin | polici | condit respons need vulner group |
| need | flexibl streamlin polici condit respons | need | vulner group crisi countri countri |
| countri | respons need vulner group crisi | countri | countri output loss smaller relat |
| countri | need vulner group crisi countri | countri | output loss smaller relat past |
| countri | line case includ among lowincom | countri | fiscal polici abl act brake |
| polici | includ among lowincom countri fiscal | polici | abl act brake econom downturn |
| econom | fiscal polici abl act brake | econom | downturn crisi also chang way |
| also | act brake econom downturn crisi | also | chang way imf work region |
| financ | close collabor european union provid | financ | countri outsid eurozon later greek |
| countri | collabor european union provid financ | countri | outsid eurozon later greek crisi |
| need | imf resourc experi deal crise | need | step establish new kind relationship |
| global | mai initi crisi shown clear | global | mere theoret real start singl |
| countri | mere theoret real start singl | countri | repercuss far beyond countri could |
| countri | singl countri repercuss far beyond | countri | could even see econom butterfli |
| econom | beyond countri could even see | econom | butterfli effect action imf support |
| econom | ocean offer littl protect serious | econom | disrupt europ would major consequ |
| growth | europ would major consequ american | growth | job adapt meet need member |
| need | american growth job adapt meet | need | member crisi imf play use |
| need | crisi imf play use role | need | think role futur peac time |
| global | time beyond crisi especi sinc | global | stay surveillancelet begin imf surveil |
| polici | dual role ruthless truthtel trust | polici | advisor crisi surveil lag behind |
| global | advisor crisi surveil lag behind | global | econom financi develop thing pretti |
| econom | crisi surveil lag behind global | econom | financi develop thing pretti much |
| countri | much alway focus most individu | countri | rather system issu even format |
| need | bare chang decad limit effect | need | new toolkit new era made |
| need | system effect tail risk vulner | need | put macrofinanci stabil front center |
| global | imf surveil let clear aspir | global | regul need better understand complic |
| need | let clear aspir global regul | need | better understand complic nexus exposur |
| also | nation supervisor financi stabil board | also | need beef multilater surveil get |
| need | supervisor financi stabil board also | need | beef multilater surveil get better |
| global | get better handl interlinkag underli | global | financi system systemicallyimport countri domest |
| countri | underli global financi system systemicallyimport | countri | domest polici consequ rest world |
| polici | financi system systemicallyimport countri domest | polici | consequ rest world mind plan |
| economi | spillov report start five system | economi | china euro area japan unit |
| polici | state next eighteen month assess | polici | might affect region global stabil |
| global | assess polici might affect region | global | stabil cours must neglect bilater |
| global | turn lend clear still gap | global | financi safeti net fcl success |
| market | remain platinum brand counti face | market | jitter qualifi fcl yet still |
| polici | qualifi fcl yet still sound | polici | think new precautionari credit line |
| countri | think new precautionari credit line | countri | condit qualif would bit less |
| also | ask limit ex post condit | also | might use establish framework deal |
| countri | coordin mechan proactiv channel liquid | countri | pressur effect resourc deploy quick |
| countri | resourc deploy quick possibl focus | countri | propag shock whatev origin across |
| countri | world stop fall domino cours | countri | may want move first might |
| market | might risk send wrong messag | market | get around chickenandegg problem could |
| also | provid multicountri assist simultan imf | also | explor way cooper close region |
| financ | explor way cooper close region | financ | arrang includ context global liquid |
| global | region financ arrang includ context | global | liquid provis dual benefit increas |
| countri | dual benefit increas avail resourc | countri | ownership recent partnership europ repres |
| need | longerterm issu oper difficulti consid | need | start think today world tomorrow |
| need | governancewhat set ambiti agenda work | need | enhanc legitimaci legitimaci depend govern |
| global | depend govern structur reflect today | global | realiti fund found member today |
| countri | member today back small team | countri | power global economi today mani |
| global | back small team countri power | global | economi today mani engin across |
| economi | small team countri power global | economi | today mani engin across mani |
| countri | today mani engin across mani | countri | obvious increas effect mean increas |
| market | give greater voic dynam emerg | market | develop countri must done januari |
| countri | voic dynam emerg market develop | countri | must done januari deadlin realiti |
| also | reform import end game chang | also | need need greater ministeri engag |
| need | import end game chang also | need | need greater ministeri engag activ |
| need | end game chang also need | need | greater ministeri engag activ enhanc |
| need | activ enhanc traction advic account | need | greater emerg market develop countri |
| market | advic account need greater emerg | market | develop countri represent execut board |
| countri | need greater emerg market develop | countri | represent execut board need open |
| need | develop countri represent execut board | need | open transpar manag select process |
| need | select process merit matter citizenship | need | improv divers imf staff better |
| global | divers imf staff better repres | global | membership conclusioni call upon member |
| global | best abil address effect arriv | global | must underpin vigor multilater imf |
| global | multilater imf found given mandat | global | econom financi stabil realli behind |
| econom | imf found given mandat global | econom | financi stabil realli behind form |
| econom | make mistak past mistak led | econom | nation war overarch goal foster |
| countri | overarch goal foster better relat | countri | avoid econom root instabl conflict |
| econom | foster better relat countri avoid | econom | root instabl conflict role begin |
| econom | root instabl conflict role begin | econom | stabil end goal multilater institut |
| also | bank russia occas th anniversari | also | would like thank cbr sponsor |
| economi | confer central bank develop world | economi | honor opportun particip event celebr |
| global | challeng cbr russia hit hard | global | financi crisi credit cbr respond |
| countri | deficit today russia one hand | countri | bulk except liquid provid crisi |
| econom | profession cbr staff stewardship leadership | econom | situat stabil quick last year |
| global | crisi manag first step russia | global | today countri around world work |
| countri | first step russia global today | countri | around world work improv financi |
| need | tool mitig system risk first | need | improv supervis financi sector crisi |
| need | signific scope improv supervis second | need | strengthen framework maintain system financi |
| polici | stabil crisi demonstr success monetari | polici | framework focus price stabil creat |
| also | maneuv crisi respons time crisi | also | show system risk especi creat |
| need | goal howev new macroprudenti tool | need | develop agre third compel reason |
| growth | reason includ strong fundament favor | growth | prospect expect sustain substanti increas |
| economi | come year capit flow emerg | economi | cours overal impact inflow overwhelm |
| polici | overwhelm posit nonetheless pose macroeconom | polici | challeng author recipi economi improv |
| economi | macroeconom polici challeng author recipi | economi | improv supervisionturn first issu supervis |
| market | term reli heavili selfdisciplin qualiti | market | word supervisor insuffici intrus skeptic |
| countri | fsap suggest supervisori weak widespread | countri | complianc intern standard regard legal |
| countri | legal institut framework supervis onethird | countri | sampl meet key supervis standard |
| countri | expos shortcom supervis russia mani | countri | lax lend standard bank overreli |
| economi | encourag rapid credit expans overh | economi | cours crisi brought abrupt end |
| economi | cours crisi brought abrupt end | economi | tumbl sharp recess credit expans |
| polici | loan provis classif requir monetari | polici | financi stabilitybeyond issu improv regul |
| polici | financi stabil one thing monetari | polici | consider relev crisi offer key |
| economi | overthecycl feedback financi sector real | economi | goe without say crisi pose |
| polici | pose signific challeng conduct monetari | polici | advanc emerg economi notabl research |
| economi | conduct monetari polici advanc emerg | economi | notabl research indic emerg economi |
| economi | economi notabl research indic emerg | economi | low fall inflat abl provid |
| countri | crisi therebi cushion recessionari trend | countri | also benefit abil follow flexibl |
| also | therebi cushion recessionari trend countri | also | benefit abil follow flexibl exchang |
| polici | abil follow flexibl exchang rate | polici | thus favor inflat develop past |
| polici | russia valuabl opportun reorient monetari | polici | toward clearer focus inflat goal |
| market | independ complet effect domest financi | market | creat robust monetari transmiss mechan |
| polici | monetari transmiss mechan thus monetari | polici | effect bolster bank sector weak |
| economi | recapit restructur resolut mani emerg | economi | includ russia implement macroprudenti polici |
| polici | economi includ russia implement macroprudenti | polici | also repres like path achiev |
| also | includ russia implement macroprudenti polici | also | repres like path achiev greater |
| polici | tool tend increas burden monetari | polici | deal rise financi imbal therebi |
| polici | tool like influenc transmiss monetari | polici | want clear one key point |
| econom | bring third final topic anticip | econom | polici implic larg sustain capit |
| polici | third final topic anticip econom | polici | implic larg sustain capit flow |
| market | flow increas capit flow emerg | market | economi past quarter reflect partial |
| economi | increas capit flow emerg market | economi | past quarter reflect partial recoveri |
| economi | doubt howev relat strength emerg | economi | polici fundament favor longterm growth |
| polici | howev relat strength emerg economi | polici | fundament favor longterm growth prospect |
| growth | economi polici fundament favor longterm | growth | prospect potenti attract rise flow |
| growth | effect channel inflow potenti acceler | growth | boost econom effici absenc adequ |
| econom | inflow potenti acceler growth boost | econom | effici absenc adequ polici institut |
| polici | boost econom effici absenc adequ | polici | institut framework howev clear capit |
| polici | macroeconom manag reduc effect monetari | polici | creat system stress precrisi russia |
| growth | payment surplus high rate credit | growth | signific upward pressur rubl recent |
| countri | area confirm widelyunderstood insight regard | countri | best meet anticip desir challeng |
| polici | context betterdevelop financi system sound | polici | framework includ credibl monetari fiscal |
| polici | framework includ credibl monetari fiscal | polici | appropri valu flexibl exchang rate |
| need | unders matter like use indic | need | polici adjust adjust cours capit |
| polici | matter like use indic need | polici | adjust adjust cours capit flow |
| also | adjust adjust cours capit flow | also | influenc extern develop independ recipi |
| countri | influenc extern develop independ recipi | countri | polici context maintain pragmat openmind |
| polici | extern develop independ recipi countri | polici | context maintain pragmat openmind attitud |
| polici | control control use substitut appropri | polici | includ structur reform financi sector |
| also | relat limit circumst temporari basi | also | wide held crisi demonstr import |
| economi | held crisi demonstr import emerg | economi | hold larg intern reserv mani |
| polici | financi stabil board second monetari | polici | firm focus establish maintain low |
| economi | system financi risk third emerg | economi | especi stronger polici framework favor |
| polici | third emerg economi especi stronger | polici | framework favor growth prospect anticip |
| growth | especi stronger polici framework favor | growth | prospect anticip sustain increas capit |
| need | general outsiz inflow outflow indic | need | under polici adjust includ flexibl |
| polici | inflow outflow indic need under | polici | adjust includ flexibl exchang rate |
| countri | coher consist manner within individu | countri | global inde mani challeng involv |
| global | consist manner within individu countri | global | inde mani challeng involv central |
| also | mani challeng involv central bank | also | regul govern suggest effect collabor |
| growth | implement framework strong sustain balanc | growth | repres unpreced opportun improv intern |
| need | opportun improv intern policymak implement | need | structur reform establish stronger solidlybas |
| global | structur reform establish stronger solidlybas | global | recoveri imf provid technic support |
| also | short near futur fill challeng | also | unpreced opportun celebr landmark anniversari |
| econom | author singapor invit give address | econom | policymak challeng time challeng bring |
| global | seiz opportun near two year | global | econom financi upheav worst year |
| econom | opportun near two year global | econom | financi upheav worst year shockwav |
| market | recent develop europ result financi | market | volatil three clear messag emerg |
| need | emerg experi lesson learn crisi | need | use forg better balanc inclus |
| global | use forg better balanc inclus | global | economi futur asia posit well |
| economi | forg better balanc inclus global | economi | futur asia posit well set |
| econom | asia posit well set standard | econom | perform polici collabor year ahead |
| polici | well set standard econom perform | polici | collabor year ahead ensur achiev |
| econom | ensur achiev address today discuss | econom | outlook particular asia polici challeng |
| polici | discuss econom outlook particular asia | polici | challeng face build foundat robust |
| econom | face build foundat robust stabl | econom | financi framework see polici challeng |
| polici | stabl econom financi framework see | polici | challeng twofold first polici action |
| polici | see polici challeng twofold first | polici | action need support global recoveri |
| need | challeng twofold first polici action | need | support global recoveri achiev sustain |
| global | first polici action need support | global | recoveri achiev sustain balanc growth |
| growth | global recoveri achiev sustain balanc | growth | path second might strengthen intern |
| econom | reduc risk crisi seen happen | econom | outlook asian strength uncertain world |
| global | outlook asian strength uncertain world | global | recoveri proceed larg part expect |
| growth | part expect see multispe recoveri | growth | uneven across even within region |
| market | recent develop europ associ financi | market | volatil remind us recoveri fragil |
| economi | consider risk yet wood advanc | economi | experienc subdu recoveri given size |
| countri | europ concern fiscal vulner number | countri | come fore japan strong rebound |
| economi | much brighter mani emerg develop | economi | asia lead way growth asia |
| growth | develop economi asia lead way | growth | asia rebound swift output asia |
| growth | singapor well precrisi level singapor | growth | project reach around percent compar |
| countri | minus percent subregion asia asean | countri | indonesia malaysia philippin thailand vietnam |
| global | percent first time asia contribut | global | recoveri outstrip region recoveri mark |
| economi | respect testament asia resili region | economi | improv econom framework put place |
| econom | asia resili region economi improv | econom | framework put place past decad |
| global | past decad asia continu lead | global | economi forward buoy strong recoveri |
| economi | decad asia continu lead global | economi | forward buoy strong recoveri china |
| countri | buoy strong recoveri china india | countri | asia expect grow percent year |
| global | outlook increas uncertainti note earlier | global | outlook remain unusu uncertain downsid |
| economi | risk fiscal vulner mani advanc | economi | key concern room continu polici |
| polici | economi key concern room continu | polici | support becom much limit case |
| market | limit case exhaust develop financi | market | pose major downsid risk global |
| global | market pose major downsid risk | global | economi could negat effect privat |
| economi | pose major downsid risk global | economi | could negat effect privat sovereign |
| market | shock particular concern risk heighten | market | doubt polit effect abil govern |
| need | polit effect abil govern deliv | need | polici measur beyond global risk |
| polici | effect abil govern deliv need | polici | measur beyond global risk risk |
| global | deliv need polici measur beyond | global | risk risk heighten avers riski |
| market | riski asset affect stock bond | market | two issu particular interest asia |
| econom | act swift develop unfold asia | econom | muscl grow polici choic made |
| polici | unfold asia econom muscl grow | polici | choic made region import impact |
| global | choic made region import impact | global | economi polici prioriti secur durabl |
| economi | made region import impact global | economi | polici prioriti secur durabl recoveri |
| polici | region import impact global economi | polici | prioriti secur durabl recoveri action |
| polici | recoveri would like focus three | polici | prioriti pace unwind macroeconom stimulus |
| market | crisi difficult balanc strike reassur | market | critic preserv recoveri littl action |
| market | vulner could result continu financi | market | volatil would advers affect growth |
| growth | market volatil would advers affect | growth | howev tighten fiscal polici much |
| polici | affect growth howev tighten fiscal | polici | much quick could effect right |
| countri | could effect right balanc depend | countri | circumst inde singapor lead exampl |
| polici | inde singapor lead exampl macroeconom | polici | manag transit smooth crisismod except |
| polici | manag transit smooth crisismod except | polici | support fiscal monetari financi alreadi |
| economi | financi alreadi roll back singapor | economi | rebound strong global recess monetari |
| global | back singapor economi rebound strong | global | recess monetari fiscal polici return |
| polici | strong global recess monetari fiscal | polici | return larg neutral stanc plan |
| need | guarante track anoth part stori | need | rebal global demand secur sustain |
| global | anoth part stori need rebal | global | demand secur sustain high global |
| global | global demand secur sustain high | global | growth common challeng mani asian |
| growth | demand secur sustain high global | growth | common challeng mani asian economi |
| economi | growth common challeng mani asian | economi | nurtur privat domest demand engin |
| growth | nurtur privat domest demand engin | growth | financi sector reform growthenhanc structur |
| polici | financi sector reform growthenhanc structur | polici | help flexibl exchang rate bring |
| polici | flexibl exchang rate bring second | polici | prioriti financi sector reform need |
| need | polici prioriti financi sector reform | need | last financi stabil fulli appreci |
| also | strike promot safeti financi system | also | keep innov effici crisi regul |
| global | grasp benefit introduc propos discuss | global | exampl korean bank requir gradual |
| also | previous percent financi sector reform | also | help tackl third polici prioriti |
| polici | reform also help tackl third | polici | prioriti manag volatil capit flow |
| polici | capit flow common theme across | polici | challeng collabor approach need region |
| need | across polici challeng collabor approach | need | region global level today world |
| global | challeng collabor approach need region | global | level today world polici one |
| polici | region global level today world | polici | one countri often farreach effect |
| countri | level today world polici one | countri | often farreach effect other particular |
| need | farreach effect other particular true | need | mani advanc countri consolid fiscal |
| countri | particular true need mani advanc | countri | consolid fiscal posit come year |
| need | posit come year offset demand | need | come elsewher global economi includ |
| global | offset demand need come elsewher | global | economi includ asia meet grow |
| economi | demand need come elsewher global | economi | includ asia meet grow need |
| need | economi includ asia meet grow | need | modern infrastructur clear polici prioriti |
| polici | grow need modern infrastructur clear | polici | prioriti anoth exampl regulatori reform |
| need | exampl regulatori reform regulatori chang | need | move step ensur consist set |
| polici | move step ensur consist set | polici | place reduc opportun financi firm |
| countri | better job highlight spillov one | countri | polici other point risk emerg |
| polici | job highlight spillov one countri | polici | other point risk emerg clearer |
| econom | multilater surveil assess vulner asia | econom | power set rise policymak region |
| polici | import opportun oblig lead collabor | polici | approach even domest demand play |
| economi | demand play grow role asia | economi | region increas becom integr global |
| global | economi region increas becom integr | global | economi integr rais potenti spillov |
| economi | region increas becom integr global | economi | integr rais potenti spillov posit |
| need | approach policymak essenti asia world | need | asian leadership sustain global growth |
| global | world need asian leadership sustain | global | growth develop polici mechan contend |
| growth | need asian leadership sustain global | growth | develop polici mechan contend new |
| polici | leadership sustain global growth develop | polici | mechan contend new global realiti |
| global | develop polici mechan contend new | global | realiti reform intern monetari system |
| global | financi system quick becam truli | global | crisi highlight number imperfect intern |
| global | intern monetari system first among | global | econom imbal built mani year |
| econom | monetari system first among global | econom | imbal built mani year crisi |
| also | rapid core rest world imperfect | also | part explain rapid buildup foreign |
| market | exchang reserv across mani emerg | market | countri reserv accumul precautionari selfinsur |
| countri | reserv across mani emerg market | countri | reserv accumul precautionari selfinsur nonprecautionari |
| market | reserv compar year ago emerg | market | reserv reach near time shortterm |
| also | crisi well excess tradit norm | also | reserv concentr hand countri asia |
| countri | norm also reserv concentr hand | countri | asia address issu affect demand |
| countri | would reduc exposur system individu | countri | risk stem singl countri multipolar |
| countri | individu countri risk stem singl | countri | multipolar reserv system may enjoy |
| polici | altern provid safeti valv unsound | polici | singl reserv issuer multipolar system |
| market | match depth liquid u dollar | market | widespread use altern reserv asset |
| countri | use altern reserv asset happen | countri | see benefit transit diversifi system |
| need | diversifi system reserv holder would | need | adjust portfolio gradual mechan collabor |
| also | portfolio gradual mechan collabor would | also | essenti bolster stabil adjust process |
| polici | let conclud thought rang magnitud | polici | challeng face countri region system |
| countri | rang magnitud polici challeng face | countri | region system whole indic depth |
| global | whole indic depth linger effect | global | financi crisi enorm opportun opportun |
| global | opportun opportun secur stronger inclus | global | financi order turn sustain global |
| global | global financi order turn sustain | global | growth financi stabil intern cooper |
| growth | financi order turn sustain global | growth | financi stabil intern cooper import |
| global | ever asia lead forc reshap | global | economi asia voic econom success |
| economi | asia lead forc reshap global | economi | asia voic econom success polici |
| econom | reshap global economi asia voic | econom | success polici leadership louder ever |
| polici | economi asia voic econom success | polici | leadership louder ever today event |
| global | imf given enorm challeng face | global | economi confer offer great opportun |
| economi | given enorm challeng face global | economi | confer offer great opportun share |
| need | challeng one thing doubt world | need | strong asia asia need strong |
| need | world need strong asia asia | need | strong world thank much |
| global | macro issu highlight macroprudenti linkag | global | financi crisi show us micro |
| need | regul microsupervis enough macro consider | need | integr part effort attain sustain |
| also | confer show challeng progress nevertheless | also | critic develop macroprudenti approach manag |
| growth | macroprudenti approach manag financi stabil | growth | crisi show us need evalu |
| need | stabil growth crisi show us | need | evalu respond individu institut also |
| also | need evalu respond individu institut | also | system whole nation global crisi |
| global | institut also system whole nation | global | crisi show us need pay |
| need | nation global crisi show us | need | pay particular attent linkag across |
| market | import interconnected interdepend financi institut | market | domest econom stabil stabil intern |
| econom | interdepend financi institut market domest | econom | stabil stabil intern monetari system |
| market | monetari system robust financi institut | market | close tie togeth import unregul |
| econom | system import short long term | econom | financi cycl assess risk recov |
| global | financi cycl assess risk recov | global | financi crisi face macroeconom develop |
| global | bring addit challeng excess liquid | global | liquid cycl start acceler second |
| countri | cycl start acceler second half | countri | author began undertak unpreced liquidityeas |
| economi | measur mitig effect crisi advanc | economi | m doubl trillion trillion reserv |
| growth | stabil financi system support return | growth | current easi global liquid condit |
| global | support return growth current easi | global | liquid condit accompani surg capit |
| polici | accompani surg capit flow pose | polici | challeng number countri crisi origin |
| countri | flow pose polici challeng number | countri | crisi origin strong capit flow |
| market | eme set continu time emerg | market | economi experienc resurg capit flow |
| economi | set continu time emerg market | economi | experienc resurg capit flow inflow |
| economi | recoveri differ fiscal posit develop | economi | emerg economi interest rate differenti |
| economi | fiscal posit develop economi emerg | economi | interest rate differenti signific portion |
| countri | onset crisi led govern crisi | countri | provid fiscal support weak financi |
| market | fiscal support weak financi institut | market | global economi improv risk financi |
| global | support weak financi institut market | global | economi improv risk financi stabil |
| economi | weak financi institut market global | economi | improv risk financi stabil subsid |
| global | rapid accumul public debt alter | global | risk profil sovereign debt level |
| economi | profil sovereign debt level develop | economi | high rise vulner increas eman |
| market | could translat shortterm strain fund | market | investor requir higher yield compens |
| countri | term fund challeng face advanc | countri | bank may negat implic recoveri |
| also | system high leverag matur mismatch | also | see risk spread across sector |
| market | measur final schedul reduc uncertainti | market | provid credibl reform process ensur |
| also | manifest yet new shape form | also | underscor need get effort right |
| need | new shape form also underscor | need | get effort right proper comprehens |
| econom | measur manner advers affect nascent | econom | recoveri particip activ discuss standard |
| also | troubl system bank nonbank institut | also | request g expand surveil financi |
| market | risk identifi system import institut | market | fund work intern bodi develop |
| countri | make everi effort help member | countri | fsap tas highlight vulner also |
| also | countri fsap tas highlight vulner | also | help design reform reduc vulner |
| also | address issu relat monetari stabil | also | pois address emerg issu feed |
| global | system promot intern cooper recogn | global | world interconnect financi system uneven |
| countri | uneven implement reform agenda across | countri | could lead regulatori arbitrag migrat |
| global | risk less regul jurisdict put | global | financi system risk make intern |
| polici | initi undertaken fund player intern | polici | arena intent run complet list |
| countri | varieti front object assist member | countri | make financi system safer sounder |
| growth | sounder keep goal steadi robust | growth | mind task goal countri privileg |
| countri | robust growth mind task goal | countri | privileg support work share vision |
| global | support work share vision secur | global | financi system world integr nation |
| also | risk public debt burden must | also | continu effort build safer financi |
| polici | must therefor major thrust intern | polici | agenda support regulatori reform process |
| need | right balanc bank nonbank reform | need | make bank safer also entir |
| also | reform need make bank safer | also | entir financi system area nonbank |
| need | deleverag system earli day crisi | need | done regard nonbank financi intermedi |
| need | fault line expos crisi address | need | appropri level bank capit liquid |
| need | adopt new rule capit liquid | need | care plan fair sure impact |
| economi | individu collect financi system overal | economi | adopt get calibr steadi state |
| countri | regul nation appropri intern consist | countri | less affect crisi may see |
| need | less affect crisi may see | need | implement new reform financi global |
| global | need implement new reform financi | global | world howev uneven regul across |
| countri | may lead migrat riski activ | countri | lowest regulatori requir would put |
| global | financi system risk ultim endang | global | financi system certain critic minimum |
| countri | standard establish uniform way across | countri | pillar standard may dealt nation |
| market | tendenc toward overregul perhap stifl | market | innov effici intermedi without doubt |
| need | innov effici intermedi without doubt | need | move prompt adopt regulatori reform |
| need | bank lend engag busi bank | need | mind reform implement like implic |
| need | system transit cost may unavoid | need | sacrific sustain econom growth let |
| econom | may unavoid need sacrific sustain | econom | growth let close say lot |
| growth | unavoid need sacrific sustain econom | growth | let close say lot still |
| need | let close say lot still | need | settl regard futur financi regul |
| global | sustain coordin across membership redesign | global | financi standard benefit member thank |
| global | peruvian govern invit share thought | global | region outlook well pend challeng |
| global | region outlook well pend challeng | global | economi come long way sinc |
| economi | outlook well pend challeng global | economi | come long way sinc onset |
| global | come long way sinc onset | global | financi crisi know crisi erupt |
| market | know crisi erupt u hous | market | soon engulf whole world especi |
| econom | world especi collaps lehman brother | econom | activ world began tumbl dizzi |
| polici | happen instead thank bold rapid | polici | respons policymak world deliv atmospher |
| polici | policymak world deliv atmospher unpreced | polici | cooper global econom activ rise |
| global | deliv atmospher unpreced polici cooper | global | econom activ rise world emerg |
| econom | atmospher unpreced polici cooper global | econom | activ rise world emerg crisi |
| global | world emerg crisi key lesson | global | recoveri come global cooper great |
| global | key lesson global recoveri come | global | cooper great legaci troubl time |
| countri | cloud yet pass happen one | countri | easili reverber across border often |
| global | often lightn speed go alon | global | region outlookth global recoveri proceed |
| global | go alon global region outlookth | global | recoveri proceed although differ speed |
| global | proceed although differ speed expect | global | growth hit  ¼ percent |
| growth | although differ speed expect global | growth | hit  ¼ percent faster |
| market | faster previous expect still fragil | market | unsettl signific fiscal consolid challeng |
| countri | signific fiscal consolid challeng face | countri | world still danger place downsid |
| economi | event europ reinforc messag advanc | economi | recoveri lukewarm given high unemploy |
| market | time situat mark differ emerg | market | recoveri far robust reflect strong |
| global | reflect strong intern demand rebound | global | trade cours countri make polici |
| countri | demand rebound global trade cours | countri | make polici mistak asia latin |
| polici | global trade cours countri make | polici | mistak asia latin america ahead |
| countri | latin america caribbean region uneven | countri | follow sound polici like peru |
| polici | region uneven countri follow sound | polici | like peru fare rather well |
| countri | peru fare rather well better | countri | region better past hand countri |
| countri | countri region better past hand | countri | central america took longer recov |
| countri | took longer recov tourismdepend caribbean | countri | still suffer good perform general |
| countri | general associ good start posit | countri | make mistak mani advanc countri |
| countri | countri make mistak mani advanc | countri | go debtfuel spend bing use |
| polici | mistak embrac cautious prudent macroeconom | polici | storm arriv levi firm place |
| countri | storm arriv levi firm place | countri | save raini day could use |
| polici | raini day could use fiscal | polici | cushion downturn support employ inde |
| countri | inde first time histori mani | countri | region abl implement countercycl monetari |
| polici | abl implement countercycl monetari fiscal | polici | also benefit flexibl exchang rate |
| also | implement countercycl monetari fiscal polici | also | benefit flexibl exchang rate signific |
| polici | intern reserv buffer credibl monetari | polici | bank system corpor sector general |
| polici | perfect exampl strong fundament proactiv | polici | preserv gain growth employ poverti |
| growth | fundament proactiv polici preserv gain | growth | employ poverti reduct recoveri strong |
| countri | employ poverti reduct recoveri strong | countri | face challeng associ strong capit |
| polici | inflow overh way victim success | polici | challengeslet turn key polici challeng |
| polici | success polici challengeslet turn key | polici | challeng latin america caribbean particular |
| economi | reduc sovereign vulner especi advanc | economi | countri public debt expect reach |
| countri | sovereign vulner especi advanc economi | countri | public debt expect reach stagger |
| countri | fiscal stimulus plan fulli except | countri | face financ pressur recoveri proceed |
| financ | plan fulli except countri face | financ | pressur recoveri proceed expect advanc |
| economi | pressur recoveri proceed expect advanc | economi | start adjust entitl reform affect |
| market | affect demand implement sooner emerg | market | includ latin america caribbean concern |
| polici | dampen excess capit inflow monetari | polici | least major advanc economi monetari |
| economi | monetari polici least major advanc | economi | monetari tighten take back seat |
| economi | expect remain low well anchor | economi | ahead recoveri curv includ emerg |
| market | ahead recoveri curv includ emerg | market | overh risk increas signal need |
| need | market overh risk increas signal | need | time action second key issu |
| countri | region challeng rebound capit inflow | countri | strong fundament like peru other |
| polici | flow effect avoid buildup vulner | polici | respons must pragmat rang tool |
| polici | appreci reserv accumul tighter fiscal | polici | macroprudenti measur capit control sometim |
| need | sometim play role use avoid | need | adjust third challeng relat social |
| econom | social issu unemploy stay high | econom | crisi quick turn social crisi |
| market | turn social crisi specif labor | market | polici help limit damag adequ |
| polici | social crisi specif labor market | polici | help limit damag adequ unemploy |
| also | increas poverti educ train program | also | help recess mani countri preserv |
| countri | program also help recess mani | countri | preserv basic social spend social |
| countri | safeti net someth imf push | countri | program think incred import protect |
| also | import protect vulner ravag crisi | also | contribut social polit stabil latin |
| countri | stabil latin american caribbean region | countri | like peru made immens social |
| countri | follow debt crisi time differ | countri | alloc fund social polici social |
| polici | differ countri alloc fund social | polici | social safeti net provid crucial |
| also | swath popul share incom gain | also | contribut widespread social polit instabl |
| econom | social polit instabl turn hurt | econom | prospect today region tide turn |
| countri | today region tide turn number | countri | still way go mani inequ |
| need | go mani inequ remain high | need | spend educ healthcar complement support |
| need | would like leav thought first | need | intern cooper ever challeng becom |
| growth | complex world becom smaller center | growth | becom divers happen global govern |
| global | center growth becom divers happen | global | govern must becom repres repres |
| countri | repres seen still leav mani | countri | second believ imf play import |
| global | imf play import role har | global | cooper emphas public good global |
| global | global cooper emphas public good | global | financi stabil reform govern structur |
| market | govern structur enhanc voic emerg | market | develop countri crisi respons fast |
| countri | enhanc voic emerg market develop | countri | crisi respons fast flexibl dramat |
| need | includ region continu adapt meet | need | member also need commit collabor |
| also | continu adapt meet need member | also | need commit collabor put global |
| need | adapt meet need member also | need | commit collabor put global interest |
| global | also need commit collabor put | global | interest first recent partnership europ |
| econom | part world play favorit third | econom | strategi chosen countri region vindic |
| countri | favorit third econom strategi chosen | countri | region vindic crisi right other |
| econom | buffer rebuilt region readi futur | econom | disloc final social progress must |
| growth | alway go handinhand macroeconom stabil | growth | must benefit mani social safeti |
| need | social safeti net must provid | need | econom secur twin macroeconom stabil |
| econom | safeti net must provid need | econom | secur twin macroeconom stabil social |
| growth | era latin america caribbean strong | growth | rais live standard shift region |
| polici | supervisori bodi paradox success monetari | polici | promot macroeconom stabil may contribut |
| global | financi imbal low interest rate | global | context prolong econom expans earli |
| econom | interest rate global context prolong | econom | expans earli may led market |
| market | econom expans earli may led | market | particip underestim risk mani asset |
| global | compress yield curv spread associ | global | save glut widen current account |
| polici | stabil central bank contribut macroprudenti | polici | wake crisi increas recogn new |
| need | increas recogn new prudenti tool | need | develop appli part larger polici |
| polici | need develop appli part larger | polici | effort mitig system financi risk |
| need | macroprudenti regul financi regul supervis | need | increas take system view address |
| polici | macro manag key role macroprudenti | polici | address time dynam aspect system |
| polici | encourag prudent lend standard collater | polici | loan tovalu ratio third option |
| market | option alreadi test number emerg | market | economi regulatori tool work automat |
| economi | alreadi test number emerg market | economi | regulatori tool work automat stabil |
| need | financi imbal build would sure | need | complement flexibl care judgment policymak |
| polici | care judgment policymak adjust prudenti | polici | set respons macroeconom develop credit |
| growth | set respons macroeconom develop credit | growth | high leverag buildup risk particular |
| also | macroprudenti tool central bank like | also | take strong interest design effect |
| polici | sheet may complic conduct monetari | polici | central bank therefor good reason |
| polici | therefor good reason involv macroprudenti | polici | answer depend exist regulatori supervisori |
| need | whatev start point institut arrang | need | recogn interact monetari macroprudenti polici |
| polici | need recogn interact monetari macroprudenti | polici | ensur independ conduct monetari polici |
| polici | polici ensur independ conduct monetari | polici | concret monetari polici macroprudenti polici |
| polici | conduct monetari polici concret monetari | polici | macroprudenti polici conduct central bank |
| polici | polici concret monetari polici macroprudenti | polici | conduct central bank latter govern |
| polici | bank latter govern separ monetari | polici | reduc potenti threat independ conduct |
| polici | potenti threat independ conduct monetari | polici | might otherwis aris enhanc role |
| polici | aris enhanc role regul monetari | polici | institut separ prudenti regul supervis |
| need | prudenti regul supervis institut arrang | need | ensur view central bank adequ |
| polici | adequ taken account conduct macroprudenti | polici | monetari polici framework chang turn |
| polici | account conduct macroprudenti polici monetari | polici | framework chang turn issu lesson |
| polici | issu lesson draw crisi monetari | polici | clear nowaday macrofinanci polici framework |
| polici | monetari polici clear nowaday macrofinanci | polici | framework need enhanc deliv price |
| need | clear nowaday macrofinanci polici framework | need | enhanc deliv price financi stabil |
| need | next question best done adjust | need | monetari polici view appropri arrang |
| polici | best done adjust need monetari | polici | view appropri arrang monetari polici |
| polici | polici view appropri arrang monetari | polici | continu gear preserv price stabil |
| polici | gear preserv price stabil financi | polici | gear preserv financi stabil alreadi |
| polici | must remain primari object monetari | polici | support central bank independ well |
| need | stabil maintain howev mean adjust | need | concern conduct monetari polici postcrisi |
| polici | adjust need concern conduct monetari | polici | postcrisi world monetari polici affect |
| polici | monetari polici postcrisi world monetari | polici | affect affect financi condit view |
| polici | condit view key lesson monetari | polici | crisi need central bank integr |
| need | key lesson monetari polici crisi | need | central bank integr macrofinanci linkag |
| polici | much systemat macroeconom analysi monetari | polici | decis make requir strengthen monitor |
| polici | system level particular challeng monetari | polici | maker deal financi imbal develop |
| polici | horizon usual consid relev monetari | polici | decis one approach deal problem |
| polici | deal problem central bank extend | polici | horizon price stabil allow nonmechanist |
| polici | imbal would impli symmetr monetari | polici | busi cycl lean good time |
| polici | shortterm variabl inflat avoid undermin | polici | credibl central bank would need |
| need | polici credibl central bank would | need | transpar financi stabil concern factor |
| polici | transpar financi stabil concern factor | polici | decis consist action price stabil |
| polici | relev role facilit monitor monetari | polici | said think research need make |
| need | monetari polici said think research | need | make idea oper c central |
| polici | bank domain must fulli consist | polici | goal object clear communic oper |
| market | reflect would facilit proper understand | market | public essenti deanchor inflat expect |
| financ | valid point critic provid emerg | financ | individu institut system implic also |
| also | financ individu institut system implic | also | wellanalyz marketwid intervent third regulatori |
| market | regulatori perimet widen encompass institut | market | could potenti requir lender last |
| market | well implement mitig moral hazard | market | distort anoth import lesson crisi |
| polici | allow pose risk independ consequ | polici | role central bank govern entiti |
| need | role central bank govern entiti | need | clear delin thank |
| financ | particip seminar cohost japanes ministri | financ | imf region offic asia pacif |
| econom | european central bank measur strengthen | econom | financi stabil eurozon improv market |
| market | econom financi stabil eurozon improv | market | function turn boost market confid |
| market | improv market function turn boost | market | confid togeth strong implement euro |
| countri | togeth strong implement euro area | countri | notabl action put public financ |
| financ | countri notabl action put public | financ | sustain path help sustain global |
| global | financ sustain path help sustain | global | recoveri fund part call upon |
| econom | individu adjust program design monitor | econom | measur provid financi support alongsid |
| market | recent turbul southern european financi | market | imf assess deep global downturn |
| global | financi market imf assess deep | global | downturn avert world economi stage |
| economi | deep global downturn avert world | economi | stage recoveri notabl asia vanguard |
| polici | larg part reflect concert coordin | polici | action general howev global recoveri |
| global | coordin polici action general howev | global | recoveri remain sluggish uneven still |
| need | recoveri remain sluggish uneven still | need | polici support moreov recent event |
| polici | remain sluggish uneven still need | polici | support moreov recent event greec |
| need | across globe financi sector still | need | repair public debt risen sharpli |
| countri | repair public debt risen sharpli | countri | includ larg advanc one welcom |
| need | resumpt largescal capit inflow underscor | need | emerg market countri prepar meet |
| market | capit inflow underscor need emerg | market | countri prepar meet new challeng |
| countri | inflow underscor need emerg market | countri | prepar meet new challeng recoveri |
| countri | disrupt capit account crise provid | countri | access credibl global financi safeti |
| global | crise provid countri access credibl | global | financi safeti net today seminar |
| global | asian perspect issu effort reshap | global | financi architectur still much discuss |
| global | close coordin reform know coher | global | approachto issu offer best chanc |
| polici | best chanc limit risk uncoordin | polici | distort capit flow regulatori arbitrag |
| global | supervis futur role imf strengthen | global | financi safeti net build resili |
| global | financi safeti net build resili | global | financi framework reform prioriti turn |
| global | prioriti turn first challeng face | global | financi system wake crisi consensus |
| need | crisi consensus form import reform | need | ensur financi sector support growth |
| growth | need ensur financi sector support | growth | effici alloc resourc without leav |
| economi | effici alloc resourc without leav | economi | vulner disrupt crise broad agreement |
| need | crisi resolut mechan addit recognit | need | creat effect appropri limit leverag |
| need | new standard desir greater stabil | need | balanc care risk excess intervent |
| financ | mechan present initi analysi g | financ | minist central bank governor recent |
| global | lose sight overarch motiv drive | global | reform effort reduc risk costli |
| econom | burden thus stifl innov vital | econom | growth implic asia could reform |
| growth | thus stifl innov vital econom | growth | implic asia could reform effort |
| global | sure figur promin reform enact | global | less effect crisi asia bank |
| countri | requir fact japan one first | countri | adopt baselii addit need curb |
| need | first countri adopt baselii addit | need | curb riski behavior less press |
| also | high relianc shortterm wholesal fund | also | leverag limit includ govern secur |
| countri | affect cours reform prioriti differ | countri | reflect wide differ experi recent |
| countri | differ experi recent crisi howev | countri | immun risk futur inevit global |
| global | countri immun risk futur inevit | global | financi crisi inde bank regul |
| econom | quick reform could stifl stillfragil | econom | recoveri rigid approach would unfair |
| countri | effect end set phase base | countri | circumst howev earli agreement reform |
| need | system unduli burden time mani | need | build capit addit relev offici |
| countri | sheet refin demonstr benefit come | countri | care consid contribut discours reform |
| global | arbitrag would littl safeguard stabil | global | system whole imf colleagu consid |
| market | macroprudenti factor encourag far emerg | market | appear drawn right lesson crisi |
| market | new progress develop asia financi | market | becom even import stronger domest |
| also | direct like strengthen capit flow | also | help make best use region |
| global | use region signific save multilay | global | financi safeti net imf st |
| need | key lesson crisi broad consensus | need | strengthen global financi safeti net |
| global | crisi broad consensus need strengthen | global | financi safeti net reform outlin |
| need | risk aris look ahead world | need | multilay global financi safeti net |
| global | look ahead world need multilay | global | financi safeti net provid adequ |
| financ | lend facil core work concert | financ | vehicl region financ arrang central |
| financ | work concert financ vehicl region | financ | arrang central bank swap line |
| polici | abil catalyz privat lend agre | polici | framework central bank natur advantag |
| market | liquid pressur especi among major | market | fed recent reactiv dollar swap |
| market | avail adequ dollar liquid key | market | time pool risk region financ |
| financ | market time pool risk region | financ | arrang help address idiosyncrat shock |
| economi | address idiosyncrat shock hit individu | economi | provid critic financ broad array |
| financ | hit individu economi provid critic | financ | broad array countri last two |
| countri | provid critic financ broad array | countri | last two year fund play |
| global | fund play part central pillar | global | financi safeti net crisi shown |
| global | crisi shown serv truli depend | global | lender last resort fund need |
| need | global lender last resort fund | need | adequ resourc past year resourc |
| global | howev envelop still smaller share | global | gdp fund creat clear provid |
| financ | prevent facil world extens crossbord | financ | impli need adequ conting liabil |
| need | world extens crossbord financ impli | need | adequ conting liabil order back |
| also | month cours amount resourc matter | also | deploy last year overhaul general |
| countri | lend framework make better suit | countri | need introduc flexibl credit line |
| need | framework make better suit countri | need | introduc flexibl credit line fcl |
| polici | without expost condit member strong | polici | mexico columbia poland use fcl |
| market | fcl success help stabil financi | market | crisi tradit crisi resolut financ |
| financ | market crisi tradit crisi resolut | financ | streamlin condit focus measur essenti |
| countri | condit focus measur essenti particular | countri | regain macroeconom stabil look ahead |
| financ | order boost avail precautionari crisi | financ | membership instanc could make fcl |
| market | liquid time way respons futur | market | strain also explor could increas |
| also | way respons futur market strain | also | explor could increas collabor region |
| polici | clarifi imf crucial role deal | polici | challeng potenti financi need eurozon |
| need | deal polici challeng potenti financi | need | eurozon also show imf integr |
| also | challeng potenti financi need eurozon | also | show imf integr role play |
| econom | imf integr role play sustain | econom | financi stabil advanc well emerg |
| economi | financi stabil advanc well emerg | economi | imf play effect role provid |
| global | imf play effect role provid | global | insur need ensur confid trust |
| need | effect role provid global insur | need | ensur confid trust member countri |
| countri | need ensur confid trust member | countri | without imposs succeed effort strengthen |
| countri | reform agre reform underrepres asian | countri | stand gain near percentag point |
| countri | percentag point quota overrepres underrepres | countri | earli shift benefit dynam emerg |
| market | earli shift benefit dynam emerg | market | develop countri region close thought |
| countri | benefit dynam emerg market develop | countri | region close thought japan asia |
| global | histor opportun fact oblig redefin | global | financi order make stronger resili |
| growth | stronger resili better abl promot | growth | prosper asia cours epicent crisi |
| global | shape futur financi system role | global | economi next sever decad asia |
| economi | futur financi system role global | economi | next sever decad asia lead |
| also | imf provid region key platform | also | strong repres new major institut |
| global | histori region whole abil influenc | global | polici make moreov interest unpreced |
| polici | region whole abil influenc global | polici | make moreov interest unpreced global |
| global | polici make moreov interest unpreced | global | coordin hallmark crisi togeth deliv |
| need | crisi togeth deliv financi reform | need | sustain growth postcrisi year japan |
| growth | deliv financi reform need sustain | growth | postcrisi year japan alreadi shown |
| countri | japan alreadi shown way first | countri | provid extra resourc imf generous |
| global | year london g summit power | global | economi come decad region need |
| economi | london g summit power global | economi | come decad region need resili |
| need | global economi come decad region | need | resili financi system support growth |
| growth | need resili financi system support | growth | sound intermedi effici capit alloc |
| global | innov time put place comprehens | global | financi safeti net would help |
| economi | includ shift within asia matur | economi | less develop one rapid growth |
| growth | economi less develop one rapid | growth | opportun turn could promot region |
| also | vision east asia communiti imf | also | play part region activ partnership |
| econom | figur around world showcas asia | econom | dynam evolv role intern policymak |
| financ | asia pacif oap japanes ministri | financ | seminar reshap global financi landscap |
| global | japanes ministri financ seminar reshap | global | financi landscap implic asia tokyo |
| need | topic event recent day reinforc | need | robust global monetari financi system |
| global | recent day reinforc need robust | global | monetari financi system though immedi |
| also | time discuss broader issu let | also | extend special thank hildebrand swiss |
| need | us crisi opportun mani spoken | need | strengthen system increas resili recurr |
| need | lesson take deliber bear mind | need | pragmat cours pragmat done nearterm |
| need | seem focus key imperfect system | need | plug system becom resili reserv |
| countri | buildup foreign exchang reserv across | countri | threefold increas global reserv past |
| global | reserv across countri threefold increas | global | reserv past year mani em |
| countri | extent counterpart reserv accumul mani | countri | pursu current account surplus aggreg |
| countri | alloc would reduc system individu | countri | exposur risk stem singl countri |
| countri | countri exposur risk stem singl | countri | achiev need diversif would requir |
| need | risk stem singl countri achiev | need | diversif would requir coordin long |
| global | sdr basket final principl new | global | currenc issu global central bank |
| global | principl new global currenc issu | global | central bank robust govern institut |
| global | asset system independ nation currenc | global | central bank could also serv |
| also | currenc global central bank could | also | serv lender last resort step |
| need | requir consider debat merit includ | need | safeti valv system given error |
| global | requir fear still far level | global | collabor let conclud benefit cost |
| polici | discret choic exchang rate reserv | polici | polici capit flow given countri |
| polici | choic exchang rate reserv polici | polici | capit flow given countri import |
| countri | polici polici capit flow given | countri | import instrument help achiev domest |
| polici | import instrument help achiev domest | polici | object underpin larg expans global |
| global | polici object underpin larg expans | global | trade global output imperfect absenc |
| global | underpin larg expans global trade | global | output imperfect absenc automat adjust |
| global | capit flow analysi spillov improv | global | financi safeti net enhanc role |
| need | role area step taken debat | need | continu merit feasibl much ambiti |
| global | issu perhap start defin mean | global | intern monetari system im im |
| polici | transact name exchang rate reserv | polici | polici govern current financi transact |
| polici | name exchang rate reserv polici | polici | govern current financi transact recent |
| global | recent financi crisi origin core | global | financi monetari system spread rapid |
| economi | system spread rapid part world | economi | caus sever disrupt far epicent |
| economi | u away one might expect | economi | midst financi crisi paradox point |
| countri | buildup foreign exchang reserv across | countri | reach percent global gdp today |
| global | reserv across countri reach percent | global | gdp today threefold increas ten |
| market | increas ten year ago emerg | market | reserv coverag far exceed tradit |
| countri | extern debt reserv concentr hand | countri | asia prospect reform address imperfect |
| growth | nonprecautionari motiv primarili consequ exportl | growth | strategi iii structur reason intergener |
| countri | asset would natur reduc individu | countri | exposur risk stem singl countri |
| countri | countri exposur risk stem singl | countri | multipolar reserv system like develop |
| market | match depth liquid u dollar | market | widespread use altern reserv asset |
| polici | altern provid safeti valv unsound | polici | singl reserv issuer encourag order |
| need | diversifi system reserv holder may | need | adjust portfolio gradual mechan collabor |
| global | system would requir principl new | global | currenc bancor honor keyn propos |
| global | honor keyn propos solut issu | global | central bank robust govern institut |
| global | asset system independ nation currenc | global | central bank could also serv |
| also | currenc global central bank could | also | serv lender last resort step |
| polici | discret choic exchang rate reserv | polici | polici capit flow given countri |
| polici | choic exchang rate reserv polici | polici | capit flow given countri import |
| countri | polici polici capit flow given | countri | import instrument help achiev domest |
| polici | import instrument help achiev domest | polici | object underpin larg expans global |
| global | polici object underpin larg expans | global | trade global output imperfect absenc |
| global | underpin larg expans global trade | global | output imperfect absenc automat adjust |
| global | better surveil capit flow improv | global | financi safeti net peer pressur |
| econom | opportun speak meet remark touch | econom | outlook briefli talk main polici |
| polici | econom outlook briefli talk main | polici | challeng region also take advantag |
| also | talk main polici challeng region | also | take advantag opportun give overview |
| econom | strengthen engag asia let start | econom | outlook note previous speaker global |
| global | econom outlook note previous speaker | global | outlook shape better expect imf |
| growth | better expect imf forecast world | growth | close percent year upward revis |
| econom | almost percentag point octob world | econom | outlook continu similar pace howev |
| growth | multispe recoveri high uneven distribut | growth | across globe diverg growth trajectori |
| growth | distribut growth across globe diverg | growth | trajectori across world view root |
| econom | three key challeng face asean | econom | policymak period ahead first extern |
| economi | region remain fragil sever advanc | economi | high unemploy weaken household balanc |
| growth | restrain invest imf estim credit | growth | return posit territori us euro |
| market | public debt burden could undermin | market | confid environ exit polici stimulus |
| polici | undermin market confid environ exit | polici | stimulus asean economi need take |
| economi | environ exit polici stimulus asean | economi | need take account uncertain strength |
| need | exit polici stimulus asean economi | need | take account uncertain strength extern |
| economi | price financi stabil sever region | economi | time stimulus withdraw arriv alreadi |
| global | fast downsid risk still weigh | global | econom outlook exit strategi must |
| econom | downsid risk still weigh global | econom | outlook exit strategi must abl |
| polici | gradual respons earli communic direct | polici | key support confid anchor expect |
| polici | support confid anchor expect safeguard | polici | flexibl angl remov fiscal stimulus |
| economi | remov fiscal stimulus plan asean | economi | seem general appropri sinc target |
| polici | target support measur kept place | polici | insur purpos second surg capit |
| growth | emerg asia go forward brighter | growth | prospect widen interest rate differenti |
| economi | rate differenti visà vi advanc | economi | like continu attract capit region |
| global | capit region risk appetit return | global | deleverag play economi could lead |
| economi | appetit return global deleverag play | economi | could lead overh imbal asset |
| market | lead overh imbal asset credit | market | risk abrupt capit revers sentiment |
| economi | shift thus policymak number asean | economi | face challeng nurtur recoveri curb |
| polici | pose spike capit inflow right | polici | respons depend cours individu countri |
| countri | polici respons depend cours individu | countri | circumst option includ fiscal tighten |
| also | rate care design capit control | also | part appropri respons certain circumst |
| economi | appropri respons certain circumst exampl | economi | oper near potenti flow like |
| polici | last medium term region main | polici | challeng ensur privat domest demand |
| growth | domest demand becom promin sourc | growth | inventori upcycl benefit region run |
| economi | run cours asia export advanc | economi | expect moder demand economi held |
| economi | advanc economi expect moder demand | economi | held back time damag balanc |
| economi | emerg asia weaker demand advanc | economi | relat size china import market |
| market | economi relat size china import | market | small inde crisi shown asean |
| growth | member vital import second intern | growth | engin cushion impact extern shock |
| growth | shock multilater perspect strong sustain | growth | need better balanc global demand |
| need | multilater perspect strong sustain growth | need | better balanc global demand unless |
| global | sustain growth need better balanc | global | demand unless countri excess current |
| countri | better balanc global demand unless | countri | excess current account surplus crisi |
| growth | crisi develop new sourc demand | growth | togeth necessari adjust countri excess |
| countri | demand growth togeth necessari adjust | countri | excess extern deficit world economi |
| economi | countri excess extern deficit world | economi | attain high growth path broad |
| growth | deficit world economi attain high | growth | path broad array measur includ |
| market | includ reform product labor financi | market | well fiscal structur exchang rate |
| polici | well fiscal structur exchang rate | polici | potenti produc success shift pattern |
| growth | potenti produc success shift pattern | growth | specif cours vari countri countri |
| countri | pattern growth specif cours vari | countri | countri overarch object support privat |
| countri | growth specif cours vari countri | countri | overarch object support privat demand |
| countri | privat demand develop nontrad sector | countri | may need increas consumpt other |
| need | develop nontrad sector countri may | need | increas consumpt other need promot |
| need | may need increas consumpt other | need | promot privat invest asean economi |
| economi | need promot privat invest asean | economi | broadbas reform improv environ privat |
| growth | human capit innov key element | growth | strategi challeng global region environ |
| global | key element growth strategi challeng | global | region environ set context final |
| countri | goal make flexibl use member | countri | believ much accomplish much need |
| need | countri believ much accomplish much | need | done allow mention chang particular |
| econom | imf better posit effect partner | econom | policymak asia exampl tailor advic |
| polici | policymak asia exampl tailor advic | polici | analysi could help design appropri |
| also | exit strategi cope capit inflow | also | imf expand resourc renew lend |
| polici | safeti net therebi facilit pursuit | polici | rebal global demand said remain |
| global | therebi facilit pursuit polici rebal | global | demand said remain done strengthen |
| countri | produc themat report would focus | countri | face share polici concern commod |
| polici | would focus countri face share | polici | concern commod price give emphasi |
| countri | give emphasi multilater surveil system | countri | order access outward spillov rest |
| need | chiang mai initi cmim view | need | three level intern safeti net |
| global | intern safeti net nation region | global | import role play welcom recent |
| also | welcom recent activ cmim could | also | lowincom member region exampl provid |
| need | view make real progress last | need | address longstand grievanc govern discuss |
| need | quota voic reform alreadi start | need | complet januari next year would |
| need | approv reform quota voic agre | need | implement prompt |
| global | cover four broad point start | global | outlook consid outlook associ southeast |
| polici | associ southeast asian nation asean | polici | challeng pose final l turn |
| global | help address challeng brief argu | global | economi may evolv way seen |
| economi | address challeng brief argu global | economi | may evolv way seen polici |
| polici | economi may evolv way seen | polici | challeng may differ seen past |
| global | challeng may differ seen past | global | outlook multispe recoveri recoveri follow |
| global | recoveri follow usual script previous | global | cycl advanc countri took lead |
| countri | script previous global cycl advanc | countri | took lead emerg market follow |
| market | advanc countri took lead emerg | market | follow countri recov less pace |
| countri | took lead emerg market follow | countri | recov less pace time experienc |
| market | differ see multispe recoveri emerg | market | especi asian emerg market lead |
| market | emerg market especi asian emerg | market | lead expect diverg continu time |
| global | lead expect diverg continu time | global | recoveri evolv better expect imf |
| econom | last octob similar januari world | econom | outlook weo updat continu expand |
| growth | rate mask high uneven distribut | growth | advanc economi expect expand  |
| economi | high uneven distribut growth advanc | economi | expect expand  ¼ percent |
| economi | level gdp contrast emerg develop | economi | forecast grow percent emerg asia |
| growth | grow  ½ percent diverg | growth | rate creat new polici challeng |
| polici | diverg growth rate creat new | polici | challeng includ need care calibr |
| need | creat new polici challeng includ | need | care calibr exit polici support |
| polici | includ need care calibr exit | polici | support manag capit inflow rebal |
| economi | support manag capit inflow rebal | economi | toward domest demand although varieti |
| global | domest demand although varieti risk | global | outlook reced downsid risk relat |
| growth | outlook reced downsid risk relat | growth | public debt advanc economi arisen |
| economi | relat growth public debt advanc | economi | arisen near term market concern |
| market | advanc economi arisen near term | market | concern focus sovereign liquid solvenc |
| polici | contagi sovereign debt crisi explor | polici | challeng address under problem advanc |
| economi | challeng address under problem advanc | economi | expect rebound slowli essenti weigh |
| economi | public sector let elabor advanc | economi | recov strong privat spend need |
| need | economi recov strong privat spend | need | acceler sharpli littl prospect happen |
| also | low capac util privat demand | also | remain weak japan although differ |
| market | consumpt held back weak labor | market | low potenti growth reemerg deflat |
| growth | weak labor market low potenti | growth | reemerg deflat ad problem push |
| countri | year high across key advanc | countri | privat demand remain weak meanwhil |
| polici | remain weak meanwhil scope addit | polici | stimulus rapid exhaust interest rate |
| polici | inflat expect like keep monetari | polici | advanc countri stay accommod ampl |
| countri | like keep monetari polici advanc | countri | stay accommod ampl global liquid |
| global | advanc countri stay accommod ampl | global | liquid near term far fiscal |
| econom | term far fiscal area slump | econom | activ much lesser extent stimulus |
| countri | point higher crisi consequ advanc | countri | need emphas fiscal consolid dampen |
| need | higher crisi consequ advanc countri | need | emphas fiscal consolid dampen growth |
| growth | need emphas fiscal consolid dampen | growth | medium term asean outlook risk |
| countri | outlook risk cautious outlook advanc | countri | optimist prospect emerg economi especi |
| economi | advanc countri optimist prospect emerg | economi | especi exportdepend asia sever factor |
| global | first moment emerg asia benefit | global | inventori cycl downturn emerg asia |
| countri | emerg asia export plung advanc | countri | met demand run inventori advanc |
| countri | met demand run inventori advanc | countri | stabil demand met product allow |
| need | asia export recov sinc inventori | need | rebuilt provid power boost export |
| growth | stimulus china succeed restor rapid | growth | spill import provid lift rest |
| economi | lift rest region reason asian | economi | larger exposur china final demand |
| growth | export experienc stronger recoveri gdp | growth | third factor link emerg asia |
| polici | first sinc onset crisi decis | polici | support given forward momentum econom |
| econom | polici support given forward momentum | econom | activ fiscal stimulus larger g |
| countri | indebted manag level consequ advanc | countri | constrain legaci crisi asia balanc |
| economi | asean outlook imf expect asean | economi | grow vigor near  ½ |
| growth | domest demand take main driver | growth | upsw posit outlook even world |
| economi | posit outlook even world advanc | economi | remain sluggish risk thing could |
| countri | posit fragil domest demand advanc | countri | bank major advanc economi still |
| economi | advanc countri bank major advanc | economi | still face signific amount asset |
| growth | capit ahead imf estim credit | growth | return posit territori us euro |
| polici | weaker crisi sever limit room | polici | respond advers shock could stall |
| global | advers shock could stall recoveri | global | repercuss extrem case emerg asia |
| also | extrem case emerg asia could | also | affect renew market turbul sovereign |
| market | asia could also affect renew | market | turbul sovereign credit concern one |
| countri | turbul sovereign credit concern one | countri | transmit back bank system across |
| market | know net equiti flow emerg | market | turn negat late januari year |
| global | turn negat late januari year | global | risk avers increas follow concern |
| global | much smaller six month ago | global | recoveri proceed becom like inventori |
| countri | sustain asean export recoveri advanc | countri | becom entrench domest demand region |
| polici | domest demand region continu expand | polici | challeng key polici challeng emerg |
| polici | continu expand polici challeng key | polici | challeng emerg postcrisi world would |
| polici | judg appropri pace normal macroeconom | polici | risk fals dawn global recoveri |
| global | macroeconom polici risk fals dawn | global | recoveri reced cautious polici normal |
| polici | dawn global recoveri reced cautious | polici | normal may need begin sooner |
| need | reced cautious polici normal may | need | begin sooner earlier anticip inde |
| economi | sooner earlier anticip inde asian | economi | alreadi start rais polici rate |
| polici | asian economi alreadi start rais | polici | rate rein fiscal deficit recoveri |
| economi | rein fiscal deficit recoveri advanc | economi | remain sluggish vulner downsid risk |
| polici | downsid risk includ prematur withdraw | polici | accommod exit polici support need |
| polici | prematur withdraw polici accommod exit | polici | support need gradual pace monetari |
| need | polici accommod exit polici support | need | gradual pace monetari exit would |
| need | gradual pace monetari exit would | need | calibr sever factor countri need |
| countri | would need calibr sever factor | countri | need start sooner move quick |
| need | need calibr sever factor countri | need | start sooner move quick larger |
| polici | move quick larger distanc cover | polici | rate turn neutral inflationari pressur |
| countri | point monetari tighten alreadi start | countri | howev economi privat demand remain |
| economi | tighten alreadi start countri howev | economi | privat demand remain tentat tighten |
| polici | may prematur medium term fiscal | polici | also need move neutral stanc |
| also | prematur medium term fiscal polici | also | need move neutral stanc asean |
| need | medium term fiscal polici also | need | move neutral stanc asean benefit |
| global | fiscal space deal problem aris | global | crisi would critic import restor |
| countri | deal potenti futur shock accord | countri | includ malaysia vietnam alreadi start |
| polici | support would appropri second relat | polici | challeng stem potenti larg capit |
| growth | multispe recoveri creat profound tension | growth | differenti alreadi attract capit inflow |
| market | addit capit could flow emerg | market | begin tighten monetari polici ahead |
| polici | emerg market begin tighten monetari | polici | ahead advanc countri reflect advanc |
| countri | tighten monetari polici ahead advanc | countri | reflect advanc cyclic posit result |
| countri | happen precis strategi would depend | countri | circumst one option strengthen prudenti |
| countri | one option strengthen prudenti framework | countri | includ china india korea singapor |
| polici | currenc loan bank addit fiscal | polici | could tighten exchang rate flexibl |
| countri | therebi help asean decoupl advanc | countri | monetari polici capit outflow could |
| polici | asean decoupl advanc countri monetari | polici | capit outflow could also liber |
| also | monetari polici capit outflow could | also | liber imf staff recent clarifi |
| also | clarifi shortterm capit control could | also | part appropri respons certain circumst |
| economi | appropri respons certain circumst exampl | economi | oper near potenti level reserv |
| growth | promot domest demand durabl engin | growth | sinc uncertain ongo cyclic recoveri |
| market | still small relat size import | market | rebalanc would entail differ measur |
| countri | would entail differ measur differ | countri | mani case develop financi sector |
| need | improv access capit other focus | need | place improv environ privat invest |
| also | greater exchang rate flexibl would | also | help rais household purchas power |
| need | shift labor properti estat tax | need | precautionari save could reduc expand |
| financ | coverag catastroph health event governmentback | financ | tertiari educ help suppli demandsid |
| countri | system word exchang rate adjust | countri | interest one import element solut |
| countri | hard make flexibl use member | countri | allow mention chang intensifi surveil |
| countri | mention chang intensifi surveil system | countri | exampl focus problem advanc countri |
| countri | countri exampl focus problem advanc | countri | financi system highlight writedown recapit |
| need | financi system highlight writedown recapit | need | bank also focus potenti spillov |
| also | highlight writedown recapit need bank | also | focus potenti spillov system countri |
| countri | also focus potenti spillov system | countri | develop earli warn exercis alert |
| countri | develop earli warn exercis alert | countri | potenti problem eman abroad look |
| need | reform quota voic agre april | need | implement prompt intend complet next |
| countri | quota reform improv emerg develop | countri | represent januari time reconsid imf |
| economi | produc themat report would focus | economi | face share polici concern miner |
| polici | would focus economi face share | polici | concern miner oil export aid |
| countri | miner oil export aid depend | countri | countri larg reserv cushion also |
| countri | oil export aid depend countri | countri | larg reserv cushion also consid |
| also | countri countri larg reserv cushion | also | consid give emphasi multilater surveil |
| countri | give emphasi multilater surveil system | countri | one idea produc report assess |
| countri | anoth make fsap mandatori system | countri | adopt new multilater decis elabor |
| global | decis elabor framework imf promot | global | econom financi stabil d like |
| econom | elabor framework imf promot global | econom | financi stabil d like emphas |
| also | view arriv true consensus issu | also | develop region surveil key purpos |
| market | current write paper develop financi | market | asean support region initi area |
| economi | flexibl credit line fcl strongperform | economi | abolish hard structur condit focus |
| need | smooth even region mechan view | need | three level intern safeti net |
| global | intern safeti net nation region | global | import role welcom last month |
| economi | sum asean rebound rapid advanc | economi | remain sluggish dwindl polici space |
| polici | advanc economi remain sluggish dwindl | polici | space multispe recoveri like bring |
| polici | multispe recoveri like bring new | polici | challeng includ need exit gradual |
| need | bring new polici challeng includ | need | exit gradual protect risk need |
| need | need exit gradual protect risk | need | manag capit inflow care need |
| need | need manag capit inflow care | need | rebal imf remain firm commit |
| polici | emerg framework financi regul monetari | polici | today meet result collabor effort |
| market | bis fund institut monetari capit | market | depart sever financi econom crisi |
| econom | capit market depart sever financi | econom | crisi post wwii era wind |
| polici | forum discuss reform propos implic | polici | set impact economi financi system |
| economi | propos implic polici set impact | economi | financi system hope idea generat |
| polici | financi regulatori framework role monetari | polici | preserv financi stabil clear primari |
| market | sourc financi crisi action financi | market | particip mani largest bank financi |
| market | built enorm leverag fund wholesal | market | capit standard less stringent insuffici |
| need | capit risk equal import bank | need | hold suffici liquid asset insur |
| also | risk longer adequ financi institut | also | need robust risk manag system |
| need | longer adequ financi institut also | need | robust risk manag system accompani |
| market | inform requir enhanc transpar strengthen | market | disciplin crisi also demonstr import |
| also | transpar strengthen market disciplin crisi | also | demonstr import regul augment monitor |
| need | macroprudenti element toolkit particular regul | need | better understand exposur interconnected system |
| also | financi institut nonbank financi sector | also | need develop rule counter financi |
| need | institut nonbank financi sector also | need | develop rule counter financi system |
| need | provid still case made clear | need | progress agreement best address problem |
| also | institut take excess risk would | also | ensur financi institut contribut fiscal |
| polici | sector failur therefor address public | polici | concern financi institut abl privat |
| countri | put scrutini role home host | countri | supervisor share cost failur home |
| countri | share cost failur home host | countri | pros con foreign bank oper |
| need | direct prevent supervis alon suffici | need | activ engag interact supervisori colleg |
| need | progress area requir strong polit | need | greater compat crossbord resolut framework |
| polici | coher order reduc risk disjoint | polici | distort capit flow regulatori arbitrag |
| polici | arbitrag let turn role monetari | polici | preserv financi stabil crisi macroeconomist |
| econom | public debt sustain critic element | econom | success inde sinc late substanti |
| economi | substanti declin inflat emerg advanc | economi | inflat rate becam increas stabl |
| countri | increas stabl less dispers across | countri | time general attribut central bank |
| polici | enshrin price stabil overrid monetari | polici | object declin inflat accompani decreas |
| global | object declin inflat accompani decreas | global | macroeconom volatil percept low risk |
| market | risk translat lower volatil financi | market | led mani believ financi stabil |
| financ | stabl price relat healthi public | financ | low financi market volatil mani |
| market | healthi public financ low financi | market | volatil mani tenet precrisi consensus |
| need | fiscal disciplin remain valid other | need | reassess particular crisi rais issu |
| polici | asset price perform explicit goal | polici | achiev context follow point import |
| econom | part inaugur confer institut new | econom | think brought togeth mani thought |
| financ | mani thought peopl academia govern | financ | busi ask mani key question |
| econom | ask mani key question face | econom | profess today global financi crisi |
| global | question face econom profess today | global | financi crisi great recess follow |
| econom | great recess follow inflict tremend | econom | social damag across world thank |
| need | recoveri though remain sluggish uneven | need | continu polici support mani advanc |
| polici | remain sluggish uneven need continu | polici | support mani advanc economi moreov |
| economi | continu polici support mani advanc | economi | moreov cost crisi lost growth |
| growth | economi moreov cost crisi lost | growth | high unemploy sharpli higher public |
| also | take mani year overcom crisi | also | laid bare fundament weak econom |
| econom | also laid bare fundament weak | econom | financi polici framework confid market |
| polici | bare fundament weak econom financi | polici | framework confid market institut status |
| market | econom financi polici framework confid | market | institut status quo turn complac |
| econom | stock lesson recent experi mean | econom | financi polici period ahead imf |
| polici | recent experi mean econom financi | polici | period ahead imf also contribut |
| also | financi polici period ahead imf | also | contribut effort reflect recent public |
| polici | recent public lesson crisi macroeconom | polici | capit control climat polici issu |
| polici | macroeconom polici capit control climat | polici | issu today d like focus |
| need | like focus three topic particular | need | greater coordin monetari polici financi |
| polici | particular need greater coordin monetari | polici | financi regul need fiscal adjust |
| need | coordin monetari polici financi regul | need | fiscal adjust better fiscal stabil |
| polici | better fiscal stabil import intern | polici | cooper also elabor role imf |
| also | stabil import intern polici cooper | also | elabor role imf play support |
| polici | descript precrisi consensus relat monetari | polici | fiscal polici financi regul first |
| polici | consensus relat monetari polici fiscal | polici | financi regul first monetari polici |
| polici | polici financi regul first monetari | polici | low stabl inflat consid primari |
| polici | model held constant inflat optim | polici | choic keep econom growth potenti |
| econom | inflat optim polici choic keep | econom | growth potenti rate keep inflat |
| growth | optim polici choic keep econom | growth | potenti rate keep inflat low |
| econom | stabl best way secur optim | econom | perform second fiscal polici decad |
| polici | optim econom perform second fiscal | polici | decad preced crisi fiscal polici |
| polici | polici decad preced crisi fiscal | polici | taken back seat monetari polici |
| polici | polici taken back seat monetari | polici | various reason skeptic effect fiscal |
| polici | various reason skeptic effect fiscal | polici | base larg ricardian equival argument |
| polici | polit influenc design implement fiscal | polici | need stabil reduc typic high |
| need | influenc design implement fiscal polici | need | stabil reduc typic high debt |
| polici | stabil consid suffici allow fiscal | polici | respond chang econom cycl third |
| econom | allow fiscal polici respond chang | econom | cycl third financi regul supervis |
| market | supervis focus sound individu institut | market | aim correct market failur stem |
| market | individu institut market aim correct | market | failur stem asymmetr inform limit |
| market | consid improp interfer function credit | market | quarter centuri macroeconom framework seem |
| polici | us believ knew conduct macroeconom | polici | addit success respons stock market |
| market | polici addit success respons stock | market | crash ltcm collaps burst tech |
| polici | tech bubbl reinforc view monetari | polici | also well equip deal asset |
| also | bubbl reinforc view monetari polici | also | well equip deal asset price |
| polici | mid unreason think better macroeconom | polici | could deliv deliv higher econom |
| econom | polici could deliv deliv higher | econom | stabil admit view close held |
| polici | consensus play import role shape | polici | institut success moder fluctuat may |
| financ | small output gap healthi public | financ | also learn financi regul major |
| also | output gap healthi public financ | also | learn financi regul major macroeconom |
| global | u hous bubbl turn major | global | crisi crisi start rule aim |
| need | disciplin remain valid other may | need | reconsid crisi also demonstr macroeconom |
| also | other may need reconsid crisi | also | demonstr macroeconom polici must mani |
| polici | reconsid crisi also demonstr macroeconom | polici | must mani target fortun crisi |
| also | must mani target fortun crisi | also | remind us mani instrument reach |
| also | mani instrument reach target crisi | also | highlight critic role intern polici |
| polici | also highlight critic role intern | polici | cooper crisi unpreced cooper allow |
| need | great depress postcrisi period cooper | need | even creat polici framework support |
| polici | period cooper need even creat | polici | framework support strong stabl econom |
| econom | polici framework support strong stabl | econom | growth greater coordin monetari polici |
| growth | framework support strong stabl econom | growth | greater coordin monetari polici financi |
| polici | econom growth greater coordin monetari | polici | financi regulationwhat lesson monetari polici |
| polici | polici financi regulationwhat lesson monetari | polici | even crisi live debat whether |
| polici | like wrong way approach problem | polici | rate poor tool deal excess |
| polici | deviat asset price fundament rais | polici | rate also impact econom growth |
| also | price fundament rais polici rate | also | impact econom growth thank policymak |
| econom | rais polici rate also impact | econom | growth thank policymak instrument dispos |
| growth | polici rate also impact econom | growth | thank policymak instrument dispos call |
| also | signific challeng identifi incipi risk | also | handl crisi situat need think |
| need | risk also handl crisi situat | need | think exampl northern rock understand |
| polici | exampl northern rock understand import | polici | question also remind critic role |
| also | rock understand import polici question | also | remind critic role play central |
| market | institut interven broad rang asset | market | essenti reestablish market liquid liquid |
| market | rang asset market essenti reestablish | market | liquid liquid provis could also |
| also | market liquid liquid provis could | also | play help role normal time |
| market | role normal time stabil financi | market | face liquid pressur increas financi |
| need | increas financi safeti net would | need | go hand hand expans regulatori |
| polici | address one final point monetari | polici | name whether target higher inflat |
| polici | serious discuss princip question monetari | polici | distract us import concern let |
| also | distract us import concern let | also | clear remain institut believ low |
| growth | stabl inflat deliv posit benefit | growth | macroeconom stabil remain imf key |
| econom | inflationari shock first subject care | econom | research second howev would mean |
| polici | fiscal policylet turn lesson fiscal | polici | crisi place countercycl fiscal polici |
| polici | polici crisi place countercycl fiscal | polici | back center stage monetari polici |
| polici | polici back center stage monetari | polici | reach limit fiscal respons essenti |
| global | pivot role earli call sizeabl | global | fiscal stimulus key lesson crisi |
| economi | adjust formid public debt advanc | economi | forecast rise percentag point averag |
| need | reduc debt precrisi level may | need | leav enough fiscal space tackl |
| financ | use reduc public debt rather | financ | expenditur increas tax cut cours |
| also | fiscal data help regard crisi | also | remind us discretionari fiscal measur |
| growth | valu particular macroeconom variabl gdp | growth | cross exampl support spend lowincom |
| polici | target lowincom liquidityconstrain household intern | polici | cooperationlet turn third key lesson |
| polici | crisi name critic import intern | polici | cooper crisi unfold quick becam |
| polici | depress would avert rapid concert | polici | action thank policymak around world |
| econom | world pull togeth respond profound | econom | potenti human calam took rang |
| also | cooper crossbord financi problem imf | also | contribut intern crisi respons ramp |
| polici | unpreced level postcrisi era intern | polici | cooper even import secur stabl |
| econom | import secur stabl strong balanc | econom | growth recent spoke context europ |
| growth | secur stabl strong balanc econom | growth | recent spoke context europ broader |
| polici | spoke context europ broader framework | polici | cooper encompass monetari fiscal financi |
| need | monetari fiscal financi structur issu | need | bolster econom growth someth similar |
| econom | financi structur issu need bolster | econom | growth someth similar also need |
| growth | structur issu need bolster econom | growth | someth similar also need global |
| also | bolster econom growth someth similar | also | need global scale secur growth |
| need | econom growth someth similar also | need | global scale secur growth balanc |
| global | growth someth similar also need | global | scale secur growth balanc henc |
| growth | also need global scale secur | growth | balanc henc sustain year lead |
| countri | year lead crisi signific imbal | countri | current account posit pose signific |
| polici | sinc crisi like widen unless | polici | adopt support emerg new sourc |
| growth | adopt support emerg new sourc | growth | g mutual assess process import |
| economi | address issu framework world largest | economi | account highest polit level global |
| global | economi account highest polit level | global | consist budget monetari structur polici |
| polici | global consist budget monetari structur | polici | imf lend analyt support import |
| also | later month greater intern cooper | also | need secur serious last reform |
| need | month greater intern cooper also | need | secur serious last reform financi |
| countri | serious last reform financi sector | countri | level prioriti reform wellknown includ |
| countri | improv liquid manag buffer mani | countri | approach bigpictur reform differ direct |
| polici | speed present great risk uncoordin | polici | distort capit flow regulatori arbitrag |
| global | larg complex financi institut domin | global | financ recent propos special resolut |
| financ | complex financi institut domin global | financ | recent propos special resolut author |
| also | creation european resolut author solut | also | need much broader intern scale |
| need | european resolut author solut also | need | much broader intern scale question |
| countri | prevent emerg major inconsist across | countri | g ask imf see financi |
| also | concern system risk burden share | also | aim take account busi activ |
| need | point d like make relat | need | better crisi financ instrument someth |
| financ | make relat need better crisi | financ | instrument someth imf uniqu place |
| countri | extraordinarili larg demand offici resourc | countri | address homegrown balanc payment problem |
| global | balanc payment problem other deal | global | liquid shortag crisi introduc flexibl |
| financ | flexibl credit line fcl conting | financ | instrument countri solid polici track |
| countri | line fcl conting financ instrument | countri | solid polici track record number |
| polici | conting financ instrument countri solid | polici | track record number major emerg |
| market | track record number major emerg | market | economi use fcl fact mexico |
| economi | record number major emerg market | economi | use fcl fact mexico renew |
| market | renew benefit stabil influenc financi | market | assess whether fcl financ instrument |
| financ | financi market assess whether fcl | financ | instrument could refin meet need |
| need | financ instrument could refin meet | need | member effect draw lesson financi |
| global | power unleash cost crise second | global | economi becom ever interconnect role |
| economi | unleash cost crise second global | economi | becom ever interconnect role intern |
| polici | becom ever interconnect role intern | polici | cooper prevent crise tackl occur |
| global | foster cooper amongst nation interest | global | econom stabil prosper ultim peac |
| econom | cooper amongst nation interest global | econom | stabil prosper ultim peac vein |
| econom | hall mind probabl focus primarili | econom | theori earli stage career great |
| polici | war ii influenc much specif | polici | idea still lay ahead yet |
| econom | ahead yet keyn belief potenti | econom | polici power improv peopl live |
| polici | yet keyn belief potenti econom | polici | power improv peopl live sure |
| global | belief work togeth new spirit | global | cooper foster econom growth strong |
| econom | new spirit global cooper foster | econom | growth strong stabl sustain need |
| growth | spirit global cooper foster econom | growth | strong stabl sustain need secur |
| need | econom growth strong stabl sustain | need | secur wellb must strive thank |
| market | rang european experi transit plan | market | economi join european union tackl |
| economi | european experi transit plan market | economi | join european union tackl financi |
| also | tackl financi crisi poland experi | also | show sound polici strong polit |
| polici | poland experi also show sound | polici | strong polit leadership deliv econom |
| econom | polici strong polit leadership deliv | econom | success pioneer reform excommunist europ |
| economi | reform action laid groundwork vibrant | economi | poland today recent financi crisi |
| economi | emerg relat unscath inde poland | economi | eu regist posit econom growth |
| econom | poland economi eu regist posit | econom | growth commend govern peopl poland |
| growth | economi eu regist posit econom | growth | commend govern peopl poland achiev |
| econom | unleash two decad remark social | econom | progress across europ deliv democraci |
| growth | better abl promot balanc sustain | growth | weak must repair inde see |
| need | histor opportun creat european institut | need | deliv success mani decad come |
| countri | challeng context began associ six | countri | european coal steel communiti grown |
| econom | european coal steel communiti grown | econom | union countri three addit countri |
| countri | steel communiti grown econom union | countri | three addit countri candid integr |
| countri | econom union countri three addit | countri | candid integr europ good capit |
| market | integr europ good capit labor | market | brought tremend benefit member economi |
| economi | market brought tremend benefit member | economi | new member state particular enjoy |
| econom | europ pain earli year transit | econom | growth took trade flourish stabl |
| growth | pain earli year transit econom | growth | took trade flourish stabl institut |
| econom | stabl institut took root grow | econom | financi tie western europ acceler |
| also | qualiti peopl live cours integr | also | came polici challeng economi emerg |
| polici | live cours integr also came | polici | challeng economi emerg europ also |
| economi | integr also came polici challeng | economi | emerg europ also western europ |
| also | polici challeng economi emerg europ | also | western europ easi access inexpens |
| global | lead unsustain current account deficit | global | financi crisi hit mani economi |
| economi | global financi crisi hit mani | economi | found terribl expos foreign capit |
| econom | new member state thus support | econom | growth countri outsid eurozon face |
| growth | member state thus support econom | growth | countri outsid eurozon face extern |
| countri | state thus support econom growth | countri | outsid eurozon face extern financ |
| financ | countri outsid eurozon face extern | financ | difficulti could make use eu |
| countri | maintain exposur number emerg european | countri | cours matter europ economi fare |
| economi | european countri cours matter europ | economi | fare crisi domest factor includ |
| polici | includ macroeconom fundament financi sector | polici | polit relat emerg europ tackl |
| economi | europ grim troubl affect baltic | economi | look set hit former transit |
| economi | look set hit former transit | economi | possibl even eu thank nightmar |
| economi | nightmar never came pass instead | economi | region though hit hard crisi |
| countri | natur given tremend divers region | countri | emerg europ experienc crisi differ |
| countri | sever downturn made differ term | countri | respons crisi qualiti econom polici |
| econom | term countri respons crisi qualiti | econom | polici institut regard poland stand |
| polici | countri respons crisi qualiti econom | polici | institut regard poland stand thank |
| econom | regard poland stand thank strong | econom | institut commend polici manag poland |
| polici | thank strong econom institut commend | polici | manag poland avoid excess seen |
| countri | poland avoid excess seen mani | countri | recent year suffici fiscal space |
| growth | temporari stimulus measur impact crisi | growth | lessen inde largest economi region |
| economi | crisi growth lessen inde largest | economi | region poland lead econom recoveri |
| econom | largest economi region poland lead | econom | recoveri overal lesson clear good |
| polici | recoveri overal lesson clear good | polici | strong institut matter d also |
| also | polici strong institut matter d | also | like highlight anoth key featur |
| polici | emerg europ leader take tough | polici | decis shi away take deepli |
| economi | unpopular measur knew necessari save | economi | build europ st centurylet touch |
| need | europ postcrisi era first europ | need | fundament overhaul financi architectur alreadi |
| need | said brussel recent see clear | need | integr european framework crisi prevent |
| also | polit leadership come fruition europ | also | strengthen econom polici coordin current |
| econom | come fruition europ also strengthen | econom | polici coordin current major polici |
| polici | fruition europ also strengthen econom | polici | coordin current major polici framework |
| polici | econom polici coordin current major | polici | framework europ macroeconom financi structur |
| econom | europ singl currenc without enough | econom | polici coordin may lead huge |
| polici | singl currenc without enough econom | polici | coordin may lead huge imbal |
| growth | prioriti europ perhap urgent reignit | growth | tackl unemploy must retain clear |
| countri | must retain clear focus european | countri | must work togeth sustain econom |
| econom | countri must work togeth sustain | econom | recoveri prioriti short run macroeconom |
| polici | prioriti short run macroeconom financi | polici | gear toward support growth facilit |
| growth | financi polici gear toward support | growth | facilit necessari adjust countri larg |
| countri | support growth facilit necessari adjust | countri | larg fiscal current account imbal |
| polici | implement strategi exit crisisrel intervent | polici | soon possibl said polici action |
| polici | intervent polici soon possibl said | polici | action would undermin aggreg demand |
| growth | aggreg demand postpon implement sustain | growth | longer run competit must increas |
| market | reform tackl rigid labor product | market | set lisbon agenda acceler fact |
| market | agenda acceler fact effect labor | market | allow mani emerg european economi |
| economi | market allow mani emerg european | economi | recov rapid crisi provid boost |
| economi | program provid roadmap engag transit | economi | addit financi support polici advic |
| polici | transit economi addit financi support | polici | advic imf provid extens technic |
| economi | supervis advic help emerg european | economi | prepar membership european union recent |
| economi | imf lent financi support region | economi | face financ problem crisi total |
| financ | financi support region economi face | financ | problem crisi total provid billion |
| financ | provid billion support wake crisi | financ | come condit necessari ensur caus |
| countri | stress imf provid framework program | countri | author decid specif measur addit |
| polici | flexibl credit line member strong | polici | track record poland access billion |
| also | line imf one exampl imf | also | partner effect european union crisi |
| countri | joint provid balanc payment support | countri | region see reflect common interest |
| financ | interest templat better coordin region | financ | mechan futur conclus power share |
| need | motiv nobl goal creat institut | need | secur last peac contin robert |
| also | war guarante etern peac imf | also | born defin moment histori purpos |
| global | world spirit solidar mandat safeguard | global | financi stabil thus secur peac |
| econom | secur peac prosper found fight | econom | root war share power legaci |
| econom | european union europ recov major | econom | crisi time recommit integr cooper |
| econom | mean strengthen institut mean fortifi | econom | foundat union mean extend benefit |
| growth | opportun address import topic boost | growth | reduc poverti among asia develop |
| economi | reduc poverti among asia develop | economi | know world dynam region yet |
| global | challeng among topic asia crisisth | global | econom financi crisi dramat effect |
| econom | among topic asia crisisth global | econom | financi crisi dramat effect global |
| global | econom financi crisi dramat effect | global | economi reduc global output percent |
| economi | financi crisi dramat effect global | economi | reduc global output percent respons |
| global | dramat effect global economi reduc | global | output percent respons overcom setback |
| also | output percent respons overcom setback | also | learn lesson experi teach us |
| countri | live integr world action one | countri | one sector one market reverber |
| market | one countri one sector one | market | reverber quick around world lesson |
| also | reverber quick around world lesson | also | hold journey back normalci thank |
| polici | back normalci thank aggress anticrisi | polici | action deliv unpreced demonstr global |
| global | polici action deliv unpreced demonstr | global | cooper global growth expect bounc |
| global | deliv unpreced demonstr global cooper | global | growth expect bounc back percent |
| growth | unpreced demonstr global cooper global | growth | expect bounc back percent around |
| global | help lead way toward stronger | global | growth region suffer sharp drop |
| growth | lead way toward stronger global | growth | region suffer sharp drop intern |
| financ | suffer sharp drop intern trade | financ | flow late earli region benefit |
| global | late earli region benefit emerg | global | recoveri exampl net portfolio capit |
| polici | region rapid forc comprehens anticrisi | polici | respons respons facilit strong precrisi |
| polici | region fiscal posit sounder monetari | polici | credibl corpor bank balanc sheet |
| polici | stimulus packag without creat danger | polici | excess overal emerg asia expect |
| countri | capit good export asia develop | countri | happili news score good general |
| countri | happili news score good general | countri | weather crisi well economi slow |
| economi | general countri weather crisi well | economi | slow less emerg asia part |
| global | asia part reflect limit integr | global | economi export advanc economi held |
| economi | part reflect limit integr global | economi | export advanc economi held better |
| economi | integr global economi export advanc | economi | held better reli less highvalu |
| also | manufactur export textil lowend manufactur | also | depend much privat capit flow |
| polici | capit flow time countercycl macroeconom | polici | play role support activ countri |
| countri | polici play role support activ | countri | cambodia sri lanka vietnam loosen |
| polici | sri lanka vietnam loosen monetari | polici | chose fiscal stimulus includ bangladesh |
| countri | citizen remain poor vulner develop | countri | even small econom disloc provok |
| econom | vulner develop countri even small | econom | disloc provok substanti challeng job |
| economi | worsen true well mani emerg | economi | incom dispar larg still sizeabl |
| countri | forwardat fundament level asia develop | countri | qualit differ counterpart region live |
| countri | promin continuum lie somewher lowincom | countri | emerg market like call verg |
| market | lie somewher lowincom countri emerg | market | like call verg emerg market |
| market | market like call verg emerg | market | countri increas becom integr vibrant |
| countri | like call verg emerg market | countri | increas becom integr vibrant region |
| growth | asia increas time emerg asia | growth | driven trade intermedi good reflect |
| economi | lead export platform asia develop | economi | well pois step product nexus |
| market | path taken today dynam emerg | market | see reason region verg emerg |
| economi | see reason region verg emerg | economi | follow footstep cours asian economi |
| economi | economi follow footstep cours asian | economi | make leap address key polici |
| polici | economi make leap address key | polici | challeng first sound growth must |
| growth | key polici challeng first sound | growth | must built foundat macroeconom stabil |
| countri | good perform regard threat remain | countri | fiscal deficit public debt larg |
| growth | deficit public debt larg credit | growth | inflat high intern reserv low |
| polici | recoveri take root import rebuild | polici | buffer improv financi sector sound |
| global | facilit develop asia entri region | global | trade network needless say open |
| market | trade remain essenti strengthen financi | market | would ensur better alloc capit |
| growth | household incom third boost longterm | growth | requir invest infrastructur still larg |
| countri | asian develop bank estim asiapacif | countri | need invest trillion next decad |
| need | develop bank estim asiapacif countri | need | invest trillion next decad invest |
| also | would boost product potenti would | also | help fight poverti includ rural |
| countri | poverti includ rural area fourth | countri | need strengthen social safeti net |
| need | includ rural area fourth countri | need | strengthen social safeti net asian |
| countri | strengthen social safeti net asian | countri | abl cushion impact vulner citizen |
| countri | fiscal space vari wide across | countri | done across board protect poor |
| polici | includ health care beyond sound | polici | develop countri requir sustain access |
| countri | care beyond sound polici develop | countri | requir sustain access financi resourc |
| need | sustain access financi resourc support | need | develop spend also address vulner |
| also | resourc support need develop spend | also | address vulner develop countri econom |
| countri | spend also address vulner develop | countri | econom shock varieti sourc includ |
| econom | also address vulner develop countri | econom | shock varieti sourc includ commod |
| global | gdp year end centuri twice | global | averag loss clear region must |
| global | mitig adapt effect climat chang | global | challeng requir collect approach imf |
| need | call intern communiti marshal resourc | need | help develop countri overcom challeng |
| countri | marshal resourc need help develop | countri | overcom challeng climat chang copenhagen |
| need | copenhagen accord suggest billion year | need | exist aid commit imf staff |
| countri | easi requir subsidi resourc develop | countri | perhap carbon tax expand carbon |
| countri | imfth imf proactiv help develop | countri | cope recent crisi look enhanc |
| global | crisi look enhanc abil support | global | growth stabil one thing fund |
| growth | look enhanc abil support global | growth | stabil one thing fund financ |
| financ | growth stabil one thing fund | financ | facil modern better meet vari |
| need | facil modern better meet vari | need | lowincom member face shock macroeconom |
| growth | shock macroeconom volatil seek acceler | growth | reduc poverti done start doubl |
| countri | doubl total resourc avail lowincom | countri | billion commit billion concession resourc |
| countri | commit billion concession resourc lowincom | countri | billion million moreov term lend |
| also | interest rate concession imf membership | also | support billion increas special draw |
| countri | reserv asset tap demand lowincom | countri | meant addit billion resourc use |
| financ | shore reserv reserv adequ relax | financ | constraint also revamp financi toolkit |
| also | reserv adequ relax financ constraint | also | revamp financi toolkit tailor lend |
| need | revamp financi toolkit tailor lend | need | increas divers group develop countri |
| countri | need increas divers group develop | countri | especi asian context know develop |
| countri | especi asian context know develop | countri | alik challeng face chang move |
| need | thus provid differ facil differ | need | extend credit facil ecf provid |
| countri | provid flexibl mediumterm support design | countri | protract balanc payment problem requir |
| need | facil scf design shortterm precautionari | need | carri concession term facil suitabl |
| countri | carri concession term facil suitabl | countri | sustain macroeconom posit face shortterm |
| financ | sustain macroeconom posit face shortterm | financ | need final new rapid credit |
| need | macroeconom posit face shortterm financ | need | final new rapid credit facil |
| also | use deal shock varieti sourcesw | also | move toward less intrus condit |
| polici | less intrus condit focus core | polici | measur critic stabil growth poverti |
| growth | core polici measur critic stabil | growth | poverti reduct loan longer includ |
| countri | instead provid greater flexibl member | countri | regard meet structur goal recent |
| polici | program flexibl support domest countercycl | polici | food fuel price crisi revis |
| global | accommod sharpli rise price recent | global | downturn program accommod higher budget |
| also | accommod higher budget deficit appropri | also | work member ensur fundsupport program |
| countri | initi reflect divers natur develop | countri | also adopt flexibl approach debt |
| also | reflect divers natur develop countri | also | adopt flexibl approach debt fundsupport |
| countri | flexibl approach debt fundsupport program | countri | lower debt vulner demonstr capac |
| countri | sourc includ nonconcession one help | countri | address critic infrastructur deficit preserv |
| countri | crisi brought home clear spillov | countri | intersect macroeconom financi stabil critic |
| also | reduc vulner avoid crise imf | also | provid extens technic assist develop |
| countri | provid extens technic assist develop | countri | activ may high visibl extrem |
| growth | visibl extrem import secur robust | growth | poverti reduct mani countri need |
| countri | robust growth poverti reduct mani | countri | need strengthen institut build capac |
| need | growth poverti reduct mani countri | need | strengthen institut build capac imf |
| also | throughout world includ one fiji | also | oper sever highlyrespect region train |
| market | quota shift toward dynam emerg | market | develop countri agre januari doubt |
| countri | toward dynam emerg market develop | countri | agre januari doubt process reflect |
| economi | reflect enhanc import asia dynam | economi | conclusionasia bright futur region develop |
| countri | conclusionasia bright futur region develop | countri | central particip beneficiari tap asia |
| global | prepar deliverythank invit pleasur awar | global | crisi inflict major toll output |
| econom | increas hope sign indic sustain | econom | recoveri begun led vibrant activ |
| economi | led vibrant activ emerg develop | economi | latest world econom outlook weo |
| econom | emerg develop economi latest world | econom | outlook weo project point global |
| global | econom outlook weo project point | global | growth around percent year somewhat |
| growth | outlook weo project point global | growth | around percent year somewhat faster |
| countri | recoveri reflect support role play | countri | expansionari fiscal monetari polici remark |
| polici | play countri expansionari fiscal monetari | polici | remark today focus three key |
| polici | today focus three key fiscal | polici | challeng need face crisi reced |
| need | three key fiscal polici challeng | need | face crisi reced first ensur |
| economi | level challeng particular acut advanc | economi | third global rebalanc save pattern |
| global | particular acut advanc economi third | global | rebalanc save pattern need make |
| need | third global rebalanc save pattern | need | make recoveri sustain begin address |
| polici | sustain begin address role fiscal | polici | crisi first automat stabil allow |
| countri | stabil allow oper fulli almost | countri | revenu expenditur side mark differ |
| also | downturn activ second discretionari action | also | support aggreg demand far back |
| countri | emphas discretionari stimulus measur appropri | countri | possess requir room maneuv event |
| global | discretionari stimulus provid welcom boost | global | demand year time estim four |
| econom | hold know well much forc | econom | growth rebound come asia recoveri |
| growth | know well much forc econom | growth | rebound come asia recoveri occur |
| global | stimulus propel region recoveri contribut | global | turnaround recoveri welcom crisi also |
| also | global turnaround recoveri welcom crisi | also | leav deep scar fiscal balanc |
| economi | scar fiscal balanc particular advanc | economi | project gross general govern debt |
| economi | gross general govern debt advanc | economi | rise averag percent gdp end |
| countri | next year inde expect g | countri | except canada germani debttogdp ratio |
| economi | alreadi averag debttogdp ratio advanc | economi | project reach level prevail aftermath |
| market | spend build situat favor emerg | market | economi averag debt ratio emerg |
| economi | build situat favor emerg market | economi | averag debt ratio emerg economi |
| economi | economi averag debt ratio emerg | economi | expect declin next year rise |
| economi | tighten alreadi announc sever emerg | economi | implement plan econom recoveri continu |
| econom | sever emerg economi implement plan | econom | recoveri continu even govern debt |
| market | even govern debt ratio emerg | market | countri reach worrisom level note |
| countri | govern debt ratio emerg market | countri | reach worrisom level note earlier |
| economi | project govern debt increas advanc | economi | part due discretionari fiscal stimulus |
| econom | fiscal sustain could undermin confid | econom | recoveri alreadi sever countri particular |
| countri | confid econom recoveri alreadi sever | countri | particular high debt deficit sovereign |
| countri | premia risen sharpli impos strain | countri | affect rais risk possibl broader |
| growth | high real interest rate slower | growth | estim maintain public debt postcrisi |
| growth | postcrisi level could reduc potenti | growth | advanc economi much  ½ |
| economi | could reduc potenti growth advanc | economi | much  ½ percentag point |
| need | point annual compar precrisi perform | need | fiscal adjust achiev inflat clear |
| econom | acceler inflat would impos major | econom | cost creat signific risk sustain |
| growth | sustain expans contrast robust sustain | growth | combin appropri spend control make |
| market | growthenhanc reform liber good labor | market | remov tax distort therefor pursu |
| growth | therefor pursu vigor link reform | growth | subject lag uncertainti result ensur |
| economi | general govern debt ratio advanc | economi | back precrisi averag percent would |
| polici | ratio postcrisi level requir new | polici | action unwind discretionari anticrisi stimulus |
| polici | tax revenu possibl implement tax | polici | tax administr measur appropri time |
| economi | pace recoveri fiscal posit advanc | economi | includ sever largest maintain fiscal |
| countri | project pace fact action undertaken | countri | need fiscal adjust first policymak |
| need | pace fact action undertaken countri | need | fiscal adjust first policymak make |
| polici | make clear citizen return prudent | polici | necessari condit sustain econom health |
| econom | prudent polici necessari condit sustain | econom | health second strengthen fiscal institut |
| polici | institut help steadi cours fiscal | polici | withstand adjust fatigu provid predict |
| countri | aggreg demand tailor action individu | countri | circumst repres import consider china |
| growth | year seek rein rapid loan | growth | addit structur public spend shift |
| also | toward action improv human capit | also | boost consumpt includ structur improv |
| also | health social secur increas product | also | direct support consumpt lessen perceiv |
| need | direct support consumpt lessen perceiv | need | precautionari save instanc recent imf |
| also | household consumpt one percent gdp | also | may case reexamin structur taxat |
| polici | properti capit gain tax fiscal | polici | also role play global rebalanc |
| also | capit gain tax fiscal polici | also | role play global rebalanc perspect |
| global | fiscal polici also role play | global | rebalanc perspect fiscal consolid appropri |
| market | reduc current account deficit emerg | market | current account surplus expand social |
| countri | high current forecast oil export | countri | room increas domest demand boost |
| growth | goal reach fiscal sustain restor | growth | underscor import growthenhanc reform includ |
| need | tax burden labor fiscal adjust | need | focus exampl better target social |
| countri | reduc exempt indirect tax general | countri | share interest foster sustain growth |
| growth | countri share interest foster sustain | growth | keep fiscal hous order reduc |
| polici | pittsburgh summit leader pledg adopt | polici | aim strong sustain balanc growth |
| growth | polici aim strong sustain balanc | growth | moreov agre implement innov mutual |
| economi | summit plan year sum world | economi | make notabl progress path great |
| also | progress path great recess howev | also | true continu face major challeng |
| econom | today confer potenti shape financi | econom | futur eu eu proceed bold |
| econom | bold area would one import | econom | polici initi sinc maastricht treati |
| polici | area would one import econom | polici | initi sinc maastricht treati kind |
| need | bank system europ convinc eu | need | integr bank system turn requir |
| need | project yet grow crisi europ | need | financ viabl busi new opportun |
| financ | yet grow crisi europ need | financ | viabl busi new opportun healthi |
| market | healthi financi institut integr financi | market | offer best assur continu access |
| financ | assur continu access varieti sourc | financ | regardless local circumst system requir |
| economi | requir bank abl compet realiz | economi | scale across eu choos freeli |
| countri | prudenti framework name principl home | countri | control problem home countri control |
| countri | home countri control problem home | countri | control mani especi control match |
| countri | side exacerb toobigtosav problem home | countri | control also often result ineffect |
| also | toobigtosav problem home countri control | also | often result ineffect oversight crossbord |
| countri | oversight crossbord oper crisi mani | countri | central eastern europ larg foreign |
| economi | abil deal buildup system risk | economi | yet also posit stori told |
| also | buildup system risk economi yet | also | posit stori told countri estonia |
| countri | yet also posit stori told | countri | estonia hungari latvia crisi induc |
| need | maintain credit line region europ | need | build experi establish system close |
| market | automat featur underpin singl financi | market | need financi stabil framework make |
| need | featur underpin singl financi market | need | financi stabil framework make countri |
| countri | need financi stabil framework make | countri | feel secur knowledg risk financi |
| need | view influenc decis affect element | need | eu bank stabil framework one |
| need | safe bank system lie bank | need | exercis sound judgment avoid excess |
| need | run selfdisciplin enough prevent system | need | ensur bank inde behav respons |
| need | ensur bank inde behav respons | need | good regul supervis europ take |
| need | de larosià ¨ r group | need | time compromis propos council amend |
| also | framework order framework work eu | also | need new supervisori cultur various |
| need | order framework work eu also | need | new supervisori cultur various respect |
| need | cultur various respect first supervisor | need | adopt european rather nation mindset |
| need | adopt european rather nation mindset | need | worri less neighborhood hous second |
| need | fall bank supervisor third supervisor | need | abl deal financi institut posit |
| need | earli henc new supervisori system | need | mean detect problem earli notabl |
| also | automat share data qualit inform | also | need strong tool interven earli |
| need | share data qualit inform also | need | strong tool interven earli stage |
| need | even best fire prevent system | need | fire brigad let challeng much |
| need | failur difficult handl effect cost | need | ireland face fiscal crisi part |
| countri | along nation line taxpay mani | countri | pay price crisi manag resolut |
| need | insuffici protect interest concret think | need | european resolut author arm mandat |
| economi | sens minim contagion collater damag | economi | loss depositor cost govern budget |
| need | relev financi institut robust system | need | access financ fiscal backup mechan |
| financ | institut robust system need access | financ | fiscal backup mechan net resolut |
| need | system financi stabil framework restor | need | reassur lesson crisi learn appli |
| need | continu busi usual suffici europ | need | fundament overhaul financi stabil architectur |
| need | import take us half way | need | match integr eu crisi manag |
| need | crisi manag resolut framework politician | need | rise challeng need give mani |
| need | framework politician need rise challeng | need | give mani abl technocrat room |
| global | today would like discuss state | global | recoveri prioriti modern global financi |
| global | state global recoveri prioriti modern | global | financi architectur support longterm growth |
| growth | global financi architectur support longterm | growth | find critic moment histori devast |
| also | cost peopl around world crisi | also | deepli humbl experi reveal serious |
| econom | humbl experi reveal serious weak | econom | financi institut europ crisi even |
| growth | crisi henc better abl promot | growth | prosper question whether intern level |
| market | make histor opportun fear financi | market | bounc back econom growth resum |
| econom | fear financi market bounc back | econom | growth resum determin make last |
| growth | financi market bounc back econom | growth | resum determin make last chang |
| polici | like focus today import intern | polici | cooper achiev last chang work |
| growth | togeth lay groundwork stronger stabl | growth | ultim greater prosper nation world |
| global | ultim greater prosper nation world | global | econom recoveri let begin prospect |
| econom | greater prosper nation world global | econom | recoveri let begin prospect global |
| global | econom recoveri let begin prospect | global | econom recoveri polici need keep |
| econom | recoveri let begin prospect global | econom | recoveri polici need keep falter |
| polici | begin prospect global econom recoveri | polici | need keep falter recoveri shape |
| need | prospect global econom recoveri polici | need | keep falter recoveri shape better |
| global | recoveri shape better expect forecast | global | growth percent year clear multispe |
| growth | shape better expect forecast global | growth | percent year clear multispe recoveri |
| growth | percent year clear multispe recoveri | growth | vari signific across globe advanc |
| economi | vari signific across globe advanc | economi | recoveri still rather tepid remain |
| polici | still rather tepid remain depend | polici | support eu forecast growth percent |
| growth | depend polici support eu forecast | growth | percent year contrast emerg economi |
| economi | growth percent year contrast emerg | economi | alreadi recov robust crisi privat |
| growth | privat demand good shape carri | growth | forward financi crisi wind polici |
| polici | growth forward financi crisi wind | polici | prioriti mani countri critic task |
| countri | crisi wind polici prioriti mani | countri | critic task next sever year |
| growth | level avoid burden interest rate | growth | steal room maneuv event futur |
| economi | event futur shock hard advanc | economi | public debt set rise averag |
| need | gdp percentag point higher crisi | need | strategi restor fiscal sustain jeopard |
| econom | strategi restor fiscal sustain jeopard | econom | recoveri withdraw support soon key |
| growth | reform health pension entitl contain | growth | primari spend also essenti need |
| also | entitl contain growth primari spend | also | essenti need increas revenu time |
| need | growth primari spend also essenti | need | increas revenu time howev policymak |
| global | one key achiev better balanc | global | demand new insight recal imf |
| global | imf long call action reduc | global | imbal wake crisi leader g |
| growth | g identifi high prioriti make | growth | sustain year lead crisi u |
| economi | sustain year lead crisi u | economi | spend beyond mean main driver |
| econom | spend beyond mean main driver | econom | growth made entir global economi |
| growth | beyond mean main driver econom | growth | made entir global economi heavili |
| global | driver econom growth made entir | global | economi heavili depend countri thus |
| economi | econom growth made entir global | economi | heavili depend countri thus left |
| countri | entir global economi heavili depend | countri | thus left vulner downturn economi |
| economi | countri thus left vulner downturn | economi | rebalanc mean countri level specif |
| countri | vulner downturn economi rebalanc mean | countri | level specif chang cours vari |
| countri | level specif chang cours vari | countri | countri one thing common need |
| countri | specif chang cours vari countri | countri | one thing common need identifi |
| need | countri countri one thing common | need | identifi new sourc growth economi |
| growth | common need identifi new sourc | growth | economi run persist current account |
| economi | need identifi new sourc growth | economi | run persist current account deficit |
| also | persist current account deficit u | also | sever european countri domest save |
| countri | deficit u also sever european | countri | domest save must increas support |
| need | must increas support demand export | need | contribut growth economi persist current |
| growth | support demand export need contribut | growth | economi persist current account surplus |
| economi | demand export need contribut growth | economi | persist current account surplus china |
| countri | surplus china germani mani oilproduc | countri | domest demand must go broad |
| growth | go broad speak mean boost | growth | consumpt case exchang rate appreci |
| also | consumpt case exchang rate appreci | also | play import role g new |
| economi | regard framework leader world largest | economi | account adopt nation polici compat |
| polici | largest economi account adopt nation | polici | compat greater global econom good |
| global | adopt nation polici compat greater | global | econom good imf provid import |
| econom | nation polici compat greater global | econom | good imf provid import analyt |
| also | address financi sector issu let | also | say word intern monetari system |
| global | intern monetari system import element | global | financi architectur whole exist system |
| countri | system strain done eas pressur | countri | access better financi insur need |
| need | countri access better financi insur | need | build precautionari reserv could lessen |
| financ | flexibl credit line provid upfront | financ | subsequ condit tri meet need |
| need | financ subsequ condit tri meet | need | alreadi support sever major emerg |
| market | alreadi support sever major emerg | market | crisi includ mexico renew credit |
| countri | make use wider set member | countri | cours precautionari buildup reserv part |
| countri | precautionari buildup reserv part stori | countri | exportl growth strategi contribut reserv |
| growth | reserv part stori countri exportl | growth | strategi contribut reserv buildup hope |
| global | strategi contribut reserv buildup hope | global | demand rebalanc sourc reserv accumul |
| also | demand rebalanc sourc reserv accumul | also | taper build resili global financi |
| global | accumul also taper build resili | global | financi framework let turn financi |
| econom | reshap financi sector job support | econom | growth without inflict cost crise |
| growth | financi sector job support econom | growth | without inflict cost crise economi |
| economi | growth without inflict cost crise | economi | taxpay countri level prioriti reform |
| countri | inflict cost crise economi taxpay | countri | level prioriti reform wellknown includ |
| market | achiev serious last reform financi | market | stage impress comeback fool believ |
| countri | doubt featur promin regard mani | countri | approach biggerpictur reform differ direct |
| polici | speed present great risk uncoordin | polici | distort capit flow regulatori arbitrag |
| global | larg complex financi institut domin | global | financ recent propos special resolut |
| financ | complex financi institut domin global | financ | recent propos special resolut author |
| also | failur institut parent level import | also | need consid prevent measur limit |
| need | institut parent level import also | need | consid prevent measur limit size |
| global | author financi hold compani pend | global | agreement system hole goitalon nation |
| global | hole goitalon nation approach inde | global | approach stand best chanc avoid |
| need | particular crossbord bank view europ | need | integr framework crisi prevent manag |
| need | flow strengthen abil respond crise | need | better versatil financ instrument ve |
| financ | respond crise need better versatil | financ | instrument ve alreadi mention fcl |
| also | lend parallel fund program could | also | lowincom member exampl provid insur |
| global | lowincom member exampl provid insur | global | volatil shock second key messag |
| need | save world anoth great depress | need | intern collabor even greater seek |
| econom | even greater seek creat new | econom | financi landscap deliv strong econom |
| econom | econom financi landscap deliv strong | econom | growth support innov yet safe |
| growth | financi landscap deliv strong econom | growth | support innov yet safe financi |
| also | european project next level must | also | use polit influenc make sure |
| global | use polit influenc make sure | global | solut emerg thank attent |
| global | particip similar dialogu tanzania focus | global | financi crisi affect africa year |
| econom | year later attent turn africa | econom | transform crisi debat could import |
| countri | said mani time past african | countri | larg innoc victim crisi crisi |
| economi | difficulti result disappoint year african | economi | mark end longest broadest expans |
| growth | longest broadest expans modern histori | growth | subsaharan africa close percent hum |
| growth | credit commerci activ imf expect | growth | around  ½ percent short |
| global | africa back although lot depend | global | recoveri still earli stage polici |
| polici | global recoveri still earli stage | polici | respons crisisa dust settl think |
| countri | differ main reason mani african | countri | ran good polici crisi polici |
| polici | mani african countri ran good | polici | crisi polici inocul sever downturn |
| polici | countri ran good polici crisi | polici | inocul sever downturn strengthen budget |
| countri | debt posit improv dramat mani | countri | abl use budget counteract crisi |
| polici | time revenu fall rapid fiscal | polici | appropri countercycl twothird subsaharan african |
| countri | appropri countercycl twothird subsaharan african | countri | major benefit fiscal cushion protect |
| countri | crisi social spend preserv thirtytwo | countri | oper condit cash transfer program |
| countri | oper condit cash transfer program | countri | adopt development approach social protect |
| countri | work program food secur mani | countri | still earli remov fiscal crutch |
| need | crutch recoveri still hesit unsteadi | need | polici support especi access noninflationari |
| polici | recoveri still hesit unsteadi need | polici | support especi access noninflationari prefer |
| financ | access noninflationari prefer concession sourc | financ | plan laid begin rebuild buffer |
| countri | crisi role imfwhil credit goe | countri | intern communiti also help africa |
| also | credit goe countri intern communiti | also | help africa cope crisi imf |
| need | financi toolkit tailor lend divers | need | increas divers group african countri |
| countri | need increas divers group african | countri | move toward less intrus condit |
| polici | less intrus condit focus core | polici | measur critic stabil growth poverti |
| growth | core polici measur critic stabil | growth | poverti reduct make sure program |
| also | protect social spend propoor initi | also | adopt flexibl approach debt countri |
| countri | also adopt flexibl approach debt | countri | lower debt vulner strong capac |
| also | lack suffici infrastructur develop imf | also | help extens technic assist sound |
| polici | help extens technic assist sound | polici | must built sound foundat mani |
| countri | must built sound foundat mani | countri | still need strengthen institut build |
| need | sound foundat mani countri still | need | strengthen institut build capac imf |
| econom | laurel africa remain high vulner | econom | disloc mani differ sourc think |
| countri | price natur disast instabl neighbor | countri | think risk come reli heavili |
| countri | compound initi suffer especi resourcerich | countri | bless rich turn rapid curs |
| growth | twin challeng africa reviv strong | growth | reinforc resili shock first place |
| polici | shock first place start macroeconom | polici | major lesson crisi countri sow |
| countri | macroeconom polici major lesson crisi | countri | sow time plenti abl reap |
| polici | plenti abl reap time loss | polici | buffer must therefor rebuilt allow |
| polici | allow futur countercycl respons fiscal | polici | reserv social safeti net must |
| also | line defens popul advers shock | also | bewar widen incom inequ across |
| countri | tension make shock destabil els | countri | increas resili shock better insur |
| econom | resili shock better insur soften | econom | hardship shock make public financ |
| financ | econom hardship shock make public | financ | predict policymak explor innov approach |
| countri | policymak explor innov approach exampl | countri | might benefit debt instrument flexibl |
| financ | credit line design deliv fast | financ | limit polici condit help countri |
| polici | design deliv fast financ limit | polici | condit help countri suffer shock |
| countri | financ limit polici condit help | countri | suffer shock conflict fragil think |
| countri | way enhanc support shockpron lowincom | countri | climat chang climat financingwhen talk |
| countri | end shock unfortun hit lowincom | countri | soonest hardest africa contribut littl |
| need | world bank elsewher amount resourc | need | clear macroeconom implic sustain growth |
| growth | need clear macroeconom implic sustain | growth | develop countri requir largescal longterm |
| countri | macroeconom implic sustain growth develop | countri | requir largescal longterm invest climat |
| need | copenhagen accord suggest billion year | need | exist aid commit difficult standard |
| global | someth hope make signific contribut | global | debat consider intern communiti time |
| financ | level advisori group climat chang | financ | cochair gordon brown mele zenawi |
| financ | mele zenawi begin work much | financ | come grant highlyconcession loan need |
| need | financ come grant highlyconcession loan | need | subsidi ultim come budgetari transfer |
| countri | ultim come budgetari transfer develop | countri | draw scaledup carbon tax expand |
| need | sourc take time put place | need | interim solut green fund could |
| financ | could act bridg largescal carbonbas | financ | medium term imf quota could |
| economi | week conclusionlet conclud transform africa | economi | boost live standard increas resili |
| also | chang cours intern communiti must | also | play part increas integr world |
| countri | ahead parochi concern time richer | countri | must cave domest polit pressur |
| countri | pressur expens futur generat poorer | countri | must resist temptat reduc aid |
| global | first want share imf view | global | region econom outlook second highlight |
| econom | share imf view global region | econom | outlook second highlight key challeng |
| polici | environ particular challeng exit extraordinari | polici | support build stabl financi system |
| growth | agenda achiev strong sustain balanc | growth | global region econom outlooklet begin |
| global | achiev strong sustain balanc growth | global | region econom outlooklet begin outlook |
| econom | sustain balanc growth global region | econom | outlooklet begin outlook world economi |
| economi | econom outlooklet begin outlook world | economi | follow deepest global recess recent |
| global | outlook world economi follow deepest | global | recess recent histori global recoveri |
| global | deepest global recess recent histori | global | recoveri stronger start earlier anticip |
| global | stronger start earlier anticip expect | global | output rise percent repres upward |
| polici | region still heavili depend extraordinari | polici | support advanc economi growth like |
| economi | depend extraordinari polici support advanc | economi | growth like sluggish output forecast |
| growth | extraordinari polici support advanc economi | growth | like sluggish output forecast expand |
| economi | averag percent  ½ percent | economi | follow sharp declin output recoveri |
| market | state outlook much brighter emerg | market | economi growth expect reach percent |
| economi | outlook much brighter emerg market | economi | growth expect reach percent pick |
| growth | much brighter emerg market economi | growth | expect reach percent pick although |
| polici | region reflect differ initi condit | polici | respons recoveri led key emerg |
| economi | recoveri led key emerg asian | economi | notabl china india indonesia korea |
| growth | domest demand stimulus measur asia | growth | like reach almost percent percentag |
| economi | outlook privat invest mix asian | economi | invest expect pick signific korea |
| also | korea china domest inventori rebuild | also | expect contribut signific growth china |
| growth | rebuild also expect contribut signific | growth | china growth expect reach percent |
| growth | expect contribut signific growth china | growth | expect reach percent follow stronger |
| growth | reach percent follow stronger expect | growth | almost percent activ continu driven |
| polici | strong domest demand support larg | polici | stimulus although also sign privat |
| also | support larg polici stimulus although | also | sign privat sector provid growth |
| growth | also sign privat sector provid | growth | momentum australia remark resili global |
| global | growth momentum australia remark resili | global | turmoil economi hit global financi |
| economi | australia remark resili global turmoil | economi | hit global financi crisi growth |
| global | resili global turmoil economi hit | global | financi crisi growth stronger advanc |
| growth | economi hit global financi crisi | growth | stronger advanc economi thank time |
| economi | financi crisi growth stronger advanc | economi | thank time signific polici respons |
| polici | advanc economi thank time signific | polici | respons robust demand commod china |
| growth | imf forecast  ½ percent | growth | percent growth repres upward revis |
| growth | Â ½ percent growth percent | growth | repres upward revis octob weo |
| global | octob weo revis prompt improv | global | outlook betterthanexpect domest perform recent |
| market | perform recent month especi labor | market | expect growth led domest demand |
| growth | month especi labor market expect | growth | led domest demand privat public |
| polici | second issu policymak face critic | polici | challeng given stillfragil natur recoveri |
| polici | given stillfragil natur recoveri withdraw | polici | support earli may undermin growth |
| growth | polici support earli may undermin | growth | momentum leav polici support long |
| polici | may undermin growth momentum leav | polici | support long could lead overh |
| polici | right time pace sequenc macroeconom | polici | ensur order exita said multispe |
| countri | pace exit strategi differ among | countri | macroeconom polici stimulus maintain major |
| polici | strategi differ among countri macroeconom | polici | stimulus maintain major advanc countri |
| countri | polici stimulus maintain major advanc | countri | may need unwound sooner key |
| need | maintain major advanc countri may | need | unwound sooner key emerg market |
| market | need unwound sooner key emerg | market | advanc economi recoveri expect weak |
| economi | sooner key emerg market advanc | economi | recoveri expect weak central bank |
| polici | time credibl strategi unwind monetari | polici | support need prepar communic clear |
| need | strategi unwind monetari polici support | need | prepar communic clear anchor inflat |
| polici | front due stillfragil natur recoveri | polici | need remain support econom activ |
| need | due stillfragil natur recoveri polici | need | remain support econom activ near |
| econom | recoveri polici need remain support | econom | activ near term stimulus plan |
| countri | term stimulus plan implement howev | countri | face grow concern fiscal sustain |
| need | face grow concern fiscal sustain | need | credibl mediumterm consolid plan also |
| also | need credibl mediumterm consolid plan | also | need start implement measur negat |
| need | credibl mediumterm consolid plan also | need | start implement measur negat impact |
| polici | age public pension strengthen budget | polici | major emerg economi asia latin |
| economi | strengthen budget polici major emerg | economi | asia latin america output gap |
| polici | america output gap rapid close | polici | maker need guard risk overh |
| need | gap rapid close polici maker | need | guard risk overh low interest |
| need | price bubbl suggest earlier exit | need | countri elsewher india output gap |
| countri | bubbl suggest earlier exit need | countri | elsewher india output gap close |
| global | asset price inflat australia enter | global | turmoil solid foot thus exit |
| countri | inde earli recoveri compar advanc | countri | allow reserv bank australia begin |
| global | plan howev still fragil natur | global | recoveri suggest withdraw polici stimulus |
| polici | natur global recoveri suggest withdraw | polici | stimulus continu proceed gradual medium |
| economi | debt project remain low advanc | economi | standard earli return budget surplus |
| also | relat high extern debt would | also | help budget face longer term |
| market | financi sector reforma know financi | market | recov strong sinc peak crisi |
| econom | sinc peak crisi thank improv | econom | fundament polici support risk appetit |
| polici | crisi thank improv econom fundament | polici | support risk appetit return equiti |
| market | support risk appetit return equiti | market | improv corpor bond issuanc reach |
| market | issuanc reach record level capit | market | reopen result system risk reced |
| financ | issuanc insuffici offset declin bank | financ | particular small medium enterpris new |
| polici | new risk emerg result extraordinari | polici | support concern sustain polit uncertainti |
| countri | led widen sovereign spread small | countri | europ risk public debt issuanc |
| growth | could crowd privat sector credit | growth | gradual rais interest rate privat |
| econom | privat public borrow put drag | econom | recoveri resurg portfolio flow emerg |
| market | recoveri resurg portfolio flow emerg | market | asia receiv larg part surg |
| growth | surg driven primarili rapid improv | growth | prospect rise risk appetit larg |
| market | rate differenti return capit emerg | market | good news howev strength flow |
| econom | howev strength flow may complic | econom | polici manag polici manag surg |
| polici | strength flow may complic econom | polici | manag polici manag surg capit |
| polici | may complic econom polici manag | polici | manag surg capit inflow depend |
| polici | depend circumst option includ macroprudenti | polici | aim limit emerg new asset |
| polici | effect long run cours right | polici | mix depend countri circumst need |
| countri | cours right polici mix depend | countri | circumst need pragmat openmind australia |
| need | polici mix depend countri circumst | need | pragmat openmind australia bank system |
| global | australia bank system prove resili | global | crisi recoveri much quicker australian |
| countri | supervis key avoid emerg problem | countri | much work still need repair |
| need | problem countri much work still | need | repair damag financi system crisi |
| countri | financi system crisi mani advanc | countri | hardhit emerg market countri bank |
| market | mani advanc countri hardhit emerg | market | countri bank system still stress |
| countri | advanc countri hardhit emerg market | countri | bank system still stress unabl |
| economi | channel credit worthi borrow advanc | economi | policymak still address overhang bad |
| need | bad loan moreov bank restructur | need | gain pace includ liquid nonviabl |
| need | shorten bank fund matur rais | need | address rapid advanc wall matur |
| countri | advanc wall matur medium term | countri | adopt polici solidifi financi stabil |
| polici | matur medium term countri adopt | polici | solidifi financi stabil public sector |
| need | financi stabil public sector risk | need | reduc credibl fiscal consolid risk |
| market | signific increas capit requir held | market | risk propos announc decemb aim |
| global | transpar bank capit introduc minimum | global | standard fund liquid impact australian |
| countri | propos may less mani advanc | countri | australian regul adopt conserv approach |
| countri | securit asset mani bank advanc | countri | may affect new rule securit |
| global | regul could stifl innov benefit | global | integr financi system import increas |
| need | capit restrain risktak perimet regul | need | extend better take account risk |
| need | crosssector arbitrag moreov regulatori framework | need | consist across countri order ensur |
| countri | regulatori framework need consist across | countri | order ensur level play field |
| need | ensur level play field regul | need | adjust way econom cycl limit |
| econom | field regul need adjust way | econom | cycl limit risk credit standard |
| econom | credit standard weaken excess optim | econom | upsw imf role help countri |
| countri | econom upsw imf role help | countri | transit healthier financi system ensur |
| polici | help reduc system risk iii | polici | strong sustain balanc growth g |
| growth | iii polici strong sustain balanc | growth | g agendawhat mean practic growth |
| growth | growth g agendawhat mean practic | growth | strong creat enough job return |
| growth | full employ close output gap | growth | sustain driven privat demand rather |
| economi | inventori cycl consist under potenti | economi | growth balanc broadbas across region |
| growth | cycl consist under potenti economi | growth | balanc broadbas across region involv |
| global | broadbas across region involv excess | global | imbal persist larg current account |
| global | intern distort asset price boom | global | extern current account balanc declin |
| polici | widen medium term base current | polici | though precrisi level go forward |
| growth | precrisi level go forward rebalanc | growth | essenti requir shift toward intern |
| economi | requir shift toward intern demand | economi | larg persist current account surplus |
| economi | surplus shift toward extern demand | economi | larg persist current account deficit |
| growth | policymak remain strengthen domest sourc | growth | china need financi reform improv |
| need | strengthen domest sourc growth china | need | financi reform improv credit avail |
| growth | structur reform could enhanc domest | growth | prospect korea japan mani asean |
| economi | prospect korea japan mani asean | economi | improv environ privat invest key |
| countri | remov red tape unit state | countri | europ tradit run larg current |
| need | run larg current account deficit | need | shift resourc toward tradabl sector |
| market | exchang rate flexibl major emerg | market | surplus countri would help rebalanc |
| countri | flexibl major emerg market surplus | countri | would help rebalanc allow currenc |
| market | allow currenc strengthen key emerg | market | surplus countri would rais household |
| countri | strengthen key emerg market surplus | countri | would rais household purchas power |
| countri | sector depreci currenc major deficit | countri | would facilit adjust away overstretch |
| also | avail foreign exchang liquid could | also | help promot greater exchang rate |
| financ | way boost avail precautionari crisi | financ | reform financ facil also explor |
| financ | avail precautionari crisi financ reform | financ | facil also explor possibl collabor |
| also | crisi financ reform financ facil | also | explor possibl collabor region reserv |
| global | pool achiev strong sustain balanc | global | growth requir collabor polici effort |
| growth | achiev strong sustain balanc global | growth | requir collabor polici effort advanc |
| polici | balanc global growth requir collabor | polici | effort advanc emerg economi g |
| economi | collabor polici effort advanc emerg | economi | g ask imf assist countri |
| countri | economi g ask imf assist | countri | develop analysi consist individu countri |
| countri | countri develop analysi consist individu | countri | polici framework way world largest |
| polici | develop analysi consist individu countri | polici | framework way world largest economi |
| economi | polici framework way world largest | economi | account adopt polici need ensur |
| polici | world largest economi account adopt | polici | need ensur strong stabl sustain |
| need | largest economi account adopt polici | need | ensur strong stabl sustain growth |
| growth | need ensur strong stabl sustain | growth | iv conclud remarkslet conclud say |
| global | say stand major turn point | global | govern econom develop need adapt |
| econom | major turn point global govern | econom | develop need adapt new challeng |
| need | point global govern econom develop | need | adapt new challeng present current |
| countri | challeng present current environ achiev | countri | need play part close polici |
| need | present current environ achiev countri | need | play part close polici cooper |
| polici | countri need play part close | polici | cooper amongst major countri critic |
| countri | close polici cooper amongst major | countri | critic overcom acut period crisi |
| economi | abl build stabl prosper world | economi | pleasur speak afternoon thank |
| global | particular abar invit share view | global | outlook address emin audienc us |
| countri | fund extrem import visit member | countri | exchang view challeng face learn |
| global | touch two topic first talk | global | region outlook second spell view |
| polici | outlook second spell view main | polici | challeng global outlooklet start big |
| global | spell view main polici challeng | global | outlooklet start big pictur follow |
| global | start big pictur follow deep | global | recess recoveri stronger start earlier |
| global | anticip recent revis project expect | global | growth rise close percent asia |
| growth | recent revis project expect global | growth | rise close percent asia lead |
| global | remain fragil move remark synchron | global | downturn multispe recoveri pose challeng |
| economi | multispe recoveri pose challeng advanc | economi | growth like sluggish still depend |
| growth | recoveri pose challeng advanc economi | growth | like sluggish still depend govern |
| countri | percent  ½ percent advanc | countri | recoveri slow past standard sign |
| countri | us high public debt advanc | countri | well still fragil financi system |
| market | challeng recoveri situat better emerg | market | growth expect reach percent recoveri |
| growth | recoveri situat better emerg market | growth | expect reach percent recoveri led |
| economi | recoveri led key emerg asian | economi | notabl china india indonesia korea |
| polici | sheet onset asian crisi forc | polici | respons support activ asia china |
| economi | sustain domest demand posit spillov | economi | commod export also recov emerg |
| also | posit spillov economi commod export | also | recov emerg market europ lag |
| market | commod export also recov emerg | market | europ lag behind mani economi |
| economi | market europ lag behind mani | economi | inflat expect remain contain rise |
| economi | output gap capac util advanc | economi | remain low howev emerg market |
| market | economi remain low howev emerg | market | economi may face stronger upward |
| economi | remain low howev emerg market | economi | may face stronger upward price |
| market | inflow especi emerg asia financi | market | continu recov reflect improv econom |
| econom | market continu recov reflect improv | econom | prospect mani case public support |
| market | general risk appetit return equiti | market | improv compani abl tap market |
| market | market improv compani abl tap | market | financ direct offset declin bank |
| financ | improv compani abl tap market | financ | direct offset declin bank financ |
| financ | financ direct offset declin bank | financ | negat side high debt level |
| countri | lead concern sovereign risk advanc | countri | sovereign debt issuanc increas substanti |
| countri | issuanc increas substanti sinc advanc | countri | bond market come pressur small |
| market | substanti sinc advanc countri bond | market | come pressur small european countri |
| countri | market come pressur small european | countri | economi struggl larg govern deficit |
| economi | come pressur small european countri | economi | struggl larg govern deficit ii |
| growth | outlook asialet turn prospect region | growth | asia solid foot larg driven |
| growth | buoyant domest demand region whole | growth | like reach almost percent percentag |
| market | improv confid asset valu labor | market | outlook privat invest mix asian |
| economi | outlook privat invest mix asian | economi | invest expect pick signific korea |
| growth | level except korea china china | growth | expect reach percent follow stronger |
| growth | reach percent follow stronger expect | growth | almost percent activ continu driven |
| polici | strong domest demand support larg | polici | stimulus also sign china privat |
| also | demand support larg polici stimulus | also | sign china privat sector provid |
| growth | sign china privat sector provid | growth | momentum iii outlook commoditiescommod price |
| growth | increas onset recoveri driven buoyant | growth | emerg economi especi asia despit |
| economi | recoveri driven buoyant growth emerg | economi | especi asia despit high inventori |
| growth | asia despit high inventori rapid | growth | china commod import bolster expect |
| polici | slow somewhat year given sign | polici | tighten pipelin restock run cours |
| global | price expect rise bit strength | global | demand especi emerg economi extent |
| economi | strength global demand especi emerg | economi | extent upward price pressur also |
| also | economi extent upward price pressur | also | depend suppli respons commod howev |
| market | capac current price commod deriv | market | suggest anoth broadbas commod price |
| global | iv outlook australiaaustralia remark resili | global | turmoil economi inde hit global |
| economi | australiaaustralia remark resili global turmoil | economi | inde hit global crisi growth |
| global | global turmoil economi inde hit | global | crisi growth stronger advanc economi |
| growth | economi inde hit global crisi | growth | stronger advanc economi resili result |
| economi | global crisi growth stronger advanc | economi | resili result robust demand commod |
| also | interest rate sizabl fiscal stimulus | also | key factor australian economi expect |
| economi | stimulus also key factor australian | economi | expect grow  ½ percent |
| growth | percent percent accord latest forecast | growth | led domest demand privat public |
| market | perform recent month especi labor | market | strong commod incom prospect support |
| polici | rate would provid buffer v | polici | challeng aheadlet turn major polici |
| polici | polici challeng aheadlet turn major | polici | challeng go forward near term |
| polici | right time pace sequenc exit | polici | stimulus act earli aggress recoveri |
| countri | trigger inflationari pressur asset bubbl | countri | high public debt slow exit |
| market | fiscal stimulus could scare financi | market | lead loss investor confid especi |
| also | term plan fiscal consolid credibl | also | import mediumterm challeng rebalanc sourc |
| global | import mediumterm challeng rebalanc sourc | global | growth reform financi system bring |
| growth | mediumterm challeng rebalanc sourc global | growth | reform financi system bring debt |
| polici | policieslet elabor challeng respect macroeconom | polici | multispe recoveri mean appropri polici |
| polici | polici multispe recoveri mean appropri | polici | respons vari across countri advanc |
| countri | appropri polici respons vari across | countri | advanc countri recoveri expect weak |
| countri | respons vari across countri advanc | countri | recoveri expect weak macroeconom polici |
| polici | countri recoveri expect weak macroeconom | polici | stimulus maintain privat demand selfsustain |
| economi | high time howev major emerg | economi | asia latin america output gap |
| countri | increas suggest earlier exit appropri | countri | india output gap close inflationari |
| global | asset price inflat australia enter | global | turmoil solid foot thus exit |
| countri | inde earli recoveri compar advanc | countri | allow reserv bank australia begin |
| global | rate howev still fragil natur | global | recoveri suggest withdraw polici stimulus |
| polici | natur global recoveri suggest withdraw | polici | stimulus proceed gradual fiscal front |
| economi | debt project remain low advanc | economi | standard earli return budget surplus |
| also | relat high extern debt would | also | help budget face longer term |
| global | fund medium term main challeng | global | economi rebal growth economi persist |
| economi | medium term main challeng global | economi | rebal growth economi persist current |
| growth | main challeng global economi rebal | growth | economi persist current account surplus |
| economi | challeng global economi rebal growth | economi | persist current account surplus requir |
| economi | requir shift toward intern demand | economi | persist current account deficit requir |
| polici | shift toward extern demand asia | polici | would vari across countri china |
| countri | asia polici would vari across | countri | china need establish broader social |
| need | would vari across countri china | need | establish broader social protect help |
| need | help reduc household precautionari save | need | structur reform servic sector rais |
| also | sector rais product servic sector | also | key japan korea mani asean |
| economi | key japan korea mani asean | economi | improv environ privat invest play |
| also | partnership greater exchang rate flexibl | also | facilit rebalanc unit state countri |
| countri | also facilit rebalanc unit state | countri | euro area reli excess domest |
| growth | area reli excess domest demandl | growth | need shift resourc toward tradabl |
| need | reli excess domest demandl growth | need | shift resourc toward tradabl sector |
| countri | crisi financi system remain fragil | countri | mani advanc countri hardhit emerg |
| countri | remain fragil countri mani advanc | countri | hardhit emerg market bank still |
| market | mani advanc countri hardhit emerg | market | bank still stress design exit |
| polici | stress design exit financi support | polici | repres critic challeng exit support |
| market | challeng exit support shorterterm fund | market | liquid provis could relat fast |
| market | facil longer use case privat | market | activ reviv howev facil may |
| need | activ reviv howev facil may | need | remain place time includ support |
| market | place time includ support mortgag | market | us purchas govern bond uk |
| global | uncertainti may encourag resumpt lend | global | consist regul essenti financi stabil |
| market | ensur level play field emerg | market | countri design polici manag surg |
| countri | level play field emerg market | countri | design polici manag surg capit |
| polici | field emerg market countri design | polici | manag surg capit inflow macroeconom |
| polici | surg capit inflow macroeconom prudenti | polici | use address potenti bubbl earli |
| market | manag margin collater system secur | market | help reduc risk addit countri |
| countri | market help reduc risk addit | countri | need consid increas currenc flexibl |
| need | help reduc risk addit countri | need | consid increas currenc flexibl macroeconom |
| polici | consid increas currenc flexibl macroeconom | polici | adjust order restrain capit inflow |
| market | seek benefit oneway bet currenc | market | c fiscal policiesth crisi left |
| countri | public debt increas particular advanc | countri | ad exist longer term challeng |
| need | addit beyond question stimulus end | need | larg mediumterm fiscal consolid strateg |
| growth | higher interest rate lower potenti | growth | less flexibl respond shock lower |
| need | year major primari balanc correct | need | involv difficult measur histori tell |
| polici | histori tell us done fiscal | polici | still need remain support econom |
| need | us done fiscal polici still | need | remain support econom activ year |
| econom | polici still need remain support | econom | activ year wherev possibl countri |
| countri | econom activ year wherev possibl | countri | high public debt sovereign risk |
| countri | exit earlier fiscal stimulus advanc | countri | provid strong commit mediumterm fiscal |
| also | credibl detail fiscal consolid strategi | also | need start implement measur negat |
| need | detail fiscal consolid strategi also | need | start implement measur negat impact |
| polici | age public pension strengthen budget | polici | vi conclud remarkslet conclud say |
| need | provid import lesson respect area | need | substanti overhaul financi sector regul |
| also | overhaul financi sector regul supervis | also | need greater intern cooper econom |
| need | financi sector regul supervis also | need | greater intern cooper econom financi |
| econom | also need greater intern cooper | econom | financi polici close polici cooper |
| polici | greater intern cooper econom financi | polici | close polici cooper amongst major |
| polici | cooper econom financi polici close | polici | cooper amongst major countri critic |
| countri | close polici cooper amongst major | countri | critic overcom acut period crisi |
| polici | creat innov process mutual assess | polici | center share object strong balanc |
| growth | share object strong balanc sustain | growth | imf play role provid analyt |
| polici | role provid analyt support ongo | polici | discuss path ahead easi unpreced |
| economi | abl build stabl prosper world | economi | thank |
| market | wormser contribut develop french financi | market | also preserv memori import particular |
| also | contribut develop french financi market | also | preserv memori import particular admir |
| also | surpris wide circl friend admir | also | america elsewher open proceed posit |
| econom | regard strength recoveri recent world | econom | outlook weo forecast anticip global |
| global | econom outlook weo forecast anticip | global | growth around percent year around |
| growth | outlook weo forecast anticip global | growth | around percent year around percent |
| growth | support measur time uneven pace | growth | countri prospect renew widen global |
| countri | measur time uneven pace growth | countri | prospect renew widen global imbal |
| global | growth countri prospect renew widen | global | imbal still repres risk challeng |
| growth | challeng pertain establish strong sustain | growth | medium term includ reevalu macroeconom |
| polici | medium term includ reevalu macroeconom | polici | framework redesign financi regul supervis |
| economi | institut sponsor confer reconstruct world | economi | confer address challeng set interest |
| growth | g framework strong sustain balanc | growth | deal crisisrel surg public debt |
| financ | last resort past weekend group | financ | central bank deputi met incheon |
| polici | take place year june novemb | polici | agenda address leader broad high |
| countri | anticrisi action agre implement g | countri | last year doubt instrument avoid |
| global | doubt instrument avoid much deeper | global | crisi test maintain coher focus |
| growth | implement framework strong sustain balanc | growth | agre last year pittsburgh summit |
| polici | mutual assess process altern mediumterm | polici | program examin discuss highest polit |
| polici | goal insur budget monetari structur | polici | across g countri coher consist |
| countri | monetari structur polici across g | countri | coher consist support possibl restor |
| global | support possibl restor sustain wellbalanc | global | growth success framework process would |
| growth | possibl restor sustain wellbalanc global | growth | success framework process would boost |
| global | boost confid stabil durabl renew | global | expans thus stake high unpreced |
| polici | stake high unpreced effort intern | polici | cooper imf provid technic support |
| countri | unpreced fiscal stimulus implement g | countri | other howev largescal effort costless |
| countri | general govern gross debt advanc | countri | rise averag percent gdp end |
| economi | close exceed percent gdp g | economi | except canada alreadi averag debttogdp |
| countri | alreadi averag debttogdp ratio advanc | countri | project reach level prevail aftermath |
| polici | health care cost basi current | polici | exist cost trend project spend |
| economi | conclud public debt ratio advanc | economi | present unsustain path situat favor |
| market | unsustain path situat favor emerg | market | economi averag debt ratio rise |
| economi | path situat favor emerg market | economi | averag debt ratio rise expect |
| countri | expect begin declin next year | countri | exempt fiscal risk howev baselin |
| economi | fiscal tighten plan sever emerg | economi | absenc negat spillov advanc economi |
| economi | economi absenc negat spillov advanc | economi | increas advanc economi debt reflect |
| economi | spillov advanc economi increas advanc | economi | debt reflect sever factor notabl |
| polici | debt rise mere unwind discretionari | polici | therefor far suffici bring deficit |
| polici | bring high relief profound fiscal | polici | challeng previous main seen prospect |
| econom | fiscal sustain could undermin confid | econom | recoveri medium term high public |
| growth | high real interest rate slower | growth | cours general agreement rise govern |
| need | agreement rise govern debt ratio | need | curb howev less agreement level |
| countri | back crisi began even lower | countri | start high debt stabil debt |
| polici | postcrisi level easi without substanti | polici | action control spend growth pension |
| growth | substanti polici action control spend | growth | pension health care advanc g |
| countri | pension health care advanc g | countri | simpli would suffer everris public |
| econom | public spend burden outpac either | econom | growth prospect revenu increas current |
| growth | spend burden outpac either econom | growth | prospect revenu increas current tax |
| polici | anoth way benefit would sacrif | polici | stabil postcrisi debt ratio first |
| countri | respons event futur downturn inde | countri | itali respons current crisi alreadi |
| countri | associ greater vulner crise especi | countri | debt ratio alreadi relat high |
| also | even larger debt ratio high | also | evid effect weaker fiscal account |
| countri | fiscal deterior take place mani | countri | time term access foreign financ |
| financ | countri time term access foreign | financ | budget deficit like tighten third |
| growth | debt ratio seem associ slower | growth | preliminari analysi staff sampl advanc |
| economi | analysi staff sampl advanc emerg | economi | suggest negat impact govern debt |
| growth | ratio appear lead slowdown annual | growth | percentag point somewhat smaller impact |
| economi | point somewhat smaller impact advanc | economi | high public debt associ higher |
| growth | associ higher interest rate slower | growth | larger primari surplus would need |
| need | growth larger primari surplus would | need | ensur debt stabil therefor despit |
| market | level debt composit depth financi | market | could outcom achiev alway temptat |
| economi | howev first channel modest advanc | economi | base money relat small second |
| countri | altogeth comput increas inflat oecd | countri | say percent current weo forecast |
| economi | creat major cost risk advanc | economi | inflat goal target well inflat |
| econom | rise distort resourc alloc reduc | econom | growth hurt poor tend exacerb |
| growth | distort resourc alloc reduc econom | growth | hurt poor tend exacerb social |
| economi | general wellanchor inflat expect advanc | economi | welfar cost transit faster inflat |
| growth | would trivial contrast acceler potenti | growth | especi occur combin expenditur moder |
| growth | contribut lower debt ratio faster | growth | rais revenu spent effect debt |
| growth | one percentag point increas annual | growth | sustain year hold real spend |
| market | growthenhanc reform increas competit good | market | remov labor market tax distort |
| market | competit good market remov labor | market | tax distort pursu vigor parenthet |
| growth | time effect structur reform potenti | growth | caution build fiscal adjust strategi |
| growth | strategi primarili around assum optimist | growth | path fiscal author base plan |
| growth | fiscal author base plan conserv | growth | project hope growth revenu windfal |
| growth | plan conserv growth project hope | growth | revenu windfal speed process allevi |
| need | may appear increas primari surplus | need | achiev despit current project increas |
| market | stop capit flow intern financi | market | illiquid general agre reserv hold |
| countri | reserv potenti could make difficult | countri | countri provid reserv asset achiev |
| countri | potenti could make difficult countri | countri | provid reserv asset achiev fiscal |
| market | risk current conjunctur mani emerg | market | economi author other could conclud |
| economi | current conjunctur mani emerg market | economi | author other could conclud recent |
| global | complic effort restor strong sustain | global | growth instead borrow global lender |
| growth | effort restor strong sustain global | growth | instead borrow global lender last |
| global | sustain global growth instead borrow | global | lender last resort could provid |
| countri | fcl success bolster investor confid | countri | access facil far howev sinc |
| countri | consider inevit limit number qualifi | countri | look forward clear central bank |
| market | size basi futur period intern | market | strain thus fund explor whether |
| need | develop would limit member perceiv | need | addit reserv time avenu make |
| also | provid effect effici reserv substitut | also | pursu includ enhanc backstop region |
| also | innov method provid reserv substitut | also | suggest modifi term fund special |
| also | seem rather distant possibl cours | also | motiv reserv hold attempt limit |
| econom | best dealt context broad multilater | econom | polici discuss g framework process |
| polici | dealt context broad multilater econom | polici | discuss g framework process latter |
| polici | world provid independ stateoftheart analysi | polici | advic well direct support adjust |
| polici | sourc inform analysi emerg fiscal | polici | challeng broad work g support |
| polici | broad work g support concret | polici | goal well global membership order |
| global | support concret polici goal well | global | membership order help produc strong |
| growth | help produc strong sustain balanc | growth | benefit clear success go requir |
| need | busi usual suffic chang go | need | around cours includ fund high |
| need | provid valuabl input best serv | need | membership support effort today global |
| global | need membership support effort today | global | communiti slowli emerg worst financi |
| countri | imf vision respond challeng member | countri | face postcrisi era vision enabl |
| need | els fund adapt respons evolv | need | member import continu overarch aim |
| econom | import continu overarch aim promot | econom | stabil collabor ultim goal support |
| polici | deterior situat made case coordin | polici | stimulus put forward concern health |
| global | concern health major bank support | global | polici respons led g monitor |
| polici | health major bank support global | polici | respons led g monitor analysi |
| polici | stay true purpos messag tough | polici | issu instanc becom nuanc tailor |
| polici | full rang macroeconom financi sector | polici | bear global stabil modern world |
| global | macroeconom financi sector polici bear | global | stabil modern world mani way |
| need | lesson crisi surveil crisi prevent | need | much rigor greater coverag financi |
| financ | fund serv reliabl provid crisi | financ | lend crisi respons must speed |
| need | point crisi preventionfirst crisi prevent | need | improv oversight system financi risk |
| econom | risk principl fund surveil cover | econom | polici individu member countri develop |
| polici | principl fund surveil cover econom | polici | individu member countri develop relat |
| countri | cover econom polici individu member | countri | develop relat global economi whole |
| global | individu member countri develop relat | global | economi whole practic bulk effort |
| economi | member countri develop relat global | economi | whole practic bulk effort countri |
| countri | economi whole practic bulk effort | countri | level one result paid enough |
| economi | paid enough attent linkag spillov | economi | includ transmit arteri global financi |
| global | spillov economi includ transmit arteri | global | financi system reason may need |
| need | global financi system reason may | need | clearer mandat pursu risk global |
| global | need clearer mandat pursu risk | global | econom stress financi stabil particular |
| econom | clearer mandat pursu risk global | econom | stress financi stabil particular float |
| polici | assess broader system effect countrylevel | polici | associ risk fundament differ way |
| need | associ risk fundament differ way | need | take issu system import frank |
| economi | risk system make world largest | economi | account ensur global consist econom |
| global | world largest economi account ensur | global | consist econom polici cours much |
| econom | economi account ensur global consist | econom | polici cours much broader rang |
| polici | account ensur global consist econom | polici | cours much broader rang intern |
| polici | cours much broader rang intern | polici | challeng current consid map enhanc |
| countri | enhanc multilater approach increas account | countri | essenti find last solut see |
| countri | one way would introduc themat | countri | report staff undertak joint polici |
| polici | countri report staff undertak joint | polici | discuss sever countri face common |
| countri | undertak joint polici discuss sever | countri | face common issu type analysi |
| countri | analysi would improv comparison across | countri | analysi region spillov inde interest |
| countri | inde interest traction surveil member | countri | financi risk need much better |
| need | surveil member countri financi risk | need | much better job trace risk |
| global | financi institut make basic plumb | global | capit flow task would monitor |
| need | locat concentr asset liabil short | need | abl construct global risk map |
| global | liabil short need abl construct | global | risk map alreadi work partner |
| polici | flow must effect includ forthright | polici | advic capit account liber mani |
| polici | launch capit control might appropri | polici | respons balanc payment macroeconom pressur |
| also | requir fund improv oversight risk | also | member countri strengthen capac reason |
| countri | improv oversight risk also member | countri | strengthen capac reason intend work |
| market | import fact crisi key emerg | market | economi fund fact first respond |
| economi | fact crisi key emerg market | economi | fund fact first respond rather |
| countri | fund fact first respond rather | countri | turn fed central bank provid |
| financ | flexibl credit line fcl provid | financ | member prequalifi condit across financ |
| financ | financ member prequalifi condit across | financ | fact streamlin condit focus better |
| countri | condit focus better essenti particular | countri | regain macroeconom stabil might build |
| financ | inde posit stabil forc intern | financ | exemplifi recent european union lend |
| countri | vital import issu support lowincom | countri | come long way past year |
| countri | year revamp lend framework poor | countri | introduc new financ instrument streamlin |
| financ | framework poor countri introduc new | financ | instrument streamlin condit major boost |
| countri | allow us tripl lend lowincom | countri | next year two eas financi |
| countri | waiv interest due lend lowincom | countri | believ could even exampl consid |
| countri | expand role provid insur lowincom | countri | global volatil shock includ effect |
| global | role provid insur lowincom countri | global | volatil shock includ effect climat |
| countri | chang anoth challeng best support | countri | face fragil secur issu look |
| financ | assist member deal serious macroeconom | financ | consequ climat chang much part |
| global | much part respons support longterm | global | stabil believ must work other |
| financ | membership undertak care analysi potenti | financ | need medium term need ensur |
| need | undertak care analysi potenti financ | need | medium term need ensur resourc |
| need | potenti financ need medium term | need | ensur resourc base adequ tackl |
| also | could play import role addit | also | mention support multilater effort increas |
| global | mention support multilater effort increas | global | consist econom polici reduc global |
| econom | multilater effort increas global consist | econom | polici reduc global imbal help |
| polici | effort increas global consist econom | polici | reduc global imbal help eas |
| global | global consist econom polici reduc | global | imbal help eas growthrel buildup |
| global | reserv longerterm question whether new | global | reserv asset need certain sever |
| need | whether new global reserv asset | need | certain sever supplier reserv asset |
| polici | intern monetari system whole depend | polici | condit singl albeit domin countri |
| countri | polici condit singl albeit domin | countri | one day fund might even |
| global | might even call upon provid | global | issu reserv asset similar import |
| global | healthi explor kind idea view | global | system might need time futur |
| need | idea view global system might | need | time futur governancea address three |
| also | strengthen intern monetari system must | also | address one import issu govern |
| countri | governor back april far member | countri | repres percent requir percent vote |
| need | achiev last govern reform fund | need | activ support entir membership also |
| also | need activ support entir membership | also | need go beyond issu quota |
| need | activ support entir membership also | need | go beyond issu quota voic |
| need | fulli recogn must conclus world | need | multilater lesslet conclud stress debat |
| need | foundat expect fund adapt chang | need | member postcrisi era crisi taught |
| need | crisi taught us anyth world | need | multilater even today bretton wood |
| countri | wood institut found saw crisi | countri | came togeth act fact believ |
| need | intern collabor stand look forward | need | kind collabor less multilater less |
| need | mistak origin mandat imf valid | need | clarifi strengthen even meet global |
| global | need clarifi strengthen even meet | global | challeng ahead serv membership even |
| econom | pleasur accra alreadi use meet | econom | team leader financi sector look |
| global | experi know africa far epicent | global | financi crisi bore respons despit |
| countri | crisi bore respons despit ghana | countri | region hit aftershock fall global |
| global | countri region hit aftershock fall | global | demand reduc price mani commod |
| economi | mani nontradit export turmoil advanc | economi | financi market also produc sudden |
| market | export turmoil advanc economi financi | market | also produc sudden stop capit |
| also | turmoil advanc economi financi market | also | produc sudden stop capit flow |
| market | sudden stop capit flow emerg | market | develop countri african abroad less |
| countri | capit flow emerg market develop | countri | african abroad less incom send |
| growth | abroad less incom send home | growth | africa slow tax revenu mani |
| countri | africa slow tax revenu mani | countri | reflect develop global recess creat |
| global | revenu mani countri reflect develop | global | recess creat real cost subsaharan |
| growth | cost subsaharan africa averag percent | growth | sinc last year african countri |
| countri | growth sinc last year african | countri | averag percent growth thus per |
| growth | year african countri averag percent | growth | thus per capita incom fell |
| growth | process recoveri restor strong sustain | growth | necessari path achiev goal improv |
| global | live region citizen support imfa | global | financi crisi erupt look urgent |
| global | could help africa weather emerg | global | recess similar crise past imf |
| countri | work hard understand uniqu circumst | countri | help member best confront global |
| global | countri help member best confront | global | develop among first respons financi |
| countri | respons financi crisi ensur lowincom | countri | rapid access imf financ therebi |
| financ | lowincom countri rapid access imf | financ | therebi help avoid contractionari econom |
| econom | financ therebi help avoid contractionari | econom | impact would make downturn sever |
| countri | instanc interest rate loan lowincom | countri | set zero subsequ quarter percent |
| countri | imf loan tailor close member | countri | need disburs lowcost fund quick |
| need | loan tailor close member countri | need | disburs lowcost fund quick countri |
| countri | need disburs lowcost fund quick | countri | temporari urgent need set arrang |
| need | fund quick countri temporari urgent | need | set arrang disburs sever year |
| countri | disburs sever year appropri approach | countri | manag public borrow today provid |
| countri | borrow today provid much flexibl | countri | strong macroeconom public debt perform |
| polici | institut ghana benefit consider new | polici | one largest imf oper africa |
| countri | africa million threeyear arrang ghana | countri | cameroon tanzania similar benefit imf |
| also | imf support condit financi arrang | also | also made flexibl goal focus |
| also | support condit financi arrang also | also | made flexibl goal focus imf |
| econom | focus imf condit reform critic | econom | success ensur countri opportun follow |
| countri | reform critic econom success ensur | countri | opportun follow polici approach appropri |
| polici | success ensur countri opportun follow | polici | approach appropri circumst want work |
| econom | work member explor varieti option | econom | reform generat real progress reliev |
| countri | real progress reliev concern whether | countri | would abl ride global financi |
| global | whether countri would abl ride | global | financi crisi imf member approv |
| economi | new alloc pump billion world | economi | spread across member ghana share |
| countri | cushion extrem import maintain confid | countri | abil meet extern financi oblig |
| polici | long term perhap even use | polici | perspect provid member draw experi |
| countri | perspect provid member draw experi | countri | around world given global recess |
| global | experi countri around world given | global | recess encourag countri start strong |
| countri | world given global recess encourag | countri | start strong budget posit allow |
| polici | posit allow temporari eas fiscal | polici | provid cushion growth job averag |
| growth | eas fiscal polici provid cushion | growth | job averag subsaharan african countri |
| countri | growth job averag subsaharan african | countri | gone fiscal surplus percent gdp |
| also | project deficit near percent cours | also | think ahead member govern effici |
| countri | storm pass discuss author member | countri | monetari exchang rate polici also |
| polici | member countri monetari exchang rate | polici | also agenda sinc recent global |
| also | countri monetari exchang rate polici | also | agenda sinc recent global food |
| global | polici also agenda sinc recent | global | food fuel crisi wane inflationari |
| countri | pressur reduc throughout contin twothird | countri | region abl lower nomin interest |
| growth | nomin interest rate support renew | growth | look forward africath good news |
| economi | news intern cooper among advanc | economi | decis anticrisi measur global economi |
| global | advanc economi decis anticrisi measur | global | economi stabil renew growth evid |
| economi | economi decis anticrisi measur global | economi | stabil renew growth evid mani |
| growth | measur global economi stabil renew | growth | evid mani advanc economi time |
| economi | renew growth evid mani advanc | economi | time also becom increas clear |
| also | evid mani advanc economi time | also | becom increas clear africa look |
| countri | past month encourag mani african | countri | includ ghana come financi crisi |
| also | come financi crisi better past | also | better mani countri throughout world |
| countri | better past also better mani | countri | throughout world consider part earlier |
| polici | part earlier strengthen monetari budget | polici | well structur reform mani countri |
| countri | polici well structur reform mani | countri | one result exampl african central |
| also | debt relief imf mani other | also | help freed resourc could use |
| global | invest infrastructur support poor legaci | global | recess sluggish growth higher poverti |
| growth | poor legaci global recess sluggish | growth | higher poverti critic african countri |
| countri | growth higher poverti critic african | countri | rais growth perform help acceler |
| growth | poverti critic african countri rais | growth | perform help acceler job creation |
| econom | natur resourc regul financi sector | econom | statist technic assist provid headquart |
| global | accra help foster return balanc | global | growth also want african countri |
| growth | help foster return balanc global | growth | also want african countri clear |
| also | foster return balanc global growth | also | want african countri clear voic |
| countri | global growth also want african | countri | clear voic intern financi institut |
| countri | reform govern part member africa | countri | larger say imf particular work |
| countri | particular work ensur world fastestgrow | countri | adequ voic fund govern time |
| countri | time want ensur voic lowincom | countri | protect aggreg quota subsaharan african |
| countri | imbal meant world crisi widen | countri | room boost demand fiscal stimulus |
| econom | turn imf financi support threeyear | econom | program agre center fiscal adjust |
| polici | includ measur revenu administr tax | polici | financi manag everyth rosi cours |
| financ | equal import howev sound public | financ | need futur oil revenu underpin |
| need | import howev sound public financ | need | futur oil revenu underpin expand |
| need | deliv qualiti infrastructur power road | need | boost econom growth oil resourc |
| econom | infrastructur power road need boost | econom | growth oil resourc help financ |
| growth | power road need boost econom | growth | oil resourc help financ invest |
| financ | econom growth oil resourc help | financ | invest requir disciplin nonoil budget |
| countri | communic challeng explain ghanaian unless | countri | fiscal affair manag care even |
| growth | revenu abl make real differ | growth | job creation live standard face |
| countri | natur resourc wealth use product | countri | abl manag econom polici eye |
| econom | use product countri abl manag | econom | polici eye longer term botswana |
| polici | product countri abl manag econom | polici | eye longer term botswana chile |
| econom | oil gain wise like central | econom | polici challeng ghana time come |
| polici | gain wise like central econom | polici | challeng ghana time come imf |
| countri | among impress gather expert mani | countri | asian region academ polici maker |
| polici | mani countri asian region academ | polici | maker repres privat sector around |
| global | institut help local arrang time | global | economi recov sever crisi sinc |
| economi | help local arrang time global | economi | recov sever crisi sinc great |
| market | financi crise roil mani emerg | market | economi seem opportun occas reflect |
| economi | crise roil mani emerg market | economi | seem opportun occas reflect lesson |
| need | lesson imf surveil crisi prevent | need | much rigor term tradit countrylevel |
| also | term tradit countrylevel macroeconom analysi | also | view better encompass financi sector |
| market | prior current crisi aftermath emerg | market | countri capit account crise imf |
| countri | current crisi aftermath emerg market | countri | capit account crise imf surveil |
| market | well gear spot vulner emerg | market | economi instanc problem emerg europ |
| economi | gear spot vulner emerg market | economi | instanc problem emerg europ extens |
| economi | telegraph under vulner imbal made | economi | ripe crisi much less well |
| economi | well appreci natur vulner advanc | economi | especi major financi center like |
| economi | hous bubbl unit state advanc | economi | ultim rest world obvious conclus |
| countri | obvious conclus draw crise advanc | countri | though rare like broader ramif |
| market | balanc payment crisi familiar emerg | market | countri experi strengthen fund capac |
| countri | payment crisi familiar emerg market | countri | experi strengthen fund capac anticip |
| market | analyt tool origin develop emerg | market | countri context appli help pinpoint |
| countri | tool origin develop emerg market | countri | context appli help pinpoint vulner |
| economi | appli help pinpoint vulner advanc | economi | cours begin current crisi show |
| need | cours begin current crisi show | need | improv understand crossbord spillov macrofinanci |
| countri | spillov macrofinanci linkag within across | countri | broader system risk global economi |
| global | across countri broader system risk | global | economi also point gap imf |
| economi | countri broader system risk global | economi | also point gap imf liquid |
| also | broader system risk global economi | also | point gap imf liquid provis |
| polici | tradit modal surveil basi much | polici | dialogu bilater examin impact econom |
| econom | polici dialogu bilater examin impact | econom | polici countri albeit prism extern |
| polici | dialogu bilater examin impact econom | polici | countri albeit prism extern stabil |
| countri | bilater examin impact econom polici | countri | albeit prism extern stabil henc |
| econom | flagship multilater surveil product world | econom | outlook global financi stabil report |
| global | surveil product world econom outlook | global | financi stabil report concern stabil |
| global | financi stabil report concern stabil | global | econom financi system scope greater |
| econom | stabil report concern stabil global | econom | financi system scope greater surveil |
| polici | financi system scope greater surveil | polici | spillov especi countri individu aggreg |
| countri | greater surveil polici spillov especi | countri | individu aggreg system import multilater |
| polici | action one attempt recent year | polici | coordin g framework strong sustain |
| growth | g framework strong sustain balanc | growth | mutual assess process suggest anyth |
| countri | anyth recent crisi rekindl interest | countri | take account multilater dimens set |
| polici | take account multilater dimens set | polici | imf alreadi undertak much under |
| need | undertak much under analyt work | need | consid best support effort includ |
| need | sector oversight crisi remind us | need | remind critic import financi sector |
| countri | lcfis exceed gdps mani member | countri | case countri clear cannot ignor |
| countri | gdps mani member countri case | countri | clear cannot ignor surveil activ |
| global | flow backdrop trend increas financi | global | current crisi underscor fickl capit |
| economi | domest vulner deleverag bank advanc | economi | inde real risk widespread financi |
| countri | politician sought ensur lend continu | countri | even bank tri restor capit |
| economi | opposit low interest rate advanc | economi | drive surg capit flow eme |
| countri | asset bubbl environ natur depend | countri | circumst capac macroeconom prudenti polici |
| polici | countri circumst capac macroeconom prudenti | polici | deal problem consid impos strengthen |
| countri | membership part surveil activ provid | countri | polici advic control inflow might |
| polici | part surveil activ provid countri | polici | advic control inflow might appropri |
| also | well underway multilater perspect would | also | underscor ensur order flow joint |
| need | ensur order flow joint respons | need | taken account polici choic capitalreceiv |
| polici | joint respons need taken account | polici | choic capitalreceiv capitalexport countri liquid |
| countri | account polici choic capitalreceiv capitalexport | countri | liquid provis lendingin addit surveil |
| market | clear would decoupl develop emerg | market | countri crisi would serious repercuss |
| countri | would decoupl develop emerg market | countri | crisi would serious repercuss countri |
| countri | countri crisi would serious repercuss | countri | far epicent first sdr alloc |
| financ | fcl provid signific amount conting | financ | ex post condit third formal |
| countri | formal high access precautionari arrang | countri | fcl would appropri could benefit |
| financ | would appropri could benefit conting | financ | fourth doubl normal financ access |
| financ | conting financ fourth doubl normal | financ | access limit fifth sought ensur |
| countri | strict limit measur critic success | countri | econom program elimin structur perform |
| econom | limit measur critic success countri | econom | program elimin structur perform criteria |
| global | time undoubt help contain sever | global | financi crisi like help staveoff |
| countri | ultim goal ensur reliabl sourc | countri | insur emerg market develop countri |
| market | reliabl sourc countri insur emerg | market | develop countri reduc need selfinsur |
| countri | countri insur emerg market develop | countri | reduc need selfinsur stockpil cost |
| need | emerg market develop countri reduc | need | selfinsur stockpil cost intern reserv |
| also | selfinsur stockpil cost intern reserv | also | begun reflect structur intern monetari |
| polici | downsid scenario realiz would result | polici | recommend differ under baselin scenario |
| also | ewe aim identifi countrylevel vulner | also | may translat system risk crossbord |
| also | speaker reflect import topic address | also | india grow role intens intern |
| global | intens intern collabor current underway | global | financi issu imf colleagu watch |
| econom | interest satisfact stride india made | econom | polici manag recent year reflect |
| polici | satisfact stride india made econom | polici | manag recent year reflect economi |
| economi | polici manag recent year reflect | economi | impress progress particular would like |
| polici | rbi adept handl monetari regulatori | polici | current financi crisi testimoni profession |
| growth | posit continu path strong inclus | growth | thank small part rbi stewardship |
| financ | stewardship address today focus import | financ | rapid sustain growth might consid |
| growth | focus import financ rapid sustain | growth | might consid topic odd light |
| polici | key lesson recent event appropri | polici | stanc toward financi innov mani |
| market | includ policymak india major emerg | market | conclud innov activ discourag would |
| global | despit unsettl even dramat recent | global | experi cut edg financ believ |
| financ | recent global experi cut edg | financ | believ without renew effort foster |
| global | renew effort foster financi innov | global | economi countri includ emerg market |
| economi | effort foster financi innov global | economi | countri includ emerg market economi |
| countri | foster financi innov global economi | countri | includ emerg market economi underperform |
| market | global economi countri includ emerg | market | economi underperform potenti princip challeng |
| economi | economi countri includ emerg market | economi | underperform potenti princip challeng policymak |
| need | deputi governor gopinath observ innov | need | pursu broader context financi stabil |
| need | correspond level matur financi system | need | real economi great stride alreadi |
| economi | matur financi system need real | economi | great stride alreadi made develop |
| countri | mobil phone bank implement around | countri | indic much system internet age |
| need | reason take pride yet much | need | done growth financi sectorther clear |
| growth | pride yet much need done | growth | financi sectorther clear connect econom |
| econom | growth financi sectorther clear connect | econom | growth state develop financi sector |
| growth | financi sectorther clear connect econom | growth | state develop financi sector speak |
| econom | last year bank mexico review | econom | literatur relationship financ econom growth |
| financ | mexico review econom literatur relationship | financ | econom growth time highlight mani |
| econom | review econom literatur relationship financ | econom | growth time highlight mani decad |
| growth | econom literatur relationship financ econom | growth | time highlight mani decad financi |
| econom | financi sector larg ignor theori | econom | growth fact sinc import role |
| growth | sector larg ignor theori econom | growth | fact sinc import role financi |
| economi | sector wide accept modern marketbas | economi | financi intermedi critic determin perform |
| economi | financi intermedi critic determin perform | economi | develop matur financi market accompani |
| market | perform economi develop matur financi | market | accompani infrastructur also evolv meet |
| also | matur financi market accompani infrastructur | also | evolv meet wide rang need |
| need | also evolv meet wide rang | need | household busi govern look forward |
| market | task first address challeng miss | market | longterm financ requir creat longliv |
| financ | address challeng miss market longterm | financ | requir creat longliv asset effici |
| market | product second deepen liquid exist | market | exampl reduc excess relianc narrow |
| economi | quantiti qualiti invest increas effici | economi | whole limit tradit bank systemsa |
| market | key challeng face mani emerg | market | heavi relianc tradit commerci bank |
| countri | system may adequ earli stage | countri | develop may act unintend constraint |
| growth | develop may act unintend constraint | growth | real economi becom complex demand |
| economi | act unintend constraint growth real | economi | becom complex demand financi servic |
| market | first absenc robust debt money | market | abil bank grow loan portfolio |
| need | bank well place meet signific | need | emerg develop countri longterm infrastructur |
| countri | meet signific need emerg develop | countri | longterm infrastructur financ size matur |
| financ | emerg develop countri longterm infrastructur | financ | size matur illiquid loan make |
| financ | make unsuit tradit commerci bank | financ | danger oper bank would take |
| economi | mirror under condit borrow local | economi | implic indiawhil india financi system |
| market | multifacet world class segment equiti | market | segment notabl corpor bond market |
| market | market segment notabl corpor bond | market | remain less develop limit size |
| market | limit size india debt capit | market | bank main sourc loan firm |
| need | household moreov india enorm infrastructur | need | infrastructur financ remain larg depend |
| financ | india enorm infrastructur need infrastructur | financ | remain larg depend bank financ |
| financ | financ remain larg depend bank | financ | attend inadequaci risk also import |
| also | bank financ attend inadequaci risk | also | import issu access credit financi |
| also | retain earn fund invest studi | also | found import ineffici debt financ |
| financ | also found import ineffici debt | financ | fact firm industri depend financ |
| financ | financ fact firm industri depend | financ | tend grow slowli lack financi |
| also | grow slowli lack financi instrument | also | limit firm abil manag risk |
| need | sever step taken meet grow | need | divers sourc financ notabl rbi |
| financ | meet grow need divers sourc | financ | notabl rbi undertaken import initi |
| need | plan fiscal space limit meet | need | prudent fashion requir develop capit |
| market | prudent fashion requir develop capit | market | especi develop longterm corpor bond |
| market | especi develop longterm corpor bond | market | india infrastructur financ corpor limit |
| financ | corpor bond market india infrastructur | financ | corpor limit iifcl establish mandat |
| market | fortun sever success model capit | market | develop emerg market growth corpor |
| market | model capit market develop emerg | market | growth corpor bond market mexico |
| growth | capit market develop emerg market | growth | corpor bond market mexico malaysia |
| market | emerg market growth corpor bond | market | mexico malaysia instanc close link |
| financ | pool save invest fund longterm | financ | howev liquid may need generat |
| need | longterm financ howev liquid may | need | generat way institut typic buyandhold |
| market | increas foreign particip local debt | market | would provid addit liquid robust |
| market | liquid robust price local bond | market | issu recent imf studi ten |
| market | recent imf studi ten emerg | market | suggest foreign particip lower borrow |
| market | investor india larg govern secur | market | would creat concern henc would |
| market | similar progress develop activ securit | market | consum small busi loan would |
| market | system wide note major emerg | market | avoid current problem experienc unit |
| economi | innov end wreak havoc advanc | economi | indirect rest world therefor avoid |
| market | rest world therefor avoid emerg | market | cost view howev financi crisi |
| economi | view howev financi crisi advanc | economi | primarili function asset securit general |
| growth | primarili function asset securit general | growth | securit capit market rather crisi |
| market | securit general growth securit capit | market | rather crisi reflect toxic mix |
| econom | risk reflect extend period except | econom | perform low market volatil poor |
| market | period except econom perform low | market | volatil poor govern risk manag |
| market | regulatori arrang adjust effect financi | market | develop supervis fail enforc standard |
| market | leverag appropri third rbi capit | market | regul foster robust financi sector |
| market | formal bank sector unit state | market | clear fundament under form securit |
| market | simpli inadequ underwrit standard mani | market | becom lax proper regul ultim |
| also | state socal shadow bank sector | also | highlight weak regulatori cooper construct |
| econom | instrument complex case lack clear | econom | function exot product reflect system |
| market | crisi reflect lack transpar product | market | princip exampl credit default swap |
| market | princip exampl credit default swap | market | enorm market develop almost entir |
| market | credit default swap market enorm | market | develop almost entir overthecount event |
| market | entir overthecount event key particip | market | simpli fail assess counterparti risk |
| global | europ financi institut expos disrupt | global | capit market weather crisi well |
| market | institut expos disrupt global capit | market | weather crisi well underlin import |
| econom | benefici effect galvan intern cooper | econom | policymak general specif seek build |
| global | policymak general specif seek build | global | financi system contribut strong sustain |
| growth | financi system contribut strong sustain | growth | g leader includ india prime |
| also | overhaul financi sector regulatori framework | also | establish financi stabil board india |
| polici | g leader imf prepar report | polici | option financi sector cover cost |
| countri | anticrisi fund modern financi systemsultim | countri | develop approach foster appropri use |
| market | like offer general suggest emerg | market | countri look realiz benefit financi |
| countri | offer general suggest emerg market | countri | look realiz benefit financi innov |
| market | fund pension fund vital securit | market | form stabl sophist investor base |
| also | risk taken institut regul supervis | also | must keep innov requir adequ |
| global | taken serious indian regul part | global | standard set process continu earli |
| market | resolut scheme inevit everi financi | market | financi firm eventu experi difficulti |
| polici | firm eventu experi difficulti key | polici | conclus highlight crisi effect resolut |
| market | becom troubl regim minim potenti | market | disrupt well dampen moral hazard |
| global | dampen moral hazard particular import | global | financi world deal crossbord dimens |
| global | take place develop conting plan | global | financi institut home host supervisor |
| global | continu play import role promot | global | growth especi emerg market develop |
| growth | play import role promot global | growth | especi emerg market develop countri |
| market | promot global growth especi emerg | market | develop countri current crisi provid |
| countri | growth especi emerg market develop | countri | current crisi provid import lesson |
| global | promot process share respons ensur | global | financi system evolv manner support |
| growth | manner support strong sustain balanc | growth | thank attent report committe financi |
| econom | mexico confer challeng strategi promot | econom | growth mexico citi mexico octob |
| growth | confer challeng strategi promot econom | growth | mexico citi mexico octob raghuram |
| growth | rajan luigi zingal financi depend | growth | american econom review hiroko oura |
| econom | zingal financi depend growth american | econom | review hiroko oura financi develop |
| growth | review hiroko oura financi develop | growth | india grow tiger cage imf |
| market | wp peiri foreign particip emerg | market | local currenc bond market imf |
| market | emerg market local currenc bond | market | imf work paper forthcom background |
| market | limit fii billion govern debt | market | bn corpor debt market fund |
| market | debt market bn corpor debt | market | fund advis merg limit current |
| market | limit current one corpor bond | market | littl util govern debt market |
| market | market littl util govern debt | market | close limit main help develop |
| market | main help develop govern bond | market | first instanc improv liquid market |
| market | market first instanc improv liquid | market | also provid benchmark corpor bond |
| also | first instanc improv liquid market | also | provid benchmark corpor bond market |
| market | also provid benchmark corpor bond | market | senior supervisor group risk manag |
| global | supervisor group risk manag lesson | global | bank crisi octob charl calomiri |
| econom | share view asia role new | econom | order past decad asia becom |
| global | decad asia becom major player | global | economi today asia lead world |
| economi | asia becom major player global | economi | today asia lead world term |
| econom | today asia lead world term | econom | recoveri crisi come decad region |
| econom | dynam give even greater role | econom | power grow asia interest promot |
| global | asia interest promot success perform | global | economi region enhanc role global |
| economi | interest promot success perform global | economi | region enhanc role global polici |
| global | global economi region enhanc role | global | polici debat see great potenti |
| polici | economi region enhanc role global | polici | debat see great potenti world |
| also | group emin person across region | also | seek strengthen tie region group |
| econom | cohost highlevel confer focus region | econom | dynam believ asia leadership role |
| countri | crucial year first year crisi | countri | lift eye longer termhorizon year |
| financ | risk especi financi sector develop | financ | instrument provid kind insur need |
| need | financ instrument provid kind insur | need | tackl modern crise say transform |
| global | set backdrop present imf view | global | econom outlook second highlight key |
| econom | backdrop present imf view global | econom | outlook second highlight key prioriti |
| global | key prioriti build stronger postcrisi | global | economi third share thought asian |
| economi | prioriti build stronger postcrisi global | economi | third share thought asian leadership |
| need | asian leadership help bring chang | need | secur success new econom order |
| econom | chang need secur success new | econom | order global econom outlookbegin outlook |
| global | secur success new econom order | global | econom outlookbegin outlook global recoveri |
| econom | success new econom order global | econom | outlookbegin outlook global recoveri appear |
| global | order global econom outlookbegin outlook | global | recoveri appear stronger previous anticip |
| growth | appear stronger previous anticip expect | growth | exceed previous project percent updat |
| economi | differ speed various region advanc | economi | like sluggish still depend govern |
| polici | major concern especi europ u | polici | support maintain clear sign recoveri |
| growth | sign recoveri privat demand employ | growth | also tackl job crisi govern |
| also | recoveri privat demand employ growth | also | tackl job crisi govern shift |
| market | spend support employ turn emerg | market | economi outlook consider better said |
| economi | support employ turn emerg market | economi | outlook consider better said recoveri |
| econom | thank resili domest demand sound | econom | framework swift polici respons crisi |
| polici | demand sound econom framework swift | polici | respons crisi asia region exclud |
| growth | crisi asia region exclud japan | growth | like exceed percent year forecast |
| market | last octob mean mani emerg | market | economi abl exit crisi support |
| economi | octob mean mani emerg market | economi | abl exit crisi support measur |
| economi | crisi support measur sooner advanc | economi | monetari tighten general preced fiscal |
| econom | preced fiscal tighten differ speed | econom | recoveri reflect perform financi market |
| market | econom recoveri reflect perform financi | market | know resurg capit flow emerg |
| market | know resurg capit flow emerg | market | asia receiv larg part flow |
| economi | primarili fundament reflect favor outlook | economi | expect futur currenc appreci also |
| also | economi expect futur currenc appreci | also | play role return capit emerg |
| market | play role return capit emerg | market | general posit develop let us |
| countri | revers understand howev policymak recipi | countri | concern manag flow impact exchang |
| countri | respond surg capit flow mani | countri | exchang rate appreci key respons |
| polici | rate undervalu base mediumterm consider | polici | includ lower interest rate accumul |
| polici | rate accumul reserv tighten fiscal | polici | prudenti polici financi sector capit |
| polici | reserv tighten fiscal polici prudenti | polici | financi sector capit control also |
| also | polici financi sector capit control | also | play role particular surg capit |
| polici | rate overshoot real danger right | polici | mix cours depend countri circumst |
| countri | right polici mix cours depend | countri | circumst see pragmat issu ii |
| global | pragmat issu ii build stronger | global | economyturn second issu build stronger |
| global | economyturn second issu build stronger | global | economi let begin financi sector |
| economi | second issu build stronger global | economi | let begin financi sector reform |
| global | worldwid progress area critic build | global | economi less prone crise futur |
| economi | progress area critic build global | economi | less prone crise futur lesson |
| need | smarter closer scrutini financi firm | need | institut level also need signific |
| also | financi firm need institut level | also | need signific better monitor manag |
| need | firm need institut level also | need | signific better monitor manag system |
| market | achiev last reform first financi | market | economi recov real danger polit |
| economi | last reform first financi market | economi | recov real danger polit momentum |
| growth | ahead asia good new sourc | growth | need world economi ensur robust |
| need | asia good new sourc growth | need | world economi ensur robust global |
| economi | new sourc growth need world | economi | ensur robust global economi mean |
| global | need world economi ensur robust | global | economi mean first foremost strong |
| economi | world economi ensur robust global | economi | mean first foremost strong growth |
| growth | economi mean first foremost strong | growth | must restor requir rekindl privat |
| countri | requir rekindl privat demand mani | countri | structur reform need particular labor |
| need | demand mani countri structur reform | need | particular labor product market reform |
| market | reform need particular labor product | market | reform boost product speed transit |
| economi | speed transit effort boost green | economi | also support restructur effort second |
| also | transit effort boost green economi | also | support restructur effort second goal |
| growth | support restructur effort second goal | growth | sustain restor sustain privat demand |
| need | sustain privat demand consumpt invest | need | sure requir deal pend fiscal |
| global | deal pend fiscal challeng third | global | growth balanc happen econom polici |
| growth | pend fiscal challeng third global | growth | balanc happen econom polici must |
| econom | third global growth balanc happen | econom | polici must consist healthi extern |
| polici | global growth balanc happen econom | polici | must consist healthi extern posit |
| polici | sound fiscal monetari exchang rate | polici | also avoid domest market distort |
| also | fiscal monetari exchang rate polici | also | avoid domest market distort achiev |
| market | rate polici also avoid domest | market | distort achiev countri need play |
| countri | avoid domest market distort achiev | countri | need play part countri tradit |
| need | domest market distort achiev countri | need | play part countri tradit run |
| countri | achiev countri need play part | countri | tradit run larg current account |
| need | larg current account deficit recogn | need | rais save often privat public |
| countri | percent could rise even higher | countri | tradit run larg current account |
| growth | account surplus reli heavili exportl | growth | recogn new growth driver countri |
| growth | heavili exportl growth recogn new | growth | driver countri need found china |
| countri | growth recogn new growth driver | countri | need found china exampl govern |
| need | recogn new growth driver countri | need | found china exampl govern take |
| growth | boost privat consumpt major shift | growth | pattern easili achiev certain overnight |
| global | come year winwin situat sustain | global | growth c stronger intern polici |
| growth | year winwin situat sustain global | growth | c stronger intern polici collaborationfor |
| polici | global growth c stronger intern | polici | collaborationfor econom transform success intern |
| econom | c stronger intern polici collaborationfor | econom | transform success intern polici collabor |
| polici | collaborationfor econom transform success intern | polici | collabor need effect recent experi |
| need | transform success intern polici collabor | need | effect recent experi deal crisi |
| econom | world pull togeth respond profound | econom | potenti human calam govern work |
| economi | emerg key forum world major | economi | discuss polici prioriti prioriti taken |
| polici | forum world major economi discuss | polici | prioriti prioriti taken forward imf |
| need | member provid broadbas intern endors | need | make truli global spirit commit |
| global | intern endors need make truli | global | spirit commit much alreadi achiev |
| polici | alreadi achiev term strengthen intern | polici | dialogu must even g new |
| economi | import step process world largest | economi | account adopt polici need ensur |
| polici | world largest economi account adopt | polici | need ensur strong stabl sustain |
| need | largest economi account adopt polici | need | ensur strong stabl sustain growth |
| growth | need ensur strong stabl sustain | growth | medium term imf provid analyt |
| global | new framework one key transform | global | economi beyond let also add |
| economi | framework one key transform global | economi | beyond let also add one |
| also | transform global economi beyond let | also | add one issu immens import |
| need | meet copenhagen larg amount resourc | need | financ adapt mitig effort financ |
| financ | copenhagen larg amount resourc need | financ | adapt mitig effort financ complex |
| financ | need financ adapt mitig effort | financ | complex subject requir highest level |
| econom | solut iii asia role new | econom | ordermi final import topic today |
| econom | topic today asia role new | econom | order transform taken place asia |
| growth | last decad truli remark rapid | growth | rais region share global economi |
| global | rapid growth rais region share | global | economi third allow hundr million |
| economi | growth rais region share global | economi | third allow hundr million escap |
| economi | million escap poverti strength asia | economi | help weather recent crisi lead |
| growth | lead world recoveri continu strong | growth | potenti lift billion peopl poverti |
| global | potenti lift billion peopl poverti | global | economi sustain perform asia like |
| economi | lift billion peopl poverti global | economi | sustain perform asia like rest |
| need | perform asia like rest world | need | adapt new challeng present postcrisi |
| economi | adapt new challeng present postcrisi | economi | convers asian leader tell imper |
| econom | element new model deliv sustain | econom | growth particular realiz limit pace |
| growth | new model deliv sustain econom | growth | particular realiz limit pace export |
| growth | particular realiz limit pace export | growth | domest region demand need play |
| need | export growth domest region demand | need | play increas import role underpin |
| growth | increas import role underpin asia | growth | mean asia becom inward look |
| growth | boost intraregion trade recalibr asia | growth | model region selfinterest sinc would |
| also | demand outsid asia indic previous | also | global interest recalibr look like |
| global | outsid asia indic previous also | global | interest recalibr look like mani |
| economi | recalibr look like mani asian | economi | step public invest import part |
| need | solut asia signific longterm develop | need | includ infrastructur educ invest lowcarbon |
| growth | infrastructur educ invest lowcarbon green | growth | would also use technolog innov |
| also | invest lowcarbon green growth would | also | use technolog innov key manag |
| growth | consumpt essenti develop new sourc | growth | region longterm success also depend |
| also | sourc growth region longterm success | also | depend critic activ particip asian |
| global | nation intern effort build stronger | global | economi asia economi risen global |
| economi | intern effort build stronger global | economi | asia economi risen global statur |
| economi | build stronger global economi asia | economi | risen global statur voic intern |
| global | global economi asia economi risen | global | statur voic intern stage respons |
| global | stage respons help find solut | global | polici challeng mention asia repres |
| polici | respons help find solut global | polici | challeng mention asia repres g |
| countri | mention asia repres g six | countri | know asia host g leader |
| econom | rise govern reform proceed asia | econom | voic reflect quota imf brought |
| global | quota imf brought line weight | global | economi time asia use stronger |
| economi | imf brought line weight global | economi | time asia use stronger voic |
| global | voic contribut even shape postcrisi | global | econom landscap potenti histor moment |
| econom | contribut even shape postcrisi global | econom | landscap potenti histor moment asia |
| market | come period year humil confid | market | institut status quo turn complac |
| global | must year transform must complet | global | project address fail regul econom |
| econom | global project address fail regul | econom | polici govern lay behind crisi |
| polici | project address fail regul econom | polici | govern lay behind crisi challeng |
| econom | togeth confid find way secur | econom | success asia world thank |
| global | understand intern cooper serv common | global | goal understand motiv architect intern |
| global | fund inspir fund work today | global | financi crisi underlin pain way |
| global | financi crisi underlin pain way | global | economi fact know well problem |
| economi | crisi underlin pain way global | economi | fact know well problem well |
| market | well narrow segment u hous | market | metastas serious global downturn sinc |
| global | u hous market metastas serious | global | downturn sinc great depress onset |
| countri | crisi shock respons unpreced illumin | countri | descript could respond crisi turn |
| polici | new resourc result coher power | polici | respons help halt global economi |
| global | power polici respons help halt | global | economi downward spiral set stage |
| economi | polici respons help halt global | economi | downward spiral set stage recoveri |
| countri | implement past year could waver | countri | pull differ direct face differ |
| need | pull differ direct face differ | need | challeng ensur policymak continu embrac |
| global | collabor action requir govern structur | global | econom policymak recogn vital role |
| econom | action requir govern structur global | econom | policymak recogn vital role dynam |
| market | recogn vital role dynam emerg | market | countri thus asia pois play |
| countri | vital role dynam emerg market | countri | thus asia pois play lead |
| global | asia pois play lead role | global | econom stage postcrisi economi includ |
| econom | pois play lead role global | econom | stage postcrisi economi includ help |
| economi | role global econom stage postcrisi | economi | includ help guid global economi |
| global | postcrisi economi includ help guid | global | economi crisi toward new sustain |
| economi | economi includ help guid global | economi | crisi toward new sustain growth |
| growth | economi crisi toward new sustain | growth | model econom outlookfirst would like |
| econom | toward new sustain growth model | econom | outlookfirst would like state clear |
| global | like state clear imf view | global | econom outlook fund world econom |
| econom | state clear imf view global | econom | outlook fund world econom outlook |
| econom | global econom outlook fund world | econom | outlook forecast anticip global growth |
| global | world econom outlook forecast anticip | global | growth reach percent follow declin |
| growth | econom outlook forecast anticip global | growth | reach percent follow declin percent |
| global | despit general improv data howev | global | economi still lack typic postdownturn |
| economi | general improv data howev global | economi | still lack typic postdownturn growth |
| growth | economi still lack typic postdownturn | growth | momentum serv build confid sustain |
| economi | sustain recoveri especi true advanc | economi | mani economi high stillris unemploy |
| economi | especi true advanc economi mani | economi | high stillris unemploy coupl anem |
| growth | stillris unemploy coupl anem incom | growth | limit consumpt gain weaken household |
| market | inventori fact strike recent financi | market | strain underscor easili investor could |
| growth | sharp downward revis third quarter | growth | figur domest demand especi busi |
| growth | weak imf anticip japan annual | growth | figur turn posit export invest |
| growth | take fiscal stimulus main driver | growth | polici respons maintain support plan |
| polici | fiscal stimulus main driver growth | polici | respons maintain support plan exitth |
| econom | plan exitth import implic outlook | econom | polici earli begin general withdraw |
| polici | exitth import implic outlook econom | polici | earli begin general withdraw macroeconom |
| polici | earli begin general withdraw macroeconom | polici | support mani well awar import |
| need | lost decad time decis action | need | substanti weak emerg second lesson |
| need | coher exit plan would give | need | boost confid enhanc effect current |
| polici | import lesson clear communic exit | polici | bank japan begin support relat |
| economi | underway top prioriti especi advanc | economi | fiscal challeng ahead formid imf |
| economi | project indic govern debt advanc | economi | reach near percent gdp circumst |
| economi | percent gdp circumst whittl advanc | economi | govern debt level consist strong |
| growth | level consist strong sustain longterm | growth | would requir larg structur fiscal |
| need | point gdp restor confid taxpay | need | convinc stimulus measur temporari time |
| polici | measur temporari time adjust fiscal | polici | must contend demograph forc ad |
| polici | simpl either design implement monetari | polici | typic adapt readili discretionari budget |
| polici | typic adapt readili discretionari budget | polici | chang circumst general inflationari pressur |
| economi | general inflationari pressur absent advanc | economi | time monetari polici like remain |
| polici | absent advanc economi time monetari | polici | like remain accommod time especi |
| economi | accommod time especi mani advanc | economi | exit strategi also need encompass |
| also | mani advanc economi exit strategi | also | need encompass various measur put |
| need | advanc economi exit strategi also | need | encompass various measur put place |
| global | move beyond exit strategi much | global | polici discuss focus understand withdraw |
| polici | beyond exit strategi much global | polici | discuss focus understand withdraw extraordinari |
| polici | focus understand withdraw extraordinari expansionari | polici | undertaken wake crisi debat regard |
| global | withdraw rather encompass restor sustain | global | growth precrisi year avoid polici |
| growth | rather encompass restor sustain global | growth | precrisi year avoid polici mistak |
| polici | global growth precrisi year avoid | polici | mistak ignit crisi context would |
| market | return rapid capit inflow emerg | market | economi second futur sourc global |
| economi | rapid capit inflow emerg market | economi | second futur sourc global growth |
| global | market economi second futur sourc | global | growth resolv asia play crucial |
| growth | economi second futur sourc global | growth | resolv asia play crucial role |
| countri | part differ pace recoveri across | countri | region asia lead way crisi |
| econom | asia lead way crisi asia | econom | polici general right track absent |
| polici | lead way crisi asia econom | polici | general right track absent debtfinanc |
| polici | toxic asset run prudent fiscal | polici | good time mani countri fiscal |
| countri | fiscal polici good time mani | countri | fiscal space support demand crisi |
| global | fundament asia quick bounc back | global | trade began normal recent month |
| growth | month fund forecast anticip asia | growth | reach  ¾ percent next |
| global | ¾ percent next year well | global | averag combin reduc investor fear |
| market | rapid recoveri improv perform emerg | market | encourag investor rapid revers sudden |
| market | capit flow unfold short span | market | cycl boom bust least partial |
| economi | partial boom interest rate advanc | economi | like remain low extend period |
| economi | capit flow relat sluggish advanc | economi | fastergrow emerg market light current |
| market | sluggish advanc economi fastergrow emerg | market | light current surg simpli may |
| polici | volatil capit inflow present signific | polici | challeng potenti lead exchang rate |
| polici | price bubbl financi instabl recommend | polici | respons surg capit inflow pragmat |
| countri | inflow pragmat question matter ideolog | countri | sever polici option mani countri |
| polici | question matter ideolog countri sever | polici | option mani countri exchang rate |
| countri | countri sever polici option mani | countri | exchang rate appreci key polici |
| polici | countri exchang rate appreci key | polici | respons case tighter fiscal polici |
| polici | polici respons case tighter fiscal | polici | steril intervent reserv accumul use |
| need | financi sector structur reform may | need | address under problem capit control |
| also | address under problem capit control | also | repres option deal sudden surg |
| need | use paper real problem avoid | need | polici adjust openmind tool limit |
| polici | paper real problem avoid need | polici | adjust openmind tool limit imf |
| global | specif circumst biggest challeng restor | global | growth exportl strategi serv asia |
| growth | circumst biggest challeng restor global | growth | exportl strategi serv asia well |
| growth | exportl strategi serv asia well | growth | model may past prime particular |
| growth | us consum demand regain precrisi | growth | pace restor sustain global growth |
| global | precrisi growth pace restor sustain | global | growth sourc global expans therefor |
| growth | growth pace restor sustain global | growth | sourc global expans therefor need |
| global | restor sustain global growth sourc | global | expans therefor need shift challeng |
| need | growth sourc global expans therefor | need | shift challeng recogn clear g |
| growth | g framework strong sustain balanc | growth | goal establish coher approach transit |
| growth | first foremost framework compon strong | growth | must restor reduc current elev |
| econom | restor reduc current elev level | econom | slack particular unemploy achiev goal |
| countri | requir rekindl privat demand mani | countri | structur reform might need especi |
| need | mani countri structur reform might | need | especi given potenti longterm damag |
| economi | potenti longterm damag inflict crisi | economi | suppli capac environ labor product |
| market | suppli capac environ labor product | market | reform could boost product speed |
| economi | speed transit effort boost green | economi | might also support restructur effort |
| also | effort boost green economi might | also | support restructur effort second goal |
| growth | support restructur effort second goal | growth | sustain adequ resourc requir restor |
| growth | requir restor sustain privat demand | growth | encompass consumpt invest sure requir |
| global | deal pend fiscal challeng third | global | growth balanc mean current account |
| growth | pend fiscal challeng third global | growth | balanc mean current account deficit |
| growth | account deficit surplus inher danger | growth | equal across countri larg payment |
| countri | inher danger growth equal across | countri | larg payment imbal could reflect |
| polici | payment imbal could reflect under | polici | problem includ outsiz fiscal deficit |
| polici | fiscal deficit over accommod monetari | polici | domest market distort inappropri exchang |
| market | over accommod monetari polici domest | market | distort inappropri exchang rate polici |
| polici | market distort inappropri exchang rate | polici | countri tradit run larg current |
| countri | distort inappropri exchang rate polici | countri | tradit run larg current account |
| growth | account surplus reli heavili exportl | growth | need shift growth engin toward |
| need | surplus reli heavili exportl growth | need | shift growth engin toward domest |
| growth | heavili exportl growth need shift | growth | engin toward domest demand shift |
| global | stabl intern monetari system sustain | global | growth model achiev countri must |
| growth | intern monetari system sustain global | growth | model achiev countri must play |
| countri | sustain global growth model achiev | countri | must play part howev mean |
| growth | linkag open remain heart asia | growth | model instead mean asia would |
| polici | instead mean asia would benefit | polici | support consumpt invest appropri polici |
| polici | polici support consumpt invest appropri | polici | vari across countri mani case |
| countri | invest appropri polici vari across | countri | mani case includ steppedup public |
| countri | infrastructur hold tremend promis asian | countri | cut edg infrastructur develop elsewher |
| growth | educ import prioriti invest green | growth | technolog could provid welcom boost |
| growth | light japanes govern commit rebal | growth | away export toward domest sourc |
| growth | mere percent annual sinc onefifth | growth | rate export regist period natur |
| growth | regist period natur discuss rebalanc | growth | inevit touch issu exchang rate |
| polici | inevit touch issu exchang rate | polici | base analysi mani asian countri |
| countri | polici base analysi mani asian | countri | currenc undervalu relat major trade |
| global | valu long condit persist balanc | global | growth difficult achiev polici analyz |
| growth | long condit persist balanc global | growth | difficult achiev polici analyz broad |
| polici | balanc global growth difficult achiev | polici | analyz broad context seem inevit |
| countri | increas currenc flexibl mani asian | countri | includ china form part rebalanc |
| countri | part rebalanc effort obvious deficit | countri | contribut import rebalanc process countri |
| countri | countri contribut import rebalanc process | countri | includ unit state fiscal consolid |
| also | consolid imper financi sector reform | also | part effort broad agreement must |
| also | financi institut oper multipl jurisdict | also | part solut increas attent direct |
| polici | fund help ensur implement effect | polici | collabor role imfseen broad realli |
| global | challeng sustain spirit collabor hallmark | global | econom policymak past year effect |
| econom | sustain spirit collabor hallmark global | econom | policymak past year effect anticrisi |
| global | effect anticrisi measur amplifi simultan | global | prospect would improv notabl policymak |
| polici | creat innov process mutual assess | polici | center share object effect would |
| global | effect would signal seismic shift | global | govern fund play key role |
| polici | institut provid analyt underpin g | polici | discuss general global leader turn |
| global | underpin g polici discuss general | global | leader turn fund play import |
| countri | general becom flexibl better tailor | countri | circumst fund call play construct |
| global | inject billion special draw right | global | economi form increas offici reserv |
| economi | billion special draw right global | economi | form increas offici reserv asset |
| need | prevent facil time manner scale | need | continu enhanc surveil effort bilater |
| countri | prevent key risk go forward | countri | learn wrong lesson conclud need |
| need | countri learn wrong lesson conclud | need | selfinsur global capit market volatil |
| global | wrong lesson conclud need selfinsur | global | capit market volatil aggress build |
| market | conclud need selfinsur global capit | market | volatil aggress build intern reserv |
| growth | approach would perpetu inbal stunt | growth | hope improv crisisprevent facil member |
| market | share toward dynam underrepres emerg | market | develop countri complet januari complex |
| countri | dynam underrepres emerg market develop | countri | complet januari complex endeavor involv |
| global | repres landmark achiev shift postcrisi | global | economi role asiafin would like |
| economi | landmark achiev shift postcrisi global | economi | role asiafin would like speak |
| economi | like speak asia role postcrisi | economi | six member g region solid |
| global | region solid platform contribut reshap | global | econom financi architectur notabl japan |
| econom | solid platform contribut reshap global | econom | financi architectur notabl japan first |
| countri | financi architectur notabl japan first | countri | provid extra resourc imf sens |
| econom | anticrisi fund one world lead | econom | power japan help shape multilater |
| global | leader summit asia assum larger | global | role also face region challeng |
| also | asia assum larger global role | also | face region challeng asia compris |
| economi | challeng asia compris wide rang | economi | industri power japan rise giant |
| also | japan rise giant china india | also | newli industri economi larg number |
| economi | china india also newli industri | economi | larg number lowincom economi moreov |
| economi | industri economi larg number lowincom | economi | moreov asia trade relat shift |
| also | increas sourc final demand neighbor | also | competitor global market context region |
| global | final demand neighbor also competitor | global | market context region requir econom |
| market | demand neighbor also competitor global | market | context region requir econom monetari |
| econom | global market context region requir | econom | monetari polici framework includ regard |
| polici | context region requir econom monetari | polici | framework includ regard exchang rate |
| growth | arrang help ensur strong sustain | growth | notabl prime minist hatoyama signal |
| financ | alreadi provid import complement imf | financ | import stand major turn point |
| global | import stand major turn point | global | govern econom develop valu broad |
| econom | major turn point global govern | econom | develop valu broad multilater collabor |
| econom | valu broad multilater collabor cooper | econom | financi policymak clearer today time |
| global | leadership role play help guid | global | economi toward new revit global |
| economi | role play help guid global | economi | toward new revit global growth |
| global | global economi toward new revit | global | growth model challeng daunt opportun |
| growth | economi toward new revit global | growth | model challeng daunt opportun creat |
| growth | support financi sector reestablish sustain | growth | price stabil sound public financ |
| financ | growth price stabil sound public | financ | creat stabl resili financi system |
| financ | intervent financi sector manag public | financ | aspect unwind topic cover includ |
| countri | central bank balanc sheet advanc | countri | togeth ecb increas averag percentag |
| countri | time govern balanc sheet advanc | countri | increas averag percentag point gdp |
| polici | balanc sheet requir substanti sustain | polici | effort particular unwind monetari fiscal |
| polici | effort particular unwind monetari fiscal | polici | need place govern debt sustain |
| need | particular unwind monetari fiscal polici | need | place govern debt sustain path |
| econom | grow privat credit demand support | econom | recoveri low interest rate far |
| growth | rate far mute impact dramat | growth | govern debt signific increas interest |
| polici | vulner clear focus unconvent monetari | polici | measur eventu unwound privat sector |
| financ | time grow govern debt burden | financ | need rais possibl crowd moreov |
| need | grow govern debt burden financ | need | rais possibl crowd moreov advers |
| need | conting liabil stillincreas govern debt | need | manag strategi asset dispos withdraw |
| market | public intervent cours evolut financi | market | condit includ trend sovereign credit |
| polici | account could help manag fiscal | polici | unwind process exampl quasifisc activ |
| also | well purchas asset assumpt liabil | also | give rise sequenc issu key |
| market | may work best take advantag | market | incent ideal distortioninduc redund measur |
| polici | unwind therefor provid import guid | polici | action anoth import general consider |
| need | action anoth import general consider | need | maintain coher unwind strategi across |
| countri | maintain coher unwind strategi across | countri | coordin issu could influenc capit |
| financ | public intervent financi sector public | financ | aspect unwind indic guid liquid |
| countri | prepar deliveri vulner cee | countri | built long time took unusu |
| polici | unusu combin extern shock domest | polici | mistak lead crisi rapid capit |
| countri | macroeconom structur vulner new member | countri | vulner pronounc countri fix exchang |
| countri | new member countri vulner pronounc | countri | fix exchang rate even fewer |
| polici | fix exchang rate even fewer | polici | instrument floater tri counteract sever |
| market | shock combin dri intern interbank | market | falter export demand hit region |
| countri | falter export demand hit region | countri | suffer still fare better other |
| countri | better other background clear least | countri | innoc bystand domest polici made |
| polici | least countri innoc bystand domest | polici | made vulner other polici mistak |
| polici | domest polici made vulner other | polici | mistak call includ among other |
| also | advanc europ cours outsid world | also | blame euphoria rapid growth felt |
| growth | world also blame euphoria rapid | growth | felt lesson learnt earlier crise |
| countri | imfeu balanc support program one | countri | poland less vulner decid avail |
| market | fcl therebi reassur intern capit | market | liquid remain assur imf initi |
| countri | fast effici later develop reflect | countri | specif issu octob hungari crisi |
| also | similar approach led rapid disburs | also | latvia romania countri face crise |
| countri | rapid disburs also latvia romania | countri | face crise short thereaft particular |
| countri | initi disburs develop three crisi | countri | differ signific initi develop hungari |
| also | signific initi develop hungari most | also | romania tend toward stabil dramat |
| econom | delay sever month result deepen | econom | crisi lack full polici support |
| polici | deepen econom crisi lack full | polici | support necessari reform measur credibl |
| countri | reform measur credibl program stabil | countri | stake somewhat differ appreci risk |
| also | involv coordin among program partner | also | difficult would stress open communic |
| countri | face immedi bop crisi time | countri | remain vulner second wave program |
| countri | crisi resolut program solv problem | countri | face recognit reform condit initi |
| countri | import reform step facilit accept | countri | therebi made process easier author |
| also | easier author initi pursu imf | also | play key role european bank |
| countri | process ensur bop sustain crise | countri | develop sinc forum ensur privat |
| also | debt roll credit crisi avoid | also | broader bank relat issu discuss |
| countri | relat issu discuss home host | countri | imf paid close attent social |
| global | protect poor lowincom earner impact | global | crisi better target expenditur hungari |
| countri | romania crossroad initi stabil crisi | countri | need follow suffici structur reform |
| need | crossroad initi stabil crisi countri | need | follow suffici structur reform allow |
| need | earlier vulner follow success date | need | look forward step need ensur |
| need | date need look forward step | need | ensur longerterm success step differ |
| countri | ensur longerterm success step differ | countri | includ latvia romania still long |
| need | success implement avoid reform fatigu | need | top interest hungari poland need |
| need | need top interest hungari poland | need | reflect whether maintain support stabil |
| countri | argument either way near crisi | countri | challeng equal high need decid |
| need | crisi countri challeng equal high | need | decid whether get protect program |
| global | forward allow old vulner reemerg | global | liquid ampl suppli danger reform |
| polici | high avoid similar trap foremost | polici | maker mind import put place |
| polici | maker mind import put place | polici | framework foster resumpt converg yet |
| polici | avoid imbal overh main element | polici | framework still design see key |
| also | risk rapid grow environ work | also | need area taxat avoid procycl |
| need | rapid grow environ work also | need | area taxat avoid procycl bias |
| need | procycl bias revenu final effort | need | also western european countri put |
| also | bias revenu final effort need | also | western european countri put place |
| countri | effort need also western european | countri | put place safeguard avoid bank |
| market | put place safeguard avoid bank | market | particip take excess risk cee |
| countri | particip take excess risk cee | countri | imf cautious optimist worst yet |
| econom | morn address key challeng face | econom | financi policymak begin latest data |
| econom | policymak begin latest data suggest | econom | recoveri underway albeit moder pace |
| global | pace imf latest forecast anticip | global | growth reach slight percent declin |
| growth | imf latest forecast anticip global | growth | reach slight percent declin percent |
| polici | standard nonetheless reflect bold rapid | polici | respons deliv past year amidst |
| polici | deliv past year amidst intens | polici | cooper spearhead innov g leader |
| polici | met unpreced challeng unpreced anticrisi | polici | responsesdespit general improv data also |
| also | polici responsesdespit general improv data | also | wide recogn recoveri prospect mani |
| economi | recogn recoveri prospect mani advanc | economi | remain potenti vulner mani economi |
| economi | economi remain potenti vulner mani | economi | high stillris unemploy coupl anem |
| growth | stillris unemploy coupl anem incom | growth | limit expect consumpt gain weaken |
| polici | imf emphas import sustain support | polici | measur alreadi plan come quarter |
| growth | alreadi plan come quarter cours | growth | emerg economi remain posit even |
| economi | come quarter cours growth emerg | economi | remain posit even global downturn |
| global | emerg economi remain posit even | global | downturn although specif circumst face |
| economi | specif circumst face g emerg | economi | vari signific exampl outlook energi |
| economi | exampl outlook energi export g | economi | reflect shift global energi market |
| global | export g economi reflect shift | global | energi market moreov challeng time |
| market | economi reflect shift global energi | market | moreov challeng time emerg economi |
| economi | market moreov challeng time emerg | economi | resist risk overh broad chanc |
| global | overh broad chanc restor sustain | global | growth signific enhanc polici cooper |
| growth | broad chanc restor sustain global | growth | signific enhanc polici cooper help |
| polici | sustain global growth signific enhanc | polici | cooper help halt spread crisi |
| global | measur implement year amplifi simultan | global | prospect would improv notabl policymak |
| polici | creat innov process mutual assess | polici | center around share object general |
| global | intend address key challeng face | global | economi creativ cooper manner stocktak |
| economi | address key challeng face global | economi | creativ cooper manner stocktak develop |
| polici | canada key question remain like | polici | effort succeed bolster prospect global |
| global | polici effort succeed bolster prospect | global | recoveri cours simpl answer success |
| polici | success depend upon combin appropri | polici | initi normal heal econom cycl |
| econom | appropri polici initi normal heal | econom | cycl depth complex crisi suggest |
| market | sector reform capit flow emerg | market | conclud remark imf role rapid |
| polici | general exit accommod monetari fiscal | polici | instead withdraw stimulus await clearcut |
| economi | underway top prioriti especi advanc | economi | first need insur stimulus measur |
| need | prioriti especi advanc economi first | need | insur stimulus measur perceiv temporari |
| need | entitl reform revenu adjust like | need | degre virtual advanc economi cours |
| economi | like need degre virtual advanc | economi | cours none straightforward easi either |
| polici | easi either design implement monetari | polici | typic adapt easili chang circumst |
| polici | general inflationari pressur appear monetari | polici | remain accommod time especi mani |
| economi | accommod time especi mani advanc | economi | note earlier emerg economi face |
| economi | advanc economi note earlier emerg | economi | face differ challeng sever case |
| polici | differ challeng sever case monetari | polici | might need adjust sooner exit |
| need | sever case monetari polici might | need | adjust sooner exit strategi also |
| also | need adjust sooner exit strategi | also | encompass various crisi measur introduc |
| also | unintend crossbord impact cours measur | also | need consist financi sector reform |
| need | crossbord impact cours measur also | need | consist financi sector reform discuss |
| global | stimulus rather encompass restor favor | global | growth inflat perform avoid specif |
| growth | rather encompass restor favor global | growth | inflat perform avoid specif system |
| global | specif system weak derail best | global | perform mani decad context g |
| growth | endors framework strong sustain balanc | growth | aim establish coher approach transit |
| growth | relev issu first foremost strong | growth | must restor current elev level |
| economi | current elev level slack advanc | economi | particular high unemploy rate reduc |
| countri | cautious withdraw stimulus mean mani | countri | structur reform like need especi |
| need | mani countri structur reform like | need | especi given potenti longterm damag |
| economi | potenti longterm damag inflict crisi | economi | suppli capac environ labor product |
| market | suppli capac environ labor product | market | reform could boost product speed |
| growth | speed transit toward new sourc | growth | effort boost green economi potenti |
| economi | sourc growth effort boost green | economi | potenti could play support role |
| growth | support role effort second goal | growth | sustain cours anoth broad term |
| need | idea clear straightforward suffici space | need | reserv adequ privat demand growth |
| growth | need reserv adequ privat demand | growth | includ consumpt invest sure requir |
| growth | deploy end crisi strong sustain | growth | critic deal upcom fiscal polici |
| polici | growth critic deal upcom fiscal | polici | challeng without doubt task establish |
| polici | establish confid mediumterm appropri fiscal | polici | requir larg scale difficult sustain |
| economi | indic govern debt advanc g | economi | hit near percent gdp case |
| financ | would requir structur improv public | financ | percentag point gdp even effort |
| global | specifi g framework third goal | global | growth balanc implic current account |
| growth | g framework third goal global | growth | balanc implic current account deficit |
| growth | surplus matter inher deleteri destabil | growth | rate equal across economi rather |
| economi | destabil growth rate equal across | economi | rather persist larg payment imbal |
| polici | larg payment imbal indic under | polici | challeng outsiz fiscal deficit over |
| polici | fiscal deficit over accommod monetari | polici | domest market distort inappropri exchang |
| market | over accommod monetari polici domest | market | distort inappropri exchang rate polici |
| polici | market distort inappropri exchang rate | polici | moreov us rate household save |
| growth | seem reason assum us consumpt | growth | slow transit relat precrisi growth |
| growth | growth slow transit relat precrisi | growth | pace thus sourc global expans |
| global | precrisi growth pace thus sourc | global | expans also shift global growth |
| also | pace thus sourc global expans | also | shift global growth restor sustain |
| global | sourc global expans also shift | global | growth restor sustain basi pace |
| growth | global expans also shift global | growth | restor sustain basi pace establish |
| market | risk mani author especi emerg | market | economi conclud key lesson current |
| economi | mani author especi emerg market | economi | conclud key lesson current crisi |
| global | key lesson current crisi selfinsur | global | capit market volatil build intern |
| market | current crisi selfinsur global capit | market | volatil build intern reserv difficulti |
| global | volatil build intern reserv difficulti | global | economi would result simultan effort |
| economi | build intern reserv difficulti global | economi | would result simultan effort run |
| polici | obvious avoid outcom one import | polici | challeng immedi futur short challeng |
| polici | immedi futur short challeng macroeconom | polici | coordin clear formid stake high |
| polici | activ particip g framework macroeconom | polici | broad under condit progress favor |
| need | principl reform first perimet regul | need | widen system import institut encompass |
| need | element includ system cyclic aspect | need | ad exist regul today focus |
| global | take lead role agre new | global | standard regul supervis standard subsequ |
| need | resourc devot task provid back | need | make sure supervisori recommend taken |
| also | encourag excess risktak public general | also | financi market profession shock scale |
| market | risktak public general also financi | market | profession shock scale scope public |
| polici | involv issu rank high current | polici | agenda may know g leader |
| polici | ask imf provid analysi relev | polici | option time june summit complex |
| polici | like would lead differ set | polici | option issu whether creat mechan |
| need | futur cost issu relev relat | need | analyz independ perhap notabl substanti |
| polici | analysi hew leader request analyz | polici | option financi sector could make |
| market | challeng discuss capit flow emerg | market | reflect faster growth emerg economi |
| growth | flow emerg market reflect faster | growth | emerg economi relat advanc economi |
| economi | market reflect faster growth emerg | economi | relat advanc economi recoveri investor |
| economi | growth emerg economi relat advanc | economi | recoveri investor risk appetit low |
| economi | low interest rate prevail advanc | economi | market investor rapid revers sudden |
| market | interest rate prevail advanc economi | market | investor rapid revers sudden stop |
| market | sudden stop capit flow emerg | market | unfold short span market cycl |
| market | emerg market unfold short span | market | cycl boom bust back least |
| market | appropri capit flow toward emerg | market | thus current surg degre repres |
| polici | cours boom still present signific | polici | challeng surg capit inflow prove |
| market | prove destabil relat small incomplet | market | emerg economi react circumst larg |
| economi | relat small incomplet market emerg | economi | react circumst larg pragmat issu |
| need | outsiz capit inflow may signal | need | polici adjust mani case exchang |
| polici | capit inflow may signal need | polici | adjust mani case exchang rate |
| polici | case exchang rate appreci key | polici | respons potenti respons includ tighter |
| polici | potenti respons includ tighter fiscal | polici | reserv accumul lower interest rate |
| also | measur structur reform capit control | also | one option avail deal sudden |
| polici | capit flow may appropri time | polici | measur effect appli quick care |
| need | measur effect appli quick care | need | exercis temporari capit control becom |
| need | capit control becom mean avoid | need | adjust basic polici may uncomfort |
| polici | mean avoid need adjust basic | polici | may uncomfort inconveni govern author |
| global | increas effect new era chang | global | econom govern guid call istanbul |
| econom | effect new era chang global | econom | govern guid call istanbul decis |
| global | area align mandat realiti modern | global | financi system improv financ instrument |
| financ | modern global financi system improv | financ | instrument increas crisisprevent capabl bolster |
| econom | stabil strengthen surveil improv reflect | econom | weight quota share give greater |
| economi | greater voic underrepres dynam emerg | economi | member know london leader summit |
| financ | time continu studi way make | financ | instrument effect key lesson current |
| growth | non achiev strong sustain balanc | growth | activ particip major new structur |
| market | increas share dynam underrepres emerg | market | member least five percent shift |
| global | implicit midst major turn point | global | govern valu inde necess broad |
| econom | necess broad multilater collabor cooper | econom | financi matter clearer sinc imf |
| need | process act vigor anticip adapt | need | member cours part broad global |
| global | need member cours part broad | global | respons sure awar import part |
| countri | canada play process system chang | countri | long histori leadership support intern |
| need | second topic name regulatori reform | need | foster develop financi system ll |
| econom | clear play critic role enabl | econom | growth match saver investor way |
| growth | play critic role enabl econom | growth | match saver investor way valueenhanc |
| countri | valueenhanc wake crisi wide accept | countri | financi sector grown larg gone |
| economi | product profit industri doubt valu | economi | whole seem clear financi system |
| need | seem clear financi system futur | need | take less risk manag risk |
| need | better make less prone crisi | need | financi institut perform key role |
| econom | system import underpin stabl sustain | econom | growth probabl mean financi sector |
| growth | import underpin stabl sustain econom | growth | probabl mean financi sector account |
| economi | go forward least mani advanc | economi | cours develop emerg market economi |
| market | advanc economi cours develop emerg | market | economi financi develop remain import |
| economi | economi cours develop emerg market | economi | financi develop remain import boost |
| econom | financi develop remain import boost | econom | growth may still see financi |
| growth | develop remain import boost econom | growth | may still see financi sector |
| need | regulatori reform agenda regulatori reform | need | encourag develop safer stabl financi |
| market | environ focus risk individu institut | market | potenti buildup system risk suffici |
| also | risk suffici appreci supervis problem | also | play role fair say jurisdict |
| economi | led serious laps oversight polit | economi | consider also present problem exampl |
| also | laps oversight polit economi consider | also | present problem exampl object increas |
| polici | ownership allow trump prudenc lend | polici | maker around world work hard |
| economi | extrem reform agenda timid stall | economi | recov momentum reform lose steam |
| market | risk manag increas transpar promot | market | integr reinforc intern cooper reform |
| need | reform agenda remain signific particular | need | rein excess risk take correct |
| market | excess risktak enhanc overthecount deriv | market | improv transpar mitig system risk |
| market | transpar mitig system risk protect | market | abus address problem relat crossbord |
| also | way govern manag failur resolut | also | develop special resolut mechan handl |
| econom | becom heavi hamper effici contribut | econom | growth wellb intend review rang |
| growth | heavi hamper effici contribut econom | growth | wellb intend review rang option |
| also | rang option avail address issu | also | take broad perspect includ evalu |
| need | actual best interest affect nation | need | agre framework cooper deal crossbord |
| also | cooper deal crossbord firm appli | also | reform effort underway europ see |
| need | see four essenti area cooper | need | regul resolut tool depositor investor |
| countri | regul must appli consist across | countri | across financi activ resolut tool |
| countri | troubl expect framework differ across | countri | import get system place allow |
| countri | enhanc inform share home host | countri | supervisor must grant clear legal |
| also | share inform amongst time fashion | also | local counterpart leav open possibl |
| global | role regulatori reform let clear | global | financi regul aspir obvious respons |
| also | regulatori supervisori agenc futur perhap | also | region agenc fsb also critic |
| also | perhap also region agenc fsb | also | critic player develop implement regulatori |
| polici | player develop implement regulatori supervisori | polici | interest financi stabil said take |
| countri | help resolv differ may aris | countri | seek agre common standard also |
| also | countri seek agre common standard | also | contribut extens knowledg well standard |
| countri | well standard work ground member | countri | main role involv monitor implement |
| also | implement issu undertak themat assess | also | provid extens technic assist area |
| countri | regulatori reform thus support member | countri | implement agre framework exampl fund |
| countri | exampl fund abl provid assist | countri | introduc flexibl resolut framework allow |
| also | deal complex financi institut final | also | sharpen focus surveil system risk |
| market | warn exercis cover advanc emerg | market | economi hope new tool other |
| economi | exercis cover advanc emerg market | economi | hope new tool other develop |
| economi | meaning progress take time worri | economi | recov financi market normal urgenc |
| market | time worri economi recov financi | market | normal urgenc reform engend crisi |
| global | allow happen gain much increas | global | interconnected see gain disappear account |
| econom | stabl financi system support sustain | econom | growth long term pleasur speak |
| growth | financi system support sustain econom | growth | long term pleasur speak afternoon |
| global | financi condit extrem financi turbul | global | recess sequenc rather extrem event |
| polici | crucibl draw broader lesson effect | polici | framework attain monetari financi stabil |
| global | attain monetari financi stabil domest | global | talk first throw spotlight condit |
| polici | stabil crisi final offer reflect | polici | framework could enhanc futur achiev |
| econom | stabil last manner necessari sustain | econom | growth b past crisi thought |
| growth | last manner necessari sustain econom | growth | b past crisi thought went |
| polici | stabil monetari stabil achiev better | polici | frameworkssinc late substanti declin inflat |
| countri | across industri world beyond mani | countri | saw inflat fall low singl |
| countri | increas stabl less dispers across | countri | nonmonetari factor global sure play |
| global | dispers across countri nonmonetari factor | global | sure play role bring inflat |
| polici | bring inflat import chang monetari | polici | framework three key aspect want |
| countri | central bank independ mani advanc | countri | enshrin law central bank independ |
| polici | central bank independ conduct monetari | polici | even countri formal chang legisl |
| countri | independ conduct monetari polici even | countri | formal chang legisl took place |
| polici | accept polit consider interfer monetari | polici | second enshrin price stabil formal |
| polici | price stabil formal overrid monetari | polici | object breakdown bretton wood regim |
| polici | fiscal consolid general improv macroeconom | polici | framework mani countri provid basi |
| countri | improv macroeconom polici framework mani | countri | provid basi monetari independ coupl |
| countri | independ coupl fiscal reform restrict | countri | central bank abil purchas public |
| polici | outlin refer institut framework monetari | polici | also import advanc strateg framework |
| also | refer institut framework monetari polici | also | import advanc strateg framework strategi |
| market | discret develop happen mani emerg | market | formal shift inflat target financi |
| also | shift inflat target financi stabil | also | somehow achievedw also thought somehow |
| also | financi stabil also somehow achievedw | also | thought somehow achiev financi stabil |
| global | late character decreas macroeconom volatil | global | percept low risk translat lower |
| market | risk translat lower volatil financi | market | led mani believ financi stabil |
| also | led mani believ financi stabil | also | achiev durabl manner financi innov |
| need | knew best manag risk hand | need | recal financi stabil framework develop |
| polici | financi stabil framework develop monetari | polici | framework relat monetari stabil framework |
| polici | remain subject debat financi stabil | polici | reli much looser conceptu framework |
| also | goal instrument much less precis | also | recognit financi stabil analysi need |
| need | also recognit financi stabil analysi | need | better data aggreg data avail |
| polici | avail suffici high frequenc monetari | polici | purpos data fit financi stabil |
| need | fit financi stabil analysi author | need | reli survey data public account |
| market | best month frequenc altern turn | market | data much debat polici rate |
| polici | turn market data much debat | polici | rate accept key instrument conduct |
| polici | accept key instrument conduct monetari | polici | limit debat rang instrument need |
| need | polici limit debat rang instrument | need | achiev financi stabil almost default |
| polici | preced intern cooper final monetari | polici | embodi within clear institut framework |
| countri | framework best achiev financi stabil | countri | continu fragment regulatori supervisori structur |
| polici | financi stabil went wrong monetari | polici | factor caus crisi financi polici |
| polici | polici factor caus crisi financi | polici | factor financi stabil clear gone |
| global | individu system institut near breakdown | global | financi system role financi monetari |
| polici | financi system role financi monetari | polici | play lay groundwork crisi financi |
| polici | play lay groundwork crisi financi | polici | factor generat crisi answer clear |
| market | increas total leverag fund wholesal | market | long suffici stringent capit standard |
| need | vehicl creat offbal sheet supervisor | need | appli higher capit charg exposur |
| market | increas continu liquid wholesal fund | market | activ use supervisori discret would |
| need | examin determin take followup action | need | third import lack macroprudenti perspect |
| polici | import lack macroprudenti perspect financi | polici | polici lack system view fail |
| polici | lack macroprudenti perspect financi polici | polici | lack system view fail address |
| market | within cross sector linkag financi | market | failur appreci polici seek ensur |
| polici | linkag financi market failur appreci | polici | seek ensur stabil singl institut |
| economi | institut may occas advers consequ | economi | whole exampl result reduct fund |
| economi | whole exampl result reduct fund | economi | larg procycl fourth one look |
| polici | look see domest financi stabil | polici | macro perspect ad global global |
| global | stabil polici macro perspect ad | global | global prudenti global macro polici |
| global | polici macro perspect ad global | global | prudenti global macro polici consist |
| global | perspect ad global global prudenti | global | macro polici consist produc global |
| polici | global global prudenti global macro | polici | consist produc global financi stabil |
| global | global macro polici consist produc | global | financi stabil clear monetari polici |
| polici | global financi stabil clear monetari | polici | factor generat crisi main factor |
| global | factor believ answer probabl yes | global | level specif low nomin interest |
| econom | low nomin interest rate stabl | econom | condit led search yield investor |
| global | search yield investor financi institut | global | led increas demand complex structur |
| global | peg creat condit excess liquid | global | facilit buildup leverag turn increas |
| polici | pay enough attent consequ monetari | polici | financi sector develop domest global |
| global | polici financi sector develop domest | global | show lack macroprudenti perspect monetari |
| polici | come lack macroprudenti perspect financi | polici | monetari stabil kept crisi one |
| economi | close inflat object across advanc | economi | crisi also complic monetari policymak |
| also | object across advanc economi crisi | also | complic monetari policymak number import |
| market | put doubt solvenc counterparti money | market | unsecur interbank money market dri |
| market | money market unsecur interbank money | market | dri term spread remain elev |
| polici | remain elev despit signific cut | polici | rate increas commod price fall |
| need | rate midst crisi highlight tension | need | ensur inflat expect remain wellanchor |
| need | ensur inflat expect remain wellanchor | need | counter advers macrofinanci feedback loop |
| polici | consist absenc inflationari risk monetari | polici | help support financi sector sustain |
| polici | financi sector sustain aggreg demand | polici | rate cut record low level |
| polici | balanc sheet continu weak monetari | polici | continu less effect passthrough polici |
| polici | polici continu less effect passthrough | polici | rate credit extend financi sector |
| need | regain look forward number challeng | need | consid shorterterm monetari stabil kept |
| need | support provid crisi mediumterm chang | need | macrofinanci polici framework order secur |
| polici | crisi mediumterm chang need macrofinanci | polici | framework order secur monetari financi |
| polici | sheet major central bank monetari | polici | remain accommod time first challeng |
| econom | stimulus provid low interest rate | econom | financi condit improv keep inflationari |
| econom | difficult situat could aris remain | econom | financi weak inflationari pressur come |
| polici | independ central bank unwind unconvent | polici | measur easier automat case like |
| polici | bank oper within exist implement | polici | framework case accumul riskier asset |
| need | accumul strong central bank independ | need | avoid temptat lean central bank |
| growth | rate sure creat longlast drag | growth | increas rather eas fiscal pressur |
| need | fiscal side credibl fiscal adjust | need | recoveri underway offset key sourc |
| polici | mediumterm main challeng enhanc macrofinanci | polici | framework deliv monetari financi stabil |
| need | financi stabil bad broken thus | need | fix next question done role |
| polici | state follow first best monetari | polici | financi polici gear preserv price |
| polici | first best monetari polici financi | polici | gear preserv price financi stabil |
| polici | enhanc regulatori supervisori framework monetari | polici | remain gear toward deliv price |
| polici | bad time thus make monetari | polici | symmetr busi cycl similar regulatori |
| polici | better account system consequ financi | polici | thus includ macroprudenti perspect let |
| market | perimet cover system import institut | market | activ deal excess procycl financi |
| need | insuffici capit liquid buffer clear | need | gradual increas level qualiti regulatori |
| need | non futur close relat issu | need | promot hold robust liquid buffer |
| market | financi sector regul oversight relianc | market | disciplin prove ineffect constrain risk |
| market | financi institut disrupt key financi | market | system repercuss henc increas likelihood |
| also | step toward ensur financi stabil | also | acknowledg clear mani instanc supervis |
| growth | rapid asset price increas credit | growth | economi boom sever restrict credit |
| economi | asset price increas credit growth | economi | boom sever restrict credit lead |
| economi | lead sharpli fall asset price | economi | face turn address procycl norm |
| need | provis liquid incent general regul | need | balanc care tradeoff rule discret |
| market | fourth area reform disclosur import | market | disciplin also need ensur disclos |
| also | reform disclosur import market disciplin | also | need ensur disclos inform accur |
| need | disclosur import market disciplin also | need | ensur disclos inform accur inform |
| global | therefor concert consist approach disclosur | global | basi would strengthen market disciplin |
| market | disclosur global basi would strengthen | market | disciplin would develop common databas |
| global | common databas compar financi statist | global | activ bank come final question |
| also | activ bank come final question | also | one requir hardest effort two |
| polici | crise resolut believ time public | polici | took activ stanc discourag institut |
| also | institut reach hallow status futur | also | believ issu handl care gradual |
| need | agreement insolv framework resolut arrang | need | greater compat crossbord resolut framework |
| countri | approach made oper consist across | countri | nevertheless signific addit regulatori arsenal |
| countri | ahead present crisi vari wide | countri | supervisor use exist regul requir |
| need | correct action monetari policyfrom examin | need | chang framework regul supervis clear |
| polici | framework regul supervis clear financi | polici | enhanc microprudenti dimens add much |
| need | enhanc microprudenti dimens add much | need | macroprudenti dimens adequ integr systemwid |
| also | adequ integr systemwid consider import | also | concern linkag monetari financi polici |
| polici | also concern linkag monetari financi | polici | specif financi polici must take |
| polici | monetari financi polici specif financi | polici | must take account system consequ |
| polici | take account system consequ monetari | polici | action exampl higher risk take |
| polici | reduc impact similar set monetari | polici | central bank take financi stabil |
| also | financi stabil consider fulli account | also | bear mind interest rate decis |
| also | financi imbal set interest rate | also | requir receiv adequ inform supervisori |
| polici | justifi pragmat adjust tradit monetari | polici | better take account sort financi |
| polici | incorpor model structur guid monetari | polici | decis somewhat higher interest rate |
| polici | price stabil primari goal monetari | polici | mere ensur latter effect pursu |
| polici | financi stabil primari respons financi | polici | littl would gain front regulatori |
| polici | enhanc adequ reform come monetari | polici | also support incorpor macroprudenti dimens |
| also | adequ reform come monetari polici | also | support incorpor macroprudenti dimens pursuit |
| polici | put suggest practic regard monetari | polici | instanc import make sure lengthen |
| also | reli variabl stabil inflat expect | also | may differ way achiev purpos |
| polici | pillar european central bank monetari | polici | strategi use way help conduct |
| polici | use way help conduct monetari | polici | symmetr manner cycl fulli take |
| polici | account financi stabil consider monetari | polici | make process monetari pillar put |
| need | approach model possibl practition academ | need | research debat develop idea adopt |
| polici | never get goal world fiscal | polici | becom truli countercycl accumul high |
| polici | time drawn bad time financi | polici | mitig excess procycl accumul cushion |
| polici | time use bad time monetari | polici | pay attent financi imbal lean |
| need | lean good time thus less | need | clean explod bad time view |
| growth | view framework signific contribut sustain | growth | around stabl path better ground |
| polici | bank buy govern paper monetari | polici | purpos elsewher us japan legal |
| global | morn would like share thought | global | economi pend polici challeng think |
| economi | would like share thought global | economi | pend polici challeng think good |
| polici | share thought global economi pend | polici | challeng think good time take |
| polici | give way mani smaller challeng | polici | respons might less obvious sens |
| polici | risk new storm pick right | polici | sustain success collabor across countri |
| countri | polici sustain success collabor across | countri | want discuss today talk briefli |
| global | discuss today talk briefli outlook | global | economi spell challeng see four |
| economi | today talk briefli outlook global | economi | spell challeng see four key |
| market | exit strategi capit flow emerg | market | new growth engin financi sector |
| growth | capit flow emerg market new | growth | engin financi sector reform econom |
| econom | growth engin financi sector reform | econom | outlookw certain come long way |
| econom | turn outright panic frenzi fallout | econom | activ world began collaps rate |
| polici | worst avert thank bold rapid | polici | respons deliv atmospher unpreced polici |
| polici | polici respons deliv atmospher unpreced | polici | cooper global econom activ rise |
| global | deliv atmospher unpreced polici cooper | global | econom activ rise yet global |
| econom | atmospher unpreced polici cooper global | econom | activ rise yet global economi |
| global | global econom activ rise yet | global | economi remain much hold pattern |
| economi | econom activ rise yet global | economi | remain much hold pattern stabl |
| countri | still high vulner major advanc | countri | area particular remain fragil still |
| polici | particular remain fragil still depend | polici | support financi condit improv far |
| economi | return bank system mani advanc | economi | remain undercapit weigh leaden legaci |
| global | public deficit add vulner see | global | factor play unit kingdom posit |
| countri | british industri repres busi communiti | countri | well awar concern come back |
| global | well awar concern come back | global | pictur let talk unemploy minut |
| growth | pictur let talk unemploy minut | growth | recov take time job follow |
| countri | purpos go forward might dissolv | countri | might pull differ direct face |
| need | pull differ direct face differ | need | challeng within countri policymak face |
| countri | face differ need challeng within | countri | policymak face delic balanc act |
| need | road ahead less clear cut | need | deft maneuv perhap outofthebox think |
| need | maneuv perhap outofthebox think certain | need | continu collabor exit strategieslet address |
| polici | accommod fiscal monetari financi sector | polici | top agenda exit soon kill |
| countri | late pace recoveri differ among | countri | must exit strategi differ way |
| countri | way avoid even without synchron | countri | strive cooper least keep eye |
| economi | consolid top prioriti especi advanc | economi | threat greater polit complic machineri |
| need | without put recoveri risk eventu | need | ration expenditur case rais tax |
| polici | system see fewer problem monetari | polici | nimbl better abl adapt circumst |
| economi | reabsorb liquid especi mani advanc | economi | monetari polici afford stay accommod |
| polici | especi mani advanc economi monetari | polici | afford stay accommod time given |
| economi | littl sign inflat horizon emerg | economi | face differ challeng monetari polici |
| polici | economi face differ challeng monetari | polici | might need move sooner capit |
| need | differ challeng monetari polici might | need | move sooner capit flow emerg |
| market | talk today capit flow emerg | market | realli follow direct first challeng |
| market | follow direct first challeng emerg | market | ahead recoveri curv interest rate |
| economi | recoveri curv interest rate advanc | economi | need stay low time lack |
| need | curv interest rate advanc economi | need | stay low time lack synchron |
| market | heavi influx capit flow emerg | market | risk appetit bounc back investor |
| market | interest rate gobbl asset emerg | market | countri present yet anoth delic |
| countri | rate gobbl asset emerg market | countri | present yet anoth delic balanc |
| market | want capit flow toward emerg | market | want mani emerg market shift |
| market | emerg market want mani emerg | market | shift toward domest demand someth |
| countri | concern much mind policymak region | countri | would first note pragmat issu |
| countri | note pragmat issu matter ideolog | countri | number polici option toolkit mani |
| polici | issu matter ideolog countri number | polici | option toolkit mani countri appreci |
| countri | number polici option toolkit mani | countri | appreci key polici respons tool |
| polici | toolkit mani countri appreci key | polici | respons tool includ lower interest |
| polici | rate reserv accumul tighter fiscal | polici | financi sector prudenti measur capit |
| growth | mind recogn tool limit pragmat | growth | modelth third issu want discuss |
| growth | want discuss pertain sourc futur | growth | believ old paradigm dead least |
| global | household unit state elsewher propel | global | economi voraci appetit consumpt soak |
| economi | unit state elsewher propel global | economi | voraci appetit consumpt soak import |
| financ | major fault line much consumpt | financ | addict cheap easi credit flow |
| also | back time soon consum behavior | also | chang problem household balanc sheet |
| global | remain etch collect memori sustain | global | growth somebodi els need step |
| growth | etch collect memori sustain global | growth | somebodi els need step breach |
| need | sustain global growth somebodi els | need | step breach lead candid surplus |
| countri | step breach lead candid surplus | countri | see shift right direct china |
| economi | right direct china emerg asian | economi | shift export toward domest demand |
| polici | domest demand aid expansionari fiscal | polici | way go shift would help |
| also | exchang rate along asian currenc | also | need part packag rememb everybodi |
| need | rate along asian currenc also | need | part packag rememb everybodi gain |
| global | rememb everybodi gain new paradigm | global | economi new engin reduc global |
| economi | everybodi gain new paradigm global | economi | new engin reduc global imbal |
| global | global economi new engin reduc | global | imbal world safer place less |
| also | safer place less prone crise | also | china long term interest get |
| market | long term interest get emerg | market | persuad chang strategi serv well |
| polici | financi sector regulationth fourth final | polici | challeng want address morn relat |
| economi | leverag know financi sector advanc | economi | brought whole global economi clear |
| global | sector advanc economi brought whole | global | economi clear must whatev stop |
| economi | advanc economi brought whole global | economi | clear must whatev stop happen |
| also | especi good time regul supervisor | also | pay attent system import institut |
| polici | institut crossbord interact call heighten | polici | coordin addit better rule need |
| need | polici coordin addit better rule | need | better applic rule mean beef |
| also | captur complac anoth lesson crisi | also | need address risk manag financi |
| need | complac anoth lesson crisi also | need | address risk manag financi sector |
| financ | cost rescu limit recours public | financ | event futur crisi suggest practic |
| need | sector still bad shape continu | need | capit asset qualiti deterior environ |
| market | risk take rise manifest emerg | market | ve talk alreadi squar circl |
| market | come clear danger least emerg | market | may run time wait long |
| global | let tri tie everyth togeth | global | economi made remark progress past |
| economi | tri tie everyth togeth global | economi | made remark progress past year |
| countri | crisi perhap first time histori | countri | came togeth face common challeng |
| global | common challeng common solut winner | global | economi main reason avoid catastroph |
| economi | challeng common solut winner global | economi | main reason avoid catastroph see |
| global | collabor spearhead g put respons | global | econom govern hand countri ever |
| econom | spearhead g put respons global | econom | govern hand countri ever want |
| countri | respons global econom govern hand | countri | ever want pay tribut unit |
| global | critic period rise challeng leadership | global | stage help advanc debat mani |
| global | debt gratitud gordon brown team | global | govern goe begin need keep |
| need | team global govern goe begin | need | keep flame cooper aliv fortun |
| polici | collabor work plan mutual assess | polici | imf happi help challeng discuss |
| need | challeng discuss morn requir cooper | need | cooper exit strategi need cooper |
| need | cooper need cooper exit strategi | need | cooper new growth model need |
| growth | exit strategi need cooper new | growth | model need cooper financi sector |
| need | need cooper new growth model | need | cooper financi sector regul know |
| global | world divid line domest interest | global | interest becom increas blur go |
| global | thank opportun speak today impact | global | crisi africa imf extrem concern |
| econom | crisi africa project latest region | econom | outlook subsaharan africa launch last |
| countri | launch last month istanbul show | countri | region hit hard crisi output |
| growth | level inflat macroeconom stabil accompani | growth | takeoff countri strike upsw compar |
| countri | macroeconom stabil accompani growth takeoff | countri | strike upsw compar previous one |
| countri | compar previous one broadbas concentr | countri | larg number african countri hit |
| countri | concentr countri larg number african | countri | hit two global econom shock |
| global | number african countri hit two | global | econom shock way make first |
| econom | african countri hit two global | econom | shock way make first spike |
| countri | later onset great recess african | countri | heavili affect result output project |
| global | capita incom declin ssa expos | global | economi sever impact south africa |
| economi | incom declin ssa expos global | economi | sever impact south africa ghana |
| market | africa ghana uganda sever frontier | market | especi hard hit onset crisi |
| econom | export demand commod price batter | econom | activ mani countri includ oil |
| countri | price batter econom activ mani | countri | includ oil export western central |
| countri | western central africa result mani | countri | stall growth good news mani |
| growth | africa result mani countri stall | growth | good news mani countri includ |
| countri | stall growth good news mani | countri | includ lowincom countri built polici |
| countri | news mani countri includ lowincom | countri | built polici space allow relax |
| polici | countri includ lowincom countri built | polici | space allow relax fiscal monetari |
| polici | space allow relax fiscal monetari | polici | case explicit stimulus african countri |
| countri | polici case explicit stimulus african | countri | respond crisi short answer like |
| countri | like better past previous downturn | countri | limit room maneuv respond global |
| global | countri limit room maneuv respond | global | econom slowdown budget deficit larg |
| econom | limit room maneuv respond global | econom | slowdown budget deficit larg monetari |
| polici | slowdown budget deficit larg monetari | polici | loos leav countri vulner go |
| countri | larg monetari polici loos leav | countri | vulner go past crise high |
| economi | deficit high debt level meant | economi | slow room use fiscal polici |
| polici | economi slow room use fiscal | polici | cushion fall econom activ instead |
| econom | use fiscal polici cushion fall | econom | activ instead countri forc resort |
| countri | cushion fall econom activ instead | countri | forc resort restrict polic expenditur |
| economi | foreign exchang control intervent domest | economi | exact wrong respons reason think |
| economi | reason think time may differ | economi | much better shape outset downturn |
| countri | budget region whole broad balanc | countri | even post moder surplus debt |
| also | post moder surplus debt level | also | much lower earli thank part |
| countri | brought control across region result | countri | accumul much larger buffer save |
| countri | favor start point gave mani | countri | region cushion mani tri use |
| countri | may increas year three four | countri | govern seek preserv public spend |
| countri | spend despit larg drop revenu | countri | africa botswana mauritius tanzania signal |
| countri | risk remain subdu allow mani | countri | eas monetari polici hardearn flexibl |
| polici | allow mani countri eas monetari | polici | hardearn flexibl eas polici help |
| polici | monetari polici hardearn flexibl eas | polici | help dampen advers impact crisi |
| polici | poverti social indic key success | polici | space use ground use exampl |
| econom | plan focus spring edit region | econom | outlook subsaharan africa forget cours |
| countri | outlook subsaharan africa forget cours | countri | posit eas polici crisi countri |
| polici | forget cours countri posit eas | polici | crisi countri econom fundament weaker |
| countri | countri posit eas polici crisi | countri | econom fundament weaker ghana seychell |
| econom | posit eas polici crisi countri | econom | fundament weaker ghana seychell ethiopia |
| polici | ethiopia simpli room use macroeconom | polici | support shortterm growth countri heavili |
| growth | use macroeconom polici support shortterm | growth | countri heavili reliant higher aid |
| countri | macroeconom polici support shortterm growth | countri | heavili reliant higher aid flow |
| economi | africa go posit news world | economi | last month mean africa earli |
| countri | behind us evid patchi best | countri | good highfrequ indic might pinpoint |
| econom | import export tax revenu consist | econom | activ countri bottom first half |
| countri | tax revenu consist econom activ | countri | bottom first half year question |
| polici | cautious optimist recoveri light posit | polici | respons subsaharan africa improv world |
| growth | subsaharan africa improv world outlook | growth | forecast africa percent howev signific |
| global | percent howev signific downsid risk | global | recoveri materi polici take turn |
| polici | downsid risk global recoveri materi | polici | take turn wors thus continu |
| need | turn wors thus continu vigil | need | govern develop partner return unusu |
| global | partner return unusu support precrisi | global | environ cannot taken grant latest |
| global | grant latest imf project suggest | global | economi begin grow recoveri uneven |
| economi | latest imf project suggest global | economi | begin grow recoveri uneven remain |
| polici | grow recoveri uneven remain depend | polici | support thus new engin drive |
| growth | thus new engin drive strong | growth | need postcrisi period measur improv |
| need | new engin drive strong growth | need | postcrisi period measur improv busi |
| market | busi environ develop wellregul capit | market | increas labor product enhanc effici |
| economi | let forget stake either even | economi | improv mani region remain vulner |
| need | improv mani region remain vulner | need | continu support urban unemploy rural |
| countri | place improv public servic essenti | countri | move toward millennium develop goal |
| countri | budget continu stretch mani lowincom | countri | lack buffer provid strong extern |
| countri | imf respond crisi africa lowincom | countri | first increas resourc avail africa |
| financ | avail africa sharpli increas concession | financ | lowincom countri past year septemb |
| countri | sharpli increas concession financ lowincom | countri | past year septemb new commit |
| financ | increas concession lend ii make | financ | cheaper iii take flexibl approach |
| also | worth near us billion second | also | chang way lend recogn differ |
| countri | chang way lend recogn differ | countri | differ need introduc varieti differ |
| need | lend recogn differ countri differ | need | introduc varieti differ lend window |
| need | make lend flexibl better tailor | need | countri insur program prevent countercycl |
| countri | lend flexibl better tailor need | countri | insur program prevent countercycl polici |
| polici | countri insur program prevent countercycl | polici | fiscal target loosen close percent |
| countri | target loosen close percent african | countri | activ fund program averag fiscal |
| countri | continu support intern communitymani lowincom | countri | remain heavili depend uncertain extern |
| need | provid onethird addit extern financi | need | lowincom countri next two year |
| countri | addit extern financi need lowincom | countri | next two year estim billion |
| also | year intern institut contribut donor | also | need play part scale aid |
| need | intern institut contribut donor also | need | play part scale aid least |
| need | aid least line gleneagl commit | need | urgent let conclud make three |
| countri | crisi would serious impact lowincom | countri | put risk progress made toward |
| polici | build two crisi hit world | polici | advic clear war poverti fight |
| global | fight mdgs must continu face | global | recess requir shortterm relax budgetari |
| countri | budgetari monetari target mani lowincom | countri | time use polici space built |
| polici | mani lowincom countri time use | polici | space built raini day financi |
| also | built raini day financi assist | also | need quick imf need continu |
| need | raini day financi assist also | need | quick imf need continu assist |
| need | assist also need quick imf | need | continu assist increas amount lend |
| financ | communiti must pitch ensur adequ | financ | avail |
| financ | emin audienc annual meet intern | financ | forum meet beij forefront global |
| global | financ forum meet beij forefront | global | econom recoveri china lead world |
| econom | forum meet beij forefront global | econom | recoveri china lead world recess |
| polici | last generat china role intern | polici | debat rise tandem grow economi |
| economi | polici debat rise tandem grow | economi | key member g china help |
| global | member g china help elabor | global | polici prioriti futur devis solut |
| polici | g china help elabor global | polici | prioriti futur devis solut global |
| global | polici prioriti futur devis solut | global | problem imf china support effort |
| need | china support effort adapt serv | need | member countri even effect look |
| countri | effort adapt serv need member | countri | even effect look forward listen |
| global | princip challeng world begin emerg | global | crisi second strengthen intern monetari |
| global | intern monetari system includ reform | global | govern polici challeng global economyth |
| polici | system includ reform global govern | polici | challeng global economyth global economi |
| global | reform global govern polici challeng | global | economyth global economi appear turn |
| global | govern polici challeng global economyth | global | economi appear turn corner last |
| economi | polici challeng global economyth global | economi | appear turn corner last recoveri |
| economi | uneven yet selfsustain mani emerg | economi | especi asia turn around strong |
| growth | around strong inde china project | growth | Â ½ percent percent global |
| global | growth  ½ percent percent | global | outlook thank improv still face |
| polici | thank improv still face consider | polici | challeng biggest risk prematur withdraw |
| polici | challeng biggest risk prematur withdraw | polici | stimulus prudent plan socal exit |
| polici | prudent plan socal exit strategi | polici | maker keep support measur place |
| growth | maintain fiscal stimulus import support | growth | govern also recogn howev time |
| also | stimulus import support growth govern | also | recogn howev time come begin |
| growth | begin slow rapid pace loan | growth | rais risk overinvest overcapac ultim |
| polici | loan recoveri emerg key mediumterm | polici | challeng global economi first focus |
| global | emerg key mediumterm polici challeng | global | economi first focus talk today |
| economi | key mediumterm polici challeng global | economi | first focus talk today achiev |
| economi | achiev stabl distribut demand across | economi | challeng come call global econom |
| global | across economi challeng come call | global | econom rebalanc runup crisi global |
| econom | economi challeng come call global | econom | rebalanc runup crisi global imbal |
| global | global econom rebalanc runup crisi | global | imbal widen signific rais concern |
| polici | disord adjust imbal sourc concern | polici | maker although global imbal declin |
| global | sourc concern polici maker although | global | imbal declin crisi remain larg |
| global | crisi remain larg could widen | global | economi normal g recent adopt |
| economi | remain larg could widen global | economi | normal g recent adopt framework |
| growth | adopt framework strong sustain balanc | growth | set process mutual assess polici |
| polici | growth set process mutual assess | polici | implic global growth reflect share |
| global | process mutual assess polici implic | global | growth reflect share understand nation |
| growth | mutual assess polici implic global | growth | reflect share understand nation must |
| economi | analyt support mutual assess process | economi | heart imbal economi run larg |
| economi | assess process economi heart imbal | economi | run larg current account deficit |
| need | current account deficit nation save | need | increas mani economi includ unit |
| economi | nation save need increas mani | economi | includ unit state fiscal consolid |
| economi | repair essenti last recoveri hand | economi | run larg current account surplus |
| need | current account surplus domest demand | need | stronger euro area economi japan |
| economi | demand need stronger euro area | economi | japan competit product labor market |
| market | economi japan competit product labor | market | increas emerg asia rebalanc mean |
| countri | increas domest demand invest mani | countri | china emphasi privat consumpt china |
| economi | consumpt consum spend grow faster | economi | whole moreov note presid hu |
| also | peopl reform rural pension system | also | move forward done secur last |
| polici | toward consumpt expand scope social | polici | move ahead financi sector reform |
| global | rebal world demand assur healthier | global | economi us ii intern monetari |
| economi | world demand assur healthier global | economi | us ii intern monetari system |
| econom | reserv currenc worri unit state | econom | financi problem particular larg fiscal |
| polici | nearterm concern dollar eas appropri | polici | action u author fact expect |
| global | instabl intern monetari system provid | global | financi insur recent experi demonstr |
| countri | demand foreign exchang extern liquid | countri | need aris under balanc payment |
| need | foreign exchang extern liquid countri | need | aris under balanc payment problem |
| global | problem other may pure result | global | liquid shortag relat domest condit |
| countri | relat domest condit one respons | countri | build precautionari reserv form selfinsur |
| need | rate return reason see clear | need | global financi insur global level |
| global | return reason see clear need | global | financi insur global level believ |
| global | clear need global financi insur | global | level believ imf serv effect |
| financ | member allow us provid critic | financ | mani countri hit crisi howev |
| countri | us provid critic financ mani | countri | hit crisi howev serv truli |
| global | crisi howev serv truli depend | global | lender last resort fund need |
| need | global lender last resort fund | need | consider greater resourc regard china |
| global | tripl resourc still smaller share | global | gdp even smaller share global |
| global | global gdp even smaller share | global | capit flow fund creat member |
| need | requir safeguard abil meet member | need | also ask consid way improv |
| also | safeguard abil meet member need | also | ask consid way improv way |
| financ | improv way lend e improv | financ | instrument better meet need global |
| need | improv financ instrument better meet | need | global financi insur region reserv |
| global | financ instrument better meet need | global | financi insur region reserv pool |
| financ | initi provid import complement imf | financ | think way region resourc well |
| global | final look close way increas | global | liquid general earlier year imf |
| global | general earlier year imf boost | global | liquid billion issuanc addit sdrs |
| global | region issu sdrs flexibl respons | global | liquid tension see mani way |
| global | excel idea make progress area | global | govern reform allow touch also |
| also | global govern reform allow touch | also | issu global govern reform consid |
| global | reform allow touch also issu | global | govern reform consid progress area |
| global | intern monetari system emerg new | global | govern framework essenti secur intern |
| need | framework essenti secur intern cooper | need | tackl crisi secur sustain recoveri |
| polici | g key forum foster intern | polici | dialogu advanc reform initi view |
| global | platform make valuabl contribut reshap | global | financi architectur imf improv govern |
| countri | imf effect confid trust member | countri | taken number step direct quota |
| countri | direct quota reform agre underrepres | countri | asia stand gain near percentag |
| market | point quota toward dynam emerg | market | develop countri shift complet earli |
| countri | toward dynam emerg market develop | countri | shift complet earli iii close |
| global | tremend opportun contribut reshap postcrisi | global | economi entir appropri given asia |
| economi | opportun contribut reshap postcrisi global | economi | entir appropri given asia econom |
| econom | economi entir appropri given asia | econom | weight world token asia also |
| also | econom weight world token asia | also | grow respons help find global |
| global | also grow respons help find | global | solut need secur strong sustain |
| need | respons help find global solut | need | secur strong sustain growth long |
| growth | solut need secur strong sustain | growth | long term certain asia play |
| need | play leadership role make chang | need | embark new growth path secur |
| growth | make chang need embark new | growth | path secur longterm econom success |
| econom | new growth path secur longterm | econom | success nation thank kind attent |
| polici | stimul day singapor meet region | polici | maker academ busi leader convers |
| global | convers gain valuabl insight impact | global | crisi asia implic region longer |
| global | two year reveal deep fissur | global | econom financi framework make abund |
| econom | year reveal deep fissur global | econom | financi framework make abund clear |
| need | base rule yesterday fundament reset | need | across econom sector across econom |
| econom | yesterday fundament reset need across | econom | sector across econom region histor |
| econom | need across econom sector across | econom | region histor opportun lay foundat |
| econom | opportun lay foundat safer stabl | econom | financi framework address today wish |
| need | address today wish explor chang | need | achiev object focus three prioriti |
| countri | achiev healthier balanc demand across | countri | strengthen intern monetari system manag |
| countri | achiev depend larg part well | countri | work togeth regard great encourag |
| global | encourag emerg inclus thus stronger | global | govern framework believ asia play |
| global | asia play leadership role guid | global | economi new sustain path growth |
| economi | play leadership role guid global | economi | new sustain path growth appropri |
| growth | global economi new sustain path | growth | appropri given asia econom weight |
| econom | path growth appropri given asia | econom | weight world also necessari sinc |
| also | given asia econom weight world | also | necessari sinc asia import part |
| econom | asia becom even bigger player | econom | world stage thank sound macroeconom |
| growth | macroeconom manag farreach structur reform | growth | last ten year averag remark |
| global | per year rais asia share | global | economi one third rapid econom |
| economi | year rais asia share global | economi | one third rapid econom growth |
| econom | global economi one third rapid | econom | growth boost live standard lift |
| growth | economi one third rapid econom | growth | boost live standard lift million |
| economi | lift million poverti strength asia | economi | help weather global financi crisi |
| global | strength asia economi help weather | global | financi crisi today region lead |
| econom | crisi today region lead world | econom | recoveri thank strong fundament quick |
| polici | thank strong fundament quick forc | polici | respons crisi asia perform consider |
| global | thus play import role support | global | recoveri expect asia gdp growth |
| growth | global recoveri expect asia gdp | growth | pick  ¾ percent next |
| global | percent next year compar percent | global | economi ensur continu success generat |
| economi | next year compar percent global | economi | ensur continu success generat come |
| need | continu success generat come asia | need | adapt new challeng present postglobalcrisi |
| economi | adapt new challeng present postglobalcrisi | economi | imper wide recogn asian polici |
| polici | economi imper wide recogn asian | polici | maker move rapid identifi key |
| econom | new development model deliv sustain | econom | growth particular realiz limit pace |
| growth | development model deliv sustain econom | growth | particular realiz limit pace export |
| growth | particular realiz limit pace export | growth | domest region demand need play |
| need | export growth domest region demand | need | play increas import role underpin |
| growth | increas import role underpin asia | growth | longterm success also depend critic |
| also | underpin asia growth longterm success | also | depend critic asia activ particip |
| global | particip intern effort build stronger | global | economi asia economi risen global |
| economi | intern effort build stronger global | economi | asia economi risen global statur |
| economi | build stronger global economi asia | economi | risen global statur voic intern |
| global | global economi asia economi risen | global | statur voic intern stage g |
| countri | stage g asia repres six | countri | imf asia quota rise govern |
| econom | reform move ahead bring region | econom | voic line weight global economi |
| global | region econom voic line weight | global | economi time asia use stronger |
| economi | econom voic line weight global | economi | time asia use stronger voic |
| global | asia use stronger voic contribut | global | effort reshap econom financi landscap |
| econom | voic contribut global effort reshap | econom | financi landscap global context face |
| global | effort reshap econom financi landscap | global | context face asia hope global |
| global | global context face asia hope | global | economi turn corner recoveri remain |
| economi | context face asia hope global | economi | turn corner recoveri remain fragil |
| polici | turn corner recoveri remain fragil | polici | maker therefor keep support measur |
| market | condit unemploy reced place emerg | market | includ asia recoveri along crisi |
| polici | asia recoveri along crisi support | polici | may need unwound sooner rather |
| need | along crisi support polici may | need | unwound sooner rather later region |
| economi | unwound sooner rather later region | economi | recoveri less firm establish polici |
| polici | economi recoveri less firm establish | polici | stimulus maintain longer regardless extent |
| econom | stimulus maintain longer regardless extent | econom | recoveri make sens polici maker |
| polici | extent econom recoveri make sens | polici | maker countri start plan exit |
| countri | recoveri make sens polici maker | countri | start plan exit strategi appli |
| polici | plan exit strategi appli monetari | polici | fiscal polici financi sector support |
| polici | strategi appli monetari polici fiscal | polici | financi sector support earli plan |
| polici | plan help eventu unwind exit | polici | eas transit normal econom condit |
| econom | exit polici eas transit normal | econom | condit economi face serious concern |
| economi | eas transit normal econom condit | economi | face serious concern fiscal sustain |
| need | particular import identifi longerterm reform | need | eventu fiscal consolid concern greatest |
| economi | consolid concern greatest advanc g | economi | gross public debt forecast reach |
| market | implement resurg capit flow emerg | market | includ sever asia present polici |
| polici | market includ sever asia present | polici | challeng resurg reflect favor outlook |
| also | resurg reflect favor outlook region | also | renew appetit higherrisk asset financi |
| polici | destabil movement currenc asset price | polici | maker sever tool mitig effect |
| polici | exchang rate appreci tighter fiscal | polici | appropri lower interest rate addit |
| economi | challeng us particular externallyori asian | economi | risk protection unemploy still rise |
| economi | protection unemploy still rise advanc | economi | go forward must work togeth |
| growth | contain threat potenti damag effect | growth | would like discuss three import |
| economi | import prioriti reshap postglob crisi | economi | role asia meet global rebalancingth |
| global | crisi economi role asia meet | global | rebalancingth first prioriti achiev stabl |
| global | distribut demand across world know | global | imbal widen signific runup crisi |
| countri | crisi mean current account deficit | countri | current account surplus other becom |
| countri | bad may reflect differ across | countri | rate return invest differ degre |
| global | remain essenti reduc imbal fact | global | imbal declin crisi remain larg |
| global | crisi remain larg could widen | global | economi normal thus resolv issu |
| economi | remain larg could widen global | economi | normal thus resolv issu essenti |
| global | resolv issu essenti secur sustain | global | recoveri therefor great encourag central |
| growth | adopt framework strong sustain balanc | growth | set mutual assess polici implic |
| polici | balanc growth set mutual assess | polici | implic global growth show commit |
| global | set mutual assess polici implic | global | growth show commit highest polit |
| growth | mutual assess polici implic global | growth | show commit highest polit level |
| global | commit highest polit level ensur | global | imbal address also reflect share |
| also | level ensur global imbal address | also | reflect share understand nation must |
| growth | part secur strong sustain balanc | growth | go forward request g imf |
| polici | contribut deep experi crosscountri analysi | polici | assess done rebal global demand |
| global | analysi polici assess done rebal | global | demand last way economi run |
| economi | rebal global demand last way | economi | run larg current account deficit |
| need | current account deficit nation save | need | increas mani economi includ unit |
| economi | nation save need increas mani | economi | includ unit state fiscal consolid |
| economi | sector repair essenti last recoveri | economi | run larg current account surplus |
| need | current account surplus domest demand | need | stronger euro area economi japan |
| economi | demand need stronger euro area | economi | japan competit product labor market |
| market | economi japan competit product labor | market | increas emerg asia rebalanc countri |
| countri | market increas emerg asia rebalanc | countri | impli increas domest demand invest |
| countri | impli increas domest demand invest | countri | china notabl consumpt would like |
| growth | must remain essenti element asia | growth | model region strong outward orient |
| econom | flow gdp key factor remark | econom | perform singapor good exampl benefit |
| economi | singapor good exampl benefit open | economi | extrem open gross capit flow |
| econom | reform businessfriend environ cornerston singapor | econom | success rais real incom per |
| growth | bottleneck domest spend recalibr asia | growth | model much region selfinterest particular |
| need | howev asia signific longterm develop | need | govern region therefor step public |
| also | public invest program fiscal space | also | acceler effort creat regulatori environ |
| countri | adb exampl estim asia pacif | countri | need invest trillion next decad |
| need | exampl estim asia pacif countri | need | invest trillion next decad invest |
| also | would boost product potenti would | also | help fight poverti improv access |
| also | electr clean water invest educ | also | remain prioriti mani asian countri |
| countri | also remain prioriti mani asian | countri | could help allevi shortag skill |
| growth | industri final invest lowcarbon green | growth | would also worthwhil technolog innov |
| also | invest lowcarbon green growth would | also | worthwhil technolog innov key manag |
| economi | boost privat consumpt way rebal | economi | agre right way forward improv |
| polici | right way forward improv social | polici | particular healthcar pension educ need |
| need | polici particular healthcar pension educ | need | make fund avail consumpt develop |
| market | fund avail consumpt develop financi | market | ensur better alloc capit provid |
| also | expand avail insur product would | also | help free resourc becom tie |
| polici | structur boost consumpt lead overh | polici | maker need continu keep close |
| need | consumpt lead overh polici maker | need | continu keep close watch credit |
| market | keep close watch credit asset | market | let make one final observ |
| countri | skew thus delay rebalanc across | countri | specif necessari recalibr asia growth |
| growth | countri specif necessari recalibr asia | growth | model view region resist gradual |
| countri | extraordinarili larg demand offici resourc | countri | resourc need address under balanc |
| need | demand offici resourc countri resourc | need | address under balanc payment problem |
| global | other demand may pure result | global | liquid shortag relat domest condit |
| countri | liquid shortag relat domest condit | countri | build precautionari reserv form selfinsur |
| need | rate return reason see clear | need | global financi insur believ imf |
| global | return reason see clear need | global | financi insur believ imf potenti |
| also | world deal moral hazard problem | also | provid framework harmon global region |
| global | problem also provid framework harmon | global | region safeti net intern communiti |
| need | imf key institut meet financi | need | member lend resourc tripl billion |
| financ | member allow us provid critic | financ | broad array countri hit crisi |
| countri | provid critic financ broad array | countri | hit crisi howev serv truli |
| global | crisi howev serv truli depend | global | lender last resort fund need |
| need | global lender last resort fund | need | consider greater resourc amount resourc |
| also | greater resourc amount resourc matter | also | deploy overhaul general lend framework |
| countri | lend framework make better suit | countri | need import compon streamlin condit |
| need | framework make better suit countri | need | import compon streamlin condit attach |
| also | compon streamlin condit attach loan | also | introduc flexibl credit line socal |
| polici | facil without condit member strong | polici | continu seek way resourc better |
| need | way resourc better meet member | need | one possibl build success fcl |
| financ | enhanc predict access imf crisi | financ | specif option would make consider |
| also | consid design altern conting instrument | also | element automat even import resourc |
| financ | element automat even import resourc | financ | modal confid trust member countri |
| countri | financ modal confid trust member | countri | without hard press succeed effort |
| global | alreadi play import role provis | global | financi insur billion pledg reserv |
| financ | initi provid import complement imf | financ | think way region resourc well |
| countri | weak regulatori supervisori framework mani | countri | failur risk manag system larg |
| market | system larg financi institut breakdown | market | disciplin reform need mani front |
| need | institut breakdown market disciplin reform | need | mani front address weak protect |
| need | time run adopt sweep chang | need | truli reshap global financi system |
| global | sweep chang need truli reshap | global | financi system financi market recov |
| market | reshap global financi system financi | market | recov bank becom profit memori |
| need | fade rais risk polit momentum | need | push signific reform dissip market |
| market | need push signific reform dissip | market | alreadi seem sens worri return |
| also | fact corpor relat low leverag | also | major factor asia must let |
| polici | adopt macroprudenti approach supervis region | polici | maker also ensur new global |
| also | approach supervis region polici maker | also | ensur new global standard emerg |
| global | polici maker also ensur new | global | standard emerg regulatori supervisori framework |
| also | coher framework crossbord crisi manag | also | hope asia draw wrong lesson |
| market | move ahead develop asia financi | market | particular capit market critic make |
| market | asia financi market particular capit | market | critic make best use region |
| global | strengthen intern collabor emerg new | global | govern framework lent critic support |
| polici | take central role foster intern | polici | dialogu advanc reform initi much |
| countri | reform initi much broader set | countri | sit decisionmak tabl thank asia |
| global | platform make valuabl contribut reshap | global | financi architectur next year asia |
| global | asia high expect region lead | global | economi new period sustain strong |
| economi | high expect region lead global | economi | new period sustain strong growth |
| growth | economi new period sustain strong | growth | govern reform imf import part |
| global | part creat inclus henc stronger | global | govern framework quota reform agre |
| countri | framework quota reform agre underrepres | countri | asia stand gain near percentag |
| market | percent quota toward dynam emerg | market | develop countri hope shift complet |
| countri | toward dynam emerg market develop | countri | hope shift complet earli look |
| polici | whole rang macroeconom financi sector | polici | affect global stabil also assess |
| global | macroeconom financi sector polici affect | global | stabil also assess imf could |
| also | sector polici affect global stabil | also | assess imf could provid better |
| polici | provid support g mutual assess | polici | also task assess option financi |
| also | support g mutual assess polici | also | task assess option financi sector |
| countri | group emin person various asian | countri | look group provid insight develop |
| also | imf best help meet challeng | also | seek way strengthen link region |
| countri | allow us match condit borrow | countri | better new imfsupport program sri |
| financ | sri lanka mongolia provid critic | financ | address balanc payment pressur meet |
| global | better inclus thus stronger system | global | govern asia chang bring tremend |
| global | tremend opportun contribut reshap postcrisi | global | economi inde carri respons help |
| economi | opportun contribut reshap postcrisi global | economi | inde carri respons help craft |
| global | inde carri respons help craft | global | solut need secur strong sustain |
| need | respons help craft global solut | need | secur strong sustain growth long |
| growth | solut need secur strong sustain | growth | long term imf chang allow |
| countri | generat number regulatori supervisori respons | countri | direct affect crisi take number |
| market | immedi action support institut financi | market | time intern communiti regul supervisor |
| polici | regul supervisor focus enhanc regulatori | polici | reduc likelihood futur crise strong |
| countri | took place context crisi affect | countri | region includ korea host measur |
| countri | capac identifi risk vulner member | countri | financi sector infrastructur subsequ global |
| global | countri financi sector infrastructur subsequ | global | financi stabil report introduc imf |
| global | contribut better understand trend risk | global | financi sector obvious prevent crise |
| countri | strengthen crisi respons manag framework | countri | pleas note econom activ korea |
| econom | manag framework countri pleas note | econom | activ korea gather strength region |
| econom | activ korea gather strength region | econom | outlook observ asia rebound fast |
| countri | system back strong initi condit | countri | economi bank balanc sheet asia |
| economi | back strong initi condit countri | economi | bank balanc sheet asia project |
| economi | percent much higher predict g | economi | short record region past decad |
| global | heavi depend export continu weak | global | demand would consider impact asia |
| growth | would consider impact asia futur | growth | ii take stock global polici |
| global | futur growth ii take stock | global | polici responseslet look back g |
| polici | growth ii take stock global | polici | responseslet look back g countri |
| countri | polici responseslet look back g | countri | respond past year half overal |
| countri | design address fragil bank system | countri | sinc octob g govern direct |
| market | action restor creditor confid stabil | market | restructur bank system even g |
| countri | restructur bank system even g | countri | direct affect crisi review exist |
| polici | framework ensur suffici robust view | polici | action financi crisi tie three |
| polici | critic compon resolv bank under | polici | action expect framework cooper coordin |
| polici | involv well effect public communic | polici | object let briefli summar action |
| countri | object let briefli summar action | countri | done meet three object number |
| polici | done meet three object number | polici | measur taken address crisi contain |
| market | success rais privat equiti capit | market | nonetheless mani bank system remain |
| need | general agreement among bank supervisor | need | rais qualiti quantiti bank capit |
| countri | test addit number individu g | countri | undertak stress test key domest |
| global | undertak stress test key domest | global | privat financi institut govern confront |
| need | final respect communic cooper continu | need | ensur good communic polici among |
| polici | continu need ensur good communic | polici | among countri sensit consequ action |
| countri | ensur good communic polici among | countri | sensit consequ action one countri |
| countri | countri sensit consequ action one | countri | countri benefit recogn domest constraint |
| countri | sensit consequ action one countri | countri | benefit recogn domest constraint time |
| polici | forum emerg import vehicl coordin | polici | action taken g help underpin |
| polici | manag framework remain incomplet formal | polici | cooper remain earli stage larg |
| countri | percept consist reform program across | countri | iii look ahead financi sector |
| need | reform agendaregul first one clear | need | bank hold high qualiti capit |
| need | liquid risk longer suffici bank | need | hold suffici liquid asset provid |
| market | risk assum less regul institut | market | exposur regul institut institut third |
| need | simpl even cost precis solut | need | understand market must abl implement |
| market | cost precis solut need understand | market | must abl implement global eas |
| global | understand market must abl implement | global | eas promot effect disclosur fourth |
| need | fourth area reform better disclosur | need | must stress better certain import |
| market | better certain import disclosur import | market | disciplin also need ensur disclos |
| also | import disclosur import market disciplin | also | need ensur disclos inform accur |
| need | disclosur import market disciplin also | need | ensur disclos inform accur inform |
| global | common databas compar financi statist | global | activ bank would also substanti |
| also | statist global activ bank would | also | substanti benefit strengthen market disciplin |
| market | would also substanti benefit strengthen | market | disciplin final last definit least |
| need | disciplin final last definit least | need | effect collabor address challeng pose |
| countri | action two front coordin prevent | countri | agre crisi manag arrang addit |
| need | nation regulatori legal tradit nonetheless | need | concret action field add mani |
| countri | across globe rais import question | countri | similar financi regulatori system fare |
| polici | may simpli qualiti supervis import | polici | take away deliber enhanc prudenti |
| need | effect supervis follow compon supervisor | need | clear object mandat oper independ |
| also | train retain skill supervisor may | also | lack protect nuisanc legal action |
| countri | emerg risk firm level systemwid | countri | appropri supervisori tool focus individu |
| countri | regul firm play rule seen | countri | general given appropri legal author |
| also | supervisor take time appropri action | also | enhanc account resolutionth fourth pillar |
| countri | even bigger process address crisi | countri | result creation larg institut assist |
| market | penalti failur credibl iv emerg | market | concernsit also clear us fund |
| also | credibl iv emerg market concernsit | also | clear us fund appropri combin |
| countri | fund appropri combin measur vari | countri | region alway tradeoff need assess |
| need | vari countri region alway tradeoff | need | assess polici mix learn past |
| polici | region alway tradeoff need assess | polici | mix learn past experi intern |
| countri | integr fast contagion mani emerg | countri | includ asian region alreadi make |
| market | innov impact financi stabil emerg | market | concern institut could face surg |
| countri | collaps mani lend firm develop | countri | awar concern medic kill patient |
| countri | impos cost unneed effort emerg | countri | sometim unwant effect develop still |
| market | effect develop still incipi financi | market | exampl securit emerg countri process |
| countri | financi market exampl securit emerg | countri | process care cautious progress develop |
| market | care cautious progress develop securit | market | derail broad brush taint financi |
| market | brush taint financi activ develop | market | emerg market countri branch major |
| market | financi activ develop market emerg | market | countri branch major bank may |
| countri | activ develop market emerg market | countri | branch major bank may view |
| countri | parent bank get troubl home | countri | supervisor may alway keep host |
| countri | regard parent true oblig host | countri | keep supervisor home countri inform |
| countri | host countri keep supervisor home | countri | inform problem highlight need greater |
| need | home countri inform problem highlight | need | greater communic cooper among home |
| market | home host author import emerg | market | countri monitor domest intern market |
| countri | host author import emerg market | countri | monitor domest intern market event |
| market | market countri monitor domest intern | market | event continu basi make time |
| need | intervent adopt necessari regulatori enhanc | need | intern recommend evolv use avail |
| market | intern recommend manner reflect domest | market | condit challeng combin nonprotectionist approach |
| global | remarksat fund deepli involv ongo | global | effort enhanc regulatori supervisori crisi |
| market | assess system import financi institut | market | instrument continu partner conduct period |
| also | conduct period earli warn exercis | also | collabor basel committe world bank |
| also | develop methodolog assess complianc g | also | task us expand fsap surveil |
| also | introduc nimbl modular version fsap | also | develop risk base approach financi |
| need | financi standard assess time recogn | need | provid strong capac build technic |
| countri | devot proportion resourc work member | countri | continu support essenti need strengthen |
| need | member countri continu support essenti | need | strengthen supervis recommend caution urg |
| polici | broader work agenda come period | polici | steer group imfc ask us |
| polici | whole rang macroeconom financi sector | polici | affect global stabil assess whether |
| global | macroeconom financi sector polici affect | global | stabil assess whether fund enhanc |
| financ | stabil assess whether fund enhanc | financ | instrument flexibl credit line could |
| global | line could help address question | global | imbal reduc need countri selfinsur |
| need | address question global imbal reduc | need | countri selfinsur crisi build larg |
| countri | question global imbal reduc need | countri | selfinsur crisi build larg foreign |
| polici | help mutual assess consist nation | polici | repres new kind multilater surveil |
| global | surveil deliv strong stabl sustain | global | growth endors propos govern reform |
| growth | deliv strong stabl sustain global | growth | endors propos govern reform agre |
| market | quota share toward dynam emerg | market | develop countri least percent overrepres |
| countri | toward dynam emerg market develop | countri | least percent overrepres underrepres countri |
| countri | countri least percent overrepres underrepres | countri | januari context ongo discuss govern |
| market | great comfort us major emerg | market | given right place intern polici |
| polici | market given right place intern | polici | make standard set bodi like |
| polici | valuabl input base experi ongo | polici | consider import time korea taken |
| global | policymak exchang view issu relat | global | economi imf best everi year |
| economi | exchang view issu relat global | economi | imf best everi year put |
| also | paper besid th anniversari confer | also | joy achiev econom polici employ |
| econom | anniversari confer also joy achiev | econom | polici employ past year mani |
| polici | confer also joy achiev econom | polici | employ past year mani predict |
| global | year mani predict doom gloom | global | economi year ago thank time |
| economi | mani predict doom gloom global | economi | year ago thank time effect |
| polici | year ago thank time effect | polici | intervent global level worst avoid |
| global | thank time effect polici intervent | global | level worst avoid cannot deni |
| polici | deni longterm difficulti associ unpreced | polici | measur adopt altern would wors |
| polici | altern would wors sure numer | polici | challeng ahead us need put |
| need | numer polici challeng ahead us | need | put best econom mind work |
| econom | ahead us need put best | econom | mind work help us think |
| need | one import lesson pain learn | need | much better understand macrofinanci linkag |
| economi | linkag heart twoway interact real | economi | financi system vulner stem financi |
| economi | amplifi macroeconom shock weak real | economi | undermin stabil financi sector macrofinanci |
| polici | effect tradit monetari fiscal regulatori | polici | crisi show sharp fluctuat asset |
| growth | sharp fluctuat asset price rapid | growth | credit surg capit flow profound |
| economi | capit flow profound effect real | economi | wit past two year develop |
| global | two year develop turn bring | global | financi system brink collaps lead |
| economi | system brink collaps lead world | economi | deep prolong recess happi see |
| countri | kept think decis made member | countri | latest imfworld bank annual meet |
| global | program help membership shape postcrisi | global | financi system see three broad |
| need | decis first theme see program | need | better grasp critic role financi |
| economi | sheet rapid result difficulti real | economi | forc govern undertak radic polici |
| polici | economi forc govern undertak radic | polici | measur vivid seen latest crisi |
| economi | studi implic balancesheet adjust real | economi | context broader research program macrofinanci |
| polici | whole rang macroeconom financi sector | polici | affect health global economi review |
| global | financi sector polici affect health | global | economi review process util result |
| economi | sector polici affect health global | economi | review process util result recent |
| polici | linkag order help membership devis | polici | promot global financi stabil econom |
| global | help membership devis polici promot | global | financi stabil econom growth second |
| econom | polici promot global financi stabil | econom | growth second theme discuss confer |
| growth | promot global financi stabil econom | growth | second theme discuss confer import |
| global | import understand financi crisi spread | global | although financi flow deliv mani |
| econom | financi flow deliv mani longterm | econom | benefit also creat import challeng |
| also | deliv mani longterm econom benefit | also | creat import challeng policymak exampl |
| countri | channel transmit financi turmoil advanc | countri | shore emerg market cannot overemphas |
| market | turmoil advanc countri shore emerg | market | cannot overemphas import employ sound |
| polici | cannot overemphas import employ sound | polici | nation global level order meet |
| global | import employ sound polici nation | global | level order meet challeng stem |
| growth | challeng stem financi flow enjoy | growth | benefit imf acut awar challeng |
| global | play critic role support coordin | global | polici go forward coordin global |
| polici | critic role support coordin global | polici | go forward coordin global level |
| global | global polici go forward coordin | global | level requir new mechan respons |
| countri | meet imf help group twenti | countri | mutual assess econom financi polici |
| econom | group twenti countri mutual assess | econom | financi polici particular object develop |
| polici | countri mutual assess econom financi | polici | particular object develop forwardlook analysi |
| polici | object develop forwardlook analysi whether | polici | collect consist sustain balanc trajectori |
| global | collect consist sustain balanc trajectori | global | economi repres brand new role |
| economi | consist sustain balanc trajectori global | economi | repres brand new role fund |
| global | prevent respons crise high integr | global | economi paper prepar mundellflem lectur |
| economi | respons crise high integr global | economi | paper prepar mundellflem lectur draw |
| polici | crisi paper deriv thought provok | polici | implic make case import financi |
| polici | crise fund work hard develop | polici | mitig advers effect financi crise |
| global | one import lesson latest episod | global | economi need much better polici |
| economi | import lesson latest episod global | economi | need much better polici financi |
| need | lesson latest episod global economi | need | much better polici financi regul |
| polici | global economi need much better | polici | financi regul supervis also need |
| also | better polici financi regul supervis | also | need insur fund arrang place |
| need | polici financi regul supervis also | need | insur fund arrang place provid |
| countri | arrang place provid rapid relief | countri | affect crisi observ much spirit |
| countri | credit line facil provid insur | countri | need global lender last resort |
| need | line facil provid insur countri | need | global lender last resort research |
| global | facil provid insur countri need | global | lender last resort research one |
| global | particular time given incipi sign | global | economi turn corner would like |
| economi | time given incipi sign global | economi | turn corner would like thank |
| economi | govern opportun discuss outlook lao | economi | focus comment today overview global |
| global | economi focus comment today overview | global | econom outlook well opportun challeng |
| econom | focus comment today overview global | econom | outlook well opportun challeng may |
| global | present lao p d r | global | econom develop outlook start latest |
| econom | lao p d r global | econom | develop outlook start latest assess |
| global | develop outlook start latest assess | global | econom develop increas sign global |
| econom | outlook start latest assess global | econom | develop increas sign global recess |
| global | global econom develop increas sign | global | recess bottom larg part result |
| polici | bottom larg part result unpreced | polici | action emerg economi appear somewhat |
| economi | result unpreced polici action emerg | economi | appear somewhat ahead road recoveri |
| market | return consum confid firmer hous | market | prospect improv commod price stage |
| global | world trade begin pick howev | global | economi far wood yet financi |
| economi | trade begin pick howev global | economi | far wood yet financi market |
| market | economi far wood yet financi | market | remain strain like remain impair |
| polici | consider time come support public | polici | eventu withdrawn household economi suffer |
| economi | public polici eventu withdrawn household | economi | suffer asset price bust continu |
| global | possibl setback along way given | global | economi reduc capac absorb new |
| economi | setback along way given global | economi | reduc capac absorb new shock |
| growth | absorb new shock moreov mediumterm | growth | unlik return high level experienc |
| economi | experienc precrisi implic emerg develop | economi | extern demand growth latest project |
| growth | emerg develop economi extern demand | growth | latest project world output project |
| economi | follow contract around percent advanc | economi | project expand sluggish  ¼ |
| economi | continu rise later year emerg | economi | real gdp growth forecast reach |
| growth | year emerg economi real gdp | growth | forecast reach almost percent driven |
| economi | most china india emerg asian | economi | stronger global prospect turn inventori |
| global | india emerg asian economi stronger | global | prospect turn inventori cycl expect |
| growth | lift commod price rais incom | growth | prospect commod export economi lao |
| economi | incom growth prospect commod export | economi | lao p d r under |
| econom | inflat lao p d r | econom | outlook impact global slowdown lao |
| global | d r econom outlook impact | global | slowdown lao p d r |
| countri | d r somewhat smaller neighbor | countri | due low exposur global financi |
| global | neighbor countri due low exposur | global | financi market also boost provid |
| market | due low exposur global financi | market | also boost provid sizabl fiscal |
| also | low exposur global financi market | also | boost provid sizabl fiscal expans |
| growth | expans oneoff event sea game | growth | expect remain robust come among |
| econom | softer tourism fall commod price | econom | activ project alreadi train strong |
| growth | strong public invest expect support | growth | rang  ½ percent given |
| global | ½ percent given recent posit | global | develop especi asia region risk |
| growth | develop especi asia region risk | growth | previous downsid probabl come balanc |
| need | project sea game gradual wind | need | supplant privat invest continu strain |
| global | supplant privat invest continu strain | global | financi market could hold back |
| market | invest continu strain global financi | market | could hold back invest especi |
| growth | intens resourc sector project lead | growth | lower hand strengthen global demand |
| global | lead growth lower hand strengthen | global | demand rise commod price could |
| growth | bring return foreign invest boost | growth | let paus emphas key point |
| growth | paus emphas key point risk | growth | somewhat balanc risk macroeconom stabil |
| polici | macroeconom stabil result excess loos | polici | remain public invest soar fuel |
| growth | public invest soar fuel credit | growth | juli near percent yearonyear dollar |
| economi | juli near percent yearonyear dollar | economi | lao p d r spend |
| polici | keep exchang rate depreci howev | polici | option entail signific risk rapid |
| economi | foreign reserv could use shield | economi | case extern shock fact polici |
| polici | economi case extern shock fact | polici | option signific risk attach lie |
| polici | attach lie behind recommend rein | polici | level preserv macroeconom stabil navig |
| polici | visibl goe almost without say | polici | make high uncertain global environ |
| global | say polici make high uncertain | global | environ much difficult boom time |
| polici | recent articl iv staff report | polici | past month somewhat over expansionari |
| growth | over expansionari skew toward maintain | growth | despit heighten risk vulner fulli |
| polici | put place set wellcoordin realist | polici | ensur macroeconom stabil preserv protect |
| also | protect gain achiev recent year | also | set stage continu growth poverti |
| growth | year also set stage continu | growth | poverti reduct year come stillunsettl |
| global | poverti reduct year come stillunsettl | global | environ impli polici make need |
| polici | come stillunsettl global environ impli | polici | make need remain flexibl vulner |
| need | global environ impli polici make | need | remain flexibl vulner present potenti |
| need | remain flexibl vulner present potenti | need | care assess manag end would |
| polici | assess manag end would suggest | polici | guid follow consider fiscal polici |
| polici | polici guid follow consider fiscal | polici | offici budget fy may need |
| need | polici offici budget fy may | need | review revenu target appear ambiti |
| financ | percent gdp lower budget domest | financ | expenditur includ identifi offbudget oper |
| financ | percent gdp higher event domest | financ | excess percentag point gdp would |
| polici | would requir monetari exchang rate | polici | notwithstand welcom announc curtail new |
| need | bol direct lend renew effort | need | contain current pace credit expans |
| growth | current pace credit expans excess | growth | credit reach percent juli larg |
| need | especi view stillweak balanc sheet | need | recapit bank sector light high |
| growth | bank sector light high credit | growth | tighten liquid slower econom activ |
| econom | credit growth tighten liquid slower | econom | activ bank sector warrant close |
| also | relat activ smaller new entrant | also | expand loan book rapid enter |
| econom | sme lend segment vulner dip | econom | activ sudden revers deposit could |
| global | nearterm challeng probabl appropri given | global | economi struggl emerg signific slowdown |
| economi | challeng probabl appropri given global | economi | struggl emerg signific slowdown mani |
| growth | structur reform agenda achiev sustain | growth | poverti reduct maintain momentum key |
| also | climat foster greater privatesector particip | also | improv competit bolster investor confid |
| polici | p d r best possibl | polici | advic support stillunsettl time |
| global | honor delight opportun speak third | global | confer intern tax dialogu topic |
| economi | member itd recent event world | economi | made even clear necess intern |
| econom | clear necess intern cooper experienceshar | econom | matter includ least taxat reason |
| also | air taxat financi sector beij | also | function dissemin repositori inform matter |
| also | world expand websit import itd | also | serv well vehicl bring togeth |
| countri | various agenc involv system member | countri | regard gratifi watch expans itd |
| growth | import financi sector macroeconom stabil | growth | reach develop goal modern economi |
| economi | growth reach develop goal modern | economi | without financi sector credit could |
| econom | speak today background worst financi | econom | crisi strike world three generat |
| financ | individu use debt rather equiti | financ | thus like contribut crisi lead |
| also | shock likewis tax distort may | also | encourag develop complex opaqu financi |
| economi | magnitud fiscal challeng face world | economi | greater time sinc world war |
| economi | balanc percentag point gdp advanc | economi | close cannot accomplish expenditur reduct |
| need | reduct new increas sourc revenu | need | found averag perhap percentag point |
| polici | account gap necessari adjust tax | polici | degre hitherto seen wide scale |
| economi | seen wide scale although world | economi | remain weak downsid risk much |
| countri | junctur therefor begin work plan | countri | exit deterior fiscal posit develop |
| polici | rais question regard interact tax | polici | administr perform financi sector first |
| polici | first foremost role better tax | polici | administr play prevent recurr terribl |
| econom | prevent recurr terribl cost episod | econom | histori import thing look forward |
| economi | continu critic link develop world | economi | certain wit key role play |
| market | play sector acceler develop emerg | market | mani prior recent episod grown |
| economi | rate unparallel histori world vulner | economi | continu financi deepen absolut necessari |
| countri | consid role taxat industri develop | countri | respect goal confer address role |
| growth | sourc revenu broader role develop | growth | world economi also function assist |
| economi | broader role develop growth world | economi | also function assist administr tax |
| also | role develop growth world economi | also | function assist administr tax system |
| econom | function tax system rais revenu | econom | effici nondistortionari administr feasibl manner |
| market | manner even fulli recogn exist | market | failur policyinduc vulner financi sector |
| economi | taxat may world high develop | economi | greatest depth financi intermedi equal |
| global | past year | global | financi crisi subject intens debat |
| econom | intens debat today instead dwell | econom | risk would like turn instead |
| econom | instead anoth import topic relationship | econom | stabil peac abid belief intim |
| econom | peac necessari precondit trade sustain | econom | growth prosper turn econom stabil |
| growth | necessari precondit trade sustain econom | growth | prosper turn econom stabil rise |
| econom | sustain econom growth prosper turn | econom | stabil rise prosper broad share |
| countri | prosper broad share within among | countri | foster peac like happen atmospher |
| econom | foster peac like happen atmospher | econom | cooper open multilater approach econom |
| econom | econom cooper open multilater approach | econom | polit problem ultim peac prosper |
| econom | war recent mani part world | econom | instabl provok polit upheav social |
| global | sinc great depress long ago | global | economi stood edg abyss collaps |
| economi | great depress long ago global | economi | stood edg abyss collaps lehman |
| econom | brother uncertainti turn outright panic | econom | activ start collaps peopl rais |
| growth | turn hope seem turn corner | growth | engin start latest project suggest |
| global | engin start latest project suggest | global | econom activ expand percent mere |
| econom | start latest project suggest global | econom | activ expand percent mere accid |
| econom | policymak world import unpreced degre | econom | polici cooper face crisi countri |
| polici | world import unpreced degre econom | polici | cooper face crisi countri came |
| countri | econom polici cooper face crisi | countri | came togeth face common challeng |
| global | common challeng common solut focus | global | common good saw fiscal polici |
| polici | global common good saw fiscal | polici | monetari polici financi sector polici |
| polici | good saw fiscal polici monetari | polici | financi sector polici collabor encompass |
| polici | polici monetari polici financi sector | polici | collabor encompass countri ever histori |
| countri | financi sector polici collabor encompass | countri | ever histori show us modern |
| global | ever histori show us modern | global | world respons econom polici agenda |
| econom | us modern global world respons | econom | polici agenda longer rest small |
| polici | modern global world respons econom | polici | agenda longer rest small club |
| countri | agenda longer rest small club | countri | crisi herald ascent g group |
| economi | g group includ dynam emerg | economi | lead vehicl multilater cooper challeng |
| countri | achiev optim rise recoveri horizon | countri | may tempt go way abandon |
| global | back pittsburgh g leader stress | global | collect interest must alway infus |
| polici | interest must alway infus nation | polici | decis multilater hope stay imf |
| global | play part multilater respons promot | global | public good econom stabil crisi |
| econom | respons promot global public good | econom | stabil crisi hit sent first |
| financ | substanti crisi unfold scale emerg | financ | dramat inject unpreced amount liquid |
| polici | support intern respons crisi forecast | polici | advic tri play part calm |
| polici | ask us help mutual assess | polici | goal adapt need postcrisi world |
| need | mutual assess polici goal adapt | need | postcrisi world cours effect must |
| market | quota share toward dynam emerg | market | develop countri least five percent |
| countri | toward dynam emerg market develop | countri | least five percent overrepres underrepres |
| countri | least five percent overrepres underrepres | countri | boost legitimaci repres signific payment |
| econom | crisi mean mani risk remain | econom | activ still depend polici support |
| polici | remain econom activ still depend | polici | support prematur withdraw support could |
| growth | support could kill recoveri even | growth | recov take time job follow |
| econom | take time job follow suit | econom | instabl continu threaten social stabil |
| countri | stabil stake particular high lowincom | countri | colleagu unit nation world bank |
| econom | lower purchas power life death | econom | margin destitut could lead social |
| countri | secur peac particular import lowincom | countri | war might justifi call develop |
| growth | war increas poverti war reduc | growth | potenti destroy infrastructur well financi |
| countri | war weaken institut war one | countri | neighbor countri includ influx refuge |
| countri | institut war one countri neighbor | countri | includ influx refuge war sinc |
| countri | knock  ½ percentag point | countri | growth rate sinc averag civil |
| growth | Â ½ percentag point countri | growth | rate sinc averag civil war |
| economi | civil war last year mean | economi | percent smaller would peac cours |
| also | suffer alway accompani war causal | also | run way war devast economi |
| economi | also run way war devast | economi | weak economi make countri prone |
| economi | way war devast economi weak | economi | make countri prone war evid |
| countri | devast economi weak economi make | countri | prone war evid quit clear |
| econom | clear point low incom slow | econom | growth increas risk countri fall |
| growth | point low incom slow econom | growth | increas risk countri fall civil |
| countri | slow econom growth increas risk | countri | fall civil conflict poverti econom |
| econom | countri fall civil conflict poverti | econom | stagnat lead peopl becom margin |
| economi | becom margin without stake product | economi | littl hope employ decent standard |
| also | violent activ depend natur resourc | also | risk factor competit control resourc |
| financ | trigger conflict incom natur resourc | financ | war see vicious circl war |
| econom | see vicious circl war make | econom | condit prospect wors weaken institut |
| countri | imf help broad level help | countri | maintain consolid econom stabil obvious |
| econom | level help countri maintain consolid | econom | stabil obvious way provid financ |
| financ | econom stabil obvious way provid | financ | need without govern might forc |
| need | stabil obvious way provid financ | need | without govern might forc cut |
| econom | safeti net essenti public servic | econom | activ might disrupt employ opportun |
| countri | diminish imf deliv support lowincom | countri | next year two three time |
| countri | concession lend lend made differ | countri | sustain program engag past two |
| growth | two decad saw bigger boost | growth | without involv tri better still |
| countri | still reform way lend lowincom | countri | make lend flexibl better tailor |
| countri | lend flexibl better tailor individu | countri | circumst lend program countri alway |
| countri | individu countri circumst lend program | countri | alway emphas poverti reduct protect |
| countri | protect vulner pleas note lowincom | countri | program back imf budget higher |
| also | poor one top prioriti imf | also | place great emphasi good govern |
| countri | good govern percent condit lowincom | countri | program focus improv public resourc |
| also | improv public resourc manag account | also | provid advic technic assist resourcerich |
| countri | provid advic technic assist resourcerich | countri | allow better manag revenu contribut |
| also | revenu contribut social stabil imf | also | extend special help countri postconflict |
| countri | imf also extend special help | countri | postconflict fragil situat lend technic |
| econom | assist help rebuild strengthen institut | econom | manag essenti element state build |
| countri | flexibl emerg lend facil use | countri | come conflict sure imf role |
| also | imf role limit one support | also | open door muchneed aid flow |
| econom | first world war instead promot | econom | cooper motiv myopic consider particular |
| econom | term treati versaill sow seed | econom | ruin germani turn one caus |
| polici | one founder imf strong condemn | polici | reduc germani servitud generat degrad |
| countri | expect believ prosper happi one | countri | promot other solidar man fiction |
| countri | man fiction keyn admonit ignor | countri | instead embrac econom selfinterest retreat |
| econom | admonit ignor countri instead embrac | econom | selfinterest retreat isolation follow unpreced |
| global | retreat isolation follow unpreced collaps | global | econom activ dire social polit |
| econom | isolation follow unpreced collaps global | econom | activ dire social polit consequ |
| econom | activ dire social polit consequ | econom | warfar soon led real warfar |
| countri | left ten million dead mani | countri | around world ruin war nation |
| econom | past embrac multilater cooper approach | econom | financi polici leader want creat |
| polici | multilater cooper approach econom financi | polici | leader want creat new world |
| econom | leader embark upon remark process | econom | polit integr determin forev banish |
| econom | develop comprehens social safeti net | econom | social stabil cement peac imf |
| econom | milieu dedic peac cooper mandat | econom | stabil promot monetari cooper facilit |
| global | employ benefit peopl would overse | global | financi system lend member balanc |
| need | system lend member balanc payment | need | understood stabil would come peac |
| econom | link peac share prosper denounc | econom | polici interwar year declar econom |
| polici | peac share prosper denounc econom | polici | interwar year declar econom aggress |
| econom | econom polici interwar year declar | econom | aggress offspr war danger futil |
| econom | offspr war danger futil know | econom | conflict must develop nation endeavor |
| econom | develop nation endeavor separ deal | econom | ill intern scope legaci stem |
| global | speak emin audienc pivot time | global | econom financi affair talk today |
| econom | emin audienc pivot time global | econom | financi affair talk today first |
| global | talk today first review impact | global | crisi east asia financi macroeconom |
| growth | could anticip base histor correl | growth | asian advanc western economi fourth |
| economi | correl growth asian advanc western | economi | fourth quarter gdp asia exclud |
| countri | stage first spillov financi stress | countri | epicent crisi intern bank flow |
| market | fund briefli spill domest money | market | revers privat flow follow collaps |
| countri | contract around percent mani asian | countri | percent japan final extern shock |
| econom | invest instanc consumpt rebound asian | econom | activ taken mani observ surpris |
| global | observ surpris inde asia lead | global | recoveri industri product exportdepend asia |
| countri | septemb even return precrisi level | countri | includ korea rebound seem driven |
| also | rebound export volum domest demand | also | play part asia rebound meanwhil |
| global | play part asia rebound meanwhil | global | financi condit eas provid boost |
| polici | pick let turn first three | polici | question crisi taught us financi |
| also | agre set correct action crisi | also | reveal shortcom regul supervis liquid |
| also | know excess relianc wholesal fund | also | issu asian countri particular korea |
| countri | wholesal fund also issu asian | countri | particular korea australia new zealand |
| financ | rule reduc bank relianc shortterm | financ | crisi stark illumin interconnected financi |
| countri | financi stabil lenderoflastresort facil mani | countri | handl differ agenc countri reignit |
| countri | mani countri handl differ agenc | countri | reignit debat whether central bank |
| financ | central bank expect provid except | financ | crisi charg crisi prevent obtain |
| countri | function argument easili dismiss fact | countri | includ korea led set formal |
| polici | led set formal framework facilit | polici | coordin inform exchang govern regul |
| also | govern regul central bank howev | also | strong argument financi stabil mandat |
| also | regim bring next point crisi | also | led reassess connect financi stabil |
| polici | reassess connect financi stabil monetari | polici | believ lax monetari polici role |
| polici | monetari polici believ lax monetari | polici | role predomin one creat current |
| also | lead confus commit inflat fight | also | monetari polici rather blunt tool |
| polici | commit inflat fight also monetari | polici | rather blunt tool first line |
| need | asset bubbl central bank may | need | will past use tradit monetari |
| polici | will past use tradit monetari | polici | tool lean unsustain increas credit |
| countri | regul hold import lesson korea | countri | embark widerang deregul financi sector |
| market | enact financi invest servic capit | market | act februari act remov restrict |
| economi | intermedi particular new dynam sector | economi | howev go hand hand abil |
| need | emerg context regulatori supervisori capac | need | keep pace market growth rapid |
| market | supervisori capac need keep pace | market | growth rapid innov turn second |
| growth | capac need keep pace market | growth | rapid innov turn second question |
| polici | sustain asian rebound implic exit | polici | sustain current upswingmani includ fund |
| econom | proven wrong strike rebound asian | econom | activ sure strength activ taken |
| growth | unlik maintain momentum recent month | growth | may return precrisi level soon |
| global | rebound consider extent driven restock | global | inventori peak current crisi product |
| financ | final demand part disrupt trade | financ | result inventori reach histor low |
| econom | histor low mani part world | econom | activ see today rebuild stock |
| economi | unless final demand recov asia | economi | also support larg fiscal stimulus |
| also | final demand recov asia economi | also | support larg fiscal stimulus measur |
| countri | fiscal respons larger averag g | countri | export industri product benefit car |
| economi | stimulus go long major advanc | economi | debt level project rise percent |
| also | gdp steep exchang rate devalu | also | support recoveri countri like last |
| countri | rate devalu also support recoveri | countri | like last korea case point |
| market | strong export reflect part gain | market | share rather increas global demand |
| global | gain market share rather increas | global | demand return exchang rate nearer |
| growth | export like contribut much less | growth | asia remain depend demand u |
| countri | china becom assembl hub western | countri | remain final destin use inputoutput |
| economi | rival exposur u demand advanc | economi | remain import project remain weak |
| economi | project remain weak time advanc | economi | grow potenti impli rise unemploy |
| need | consum demand addit western consum | need | repair overextend balanc sheet even |
| economi | balanc sheet even demand advanc | economi | bounc back quick potenti growth |
| growth | economi bounc back quick potenti | growth | could lower time given major |
| growth | three percent far cri percent | growth | record asia project grow  |
| polici | b exit policiesthi bring exit | polici | time exit polici correct challeng |
| polici | bring exit polici time exit | polici | correct challeng difficult tell policydriven |
| econom | policydriven rebound genuin turn point | econom | activ privat sector back selfsustain |
| also | let exchang rate appreci would | also | help contain asset bubbl also |
| also | also help contain asset bubbl | also | seem earli exit accommod fiscal |
| polici | seem earli exit accommod fiscal | polici | asia substanti scope fiscal stimulus |
| countri | substanti scope fiscal stimulus mani | countri | contrast mani advanc economi outsid |
| economi | mani countri contrast mani advanc | economi | outsid region also postpon fiscal |
| also | mani advanc economi outsid region | also | postpon fiscal adjust time recoveri |
| polici | crisi facilit coordin introduct unpreced | polici | measur howev recoveri may less |
| polici | less synchron particular leakag fiscal | polici | could lead freerid problem suboptim |
| also | lead freerid problem suboptim provis | also | spillov monetari polici requir care |
| polici | suboptim provis also spillov monetari | polici | requir care coordin intern level |
| polici | intern level ensur consist nation | polici | g leader agre pittsburg process |
| global | imf ask report regular g | global | econom develop pattern growth suggest |
| econom | ask report regular g global | econom | develop pattern growth suggest polici |
| growth | g global econom develop pattern | growth | suggest polici adjust build exist |
| polici | econom develop pattern growth suggest | polici | adjust build exist bilater multilater |
| growth | share thought east asia sourc | growth | medium term close relat question |
| also | close relat question reserv accumul | also | touch upon mediumterm sourc growthov |
| global | mediumterm sourc growthov past year | global | asian growth power u consum |
| growth | growthov past year global asian | growth | power u consum reduc save |
| need | burst hous bubbl western consum | need | repair balanc sheet fact alreadi |
| market | consum go forward asia emerg | market | far reli success exportl growth |
| growth | market far reli success exportl | growth | strategi howev strategi may less |
| economi | success year come simpli possibl | economi | boost current account balanc time |
| growth | asia may reli domest sourc | growth | china scope rais domest demand |
| also | let exchang rate appreci would | also | help shift econom activ capit |
| econom | appreci would also help shift | econom | activ capit intens export sector |
| economi | share incom contribut consumpt gdp | economi | asia notabl korea japan less |
| countri | save rate alreadi quit low | countri | face larg demograph pressur like |
| countri | pressur like reduc save howev | countri | nontrad sector neglect decad context |
| growth | sector neglect decad context exportl | growth | strategi could becom signific sourc |
| growth | strategi could becom signific sourc | growth | sever ingredi key effort b |
| global | reserv accumulationanoth problem relat rebalanc | global | growth reserv accumul usual requir |
| growth | accumulationanoth problem relat rebalanc global | growth | reserv accumul usual requir current |
| countri | sure take away crisi lesson | countri | accumul even reserv conclus question |
| need | rather see various way reduc | need | selfinsur countri level sound econom |
| countri | various way reduc need selfinsur | countri | level sound econom polici clear |
| econom | need selfinsur countri level sound | econom | polici clear reduc need insur |
| polici | selfinsur countri level sound econom | polici | clear reduc need insur time |
| need | sound econom polici clear reduc | need | insur time polici credibl enhanc |
| polici | clear reduc need insur time | polici | credibl enhanc confid currenc strengthen |
| global | degre risk diversif could achiev | global | level inde recognit need strengthen |
| need | achiev global level inde recognit | need | strengthen system insur mechan g |
| countri | imf lend resourc billion asian | countri | among main contributor far also |
| also | countri among main contributor far | also | past year number step taken |
| global | recent tripl still smaller share | global | gdp even smaller share global |
| global | global gdp even smaller share | global | capit flow fund creat addit |
| market | increas quota voic underrepres emerg | market | economi reform agre april need |
| economi | quota voic underrepres emerg market | economi | reform agre april need approv |
| need | market economi reform agre april | need | approv prompt first step ongo |
| countri | step improv represent emerg develop | countri | januari istanbul imf member made |
| market | shift quota share dynam emerg | market | develop countri least five percent |
| countri | share dynam emerg market develop | countri | least five percent overrepres countri |
| countri | countri least five percent overrepres | countri | underrepres countri conclud remarkssummaryin remark |
| countri | five percent overrepres countri underrepres | countri | conclud remarkssummaryin remark today goal |
| polici | tenet financi sector supervis monetari | polici | argu current setup name central |
| need | current intern practic clear mark | need | reform term global growth seem |
| global | clear mark need reform term | global | growth seem global economi turn |
| growth | mark need reform term global | growth | seem global economi turn corner |
| global | reform term global growth seem | global | economi turn corner forget far |
| economi | term global growth seem global | economi | turn corner forget far main |
| polici | forget far main due massiv | polici | support right fact polici maker |
| polici | massiv polici support right fact | polici | maker respons start formul exit |
| polici | maker respons start formul exit | polici | mean implement clear sign recoveri |
| global | decad u consum major sourc | global | growth import implic asia exportl |
| growth | u consum major sourc global | growth | import implic asia exportl growth |
| growth | growth import implic asia exportl | growth | model role intern institut includ |
| polici | role intern institut includ imf | polici | coordin provid insur |
| global | san francisco invit speak asia | global | financi crisi remain midst except |
| global | destruct stun declin industri product | global | trade worrisom increas unemploy met |
| polici | worrisom increas unemploy met unpreced | polici | respons scale anticrisi measur level |
| polici | past year palpabl sens forc | polici | action succeed stave even negat |
| econom | case expect detail latest world | econom | outlook anticip renew global expans |
| global | world econom outlook anticip renew | global | expans prudent keep mind global |
| global | global expans prudent keep mind | global | economi still face consider risk |
| economi | expans prudent keep mind global | economi | still face consider risk challeng |
| global | fact fundament shift underway alreadi | global | econom govern involv new organ |
| econom | fundament shift underway alreadi global | econom | govern involv new organ new |
| econom | fundament changesi sure awar basic | econom | fact asia despit relat strong |
| global | direct expos financi asset epicent | global | crisi asia sever affect sharp |
| global | unit state europ trade implic | global | downturn reverber asian suppli chain |
| financ | chain capit flow region trade | financ | stall measur peak trough real |
| global | exclud china india indonesia fortun | global | economi begun pull recess asia |
| economi | china india indonesia fortun global | economi | begun pull recess asia look |
| econom | stronger region imf recent world | econom | outlook forecast global econom contract |
| global | recent world econom outlook forecast | global | econom contract percent year expans |
| econom | world econom outlook forecast global | econom | contract percent year expans around |
| economi | percent strike three fastest grow | economi | g asia china india indonesia |
| growth | percent indonesia percent year asid | growth | asia well measur econom indic |
| econom | asid growth asia well measur | econom | indic exampl inflat virtual disappear |
| also | Â ½ one percentag point | also | employ loss asia much milder |
| financ | larg return toward normalci trade | financ | flow follow abrupt collaps end |
| economi | follow abrupt collaps end fact | economi | largest initi contract socal newli |
| economi | initi contract socal newli industri | economi | korea singapor hong kong larg |
| economi | high tech manufactur trade advanc | economi | u downturn trigger outsiz fall |
| financ | fall asia gdp intern trade | financ | froze normal process generat rapid |
| also | rapid strong asian upturn recoveri | also | reflect quick forc polici action |
| polici | recoveri also reflect quick forc | polici | action region includ monetari eas |
| countri | monetari eas currenc flexibl mani | countri | substanti fiscal stimulus fact larger |
| countri | fact larger g averag asian | countri | also provid substanti financi sector |
| also | larger g averag asian countri | also | provid substanti financi sector support |
| financ | guarante backstop issuanc bank wholesal | financ | offer cover corpor borrow foreign |
| also | crosscurr swap case feder reserv | also | help eas pressur region final |
| economi | slump much region resili asian | economi | crisi substanti contribut global growth |
| global | asian economi crisi substanti contribut | global | growth recent year region import |
| growth | economi crisi substanti contribut global | growth | recent year region import intern |
| global | transform intern fora exampl discuss | global | econom cooper would seem hollow |
| econom | intern fora exampl discuss global | econom | cooper would seem hollow china |
| economi | china like world third largest | economi | absent come surpris g six |
| econom | design premier leadership forum intern | econom | cooper among largest economi chang |
| economi | intern econom cooper among largest | economi | chang also underway regard asia |
| also | cooper among largest economi chang | also | underway regard asia role imf |
| global | larger voic accord grow weight | global | economi reform imf quota agre |
| economi | voic accord grow weight global | economi | reform imf quota agre april |
| countri | quota agre april underrepres asian | countri | stand gain near percentag point |
| global | gain expect asia rise influenc | global | economi also mirror financi assist |
| economi | expect asia rise influenc global | economi | also mirror financi assist rest |
| also | asia rise influenc global economi | also | mirror financi assist rest world |
| countri | well note purchas agreement support | countri | combat balanc payment pressur brought |
| econom | payment pressur brought crisi reshap | econom | govern time integr part broader |
| global | integr part broader effort reform | global | econom financi framework thus lay |
| econom | part broader effort reform global | econom | financi framework thus lay foundat |
| growth | foundat strong balanc henc sustain | growth | futur global cooper necessari effort |
| global | balanc henc sustain growth futur | global | cooper necessari effort success challeng |
| global | postcrisi world princip nearterm risk | global | recoveri could stall could occur |
| polici | occur privat demand pick replac | polici | stimulus inventori restock recent key |
| growth | inventori restock recent key driver | growth | polici support therefor remain place |
| polici | restock recent key driver growth | polici | support therefor remain place durabl |
| countri | place durabl recoveri secur asian | countri | particular advanc exportdepend economi experienc |
| economi | asian countri particular advanc exportdepend | economi | experienc relat larg cyclic weaken |
| countri | consolid plan plan particular relev | countri | start relat high debt level |
| economi | fiscal pressur japan newli industri | economi | korea singapor hong kong sar |
| countri | provinc china even averag asian | countri | without fiscal adjust debttogdp ratio |
| polici | increas far nearterm tighten monetari | polici | would prematur countri except action |
| countri | tighten monetari polici would prematur | countri | except action may appropri sooner |
| countri | reserv bank becom first major | countri | central bank rais interest rate |
| growth | industri product recov rapid china | growth | acceler extraordinari pace loan growth |
| growth | growth acceler extraordinari pace loan | growth | first half rais risk futur |
| global | longer horizon signific risk anem | global | demand polici choic mutual support |
| polici | signific risk anem global demand | polici | choic mutual support achiev sustain |
| growth | mutual support achiev sustain healthi | growth | countri depend critic rebalanc pattern |
| countri | support achiev sustain healthi growth | countri | depend critic rebalanc pattern global |
| global | countri depend critic rebalanc pattern | global | demand publicsector support growth privat |
| growth | pattern global demand publicsector support | growth | privat sectorsupport growth also relat |
| growth | publicsector support growth privat sectorsupport | growth | also relat relianc extern demand |
| also | support growth privat sectorsupport growth | also | relat relianc extern demand domest |
| countri | extern demand domest demand surplus | countri | revers deficit countri polici collabor |
| countri | demand surplus countri revers deficit | countri | polici collabor could help insur |
| polici | surplus countri revers deficit countri | polici | collabor could help insur process |
| countri | fashion china well emerg asian | countri | run larg current account surplus |
| polici | surplus author indic intent emphas | polici | support increas domest demand includ |
| countri | reform increas exchang rate flexibl | countri | region also help process rebalanc |
| also | exchang rate flexibl countri region | also | help process rebalanc process involv |
| market | invest industri gear toward domest | market | time improv corpor govern financi |
| growth | help continu improv product support | growth | particular research highlight imf octob |
| econom | imf octob asia pacif region | econom | outlook note improv corpor govern |
| global | level corpor save asia contribut | global | rebalanc global governancein pittsburgh g |
| global | save asia contribut global rebalanc | global | governancein pittsburgh g leader state |
| polici | g leader state clear commit | polici | collabor order effect address difficult |
| growth | ahead framework strong sustain balanc | growth | includ cooper peerreview process mutual |
| countri | cooper peerreview process mutual assess | countri | polici framework ask imf assist |
| polici | peerreview process mutual assess countri | polici | framework ask imf assist process |
| countri | forwardlook analysi overal consist individu | countri | polici framework overal goal balanc |
| polici | analysi overal consist individu countri | polici | framework overal goal balanc sustain |
| global | framework overal goal balanc sustain | global | growth imf consider experi analyz |
| growth | overal goal balanc sustain global | growth | imf consider experi analyz member |
| polici | imf consider experi analyz member | polici | framework implic global econom financi |
| global | analyz member polici framework implic | global | econom financi stabil uniqu surveil |
| econom | member polici framework implic global | econom | financi stabil uniqu surveil background |
| polici | provid time critic input intern | polici | debat exampl call earli signific |
| also | traction effect multilater surveil fund | also | engag relev initi launch earli |
| polici | fsb focus system tail risk | polici | remedi would appropri risk emerg |
| econom | help facilit collabor approach share | econom | problem imf also contribut stabl |
| also | approach share econom problem imf | also | contribut stabl intern monetari system |
| global | stabl intern monetari system postcrisi | global | economi provid evenhand independ surveil |
| economi | intern monetari system postcrisi global | economi | provid evenhand independ surveil adequ |
| market | boost g help assur emerg | market | develop countri view reflect fair |
| countri | help assur emerg market develop | countri | view reflect fair reform includ |
| global | align voic represent member weight | global | economi mention earlier underrepres asian |
| economi | voic represent member weight global | economi | mention earlier underrepres asian countri |
| countri | economi mention earlier underrepres asian | countri | gain percentag point fund quota |
| economi | import involv direct mani asian | economi | reserv accumul save surplus well |
| countri | save surplus well know mani | countri | rapid built offici foreign exchang |
| global | payment primarili capit account shock | global | econom effici would enhanc imf |
| econom | primarili capit account shock global | econom | effici would enhanc imf abl |
| countri | imf abl provid insur demand | countri | doubt amount avail financ condit |
| financ | demand countri doubt amount avail | financ | condit attach financ encourag selfinsur |
| financ | amount avail financ condit attach | financ | encourag selfinsur self insur cost |
| countri | encourag selfinsur self insur cost | countri | level given foregon domest absorpt |
| polici | absorpt complic monetari exchang rate | polici | intern level countri wish build |
| countri | exchang rate polici intern level | countri | wish build reserv tend generat |
| global | simultan one result would dampen | global | recoveri key institut endors global |
| global | global recoveri key institut endors | global | communiti meet financi need economi |
| need | endors global communiti meet financi | need | economi crisi imf respons offer |
| economi | global communiti meet financi need | economi | crisi imf respons offer effect |
| polici | altern self insur imf lend | polici | recent overhaul make respons evolv |
| need | recent overhaul make respons evolv | need | member countri import introduct flexibl |
| countri | make respons evolv need member | countri | import introduct flexibl credit line |
| polici | preemptiv insur facil member strong | polici | mexico poland colombia use facil |
| market | use facil decis wellreceiv intern | market | asian countri mongolia sri lanka |
| countri | decis wellreceiv intern market asian | countri | mongolia sri lanka tradit imf |
| financ | exampl enhanc predict access crisi | financ | cours crisisprevent instrument must back |
| countri | unpreced amount support broad array | countri | help stabil market date commit |
| market | broad array countri help stabil | market | date commit fund total twice |
| market | far crisi may enough reassur | market | member particular emerg asian countri |
| countri | market member particular emerg asian | countri | accumul reserv selfinsur motiv would |
| economi | vote share januari conclusionin conclus | economi | recov crisi fallout us year |
| global | crisi time fundament chang underway | global | econom govern bode well futur |
| econom | time fundament chang underway global | econom | govern bode well futur polici |
| polici | econom govern bode well futur | polici | maker come togeth challeng time |
| growth | best produc strong sustain balanc | growth | wide recogn challeng restor global |
| global | growth wide recogn challeng restor | global | growth wake current crisi requir |
| growth | wide recogn challeng restor global | growth | wake current crisi requir reinvigor |
| growth | fiscal sustain time promot balanc | growth | shift relat sourc expans domest |
| economi | domest extern demand surplus deficit | economi | moreov recent pittsburgh leader summit |
| econom | committe imfc endors mutual assess | econom | polici conduct g economi initi |
| polici | imfc endors mutual assess econom | polici | conduct g economi initi repres |
| economi | assess econom polici conduct g | economi | initi repres import opportun help |
| polici | repres import opportun help make | polici | recoveri beyond mutual consist support |
| polici | process cours focus confer shortterm | polici | challeng longerterm issu sustain growth |
| growth | polici challeng longerterm issu sustain | growth | session focus various forc influenc |
| econom | session focus various forc influenc | econom | growth topic remain critic one |
| growth | focus various forc influenc econom | growth | topic remain critic one one |
| growth | key east asia sustain strong | growth | broad growth success stori sinc |
| growth | asia sustain strong growth broad | growth | success stori sinc nonetheless effort |
| growth | nonetheless effort pin precis determin | growth | acceler episod general held inconclus |
| growth | greater consensus factor tend imped | growth | exampl excess expansionari fiscal monetari |
| polici | exampl excess expansionari fiscal monetari | polici | proven damag growth prospect despit |
| growth | fiscal monetari polici proven damag | growth | prospect despit doubt financi liber |
| also | life current crisi financi repress | also | proven consist repres anoth import |
| growth | import impedi strong sustain balanc | growth | remark today review briefli current |
| financ | review briefli current view role | financ | econom growth particular ll discuss |
| econom | briefli current view role financ | econom | growth particular ll discuss implic |
| growth | current view role financ econom | growth | particular ll discuss implic view |
| growth | financi open support innov invest | growth | implement regul effect supervis limit |
| financ | risk financi excess instabl role | financ | growth develop debatei would like |
| growth | financi excess instabl role financ | growth | develop debatei would like begin |
| financ | path break monograph money theori | financ | build semin american econom review |
| econom | theori financ build semin american | econom | review articl place financ monetari |
| financ | american econom review articl place | financ | monetari counterpart modern theoret framework |
| econom | role substanti overlook essenti determin | econom | growth consensus view time financ |
| growth | substanti overlook essenti determin econom | growth | consensus view time financ best |
| financ | econom growth consensus view time | financ | best second order consider look |
| growth | vain financi variabl solow canon | growth | model almost work follow wake |
| econom | work follow wake time key | econom | develop typic portray get real |
| econom | save exampl paul rosensteinrodan articl | econom | foreign aid repres complet antithesi |
| growth | expect aid flow deriv year | growth | rate forecast ron mckinnon join |
| econom | emphas role financi system promot | econom | growth notabl volum money capit |
| growth | role financi system promot econom | growth | notabl volum money capit econom |
| econom | growth notabl volum money capit | econom | develop theme also central shaw |
| also | money capit econom develop theme | also | central shaw financi deepen econom |
| econom | also central shaw financi deepen | econom | develop publish year cours took |
| econom | viewpoint take hold perhap poor | econom | perform encourag reexamin mani longheld |
| growth | inappropri capitaloutput ratio thus mute | growth | second failur develop effect secur |
| market | second failur develop effect secur | market | impli excess relianc tradit bank |
| countri | tendenc toward instabl crisi mani | countri | learn lesson hard way particular |
| economi | high inflat afflict mani advanc | economi | debt crise latin america elsewher |
| econom | role modern financi system process | econom | growth develop scholar varieti perspect |
| growth | modern financi system process econom | growth | develop scholar varieti perspect found |
| polici | money measur relat gdp increas | polici | propos encourag financi system develop |
| also | credit contract two research stream | also | contribut shift view regard role |
| financ | contribut shift view regard role | financ | raghu rajan luigi zingal show |
| financ | luigi zingal show avail outsid | financ | retain earn decis impact cours |
| financ | becam notabl forc particular share | financ | us economi grew signific spillov |
| economi | forc particular share financ us | economi | grew signific spillov effect advanc |
| economi | grew signific spillov effect advanc | economi | securit process acceler strike boost |
| market | strike boost rapid develop deriv | market | incent clearcut robert merton argu |
| need | capit financi institut other would | need | hold cushion potenti loss financi |
| global | manag fulli perceiv heed doubt | global | financi crisi creat incipi intellectu |
| market | howev fair say idea financi | market | perfect selfregul repres novel insight |
| market | effect supervis improv balanc strengthen | market | safeguard moreov high differenti perform |
| growth | measur specif impact financi develop | growth | time broad consensus regard direct |
| need | time broad consensus regard direct | need | reform financi sector regul uncertainti |
| market | issu settl practic decis policymak | market | particip american experiencewith somewhat unsatisfactori |
| econom | knowledg perhap product look briefli | econom | histori least broad defin particular |
| financ | defin particular interest find role | financ | us econom develop great reassess |
| econom | interest find role financ us | econom | develop great reassess sinc gurley |
| econom | financi sector crucial earli us | econom | develop us lack near element |
| countri | bank unit state help manag | countri | credit establish uniform currenc us |
| also | innov time bank high competit | also | profit number bank rose alreadi |
| market | telephon well creation truli nation | market | wellrun bank wealth nation rediscov |
| market | effici earli pre american capit | market | fact subject light regul moreov |
| market | approach england list secur equiti | market | capit similar countri list includ |
| countri | secur equiti market capit similar | countri | list includ pioneer sector includ |
| market | th centuri led improv regul | market | structur cours progress inevit forward |
| also | insur model bernank gertler aer | also | help illumin financi panic various |
| polici | way histor research influenc practic | polici | choic research impli current conjunctur |
| growth | lesson first financi develop critic | growth | develop instanc transit predomin agricultur |
| economi | develop instanc transit predomin agricultur | economi | sustain diversifi growth taken place |
| growth | predomin agricultur economi sustain diversifi | growth | taken place without wellfunct system |
| econom | posit relationship financi system develop | econom | growth third financi crise impact |
| growth | relationship financi system develop econom | growth | third financi crise impact suppress |
| polici | sever financi sector repress autark | polici | clear cost econom growth develop |
| econom | repress autark polici clear cost | econom | growth develop word basic conclus |
| growth | autark polici clear cost econom | growth | develop word basic conclus gurley |
| economi | loss experienc current crisi effect | economi | rais question polici choic moreov |
| polici | crisi effect economi rais question | polici | choic moreov debat futur financ |
| financ | polici choic moreov debat futur | financ | unit state europ elsewher continu |
| market | general point challeng face emerg | market | say word current debat issu |
| market | bank size limit implic emerg | market | one strike point lead emerg |
| market | one strike point lead emerg | market | economi recent global crisi undermin |
| economi | strike point lead emerg market | economi | recent global crisi undermin author |
| global | lead emerg market economi recent | global | crisi undermin author confid growth |
| growth | global crisi undermin author confid | growth | open economi polici accompani financi |
| economi | undermin author confid growth open | economi | polici accompani financi system develop |
| polici | author confid growth open economi | polici | accompani financi system develop three |
| polici | improv improv manag fiscal monetari | polici | bolster resili larg emerg market |
| market | polici bolster resili larg emerg | market | economi extern shock allow perspect |
| economi | bolster resili larg emerg market | economi | extern shock allow perspect respons |
| market | respons crisi second larg emerg | market | economi yet fulli liber financi |
| economi | crisi second larg emerg market | economi | yet fulli liber financi market |
| market | economi yet fulli liber financi | market | one lesson imf drew emerg |
| market | one lesson imf drew emerg | market | financi crise late import strengthen |
| market | financi system expos complet intern | market | aid among thing financi sector |
| economi | memori distort difficulti creat past | economi | system thus author emerg market |
| market | economi system thus author emerg | market | economi like follow cautious approach |
| economi | system thus author emerg market | economi | like follow cautious approach develop |
| market | develop financi system includ complet | market | well strengthen regul supervis like |
| market | time financi system mani emerg | market | economi somewhat insul intern influenc |
| economi | financi system mani emerg market | economi | somewhat insul intern influenc protect |
| market | complet resili financi system emerg | market | economi doubt would support stronger |
| economi | resili financi system emerg market | economi | doubt would support stronger stabl |
| growth | doubt would support stronger stabl | growth | also would help avoid financi |
| also | would support stronger stabl growth | also | would help avoid financi crise |
| economi | effect occur past crise emerg | economi | produc steep output loss revers |
| economi | improv financi sector major emerg | economi | far assur fact posit previous |
| market | role g brought major emerg | market | author relev polici discuss unpreced |
| polici | major emerg market author relev | polici | discuss unpreced degre moreov creation |
| global | first time direct process negoti | global | regulatori supervisori reform reassess matur |
| economi | look unfold recent crisi advanc | economi | financi system clear major financi |
| market | reform undoubt involv return normal | market | process wherebi firm follow better |
| market | doubt two broad factor normal | market | forc structur reform combin produc |
| polici | potenti risk given thought prospect | polici | action tail risk scenario appear |
| countri | studi whether support facil member | countri | improv particular new flexibl credit |
| global | institut conclud remarksin sum new | global | econom financi system evolv rapid |
| econom | conclud remarksin sum new global | econom | financi system evolv rapid pace |
| econom | financi system play key role | econom | develop growth today well accept |
| growth | play key role econom develop | growth | today well accept understand process |
| growth | develop achiev strong sustain balanc | growth | thus macrofinanci studi group research |
| market | research depart work monetari capit | market | depart push understand forward area |
| also | depart push understand forward area | also | reach institut academ partner sure |
| financ | g edward shaw money theori | financ | washington brook institut gurley j |
| econom | g shaw e financi aspect | econom | develop american econom review vol |
| econom | financi aspect econom develop american | econom | review vol pp rosensteinrodan paul |
| countri | rosensteinrodan paul intern aid underdevelop | countri | review econom statist xliii pp |
| econom | intern aid underdevelop countri review | econom | statist xliii pp mckinnon ronald |
| econom | ronald edward shaw money capit | econom | develop brook institut edward shaw |
| econom | institut edward shaw financi deepen | econom | develop oxford univers press king |
| financ | king robert g levin ross | financ | growth schumpet might right quarter |
| growth | robert g levin ross financ | growth | schumpet might right quarter journal |
| econom | schumpet might right quarter journal | econom | levin financi develop econom growth |
| econom | journal econom levin financi develop | econom | growth view agenda journal econom |
| growth | econom levin financi develop econom | growth | view agenda journal econom literatur |
| econom | econom growth view agenda journal | econom | literatur june levin ross zervo |
| market | levin ross zervo sara stock | market | bank econom growth american econom |
| econom | zervo sara stock market bank | econom | growth american econom review june |
| growth | sara stock market bank econom | growth | american econom review june rajan |
| econom | market bank econom growth american | econom | review june rajan ragusa g |
| growth | g luigi zingal financi depend | growth | american econom review la porta |
| econom | zingal financi depend growth american | econom | review la porta rafael lopezdesilan |
| financ | andrei vishni robert w law | financ | journal polit economi decemb toma |
| economi | w law financ journal polit | economi | decemb toma phillipon evolut us |
| financ | regul financi institut journal bank | financ | juli sylla richard financi system |
| econom | juli sylla richard financi system | econom | modern journal econom histori new |
| econom | financi system econom modern journal | econom | histori new york cambridg univers |
| econom | peter histor perspect financi develop | econom | growth feder reserv bank st |
| growth | histor perspect financi develop econom | growth | feder reserv bank st loui |
| also | bank st loui review see | also | sylla rousseau emerg financi market |
| market | also sylla rousseau emerg financi | market | earli us growth explor econom |
| growth | emerg financi market earli us | growth | explor econom histori pp contrast |
| econom | market earli us growth explor | econom | histori pp contrast among english |
| market | rediscov integr expans american financi | market | diamond dougla w philip h |
| economi | deposit insur liquid journal polit | economi | univers chicago press vol pp |
| econom | worth busi cycl fluctuat american | econom | review volum march bernank ben |
| econom | crisi propag great depress american | econom | review volum june |
| global | bridg east west apt choic | global | world intern cooper pave way |
| econom | met fall lehman brother occur | econom | activ world start go free |
| countri | chang signific chang face crisi | countri | came togeth face common challeng |
| global | common challeng common solut focus | global | common good stand defin moment |
| need | postcrisi world meet challeng ahead | need | adapt chang countri level intern |
| countri | challeng ahead need adapt chang | countri | level intern level imf theme |
| global | want discuss today let begin | global | economi think turn corner financi |
| economi | discuss today let begin global | economi | think turn corner financi condit |
| growth | corner financi condit improv substanti | growth | engin seem start latest project |
| global | seem start latest project suggest | global | econom activ expand percent contract |
| econom | start latest project suggest global | econom | activ expand percent contract percent |
| need | ahead postcrisi world must differ | need | adapt realiti adopt polici lead |
| polici | differ need adapt realiti adopt | polici | lead sustain broadbas growth start |
| growth | adopt polici lead sustain broadbas | growth | start crisi recoveri sluggish privat |
| countri | side consumpt still tentat especi | countri | household balanc sheet remain weak |
| growth | like cast long shadow even | growth | recov take time job follow |
| countri | inde unemploy continu rise mani | countri | stake particular high lowincom countri |
| countri | countri stake particular high lowincom | countri | million peopl may push extrem |
| global | social unrest polit instabl war | global | economi remain precari posit prematur |
| economi | unrest polit instabl war global | economi | remain precari posit prematur withdraw |
| polici | remain precari posit prematur withdraw | polici | support could kill recoveri sure |
| need | financi sector must slow still | need | fulli recogn loss increas bank |
| also | unless happen recoveri remain threat | also | need follow effort make financi |
| need | happen recoveri remain threat also | need | follow effort make financi system |
| need | import institut look beyond crisi | need | rebal global growth u consum |
| global | look beyond crisi need rebal | global | growth u consum use support |
| growth | beyond crisi need rebal global | growth | u consum use support global |
| global | growth u consum use support | global | economi household save rate unit |
| economi | u consum use support global | economi | household save rate unit state |
| global | elev time scenario respons power | global | growth engin fall countri particular |
| growth | time scenario respons power global | growth | engin fall countri particular reli |
| countri | power global growth engin fall | countri | particular reli exportl growth make |
| growth | fall countri particular reli exportl | growth | make transit easi econom turnaround |
| econom | exportl growth make transit easi | econom | turnaround avoid catastroph accid result |
| global | catastroph accid result profound chang | global | govern past year seen unpreced |
| econom | past year seen unpreced degre | econom | polici collabor encompass countri ever |
| polici | year seen unpreced degre econom | polici | collabor encompass countri ever inde |
| countri | degre econom polici collabor encompass | countri | ever inde believ children grandchildren |
| polici | cooper stand legaci saw monetari | polici | central bank cooper sometim inform |
| polici | cut swap line saw fiscal | polici | countri requisit fiscal space deliv |
| countri | swap line saw fiscal polici | countri | requisit fiscal space deliv percent |
| global | fiscal space deliv percent gdp | global | fiscal stimulus advis imf think |
| growth | stimulus advis imf think third | growth | gain stimulus came act coordin |
| global | deal financi sector problem modern | global | world longer make sens global |
| global | global world longer make sens | global | econom polici concern small group |
| econom | world longer make sens global | econom | polici concern small group countri |
| polici | longer make sens global econom | polici | concern small group countri reflect |
| countri | econom polici concern small group | countri | reflect new realiti one great |
| economi | g group includ dynam emerg | economi | leadership g har immens polici |
| polici | economi leadership g har immens | polici | cooper throughout world recent pittsburgh |
| global | recent pittsburgh g leader emphas | global | collect interest must alway infus |
| polici | interest must alway infus nation | polici | decis must build momentum g |
| countri | g repres g still mani | countri | left especi africa countri membership |
| countri | mani countri left especi africa | countri | membership countri includ lowincom countri |
| countri | left especi africa countri membership | countri | includ lowincom countri home billion |
| countri | countri membership countri includ lowincom | countri | home billion still live poverti |
| econom | billion still live poverti remain | econom | margin voic must heard deserv |
| global | voic must heard deserv stake | global | economi need cooper among countri |
| economi | must heard deserv stake global | economi | need cooper among countri world |
| need | heard deserv stake global economi | need | cooper among countri world imf |
| countri | global economi need cooper among | countri | world imf uniqu mandat place |
| global | bequeath us found father mandat | global | econom stabil peac prosper chang |
| econom | us found father mandat global | econom | stabil peac prosper chang past |
| financ | let touch highlight step emerg | financ | dramat commit amount twice much |
| global | extra liquid special draw right | global | economi scale concession lend billion |
| economi | liquid special draw right global | economi | scale concession lend billion includ |
| countri | crisi lend zero interest lowincom | countri | end introduc new flexibl credit |
| financ | credit line grant rapid upfront | financ | larg amount countri proven track |
| countri | rapid upfront financ larg amount | countri | proven track record addit condit |
| polici | program streamlin condit focus core | polici | measur critic macroeconom stabil growth |
| growth | polici measur critic macroeconom stabil | growth | accommod higher budget deficit concession |
| financ | four key reform area mandat | financ | role multilater surveil govern briefli |
| need | let call istanbul decis first | need | review mandat imf encompass whole |
| polici | whole rang macroeconom financi sector | polici | affect global stabil crisi littl |
| global | macroeconom financi sector polici affect | global | stabil crisi littl current account |
| need | flow extend everi corner world | need | broader mandat second need build |
| need | world need broader mandat second | need | build success flexibl credit line |
| countri | flexibl credit line provid insur | countri | absenc facil led mani emerg |
| market | absenc facil led mani emerg | market | selfinsur build excess larg buffer |
| global | foreign reserv contribut instabl foster | global | imbal hinder shift exportl growth |
| growth | global imbal hinder shift exportl | growth | domest demand someth necessari balanc |
| growth | domest demand someth necessari balanc | growth | futur imfc ask us assess |
| financ | ask us assess whether enhanc | financ | instrument might help address problem |
| global | address problem founder imf envisag | global | lender last resort role imf |
| polici | propos imf help mutual assess | polici | repres new kind multilater surveil |
| also | run joint financi stabil board | also | help us refin understand tail |
| also | includ crossbord dimens fourth imfc | also | endors big step forward govern |
| market | quota share toward dynam emerg | market | develop countri least five percent |
| countri | toward dynam emerg market develop | countri | least five percent overrepres underrepres |
| countri | least five percent overrepres underrepres | countri | done januari boost legitimaci repres |
| need | futur implement past reform lag | need | countri pass legisl relat quota |
| countri | implement past reform lag need | countri | pass legisl relat quota voic |
| countri | relat quota voic reform urg | countri | move ahead quick possibl conclud |
| global | last year year immens chang | global | economi global govern imf chang |
| economi | year year immens chang global | economi | global govern imf chang reflect |
| global | year immens chang global economi | global | govern imf chang reflect spirit |
| countri | chang reflect spirit cooper among | countri | believ lesson histori clear turn |
| countri | momentum must continu repres member | countri | know need chang adapt new |
| need | continu repres member countri know | need | chang adapt new postcrisi world |
| need | know must rememb institut respond | need | want effect possibl governor honor |
| also | crisi year come terribl crisi | also | provid us histor opportun reshap |
| global | provid us histor opportun reshap | global | econom financi framework thus lay |
| econom | us histor opportun reshap global | econom | financi framework thus lay foundat |
| econom | thus lay foundat strong sustain | econom | growth go forward decis taken |
| growth | lay foundat strong sustain econom | growth | go forward decis taken recent |
| global | leader provid world tool adapt | global | econom cooper need st centuri |
| econom | provid world tool adapt global | econom | cooper need st centuri includ |
| need | tool adapt global econom cooper | need | st centuri includ give new |
| economi | includ give new voic emerg | economi | new mandat imf also bolster |
| also | emerg economi new mandat imf | also | bolster fund abil support endeavor |
| global | leader came togeth creat new | global | order advanc peac econom cooper |
| econom | new global order advanc peac | econom | cooper establish unit nation bretton |
| global | benefit mani generat come recogn | global | world demand global cooper econom |
| global | come recogn global world demand | global | cooper econom financi matter leader |
| econom | global world demand global cooper | econom | financi matter leader commit work |
| global | peac us take challeng reshap | global | econom financi framework keep key |
| econom | us take challeng reshap global | econom | financi framework keep key object |
| growth | object firm focus name obtain | growth | balanc thus sustain word must |
| polici | postcrisi world manner first intern | polici | collabor essenti second financi stabil |
| global | monetari system must stabl anchor | global | lender last resort let begin |
| econom | last resort let begin word | econom | backdrop outlook nearterm help set |
| polici | nearterm help set stage remark | polici | imper hard exagger damag inflict |
| market | exagger damag inflict crisi asset | market | sold across world decim save |
| global | decim save countless ordinari citizen | global | econom activ trade experienc steepest |
| econom | save countless ordinari citizen global | econom | activ trade experienc steepest drop |
| economi | world war ii unemploy oecd | economi | reach postwar record high million |
| countri | record high million peopl lowincom | countri | may push extrem poverti account |
| global | extrem poverti account crisi fortun | global | economi alreadi embark recoveri growth |
| economi | poverti account crisi fortun global | economi | alreadi embark recoveri growth slow |
| growth | global economi alreadi embark recoveri | growth | slow percent fragil even risk |
| growth | risk appear reced medium term | growth | like remain modest lower previous |
| economi | could happen privat demand advanc | economi | weak take main engin growth |
| growth | economi weak take main engin | growth | polici stimulus inventori restock drive |
| polici | weak take main engin growth | polici | stimulus inventori restock drive recoveri |
| also | drive recoveri far lose steam | also | risk revers financi market particular |
| market | steam also risk revers financi | market | particular nonperform loan increas expect |
| also | increas expect cours thing may | also | turn better expect favor surpris |
| econom | certain get wors howev unemploy | econom | problem affect demand serious social |
| economi | thrown million peopl work advanc | economi | follow unemploy continu rise next |
| polici | unemploy continu rise next year | polici | support labor demand exampl temporari |
| economi | put shorttim alreadi work mani | economi | stem job loss countri adopt |
| countri | mani economi stem job loss | countri | adopt measur also activ labor |
| also | job loss countri adopt measur | also | activ labor market polici job |
| market | adopt measur also activ labor | market | polici job search assist train |
| polici | measur also activ labor market | polici | job search assist train would |
| countri | avoid prematur withdraw stimulus mean | countri | delay prepar eventu unwind crisi |
| polici | prepar essenti ensur credibl macroeconom | polici | go forward particular address legitim |
| global | principl support effort build better | global | econom financi framework first principl |
| econom | support effort build better global | econom | financi framework first principl intern |
| polici | financi framework first principl intern | polici | collabor must essenti element postcrisi |
| global | collabor must essenti element postcrisi | global | economi collabor critic resolv crisi |
| economi | must essenti element postcrisi global | economi | collabor critic resolv crisi critic |
| growth | critic achiev strong sustain balanc | growth | futur last year resolut rapid |
| polici | last year resolut rapid action | polici | maker across globe instrument avert |
| market | arrest declin output stabil financi | market | countri also work togeth toward |
| countri | declin output stabil financi market | countri | also work togeth toward adopt |
| also | output stabil financi market countri | also | work togeth toward adopt sweep |
| econom | sweep reform financi sector head | econom | recoveri countri must continu work |
| countri | financi sector head econom recoveri | countri | must continu work togeth achiev |
| econom | togeth achiev success transit normal | econom | condit unlik crisi made sens |
| polici | time expect time sequenc normal | polici | vari across countri nation pace |
| countri | sequenc normal polici vari across | countri | nation pace econom recoveri financi |
| econom | vari across countri nation pace | econom | recoveri financi sector repair well |
| polici | financi sector repair well avail | polici | space matter howev consid import |
| countri | space matter howev consid import | countri | adopt common principl unwind crisisrel |
| polici | support measur longer horizon intern | polici | collabor remain essenti achiev balanc |
| econom | essenti achiev balanc henc sustain | econom | growth countri need part achiev |
| growth | achiev balanc henc sustain econom | growth | countri need part achiev goal |
| countri | balanc henc sustain econom growth | countri | need part achiev goal countri |
| need | henc sustain econom growth countri | need | part achiev goal countri save |
| countri | countri need part achiev goal | countri | save need increas other polici |
| need | part achiev goal countri save | need | increas other polici need support |
| polici | countri save need increas other | polici | need support increas domest demand |
| need | save need increas other polici | need | support increas domest demand includ |
| market | sphere crisi demonstr clear financi | market | institut global interconnect polici maker |
| global | demonstr clear financi market institut | global | interconnect polici maker one countri |
| polici | financi market institut global interconnect | polici | maker one countri could act |
| countri | global interconnect polici maker one | countri | could act unilater without consequ |
| countri | could act unilater without consequ | countri | postcrisi world danger protect economi |
| economi | countri postcrisi world danger protect | economi | system extern shock countri want |
| countri | protect economi system extern shock | countri | want ringfenc institut withdraw global |
| global | countri want ringfenc institut withdraw | global | market concern countri need taken |
| market | want ringfenc institut withdraw global | market | concern countri need taken serious |
| countri | institut withdraw global market concern | countri | need taken serious therefor redoubl |
| need | withdraw global market concern countri | need | taken serious therefor redoubl effort |
| countri | therefor redoubl effort find way | countri | benefit increas financi integr time |
| polici | g made strong commit intern | polici | collabor across wide rang polici |
| polici | polici collabor across wide rang | polici | area perhap import launch framework |
| growth | launch framework strong sustain balanc | growth | key element cooper process mutual |
| countri | process mutual assess peer review | countri | polici framework implic framework global |
| polici | mutual assess peer review countri | polici | framework implic framework global growth |
| global | countri polici framework implic framework | global | growth g leader also agre |
| growth | polici framework implic framework global | growth | g leader also agre ensur |
| also | framework global growth g leader | also | agre ensur regulatori system bank |
| polici | imf import role support intern | polici | collabor ask assist process mutual |
| polici | assess develop forwardlook analysi whether | polici | pursu individu countri collect consist |
| countri | analysi whether polici pursu individu | countri | collect consist sustain balanc trajectori |
| global | collect consist sustain balanc trajectori | global | economi leader note mutual assess |
| economi | consist sustain balanc trajectori global | economi | leader note mutual assess process |
| polici | support candid evenhand balanc analysi | polici | thus call imf support process |
| polici | requir fund assess consist member | polici | implic stabil global econom financi |
| global | consist member polici implic stabil | global | econom financi system surveil effort |
| econom | member polici implic stabil global | econom | financi system surveil effort allow |
| polici | us provid critic input intern | polici | debat exampl call earli signific |
| polici | recommend alway abl bring effect | polici | action regard g peer review |
| market | environ focus risk individu institut | market | potenti buildup system risk suffici |
| also | risk suffici appreci supervis problem | also | play role attitud privat sector |
| market | risk manag increas transpar promot | market | integr reinforc intern cooper work |
| need | integr reinforc intern cooper work | need | pittsburgh communiquà © leader g |
| market | risktak call improv overthecount deriv | market | improv transpar mitig system risk |
| market | transpar mitig system risk protect | market | abus final aim make signific |
| also | final aim make signific progress | also | end address problem relat crossbord |
| need | financi institut return immedi concern | need | move faster repair bank balanc |
| growth | credit creation worrisom knockon effect | growth | addit stress test bank balanc |
| need | test bank balanc sheet still | need | sever countri gain full understand |
| countri | balanc sheet still need sever | countri | gain full understand capit need |
| need | countri gain full understand capit | need | futur problem may aris get |
| also | aris get credit intermedi go | also | need restart securit market understand |
| need | get credit intermedi go also | need | restart securit market understand market |
| market | go also need restart securit | market | understand market gotten bad name |
| market | need restart securit market understand | market | gotten bad name result crisi |
| market | mess start howev proper regul | market | provid signific benefit name diversifi |
| countri | crisi financi develop emerg develop | countri | would tempt conclud modern financi |
| market | wrong conclus enabl bank capit | market | match saver investor within across |
| countri | match saver investor within across | countri | ever effici financi develop play |
| econom | develop play vital role support | econom | growth allow continu play dynam |
| growth | play vital role support econom | growth | allow continu play dynam role |
| market | time enemi reform concern financi | market | recov complac set also clear |
| also | financi market recov complac set | also | clear vision futur financi system |
| need | vision futur financi system regul | need | urgent reduc uncertainti boost confid |
| also | urgent reduc uncertainti boost confid | also | danger absenc new regulatori constraint |
| market | search higher return exampl emerg | market | flow harm per se rais |
| economi | risk sudden revers capit advanc | economi | embark monetari tighten anoth risk |
| economi | risk institut pose financi system | economi | larg therefor need urgent imf |
| need | financi system economi larg therefor | need | urgent imf global financi regul |
| global | larg therefor need urgent imf | global | financi regul ongo improv financi |
| also | sector surveil could help effort | also | modern financi sector assess program |
| econom | stabl financi system support sustain | econom | growth long term final let |
| growth | financi system support sustain econom | growth | long term final let put |
| global | forward third import principl postcrisi | global | economi need stabl intern monetari |
| economi | third import principl postcrisi global | economi | need stabl intern monetari system |
| need | import principl postcrisi global economi | need | stabl intern monetari system anchor |
| global | stabl intern monetari system anchor | global | lender last resort recent year |
| economi | offici foreign reserv primarili emerg | economi | also develop countri overal foreign |
| also | foreign reserv primarili emerg economi | also | develop countri overal foreign reserv |
| countri | primarili emerg economi also develop | countri | overal foreign reserv hold risen |
| countri | abl provid financi insur demand | countri | howev concern amount financ avail |
| financ | demand countri howev concern amount | financ | avail fund also condit attach |
| also | concern amount financ avail fund | also | condit attach financ caus countri |
| financ | avail fund also condit attach | financ | caus countri selfinsur instead selfinsur |
| countri | also condit attach financ caus | countri | selfinsur instead selfinsur oppos collect |
| countri | oppos collect financi insur cost | countri | level invest foreign reserv ineffici |
| also | could much higher social return | also | complic monetari exchang rate polici |
| polici | also complic monetari exchang rate | polici | sinc accumul reserv mean inject |
| also | domest liquid system stoke inflat | also | cost intern level countri wish |
| countri | inflat also cost intern level | countri | wish build reserv protect capit |
| growth | capit outflow tend follow exportl | growth | strategi produc current account surplus |
| global | account surplus turn contribut everwiden | global | imbal damag consequ sustain econom |
| econom | global imbal damag consequ sustain | econom | growth stabil intern monetari system |
| growth | imbal damag consequ sustain econom | growth | stabil intern monetari system recent |
| need | cost associ reserv accumul clear | need | reliabl emerg financ henc global |
| financ | accumul clear need reliabl emerg | financ | henc global lender last resort |
| global | need reliabl emerg financ henc | global | lender last resort believ fund |
| global | serv effect reliabl provid insur | global | communiti alreadi provid strong endors |
| need | imf key institut meet financi | need | economi crisi summit april g |
| economi | key institut meet financi need | economi | crisi summit april g call |
| countri | unpreced amount support broad array | countri | thus eras earlier doubt fund |
| financ | earlier doubt fund abil meet | financ | need date alreadi commit twice |
| need | doubt fund abil meet financ | need | date alreadi commit twice amount |
| also | twice amount lent asian crisi | also | made import chang lend instrument |
| polici | preemptiv insur facil member strong | polici | far mexico poland colombia use |
| market | take financi insur imf wellreceiv | market | reflect declin sovereign spread general |
| countri | instrument made respons condit member | countri | final boost global liquid membership |
| global | condit member countri final boost | global | liquid membership agre billion sdr |
| economi | alloc billion gone emerg develop | economi | thus provid welcom boost reserv |
| market | pledg imf extrem help stabil | market | peak crisi temporari conting specif |
| countri | system credit arrang number member | countri | institut arrang temporari requir approv |
| also | requir approv everi five year | also | conting activ crisi either clear |
| financ | element uncertainti avail fund crisi | financ | new lend resourc prove suffici |
| market | may enough reassur member financi | market | would suffici meet futur crise |
| global | imf cannot yet serv credibl | global | lender last resort provid global |
| global | global lender last resort provid | global | financi insur critic crisi resolut |
| need | resourc base imf increas much | need | cours difficult question said trillion |
| also | think resourc base far larger | also | question addit resourc would provid |
| also | would import part solut time | also | assess role region reserv pool |
| also | possibl cooper imf arrang could | also | explor option enhanc stabil intern |
| global | intern monetari system exampl address | global | liquid pressur sdr alloc could |
| global | sdr alloc could made respons | global | develop flexibl countri circumst final |
| countri | made respons global develop flexibl | countri | circumst final find way make |
| financ | enhanc predict access imf crisi | financ | specif option would make consider |
| also | consid design altern conting instrument | also | element automat one issu wish |
| also | consid evenhand independ henc effect | also | critic prerequisit imf serv credibl |
| global | critic prerequisit imf serv credibl | global | lender last resort reason g |
| market | shift quota share dynam emerg | market | develop countri least five percent |
| countri | share dynam emerg market develop | countri | least five percent overrepres underrepres |
| countri | least five percent overrepres underrepres | countri | current imf quota formula use |
| also | formula use basi work leader | also | commit protect vote share poorest |
| countri | poorest member imf call member | countri | move quick make commit realiti |
| also | commit realiti hope januari regard | also | urg member proceed swift ratif |
| also | voic reform number reform would | also | improv govern fund strengthen channel |
| also | direct institut hold account follow | also | ensur select manag director imf |
| global | valuabl last contribut build new | global | econom financi framework help world |
| econom | last contribut build new global | econom | financi framework help world secur |
| also | framework help world secur prosper | also | provid basi harmoni henc peac |
| countri | republ turkey year ago said | countri | divers civil one necessari particip |
| global | work togeth build stabl prosper | global | economi |
| economi | togeth build stabl prosper global | economi | |
| econom | find strang abid belief peac | econom | stabil intim entwin lose one |
| econom | peac necessari precondit trade sustain | econom | growth prosper also work way |
| growth | necessari precondit trade sustain econom | growth | prosper also work way econom |
| also | trade sustain econom growth prosper | also | work way econom stabil rise |
| econom | growth prosper also work way | econom | stabil rise prosper broad share |
| countri | prosper broad share within among | countri | foster peac like happen atmospher |
| econom | foster peac like happen atmospher | econom | cooper open multilater approach econom |
| econom | econom cooper open multilater approach | econom | polit problem ultim peac prosper |
| econom | war recent mani part world | econom | instabl provok polit upheav social |
| econom | conflict among nation togeth greater | econom | prosper encompass everincreas share world |
| global | devot much time effort fight | global | financi crisi greatest econom slowdown |
| econom | fight global financi crisi greatest | econom | slowdown sinc great depress truli |
| global | slowdown sinc great depress truli | global | crisi affect big countri small |
| countri | truli global crisi affect big | countri | small countri rich countri poor |
| countri | crisi affect big countri small | countri | rich countri poor countri countri |
| countri | big countri small countri rich | countri | poor countri countri made polici |
| countri | small countri rich countri poor | countri | countri made polici mistak countri |
| countri | countri rich countri poor countri | countri | made polici mistak countri tell |
| polici | countri poor countri countri made | polici | mistak countri tell us problem |
| countri | countri countri made polici mistak | countri | tell us problem one countri |
| countri | countri tell us problem one | countri | rapid echo across globe expos |
| global | deep complex web connect run | global | economi thank see light end |
| economi | complex web connect run global | economi | thank see light end tunnel |
| growth | crisi mean financi condit improv | growth | engin seem start forecast global |
| global | growth engin seem start forecast | global | recoveri first part even growth |
| growth | global recoveri first part even | growth | recov might still take time |
| economi | continu rise next year even | economi | bounc back peopl lose job |
| countri | peopl lose job crisi mani | countri | particular without adequ social safeti |
| countri | stabil stake particular high lowincom | countri | popul especi vulner recent news |
| econom | world good saw longest broadest | econom | expans among lowincom countri modern |
| countri | broadest econom expans among lowincom | countri | modern histori especi subsaharan africa |
| global | success food fuel price shock | global | financi crisi caus fortun revers |
| econom | lower purchas power life death | econom | margin destitut could lead social |
| global | imf respond crisi long ago | global | economi stood edg abyss collaps |
| economi | respond crisi long ago global | economi | stood edg abyss collaps lehman |
| econom | brother uncertainti turn outright panic | econom | activ began downward spiral peopl |
| econom | policymak world import unpreced degre | econom | polici cooper countri face common |
| polici | world import unpreced degre econom | polici | cooper countri face common threat |
| countri | unpreced degre econom polici cooper | countri | face common threat common respons |
| polici | threat common respons saw fiscal | polici | monetari polici financi sector polici |
| polici | respons saw fiscal polici monetari | polici | financi sector polici sens imf |
| polici | polici monetari polici financi sector | polici | sens imf stand apex multilater |
| global | stand apex multilater respons promot | global | public good econom stabil eve |
| econom | respons promot global public good | econom | stabil eve crisi global economi |
| global | good econom stabil eve crisi | global | economi becom increas integr boom |
| economi | econom stabil eve crisi global | economi | becom increas integr boom trade |
| market | capit flow dri mani emerg | market | lowincom countri face immedi financ |
| countri | dri mani emerg market lowincom | countri | face immedi financ need imf |
| financ | market lowincom countri face immedi | financ | need imf step breach recogn |
| need | lowincom countri face immedi financ | need | imf step breach recogn uniqu |
| countri | capac doubl concession resourc poorer | countri | imf commit use fund effect |
| financ | fund effect possibl emphas upfront | financ | larger amount greater emphasi prevent |
| also | lend role goe beyond lend | also | add valu forecast polici advic |
| polici | lend also add valu forecast | polici | advic crisi unfold think prove |
| growth | think prove worth realist forecast | growth | credit loss likewis also help |
| also | forecast growth credit loss likewis | also | help polici advisor emphas particular |
| polici | credit loss likewis also help | polici | advisor emphas particular need common |
| need | help polici advisor emphas particular | need | common coordin action imf among |
| polici | action imf among first pinpoint | polici | respons becom part convent wisdom |
| need | convent wisdom especi fiscal stimulus | need | restructur bank system also urg |
| also | stimulus need restructur bank system | also | urg countri avoid mistak great |
| countri | restructur bank system also urg | countri | avoid mistak great depress remind |
| growth | backfir exacerb collaps world trade | growth | make everybodi wors also call |
| also | trade growth make everybodi wors | also | call maintain financi aid flow |
| countri | maintain financi aid flow vulner | countri | avoid wara note crisi inde |
| countri | get better especi true lowincom | countri | care growth growth sake also |
| growth | especi true lowincom countri care | growth | growth sake also want safeguard |
| growth | true lowincom countri care growth | growth | sake also want safeguard peac |
| also | countri care growth growth sake | also | want safeguard peac prevent war |
| countri | peac prevent war inde lowincom | countri | well past decad incid war |
| econom | call develop revers entail huge | econom | cost caus great suffer lead |
| countri | particular issu caus great strain | countri | neighbor countri issu refuge alreadi |
| countri | caus great strain countri neighbor | countri | issu refuge alreadi world today |
| countri | intern displac case half lowincom | countri | major risk factor war also |
| also | countri major risk factor war | also | increas poverti reduc growth potenti |
| growth | war also increas poverti reduc | growth | potenti destroy infrastructur lead loss |
| countri | knock  ½ percentag point | countri | growth rate sinc averag civil |
| growth | Â ½ percentag point countri | growth | rate sinc averag civil war |
| economi | civil war last year mean | economi | percent smaller would peac overal |
| also | suffer alway accompani war causal | also | run way war devast economi |
| economi | also run way war devast | economi | weak economi make countri prone |
| economi | way war devast economi weak | economi | make countri prone war econom |
| countri | devast economi weak economi make | countri | prone war econom factor matter |
| econom | economi make countri prone war | econom | factor matter mani peopl think |
| econom | clear point low incom slow | econom | growth increas risk countri fall |
| growth | point low incom slow econom | growth | increas risk countri fall civil |
| countri | slow econom growth increas risk | countri | fall civil conflict poverti econom |
| econom | countri fall civil conflict poverti | econom | stagnat lead peopl becom margin |
| economi | becom margin lack stake product | economi | littl hope employ decent standard |
| also | might higher depend natur resourc | also | risk factor competit control resourc |
| financ | trigger conflict incom natur resourc | financ | war see vicious circl war |
| econom | see vicious circl war make | econom | condit prospect wors weaken institut |
| countri | imf help broad level help | countri | maintain consolid econom stabil obvious |
| econom | level help countri maintain consolid | econom | stabil obvious way mention alreadi |
| financ | obvious way mention alreadi provid | financ | need without govern might forc |
| need | way mention alreadi provid financ | need | without govern might forc cut |
| econom | safeti net essenti public servic | econom | activ might disrupt employ opportun |
| countri | diminish imf deliv support lowincom | countri | next year two three time |
| countri | concession lend lend made differ | countri | sustain program engag past two |
| growth | two decad saw bigger boost | growth | without involv tri better still |
| countri | still reform way lend lowincom | countri | make lend flexibl better tailor |
| countri | lend flexibl better tailor individu | countri | circumst lend program countri alway |
| countri | individu countri circumst lend program | countri | alway emphas poverti reduct protect |
| countri | violenc increas pleas note lowincom | countri | program back imf budget higher |
| also | poor one top prioriti imf | also | place great emphasi good govern |
| countri | good govern percent condit lowincom | countri | program focus improv public resourc |
| also | improv public resourc manag account | also | provid advic technic assist resourcerich |
| countri | provid advic technic assist resourcerich | countri | allow better manag revenu contribut |
| also | better past good sign imf | also | extend special help countri postconflict |
| countri | imf also extend special help | countri | postconflict fragil situat lend technic |
| econom | assist help rebuild strengthen institut | econom | manag essenti element state build |
| countri | creat flexibl emerg facil use | countri | come conflict sure imf role |
| also | imf role limit one support | also | open door muchneed aid flow |
| econom | first world war instead promot | econom | cooper motiv myopic consider particular |
| econom | term treati versaill sow seed | econom | ruin germani turn one caus |
| polici | one founder imf strong condemn | polici | reduc germani servitud generat degrad |
| countri | expect believ prosper happi one | countri | promot other solidar man fiction |
| countri | man fiction keyn admonit ignor | countri | instead embrac econom selfinterest retreat |
| econom | admonit ignor countri instead embrac | econom | selfinterest retreat isolation follow unpreced |
| global | retreat isolation follow unpreced collaps | global | econom activ dire social polit |
| econom | isolation follow unpreced collaps global | econom | activ dire social polit consequ |
| econom | activ dire social polit consequ | econom | warfar soon led real warfar |
| countri | left ten million dead mani | countri | around world ruin war nation |
| econom | past embrac multilater cooper approach | econom | financi polici leader want creat |
| polici | multilater cooper approach econom financi | polici | leader want creat new world |
| econom | leader embark upon remark process | econom | polit integr determin forev banish |
| econom | develop comprehens social safeti net | econom | social stabil cement peac imf |
| econom | milieu dedic peac cooper mandat | econom | stabil promot monetari cooper facilit |
| global | employ benefit peopl would overse | global | financi system lend member balanc |
| need | system lend member balanc payment | need | understood stabil would come peac |
| econom | link peac share prosper denounc | econom | polici interwar year declar econom |
| polici | peac share prosper denounc econom | polici | interwar year declar econom aggress |
| econom | econom polici interwar year declar | econom | aggress offspr war danger futil |
| econom | offspr war danger futil know | econom | conflict must develop nation endeavor |
| econom | develop nation endeavor separ deal | econom | ill intern scope legaci stem |
| econom | mandat conclusionlet sum argu morn | econom | stabil peac go hand hand |
| countri | go hand hand especi true | countri | come togeth cooper intern stage |
| econom | intern stage imf creat fight | econom | root war sit heart multilater |
| econom | sit heart multilater effort achiev | econom | stabil countri within countri look |
| countri | multilater effort achiev econom stabil | countri | within countri look current global |
| countri | achiev econom stabil countri within | countri | look current global financi crisi |
| global | countri within countri look current | global | financi crisi worst sinc great |
| global | great depress risk incred high | global | economi could face meltdown pull |
| economi | depress risk incred high global | economi | could face meltdown pull back |
| countri | import convers convers plight lowincom | countri | ongo global econom crisi would |
| global | convers plight lowincom countri ongo | global | econom crisi would like thank |
| econom | plight lowincom countri ongo global | econom | crisi would like thank nanci |
| global | like thank nanci birdsal center | global | develop organ event almost exact |
| countri | leader meet london ask forget | countri | greatest need follow summit leader |
| need | london ask forget countri greatest | need | follow summit leader pledg doubl |
| countri | doubl imf lend capac lowincom | countri | bad news good news morn |
| countri | morn bad news fear lowincom | countri | hit hard global crisi somewhat |
| global | fear lowincom countri hit hard | global | crisi somewhat harder thought march |
| countri | policymak respond aggress aggress past | countri | eas macroeconom polici imf financ |
| polici | aggress past countri eas macroeconom | polici | imf financ provid muchneed breath |
| financ | countri eas macroeconom polici imf | financ | provid muchneed breath space polici |
| polici | financ provid muchneed breath space | polici | respons coupl dawn global recoveri |
| global | space polici respons coupl dawn | global | recoveri lead hope lowincom countri |
| countri | global recoveri lead hope lowincom | countri | remain high vulner financ need |
| financ | lowincom countri remain high vulner | financ | need remain great cannot complac |
| need | countri remain high vulner financ | need | remain great cannot complac let |
| countri | let begin talk crisi lowincom | countri | includ polici respons move imf |
| polici | talk crisi lowincom countri includ | polici | respons move imf role crisi |
| countri | crisi lowincom countriesw know lowincom | countri | innoc victim crisi make mistak |
| countri | victim crisi make mistak advanc | countri | contrari mani right thing recent |
| market | burden bear inflat liber product | market | build comfort reserv cushion help |
| econom | difficult reform result longest broadest | econom | expans among lowincom countri modern |
| countri | broadest econom expans among lowincom | countri | modern histori especi subsaharan africa |
| countri | food fuel price shock lowincom | countri | start catch breath global financi |
| global | lowincom countri start catch breath | global | financi crisi made landfal land |
| countri | land great feroc see lowincom | countri | growth drop less half precrisi |
| growth | great feroc see lowincom countri | growth | drop less half precrisi rate |
| global | strike mani differ channel point | global | allencompass natur trade slump whole |
| countri | whole world fell recess lowincom | countri | export good servic could drop |
| countri | remitt lifelin mani famili lowincom | countri | also plummet may fall year |
| also | lifelin mani famili lowincom countri | also | plummet may fall year percent |
| growth | percent major setback year strong | growth | given depress econom condit advanc |
| econom | year strong growth given depress | econom | condit advanc economi think fdi |
| economi | given depress econom condit advanc | economi | think fdi flow lowincom countri |
| countri | economi think fdi flow lowincom | countri | may fall percent year aid |
| countri | financi channel well bank lowincom | countri | typic steer clear subprim mortgag |
| global | higher fund cost surpris uncertain | global | environ loan turn bad econom |
| econom | global environ loan turn bad | econom | condit worsen mean slower credit |
| growth | condit worsen mean slower credit | growth | reinforc slowdown expect recoveri lowincom |
| countri | reinforc slowdown expect recoveri lowincom | countri | abl ride wave rise world |
| global | cannot take thing grant pace | global | recoveri far assur poorer countri |
| countri | global recoveri far assur poorer | countri | may suffer aftereffect year come |
| also | may suffer aftereffect year come | also | everpres risk new shock ongo |
| need | face sever food shortag may | need | emerg food aid must never |
| countri | peopl push extrem poverti lowincom | countri | crisi could well matter life |
| need | polit instabl even war matter | need | help subsaharan countri resourc provid |
| countri | war matter need help subsaharan | countri | resourc provid need growth also |
| need | help subsaharan countri resourc provid | need | growth also need keep peac |
| growth | subsaharan countri resourc provid need | growth | also need keep peac polici |
| also | countri resourc provid need growth | also | need keep peac polici respons |
| need | resourc provid need growth also | need | keep peac polici respons lowincom |
| polici | growth also need keep peac | polici | respons lowincom countrieslet turn good |
| countri | alway best kind sinc mani | countri | ran good polici built foundat |
| polici | sinc mani countri ran good | polici | built foundat ward storm someth |
| countri | someth new past mani lowincom | countri | face financi squeez would forc |
| polici | substanti creat breath space countercycl | polici | fact estim almost twothird lowincom |
| countri | fact estim almost twothird lowincom | countri | low moder risk debt distress |
| polici | risk debt distress flow better | polici | also aid debt relief clear |
| also | debt distress flow better polici | also | aid debt relief clear want |
| polici | debt relief clear want fiscal | polici | counteract crisi make wors happen |
| countri | wors happen three quarter lowincom | countri | let budget deficit get bigger |
| also | bigger revenu fell one third | also | introduc discretionari fiscal stimulus know |
| global | stimulus know imf time call | global | fiscal stimulus countri afford claim |
| countri | time call global fiscal stimulus | countri | afford claim rich countri privileg |
| countri | stimulus countri afford claim rich | countri | privileg case anoth benefit fiscal |
| countri | vulner ravag crisi mani peopl | countri | food price tripl job lost |
| countri | protect social safeti net lowincom | countri | avail data preserv increas social |
| countri | let downplay risk either often | countri | financ deficit borrow domest concession |
| financ | downplay risk either often countri | financ | deficit borrow domest concession support |
| need | recoveri take hold stimulus measur | need | unwound deficit reduc preserv debt |
| countri | deficit reduc preserv debt sustain | countri | forc tighten soon risk jeopard |
| financ | jeopard recoveri simpli get afford | financ | scaledup concession financi support import |
| countri | world communiti must support lowincom | countri | provid concession financ without lifelin |
| financ | support lowincom countri provid concession | financ | without lifelin cost crisi greater |
| need | becom avail first two year | need | greatest let put perspect support |
| countri | resourc circumst demand noth less | countri | benefit doubl limit countri borrow |
| countri | less countri benefit doubl limit | countri | borrow us imf membership also |
| also | countri borrow us imf membership | also | support billion increas special draw |
| countri | member get proport quota lowincom | countri | mean billion resourc resourc use |
| financ | reserv reserv safe level relax | financ | constraint reform concession lendingbut much |
| also | reform concession lendingbut much lend | also | lend want faster cheaper better |
| need | recent reform transform way respond | need | lowincom countri first thing make |
| countri | transform way respond need lowincom | countri | first thing make financ cheaper |
| financ | lowincom countri first thing make | financ | cheaper zero interest charg concession |
| countri | rate concession past commit lowincom | countri | last one crisi also shown |
| also | lowincom countri last one crisi | also | shown us lowincom countri thrown |
| countri | crisi also shown us lowincom | countri | thrown basket differ countri differ |
| countri | lowincom countri thrown basket differ | countri | differ need respond need differ |
| need | thrown basket differ countri differ | need | respond need differ way imf |
| need | differ countri differ need respond | need | differ way imf introduc varieti |
| need | make lend flexibl better tailor | need | countri centerpiec support lowincom countri |
| countri | lend flexibl better tailor need | countri | centerpiec support lowincom countri poverti |
| countri | need countri centerpiec support lowincom | countri | poverti reduct growth facil prgf |
| growth | support lowincom countri poverti reduct | growth | facil prgf design address deeproot |
| countri | requir longerterm structur solut today | countri | still face challeng countri offer |
| countri | today countri still face challeng | countri | offer successor prgf extend credit |
| financ | prgf extend credit facil kind | financ | design countri need multiyear support |
| countri | credit facil kind financ design | countri | need multiyear support other need |
| need | facil kind financ design countri | need | multiyear support other need kind |
| need | countri need multiyear support other | need | kind arrang lowincom countri financ |
| countri | other need kind arrang lowincom | countri | financ regular sourc normal time |
| financ | need kind arrang lowincom countri | financ | regular sourc normal time need |
| need | financ regular sourc normal time | need | imf hit bump road face |
| financ | hit bump road face temporari | financ | gap unlik predica face mani |
| market | unlik predica face mani emerg | market | show lowincom countri inde climb |
| countri | mani emerg market show lowincom | countri | inde climb ladder countri creat |
| countri | lowincom countri inde climb ladder | countri | creat standbi credit facil mirror |
| market | credit facil mirror standard emerg | market | lend window shortterm borrow concession |
| also | shortterm borrow concession term facil | also | use precautionari basi countri might |
| countri | facil also use precautionari basi | countri | might need money today secur |
| need | use precautionari basi countri might | need | money today secur blanket immedi |
| need | secur blanket immedi imf support | need | third option countri need financ |
| countri | imf support need third option | countri | need financ various reason adjust |
| need | support need third option countri | need | financ various reason adjust program |
| financ | need third option countri need | financ | various reason adjust program might |
| polici | shock perhap limit institut capac | polici | adjust countri new rapid credit |
| countri | limit institut capac polici adjust | countri | new rapid credit facil deliv |
| financ | new rapid credit facil deliv | financ | pretti quick smaller amount lighter |
| polici | pretti quick smaller amount lighter | polici | condit hope new flexibl approach |
| need | lend facil season meet divers | need | divers group countri new approach |
| countri | meet divers need divers group | countri | new approach conditionalityit secret lend |
| countri | mistak overal think prgf success | countri | sustain program engag past two |
| growth | two decad saw bigger boost | growth | without involv still need make |
| need | boost growth without involv still | need | make sure medicin harm patient |
| polici | year streamlin condit focus core | polici | measur critic macroeconom stabil poverti |
| growth | critic macroeconom stabil poverti reduct | growth | mani condit mani differ area |
| countri | lead loss legitimaci across lowincom | countri | program number condit fallen one |
| need | almost everybodi agre core area | need | improv would expect new approach |
| countri | would expect new approach lead | countri | ownership reform implement today past |
| also | govern leeway reach goal must | also | make sure program work domest |
| polici | sure program work domest countercycl | polici | food fuel price crisi revis |
| global | upward accommod sharpli rise price | global | downturn program accommod higher budget |
| countri | special place protect vulner lowincom | countri | program budget higher social spend |
| countri | still one compon know lowincom | countri | lack suffici infrastructur develop past |
| countri | suffici infrastructur develop past lowincom | countri | program permit high concession borrow |
| need | rule kind privat sector borrow | need | expand invest imf take flexibl |
| countri | flexibl approach debt program allow | countri | lower debt vulner borrow concession |
| countri | concession nonconcession sourc time expect | countri | benefit flexibl help conclusionto conclud |
| global | conclusionto conclud must make sure | global | recoveri also lift lowincom countri |
| also | must make sure global recoveri | also | lift lowincom countri countri desper |
| countri | global recoveri also lift lowincom | countri | countri desper need financ tide |
| countri | recoveri also lift lowincom countri | countri | desper need financ tide give |
| need | lift lowincom countri countri desper | need | financ tide give adequ breath |
| financ | lowincom countri countri desper need | financ | tide give adequ breath space |
| also | breath space cope crisi must | also | posit help counti face new |
| countri | cannot go alon think lowincom | countri | need billion addit extern financ |
| need | go alon think lowincom countri | need | billion addit extern financ year |
| financ | countri need billion addit extern | financ | year next imf provid onethird |
| also | lend intern institut contribut donor | also | need play part scale aid |
| need | intern institut contribut donor also | need | play part scale aid least |
| need | aid least line gleneagl commit | need | urgent time like alway temptat |
| countri | urgent time like alway temptat | countri | retreat inward look first problem |
| need | problem respond primarili domest polit | need | demand understand world communiti cannot |
| need | understand world communiti cannot ignor | need | lowincom countri especi sinc poorer |
| countri | communiti cannot ignor need lowincom | countri | especi sinc poorer countri pay |
| countri | lowincom countri especi sinc poorer | countri | pay price rich countri mistak |
| countri | poorer countri pay price rich | countri | mistak countri must resist temptat |
| countri | pay price rich countri mistak | countri | must resist temptat reduc aid |
| countri | trade financi protection happen poorest | countri | suffer year progress may undon |
| countri | perspect civil societi twin criseslowincom | countri | lic hit hard twin crise |
| countri | poor led civil unrest number | countri | price surg follow close wave |
| global | follow close wave shock associ | global | financi crisi specif demand lic |
| econom | fdi capit flow declin expect | econom | growth lic slow year half |
| growth | capit flow declin expect econom | growth | lic slow year half precrisi |
| financ | financi assist dramat second made | financ | concession interest charg concession lend |
| countri | flexibl set instrument better attun | countri | divers need streamlin condit final |
| need | instrument better attun countri divers | need | streamlin condit final help countri |
| countri | need streamlin condit final help | countri | adapt program creat polici space |
| polici | help countri adapt program creat | polici | space address crisi includ add |
| countri | farreach seen year fund career | countri | effort mount countercycl polici come |
| polici | career countri effort mount countercycl | polici | come price howev donor support |
| financ | donor support kept pace rise | financ | need mani countri borrow domest |
| need | support kept pace rise financ | need | mani countri borrow domest draw |
| countri | pace rise financ need mani | countri | borrow domest draw reserv need |
| need | countri borrow domest draw reserv | need | high concession donor support unless |
| countri | line gleneagl commit see risk | countri | forc either cut spend even |
| economi | forc either cut spend even | economi | still recess take unsustain debt |
| global | speak emin audienc pivot time | global | econom financi affair begin word |
| econom | emin audienc pivot time global | econom | financi affair begin word econom |
| econom | econom financi affair begin word | econom | outlook address three key issu |
| global | aris think move beyond crisi | global | economi appear emerg last worst |
| economi | think move beyond crisi global | economi | appear emerg last worst econom |
| econom | economi appear emerg last worst | econom | downturn lifetim sever advanc economi |
| economi | econom downturn lifetim sever advanc | economi | includ franc germani alreadi return |
| growth | includ franc germani alreadi return | growth | emerg economi recov even strong |
| economi | germani alreadi return growth emerg | economi | recov even strong howev expect |
| economi | expect recoveri relat sluggish advanc | economi | still larg driven polici stimulus |
| polici | advanc economi still larg driven | polici | stimulus restock under privat demand |
| economi | demand remain weak outlook emerg | economi | consider better though pace recoveri |
| polici | prematur exit accommod monetari fiscal | polici | princip concern addit problem financi |
| also | restor bank health complet let | also | add intern coordin exit strategi |
| econom | phase crisi follow heel financi | econom | phase name high unemploy expect |
| econom | unemploy continu rise next year | econom | growth fall short potenti jobless |
| growth | continu rise next year econom | growth | fall short potenti jobless recoveri |
| econom | risk mani peopl work signific | econom | cost rang lower privat demand |
| growth | lower privat demand declin potenti | growth | structur unemploy rise social consequ |
| polici | potenti even worrisom reason believ | polici | maker err side caution decid |
| polici | caution decid exit crisi respons | polici | said think time right policymak |
| global | want focus three question relat | global | economi transit beyond crisi first |
| economi | focus three question relat global | economi | transit beyond crisi first new |
| growth | beyond crisi first new sourc | growth | second address problem financi sector |
| need | cours issu one import probabl | need | done support lowincom countri address |
| countri | probabl need done support lowincom | countri | address point detail separ speech |
| need | let turn first three point | need | sustain global growth come year |
| global | first three point need sustain | global | growth come year demandsid issueslet |
| growth | three point need sustain global | growth | come year demandsid issueslet begin |
| growth | fundament question hand name sourc | growth | come year nation level baton |
| need | year nation level baton eventu | need | pass public privat sector crisi |
| polici | public privat sector crisi respons | polici | unwound howev discuss detail later |
| global | extent recoveri privat sector demand | global | level weaker demand economi need |
| economi | demand global level weaker demand | economi | need offset stronger foreign demand |
| need | global level weaker demand economi | need | offset stronger foreign demand countri |
| countri | need offset stronger foreign demand | countri | fact dramat chang global demand |
| global | demand countri fact dramat chang | global | demand alreadi take place exampl |
| countri | chang take place currentaccount deficit | countri | develop line fund ask mani |
| countri | assess high current account deficit | countri | run unsustain medium term given |
| need | rise concern foreign indebted inde | need | rebalanc underpin imfsponsor multilater consult |
| global | rebalanc underpin imfsponsor multilater consult | global | imbal took place polici imper |
| polici | consult global imbal took place | polici | imper achiev sustain rebalanc global |
| global | polici imper achiev sustain rebalanc | global | demand familiar mani advanc economi |
| economi | global demand familiar mani advanc | economi | rapid progress toward fix financi |
| growth | financi system essenti support product | growth | emerg asia notabl china structur |
| also | higher spend educ health would | also | help reduc precautionari save also |
| also | also help reduc precautionari save | also | emerg asia oil export public |
| also | public invest spend concentr infrastructur | also | green initi would boost domest |
| countri | demand flexibl exchang rate manag | countri | would valuabl polici complement increas |
| polici | rate manag countri would valuabl | polici | complement increas demand import currentaccount |
| countri | increas demand import currentaccount surplus | countri | encourag shift resourc tradabl nontrad |
| global | shift resourc tradabl nontrad sector | global | rebalanc demand could also import |
| also | sector global rebalanc demand could | also | import implic invest innov consum |
| market | implic invest innov consum emerg | market | play bigger role composit global |
| global | market play bigger role composit | global | product like chang exampl could |
| polici | hightechnolog good declin make import | polici | maker acceler reform reduc barrier |
| economi | inflict longterm damag suppli capac | economi | sharp fall invest may lower |
| market | therefor taken renew import labor | market | reform includ increas labor market |
| market | market reform includ increas labor | market | flexibl support job search train |
| economi | worker crisishit sector vibrant part | economi | product market reform particular servic |
| market | sector vibrant part economi product | market | reform particular servic could creat |
| also | product financi sector reform would | also | boost effici even though financi |
| economi | financi sector like shrink advanc | economi | europ would urg leader recommit |
| economi | financi crisi erupt mani eu | economi | includ germani still room improv |
| economi | step direct effort boost green | economi | could also play role number |
| also | effort boost green economi could | also | play role number countri alreadi |
| countri | could also play role number | countri | alreadi undertaken green stimulus measur |
| also | aggreg demand employ measur could | also | power induc effect technolog innov |
| global | revolut tomorrow time help address | global | climat chang c exit policiesa |
| polici | said earlier see real danger | polici | maker may jeopard recoveri exit |
| polici | measur soon said time right | polici | maker formul exit strategi address |
| economi | stabil first order import advanc | economi | current unsustain path averag public |
| need | scale problem plan achiev adjust | need | anchor market expect contain longterm |
| market | plan achiev adjust need anchor | market | expect contain longterm interest rate |
| economi | health care cost inde advanc | economi | net present valu futur spend |
| countri | difficult essenti ensur fiscal sustain | countri | reform spend beyond educ health |
| also | spend beyond educ health may | also | necessari tax reform may critic |
| polici | bank face challeng decis tighten | polici | see immedi concern sinc inflat |
| need | inflat expect secur central bank | need | except clear communic assess price |
| market | pressur well view condit financi | market | central bank may also face |
| also | financi market central bank may | also | face challeng independ polit pressur |
| econom | bank focus price stabil support | econom | recoveri govern must therefor provid |
| growth | derail recoveri potenti signific implic | growth | unemploy therefor exit polici launch |
| polici | implic growth unemploy therefor exit | polici | launch clear indic recoveri taken |
| need | far reform financi sector still | need | done crisi respons measuresi hearten |
| market | respons measuresi hearten stabil financi | market | taken place last year credit |
| market | place last year credit equiti | market | rebound bank liquid plenti thank |
| market | central bank provis wholesal money | market | reopen capit market show renew |
| market | wholesal money market reopen capit | market | show renew sign life contribut |
| market | sector particular concern privat securit | market | still impair household financi sector |
| also | household financi sector continu deleverag | also | worri improv financi market lead |
| market | deleverag also worri improv financi | market | lead complac deal remain difficult |
| also | come month launch assetmanag program | also | critic need deal asset alreadi |
| need | launch assetmanag program also critic | need | deal asset alreadi bank book |
| also | deal asset alreadi bank book | also | offset impact rise nonperform loan |
| polici | impact rise nonperform loan formal | polici | coordin across countri must strengthen |
| countri | loan formal polici coordin across | countri | must strengthen becom particular import |
| countri | must strengthen becom particular import | countri | begin design exit strategi urg |
| polici | begin design exit strategi urg | polici | maker remain focus complet crisisrespons |
| global | concern system risk could reemerg | global | financi system clear knockon effect |
| econom | financi system clear knockon effect | econom | growth greater clariti communic polici |
| growth | system clear knockon effect econom | growth | greater clariti communic polici intent |
| polici | econom growth greater clariti communic | polici | intent public also essenti shore |
| also | clariti communic polici intent public | also | essenti shore confid b regulatori |
| need | crisi respons measur regulatori reform | need | creat safer stabl financi sector |
| need | mitig system risk prevent measur | need | reduc likelihood crise includ widen |
| also | institut measur improv crisi manag | also | critic includ address difficult crossbord |
| growth | problem yet restrict stifl innov | growth | financi sector progress alreadi made |
| need | strengthen regulatori capit framework work | need | particular key lesson financi crisi |
| also | cannot lenient must therefor increas | also | made variabl order prevent excess |
| need | remain work progress broad agreement | need | compon system procycl regul must |
| global | nation interest put ahead greater | global | good increas signific must also |
| also | global good increas signific must | also | act decis promot reform compens |
| polici | act decis promot reform compens | polici | financi industri risktak cultur hallmark |
| countri | govern concern potenti loss competit | countri | adjust compens polici expect traction |
| polici | loss competit countri adjust compens | polici | expect traction issu may emerg |
| financ | may emerg follow weekend g | financ | minist meet london c imf |
| global | regulatori reform outset let clear | global | financi regul aspir respons nation |
| econom | may serious undermin unit state | econom | financi problem particular worri larg |
| financ | import one one oldest intern | financ | earli maynard keyn propos creation |
| econom | month base much polit consider | econom | one global economi evolv like |
| global | much polit consider econom one | global | economi evolv like see new |
| economi | polit consider econom one global | economi | evolv like see new currenc |
| global | would cours requir signific stepup | global | polici coordin view current intern |
| polici | cours requir signific stepup global | polici | coordin view current intern monetari |
| polici | nearterm concern dollar eas appropri | polici | action u author inde durabl |
| polici | anchor fiscal monetari financi regulatori | polici | main reserv issuer would go |
| countri | believ could made even resili | countri | appetit selfinsur henc demand reserv |
| also | cost reduc demand reserv would | also | deliv dividend individu countri invest |
| countri | would also deliv dividend individu | countri | invest foreign reserv rather economi |
| economi | countri invest foreign reserv rather | economi | countri larg reserv stockpil miss |
| countri | invest foreign reserv rather economi | countri | larg reserv stockpil miss potenti |
| need | infrastructur see various way reduc | need | selfinsur countri level sound econom |
| countri | various way reduc need selfinsur | countri | level sound econom polici clear |
| econom | need selfinsur countri level sound | econom | polici clear reduc need insur |
| polici | selfinsur countri level sound econom | polici | clear reduc need insur time |
| need | sound econom polici clear reduc | need | insur time polici credibl enhanc |
| polici | clear reduc need insur time | polici | credibl enhanc confid currenc strengthen |
| global | credibl enhanc confid currenc strengthen | global | level seek way reduc impact |
| market | signific counterparti risk prevent emerg | market | borrow global region reserv pool |
| global | risk prevent emerg market borrow | global | region reserv pool access lender |
| need | practic like altern inde recognit | need | strengthen system insur mechan intern |
| global | sdr alloc could made respons | global | develop flexibl countri circumst fund |
| countri | made respons global develop flexibl | countri | circumst fund resourc base insur |
| global | recent tripl still smaller share | global | gdp even smaller share global |
| global | global gdp even smaller share | global | capit flow fund creat iv |
| global | focus attent key question relat | global | economi transit beyond crisi global |
| economi | attent key question relat global | economi | transit beyond crisi global growth |
| global | global economi transit beyond crisi | global | growth appear turn corner forget |
| growth | economi transit beyond crisi global | growth | appear turn corner forget far |
| polici | forget far main due massiv | polici | support right fact polici maker |
| polici | massiv polici support right fact | polici | maker respons start formul exit |
| polici | maker respons start formul exit | polici | mean implement clear sign recoveri |
| polici | given high last cost unemploy | polici | maker err side caution rather |
| need | remain done particular capit requir | need | strengthen larger also reflect better |
| also | capit requir need strengthen larger | also | reflect better riski bank activ |
| polici | better riski bank activ compens | polici | need align banker incent much |
| need | riski bank activ compens polici | need | align banker incent much better |
| polici | let close renew call intern | polici | coordin express support minist steinbrueck |
| polici | remark issu crisi shown intern | polici | coordin essenti part crisi respons |
| polici | crisi respons thank concert forc | polici | action world polici maker abl |
| polici | concert forc polici action world | polici | maker abl keep onceinalifetim crisi |
| also | crisi becom fullblown depress crisi | also | demonstr irreplac role multilater institut |
| polici | multilater institut whether support intern | polici | respons provid financ play critic |
| financ | support intern polici respons provid | financ | play critic role global respons |
| global | provid financ play critic role | global | respons crisi look ahead must |
| also | eight annual region confer let | also | thank presid central bank minist |
| financ | thank presid central bank minist | financ | financi sector superintend head region |
| global | sober topic name effect unpreced | global | financi econom crisi region next |
| econom | name effect unpreced global financi | econom | crisi region next two day |
| countri | day take stock effect crisi | countri | region assess nearterm outlook risk |
| polici | view appropri macroeconom financi sector | polici | period ahead also opportun review |
| also | financi sector polici period ahead | also | opportun review lesson financi sector |
| polici | review lesson financi sector regul | polici | drawn aftermath global crisi discuss |
| global | sector regul polici drawn aftermath | global | crisi discuss possibl implic central |
| global | first sign moder rate declin | global | output encourag road recoveri nonetheless |
| need | around globe intern financi communiti | need | prepar accord current crisi affect |
| countri | respond mani front support member | countri | use crosscountri experi advis advanc |
| countri | use crosscountri experi advis advanc | countri | center crisi polici solut modern |
| polici | advis advanc countri center crisi | polici | solut modern lend oper general |
| countri | oper general becom respons member | countri | need take opportun let highlight |
| need | general becom respons member countri | need | take opportun let highlight chang |
| global | particular would like focus strengthen | global | financi safeti net ii ad |
| global | increas emphasi protect vulner strengthen | global | financi safeti net last april |
| global | april g govern support broaden | global | financi safeti net trebl imf |
| countri | korea australia unit state addit | countri | like china brazil russia announc |
| global | sizabl increas lend capac imf | global | financi safeti net also strengthen |
| also | imf global financi safeti net | also | strengthen upcom general alloc sdrs |
| countri | extern financi posit everi member | countri | exampl seven countri repres confer |
| countri | everi member countri exampl seven | countri | repres confer receiv total alloc |
| countri | percent current intern reserv group | countri | hope alloc becom effect annual |
| countri | fewer condit better tailor individu | countri | circumst high access precautionari standbi |
| also | structur compon lend arrang imf | also | creat new facil economi sound |
| economi | imf also creat new facil | economi | sound polici well integr global |
| polici | creat new facil economi sound | polici | well integr global financi market |
| global | economi sound polici well integr | global | financi market face contagion extern |
| market | polici well integr global financi | market | face contagion extern event outsid |
| polici | life credit without undertak preagre | polici | measur meet polici target mexico |
| polici | undertak preagre polici measur meet | polici | target mexico first countri took |
| countri | meet polici target mexico first | countri | took advantag new facil cours |
| countri | better posit comment use two | countri | request credit line colombia poland |
| countri | credit line colombia poland three | countri | combin receiv us billion fund |
| also | line last monthsenhanc surveil imf | also | provid effect independ surveil global |
| global | also provid effect independ surveil | global | economi econom financi sector diagnosi |
| economi | provid effect independ surveil global | economi | econom financi sector diagnosi forecast |
| econom | effect independ surveil global economi | econom | financi sector diagnosi forecast central |
| countri | diagnosi forecast central refer point | countri | plan respond crisi outspoken press |
| economi | press coordin respons crisi larg | economi | go forward socal earli warn |
| global | vulner unexpect shock draw connect | global | system risk launch annual meet |
| also | better integr macroeconom surveil fund | also | play role ongo debat design |
| global | role ongo debat design new | global | system financi regul includ legal |
| economi | strengthen imf legitimaci effect world | economi | reform quota voic agre april |
| global | strive realign member quota weight | global | economi aspect govern structur imf |
| economi | realign member quota weight global | economi | aspect govern structur imf also |
| also | economi aspect govern structur imf | also | review take account input mani |
| econom | imf step effort minim effect | econom | adjust prompt global crisi vulner |
| global | minim effect econom adjust prompt | global | crisi vulner exampl new program |
| also | measur aim protect vulner imf | also | commit strengthen concession lend capac |
| countri | gold increas fund avail poorest | countri | us billion next year addit |
| growth | size normal loan poverti reduct | growth | facil prgf exogen shock facil |
| also | framework concession lend time challeng | also | provid us opportun move reform |
| countri | imf best continu support member | countri | effort includ continu provid financi |
| need | necessari current crisi demonstr world | need | collabor approach solv global econom |
| global | world need collabor approach solv | global | econom problem want assur imf |
| econom | need collabor approach solv global | econom | problem want assur imf stand |
| global | gentlemen pleas particip today inaugur | global | think tank summit organ china |
| econom | summit organ china center intern | econom | exchang particular honor particip summit |
| global | guest today want talk impact | global | financi crisi asia well offer |
| also | well offer thought implic china | also | imf impact global financi crisiswhat |
| global | implic china also imf impact | global | financi crisiswhat happen past year |
| econom | past year sober remind quick | econom | environ chang also becom pain |
| also | remind quick econom environ chang | also | becom pain evid asia decoupl |
| econom | west rather far interconnect modern | econom | system past would like highlight |
| global | sizabl amount toxic asset center | global | crisi asia still subject signific |
| global | asia still subject signific shockwav | global | liquid dri asian bank much |
| global | fund mani realiz particular expos | global | deleverag result shortag us fund |
| countri | less affect slowdown demand industri | countri | howev trade channel far potent |
| also | product region collaps intraregion trade | also | collaps becam clear much trade |
| global | demand shock u europ past | global | demand remain key factor behind |
| growth | factor behind asian output export | growth | anyth linkag actual strengthen time |
| growth | financi channel spillov contagion output | growth | asia deceler breathtak pace latter |
| countri | disappoint recent data howev sign | countri | includ china downturn bottom shall |
| global | bottom shall turn discuss view | global | region outlook recent world econom |
| econom | global region outlook recent world | econom | outlook forecast show imf current |
| global | forecast show imf current expect | global | economi contract year first time |
| economi | show imf current expect global | economi | contract year first time postwar |
| global | forecast updat next week likelihood | global | forecast modest higher outlook u |
| global | recent data sure longest deepest | global | recess postwar period asia shown |
| global | period asia shown intim link | global | develop downturn took hold asia |
| global | recoveri inextric coupl futur fortun | global | economi mean asian growth also |
| economi | inextric coupl futur fortun global | economi | mean asian growth also like |
| growth | fortun global economi mean asian | growth | also like remain weak throughout |
| also | global economi mean asian growth | also | like remain weak throughout pick |
| global | gradual look past immedi aftermath | global | crisi fulli expect discret chang |
| global | fulli expect discret chang pattern | global | growth u consumpt longer forc |
| growth | expect discret chang pattern global | growth | u consumpt longer forc take |
| global | account deficit time though like | global | demand asian produc good remain |
| growth | mean region relianc extern driver | growth | diminish greater emphasi need place |
| need | driver growth diminish greater emphasi | need | place domest sourc demand particular |
| growth | task region benefit great exportori | growth | model gear toward compet intern |
| market | model gear toward compet intern | market | nevertheless essenti challeng taken serious |
| polici | nevertheless essenti challeng taken serious | polici | redirect toward achiev goal allow |
| growth | toward achiev goal allow healthi | growth | rate sustain asia even context |
| global | even context sluggish demand west | global | region context mean china imf |
| global | front howev perman chang underway | global | economi includ prospect suppress extern |
| economi | howev perman chang underway global | economi | includ prospect suppress extern demand |
| need | extern demand time come make | need | reorient economi essenti ever shortterm |
| economi | time come make need reorient | economi | essenti ever shortterm china effort |
| economi | stimulus domest demand instrument insul | economi | worst aspect global crisi alreadi |
| global | instrument insul economi worst aspect | global | crisi alreadi facilit healthi pace |
| growth | alreadi facilit healthi pace consumpt | growth | impress improv underway much need |
| need | growth impress improv underway much | need | infrastructur low incom hous howev |
| need | infrastructur low incom hous howev | need | sustain higher level consumpt perman |
| economi | higher level consumpt perman rebal | economi | know big motiv household save |
| polici | lessen desir precautionari save requir | polici | put place assur citizen need |
| need | polici put place assur citizen | need | provid old age regard would |
| financ | vehicl household provid altern bankintermedi | financ | increas household dispos incom expand |
| market | rais consumpt remov distort credit | market | exampl liber deposit loan rate |
| also | worsen credit qualiti mediumterm would | also | align govern goal increas energi |
| global | effici protect environ cours recent | global | event also clear implic role |
| also | environ cours recent global event | also | clear implic role imf global |
| global | also clear implic role imf | global | financi crisi put imf frontandcent |
| economi | contain effect crisi return world | economi | stabil steadi growth particular clear |
| growth | return world economi stabil steadi | growth | particular clear consensus recent g |
| global | imf play pivot role help | global | economi overcom current crisi imf |
| economi | play pivot role help global | economi | overcom current crisi imf move |
| polici | monitor assess implement fiscal financi | polici | put place counter current global |
| global | polici put place counter current | global | downturn lend revamp lend facil |
| countri | facil context although major asian | countri | approach imf support far stand |
| countri | far stand readi assist qualifi | countri | new instrument flexibl credit line |
| also | new instrument flexibl credit line | also | work improv access imf financ |
| financ | also work improv access imf | financ | low incom countri concession rate |
| countri | access imf financ low incom | countri | concession rate arrang fund need |
| need | countri concession rate arrang fund | need | support concession lend resourc work |
| need | increas resourc imf draw upon | need | mani countri alreadi agre put |
| countri | imf draw upon need mani | countri | alreadi agre put substanti sum |
| econom | author signal strong support intern | econom | financi system effort benefici china |
| countri | boost fund capac help member | countri | particular develop emerg market countri |
| market | member countri particular develop emerg | market | countri cope crisi thus benefit |
| countri | countri particular develop emerg market | countri | cope crisi thus benefit member |
| global | benefit member facilit earli recoveri | global | economi time new note offer |
| economi | member facilit earli recoveri global | economi | time new note offer member |
| global | quota realign member quota weight | global | economi final close want wish |
| economi | realign member quota weight global | economi | final close want wish cciee |
| econom | foster intern exchang view key | econom | issu concern us exchang import |
| polici | exchang import progress made multilater | polici | collabor better intern collabor rememb |
| econom | us sure heard alreadi latest | econom | news around world give reason |
| global | tentat sign emerg rate declin | global | output moder financi condit improv |
| econom | challeng breadth sever financi crisi | econom | slowdown serious experienc sinc policymak |
| polici | largescal fiscal stimulus accommod monetari | polici | plus strong often innov support |
| polici | support financi sector speed magnitud | polici | respons doubt play key role |
| market | key role begin turn around | market | sentiment slow declin econom activ |
| econom | around market sentiment slow declin | econom | activ truncat downsid risk ground |
| market | clear sign recoveri visibl emerg | market | particular asia recoveri still appear |
| economi | appear struggl becom establish advanc | economi | context ongo polici support crucial |
| polici | establish advanc economi context ongo | polici | support crucial lay firmer foundat |
| growth | crucial lay firmer foundat renew | growth | includ restor financi sector health |
| polici | vulner could build without care | polici | design relat need exit strategi |
| need | without care polici design relat | need | exit strategi regard fiscal polici |
| polici | need exit strategi regard fiscal | polici | implement announc stimulus measur incomplet |
| countri | incomplet challeng experi vari across | countri | program stimulus measur form tax |
| countri | ½ percent author fund spent | countri | transfer capit spend risen comparison |
| need | turn fals dawn consider may | need | given provid addit stimulus time |
| polici | addit stimulus time appropri monetari | polici | economi remain accommod includ unconvent |
| economi | stimulus time appropri monetari polici | economi | remain accommod includ unconvent measur |
| need | remain accommod includ unconvent measur | need | togeth budgetari support low polici |
| polici | need togeth budgetari support low | polici | interest rate steeper yield curv |
| polici | sheet hope boost lend monetari | polici | relat success normal condit money |
| market | relat success normal condit money | market | longer term interest rate set |
| market | term interest rate set main | market | forc polici similar effort stimul |
| polici | rate set main market forc | polici | similar effort stimul bank lend |
| market | stimul bank lend restart securit | market | must contend linger lack confid |
| market | confer particip regard revit financi | market | bank lend welcom crucial point |
| polici | explor confer effect fiscal monetari | polici | depend part exist credibl medium |
| polici | commit maintain macroeconom stabil deploy | polici | instrument stimul demand support financi |
| polici | explor direct effect well impact | polici | measur fiscal posit advanc emerg |
| market | measur fiscal posit advanc emerg | market | countri present govern debt project |
| countri | fiscal posit advanc emerg market | countri | present govern debt project grow |
| economi | sever year case sever advanc | economi | public debt approach highest percent |
| polici | inflationari expect undermin credibl monetari | polici | moreov oper immedi impact govern |
| need | immedi impact govern debt could | need | cover govern lead loss outcom |
| market | respect potenti exit strategi context | market | signal may provid use inform |
| countri | use inform past week advanc | countri | govern bond yield increas signific |
| market | rapid increas bond yield reflect | market | uneas prospect larg treasuri issuanc |
| market | govern privat borrow cost risk | market | instabl delay recoveri clear govern |
| need | instabl delay recoveri clear govern | need | coher strategi regard unwind except |
| econom | could go strengthen fiscal account | econom | situat stabil downsiz central bank |
| polici | sheet anchor inflat expect presum | polici | shift implement time budget deficit |
| economi | implement time budget deficit declin | economi | recov also consolid measur put |
| also | budget deficit declin economi recov | also | consolid measur put place central |
| econom | balanc sheet downsiz demand recov | econom | slack shrink main contour exit |
| polici | slack shrink main contour exit | polici | need formul clear coher even |
| need | shrink main contour exit polici | need | formul clear coher even though |
| countri | project remain high time mani | countri | alreadi take step signal commit |
| countri | reform fiscal institut help exampl | countri | could strengthen fiscal rule framework |
| need | budget neutral offset new save | need | done howev includ address loom |
| polici | prospect fiscal cost cours monetari | polici | eventu normal moreov central bank |
| need | central bank independ maintain plan | need | transfer credit risk balanc sheet |
| polici | reestablish clearer demarc fiscal monetari | polici | preserv govern solvenc also impli |
| also | monetari polici preserv govern solvenc | also | impli maxim recoveri valu acquir |
| polici | mind first promin role fiscal | polici | mitig cost crisi brought fore |
| also | legaci crisi high public debt | also | motiv examin appropri institut legal |
| polici | appropri institut legal framework fiscal | polici | would support fiscal disciplin crisi |
| also | would support fiscal disciplin crisi | also | rais legitim question yardstick current |
| polici | current use assess stanc fiscal | polici | recent imf confer document unsustain |
| polici | thus asset price movement fiscal | polici | implic potenti topic futur research |
| polici | crisi prompt discuss reexamin monetari | polici | framework seem strong prima faci |
| polici | better integr macrofinanci linkag monetari | polici | consider incorpor linkag surveil process |
| polici | posit note sometim said bad | polici | made good time vice versa |
| polici | crisi hope lay ground improv | polici | abl draw correct lesson abl |
| economi | draw correct lesson abl make | economi | stabl time maintain valuabl featur |
| market | valuabl featur dynam innov modern | market | system thank attent exampl argentina |
| economi | great recess unfold sinc us | economi | downturn began late latest data |
| global | late latest data point slow | global | contract time pace global econom |
| global | slow global contract time pace | global | econom recoveri remain uncertain moreov |
| econom | global contract time pace global | econom | recoveri remain uncertain moreov clear |
| global | status quo ant rather new | global | expans sustain base rebalanc sourc |
| growth | expans sustain base rebalanc sourc | growth | across countri region moreov current |
| countri | base rebalanc sourc growth across | countri | region moreov current crisi made |
| need | made abund clear substanti strengthen | need | regard intern collabor design implement |
| econom | regard intern collabor design implement | econom | financi sector polici remark today |
| polici | design implement econom financi sector | polici | remark today discuss outlook risk |
| global | remark today discuss outlook risk | global | economi highlight key challeng face |
| economi | today discuss outlook risk global | economi | highlight key challeng face policymak |
| global | term seek lay foundat resurg | global | growth conclud remark global develop |
| growth | seek lay foundat resurg global | growth | conclud remark global develop challeng |
| global | resurg global growth conclud remark | global | develop challeng turkish economi global |
| economi | remark global develop challeng turkish | economi | global outlook improv remain cloudedaft |
| global | global develop challeng turkish economi | global | outlook improv remain cloudedaft two |
| global | remain cloudedaft two quarter unpreced | global | econom contract carri year first |
| econom | cloudedaft two quarter unpreced global | econom | contract carri year first quarter |
| growth | develop expect come week revis | growth | project modest upward main regard |
| global | upward main regard improv prospect | global | economi owe much resolut polici |
| economi | main regard improv prospect global | economi | owe much resolut polici action |
| polici | global economi owe much resolut | polici | action across broad rang countri |
| countri | polici action across broad rang | countri | know well measur includ sizeabl |
| polici | fiscal stimulus dramat eas monetari | polici | convent unconvent mean widerang measur |
| polici | measur support financi system noteworthi | polici | coordin global unpreced extent includ |
| global | financi system noteworthi polici coordin | global | unpreced extent includ g process |
| global | far earli conclud goal restor | global | growth accomplish moreov financi condit |
| growth | earli conclud goal restor global | growth | accomplish moreov financi condit still |
| growth | system disrupt reduc sharpli credit | growth | market remain subdu amid ongo |
| market | disrupt reduc sharpli credit growth | market | remain subdu amid ongo deleverag |
| market | amid ongo deleverag mani securit | market | remain dormant even upbeat indic |
| global | repres green shoot still point | global | recoveri would sluggish histor standard |
| economi | sluggish histor standard activ advanc | economi | like reviv gradual cours weigh |
| growth | weigh financi deleverag limit credit | growth | weak household incom growth declin |
| growth | credit growth weak household incom | growth | declin household net worth emerg |
| economi | declin household net worth emerg | economi | group weather crisi better past |
| polici | past thank mani case strong | polici | framework put place preced decad |
| growth | preced decad unlik return trend | growth | advanc economi still underperform result |
| economi | unlik return trend growth advanc | economi | still underperform result output gap |
| economi | result output gap unemploy rate | economi | like continu rise polici must |
| polici | rate economi like continu rise | polici | must remain focus recoveryin context |
| polici | context clear case continu strong | polici | action need remaind year order |
| need | case continu strong polici action | need | remaind year order insur econom |
| econom | need remaind year order insur | econom | activ begin sustain improv first |
| growth | sustain improv first foremost robust | growth | achiev continu financi sector problem |
| economi | bank stress test major advanc | economi | notabl unit state unit kingdom |
| market | repres signific step toward rebuild | market | confid attract new privat capit |
| growth | lay foundat reviv bank credit | growth | nearterm focus polici continu restructur |
| polici | bank credit growth nearterm focus | polici | continu restructur weaken financi institut |
| need | bank viabil ensur bank recapit | need | polici respons coordin intern avoid |
| polici | viabil ensur bank recapit need | polici | respons coordin intern avoid regulatori |
| polici | crisi cost second time macroeconom | polici | countri continu support demand insur |
| countri | cost second time macroeconom polici | countri | continu support demand insur risk |
| polici | deeper prolong recess cap fiscal | polici | advanc mani emerg market economi |
| market | fiscal polici advanc mani emerg | market | economi remain expansionari least line |
| economi | polici advanc mani emerg market | economi | remain expansionari least line leader |
| need | moreov addit support still could | need | downsid risk outlook materi effect |
| polici | measur anchor credibl mediumterm fiscal | polici | framework otherwis fear futur crowdingout |
| growth | crowdingout pressur sustain govern debt | growth | could prove counterproduct monetari polici |
| polici | growth could prove counterproduct monetari | polici | also remain support sustain recoveri |
| also | could prove counterproduct monetari polici | also | remain support sustain recoveri take |
| polici | bank explicit regard commit keep | polici | interest rate low also continu |
| also | keep polici interest rate low | also | continu consid whether unconvent measur |
| econom | order improv credit flow stimul | econom | activ emerg economi monetari polici |
| economi | flow stimul econom activ emerg | economi | monetari polici need balanc desir |
| polici | econom activ emerg economi monetari | polici | need balanc desir support demand |
| need | activ emerg economi monetari polici | need | balanc desir support demand risk |
| need | credit qualiti move beyond crisi | need | exit strategyin regard fiscal deficit |
| economi | exit strategyin regard fiscal deficit | economi | need consolid rise dramat order |
| need | strategyin regard fiscal deficit economi | need | consolid rise dramat order bring |
| financ | rise dramat order bring public | financ | back sustain trajectori cours fiscal |
| econom | fiscal support continu sustain stillfragil | econom | condit thereaft return selfsustain econom |
| econom | econom condit thereaft return selfsustain | econom | growth would provid basi deliber |
| growth | condit thereaft return selfsustain econom | growth | would provid basi deliber withdraw |
| economi | howev longerterm fiscal prospect mani | economi | alreadi give rise serious concern |
| economi | concern especi case mani advanc | economi | consid impend pressur deriv popul |
| market | popul age rise healthcar cost | market | confid sustain budget posit would |
| econom | system central return new period | econom | progress prop massiv govern intervent |
| market | agre almost univers regul financi | market | institut need overhaul princip goal |
| need | univers regul financi market institut | need | overhaul princip goal broaden regulatori |
| also | individu institut specif financi instrument | also | supplement macroprudenti approach would take |
| market | mitig potenti procycl effect regul | market | disciplin need strengthen improv transpar |
| need | procycl effect regul market disciplin | need | strengthen improv transpar incentivecompat compens |
| need | size balanc sheet monetari author | need | devis plan exit unconvent measur |
| polici | task come month maintain support | polici | simultan plan welltim revers end |
| polici | simultan plan welltim revers end | polici | challeng howev even recess past |
| global | sever longerterm structur issu address | global | economi return solid sustain growth |
| economi | longerterm structur issu address global | economi | return solid sustain growth perhap |
| growth | global economi return solid sustain | growth | perhap import basic sourc growth |
| growth | growth perhap import basic sourc | growth | mani key economi shift relat |
| economi | basic sourc growth mani key | economi | shift relat precrisi period earlier |
| global | earlier period associ unsustain pattern | global | imbal reflect histor low us |
| market | mirror high save mani emerg | market | economi alreadi us privat save |
| economi | high save mani emerg market | economi | alreadi us privat save rate |
| growth | rate return normal posit assum | growth | us consum spend provid degre |
| global | consum spend provid degre support | global | growth previous part fund long |
| growth | spend provid degre support global | growth | previous part fund long conclud |
| global | part fund long conclud pattern | global | growth would chang broadbas expans |
| growth | fund long conclud pattern global | growth | would chang broadbas expans experienc |
| global | fund sponsor innov multilater consult | global | imbal particip euro area china |
| econom | consult develop set mutual consist | econom | polici program would support growth |
| polici | develop set mutual consist econom | polici | program would support growth reduc |
| growth | econom polici program would support | growth | reduc imbal consult produc polici |
| polici | growth reduc imbal consult produc | polici | agenda includ structur reform rais |
| growth | includ structur reform rais potenti | growth | europ japan step boost domest |
| growth | japan step boost domest demand | growth | china includ increas social outlay |
| polici | privat save unit state view | polici | agenda implement adequ expediti would |
| global | agenda becom relev import composit | global | demand adjust order restor sustain |
| growth | demand adjust order restor sustain | growth | particular us growth becom relat |
| growth | restor sustain growth particular us | growth | becom relat depend expand net |
| growth | expand net export busi invest | growth | emerg economi reli princip export |
| economi | export busi invest growth emerg | economi | reli princip export growth build |
| growth | emerg economi reli princip export | growth | build larg current surplus futur |
| growth | futur depend relat domest demand | growth | fiscal consolid requir crisi inevit |
| economi | inevit rise privat save advanc | economi | reflect steep declin financi hous |
| need | hous wealth tighter credit avail | need | match increas emerg market domest |
| market | avail need match increas emerg | market | domest demand turn would facilit |
| need | social safeti net would reduc | need | precautionari save develop effect financi |
| global | manag would support fluid rebalanc | global | suppli demand turkey global crisiswith |
| global | rebalanc global suppli demand turkey | global | crisiswith economi close integr world |
| economi | suppli demand turkey global crisiswith | economi | close integr world market good |
| market | crisiswith economi close integr world | market | good capit turkey experienc mani |
| market | experienc mani hardship face emerg | market | countri inde fall worldwid demand |
| countri | mani hardship face emerg market | countri | inde fall worldwid demand coupl |
| global | fall worldwid demand coupl deleverag | global | financi market caus sever percent |
| market | demand coupl deleverag global financi | market | caus sever percent annual rate |
| econom | crisi result imf forecast anticip | econom | activ year declin least percent |
| economi | declin least percent howev turkish | economi | also display resili flexibl central |
| also | least percent howev turkish economi | also | display resili flexibl central bank |
| polici | strengthen bank sector focus turkish | polici | earlier decad repres import element |
| also | consider hold foreign currenc save | also | signific insur exchang rate fluctuat |
| need | high liquid interest coverag ratio | need | maintain adequ buffer lesson privat |
| global | previous crisi episod line recent | global | develop hope sign visibl econom |
| econom | global develop hope sign visibl | econom | horizon improv intern investor sentiment |
| market | intern investor sentiment toward emerg | market | help stabil exchang rate return |
| market | back level prevail prior septemb | market | turmoil consum confid rebound strong |
| also | declin manufactur employ begun revers | also | lend privat sector gain posit |
| economi | posit momentum indic suggest turkish | economi | may verg recoveri howev rise |
| growth | qualiti could address forc cloud | growth | outlook includ curtail bank abil |
| polici | fiscal disciplin increas credibl monetari | polici | framework notabl structur reform help |
| econom | structur reform help produc best | econom | perform turkey modern histori everi |
| polici | histori everi reason expect return | polici | path would help fulli unleash |
| economi | would help fulli unleash turkish | economi | impress potenti doubt necessari condit |
| growth | among other return sustain solid | growth | rate imf colleagu share great |
| global | support turkey way cours broad | global | issu discuss today address annual |
| countri | octob way turkey therebi becom | countri | host annual meet twice meet |
| financ | twice meet provid opportun minist | financ | central bank governor fund member |
| countri | central bank governor fund member | countri | discuss global outlook develop financi |
| global | governor fund member countri discuss | global | outlook develop financi market provid |
| market | discuss global outlook develop financi | market | provid guidanc institut key polici |
| polici | market provid guidanc institut key | polici | direct annual meet particular import |
| econom | meet particular import given current | econom | crisi much look forward return |
| global | forward return turkey time hope | global | outlook continu improv reflect unpreced |
| polici | continu improv reflect unpreced cooper | polici | effort fund member confid turkey |
| econom | confid turkey look forward renew | econom | success sure meet particip leav |
| polici | opportun debt manag central banker | polici | maker privat sector repres meet |
| polici | candid discuss view current issu | polici | option relat debt manag share |
| polici | event allow us deepen understand | polici | challeng issu concern forum particip |
| need | may respond best possibl member | need | current crisi provid us mani |
| also | debt manag immedi respons crisi | also | tri look futur attempt explor |
| market | ensur smooth effici function debt | market | go forward let howev turn |
| market | face debt manag emerg matur | market | alik name need rais financ |
| need | emerg matur market alik name | need | rais financ although problem may |
| financ | market alik name need rais | financ | although problem may similar emerg |
| market | problem may similar emerg matur | market | environ countri need rais fund |
| countri | similar emerg matur market environ | countri | need rais fund differ advanc |
| need | emerg matur market environ countri | need | rais fund differ advanc economiesfinanc |
| need | rais fund differ advanc economiesfinanc | need | increas dramat across industri world |
| also | stimulus packag stock conting liabil | also | increas govern guarante bank privat |
| countri | ireland govern pledg amount doubl | countri | gdp sweden bank heavili expos |
| countri | sweden bank heavili expos baltic | countri | amount half gdp cours larg |
| financ | larg part immedi impact current | financ | need sinc repres conting liabil |
| need | part immedi impact current financ | need | sinc repres conting liabil guarante |
| also | conting liabil guarante conting liabil | also | increas way deposit guarante scheme |
| market | expand net debt issuanc matur | market | project grow dramat year estim |
| market | credit default swap spread matur | market | debt particular countri bank system |
| countri | spread matur market debt particular | countri | bank system sever stress earlier |
| market | although cds data may question | market | relat shallow trade infrequ point |
| market | establish issuer although initi sign | market | might struggl exampl bond auction |
| market | uncov overal increas issuanc absorb | market | given investor strong appetit liquid |
| countri | strong appetit liquid govern secur | countri | demand also aid central bank |
| also | liquid govern secur countri demand | also | aid central bank purchas govern |
| polici | govern debt adopt quantit eas | polici | retreat em asset expans money |
| market | retreat em asset expans money | market | fund also support demand need |
| also | asset expans money market fund | also | support demand need also ask |
| need | market fund also support demand | need | also ask whether may lead |
| also | fund also support demand need | also | ask whether may lead crowd |
| growth | issuer would negat impact potenti | growth | signific increas interest rate whether |
| market | credit privat sector emerg marketsemerg | market | face differ challeng matur market |
| market | market face differ challeng matur | market | although em govern strive reduc |
| market | level move toward issu domest | market | countri em corpor even household |
| countri | move toward issu domest market | countri | em corpor even household borrow |
| need | bond loan matur manag refinanc | need | em issuer face increas competit |
| also | face increas competit mm issuer | also | challeng rais deleverag also affect |
| also | issuer also challeng rais deleverag | also | affect deterior export outlook lower |
| financ | worsen macroeconom prospect declin trade | financ | estim rollov need fund gap |
| need | declin trade financ estim rollov | need | fund gap em vari depend |
| need | estim point around billion refinanc | need | em sovereign pale comparison approxim |
| financ | issuer reli shortterm domest instrument | financ | well establish em issuer abl |
| market | issuer abl rais fund intern | market | least billion issu year most |
| also | pick second quarter em govern | also | turn fund ifi addit sourc |
| financ | fund ifi addit sourc extern | financ | fund work hard ensur financi |
| need | lend framework well suit member | need | well futur crise far includ |
| market | sdr billion nonconcession support emerg | market | low incom countri varieti sba |
| countri | support emerg market low incom | countri | varieti sba fcl emerg assist |
| financ | deleverag much possibl altern sourc | financ | found without disrupt liquid crisi |
| also | found without disrupt liquid crisi | also | import make sure regulatori pressur |
| also | home bias mms exacerb problem | also | make sure issuer understand expect |
| market | direct conting claim capac debt | market | absorb public privat debt without |
| also | role minim currenc matur mismatch | also | well place maintain close dialogu |
| market | well place maintain close dialogu | market | increas transpar polici reduc uncertainti |
| polici | close dialogu market increas transpar | polici | reduc uncertainti led higher risk |
| polici | forum allow us deepen understand | polici | challeng face member help us |
| financ | octob istanbul provid opportun minist | financ | central bank governor fund member |
| countri | central bank governor fund member | countri | discuss global econom outlook develop |
| global | governor fund member countri discuss | global | econom outlook develop financi market |
| econom | fund member countri discuss global | econom | outlook develop financi market provid |
| market | global econom outlook develop financi | market | provid guidanc institut key polici |
| polici | market provid guidanc institut key | polici | direct given current global econom |
| global | key polici direct given current | global | econom crisi eye undoubt istanbul |
| econom | polici direct given current global | econom | crisi eye undoubt istanbul octob |
| countri | eye undoubt istanbul octob various | countri | group group twenti g economi |
| economi | countri group group twenti g | economi | turkey member meet advanc provid |
| polici | import forum dialogu network among | polici | maker repres privat sector civil |
| countri | asia black sea region balkan | countri | present today global econom financi |
| global | region balkan countri present today | global | econom financi outlook challeng emerg |
| econom | balkan countri present today global | econom | financi outlook challeng emerg economi |
| economi | econom financi outlook challeng emerg | economi | first give brief overview global |
| global | economi first give brief overview | global | econom outlook second emphas road |
| econom | first give brief overview global | econom | outlook second emphas road full |
| market | third highlight key challeng emerg | market | fourth princip outcom recent g |
| global | role imf help solv current | global | econom crisi global economi outlookmi |
| econom | imf help solv current global | econom | crisi global economi outlookmi main |
| global | solv current global econom crisi | global | economi outlookmi main messag notwithstand |
| economi | current global econom crisi global | economi | outlookmi main messag notwithstand major |
| polici | outlookmi main messag notwithstand major | polici | effort global economi midst serious |
| global | messag notwithstand major polici effort | global | economi midst serious recess sinc |
| economi | notwithstand major polici effort global | economi | midst serious recess sinc great |
| econom | tentat sign emerg rate declin | econom | activ moder global gdp estim |
| global | rate declin econom activ moder | global | gdp estim fallen sharpli percent |
| economi | fourth quarter annual major advanc | economi | contract  ½ percent emerg |
| economi | contract  ½ percent emerg | economi | shrank percent preliminari estim suggest |
| global | shrank percent preliminari estim suggest | global | activ contract broad similar pace |
| economi | reflect fall trade advanc emerg | economi | countri reliant manufactur export among |
| countri | fall trade advanc emerg economi | countri | reliant manufactur export among heavili |
| econom | across globe reflect sharp fall | econom | activ collaps commod price sinc |
| econom | albeit tentat sign emerg contract | econom | activ moder recent data retail |
| economi | consum busi confid advanc emerg | economi | suggest rate declin privat consumpt |
| also | inventori cycl rapid drawdown stock | also | support product fiscal stimulus come |
| polici | stimulus come stream continu monetari | polici | support contribut moder contract econom |
| econom | polici support contribut moder contract | econom | activ global activ expect declin |
| global | contribut moder contract econom activ | global | activ expect declin  ¼ |
| growth | ¼ percent recov gradual cours | growth | advanc economi project contract  |
| economi | recov gradual cours growth advanc | economi | project contract  ¾ percent |
| growth | activ project recov gradual cours | growth | would return potenti end gradual |
| countri | gradual recoveri unemploy major industri | countri | expect continu increas throughout much |
| economi | increas throughout much emerg develop | economi | project expand modest  ½ |
| growth | Â ½ percent rise percent | growth | continu imped financ constraint lower |
| financ | rise percent growth continu imped | financ | constraint lower commod price weak |
| econom | recoveri protractedth key messag weak | econom | prospect financi fragil feed world |
| economi | prospect financi fragil feed world | economi | affect two oppos forc first |
| global | origin financi crisi continu pull | global | economi second reflect natur stabil |
| economi | financi crisi continu pull global | economi | second reflect natur stabil mechan |
| market | mechan inventori hous durabl good | market | import impact strong macroeconom polici |
| polici | market import impact strong macroeconom | polici | pull economi current downward forc |
| economi | impact strong macroeconom polici pull | economi | current downward forc global economi |
| global | pull economi current downward forc | global | economi continu domin owe feedback |
| economi | economi current downward forc global | economi | continu domin owe feedback loop |
| global | back weak privat demand credit | global | synchron recess present one typic |
| economi | deflat risk concentr major advanc | economi | could reinforc deeper longer downturn |
| polici | could reinforc deeper longer downturn | polici | challeng immedi imper decis address |
| polici | address financi strain time macroeconom | polici | credibl anchor mediumterm framework must |
| polici | recess financi policiesgovern taken signific | polici | step aim address crisi forc |
| polici | aim address crisi forc implement | polici | urgent requir moreov extent financi |
| market | urgent requir moreov extent financi | market | strain global interconnect intern polici |
| global | moreov extent financi market strain | global | interconnect intern polici cooper crucial |
| polici | market strain global interconnect intern | polici | cooper crucial restor market trust |
| market | intern polici cooper crucial restor | market | trust institut arrang deal impair |
| need | relat valuat dispos asset still | need | address follow rigor stress test |
| economi | recapit avoid regulatori arbitrag emerg | economi | prepar conting basi plan address |
| economi | like perman macroeconom policiesin advanc | economi | convent monetari polici remain accommod |
| polici | policiesin advanc economi convent monetari | polici | remain accommod sustain recoveri take |
| polici | accommod sustain recoveri take hold | polici | rate histor low major advanc |
| economi | rate histor low major advanc | economi | central bank also clear communic |
| also | major advanc economi central bank | also | clear communic intent keep polici |
| polici | also clear communic intent keep | polici | rate low recoveri firm take |
| economi | deflat risk central bank advanc | economi | continu explor unconvent measur stimul |
| econom | continu explor unconvent measur stimul | econom | activ fiscal stimulus critic prevent |
| global | activ fiscal stimulus critic prevent | global | economi go tailspin sustain least |
| economi | fiscal stimulus critic prevent global | economi | go tailspin sustain least mediumterm |
| countri | strengthen fiscal deficit g g | countri | expand signific relat precrisi level |
| need | given larg output gap stimulus | need | sustain increas least ensur durabl |
| countri | may help export especi appropri | countri | reli commod export seen larg |
| market | emerg marketsth main messag emerg | market | medium term deleverag like weigh |
| global | flow deleverag capit flow rolloversth | global | credit crunch expect deep long |
| economi | deleverag balanc sheet adjust advanc | economi | deleverag process driven mount bank |
| financ | debt last decad largescal offici | financ | need offset contract wholesal crossbord |
| need | last decad largescal offici financ | need | offset contract wholesal crossbord fund |
| market | offset contract wholesal crossbord fund | market | financ larg part previous buildup |
| financ | contract wholesal crossbord fund market | financ | larg part previous buildup credit |
| countri | collaps currenc come pressur especi | countri | larg domest extern imbal asia |
| also | extern imbal asia latin america | also | felt effect crisi howev extern |
| need | larger intern reserv lower refinanc | need | deeper local fund market overal |
| market | refinanc need deeper local fund | market | overal net privat flow emerg |
| market | overal net privat flow emerg | market | peak percent gdp turn negat |
| market | altern governmentguarante invest opportun matur | market | foreign direct invest flow expect |
| financ | remain subdu present environ scarc | financ | howev remitt appear general resili |
| countri | aid rate increas remitt develop | countri | slow percent percent accord latest |
| countri | world bank remitt flow develop | countri | project declin percent sovereign debt |
| market | issu last quarter intern debt | market | close emerg market sovereign howev |
| market | intern debt market close emerg | market | sovereign howev access market partial |
| market | emerg market sovereign howev access | market | partial restor least countri moder |
| countri | access market partial restor least | countri | moder debt stock sinc middecemb |
| market | middecemb last year sever emerg | market | sovereign turkey return intern debt |
| market | sovereign turkey return intern debt | market | spread widen borrow cost necessarili |
| market | borrow cost necessarili increas emerg | market | sovereign benefit low u treasuri |
| market | risk gain access intern debt | market | abound particular emerg market borrow |
| market | debt market abound particular emerg | market | borrow may crowd increas competit |
| countri | may crowd increas competit industri | countri | sovereign sovereign guarante paper emerg |
| market | sovereign sovereign guarante paper emerg | market | countri debt sustain problem low |
| countri | sovereign guarante paper emerg market | countri | debt sustain problem low credit |
| need | credit rate larg extern fund | need | one could find financ need |
| financ | fund need one could find | financ | need unmet circumst care public |
| need | need one could find financ | need | unmet circumst care public debt |
| financ | public debt manag import trade | financ | protectionist threat past recess declin |
| also | industri notabl steel automobil industri | also | emerg number countri traderel concern |
| countri | automobil industri also emerg number | countri | traderel concern also rais regard |
| also | emerg number countri traderel concern | also | rais regard various program support |
| need | financi servic industri reviv trade | need | support econom recoveri therefor vital |
| econom | industri reviv trade need support | econom | recoveri therefor vital govern resist |
| market | govern resist protectionist pressur keep | market | open nation interest well global |
| global | market open nation interest well | global | system financi crisi also brought |
| also | well global system financi crisi | also | brought chang price avail trade |
| financ | brought chang price avail trade | financ | howev spite tighten credit condit |
| financ | spite tighten credit condit trade | financ | valu bank trade financ declin |
| financ | trade financ valu bank trade | financ | declin much less valu merchandis |
| financ | merchandis trade thus bank trade | financ | major caus declin trade import |
| global | caus declin trade import recoveri | global | trade inhibit difficulti obtain financ |
| financ | global trade inhibit difficulti obtain | financ | import export context particular import |
| financ | leader london summit agre trade | financ | initi ensur avail least us |
| economi | summit appreci serious state world | economi | genuin commit take necessari action |
| need | given pivot role consensus reach | need | global coordin fiscal monetari respons |
| global | pivot role consensus reach need | global | coordin fiscal monetari respons agreement |
| econom | iii dampen rather amplifi financi | econom | cycl iv reduc relianc inappropri |
| financ | reduc relianc inappropri riski sourc | financ | v discourag excess risktak g |
| global | forum fsf role imf solv | global | econom financi crisi slide g |
| econom | fsf role imf solv global | econom | financi crisi slide g summit |
| econom | show strong support imf analysi | econom | forecast polici advic reform better |
| polici | support imf analysi econom forecast | polici | advic reform better serv global |
| global | polici advic reform better serv | global | communiti imf need continu effort |
| need | better serv global communiti imf | need | continu effort adapt lend facil |
| countri | provid intern liquid support member | countri | need alreadi sinc last octob |
| need | intern liquid support member countri | need | alreadi sinc last octob imf |
| countri | billion balanc payment support crisi | countri | new imf program come streamlin |
| need | focus condit paid due attent | need | social protect measur new flexibl |
| economi | effect conting liquid support emerg | economi | proven good macrofinanci track record |
| market | good macrofinanci track record posit | market | reaction follow decis mexico poland |
| countri | imf expect tripl support lowincom | countri | next two year doubl mediumterm |
| polici | surveil includ monitor fiscal financi | polici | implement member countri develop earli |
| countri | fiscal financi polici implement member | countri | develop earli warn system prioriti |
| global | imf govern structur better reflect | global | realiti urgent task top prioriti |
| also | governor enhanc strateg direct account | also | import prioriti final import forg |
| polici | g energi minist know energi | polici | direct part imf mandat promot |
| econom | direct part imf mandat promot | econom | financi stabil import linkag energi |
| market | financi stabil import linkag energi | market | global economi recent develop demonstr |
| global | stabil import linkag energi market | global | economi recent develop demonstr clear |
| economi | import linkag energi market global | economi | recent develop demonstr clear oil |
| market | recent develop demonstr clear oil | market | stabil import global econom stabil |
| global | clear oil market stabil import | global | econom stabil vice versa remark |
| econom | oil market stabil import global | econom | stabil vice versa remark discuss |
| global | versa remark discuss prospect return | global | oil market stabil period dramat |
| market | discuss prospect return global oil | market | stabil period dramat oil price |
| global | recent oil price boom bust | global | recess oil market adjustmentth dramat |
| market | boom bust global recess oil | market | adjustmentth dramat deterior global econom |
| global | oil market adjustmentth dramat deterior | global | econom condit late last year |
| econom | market adjustmentth dramat deterior global | econom | condit late last year brought |
| growth | abrupt end combin robust demand | growth | capac constraint shape oil market |
| market | growth capac constraint shape oil | market | develop past year cours month |
| global | develop past year cours month | global | economi drop sever recess postworld |
| economi | past year cours month global | economi | drop sever recess postworld war |
| econom | effect credit capit flow particular | econom | growth emerg develop economi unlik |
| growth | credit capit flow particular econom | growth | emerg develop economi unlik return |
| economi | particular econom growth emerg develop | economi | unlik return quick high rate |
| global | oil price respons rapid deterior | global | econom growth prospect dramat end |
| econom | price respons rapid deterior global | econom | growth prospect dramat end last |
| growth | respons rapid deterior global econom | growth | prospect dramat end last year |
| global | even declin sever recess speed | global | econom condit chang also without |
| econom | declin sever recess speed global | econom | condit chang also without modern |
| also | speed global econom condit chang | also | without modern preced momentum trade |
| market | time momentum last commod financi | market | broad stabil earli last decemb |
| global | sentiment sign sharpest period declin | global | economi growth china may pick |
| economi | sign sharpest period declin global | economi | growth china may pick also |
| growth | sharpest period declin global economi | growth | china may pick also expect |
| also | economi growth china may pick | also | expect contract oil demand may |
| market | oil price boom bust oil | market | stabilityturn lesson recent experi extraordinari |
| market | price past year illustr oil | market | suscept high price volatil instabl |
| global | respond strong short term shift | global | econom outlook thus chang under |
| econom | strong short term shift global | econom | outlook thus chang under econom |
| econom | econom outlook thus chang under | econom | fundament lead larger oil price |
| global | respons oil demand suppli chang | global | market price even small demand |
| market | oil demand suppli chang global | market | price even small demand shift |
| market | initi shift spot price order | market | clear typic shift subsequ unwind |
| global | appar reduct alreadi low sensit | global | demand higher global market price |
| global | low sensit global demand higher | global | market price decreas trace part |
| market | sensit global demand higher global | market | price decreas trace part govern |
| countri | price particular mani emerg develop | countri | contrast demand advanc economi respons |
| economi | develop countri contrast demand advanc | economi | respons rise price passthrough intern |
| market | respons rise price passthrough intern | market | price domest endus price typic |
| market | rapid complet similar lower world | market | price downturn often pass domest |
| market | domest price anoth timehonor lesson | market | condit tight buffer low price |
| market | suppli disturb wellknown phenomenon commod | market | reason price spike occur relat |
| market | spike occur relat frequent oil | market | except one characterist recent boom |
| also | shortterm factor weather conflictrel outag | also | persist suppli constraint strong demand |
| global | constraint strong demand impetus buoyant | global | growth oil product broad stagnat |
| growth | strong demand impetus buoyant global | growth | oil product broad stagnat fundament |
| market | product broad stagnat fundament oil | market | enter new regim spare capac |
| global | substanti excess capac system stagnat | global | oil product reflect confluenc factor |
| econom | main reason extens past world | econom | outlook public brief cyclic factor |
| global | outlook public brief cyclic factor | global | economi boom given legaci downsiz |
| economi | public brief cyclic factor global | economi | boom given legaci downsiz capac |
| polici | field develop timetobuild lag increas | polici | factor invest climat deterior number |
| countri | factor invest climat deterior number | countri | boom deter invest factor includ |
| polici | factor includ reserv access term | polici | paramet affect invest return tax |
| polici | paramet affect invest return tax | polici | environ price runup grow consensus |
| global | previous particular backdrop continu robust | global | growth key consequ prospect scarciti |
| growth | particular backdrop continu robust global | growth | key consequ prospect scarciti price |
| market | data limit complic assess oil | market | condit anoth conclus drawn oil |
| market | would increas order spot oil | market | clear case price boom say |
| market | oil price time prospect oil | market | stabilitymor recent oil price volatil |
| global | declin like two reason first | global | oil demand expect recov gradual |
| global | recov gradual reflect prospect gradual | global | growth recoveri second buffer higher |
| growth | gradual reflect prospect gradual global | growth | recoveri second buffer higher boom |
| also | recent averag million barrel inventori | also | much higher usual oecd economi |
| economi | also much higher usual oecd | economi | inventori forward demand cover estim |
| polici | remain limit time cours produc | polici | also play role determin market |
| also | limit time cours produc polici | also | play role determin market outlook |
| market | polici also play role determin | market | outlook particular expect recoveri demand |
| growth | consumpt eventu return path robust | growth | econom growth recov emerg develop |
| econom | eventu return path robust growth | econom | growth recov emerg develop economi |
| growth | return path robust growth econom | growth | recov emerg develop economi accompani |
| economi | econom growth recov emerg develop | economi | accompani advanc industri rise vehicl |
| growth | rise vehicl ownership depend capac | growth | oil suppli constraint could becom |
| financ | price reduc profit avail intern | financ | extern financ condit becom challeng |
| financ | profit avail intern financ extern | financ | condit becom challeng slow rebound |
| global | condit becom challeng slow rebound | global | growth continu financi strain prospect |
| growth | becom challeng slow rebound global | growth | continu financi strain prospect invest |
| market | like look beyond current oil | market | weak anoth help factor broadbas |
| global | anoth help factor broadbas declin | global | capit spend lower metal price |
| also | lower oil price invest incent | also | reason concern first good part |
| polici | mani part world second mani | polici | constraint oil invest mention earlier |
| need | current obstacl could trigger doubt | need | increas capac met turn could |
| polici | stage futur sharp price increas | polici | foster oil market stabilityther clear |
| market | price increas polici foster oil | market | stabilityther clear evid larg rapid |
| global | rapid oil price chang detriment | global | growth global econom financi stabil |
| growth | oil price chang detriment global | growth | global econom financi stabil therefor |
| global | price chang detriment global growth | global | econom financi stabil therefor policymak |
| econom | chang detriment global growth global | econom | financi stabil therefor policymak respons |
| econom | larg price swing well cushion | econom | impact perhap attract theori limit |
| polici | horizon may well counterproduct fundament | polici | instead address princip factor under |
| polici | under larg oil price swing | polici | recommend remain broad unchang earlier |
| polici | mention key element demand side | polici | effort focus strengthen respons domest |
| market | respons domest endus price chang | market | condit oil demand would becom |
| polici | larg price movement suppli side | polici | effort aim achiev stabl predict |
| market | given current difficulti assess oil | market | condit conclusionsin summari recent extraordinari |
| global | natur respons abrupt dramat chang | global | econom growth prospect nearterm factor |
| econom | respons abrupt dramat chang global | econom | growth prospect nearterm factor point |
| growth | abrupt dramat chang global econom | growth | prospect nearterm factor point relat |
| market | nearterm factor point relat oil | market | stabil spare capac inventori comfort |
| market | could reemerg threaten mediumterm oil | market | stabil avoid excess price swing |
| market | effort produc consum financi investor | market | regul alik need improv transpar |
| need | financi investor market regul alik | need | improv transpar function oversight ultim |
| global | function oversight ultim supplydemand balanc | global | oil market |
| market | ultim supplydemand balanc global oil | market | |
| also | intern feder account ifac would | also | like extend warm welcom staff |
| also | welcom staff various intern organ | also | attend meet observ imf support |
| also | intern accept account standard imf | also | valu formal collabor account world |
| financ | initi work toward harmon govern | financ | statist intern public sector account |
| global | standard meet midst test time | global | economi past year seen deepest |
| economi | meet midst test time global | economi | past year seen deepest econom |
| econom | economi past year seen deepest | econom | slowdown sinc also seen unpreced |
| also | seen deepest econom slowdown sinc | also | seen unpreced seri govern intervent |
| economi | govern intervent financi sector wider | economi | aim restor confid nation financi |
| global | confid nation financi institut support | global | demand scale breadth financi crisi |
| polici | scale breadth financi crisi complex | polici | respons requir pose four major |
| countri | one find similar theme across | countri | capit inject direct asset purchas |
| countri | govern guarante liquid support two | countri | polici respons exact alik individu |
| polici | guarante liquid support two countri | polici | respons exact alik individu countri |
| countri | polici respons exact alik individu | countri | respons adapt evolv keep pace |
| econom | respons adapt evolv keep pace | econom | develop second challeng consid intervent |
| polici | account standard order better inform | polici | decis effect measur intervent call |
| also | call intern consist account standard | also | report show impact activ sector |
| economi | report show impact activ sector | economi | imf statist work account standard |
| econom | dust eventu settl period unpreced | econom | turmoil member find face less |
| countri | member keen awar challeng face | countri | best meet need contin tri |
| need | challeng face countri best meet | need | contin tri time two month |
| econom | would like make remark serious | econom | challeng face africa help know |
| econom | help know face unpreced collaps | econom | activ global economi mire worst |
| global | face unpreced collaps econom activ | global | economi mire worst downturn sixti |
| economi | unpreced collaps econom activ global | economi | mire worst downturn sixti year |
| global | year call great recess expect | global | economi actual shrink percent recess |
| economi | call great recess expect global | economi | actual shrink percent recess stand |
| market | crisi began segment u hous | market | spread like wildfir across whole |
| countri | whole world first among advanc | countri | among emerg market last possibl |
| market | among advanc countri among emerg | market | last possibl potent lowincom countri |
| countri | market last possibl potent lowincom | countri | includ across africa mani respect |
| global | mani respect africa innoc victim | global | financi tsunami make mistak advanc |
| countri | financi tsunami make mistak advanc | countri | respons crisi contrari region mani |
| polici | right thing adopt prudent macroeconom | polici | build reserv time extern environ |
| growth | relief result period sustain high | growth | macroeconom stabil growth subsaharan africa |
| growth | sustain high growth macroeconom stabil | growth | subsaharan africa averag percent sinc |
| economi | crisi took heavi toll african | economi | global financi crisi made landfal |
| global | took heavi toll african economi | global | financi crisi made landfal even |
| growth | africa shore come sever expect | growth | region fall mere  ½ |
| polici | linger africa hit hard domest | polici | realli blame financi linkag minim |
| also | export drop fast commod price | also | fallen sharpli remitt flow taper |
| countri | foreign direct invest dri fortun | countri | especi oil produc built suffici |
| financ | poverti year earn less day | financ | need met mani million addit |
| need | year earn less day financ | need | met mani million addit children |
| polici | happen respond say word domest | polici | respons address intern communiti especi |
| polici | imf help let start fiscal | polici | put blunt fiscal polici counteract |
| polici | fiscal polici put blunt fiscal | polici | counteract crisi make wors know |
| global | wors know imf forefront call | global | fiscal stimulus countri fiscal space |
| countri | forefront call global fiscal stimulus | countri | fiscal space owe recent budgetari |
| countri | disciplin debt relief mani african | countri | room front extent possibl encourag |
| growth | basic mean accommod increas deficit | growth | slow countri howev financ debt |
| countri | accommod increas deficit growth slow | countri | howev financ debt sustain constraint |
| financ | deficit growth slow countri howev | financ | debt sustain constraint limit room |
| countri | case fiscal adjust may unavoid | countri | give prioriti strengthen welltarget social |
| polici | ravag crisi monetari exchang rate | polici | also role play cushion african |
| also | crisi monetari exchang rate polici | also | role play cushion african economi |
| economi | also role play cushion african | economi | exchang rate flexibl help adjust |
| countri | commod price lower inflationari pressur | countri | provid breath space monetari front |
| need | front final financi sector policymak | need | keep eye health bank system |
| growth | keep eye health bank system | growth | slow prepar act decis let |
| countri | talk role intern communiti help | countri | weather crisi africa need financ |
| need | help countri weather crisi africa | need | financ especi concession financ time |
| financ | countri weather crisi africa need | financ | especi concession financ time develop |
| financ | africa need financ especi concession | financ | time develop partner go back |
| market | africa counter protectionist pressur ensur | market | open african product also critic |
| also | ensur market open african product | also | critic import imf critic role |
| need | critic role play commit meet | need | region glad say world leader |
| countri | doubl capac concession lend lowincom | countri | plan provid addit billion concession |
| financ | marshal resourc essenti enough imf | financ | must also becom flexibl better |
| also | essenti enough imf financ must | also | becom flexibl better tailor lend |
| need | flexibl better tailor lend program | need | membership alreadi doubl loan access |
| countri | loan access limit includ lowincom | countri | give confid countri meet need |
| countri | includ lowincom countri give confid | countri | meet need revamp exogen shock |
| need | countri give confid countri meet | need | revamp exogen shock facil allow |
| countri | facil allow us respond rapid | countri | larg upfront disburs necessari process |
| also | lend facil enhanc flexibl use | also | streamlin condit polici condit recent |
| polici | flexibl use also streamlin condit | polici | condit recent program tight focus |
| countri | reform object attun circumst individu | countri | flexibl also extend provid breath |
| also | attun circumst individu countri flexibl | also | extend provid breath space countri |
| countri | also extend provid breath space | countri | adjust crisi would note fiscal |
| countri | fiscal target loosen percent african | countri | activ fund lend program relat |
| polici | fund lend program relat reexamin | polici | debt limit make flexibl remain |
| countri | health educ spend third lowincom | countri | program contain explicit target preserv |
| countri | alon cannot stand alon help | countri | weather crisi develop partner need |
| need | countri weather crisi develop partner | need | follow commit cours differ role |
| global | view fallout asia u slowdown | global | market turmoil would limit optim |
| market | fallout asia u slowdown global | market | turmoil would limit optim base |
| financ | asian bank major player structur | financ | instead bank region remain focus |
| market | dramat moreov less tradit export | market | latin america gulf countri hold |
| countri | export market latin america gulf | countri | hold well despit us slowdown |
| global | crisi thing look differ today | global | economi sinc tumbl sever recess |
| economi | thing look differ today global | economi | sinc tumbl sever recess recent |
| econom | tumbl sever recess recent world | econom | outlook asia region econom outlook |
| econom | world econom outlook asia region | econom | outlook public fulli describ event |
| global | describ event lead sharp deterior | global | activ began last year fourth |
| market | year fourth quarter highlight financi | market | disloc began midseptemb combin evapor |
| economi | combin evapor consum confid advanc | economi | job loss loom credit avail |
| economi | sharpli pullback consum reverber exportdepend | economi | includ mani asia sharp correct |
| market | last year caus mani new | market | asian export contract well first |
| polici | asia sever describ region anticrisi | polici | respons discuss outlook go forward |
| global | communiti includ asia region respond | global | crisi particular outlin various way |
| global | outlin various way imf contribut | global | respons crisi first asia hit |
| global | crisi first asia hit sever | global | slowdown fourth quarter last year |
| global | slowdown fourth quarter last year | global | gdp fell unpreced percent annual |
| economi | last year consum u advanc | economi | becam dramat less will abl |
| economi | quarter output declin across asian | economi | advanc manufactur share gdp includ |
| also | intraregion trade cours trade shock | also | spill domest demand consumpt privat |
| economi | fix invest japan newli industri | economi | includ korea hong kong sar |
| also | peak declin asian crisi asia | also | turn far less insul anticip |
| market | far less insul anticip financi | market | turmoil subprim crisi pose direct |
| global | threat asian bank indirect impact | global | financi disrupt region prove extrem |
| global | experienc sudden stop capit result | global | crisi intern bank flow emerg |
| market | began collect late region equiti | market | experienc net outflow billion two |
| financ | recent quarter extern corpor bond | financ | dri almost complet contribut sharpli |
| economi | complet contribut sharpli slow contract | economi | weaken currenc much regionon posit |
| econom | throughout region last decad strengthen | econom | polici framework made possibl respond |
| polici | region last decad strengthen econom | polici | framework made possibl respond forc |
| polici | respond forc crisi eas macroeconom | polici | undertak rang step preserv financi |
| need | durat downturn addit effort could | need | next year strengthen bank capit |
| also | next year strengthen bank capit | also | may necessari case order limit |
| econom | limit advers feedback loop slow | econom | growth deterior loan portfolio asian |
| growth | advers feedback loop slow econom | growth | deterior loan portfolio asian bank |
| polici | sign late part reflect strong | polici | action alreadi taken region credit |
| market | action alreadi taken region credit | market | disloc reced financi market sentiment |
| market | credit market disloc reced financi | market | sentiment improv countri busi consum |
| countri | reced financi market sentiment improv | countri | busi consum confid appear bottom |
| global | broad recoveri asia depend speed | global | econom turnaround world econom outlook |
| econom | recoveri asia depend speed global | econom | turnaround world econom outlook anticip |
| econom | speed global econom turnaround world | econom | outlook anticip return global expans |
| global | world econom outlook anticip return | global | expans next year thus global |
| global | global expans next year thus | global | economi reviv asia well howev |
| economi | expans next year thus global | economi | reviv asia well howev recoveri |
| economi | like gradual past recess project | economi | emerg asia exclud china india |
| growth | near percent year return modest | growth | Â ½ percent even china |
| growth | ½ percent even china india | growth | set slow signific although cours |
| growth | privat invest help maintain overal | growth | around  ½ percent china |
| global | low import content public invest | global | challeng overcom great recess afterwardsturn |
| global | overcom great recess afterwardsturn broader | global | perspect clear current crisi come |
| global | strike degre interdepend lie heart | global | economi becom clear overcom crisi |
| economi | degre interdepend lie heart global | economi | becom clear overcom crisi requir |
| polici | requir decis coher mutual consist | polici | effort best develop implement cooper |
| also | best develop implement cooper manner | also | clear collabor multilater approach econom |
| econom | also clear collabor multilater approach | econom | financi polici issu requir futur |
| polici | collabor multilater approach econom financi | polici | issu requir futur global growth |
| global | financi polici issu requir futur | global | growth potenti realiz fulli stabil |
| growth | polici issu requir futur global | growth | potenti realiz fulli stabil reestablish |
| economi | restor financi sector function advanc | economi | necessari condit renew growth princip |
| growth | advanc economi necessari condit renew | growth | princip goal restructur impair financi |
| need | goal restructur impair financi institut | need | rapid thaw frozen market even |
| market | institut need rapid thaw frozen | market | even take account strenuous effort |
| market | strenuous effort implement mani affect | market | addit effort need success achiev |
| need | mani affect market addit effort | need | success achiev even though decis |
| economi | total percent gdp advanc g | economi | approxim degre fiscal stimulus appli |
| need | remain similar howev fiscal author | need | retain flexibl stanc anticip possibl |
| need | retain flexibl stanc anticip possibl | need | new polici action also embed |
| polici | stanc anticip possibl need new | polici | action also embed stimulus mediumterm |
| also | possibl need new polici action | also | embed stimulus mediumterm fiscal framework |
| need | region third messag concret action | need | immedi insur emerg market develop |
| market | action need immedi insur emerg | market | develop economi cushion doubl blow |
| economi | immedi insur emerg market develop | economi | cushion doubl blow deliv simultan |
| global | demand updat imf toolkit meet | global | challengeslook beyond challeng overcom great |
| global | sustain stabl better balanc durabl | global | growth reform includ improv imf |
| growth | stabl better balanc durabl global | growth | reform includ improv imf anticrisi |
| financ | improv imf anticrisi toolkit improv | financ | mechan strengthen monitor econom financi |
| econom | improv financ mechan strengthen monitor | econom | financi develop doubl list daunt |
| need | develop doubl list daunt task | need | cure crisi afterward repres particular |
| econom | uniqu constitut mandat establish sustain | econom | progress stabil call help provid |
| financ | progress stabil call help provid | financ | insur global liquid direct articl |
| global | call help provid financ insur | global | liquid direct articl agreement conduct |
| econom | candid independ evenhand monitor intern | econom | financi system order fulfil respons |
| need | success howev long clear fund | need | implement sever import improv repres |
| market | origin narrow segment u hous | market | eventu spread explos everi corner |
| market | increas complex web spillov financi | market | real economi sudden stop past |
| economi | web spillov financi market real | economi | sudden stop past year intern |
| market | intern capit flow especi emerg | market | develop economi present dramat challeng |
| economi | flow especi emerg market develop | economi | present dramat challeng fund financ |
| financ | economi present dramat challeng fund | financ | role crisi unfold imf help |
| market | crisi unfold imf help emerg | market | notabl central eastern europ larg |
| financ | notabl central eastern europ larg | financ | packag help overcom financ constraint |
| financ | larg financ packag help overcom | financ | constraint mitig econom social cost |
| econom | help overcom financ constraint mitig | econom | social cost crisi world highvolum |
| financ | flow chang cours swift imf | financ | packag must larg enough make |
| also | enough make differ fund assist | also | must avail form appropri effect |
| countri | must avail form appropri effect | countri | need adjust macroeconom polici order |
| need | avail form appropri effect countri | need | adjust macroeconom polici order restor |
| polici | effect countri need adjust macroeconom | polici | order restor stabil tradit fund |
| countri | welldesign adequ scale recent year | countri | reluct turn fund situat becom |
| growth | element essenti meet basic stabil | growth | goal moreov approach current crisi |
| market | weak extern demand afflict emerg | market | economi advanc economi growth resum |
| economi | extern demand afflict emerg market | economi | advanc economi growth resum encourag |
| economi | afflict emerg market economi advanc | economi | growth resum encourag use countercycl |
| growth | emerg market economi advanc economi | growth | resum encourag use countercycl polici |
| polici | growth resum encourag use countercycl | polici | appropri mean relax fiscal target |
| countri | mean relax fiscal target program | countri | prudent cours fund condit remain |
| countri | scale focus condit encourag member | countri | address problem earli substanti enhanc |
| financ | could impact world fastmov securit | financ | exampl rather mere bemoan investor |
| need | investor contagion past episod fund | need | instrument would reduc risk investor |
| global | effect insur facil major gap | global | financi architectur mani countri especi |
| countri | gap global financi architectur mani | countri | especi asia instead opt selfinsur |
| countri | buffer might make sens singl | countri | almost certain suboptim global perspect |
| global | singl countri almost certain suboptim | global | perspect better altern fund intent |
| countri | perspect better altern fund intent | countri | follow appropri polici abl count |
| polici | fund intent countri follow appropri | polici | abl count avail adequ liquid |
| global | provid multilater fashion consist improv | global | balanc accord crisi help convinc |
| financ | facil establish provid rapid upfront | financ | larg amount ex post condit |
| countri | larg amount ex post condit | countri | strong econom polici proven track |
| econom | ex post condit countri strong | econom | polici proven track record mexico |
| polici | post condit countri strong econom | polici | proven track record mexico poland |
| countri | alreadi tap new facil surpris | countri | follow nottoodist futur earli experi |
| market | facil enhanc fcl user financi | market | stand bode well futur countri |
| countri | market stand bode well futur | countri | benefit larg precautionari arrang need |
| need | countri benefit larg precautionari arrang | need | polici adjust creat high access |
| polici | benefit larg precautionari arrang need | polici | adjust creat high access precautionari |
| also | high access precautionari arrang hapa | also | modifi concession lend facil enhanc |
| countri | use increas divers set lowincom | countri | alreadi doubl access limit exist |
| countri | impress progress achiev mani develop | countri | past year resourc need urgent |
| need | develop countri past year resourc | need | urgent protect vulner popul part |
| countri | provid billion concession resourc lowincom | countri | next two year context essenti |
| financ | year context essenti reform imf | financ | facil world leader pledg tripl |
| countri | fund capac concession lend lowincom | countri | sure awar japan play lead |
| economi | role form consensus around advanc | economi | anticrisi polici respons basic multilater |
| polici | consensus around advanc economi anticrisi | polici | respons basic multilater surveil instrument |
| econom | basic multilater surveil instrument world | econom | outlook global financi stabil report |
| global | surveil instrument world econom outlook | global | financi stabil report benchmark refer |
| econom | right risk runup crisi optimist | econom | situat advanc economi issu warn |
| economi | crisi optimist econom situat advanc | economi | issu warn risk accumul warn |
| countri | understand macrofinanci linkag expand analysi | countri | vulner encompass advanc economi moreov |
| economi | analysi countri vulner encompass advanc | economi | moreov collabor newlyenlarg financi stabil |
| market | warn exercis cover advanc emerg | market | countri aim help respond prospect |
| countri | exercis cover advanc emerg market | countri | aim help respond prospect risk |
| countri | fashion imf surveil effect member | countri | must readi receiv candid evenhand |
| need | washington encourag improv monitor surveil | need | bolster improv rule standard especi |
| market | rule standard especi regard financi | market | financi stabil board take lead |
| countri | fact much hing legitimaci whether | countri | approach us meet financ need |
| financ | whether countri approach us meet | financ | need earli whether countri listen |
| need | countri approach us meet financ | need | earli whether countri listen polici |
| countri | meet financ need earli whether | countri | listen polici advic take earli |
| polici | need earli whether countri listen | polici | advic take earli warn serious |
| econom | fund close reflect member relat | econom | weight imf quota everyth dynam |
| market | imf quota everyth dynam emerg | market | alreadi serious global player treat |
| global | dynam emerg market alreadi serious | global | player treat voic polici debat |
| polici | serious global player treat voic | polici | debat increas heard insid fund |
| global | debat increas heard insid fund | global | fora conclud remark sum current |
| also | culmin risk hardship great recess | also | inspir unpreced respons term strong |
| polici | unpreced respons term strong anticrisi | polici | measur term potenti structur chang |
| global | measur term potenti structur chang | global | market intern institut part imf |
| market | term potenti structur chang global | market | intern institut part imf adapt |
| global | part imf adapt rapid new | global | realiti prospect develop provid key |
| econom | buti kind invit particip brussel | econom | forum global economi financi system |
| global | invit particip brussel econom forum | global | economi financi system continu face |
| economi | particip brussel econom forum global | economi | financi system continu face import |
| need | challeng provok natur question whether | need | throw old rule book financi |
| need | page add new chapter word | need | revolut reform regulatori model last |
| global | discuss topic repres fund divers | global | membership glad abl share thought |
| global | assess current situat begin assess | global | financi condit global financi system |
| global | begin assess global financi condit | global | financi system remain stress although |
| market | recent tentat sign improv financi | market | acut interbank stress follow lehman |
| market | price rebound recent low emerg | market | equiti spread improv welcom increas |
| also | reach extraordinari level recent month | also | see tentat sign equiti market |
| market | also see tentat sign equiti | market | reopen bank provid help scope |
| need | spring frost vulner underscor critic | need | avoid complac underpin tentat sign |
| polici | underpin tentat sign recoveri sustain | polici | commit heal financi sector indispens |
| market | particular first uncertainti health matur | market | bank may continu undermin fund |
| market | undermin fund prospect general confid | market | public second risk privat capit |
| market | risk privat capit outflow emerg | market | continu acceler depriv world muchneed |
| growth | acceler depriv world muchneed engin | growth | third risk mediumterm sustain public |
| financ | third risk mediumterm sustain public | financ | compromis includ result fiscal support |
| econom | like continu accru alongsid deterior | econom | activ bank alreadi reel loss |
| need | overleverag occur last sever year | need | unwound imf baselin forecast estim |
| polici | credit get flow depend critic | polici | respons polici respons rapid forc |
| polici | flow depend critic polici respons | polici | respons rapid forc effect mean |
| market | cost turn second risk emerg | market | capit outflow truli differ episod |
| market | state quick spread europ emerg | market | crossbord capit inflow emerg market |
| market | market crossbord capit inflow emerg | market | expect negat possibl recoveri moreov |
| market | stop intern capit flow emerg | market | affect predomin privat rather sovereign |
| financ | third key risk impair public | financ | see amount net sovereign debt |
| need | see amount net sovereign debt | need | issu short term matur market |
| market | need issu short term matur | market | larg project rise annual averag |
| market | trillion dollar factor two half | market | concern regard mediumterm fiscal sustain |
| market | affect sovereign cds spread matur | market | countri narrow spread crisi given |
| countri | sovereign cds spread matur market | countri | narrow spread crisi given way |
| market | somewhat perhap reflect fall uncertainti | market | general ii immedi polici responseto |
| polici | uncertainti market general ii immedi | polici | responseto deal import risk fund |
| need | deal import risk fund emphas | need | immedi forc effect polici respons |
| polici | emphas need immedi forc effect | polici | respons focus restor confid financi |
| market | guarante take measur restart securit | market | second assess sound bank balanc |
| need | must prompt resolv bank recapit | need | fund rais prefer market possibl |
| market | recapit need fund rais prefer | market | possibl public fund use certain |
| countri | clear teach us singl approach | countri | inde countri take differ approach |
| countri | us singl approach countri inde | countri | take differ approach implement principl |
| countri | step recent taken u european | countri | stress test bank address asset |
| countri | shortfal step welcom import affect | countri | continu make progress along line |
| need | take question pose begin whether | need | throw old rule book rather |
| global | frameworka look reform regulatori framework | global | financ four issu stand first |
| financ | look reform regulatori framework global | financ | four issu stand first need |
| need | financ four issu stand first | need | expand perimet financi sector regul |
| market | procycl financi system given current | market | practic exacerb earlier lend boom |
| need | lend boom subsequ crisi third | need | better disclosur given hallmark present |
| market | creat problem addit bank relianc | market | disciplin prove ineffect constrain risk |
| market | financi institut disrupt key financi | market | system repercuss would suggest need |
| need | market system repercuss would suggest | need | add chapter rulebook aim increas |
| also | resolut tool resolv fail institut | also | acknowledg clear instanc supervis regul |
| growth | current crisi promot rapid credit | growth | economi boom restrict credit economi |
| economi | crisi promot rapid credit growth | economi | boom restrict credit economi turn |
| economi | growth economi boom restrict credit | economi | turn reduc procycl import element |
| need | provis liquid incent general regul | need | balanc care tradeoff rule discret |
| market | third area reform disclosur import | market | disciplin also need ensur disclos |
| also | reform disclosur import market disciplin | also | need ensur disclos inform accur |
| need | disclosur import market disciplin also | need | ensur disclos inform accur inform |
| global | therefor concert consist approach disclosur | global | basi would substanti benefit strengthen |
| market | basi would substanti benefit strengthen | market | disciplin would develop common databas |
| global | common databas compar financi statist | global | activ bank import exampl gap |
| countri | avail basic bank data across | countri | crisi uniqu modern time term |
| need | dimens fourth area rule book | need | reform perhap new thick chapter |
| need | reform perhap new thick chapter | need | consist crossbord resolut deposit insur |
| countri | develop colleg supervisor involv author | countri | respons supervis global activ bank |
| global | involv author countri respons supervis | global | activ bank need let say |
| need | respons supervis global activ bank | need | let say connect europ opportun |
| also | framework reform rule book must | also | consid implement one key lesson |
| market | supervis regul adapt respons financi | market | develop innov experi show regul |
| market | show regul typic lag behind | market | develop surpris innov take place |
| market | regul must keep watch eye | market | develop understand emerg risk evolv |
| need | risk evolv marketwid practic regul | need | respond anoth issu relat basel |
| market | aim adapt regulatori supervisori practic | market | develop fund support implement basel |
| market | basel ii introduct particular emerg | market | bank supervisori system must first |
| countri | adequ implement basel capit rule | countri | advanc sophist basel ii guidelin |
| also | across membership effect applic rule | also | requir strengthen abil account regulatori |
| countri | ahead present crisi vari wide | countri | know spain supervisor use exist |
| also | assess act upon macroprudenti risk | also | essenti effect implement rule book |
| polici | account financi consider take monetari | polici | decis pursuit ultim polici goal |
| polici | monetari polici decis pursuit ultim | polici | goal european central bank case |
| need | price stabil likewis regul supervisor | need | adequ fulli take account system |
| polici | repercuss financi sector result monetari | polici | macroeconom develop short also incorpor |
| also | monetari polici macroeconom develop short | also | incorpor macroprudenti dimens regulatori supervisori |
| countri | implement standard base work member | countri | also contribut intern effort develop |
| also | standard base work member countri | also | contribut intern effort develop better |
| countri | crisi manag tool support member | countri | enhanc central bank oper framework |
| also | aim improv cooper collabor fund | also | activ particip g process took |
| countri | expand program assess qualiti effect | countri | financi sector infrastructur encompass macroprudenti |
| market | author assess whether financi institut | market | instrument system import focus institut |
| also | best practic term regulatori cooper | also | start work fsb anoth key |
| need | financi risk possibl action would | need | taken reduc risk work develop |
| polici | stabil never consequ keep topic | polici | agenda import task discuss one |
| econom | one take place today brussel | econom | forum major role play regard |
| polici | time confer discuss allimport issu | polici | coordin crisi manag talk lot |
| need | crisi manag talk lot late | need | cooper macroeconom financi policymak theme |
| countri | policymak theme today decis taken | countri | base sole nation interest may |
| countri | happen often past crisi broke | countri | initi inclin coordin polici initi |
| polici | broke countri initi inclin coordin | polici | initi polici tend reactiv respond |
| polici | initi inclin coordin polici initi | polici | tend reactiv respond need particular |
| need | initi polici tend reactiv respond | need | particular institut aros problem particular |
| countri | let give exampl crisi broke | countri | act uncoordin manner expand lender |
| countri | depositor recapit bank public fund | countri | react move other pretti quick |
| also | crossbord shift deposit took place | also | tendenc toward explicit financi protect |
| countri | tendenc toward explicit financi protect | countri | favor domest lend capit repatri |
| countri | iceland bank system lehman fell | countri | move immedi ringfenc asset jurisdict |
| countri | nonresid depositor author fail coordin | countri | question countri end seiz iceland |
| countri | author fail coordin countri question | countri | end seiz iceland bank asset |
| global | learn financi crisi evolv becam | global | polici respons gradual becam coordin |
| polici | financi crisi evolv becam global | polici | respons gradual becam coordin saw |
| global | becam coordin saw benefit cooper | global | fiscal stimulus coordin liquid provis |
| also | approach cleans bank balanc sheet | also | saw recent agreement broker vienna |
| countri | macroeconom financi sector policymak think | countri | made great progress take common |
| polici | take common approach monetari fiscal | polici | search solut global crisi less |
| global | monetari fiscal polici search solut | global | crisi less financi sector regul |
| polici | address issu turn experi monetari | polici | coordinationlet begin monetari polici policymak |
| polici | monetari polici coordinationlet begin monetari | polici | policymak immedi deploy monetari arsenal |
| countri | will go term action coordin | countri | coordin main inform central bank |
| polici | depress longer deeper could monetari | polici | respons neither consist coordin crisi |
| polici | progress saw success wave monetari | polici | action central bank went progress |
| econom | central bank went progress prevent | econom | freefal begin central bank focus |
| market | attent eas liquid lubric financi | market | get machineri work loosen term |
| also | basi point major central bank | also | slash rate histor low even |
| polici | enough job ammunit began run | polici | rate approach zero bound central |
| market | territori deploy unconvent measur resuscit | market | option plate includ purchas longerterm |
| countri | bank ultim goal similar rememb | countri | unchart water fact will jump |
| need | fact will jump time provid | need | boost confid note coupl key |
| polici | explicit first unpreced coordin cut | polici | rate six major central bank |
| global | matur uniqu arrang design allevi | global | shortag dollar fund repres true |
| global | shortag dollar fund repres true | global | solut global problem experi fiscal |
| global | fund repres true global solut | global | problem experi fiscal polici coordinationthi |
| polici | solut global problem experi fiscal | polici | coordinationthi crisi taught us monetari |
| polici | coordinationthi crisi taught us monetari | polici | enough countri also need dip |
| countri | taught us monetari polici enough | countri | also need dip fiscal polici |
| also | us monetari polici enough countri | also | need dip fiscal polici arsenal |
| need | monetari polici enough countri also | need | dip fiscal polici arsenal know |
| polici | countri also need dip fiscal | polici | arsenal know imf front call |
| countri | earli januari discretionari fiscal loosen | countri | afford made recommend forecast suggest |
| economi | risk deflat would wreak havoc | economi | rais debt burden impair financi |
| polici | back lend reduc effect monetari | polici | also make less like fiscal |
| also | lend reduc effect monetari polici | also | make less like fiscal expans |
| need | one key caveat fiscal stimulus | need | coordin fiscal stimulus less effect |
| economi | fiscal stimulus less effect open | economi | spend feed import benefit output |
| countri | feed import benefit output employ | countri | collect action import countri must |
| countri | employ countri collect action import | countri | must act unison countri act |
| countri | import countri must act unison | countri | act burden individu countri lessen |
| countri | unison countri act burden individu | countri | lessen happen countri act coordin |
| countri | burden individu countri lessen happen | countri | act coordin manner move togeth |
| global | coordin manner move togeth deliv | global | fiscal stimulus percent gdp exact |
| countri | thing time reason unpreced even | countri | alway receiv due credit achiev |
| growth | analysi suggest fiscal expans boost | growth | percentag point year third gain |
| countri | third gain come explicit coordin | countri | still deliv stimulus juri still |
| need | still whether enough whether may | need | experi coordin financi sector regul |
| need | trace explicit weak area clear | need | coordin level let talk littl |
| countri | line inconsist regulatori system across | countri | clear conflict interest rememb supervisori |
| global | essenti step would focus explicit | global | system risk mandat goe beyond |
| need | encompass central bank even govern | need | go need agre framework cooper |
| need | bank even govern need go | need | agre framework cooper deal crossbord |
| countri | regul must appli consist across | countri | across financi activ especi import |
| also | financi regul supervis crossbord institut | also | crossbord market work countri sign |
| market | supervis crossbord institut also crossbord | market | work countri sign take ownership |
| countri | institut also crossbord market work | countri | sign take ownership initi resist |
| need | second coordin resolut tool framework | need | lay common criteria trigger earli |
| countri | get troubl strategi differ across | countri | key get best possibl resolut |
| countri | enhanc inform share home host | countri | supervisor must grant clear legal |
| also | oblig power share inform among | also | local counterpart leav open possibl |
| need | financi stabil board basel committe | need | play lead role imf certain |
| also | check whether follow crisi occur | also | broader role go back key |
| polici | financi sector work better monitor | polici | spillov crosscountri linkag includ linkag |
| market | spillov crosscountri linkag includ linkag | market | institut develop collabor financi stabil |
| market | vulner exercis cover advanc emerg | market | countri new earli warn must |
| countri | exercis cover advanc emerg market | countri | new earli warn must tough |
| econom | flow put pressur balanc sheet | econom | activ region turn pressur get |
| countri | transmit back western europ especi | countri | bank sizeabl subsidiari east way |
| polici | briefli sum argu degre macroeconom | polici | cooper display crisi impress whole |
| countri | cooper display crisi impress whole | countri | right thing togeth world leader |
| polici | vehicl like g use coordin | polici | deliv unifi messag stand stark |
| also | may call great recess must | also | say imf play key role |
| polici | signal done ahead curv pinpoint | polici | respons sinc enter convent wisdom |
| also | sinc enter convent wisdom cours | also | argu record less favor crossbord |
| countri | liquid provis fiscal stimulus among | countri | quit anoth chang domest legisl |
| countri | yet likelihood test ahead forget | countri | also need credibl exit strategi |
| also | likelihood test ahead forget countri | also | need credibl exit strategi polici |
| need | test ahead forget countri also | need | credibl exit strategi polici put |
| polici | also need credibl exit strategi | polici | put place crisi need firm |
| need | strategi polici put place crisi | need | firm plan wind liquid return |
| polici | privat sectorl financi intermedi fiscal | polici | time sow time reap loos |
| polici | time sow time reap loos | polici | today must go handinhand tight |
| polici | today must go handinhand tight | polici | tomorrow complac front lay groundwork |
| also | solvenc problem road exit strategi | also | entail coordin perhap even greater |
| econom | particip eighteenth general meet pacif | econom | cooper council honor part distinguish |
| global | part distinguish panel expert present | global | econom financi crisi asia region |
| econom | distinguish panel expert present global | econom | financi crisi asia region hit |
| market | hit crisi second acut financi | market | pressur three impact financi institut |
| polici | impact financi institut corpor four | polici | respond five lie ahead region |
| growth | advers spillov crisi abrupt deceler | growth | asia rapid region key countri |
| countri | growth asia rapid region key | countri | even sharper epicent global crisi |
| global | key countri even sharper epicent | global | crisi fourth quarter gdp asia |
| econom | close percent seasonallyadjust annual basi | econom | activ key countri deceler signific |
| countri | annual basi econom activ key | countri | deceler signific faster anticip imf |
| also | staff profession forecast intens downsw | also | outstrip imf model predict basi |
| countri | histor correl busi cycl g | countri | region broad term asia hit |
| global | term asia hit hard integr | global | economi collaps demand transmit integr |
| economi | asia hit hard integr global | economi | collaps demand transmit integr suppli |
| economi | effect intraregion trade even serviceori | economi | provid logist financi support hong |
| market | somewhat differ b acut financi | market | pressur asian financi market signific |
| market | financi market pressur asian financi | market | signific hit global deleverag much |
| global | asian financi market signific hit | global | deleverag much region larg buffer |
| financ | provid strong cushion deterior extern | financ | condit howev case korea illustr |
| countri | howev case korea illustr even | countri | larg reserv cushion comfort current |
| polici | comfort current account posit strong | polici | framework hit hard crisi korean |
| market | investor withdrawn domest equiti bond | market | risk avers spike lead substanti |
| also | worldwid shrunk region financi center | also | broadsid hong kong sar financi |
| market | intermedi affect particular asian dollar | market | lend nonbank custom contract recent |
| market | wider risk spread signific stock | market | declin tighten financi condit crisi |
| need | demand recov larg asian corpor | need | retrench product corpor risk rise |
| market | retrench product corpor risk rise | market | indic flash warn sign sign |
| market | asian corpor name ration financi | market | consid approach govern direct assist |
| countri | rate remain relat constant number | countri | moreov greater caution bank rise |
| polici | mechan except china consider monetari | polici | eas alreadi led surg lend |
| countri | eas alreadi led surg lend | countri | close zero interest rate constraint |
| polici | zero interest rate constraint monetari | polici | result central bank turn unconvent |
| market | risk premium unlock activ credit | market | despit effort broader measur money |
| countri | rate remain stubborn high sever | countri | near govern asiapacif region introduc |
| growth | multiyear fiscal stimulus packag support | growth | thank sound polici histor prefer |
| polici | packag support growth thank sound | polici | histor prefer conserv fiscal polici |
| polici | polici histor prefer conserv fiscal | polici | mani countri enter crisi signific |
| countri | prefer conserv fiscal polici mani | countri | enter crisi signific room countercycl |
| global | crisi vivid illustr asia decoupl | global | economi moreov although effort made |
| economi | vivid illustr asia decoupl global | economi | moreov although effort made invigor |
| global | stage continu hing critic rebound | global | activ import asia world avoid |
| market | far held relat well labor | market | yet adjust new global realiti |
| global | labor market yet adjust new | global | realiti consumpt also help real |
| also | adjust new global realiti consumpt | also | help real incom gain lower |
| financ | sheet third era easi credit | financ | purchas new automobil consum electron |
| countri | new automobil consum electron industri | countri | like global economi eventu recov |
| global | consum electron industri countri like | global | economi eventu recov level demand |
| economi | electron industri countri like global | economi | eventu recov level demand asian |
| growth | mani year world asia exportl | growth | strategi may longer pay dividend |
| economi | longer pay dividend past asian | economi | need look much domest economi |
| need | pay dividend past asian economi | need | look much domest economi find |
| economi | economi need look much domest | economi | find way capit compar advantag |
| economi | local demand final smaller vulner | economi | asia could fall fullblown financ |
| financ | economi asia could fall fullblown | financ | crisi countri put place sound |
| countri | could fall fullblown financ crisi | countri | put place sound institut basi |
| global | policymak go face lead edg | global | crisi countri public debt high |
| countri | face lead edg global crisi | countri | public debt high current account |
| need | fester bank corpor balanc sheet | need | special watch despit risk evid |
| global | despit risk evid rate deceler | global | economi abat real question whether |
| economi | risk evid rate deceler global | economi | abat real question whether evid |
| growth | industri product retail sale credit | growth | korea first quarter gdp percent |
| market | depend recoveri demand main export | market | second asian corpor aggress reduc |
| global | sector may reap benefit stabil | global | demand final unpreced polici respons |
| polici | stabil global demand final unpreced | polici | respons crisi far help contain |
| countri | word role fund help asian | countri | general global economi rebound global |
| global | fund help asian countri general | global | economi rebound global crisi consensus |
| economi | help asian countri general global | economi | rebound global crisi consensus recent |
| global | countri general global economi rebound | global | crisi consensus recent g head |
| global | imf play pivot role help | global | economi overcom current crisi emphas |
| economi | play pivot role help global | economi | overcom current crisi emphas point |
| polici | surveil includ monitor fiscal financi | polici | implement member countri second imf |
| countri | fiscal financi polici implement member | countri | second imf continu effort reform |
| countri | facil context although major asian | countri | approach imf support far stand |
| countri | far stand readi assist qualifi | countri | new instrument flexibl credit line |
| also | instrument flexibl credit line g | also | agre imf issu billion new |
| countri | would augment intern reserv member | countri | includ asia third imf develop |
| global | reform govern structur better reflect | global | realiti thank |
| need | like use opportun talk multilater | need | global cooper macroeconom financi sector |
| global | use opportun talk multilater need | global | cooper macroeconom financi sector polici |
| polici | global cooper macroeconom financi sector | polici | know decis taken countri isol |
| countri | sector polici know decis taken | countri | isol may end harm global |
| global | countri isol may end harm | global | economi classic problem coordin problem |
| economi | isol may end harm global | economi | classic problem coordin problem becom |
| econom | coordin problem becom glare time | econom | distress one key lesson great |
| global | wors dramat wors unpreced collaps | global | activ also dire social polit |
| also | wors unpreced collaps global activ | also | dire social polit consequ contribut |
| econom | past embrac multilater cooper approach | econom | financi polici imf born bretton |
| polici | multilater cooper approach econom financi | polici | imf born bretton wood forg |
| global | multilater ideal endow mandat overse | global | financi system act lender last |
| need | last resort member balanc payment | need | stand right heart macroeconom financi |
| polici | right heart macroeconom financi sector | polici | coordin sixti year later although |
| global | great depress made manifest process | global | intern financi integr acceler past |
| global | relev legitimaci perhap victim success | global | boom specter econom crise fade |
| econom | victim success global boom specter | econom | crise fade memori left institut |
| econom | seem like lifetim time midst | econom | crisi origin u hous market |
| market | econom crisi origin u hous | market | immedi infect advanc economi spread |
| economi | hous market immedi infect advanc | economi | spread like wildfir everi corner |
| economi | core lesson learn link real | economi | financi sector deeproot complex world |
| economi | financi sector deeproot complex world | economi | interconnect way imagin also learn |
| also | world economi interconnect way imagin | also | learn multilater solut essenti imf |
| financ | intern institut ideal place address | financ | liquid problem global level conduct |
| global | place address financ liquid problem | global | level conduct candid independ evenhand |
| market | broad one imf help emerg | market | cope sudden stop capit inflow |
| countri | cope sudden stop capit inflow | countri | achiev impress gain growth converg |
| growth | inflow countri achiev impress gain | growth | converg unfortun countri especi eastern |
| countri | impress gain growth converg unfortun | countri | especi eastern europ gain associ |
| financ | account deficit heavi relianc extern | financ | affect countri sound polici solid |
| countri | heavi relianc extern financ affect | countri | sound polici solid fundament larg |
| polici | extern financ affect countri sound | polici | solid fundament larg innoc bystand |
| also | fundament larg innoc bystand crisi | also | extend help advanc countri consid |
| countri | crisi also extend help advanc | countri | consid iceland rich western european |
| countri | consid iceland rich western european | countri | undon leverag asset liabil bank |
| economi | system grew alarm larg relat | economi | outstrip author abil act lender |
| countri | provid necessari financi support lowincom | countri | alreadi hit food fuel price |
| countri | hit food fuel price shock | countri | suffer collaps trade remitt let |
| financ | poverti year earn less day | financ | need met mani million addit |
| need | year earn less day financ | need | met mani million addit children |
| countri | addit billion concession resourc lowincom | countri | next year commit achiev goal |
| countri | mean expect call upon help | countri | year latest forecast releas show |
| global | forecast releas show deterior project | global | economi shrink percent see two |
| economi | releas show deterior project global | economi | shrink percent see two forc |
| economi | late last year continu push | economi | hand correct polici govern implement |
| polici | continu push economi hand correct | polici | govern implement lift economi leav |
| economi | correct polici govern implement lift | economi | leav us well expect recoveri |
| polici | light end tunnel depend right | polici | stop revers descent come back |
| need | evolv imf tri job though | need | beef firefight arsenal end g |
| countri | doubl capac concession lend lowincom | countri | commit achiev target time world |
| also | busi draw lesson present crisi | also | past experi key first step |
| countri | loan access limit includ lowincom | countri | give confid countri meet need |
| countri | includ lowincom countri give confid | countri | meet need also better prevent |
| need | countri give confid countri meet | need | also better prevent fire put |
| also | give confid countri meet need | also | better prevent fire put inde |
| global | absenc insur facil major gap | global | financi architectur mani countri opt |
| countri | gap global financi architectur mani | countri | opt instead selfinsur build larg |
| financ | credit line grant rapid upfront | financ | larg amount ex post condit |
| countri | larg amount ex post condit | countri | proven track record good perform |
| countri | sought access new facil expect | countri | follow third general commit provid |
| financ | commit provid larger amount upfront | financ | across wide rang facil want |
| countri | must becom focus streamlin encourag | countri | approach imf earli thing get |
| need | increas social spend midst serious | need | effort cut deficit exampl social |
| countri | specif protect benefit reduct lowincom | countri | mani program explicit target health |
| also | one final point firefight g | also | support alloc member billion special |
| need | asset borrow nation draw upon | need | expans global liquid would signific |
| global | nation draw upon need expans | global | liquid would signific symbol commit |
| polici | commit intern communiti multilater effect | polici | advisorlet turn anoth major function |
| polici | function multilater institut must role | polici | advisor crisi evolv imf among |
| polici | evolv imf among first pinpoint | polici | respons becom part convent wisdom |
| need | got right case fiscal stimulus | need | restructur bank system let begin |
| countri | recommend earli januari discretionari loosen | countri | afford begin novelti come institut |
| polici | longlast recogn clear limit monetari | polici | environ also argu earli collect |
| also | clear limit monetari polici environ | also | argu earli collect action essenti |
| countri | argu earli collect action essenti | countri | move togeth recommend percent gdp |
| countri | recommend percent gdp pleas note | countri | deliv particular impress unpreced degre |
| countri | intern coordin contrari often said | countri | still deliv stimulus less still |
| need | still whether enough whether may | need | sinc wood yet also note |
| also | may need sinc wood yet | also | note earli speedi recoveri depend |
| countri | crise precis differ way depend | countri | circumst must done policymak must |
| global | asset let forget stake justpublish | global | financi stabil report show system |
| polici | system risk still high without | polici | action address balanc sheet weak |
| need | get wors forget intern dimens | need | coordin among affect economi would |
| economi | dimens need coordin among affect | economi | would caution especi temptat financi |
| countri | financi protection repatri capit advanc | countri | bank pure domest solut today |
| econom | loud clear enough simpli optimist | econom | situat advanc economi lull experi |
| economi | simpli optimist econom situat advanc | economi | lull experi strong growth low |
| growth | advanc economi lull experi strong | growth | low stabl inflat fail pay |
| also | much sound analysi collect action | also | prove elus forg ahead multilater |
| countri | fulli recogn grow linkag across | countri | exercis modest impact think prove |
| econom | exact year ago spring world | econom | outlook forecast wide derid pessimist |
| global | thing happen estim credit loss | global | financi stabil report case ahead |
| polici | financi sector work better monitor | polici | spillov crosscountri linkag develop collabor |
| market | warn exercis cover advanc emerg | market | countri canvass wide rang outsid |
| countri | exercis cover advanc emerg market | countri | canvass wide rang outsid view |
| polici | monitor risk emerg europ highlight | polici | challeng fix exchang rate countri |
| countri | polici challeng fix exchang rate | countri | need comprehens adjust strategi home |
| need | challeng fix exchang rate countri | need | comprehens adjust strategi home host |
| countri | comprehens adjust strategi home host | countri | regul need coordin bank recapit |
| need | strategi home host countri regul | need | coordin bank recapit policymak need |
| need | need coordin bank recapit policymak | need | prepar possibl privat debt restructur |
| need | restructur idea impress upon policymak | need | time coordin comprehens solut legitimaci |
| global | time coordin comprehens solut legitimaci | global | institutionbefor conclud afternoon let address |
| global | topic legitimaci legitimaci multilater institut | global | institut sens tie bind everyth |
| countri | tie bind everyth togeth legitimaci | countri | approach us meet financ need |
| financ | legitimaci countri approach us meet | financ | need late legitimaci mere exist |
| need | countri approach us meet financ | need | late legitimaci mere exist flexibl |
| polici | prevent selfinsur legitimaci nobodi listen | polici | advic take earli warn serious |
| need | advic take earli warn serious | need | reform govern structur give influenc |
| market | govern structur give influenc emerg | market | lowincom countri short voic must |
| countri | give influenc emerg market lowincom | countri | short voic must respect everi |
| countri | seen evenhand independ beholden interest | countri | group countri alway case reform |
| countri | independ beholden interest countri group | countri | alway case reform process began |
| countri | began decis increas quota member | countri | grant emerg market greater stake |
| market | quota member countri grant emerg | market | greater stake institut well increas |
| countri | institut well increas voic lowincom | countri | includ creat addit altern execut |
| need | member hope come forc soon | need | forg forward quota reform speed |
| need | broader consider quota voic reform | need | better job reach civil societi |
| also | say often critic us past | also | need foster divers staff goe |
| need | often critic us past also | need | foster divers staff goe handinhand |
| global | inde prevent futur crise increas | global | world web connect countri activ |
| countri | increas global world web connect | countri | activ continu grow seen wall |
| global | grow seen wall financi sector | global | economi break seen financi sector |
| economi | seen wall financi sector global | economi | break seen financi sector problem |
| countri | seen financi sector problem one | countri | spill swift across border gain |
| countri | border gain momentum return home | countri | even greater feroc need stronger |
| need | home countri even greater feroc | need | stronger global coordin macroeconom financi |
| global | even greater feroc need stronger | global | coordin macroeconom financi sector policymak |
| countri | coordin macroeconom financi sector policymak | countri | come togeth tackl joint problem |
| global | crisi unfold saw benefit cooper | global | fiscal stimulus coordin liquid provis |
| also | coordin liquid provis central bank | also | saw cost noncooper temptat protect |
| countri | cooper multilater win pleas note | countri | increas inclin adopt coordin respons |
| polici | increas inclin adopt coordin respons | polici | challeng note especi achiev g |
| also | challeng note especi achiev g | also | note recent agreement broker imf |
| global | imf rememb end day imf | global | economi welfar near seven billion |
| economi | rememb end day imf global | economi | welfar near seven billion peopl |
| econom | macroeconom manag henc revers decad | econom | declin ever haiti posit anchor |
| growth | poverti reduct job creation faster | growth | remark today focus three key |
| growth | year ago prgf poverti reduct | growth | facil support program began novemb |
| countri | term quota access lowincom member | countri | act catalyst donor support haiti |
| also | price crise sever hurrican haiti | also | track receiv almost billion u |
| econom | haiti made remark progress toward | econom | stabil financ fiscal deficit money |
| financ | remark progress toward econom stabil | financ | fiscal deficit money creation larg |
| growth | around percent summer last year | growth | recov around  ½ percent |
| also | intern reserv strengthen substanti author | also | establish good track record deliv |
| econom | good track record deliv commit | econom | reform agenda step taken strengthen |
| also | bank better control budget expenditur | also | anticorrupt unit becom oper second |
| countri | face difficult combin event like | countri | world need urgent assist haiti |
| need | combin event like countri world | need | urgent assist haiti hit hard |
| econom | estim percent gdp inflat rose | econom | growth deceler sharpli becom negat |
| growth | percent gdp inflat rose econom | growth | deceler sharpli becom negat per |
| economi | toward hipc complet point haitian | economi | also advers affect impact global |
| also | hipc complet point haitian economi | also | advers affect impact global slowdown |
| global | economi also advers affect impact | global | slowdown remitt provid critic lifelin |
| countri | support year resourc would enabl | countri | financ fiscal gap also press |
| financ | year resourc would enabl countri | financ | fiscal gap also press ahead |
| also | enabl countri financ fiscal gap | also | press ahead critic invest project |
| growth | invest project creat job support | growth | reduc poverti third messag beyond |
| also | beyond immedi fund requir haiti | also | need continu support address key |
| need | immedi fund requir haiti also | need | continu support address key develop |
| global | address key develop challeng midst | global | slowdown critic need allevi poverti |
| need | challeng midst global slowdown critic | need | allevi poverti malnutrit consolid stabil |
| polici | continu play part provis macroeconom | polici | advic technic assist area expertis |
| also | line pari declar aid effect | also | hope privat sector foreign investor |
| also | institut bottleneck essenti improv competit | also | macroeconom stabil lead strong econom |
| econom | also macroeconom stabil lead strong | econom | growth otherwis popul start question |
| growth | macroeconom stabil lead strong econom | growth | otherwis popul start question import |
| econom | part continu help haiti enhanc | econom | prospect reduc poverti thank |
| global | deliverygood afternoon delight today talk | global | financi crisi particular imf see |
| global | london impress appreci leader serious | global | recess genuin commit take action |
| global | think get backward real winner | global | economi leader focus must done |
| economi | get backward real winner global | economi | leader focus must done across |
| need | involv other focus urgent action | need | restor growth today also must |
| growth | focus urgent action need restor | growth | today also must done fix |
| also | action need restor growth today | also | must done fix under problem |
| global | almost certain aw year expect | global | growth enter deepli negat territori |
| growth | certain aw year expect global | growth | enter deepli negat territori truli |
| global | enter deepli negat territori truli | global | crisi nobodi escap origin advanc |
| economi | crisi nobodi escap origin advanc | economi | spread like wildfir across world |
| market | like wildfir across world emerg | market | hit hard face doubl punch |
| growth | inflow threaten undo impress gain | growth | converg achiev past decad possibl |
| also | possibl even greater concern crisi | also | arriv shore lowincom countri threaten |
| countri | crisi also arriv shore lowincom | countri | threaten cast million back poverti |
| global | consequ could absolut devast freefal | global | economi may start abat recoveri |
| economi | could absolut devast freefal global | economi | may start abat recoveri emerg |
| polici | recoveri emerg depend crucial right | polici | adopt today cours solut differ |
| countri | adopt today cours solut differ | countri | must coher coordin respons intern |
| need | fiscal stimulus financi support first | need | fix financi sector essenti get |
| global | fix financi sector essenti get | global | economi move done attempt restor |
| economi | financi sector essenti get global | economi | move done attempt restor demand |
| need | sheet toxic asset accompani restructur | need | recapit viabl institut need forc |
| need | restructur need recapit viabl institut | need | forc urgent action well coordin |
| economi | action well coordin among affect | economi | new u plan major step |
| need | bank sell toxic asset second | need | global fiscal stimulus imf recommend |
| global | sell toxic asset second need | global | fiscal stimulus imf recommend earli |
| countri | januari percent gdp discretionari loosen | countri | fiscal space countri larg deliv |
| countri | discretionari loosen countri fiscal space | countri | larg deliv impress degre intern |
| countri | impress degre intern coordin mani | countri | thing time reason cooper unpreced |
| need | time reason cooper unpreced effort | need | sustain wood yet third need |
| need | need sustain wood yet third | need | urgent action financ front especi |
| financ | yet third need urgent action | financ | front especi allevi pressur emerg |
| market | front especi allevi pressur emerg | market | help overcom econom social cost |
| econom | pressur emerg market help overcom | econom | social cost crisi area g |
| countri | doubl concession resourc lend lowincom | countri | resourc make differ time g |
| global | differ time g agre expand | global | liquid billion brought increas special |
| need | asset borrow nation draw upon | need | signific symbol imf role global |
| global | need signific symbol imf role | global | lender last resort togeth decis |
| global | decis deliv necessari financi support | global | economi boost confid help turn |
| economi | deliv necessari financi support global | economi | boost confid help turn tide |
| polici | turn tide crisi complement right | polici | nation level cours three urgent |
| need | flaw nation intern financi architectur | need | address shortcom impress g leader |
| financ | better regul better surveil better | financ | arrang better intern cooper imf |
| market | shone light failur financi regul | market | disciplin financi institut investor took |
| also | liquid order resolut earli intervent | also | need reduc conflict interest fill |
| need | order resolut earli intervent also | need | reduc conflict interest fill gap |
| economi | enough attent strong tie real | economi | financi sector factor like excess |
| also | alarm crisi erupt alway heard | also | realiz world economi interconnect way |
| economi | alway heard also realiz world | economi | interconnect way imagin fair say |
| econom | over cautious nuanc simpli optimist | econom | situat advanc economi lull experi |
| economi | simpli optimist econom situat advanc | economi | lull experi strong growth low |
| growth | advanc economi lull experi strong | growth | low stabl inflat time give |
| countri | issu macrofinanci linkag spillov across | countri | expertis experi crisi broke imf |
| polici | credit loss among first pinpoint | polici | respons becom part convent wisdom |
| economi | expand vulner exercis encompass advanc | economi | feed newlydevelop earli warn exercis |
| financ | issu third area pertain better | financ | arrang mind dramat increas resourc |
| need | cannot simpli busi usual imf | need | adapt lend must becom flexibl |
| countri | must becom flexibl better tailor | countri | circumst adapt introduc packag reform |
| also | busi draw lesson present crisi | also | past experi one key lesson |
| countri | better cure would like encourag | countri | approach imf earli hope crisi |
| economi | earli hope crisi take toll | economi | inde absenc imf insur facil |
| global | imf insur facil major gap | global | financi architectur fix introduc new |
| financ | credit line grant rapid upfront | financ | larg amount ex post imf |
| countri | amount ex post imf condit | countri | proven track record mexico poland |
| countri | sought access new facil expect | countri | follow general commit provid larger |
| financ | commit provid larger amount upfront | financ | across board must point imf |
| polici | across board must point imf | polici | condit remain import need streamlin |
| need | imf polici condit remain import | need | streamlin polici condit tight focus |
| polici | condit remain import need streamlin | polici | condit tight focus core reform |
| countri | object allow greater flexibl tailor | countri | circumst encourag countri approach imf |
| countri | flexibl tailor countri circumst encourag | countri | approach imf earli thing get |
| also | earli thing get realli bad | also | remain commit protect vulner mani |
| need | like address better intern cooper | need | stronger global coordin macroeconom financi |
| global | better intern cooper need stronger | global | coordin macroeconom financi sector policymak |
| global | sector policymak saw benefit cooper | global | fiscal stimulus coordin liquid provis |
| countri | liquid provis saw cost noncooper | countri | protect domest bank system expens |
| financ | play key role multilater approach | financ | surveil imf fulfil mandat effect |
| need | everi corner world alway case | need | reform govern structur give influenc |
| market | govern structur give influenc emerg | market | speed process begun year ago |
| also | commit acceler quota reform earli | also | look forward u congress approv |
| countri | necessari implement reform back member | countri | reform give greater sens ownership |
| countri | give greater sens ownership emerg | countri | foster global polici cooper main |
| global | sens ownership emerg countri foster | global | polici cooper main messag g |
| polici | ownership emerg countri foster global | polici | cooper main messag g summit |
| also | deliveryi would like welcom session | also | thank italian govern organ meet |
| growth | articl agreement facilit expans balanc | growth | intern trade contribut therebi promot |
| global | level employ real incom cours | global | econom crisi face today serv |
| econom | employ real incom cours global | econom | crisi face today serv underscor |
| econom | serv underscor central import issu | econom | financi crisisa awar confront major |
| economi | recoveri begin crisi began advanc | economi | spread emerg low incom countri |
| countri | economi spread emerg low incom | countri | rank unemploy swell everywher worrisom |
| polici | project assum implement strong support | polici | action without outcom would far |
| global | outcom would far wors discuss | global | membership unpreced global cooper need |
| global | wors discuss global membership unpreced | global | cooper need order overcom crisi |
| need | global membership unpreced global cooper | need | order overcom crisi emphas four |
| econom | financi sector sine qua non | econom | recoveri alreadi public fund use |
| also | effort may polit difficult controversi | also | necessari satisfactori growth reestablish time |
| growth | difficult controversi also necessari satisfactori | growth | reestablish time soon second expansionari |
| polici | soon second expansionari monetari budget | polici | need support aggreg demand year |
| need | second expansionari monetari budget polici | need | support aggreg demand year next |
| polici | year next howev impact monetari | polici | weaken financi system problem interest |
| economi | system problem interest rate key | economi | alreadi approach zero innov credit |
| polici | alreadi approach zero innov credit | polici | also may need economi time |
| also | approach zero innov credit polici | also | may need economi time fiscal |
| need | innov credit polici also may | need | economi time fiscal polici inevit |
| economi | credit polici also may need | economi | time fiscal polici inevit play |
| polici | may need economi time fiscal | polici | inevit play key role imf |
| economi | overal discretionari fiscal stimulus g | economi | percent gdp distribut across countri |
| countri | economi percent gdp distribut across | countri | depend specif condit larg countri |
| countri | countri depend specif condit larg | countri | respond appropri decis recommend like |
| need | respond appropri decis recommend like | need | next year everi case howev |
| market | fiscal expans signific impact labor | market | assum rais gdp growth percentag |
| growth | labor market assum rais gdp | growth | percentag point close midpoint estim |
| countri | million job would save g | countri | alon moreov unpreced simultan polici |
| polici | countri alon moreov unpreced simultan | polici | respons prove power accord imf |
| growth | imf analysi fulli onethird benefici | growth | impact anticip fiscal action stem |
| market | stem intern spillov third emerg | market | economi suffer dri capit flow |
| economi | intern spillov third emerg market | economi | suffer dri capit flow weaken |
| polici | case despit fundament strong domest | polici | fund need step direct provid |
| need | fundament strong domest polici fund | need | step direct provid muchneed financ |
| financ | need step direct provid muchneed | financ | catalyz financ other respons need |
| financ | direct provid muchneed financ catalyz | financ | other respons need describ moment |
| need | financ catalyz financ other respons | need | describ moment increas lend capac |
| countri | appropri effect fourth low incom | countri | especi vulner ill afford signific |
| econom | vulner ill afford signific slowdown | econom | growth fund intern partner must |
| growth | ill afford signific slowdown econom | growth | fund intern partner must play |
| global | signific increas concession lend safeguard | global | benefitsin addit action outlin import |
| global | crisi suggest even fundament chang | global | econom system need perspect appropri |
| econom | suggest even fundament chang global | econom | system need perspect appropri world |
| need | fundament chang global econom system | need | perspect appropri world trade grew |
| also | gdp percent percent financi integr | also | intensifi total crossbord financi asset |
| global | crossbord financi asset doubl share | global | gdp sinc rise percent percent |
| global | potenti social cost increas integr | global | economi notabl rise inequ current |
| economi | social cost increas integr global | economi | notabl rise inequ current crisi |
| also | rise inequ current crisi observ | also | question whether global conduc sustain |
| global | crisi observ also question whether | global | conduc sustain growth question natur |
| growth | question whether global conduc sustain | growth | question natur seem post phase |
| global | question natur seem post phase | global | extrem posit balanc acceler growth |
| growth | global extrem posit balanc acceler | growth | help bring liter hundr million |
| econom | remain domin despit almost unpreced | econom | pressur recent month countri respond |
| countri | unpreced econom pressur recent month | countri | respond tri close global market |
| global | month countri respond tri close | global | market inde g leader includ |
| market | countri respond tri close global | market | inde g leader includ particip |
| global | trade financi protection commit enhanc | global | econom cooper nonetheless crisisheighten challeng |
| econom | financi protection commit enhanc global | econom | cooper nonetheless crisisheighten challeng exist |
| global | crisisheighten challeng exist ensur benefit | global | fulli grasp broad share fund |
| econom | meet challeng exampl octob world | econom | outlook focus theme global inequ |
| global | world econom outlook focus theme | global | inequ analysi suggest specif form |
| global | form recent technolog advanc rather | global | per se contribut rise inequ |
| global | doubt howev better spread gain | global | integr think beyond current crisi |
| market | way might accomplish reduc labor | market | rigid enabl worker pursu chang |
| econom | receiv support assist process react | econom | evolut improv educ train help |
| also | protect measur effect unemploy benefit | also | eas transit process encourag skill |
| polici | transit process encourag skill upgrad | polici | increas avail financ less privileg |
| financ | skill upgrad polici increas avail | financ | less privileg advanc trade liber |
| countri | help increas agricultur export develop | countri | also would help spread benefit |
| also | increas agricultur export develop countri | also | would help spread benefit global |
| global | also would help spread benefit | global | polici other relev even current |
| polici | would help spread benefit global | polici | other relev even current crisi |
| also | regain employ rapid possibl measur | also | would boost automat stabil therebi |
| global | emphas risk innov multilater consult | global | imbal sponsor euro area china |
| polici | state earli decis implement recommend | polici | emerg consult would reduc consider |
| econom | reduc consider risk subsequ financi | econom | crisi least would rais save |
| countri | crisi least would rais save | countri | household sector accumul excess debt |
| countri | accumul excess debt increas consumpt | countri | save except high growth unusu |
| growth | consumpt countri save except high | growth | unusu depend extern demand recent |
| need | extern demand recent seen clear | need | coher intern approach financi regul |
| econom | play context crisi work contribut | econom | social sustain first fund provid |
| financ | sustain first fund provid signific | financ | billion date countri hardest hit |
| countri | provid signific financ billion date | countri | hardest hit global recess includ |
| global | billion date countri hardest hit | global | recess includ sever emerg market |
| market | global recess includ sever emerg | market | countri europ suffer dri capit |
| countri | recess includ sever emerg market | countri | europ suffer dri capit inflow |
| econom | inflow fund resourc cushion pain | econom | adjust current underway although countri |
| countri | econom adjust current underway although | countri | circumst remain difficult design fund |
| need | difficult design fund program reflect | need | increas social protect exampl hungarian |
| also | subsidi social assist lowincom group | also | protect el salvador belarus work |
| also | collabor world bank fund program | also | seek improv benefit target second |
| countri | notabl creat flexibl credit line | countri | track record strong polici approv |
| polici | line countri track record strong | polici | approv loan disburs quick without |
| need | without tradit expost perform criteria | need | aris intend new facil make |
| countri | new facil make far like | countri | consult fund well serious difficulti |
| countri | access limit doubl give confid | countri | adequ resourc avail meet basic |
| financ | adequ resourc avail meet basic | financ | need help avoid worst effect |
| need | resourc avail meet basic financ | need | help avoid worst effect sudden |
| polici | place fourth fund redesign lend | polici | lowincom countri order strengthen capac |
| countri | fund redesign lend polici lowincom | countri | order strengthen capac provid concession |
| financ | capac provid concession shortterm emerg | financ | imf object least doubl concession |
| global | learn ongo crisi help ensur | global | economi becom resili work close |
| economi | ongo crisi help ensur global | economi | becom resili work close intern |
| polici | assess implement anticrisi monetari budget | polici | collabor wto guard risk grow |
| econom | stabil forum summari face difficult | econom | challeng mani decad requir coordin |
| global | difficulti obscur import gain increas | global | integr deliv confid fund seek |
| global | member deal nearterm problem ensur | global | economi emerg stronger resili except |
| economi | deal nearterm problem ensur global | economi | emerg stronger resili except difficult |
| econom | dimens action essenti point nation | econom | polici must aim improv live |
| polici | action essenti point nation econom | polici | must aim improv live citizen |
| polici | system europ want storm public | polici | establish system face storm sailor |
| also | system today partial dysfunct loss | also | uncertainti busi model financi sector |
| market | busi model financi sector practic | market | segment fail mani respect financi |
| need | fail mani respect financi intermedi | need | reinvent time global regulatori respons |
| global | financi intermedi need reinvent time | global | regulatori respons underway address perceiv |
| also | caus crisi respons desir necessari | also | add uncertainti sooner public policymak |
| market | put forward object singl financi | market | despit cost crisi undeni larg |
| market | undeni larg rational singl financi | market | remain compel financi integr allow |
| financ | lower risk diversif enabl borrow | financ | less expens reliabl deeper complet |
| market | expens reliabl deeper complet financi | market | provid immedi benefit consum busi |
| econom | immedi benefit consum busi interact | econom | develop technolog innov allow faster |
| econom | technolog innov allow faster product | econom | growth moreov eu integr financi |
| growth | innov allow faster product econom | growth | moreov eu integr financi market |
| market | growth moreov eu integr financi | market | essenti complement integr market good |
| market | financi market essenti complement integr | market | good servic case singl financi |
| market | good servic case singl financi | market | perhap even obvious look altern |
| market | illustr benefit potenti singl financi | market | even recent develop may also |
| also | market even recent develop may | also | illustr accompani transform risk crisi |
| market | integr long understood integr financi | market | allow transmiss shock happen unpreced |
| polici | inadequ sometim faulti regul macroeconom | polici | part reason crisi took global |
| global | polici part reason crisi took | global | scale fact mani causal factor |
| need | innov financi system eu europ | need | financi stabil arrang enabl develop |
| econom | intermedi shape regul supervis perhap | econom | activ cost crisi present histor |
| market | end see prospect integr financi | market | slip away us get close |
| also | propos ambiti farreach well thoughtthrough | also | achiev relat short order notabl |
| need | crossbord author turner review emphas | need | singl regul realiti europ need |
| need | need singl regul realiti europ | need | european supervisori regulatori system combin |
| also | probabl best solut turner review | also | argu rapid crosssector integr eu |
| countri | singl passport involv citizen one | countri | becom depend deposit insur financi |
| countri | littl choic propos increas host | countri | control branch opt tackl under |
| market | resolut nation real singl financi | market | includ singl passport beyond reach |
| need | singl passport beyond reach think | need | revers logic rational singl financi |
| market | revers logic rational singl financi | market | much stronger rational maintain status |
| need | maintain status quo crisi resolut | need | find way organ eulevel system |
| need | decisionmak adher principl heat crisi | need | framework ensur consist implement principl |
| global | europ find junctur genuin risk | global | financi crisi polici reaction derail |
| polici | genuin risk global financi crisi | polici | reaction derail year old quest |
| market | year old quest singl financi | market | avoid much depend policymak decid |
| polici | decad hope discuss morn contribut | polici | debat help effort orchestr recoveri |
| econom | price dysfunct financi system weaken | econom | activ current wit u echo |
| economi | place japan world second largest | economi | japan crisi success resolv public |
| econom | fund deploy recov lost decad | econom | stagnat prolong deflat scar longer |
| growth | last still reflect persist lower | growth | huge public debt burden motiv |
| polici | today seminar aim draw parallel | polici | adopt japan bank crisi need |
| need | polici adopt japan bank crisi | need | get u prevail turmoil revisit |
| countri | bear key question policymak u | countri | face today may find curious |
| growth | impact much less dramat japan | growth | slow sharpli economi shrink annual |
| economi | dramat japan growth slow sharpli | economi | shrink annual basi year real |
| polici | hous downturn fourth relat point | polici | respons much quicker u within |
| economi | result mani peopl expect u | economi | also rebound much quicker come |
| also | mani peopl expect u economi | also | rebound much quicker come pass |
| economi | situat realli differ prognosi u | economi | necessarili much benign unfortun fact |
| market | first despit unpreced action financi | market | stress remain high econom activ |
| econom | financi market stress remain high | econom | activ continu fall mani way |
| market | bank secur hous paralyz financi | market | led system bank crisi still |
| market | seem wood yet second asset | market | remain high volatil amid persist |
| market | deleverag sign bottom yet hous | market | tell japan recoveri possibl excess |
| growth | fourth postbubbl recess undermin longterm | growth | potenti economi risk repric deleverag |
| economi | recess undermin longterm growth potenti | economi | risk repric deleverag financi restructur |
| growth | sustain recoveri took hold earli | growth | rate half percent rate precrisi |
| polici | strong u recoveri depend critic | polici | success conting fiscal stimulus meaning |
| polici | tide foreclosur crucial hing new | polici | measur reviv financi sector address |
| need | longer tem reform rais product | need | prevent last hangov fortun area |
| polici | harder combat cyclic downturn normal | polici | tool tend lose potenc moreov |
| economi | recoveri take hold threaten lock | economi | perman lower growth trajectori polici |
| growth | threaten lock economi perman lower | growth | trajectori polici challeng face u |
| polici | economi perman lower growth trajectori | polici | challeng face u compound complex |
| need | u compound complex distress asset | need | restructur global scope crisi essenc |
| global | complex distress asset need restructur | global | scope crisi essenc similar japan |
| polici | respons appear high relev search | polici | overcom present crisi cours seminar |
| polici | fell zero bound regard fiscal | polici | base japan experi ask measur |
| economi | experi ask measur use stimul | economi | risk debt sustain assess particular |
| growth | sustain assess particular given potenti | growth | could fall financi sector import |
| economi | globe stake could higher world | economi | prevent slip lost decad sens |
| polici | lot depend extent policymak learn | polici | japan employ want prejudg hear |
| global | time seminar face extraordinari condit | global | financi system global economi import |
| global | extraordinari condit global financi system | global | economi import consequ global oil |
| economi | condit global financi system global | economi | import consequ global oil market |
| global | system global economi import consequ | global | oil market inde spoke intern |
| market | economi import consequ global oil | market | inde spoke intern energi forum |
| global | effect whether fluctuat negat impact | global | economi whether practic remedi avail |
| economi | whether fluctuat negat impact global | economi | whether practic remedi avail would |
| global | reduc fluctuat way would enhanc | global | econom perform global downturn oil |
| econom | fluctuat way would enhanc global | econom | perform global downturn oil market |
| global | would enhanc global econom perform | global | downturn oil market fundamentalsoil price |
| market | econom perform global downturn oil | market | fundamentalsoil price tradit volatil mani |
| market | high volatil common associ claim | market | often overshoot relat under fundament |
| econom | appear first glanc chang under | econom | fundament lead complic price dynam |
| market | suppli well factor affect oil | market | condit meaning discuss price overshoot |
| global | overshoot first among factor state | global | economi clear dramat declin oil |
| economi | first among factor state global | economi | clear dramat declin oil price |
| global | unexpect rapid sharp deterior nearterm | global | econom growth prospect today perspect |
| econom | rapid sharp deterior nearterm global | econom | growth prospect today perspect seem |
| growth | sharp deterior nearterm global econom | growth | prospect today perspect seem like |
| global | prospect today perspect seem like | global | output contract annual averag basi |
| market | preced sever downturn result oil | market | adjust quick prospect sustain period |
| market | period weaken consumpt advanc emerg | market | economi mani year robust demand |
| economi | weaken consumpt advanc emerg market | economi | mani year robust demand increas |
| global | increas besid immedi downward pressur | global | busi cycl mediumterm outlook also |
| also | global busi cycl mediumterm outlook | also | weaken global growth expect recov |
| global | cycl mediumterm outlook also weaken | global | growth expect recov time soon |
| growth | mediumterm outlook also weaken global | growth | expect recov time soon rapid |
| econom | effect credit capit flow particular | econom | growth emerg develop economi unlik |
| growth | credit capit flow particular econom | growth | emerg develop economi unlik return |
| economi | particular econom growth emerg develop | economi | unlik return quick high rate |
| global | henc still expect price rise | global | economi recov although dramat pace |
| economi | still expect price rise global | economi | recov although dramat pace record |
| global | peak cours oil price declin | global | slowdown general larg current u |
| global | oil price declin percent averag | global | slowdown sinc moreov correct broad |
| global | analysi suggest unexpect chang annual | global | growth one percentag point associ |
| growth | suggest unexpect chang annual global | growth | one percentag point associ oil |
| global | downward revis sinc earli imf | global | growth forecast percentag point taken |
| growth | revis sinc earli imf global | growth | forecast percentag point taken repres |
| global | postworld war ii period current | global | financi crisi two basic reason |
| global | reason larg oil price respons | global | busi cycl first output oilintens |
| economi | downturn addit output emerg develop | economi | slow rapid ad downward pressur |
| economi | downward pressur price oil demand | economi | respond strong incom chang second |
| market | shift spot price order clear | market | movement typic unwind gradual demand |
| global | chang price simul bank canadaimf | global | econom model report octob world |
| econom | price simul bank canadaimf global | econom | model report octob world econom |
| econom | econom model report octob world | econom | outlook illustr low shortterm price |
| global | oil price adjust respons chang | global | growth expect moreov price respons |
| growth | price adjust respons chang global | growth | expect moreov price respons demand |
| market | recent year particular passthrough intern | market | price domest endus price reduc |
| countri | particular true mani emerg develop | countri | accord oil demand countri show |
| countri | develop countri accord oil demand | countri | show littl sensit intern price |
| global | littl sensit intern price increas | global | boom contrast demand advanc economi |
| economi | global boom contrast demand advanc | economi | passthrough complet immedi similar downturn |
| market | immedi similar downturn lower world | market | price often pass domest price |
| global | price implic oil price respons | global | market unexpect deterior cyclic condit |
| market | implic oil price respons global | market | unexpect deterior cyclic condit even |
| market | downturn short strong shortterm intern | market | price respons shift growth expect |
| growth | intern market price respons shift | growth | expect necessarili constitut overshoot may |
| market | may simpli repres normal oil | market | adjust process said magnitud oil |
| growth | larg relat probabl shift nearterm | growth | expect speed scope weaken mediumterm |
| growth | judgment imf analyst weaken mediumterm | growth | outlook togeth depth current downturn |
| market | class increas integr financi commod | market | driven two main factor first |
| market | place long run financi commod | market | welcom least principl presenc financi |
| market | riskshar hedg wellregul transpar financi | market | also improv process price discoveri |
| also | hedg wellregul transpar financi market | also | improv process price discoveri contribut |
| market | sell short underperform may influenc | market | behavior rapid increas number investor |
| market | price trend period impuls financi | market | would requir rise specul hold |
| market | specul hold real asset inventori | market | clear given oil consumpt eventu |
| market | exposur unwind posit therebi reduc | market | liquid increas price volatil similar |
| market | overal therefor view remain financi | market | dynam flow major driver recent |
| also | commod spot price reflect current | also | expect futur market condit first |
| market | reflect current also expect futur | market | condit first difficulti data limit |
| market | data limit make assess oil | market | condit difficult comprehens data global |
| global | market condit difficult comprehens data | global | demand suppli often lag frequent |
| global | suppli often lag frequent revis | global | inventori data avail price expect |
| market | latter readili avail indic current | market | condit result momentum price expect |
| market | fundament level oil price difficulti | market | influenc sentiment short term clear |
| econom | across globe combin effect rise | econom | slack averag inflat advanc economi |
| economi | econom slack averag inflat advanc | economi | expect declin  ½ percent |
| economi |  ¼ percent emerg develop | economi | inflat also expect subsid  |
| also | percent emerg develop economi inflat | also | expect subsid  ¾ percent |
| need | percent fall inflat creat much | need | room monetari polici eas fall |
| polici | creat much need room monetari | polici | eas fall oil price also |
| also | polici eas fall oil price | also | boost household purchas power although |
| polici | contribut along expansionari monetari budget | polici | eventu stabil aggreg demand recoveri |
| growth | eventu stabil aggreg demand recoveri | growth | estim base januari world econom |
| econom | growth estim base januari world | econom | outlook forecast suggest redistribut purchas |
| global | could high  ½ percent | global | gdp thus impact consum spend |
| global | gdp thus impact consum spend | global | growth might close contribut fiscal |
| growth | thus impact consum spend global | growth | might close contribut fiscal stimulus |
| countri | contribut fiscal stimulus implement mani | countri | oil price declin downsid undoubt |
| global | downsid undoubt bring stabil benefit | global | economi two channel remain cogniz |
| economi | undoubt bring stabil benefit global | economi | two channel remain cogniz longerterm |
| financ | latter forc produc seek extern | financ | even invest grade borrow find |
| polici | stage anoth price runup futur | polici | limit larg price swing lower |
| polici | answer probabl yes nevertheless scope | polici | help reduc oil price volatil |
| econom | price swing well action cushion | econom | impact demand side polici effort |
| polici | cushion econom impact demand side | polici | effort focus strengthen respons domest |
| market | respons domest endus price chang | market | condit includ passthrough price chang |
| market | includ passthrough price chang intern | market | oil demand would becom price |
| global | invest oil industri whole time | global | accur data oil demand suppli |
| market | given current difficulti assess oil | market | condit market still reli narrow |
| market | difficulti assess oil market condit | market | still reli narrow set data |
| market | oil data initi jodi greater | market | transpar much strengthen regulatori oversight |
| market | price discoveri process commod financi | market | global reach market oversight requir |
| global | discoveri process commod financi market | global | reach market oversight requir greater |
| market | commod financi market global reach | market | oversight requir greater coordin among |
| global | natur respons abrupt dramat chang | global | econom growth prospect main threat |
| econom | respons abrupt dramat chang global | econom | growth prospect main threat oil |
| growth | abrupt dramat chang global econom | growth | prospect main threat oil market |
| market | growth prospect main threat oil | market | instabl stem prospect global economi |
| global | oil market instabl stem prospect | global | economi could weaken come quarter |
| economi | market instabl stem prospect global | economi | could weaken come quarter aggress |
| polici | could weaken come quarter aggress | polici | support measur reduc risk financi |
| econom | measur reduc risk financi strain | econom | weak form corros feedback loop |
| global | corros feedback loop continu threat | global | outlook press prioriti stabil global |
| global | global outlook press prioriti stabil | global | financi system provid effect stimulus |
| global | financi system provid effect stimulus | global | aggreg demand effect polici action |
| polici | stimulus global aggreg demand effect | polici | action global downturn curtail recoveri |
| global | aggreg demand effect polici action | global | downturn curtail recoveri start get |
| global | way look ahead howev durabl | global | econom recoveri part depend upon |
| econom | look ahead howev durabl global | econom | recoveri part depend upon develop |
| market | part depend upon develop oil | market | avoid excess swing price produc |
| market | price produc consum financi investor | market | regul need share improv transpar |
| need | consum financi investor market regul | need | share improv transpar function oversight |
| global | function oversight ultim supplydemand balanc | global | oil market |
| market | ultim supplydemand balanc global oil | market | |
| global | meet particular time given develop | global | economi would like thank govern |
| economi | particular time given develop global | economi | would like thank govern opportun |
| economi | govern opportun discuss outlook lao | economi | difficult junctur focus remark today |
| global | junctur focus remark today overview | global | econom outlook challeng may pose |
| econom | focus remark today overview global | econom | outlook challeng may pose lao |
| global | pose lao p d r | global | econom develop let start latest |
| econom | lao p d r global | econom | develop let start latest assess |
| global | develop let start latest assess | global | econom develop know outlook global |
| econom | let start latest assess global | econom | develop know outlook global economi |
| global | global econom develop know outlook | global | economi weaken signific face ongo |
| economi | econom develop know outlook global | economi | weaken signific face ongo strain |
| global | weaken signific face ongo strain | global | financi system declin produc consum |
| market | produc consum confid turmoil financi | market | start advanc economi spread emerg |
| economi | turmoil financi market start advanc | economi | spread emerg develop economi rais |
| economi | advanc economi spread emerg develop | economi | rais concern synchron econom slowdown |
| econom | develop economi rais concern synchron | econom | slowdown extraordinari polici action help |
| polici | concern synchron econom slowdown extraordinari | polici | action help avert collaps financi |
| market | action help avert collaps financi | market | like remain consider stress time |
| polici | consider stress time come aggress | polici | eas major economi expect lay |
| economi | come aggress polici eas major | economi | expect lay groundwork econom recoveri |
| econom | major economi expect lay groundwork | econom | recoveri late howev recoveri like |
| economi | almost point lower output advanc | economi | project contract first declin sinc |
| growth | declin sinc world war ii | growth | emerg economi expect remain robust |
| economi | world war ii growth emerg | economi | expect remain robust project declin |
| growth | remain robust project declin appreci | growth | asia expect slow substanti along |
| global | rest world export weaken spillov | global | financi turmoil weigh domest activ |
| growth | turmoil weigh domest activ weaken | growth | outlook coupl global deleverag also |
| global | activ weaken growth outlook coupl | global | deleverag also depress commod price |
| also | growth outlook coupl global deleverag | also | depress commod price oil price |
| also | price fallen similar price gold | also | signific lower oil food price |
| growth | pressur around world lower incom | growth | prospect commod export economi lao |
| economi | incom growth prospect commod export | economi | lao pdr lao p d |
| econom | pdr lao p d r | econom | outlook impact global econom crisi |
| global | d r econom outlook impact | global | econom crisi lao p d |
| econom | r econom outlook impact global | econom | crisi lao p d r |
| global | limit far littl direct exposur | global | financi market volatil extern capit |
| market | littl direct exposur global financi | market | volatil extern capit flow howev |
| global | could signific go forward especi | global | recess deeper prolong forecast potenti |
| global | deeper prolong forecast potenti channel | global | econom slowdown could feed lao |
| econom | prolong forecast potenti channel global | econom | slowdown could feed lao p |
| global | d r includ export downturn | global | economi would like decreas export |
| economi | r includ export downturn global | economi | would like decreas export demand |
| also | affect sharp drop commod price | also | affect export obvious mine sector |
| also | affect export obvious mine sector | also | export especi agricultur commod foreign |
| market | direct invest weaker demand export | market | lower export price rise fund |
| also | sector notabl agricultur sector may | also | affect local ancillari activ cement |
| econom | pace project implement remitt signific | econom | downturn materi impact remitt advanc |
| economi | downturn materi impact remitt advanc | economi | migrant labor region remitt import |
| also | incom support mani famili may | also | import sourc invest especi land |
| growth | properti sector domest demand lower | growth | export invest remitt like result |
| econom | remitt like result general slowdown | econom | activ especi associ declin consum |
| growth | latest project reflect challeng expect | growth | moder  ¾ percent around |
| polici | coincid excess eas monetari fiscal | polici | see outlook subject signific degre |
| global | degre uncertainti one hand deeper | global | downturn would weaken outlook export |
| global | weaken outlook export remitt tighter | global | financi condit would advers implic |
| econom | appear remain robust may support | econom | activ extern posit domest demand |
| also | extern posit domest demand may | also | prove resili project meet challeng |
| economi | meet challeng immedi prioriti steer | economi | safe past nearterm difficulti ensur |
| global | difficulti ensur macroeconom financi stabil | global | economi goe sever econom downturn |
| economi | ensur macroeconom financi stabil global | economi | goe sever econom downturn emphasi |
| econom | stabil global economi goe sever | econom | downturn emphasi must safeguard econom |
| econom | econom downturn emphasi must safeguard | econom | progress lao p d r |
| global | measur address challeng pose weaken | global | economi requir care assess potenti |
| economi | address challeng pose weaken global | economi | requir care assess potenti vulner |
| economi | requir care assess potenti vulner | economi | well recognit econom polici may |
| econom | potenti vulner economi well recognit | econom | polici may need respond quick |
| polici | vulner economi well recognit econom | polici | may need respond quick fast |
| need | well recognit econom polici may | need | respond quick fast move event |
| econom | point asid lack data key | econom | financi variabl major impedi sound |
| polici | financi variabl major impedi sound | polici | make issu longstand concern need |
| need | polici make issu longstand concern | need | improv qualiti timeli econom data |
| econom | concern need improv qualiti timeli | econom | data taken ad urgenc economi |
| economi | econom data taken ad urgenc | economi | oper much less benign environ |
| economi | less benign environ given challeng | economi | face critic need improv monetari |
| need | given challeng economi face critic | need | improv monetari fiscal balanc payment |
| polici | area second challeng craft macroeconom | polici | navig economi past near term |
| economi | challeng craft macroeconom polici navig | economi | past near term risk end |
| polici | term risk end would suggest | polici | guid follow consider fiscal polici |
| polici | polici guid follow consider fiscal | polici | budget framework may need reassess |
| need | fiscal polici budget framework may | need | reassess lower commod price reduc |
| econom | signific around percent gdp lower | econom | activ could also affect collect |
| also | gdp lower econom activ could | also | affect collect corpor profit well |
| need | increas support vulner group may | need | budgetari implic sea game still |
| financ | support may requir scope domest | financ | remain constrain monetari polici renew |
| polici | domest financ remain constrain monetari | polici | renew effort need contain current |
| need | constrain monetari polici renew effort | need | contain current pace credit expans |
| growth | latest data current avail deposit | growth | fallen around percent percent begin |
| need | bank close monitor bank system | need | econom activ slow month ahead |
| econom | close monitor bank system need | econom | activ slow month ahead expand |
| need | financi condit stateown commerci bank | need | watch particular close especi accumul |
| econom | mediumscal enterpris may special vulner | econom | downturn structur reform focus nearterm |
| economi | reform import longerterm competit lao | economi | would also help bolster investor |
| also | longerterm competit lao economi would | also | help bolster investor confid interest |
| economi | help bolster investor confid interest | economi | goe difficult period let thank |
| polici | p d r best possibl | polici | advic support difficult junctur thank |
| also | mani partner made possibl would | also | like congratul govern tanzania bank |
| also | confer magnific new confer hall | also | great honor address emin repres |
| also | success africa achiev recent year | also | hope shi away discuss difficult |
| global | next two day heard world | global | financi crisiswhat might call great |
| global | sober backdrop confer imf expect | global | growth slow zero year worst |
| growth | backdrop confer imf expect global | growth | slow zero year worst perform |
| countri | third wave crisi hit lowincom | countri | depress econom growth put budget |
| econom | crisi hit lowincom countri depress | econom | growth put budget strain weaken |
| growth | hit lowincom countri depress econom | growth | put budget strain weaken extern |
| econom | strain weaken extern account threat | econom | real risk million thrown back |
| econom | must ensur africa left protect | econom | growth household incom also contain |
| growth | ensur africa left protect econom | growth | household incom also contain threat |
| also | protect econom growth household incom | also | contain threat civil unrest perhap |
| global | africa success help region weather | global | financi storm rage past decad |
| growth | remark africa even much done | growth | subsaharan africa averag per year |
| countri | africa averag per year even | countri | best perform year poverti fallen |
| global | made toward import mdgs favor | global | econom backdrop includ buoyant commod |
| econom | toward import mdgs favor global | econom | backdrop includ buoyant commod price |
| also | price rapid grow foreign demand | also | help see three import lesson |
| econom | sustain macroeconom stabil paid rapid | econom | growth stabil boost confid domest |
| growth | macroeconom stabil paid rapid econom | growth | stabil boost confid domest foreign |
| financ | africa lead much higher commit | financ | knowhow region second strengthen govern |
| econom | strengthen govern critic element improv | econom | financi manag build institut capac |
| econom | institut capac help implement sound | econom | polici turn bolster investor confid |
| polici | capac help implement sound econom | polici | turn bolster investor confid third |
| economi | africa success stori year ago | economi | sever distress plagu widespread shortag |
| econom | look radic differ inflat control | econom | growth averag per year sinc |
| growth | radic differ inflat control econom | growth | averag per year sinc increas |
| econom | strategi mkukuta anchor nation commit | econom | stabil also catalyz signific donor |
| also | anchor nation commit econom stabil | also | catalyz signific donor support attract |
| growth | achiev africa last decad threat | growth | around world almost come halt |
| also | africa product plung tourism revenu | also | like declin consum around world |
| financ | financi flow becom scarc trade | financ | becom scarcer expens foreign invest |
| market | foreign invest africa stock bond | market | fallen alreadi fdi also like |
| also | bond market fallen alreadi fdi | also | like hit final let us |
| market | home worker face tighten labor | market | remitt expect fall combin impact |
| growth | impact real financi shock africa | growth | sever year forecast region growth |
| growth | growth sever year forecast region | growth | averag percent half past five |
| global | even could optimist given everworsen | global | outlook even worri human cost |
| econom | ill like sick infant mortal | econom | polit challeng face africa clear |
| countri | impact crisi good news african | countri | much stronger posit mani year |
| countri | much stronger posit mani year | countri | especi oil produc built suffici |
| economi | prioriti bad news mani african | economi | need signific addit concession financ |
| need | bad news mani african economi | need | signific addit concession financ weather |
| financ | economi need signific addit concession | financ | weather crisi keep mdgs within |
| financ | requir least billion addit concession | financ | year alon keep foreign reserv |
| global | keep foreign reserv safe level | global | econom financi condit deterior financ |
| econom | foreign reserv safe level global | econom | financi condit deterior financ need |
| financ | global econom financi condit deterior | financ | need signific larger africa develop |
| need | econom financi condit deterior financ | need | signific larger africa develop partner |
| financ | partner must move rapid meet | financ | need cours understand advanc economi |
| need | must move rapid meet financ | need | cours understand advanc economi face |
| economi | financ need cours understand advanc | economi | face unpreced demand budgetari resourc |
| countri | month privat financi institut advanc | countri | receiv financi support entir african |
| also | donor must act meet commit | also | call intern communiti reject protection |
| financ | intern communiti reject protection trade | financ | bring doha round success conclus |
| also | conclus critic import africa must | also | fight back door protection come |
| need | provid african member financi resourc | need | last year move rapid support |
| countri | last year move rapid support | countri | suffer food fuel price shock |
| financ | fuel price shock reach new | financ | agreement african member countri four |
| countri | new financ agreement african member | countri | four increas access exist arrang |
| countri | concession lend resourc urg partner | countri | support addit resourc africa avail |
| also | progress front made near futur | also | want increas flexibl imf financ |
| financ | also want increas flexibl imf | financ | explor better way provid shortterm |
| financ | explor better way provid shortterm | financ | member face immedi financ need |
| financ | shortterm financ member face immedi | financ | need rais access limit becom |
| need | financ member face immedi financ | need | rais access limit becom increas |
| also | limit becom increas bind discuss | also | tri streamlin condit tailor better |
| countri | condit tailor better circumst individu | countri | relat reexamin polici debt limit |
| polici | circumst individu countri relat reexamin | polici | debt limit make flexibl term |
| need | africa effort strengthen technic capac | need | enabl sustain mediumterm growth three |
| growth | capac need enabl sustain mediumterm | growth | three region technic assist center |
| need | must strengthen ownership imf specif | need | implement recent agreement rebalanc quota |
| also | recent agreement rebalanc quota share | also | agre timet next stage quota |
| global | leadership role g taken craft | global | polici respons global financi crisi |
| polici | role g taken craft global | polici | respons global financi crisi howev |
| global | taken craft global polici respons | global | financi crisi howev concern well |
| countri | g still exclud imf member | countri | therefor see confer excel platform |
| countri | see confer excel platform african | countri | convey key messag g leader |
| also | next month confer imf voic | also | want call privat sector civil |
| need | past decad step time great | need | imf look forward idea recommend |
| need | must help africa time great | need | moral duti fellow global citizen |
| global | great need moral duti fellow | global | citizen deepli concern econom social |
| econom | fellow global citizen deepli concern | econom | social cost crisi african also |
| also | econom social cost crisi african | also | histor oblig given coloni histori |
| global | today ultim success effort deal | global | crisi secur africa success longer |
| growth | paid tremend dividend term stabil | growth | beyond african idea innov essenti |
| countri | discuss impact financi crisi lowincom | countri | grate brook host discuss strobe |
| countri | sober messag hit first industri | countri | emerg market third wave global |
| market | hit first industri countri emerg | market | third wave global financi crisi |
| global | countri emerg market third wave | global | financi crisi hit world poorest |
| countri | crisi hit world poorest vulner | countri | hit hard know global economi |
| global | vulner countri hit hard know | global | economi midst deep downturn recent |
| economi | countri hit hard know global | economi | midst deep downturn recent data |
| econom | gloomi forecast januari updat world | econom | outlook probabl optimist expect global |
| global | econom outlook probabl optimist expect | global | recoveri delay even remain depend |
| polici | delay even remain depend right | polici | adopt imf call increas fiscal |
| global | taken bank restructur unfortun delay | global | crisi taken littl longer reach |
| countri | taken littl longer reach lowincom | countri | outlook economi deterior sharpli problem |
| economi | longer reach lowincom countri outlook | economi | deterior sharpli problem exposur toxic |
| global | hold littl rather increas integr | global | economi integr brought mani benefit |
| economi | littl rather increas integr global | economi | integr brought mani benefit countri |
| countri | economi integr brought mani benefit | countri | grow rapid mean lowincom countri |
| countri | countri grow rapid mean lowincom | countri | expos global slowdown recent growth |
| global | rapid mean lowincom countri expos | global | slowdown recent growth forecast countri |
| growth | countri expos global slowdown recent | growth | forecast countri elig concession imf |
| countri | global slowdown recent growth forecast | countri | elig concession imf lend percent |
| global | optimist given serious downsid risk | global | growth case per capita term |
| growth | given serious downsid risk global | growth | case per capita term mani |
| countri | per capita term mani lowincom | countri | may best see incom stagnat |
| countri | contract know main impact lowincom | countri | trade export project declin sharpli |
| also | commod export face hard hit | also | forese mount financ problem develop |
| financ | hard hit also forese mount | financ | problem develop countri outlook foreign |
| countri | forese mount financ problem develop | countri | outlook foreign direct invest develop |
| countri | outlook foreign direct invest develop | countri | bleak forecast percent declin year |
| also | case may avail price remitt | also | like drop reflect much weaker |
| growth | like drop reflect much weaker | growth | advanc emerg economi worker lowincom |
| economi | much weaker growth advanc emerg | economi | worker lowincom countri found employ |
| countri | advanc emerg economi worker lowincom | countri | found employ final worri aid |
| countri | threat reflect budgetari pressur donor | countri | two shock trade financ major |
| financ | donor countri two shock trade | financ | major negat impact extern financ |
| financ | financ major negat impact extern | financ | poorest countri recent declin food |
| countri | negat impact extern financ poorest | countri | recent declin food fuel price |
| countri | food fuel price provid offset | countri | mani other see balanc payment |
| growth | budgetari crisi tax revenu shrink | growth | slow corpor profit fall countri |
| countri | growth slow corpor profit fall | countri | may also face higher debt |
| also | corpor profit fall countri may | also | face higher debt servic currenc |
| countri | larg percentag point gdp averag | countri | impact probabl closer percentag point |
| countri | incom less day unless vulner | countri | financ need met even chill |
| financ | less day unless vulner countri | financ | need met even chill world |
| need | day unless vulner countri financ | need | met even chill world bank |
| countri | serious concern polit stabil affect | countri | econom incom question also social |
| econom | concern polit stabil affect countri | econom | incom question also social question |
| also | affect countri econom incom question | also | social question polit question reason |
| countri | question polit question reason lowincom | countri | need safeguard vital spend health |
| need | polit question reason lowincom countri | need | safeguard vital spend health educ |
| countri | crisi imf tri encourag lowincom | countri | improv target spend social safeti |
| econom | safeti net done avert potenti | econom | humanitarian calam good news alway |
| countri | good news good news lowincom | countri | stronger posit confront crisi macroeconom |
| growth | improv across board last decad | growth | inflat fiscal current account deficit |
| polici | debt lower success reflect prudent | polici | higher aid debt relief includ |
| countri | signific debt relief imf result | countri | scope accommod shock even increas |
| countri | increas spend cushion impact crisi | countri | achiev macroeconom stabil sustain public |
| financ | stabil sustain public debt face | financ | constraint also countri like commod |
| also | public debt face financ constraint | also | countri like commod export built |
| countri | debt face financ constraint also | countri | like commod export built fiscal |
| countri | news bad news mani vulner | countri | much fiscal space deal crisi |
| need | revenu mobil appropri respons crisi | need | signific addit concession financ lowincom |
| financ | crisi need signific addit concession | financ | lowincom countri monetari exchang rate |
| countri | signific addit concession financ lowincom | countri | monetari exchang rate polici allow |
| polici | lowincom countri monetari exchang rate | polici | allow room respond extern shock |
| countri | allow room respond extern shock | countri | inflat well control look opportun |
| polici | control look opportun eas monetari | polici | flexibl exchang rate may allow |
| countri | function shock absorb mani lowincom | countri | inflat still problem reduc interest |
| countri | reduc interest rate could backfir | countri | fix exchanger regim almost twothird |
| countri | exchanger regim almost twothird lowincom | countri | may even less room maneuv |
| financ | maneuv chart balanc payment shock | financ | need analysi identifi develop countri |
| need | chart balanc payment shock financ | need | analysi identifi develop countri face |
| countri | financ need analysi identifi develop | countri | face acut financ constraint keep |
| financ | identifi develop countri face acut | financ | constraint keep extern reserv safe |
| countri | extern reserv safe month import | countri | need least billion addit concession |
| need | reserv safe month import countri | need | least billion addit concession financ |
| financ | need least billion addit concession | financ | billion almost percent annual aid |
| countri | percent annual aid flow receiv | countri | recent year moreov need concession |
| need | receiv countri recent year moreov | need | concession financ could much higher |
| financ | recent year moreov need concession | financ | could much higher global growth |
| global | concession financ could much higher | global | growth financ condit deterior seem |
| growth | financ could much higher global | growth | financ condit deterior seem like |
| financ | could much higher global growth | financ | condit deterior seem like number |
| countri | deterior seem like number vulner | countri | could doubl almost addit concession |
| financ | could doubl almost addit concession | financ | would climb sharpli financ need |
| financ | concession financ would climb sharpli | financ | need substanti urgent therefor want |
| need | financ would climb sharpli financ | need | substanti urgent therefor want use |
| financ | opportun call intern communiti provid | financ | vulner countri need preserv hardwon |
| countri | intern communiti provid financ vulner | countri | need preserv hardwon gain prevent |
| need | communiti provid financ vulner countri | need | preserv hardwon gain prevent humanitarian |
| economi | ensur aid flow scale advanc | economi | billion dollar spent fiscal stimulus |
| countri | must find room help lowincom | countri | need let remind commit donor |
| need | find room help lowincom countri | need | let remind commit donor alreadi |
| countri | away pledg one task push | countri | translat pledg financ advanc countri |
| financ | task push countri translat pledg | financ | advanc countri also oblig avoid |
| countri | countri translat pledg financ advanc | countri | also oblig avoid protection given |
| also | translat pledg financ advanc countri | also | oblig avoid protection given develop |
| countri | oblig avoid protection given develop | countri | grow depend trade protection trade |
| growth | partner would impos signific cost | growth | therefor urg world work toward |
| countri | protection financi sector mani lowincom | countri | larg share bank sector foreignown |
| countri | alreadi start repatri fund home | countri | cours question bilater donor intern |
| also | bilater donor intern organ must | also | play part welcom effort discuss |
| countri | signific step financi assist develop | countri | hit food fuel price shock |
| financ | food fuel price shock new | financ | arrang increas financ exist arrang |
| financ | shock new financ arrang increas | financ | exist arrang concession lend lowincom |
| countri | exist arrang concession lend lowincom | countri | doubl move swift step help |
| countri | doubl move swift step help | countri | affect global crisi expect number |
| global | swift step help countri affect | global | crisi expect number new scaledup |
| countri | new scaledup loan agreement lowincom | countri | member place soon look ahead |
| countri | would make avail billion lowincom | countri | concession support next five year |
| also | concession support next five year | also | want lend lowincom countri flexibl |
| countri | year also want lend lowincom | countri | flexibl tailor need countri work |
| need | lend lowincom countri flexibl tailor | need | countri work toward concret progress |
| countri | lowincom countri flexibl tailor need | countri | work toward concret progress front |
| countri | place washington redoubl effort support | countri | nonfinanc channel work close craft |
| polici | channel work close craft appropri | polici | respons crisi draw experi work |
| countri | respons crisi draw experi work | countri | step technic assist includ open |
| also | new region technic assist center | also | aim bolster role develop countri |
| countri | also aim bolster role develop | countri | ongo polici debat includ speed |
| polici | bolster role develop countri ongo | polici | debat includ speed reform imf |
| countri | idea best confront crisi african | countri | opportun learn success best deal |
| countri | support african nation well lowincom | countri | meet challeng want imf get |
| economi | action natur attent focus advanc | economi | longer take recov longer rest |
| also | longer rest world suffer attent | also | turn right impact crisi emerg |
| economi | turn right impact crisi emerg | economi | third wave crisi hit lowincom |
| countri | third wave crisi hit lowincom | countri | cannot act crisi advanc economi |
| economi | countri cannot act crisi advanc | economi | impact emerg marketsit global crisi |
| global | advanc economi impact emerg marketsit | global | crisi duti ensur vulner countri |
| countri | global crisi duti ensur vulner | countri | vulner peopl countri forgotten time |
| countri | ensur vulner countri vulner peopl | countri | forgotten time world come togeth |
| countri | time provid rapid generous support | countri | need thank |
| need | provid rapid generous support countri | need | thank |
| economi | sinc annapoli pari confer palestinian | economi | suffer major setback particular result |
| polici | institutionbuild reform pursu prudent fiscal | polici | sinc advent prime minist fayyad |
| polici | author maintain strict govern employ | polici | virtual frozen wage rate implement |
| need | substanti retrench recurr spend reduc | need | extern assist recurr budget allow |
| financ | recurr budget allow shift extern | financ | cover public invest need expenditur |
| need | extern financ cover public invest | need | expenditur address gaza warrel damag |
| financ | present supplementari budget due cours | financ | import channel much donor assist |
| financ | maximum transpar account control ministri | financ | line intern best practic implement |
| financ | risk first adequ pledg fill | financ | gap time disburs essenti avoid |
| growth | expenditur arrear second privat sector | growth | invest reconstruct palestinian territori continu |
| need | abil local peopl cover basic | need | cash payment also undermin viabil |
| also | cover basic need cash payment | also | undermin viabil bank close cooper |
| economi | reduc risk enabl recoveri palestinian | economi | part imf staff continu support |
| polici | support palestinian author reform effort | polici | advic technic assist ministri financ |
| financ | polici advic technic assist ministri | financ | palestinian monetari author imf staff |
| also | palestinian monetari author imf staff | also | continu regular report donor macroeconom |
| financ | donor macroeconom fiscal develop public | financ | reform |
| polici | us transpar cornerston success fiscal | polici | produc recent updat guid resourc |
| need | code good practic fiscal transpar | need | resourc rich countri imf work |
| countri | fiscal transpar need resourc rich | countri | imf work close eiti develop |
| polici | imf work close eiti develop | polici | stanc assist countri implement commit |
| countri | eiti develop polici stanc assist | countri | implement commit eiti inde imf |
| countri | new trust fund step assist | countri | natur resourcerel issu said imf |
| also | natur resourcerel issu said imf | also | benefit eiti especi broaden public |
| countri | eiti especi broaden public debat | countri | best manag countri extract resourc |
| countri | public debat countri best manag | countri | extract resourc long term world |
| econom | extract resourc long term world | econom | outlooklet turn subject discuss afternoon |
| economi | help energi secur engag emerg | economi | eiti start allow sketch dire |
| econom | eiti start allow sketch dire | econom | backdrop meet today accord project |
| economi | meet today accord project world | economi | face deep downturn sever financi |
| economi | sinc great depress push advanc | economi | recess accord imf januari forecast |
| economi | accord imf januari forecast output | economi | expect contract percent would first |
| countri | annual contract postwar period group | countri | whole emerg economi also serious |
| economi | period group countri whole emerg | economi | also serious affect growth economi |
| also | group countri whole emerg economi | also | serious affect growth economi still |
| growth | emerg economi also serious affect | growth | economi still project percent mani |
| economi | economi also serious affect growth | economi | still project percent mani face |
| global | mani face difficult adjust weaken | global | econom environ overal global growth |
| econom | face difficult adjust weaken global | econom | environ overal global growth onehalf |
| global | weaken global econom environ overal | global | growth onehalf percent oil price |
| growth | global econom environ overal global | growth | onehalf percent oil price assumpt |
| growth | barrel gradual recov percent compar | growth | percent percent commod price volatilityth |
| econom | price volatilityth link extraordinari financi | econom | crisi commod price volatil first |
| also | affect longterm suppli demand factor | also | cyclic factor moreov commod asset |
| market | cycl exchang rate movement financi | market | develop observ last year dramat |
| econom | implos financi sector drop world | econom | activ domin extrem price volatil |
| countri | sizeabl challeng extract industri produc | countri | volatil complic environ decis made |
| market | import lesson drawn current crisi | market | institut meant regul perform better |
| market | integr account necessari effici function | market | also enhanc predict stabil price |
| also | account necessari effici function market | also | enhanc predict stabil price joint |
| market | enorm help reduc nois oil | market | ensur suppli better inform global |
| global | market ensur suppli better inform | global | suppli demand petroleum product alreadi |
| countri | suppli demand petroleum product alreadi | countri | particip jodi eiti candid countri |
| countri | countri particip jodi eiti candid | countri | five hope eiti countri becom |
| countri | candid countri five hope eiti | countri | becom use transpar sign jodi |
| countri | new cooper relat produc consum | countri | help better balanc suppli demand |
| countri | price remain volatil therefor produc | countri | must take account polici expenditur |
| polici | produc countri must take account | polici | expenditur follow yeartoyear fluctuat commod |
| also | short term volatil commod price | also | countercycl provid use support current |
| countri | support current circumst final import | countri | whose economi heavili depend commod |
| economi | circumst final import countri whose | economi | heavili depend commod extract strive |
| economi | depend commod extract strive diversifi | economi | connect believ general accept principl |
| countri | provid use guid principl resourcerich | countri | turn energi securityth eiti also |
| also | countri turn energi securityth eiti | also | help promot energi secur eiti |
| countri | expand transpar promot help creat | countri | rich natur resourc climat favor |
| countri | resourc compat longterm interest host | countri | engag emerg market economi eiti |
| market | interest host countri engag emerg | market | economi eiti final would like |
| economi | host countri engag emerg market | economi | eiti final would like discuss |
| economi | like discuss approach engag emerg | economi | eiti today global world intern |
| global | engag emerg economi eiti today | global | world intern initi succeed without |
| market | without activ particip larg emerg | market | economi therefor must convinc join |
| economi | activ particip larg emerg market | economi | therefor must convinc join eiti |
| countri | sure compani behav best interest | countri | oper easi convinc mani yet |
| countri | structur modifi distinct support particip | countri | connect welcom norway decis implement |
| countri | decis implement support eiti support | countri | could explain public account transpar |
| also | could becom use tool develop | also | countri includ emerg market countri |
| countri | becom use tool develop also | countri | includ emerg market countri broaden |
| market | develop also countri includ emerg | market | countri broaden deepen eitilet conclud |
| countri | also countri includ emerg market | countri | broaden deepen eitilet conclud thought |
| countri | conclud thought broaden deepen eiti | countri | imf consid rich natur resourc |
| market | resourc current eiti candid emerg | market | miss candid produc sort eiti |
| countri | candid produc sort eiti report | countri | becom candid candid produc report |
| countri | cooper extract compani demand candid | countri | particular capac revenu administr eiti |
| global | crisi dismantl three myth asia | global | crisi defi predict depth reach |
| market | quick develop interconnected financi institut | market | disord global deleverag across multipl |
| global | interconnected financi institut market disord | global | deleverag across multipl market asian |
| market | disord global deleverag across multipl | market | asian economi took comfort epicent |
| economi | deleverag across multipl market asian | economi | took comfort epicent crisi hope |
| polici | look back hard believ main | polici | challeng month ago avoid overh |
| global | inflat lehman collaps last septemb | global | investor dramat reduc exposur region |
| market | result sharp declin asian equiti | market | depreci region exchang rate result |
| market | credit condit becom tighter financi | market | remain volatil demand collaps west |
| growth | product fallen proverbi cliff output | growth | deceler quicklywith japan hong kong |
| growth | experienc biggest quarter declin gdp | growth | sinc asian financi crisi lead |
| global | depict gloom ahead speed feroc | global | financi crisi spread asia caught |
| economi | mani peopl wrong myth emerg | economi | asia decoupl busi cycl advanc |
| economi | asia decoupl busi cycl advanc | economi | rapid expans intraregion trade last |
| global | trade partner diminish mistak realiti | global | demand still repres major factor |
| growth | major factor behind asia export | growth | inde relationship u nonoil import |
| growth | inde relationship u nonoil import | growth | asian intraregion export growth actual |
| growth | import growth asian intraregion export | growth | actual becom stronger time natur |
| global | trade year asia becom integr | global | suppli chain larg fraction trade |
| economi | region actual expos shock advanc | economi | region myth asian economi insul |
| economi | advanc economi region myth asian | economi | insul global financi turmoil asian |
| global | region myth asian economi insul | global | financi turmoil asian financi institut |
| global | turmoil asian financi institut enter | global | financi crisi limit exposur subprimerel |
| market | increas asian particip intern financi | market | led sever channel transmiss global |
| global | market led sever channel transmiss | global | financi turmoil region first foreign |
| market | crisi quit substanti outflow equiti | market | alon emerg asia estim amount |
| global | fund made particular expos process | global | deleverag result shortag dollar fund |
| also | sourc fundingat time domest credit | also | tighten trade credit particular reduc |
| countri | financi turmoil last septembernovemb time | countri | abl draw cushion eas strain |
| countri | overal current situat demonstr even | countri | larg war chest fulli insur |
| econom | insur sudden stop capit inflow | econom | outlook view fund two week |
| econom | ago imf releas updat world | econom | outlook let summar main point |
| global | outlook let summar main point | global | growth project declin sharpli  |
| growth | let summar main point global | growth | project declin sharpli  ½ |
| countri | rate record fact output advanc | countri | contract year first time postwar |
| economi | postwar period activ emerg develop | economi | expect slow sharpli drag fall |
| financ | sharpli drag fall export demand | financ | lower commod price much tighter |
| financ | commod price much tighter extern | financ | constraint given asia pervas linkag |
| global | constraint given asia pervas linkag | global | economi mark growth project region |
| economi | given asia pervas linkag global | economi | mark growth project region signific |
| growth | pervas linkag global economi mark | growth | project region signific averag growth |
| growth | growth project region signific averag | growth | asia like percent twoandon quarter |
| global | point project novemb rapid deterior | global | econom outlook polici respons date |
| econom | project novemb rapid deterior global | econom | outlook polici respons date appear |
| polici | rapid deterior global econom outlook | polici | respons date appear broad adequ |
| need | date appear broad adequ may | need | done quarter ahead monetari polici |
| polici | need done quarter ahead monetari | polici | remain import polici lever countri |
| polici | ahead monetari polici remain import | polici | lever countri even recent round |
| countri | polici remain import polici lever | countri | even recent round interest rate |
| countri | come implement offisc stimulus cours | countri | undertak fiscal stimulus alreadi done |
| countri | great risk creditworthi make import | countri | fiscal room maneuv part less |
| need | credit crunch minim key import | need | ensur suffici tool exist inject |
| countri | engag negoti discuss sever member | countri | deepen crisi requir imf broaden |
| countri | broaden approach introduc new facil | countri | sound polici face temporari shortag |
| polici | introduc new facil countri sound | polici | face temporari shortag liquid owe |
| market | owe restrict access intern capit | market | new lend instrumentcal shortterm liquid |
| financ | fast shortterm access larg amount | financ | member strong fundament track record |
| need | instrument view better respond evolv | need | member countri close let say |
| countri | better respond evolv need member | countri | close let say word somewhat |
| global | word somewhat longerterm issu rais | global | financi crisi wide recogn current |
| need | wide recogn current crisi demonstr | need | better earli warn capabl care |
| economi | capabl care analysi vulner risk | economi | advanc emerg market countri alik |
| market | vulner risk economi advanc emerg | market | countri alik difficult predict postcrisi |
| countri | risk economi advanc emerg market | countri | alik difficult predict postcrisi global |
| global | countri alik difficult predict postcrisi | global | economi fund play key role |
| economi | alik difficult predict postcrisi global | economi | fund play key role intensifi |
| global | bank negara intern communiti state | global | economyw meet grave time world |
| economi | economyw meet grave time world | economi | last week imf releas project |
| global | week imf releas project show | global | growth close zero worst perform |
| growth | imf releas project show global | growth | close zero worst perform lifetim |
| economi | perform lifetim forecast recess advanc | economi | prospect recoveri even depend strong |
| polici | prospect recoveri even depend strong | polici | action psycholog lie behind forecast |
| global | central problem central goal restor | global | level mean govern central bank |
| need | level mean govern central bank | need | act decis investor feel confid |
| need | risk repeat great depress govern | need | act measur clean bank reviv |
| market | measur clean bank reviv hous | market | unit state import part solut |
| need | unit state import part solut | need | urgent longer enough crisi much |
| economi | broader profound effect advanc emerg | economi | consid happen asia everi day |
| global | industri product mirror remark collaps | global | trade industri activ halv asian |
| growth | trade industri activ halv asian | growth | forecast  ½ percent asia |
| economi | Â ½ percent asia open | economi | especi exportdepend therefor vulner ongo |
| countri | state europ even though asian | countri | origin problem feel consequ intens |
| need | feel consequ intens contain crisi | need | coordin global respons saw piecem |
| global | intens contain crisi need coordin | global | respons saw piecem respons enough |
| countri | saw piecem respons enough mean | countri | thing one size fit solut |
| polici | thing one size fit solut | polici | respons take account interconnected nation |
| economi | respons take account interconnected nation | economi | fact decis taken one countri |
| countri | economi fact decis taken one | countri | profound effect other protection clear |
| countri | clear danger let give exampl | countri | tri make govern support bank |
| financ | give prioriti domest borrow detriment | financ | across border hurt emerg economi |
| economi | financ across border hurt emerg | economi | whose growth depend access foreign |
| growth | border hurt emerg economi whose | growth | depend access foreign bank financ |
| financ | growth depend access foreign bank | financ | protection financi market consequ could |
| market | foreign bank financ protection financi | market | consequ could damag danger trade |
| financ | intervent alreadi see sharp fall | financ | emerg market develop leav doubt |
| market | see sharp fall financ emerg | market | develop leav doubt need urgent |
| need | emerg market develop leav doubt | need | urgent action need financi market |
| need | leav doubt need urgent action | need | financi market measur order get |
| market | need urgent action need financi | market | measur order get credit flow |
| need | measur order get credit flow | need | monetari fiscal polici measur offset |
| polici | credit flow need monetari fiscal | polici | measur offset abrupt fall privat |
| need | offset abrupt fall privat demand | need | liquid support emerg market countri |
| market | demand need liquid support emerg | market | countri reduc risk growth countri |
| countri | need liquid support emerg market | countri | reduc risk growth countri grind |
| growth | emerg market countri reduc risk | growth | countri grind halt key financ |
| countri | market countri reduc risk growth | countri | grind halt key financ need |
| financ | growth countri grind halt key | financ | need met let take issu |
| need | countri grind halt key financ | need | met let take issu turn |
| global | financi marketsfinanci stabil essenti recoveri | global | economi polici maker alreadi act |
| economi | marketsfinanci stabil essenti recoveri global | economi | polici maker alreadi act address |
| polici | stabil essenti recoveri global economi | polici | maker alreadi act address immedi |
| also | system stabil massiv liquid support | also | extend deposit insur guarante someth |
| also | confid past loss proper recogn | also | concern new loss extend well |
| economi | extend well beyond real estat | economi | turn task govern therefor push |
| need | various institut restructur requir author | need | readi respond need includ fullfledg |
| need | requir author need readi respond | need | includ fullfledg intervent provid public |
| countri | western europ learn previous experi | countri | like korea malaysia thailand also |
| also | countri like korea malaysia thailand | also | sweden set agenc often recov |
| growth | measur take time restor credit | growth | also expens govern know well |
| also | take time restor credit growth | also | expens govern know well cost |
| growth | given damag feedback loop weaker | growth | financi stress restor aggreg demand |
| also | financi stress restor aggreg demand | also | need support monetari especi fiscal |
| need | stress restor aggreg demand also | need | support monetari especi fiscal polici |
| polici | need support monetari especi fiscal | polici | realli impress speed determin central |
| polici | monetari author singapor eas monetari | polici | earli crisi reserv bank india |
| polici | risk crisi act decis monetari | polici | enough offset disrupt financi market |
| market | polici enough offset disrupt financi | market | sever downturn year sinc spoke |
| global | fund advoc fiscal stimulus restor | global | growth broad consensus cours everi |
| growth | advoc fiscal stimulus restor global | growth | broad consensus cours everi countri |
| countri | growth broad consensus cours everi | countri | undertak fiscal stimulus countri emerg |
| countri | everi countri undertak fiscal stimulus | countri | emerg advanc economi cannot financ |
| economi | fiscal stimulus countri emerg advanc | economi | cannot financ higher deficit without |
| financ | countri emerg advanc economi cannot | financ | higher deficit without great risk |
| need | deficit without great risk creditworthi | need | contract budget rather expand fact |
| economi | rather expand fact advanc emerg | economi | cannot engag fiscal stimulus make |
| countri | engag fiscal stimulus make import | countri | part fiscal stimulus one way |
| also | point room fiscal stimulus could | also | rebal demand toward privat consumpt |
| need | especi social insur pension citizen | need | high precautionari save allow greater |
| also | flexibl currenc appreci time would | also | help china could support domest |
| countri | china would mean export asian | countri | support crisishit countriesal countri affect |
| countri | asian countri support crisishit countriesal | countri | affect current crisi affect much |
| financ | much other especi cutoff new | financ | reduc demand export current crisi |
| countri | belarus increas support mani lowincom | countri | readi conscious worst effect crisi |
| economi | conscious worst effect crisi emerg | economi | includ asian countri probabl still |
| countri | crisi emerg economi includ asian | countri | probabl still come cut export |
| countri | capit flow talk earlier feed | countri | economi fund need readi two |
| economi | flow talk earlier feed countri | economi | fund need readi two way |
| need | earlier feed countri economi fund | need | readi two way first need |
| need | need readi two way first | need | enough resourc novemb last year |
| need | crisi get wors world go | need | suppli much liquid affect countri |
| countri | need suppli much liquid affect | countri | japan alreadi offer add billion |
| need | offer add billion resourc fund | need | countri follow generous exampl provid |
| countri | add billion resourc fund need | countri | follow generous exampl provid fund |
| global | fund mean address challeng aris | global | crisi second fund need adapt |
| need | aris global crisi second fund | need | adapt differ circumst countri face |
| countri | fund need adapt differ circumst | countri | face exampl asia acknowledg get |
| countri | past sens stigma seem attach | countri | come fund support one way |
| polici | one like asean includ cofinanc | polici | avoid futur crisisbefor close let |
| global | say word chang might see | global | econom financi govern wide recogn |
| econom | word chang might see global | econom | financi govern wide recogn financi |
| market | financi govern wide recogn financi | market | regul chang given global financi |
| global | financi market regul chang given | global | financi market also need greater |
| market | regul chang given global financi | market | also need greater intern coordin |
| also | chang given global financi market | also | need greater intern coordin countri |
| need | given global financi market also | need | greater intern coordin countri especi |
| countri | also need greater intern coordin | countri | especi grow financi center must |
| market | assess linkag financi sector financi | market | rule macroeconom outcom perspect critic |
| polici | way domest let alon collect | polici | respons need less fragment point |
| need | let alon collect polici respons | need | less fragment point earli warn |
| market | made clear risk confin emerg | market | look sourc system risk advanc |
| market | sourc system risk advanc emerg | market | countri alik requir better financi |
| countri | system risk advanc emerg market | countri | alik requir better financi macroeconom |
| countri | better financi macroeconom oversight advanc | countri | stronger respons asset price surg |
| polici | warn given crisi almost intern | polici | coordin crisi initi polici respons |
| polici | intern polici coordin crisi initi | polici | respons far collabor let alon |
| countri | collabor let alon coordin exampl | countri | rush protect bank guarante risk |
| countri | run less protect system neighbor | countri | liquid provis most direct domest |
| need | most direct domest financi institut | need | central bodi assum leadership respons |
| global | assum leadership respons system risk | global | economi g begin play role |
| economi | leadership respons system risk global | economi | g begin play role repres |
| countri | g begin play role repres | countri | imf play role think first |
| need | play role think first would | need | address deficit ownership effici specif |
| need | address deficit ownership effici specif | need | implement recent agreement rebalanc quota |
| also | recent agreement rebalanc quota share | also | agre timet next stage quota |
| market | caus current crisi opac financi | market | greed banker complac regul polici |
| polici | market greed banker complac regul | polici | maker talk institut chang might |
| need | futur crise less like first | need | get present danger take clear |
| countri | strength year seacen exampl cooper | countri | let end say pleas today |
| countri | today ethiopia one oldest independ | countri | world au summit take place |
| economi | take place critic junctur world | economi | last sever month economist policymak |
| global | economist policymak come recogn serious | global | financi crisi headlin domin impact |
| economi | headlin domin impact crisi advanc | economi | emerg market crisi also pose |
| market | impact crisi advanc economi emerg | market | crisi also pose sever challeng |
| also | advanc economi emerg market crisi | also | pose sever challeng african countri |
| countri | also pose sever challeng african | countri | intern communiti must ignor remark |
| global | four key messag financi crisi | global | growthfirst expect world growth come |
| growth | crisi global growthfirst expect world | growth | come virtual halt requir decis |
| global | come virtual halt requir decis | global | polici respons world growth expect |
| polici | virtual halt requir decis global | polici | respons world growth expect declin |
| growth | decis global polici respons world | growth | expect declin lowest rate year |
| polici | lowest rate year despit widerang | polici | action govern central bank around |
| economi | strain remain acut pull real | economi | expect return growth assum strong |
| growth | pull real economi expect return | growth | assum strong polici stimul recoveri |
| polici | expect return growth assum strong | polici | stimul recoveri risk outlook remain |
| economi | risk outlook remain downsid advanc | economi | suffer deepest recess sinc world |
| market | world war ii major emerg | market | economi china india brazil expect |
| economi | war ii major emerg market | economi | china india brazil expect experi |
| growth | brazil expect experi much lower | growth | recent year drag fall export |
| global | crisi affect africami second messag | global | financi crisi spare africa weaker |
| economi | system bank sector crisi advanc | economi | africa contin hard hit effect |
| global | hard hit effect ensu slowdown | global | econom growth sever channel effect |
| econom | hit effect ensu slowdown global | econom | growth sever channel effect crisi |
| growth | effect ensu slowdown global econom | growth | sever channel effect crisi transmit |
| economi | sever channel effect crisi transmit | economi | harsh realiti lower global growth |
| global | transmit economi harsh realiti lower | global | growth reduc demand african export |
| growth | economi harsh realiti lower global | growth | reduc demand african export push |
| global | curtail flow remitt abroad tighten | global | credit reduc capit inflow curtail |
| financ | capit inflow curtail avail trade | financ | could eventu caus donor reduc |
| econom | caus donor reduc aid africa | econom | slowdown affect qualiti credit portfolio |
| countri | therebi worsen fiscal posit mani | countri | fewer resourc would mean african |
| global | poverti invest infrastructur expect pronounc | global | downturn weaker commod price pressur |
| growth | price pressur capit flow expect | growth | subsaharan africa slow  ¼ |
| global | four month ago signific uncertainti | global | level risk growth remain tilt |
| growth | signific uncertainti global level risk | growth | remain tilt downsid see major |
| polici | percent gdp  ¾ percent | polici | challeng africath third messag crisi |
| countri | durat circumst differ much across | countri | singl recip prioriti countri region |
| countri | across countri singl recip prioriti | countri | region must protect hardwon improv |
| econom | region must protect hardwon improv | econom | fundament sustain debt level lower |
| growth | reformsthat enabl first period sustain | growth | region decad would like suggest |
| econom | like suggest key principl guid | econom | polici difficult time use fiscal |
| polici | suggest key principl guid econom | polici | difficult time use fiscal space |
| countri | judici fiscal respons tailor specif | countri | circumst may scope fiscal stimulus |
| countri | circumst may scope fiscal stimulus | countri | mani countri option may avail |
| countri | scope fiscal stimulus countri mani | countri | option may avail due alreadi |
| countri | posit concern regard fiscal sustain | countri | may even need fiscal consolid |
| need | fiscal sustain countri may even | need | fiscal consolid case spend plan |
| growth | let exchang rate help rebal | growth | possibl countri term trade deterior |
| countri | rate help rebal growth possibl | countri | term trade deterior real exchang |
| countri | rate depreci preserv macroeconom stabil | countri | exchang rate flexibl let nomin |
| polici | rate depreci keep fiscal monetari | polici | suffici tight avoid devaluationinfl spiral |
| economi | put even higher premium keep | economi | stabl also import make everi |
| also | higher premium keep economi stabl | also | import make everi effort move |
| need | opportun foster domest consensus urgent | need | reform fund role africa crisismi |
| countri | part increas financi support lowincom | countri | face last year food fuel |
| also | food fuel price crisi septemb | also | modifi financ facil provid rapid |
| financ | price crisi septemb also modifi | financ | facil provid rapid assist countri |
| countri | financ facil provid rapid assist | countri | hit exogen shock sinc sever |
| countri | exogen shock sinc sever develop | countri | access facil recent exampl ethiopia |
| countri | food fuel price help african | countri | strengthen capac meet current futur |
| also | capac meet current futur challeng | also | expand technic assist establish two |
| countri | africa embark ambiti program help | countri | develop mediumterm debt manag strategi |
| also | mediumterm debt manag strategi imf | also | play part encourag donor live |
| polici | commit contin come month intensifi | polici | dialogu african member countri one |
| countri | intensifi polici dialogu african member | countri | one import initi confer cohost |
| polici | march th th bring togeth | polici | maker privat sector civil societi |
| polici | success africa past decad discuss | polici | ensur current global econom turmoil |
| global | decad discuss polici ensur current | global | econom turmoil jeopard success special |
| econom | discuss polici ensur current global | econom | turmoil jeopard success special session |
| financ | session dedic fund engag africa | financ | minist engag manag director issu |
| countri | perspect confirm continu valid principl | countri | decis transfer nation sovereignti conduct |
| econom | decis transfer nation sovereignti conduct | econom | financi polici inde longterm interest |
| polici | nation sovereignti conduct econom financi | polici | inde longterm interest lawyer work |
| also | respect first intend cover issu | also | particular relev eu member yet |
| also | euro second histor perspect essenti | also | identifi sever issu current interest |
| polici | respect conduct exchang rate monetari | polici | import impact member exercis right |
| also | fund best known financi institut | also | regulatori institut overse member oblig |
| polici | member latitud conduct exchang rate | polici | latitud unlimit howev member current |
| polici | overal system exchang rate pursu | polici | promot extern stabil import polici |
| polici | polici promot extern stabil import | polici | examin fund purpos includ exchang |
| polici | fund purpos includ exchang rate | polici | also domest polici may effect |
| also | purpos includ exchang rate polici | also | domest polici may effect member |
| polici | exchang rate polici also domest | polici | may effect member exchang rate |
| polici | particular monetari fiscal financi sector | polici | appli approach monetari union specif |
| polici | perform oblig relat exchang rate | polici | monetari polici consist general principl |
| polici | relat exchang rate polici monetari | polici | consist general principl oblig oblig |
| polici | euro member exchang rate monetari | polici | involv discuss relev european institut |
| polici | bank ecb contrast surveil domest | polici | larg continu within compet individu |
| need | reform acceler ongo crisi emphas | need | greater joint respons account secur |
| need | fund welcom recognit eu reform | need | area particular look forward outcom |
| global | term refer obvious mismatch european | global | financi market supervis remain larg |
| market | obvious mismatch european global financi | market | supervis remain larg nation context |
| econom | equit balanc criteria take account | econom | impact crisi countri affect essenc |
| countri | take account econom impact crisi | countri | affect essenc need system assur |
| need | impact crisi countri affect essenc | need | system assur principl effect appli |
| also | overview fund role financi institut | also | evolv year origin assist design |
| growth | help member adher oblig steadi | growth | capit market collaps bretton wood |
| market | adher oblig steadi growth capit | market | collaps bretton wood system exchang |
| financ | wood system exchang rate fund | financ | role chang growth privat capit |
| growth | rate fund financ role chang | growth | privat capit flow emerg market |
| market | growth privat capit flow emerg | market | general benefici growth period generat |
| growth | flow emerg market general benefici | growth | period generat period instabl economi |
| economi | growth period generat period instabl | economi | borrow repay sudden loss market |
| market | economi borrow repay sudden loss | market | confid provid financi support support |
| market | adjust program fund facilit return | market | confid fund provid financi assist |
| financ | short matur period establish fund | financ | normal three five year mean |
| econom | upon evid member implement appropri | econom | adjust program program fund normal |
| need | member design import emphas magnitud | need | face member normal far outstrip |
| financ | member normal far outstrip amount | financ | fund provid howev fact fund |
| polici | fund made judgment member adjust | polici | merit fund financi support intend |
| financ | seen fund provid larg amount | financ | two eu member hungari latvia |
| countri | framework point help ec treati | countri | yet adopt euro suffer balanc |
| countri | case latvia hungari quick recogn | countri | eu eu financi assist would |
| need | eu eu financi assist would | need | supplement resourc fund part magnitud |
| financ | supplement resourc fund part magnitud | financ | need fund posit move rapid |
| need | resourc fund part magnitud financ | need | fund posit move rapid eu |
| financ | close cooper eu fund respect | financ | consider burden share case hungari |
| polici | overal design adjust program monitor | polici | implement coordin new fund eu |
| countri | still balanc payment visà vi | countri | includ currenc union member second |
| need | union member second balanc payment | need | exist member overal balanc payment |
| financ | payment deficit occur member difficulti | financ | intern debt oblig even oblig |
| countri | consid context fund govern framework | countri | becom member fund receiv quota |
| economi | quota determin relat size member | economi | world economi member quota import |
| economi | relat size member economi world | economi | member quota import key relationship |
| countri | first constraint membership avail individu | countri | unlik wto agreement fund articl |
| countri | would possibl fund determin emu | countri | within mean articl determin would |
| countri | status euro area member independ | countri | intern law second would possibl |
| econom | made number differ level europ | econom | financi committe creat eu treati |
| polici | close clear execut board discuss | polici | compet transfer eu institut eu |
| polici | strongest exampl discuss exchang rate | polici | euro area singl written statement |
| also | eurimf repres euro member ecb | also | make statement board meet area |
| also | coordin increas respect countryspecif matter | also | regard general polici issu confront |
| polici | countryspecif matter also regard general | polici | issu confront fund experi demonstr |
| countri | regard surveil provis financi assist | countri | outsid eu differ geopolit prioriti |
| countri | africa stress import fund engag | countri | other emphas fact fund monetari |
| also | framework coordin member wish would | also | emphas exist constraint may perman |
| global | support amend conclud current upheav | global | economi place stress actor offici |
| economi | amend conclud current upheav global | economi | place stress actor offici sector |
| also | supervisori framework crossbord financi institut | also | generat closer cooper fund eu |
| also | ongo reform initi eu fund | also | result signific consolid eu represent |
| market | set discuss current situat financi | market | global economi attempt improv financi |
| global | discuss current situat financi market | global | economi attempt improv financi market |
| economi | current situat financi market global | economi | attempt improv financi market economi |
| market | global economi attempt improv financi | market | economi undoubt would benefit light |
| economi | economi attempt improv financi market | economi | undoubt would benefit light heat |
| global | imf princip task help reduc | global | economi system instabl promot effect |
| economi | princip task help reduc global | economi | system instabl promot effect countercycl |
| polici | system instabl promot effect countercycl | polici | action word fund mandat member |
| countri | fund mandat member today total | countri | play structur cyclic better put |
| also | cyclic better put countercycl role | also | believ role fit neat inevit |
| global | inevit emerg consensus govern postcrisi | global | economi financi market discuss fund |
| economi | emerg consensus govern postcrisi global | economi | financi market discuss fund role |
| market | govern postcrisi global economi financi | market | discuss fund role govern implic |
| polici | prospect princip messag addit vigor | polici | action need order avoid serious |
| need | messag addit vigor polici action | need | order avoid serious global downturn |
| global | action need order avoid serious | global | downturn offici concentr effort achiev |
| economi | outcom emerg substanti output gap | economi | around world would leav legaci |
| need | lost opportun sacrif wellb measur | need | avoid encompass renew effort stabil |
| global | budget measur support final demand | global | financi market appear step back |
| market | support final demand global financi | market | appear step back brink respons |
| polici | step back brink respons aggress | polici | support measur nonetheless danger renew |
| market | renew deterior remain high sever | market | fund liquid market still sever |
| market | high sever market fund liquid | market | still sever strain negat develop |
| market | deep shock undermin confid financi | market | counterparti persist concern futur loss |
| need | persist concern futur loss fund | need | larg loss bank institut capit |
| market | bank institut capit thus financi | market | deleverag still underway underpin base |
| growth | expect substanti sustain slowdown credit | growth | come year moreov financi stress |
| market | moreov financi stress spread emerg | market | equiti market downturn equal outstrip |
| market | stress spread emerg market equiti | market | downturn equal outstrip advanc economi |
| economi | market downturn equal outstrip advanc | economi | market outflow debt market threaten |
| market | downturn equal outstrip advanc economi | market | outflow debt market threaten revers |
| market | advanc economi market outflow debt | market | threaten revers structur progress one |
| market | progress one strike recent financi | market | develop background weak financi market |
| market | market develop background weak financi | market | last month revis lower forecast |
| global | last month revis lower forecast | global | growth base current polici global |
| growth | month revis lower forecast global | growth | base current polici global econom |
| polici | forecast global growth base current | polici | global econom growth project deceler |
| global | global growth base current polici | global | econom growth project deceler last |
| econom | growth base current polici global | econom | growth project deceler last year |
| growth | base current polici global econom | growth | project deceler last year also |
| also | growth project deceler last year | also | scale back project recoveri believ |
| growth | second half seem like reduc | growth | forecast notabl upcom januari updat |
| econom | notabl upcom januari updat world | econom | outlook fund role current crisisth |
| economi | deal crise advanc emerg develop | economi | provid import lesson polici like |
| polici | develop economi provid import lesson | polici | like success revers econom downturn |
| econom | lesson polici like success revers | econom | downturn particular effect polici measur |
| polici | revers econom downturn particular effect | polici | measur need restor financi market |
| need | downturn particular effect polici measur | need | restor financi market support demand |
| market | polici measur need restor financi | market | support demand howev evid recent |
| polici | measur tripl standard howev virtual | polici | initi implement thus far underpin |
| market | implement thus far underpin financi | market | function tend partial rather comprehens |
| growth | thus surpris sharp slowdown credit | growth | abroad show sign abat redoubl |
| global | creat substanti damag financi system | global | economi global economi face major |
| economi | substanti damag financi system global | economi | global economi face major challeng |
| global | damag financi system global economi | global | economi face major challeng doubt |
| economi | financi system global economi global | economi | face major challeng doubt need |
| need | economi face major challeng doubt | need | monetari fiscal measur support demand |
| polici | pressur current retreat aggress monetari | polici | measur kind saw yesterday washington |
| economi | feder reserv justifi mani key | economi | howev fund experi shown fiscal |
| polici | impair credit channel make monetari | polici | measur less effect sharp rise |
| need | save current circumst research suggest | need | fiscal stimulus larg specif recommend |
| global | specif recommend measur total percent | global | gdp also recommend fiscal measur |
| also | measur total percent global gdp | also | recommend fiscal measur diversifi includ |
| also | serious downturn like durat howev | also | emphas individu countri circumst includ |
| countri | durat howev also emphas individu | countri | circumst includ budget balanc debt |
| global | fund tough timesth sustain turmoil | global | financi market past month reveal |
| market | timesth sustain turmoil global financi | market | past month reveal degre current |
| econom | past month reveal degre current | econom | financi system contain power element |
| polici | procycl promot multilater cooper set | polici | cours direct keep origin aim |
| global | cannot taken grant even age | global | inde serious econom financi strain |
| econom | even age global inde serious | econom | financi strain appear surpris pressur |
| market | last septemberoctob sudden emerg heighten | market | volatil follow spectacular collaps sever |
| countri | reflect under stress author mani | countri | also fear deposit capit would |
| also | under stress author mani countri | also | fear deposit capit would flow |
| polici | midoctob imf annual meet broad | polici | collabor must remain high prioriti |
| countri | key trade partner doesn mean | countri | author tri thing time rather |
| market | recent step financi support emerg | market | member capit flow economi revers |
| economi | emerg market member capit flow | economi | revers novemb alon approv loan |
| countri | engag negoti discuss sever member | countri | moreov fund program lend case |
| also | magnifi fund program posit impact | also | monitor close impact crisi lowincom |
| countri | close impact crisi lowincom member | countri | provid addit financi assist mani |
| growth | augment preexist arrang poverti reduct | growth | facil prgf also modifi exogen |
| also | poverti reduct growth facil prgf | also | modifi exogen shock facil esf |
| need | order make respons lowincom member | need | fund financ help amelior cyclic |
| financ | respons lowincom member need fund | financ | help amelior cyclic forc bear |
| economi | help amelior cyclic forc bear | economi | allow higher degre consumpt incom |
| also | possibl mani case fundsupport program | also | incorpor explicit provis design protect |
| market | lowincom individu famili everi emerg | market | economi afflict current crisi restrict |
| economi | individu famili everi emerg market | economi | afflict current crisi restrict access |
| market | crisi restrict access intern capit | market | suffer under problem public financ |
| financ | market suffer under problem public | financ | structur weak bank system rather |
| need | liquid reflect problem elsewher meet | need | member fund recent introduc new |
| financ | provid highspe access larg amount | financ | member strong fundament track record |
| countri | carri expost condit intend help | countri | need polici adjust underpin tradit |
| need | expost condit intend help countri | need | polici adjust underpin tradit imf |
| polici | condit intend help countri need | polici | adjust underpin tradit imf standbi |
| econom | member slf repres mark substanti | econom | polici success rather bear stigma |
| polici | slf repres mark substanti econom | polici | success rather bear stigma often |
| countri | institut act quick aid member | countri | need financi support polici adjust |
| need | act quick aid member countri | need | financi support polici adjust program |
| polici | member countri need financi support | polici | adjust program moreov condit accompani |
| also | program intend safeguard imf resourc | also | boost credibl polici program intern |
| polici | imf resourc also boost credibl | polici | program intern extern entiti focus |
| polici | extern entiti focus narrowli appropri | polici | necessari program achiev broad macroeconom |
| economi | damag financi institut sector advanc | economi | dwarf previous experi thus come |
| economi | come surpris true emerg develop | economi | general open economi develop financi |
| economi | emerg develop economi general open | economi | develop financi system financi demand |
| global | factor mind crisi still spread | global | financi system issu rais whether |
| economi | recent stabil measur taken advanc | economi | plausibl scenario virul financi sector |
| global | sector deleverag come inde measur | global | capit flow imf remain lend |
| need | financi resourc well advanc prospect | need | moreov advanc countri govern central |
| countri | advanc prospect need moreov advanc | countri | govern central bank region pool |
| also | addit liquid case done alreadi | also | possibl potenti fund sourc act |
| need | financi support program messag clear | need | ensur adequ fund avail deal |
| global | crisi earli look forward postcrisi | global | economi goal rid current system |
| economi | earli look forward postcrisi global | economi | goal rid current system element |
| market | gap lack inform call lack | market | transpar demonstr clear anyth clear |
| market | potenti crise third gap incomplet | market | context miss market may make |
| market | gap incomplet market context miss | market | may make imposs buy insur |
| market | make imposs buy insur specif | market | risk wide acknowledg incomplet market |
| market | market risk wide acknowledg incomplet | market | increas volatil heighten risk seek |
| need | postcrisi world current crisi demonstr | need | better earli warn capabl mean |
| market | work area redoubl analysi financi | market | macrofinanci linkag spillov across countri |
| countri | market macrofinanci linkag spillov across | countri | aim strengthen earli warn system |
| polici | encourag earli adopt prevent compens | polici | respons either macroeconom regulatori area |
| econom | regul exclus institut instrument exclud | econom | circumst set prudenti standard look |
| need | challeng past year underscor clear | need | effect global cooper conduct countercycl |
| global | year underscor clear need effect | global | cooper conduct countercycl polici promot |
| polici | effect global cooper conduct countercycl | polici | promot macroeconom stabil advanc effect |
| global | time exampl effort reduc risk | global | econom growth stabil associ emerg |
| econom | exampl effort reduc risk global | econom | growth stabil associ emerg record |
| growth | effort reduc risk global econom | growth | stabil associ emerg record global |
| global | growth stabil associ emerg record | global | current account imbal earlier decad |
| global | unit state innov multilater consult | global | imbal process produc set voluntari |
| polici | imbal process produc set voluntari | polici | program deem particip individu interest |
| also | program deem particip individu interest | also | support overrid mutual goal sustain |
| global | support overrid mutual goal sustain | global | growth reduc pressur associ global |
| growth | overrid mutual goal sustain global | growth | reduc pressur associ global payment |
| global | global growth reduc pressur associ | global | payment imbal unfortun mani case |
| polici | imbal unfortun mani case propos | polici | program implement requisit sens urgenc |
| countri | among limit group relev member | countri | studyact topic special import model |
| global | govern intern financi systemultim work | global | economi would strengthen mechan could |
| economi | intern financi systemultim work global | economi | would strengthen mechan could help |
| need | action imf principl institut structur | need | provid mechan virtual univers membership |
| countri | time chang relat weight differ | countri | world economi fund govern structur |
| economi | relat weight differ countri world | economi | fund govern structur today consist |
| also | repres governor chair manag director | also | head staff although fund shown |
| financ | emin person chair south african | financ | minist manuel group examin mani |
| also | entir fund membership therefor would | also | decis rule via vote share |
| polici | produc action plan includ specif | polici | deliver half report back leader |
| global | view broad power symbol denot | global | communiti increas requir cooper overarch |
| econom | overarch ministeriallevel bodi deal broad | econom | financi issu includ key emerg |
| market | financi issu includ key emerg | market | economi well advanc economi exist |
| economi | issu includ key emerg market | economi | well advanc economi exist clear |
| economi | emerg market economi well advanc | economi | exist clear perceiv need group |
| need | advanc economi exist clear perceiv | need | group help set broad polici |
| polici | need group help set broad | polici | agenda deal current crisi give |
| global | agenda deal current crisi give | global | system stronger foundat still earli |
| financ | obvious strike similar membership g | financ | minist imfc thus potenti council |
| global | event defin govern structur postcrisi | global | economi watch thank attent much |
| economi | defin govern structur postcrisi global | economi | watch thank attent much look |
| econom | chaotic time inde fund born | econom | polit chao period war fail |
| global | war fail attempt impos order | global | economi great depress follow failur |
| economi | fail attempt impos order global | economi | great depress follow failur world |
| global | fund reflect articl agreement promot | global | financi stabil help member adjust |
| global | tri manag anoth chaotic period | global | economi question global economi differ |
| economi | manag anoth chaotic period global | economi | question global economi differ view |
| global | chaotic period global economi question | global | economi differ view answer twofold |
| economi | period global economi question global | economi | differ view answer twofold first |
| global | period decis taken determin futur | global | economi fund year come therefor |
| economi | decis taken determin futur global | economi | fund year come therefor use |
| polici | use part speech set fund | polici | advic next sever month second |
| global | ahead design financi architectur make | global | economi calmer less prone econom |
| economi | design financi architectur make global | economi | calmer less prone econom financi |
| econom | global economi calmer less prone | econom | financi instabl make suggest fund |
| global | prioriti next month fund member | global | outlook continu deterior difficult year |
| global | outlook continu deterior difficult year | global | economi see recoveri begin earliest |
| economi | continu deterior difficult year global | economi | see recoveri begin earliest prevent |
| global | see recoveri begin earliest prevent | global | depress need action three area |
| need | begin earliest prevent global depress | need | action three area need financi |
| need | depress need action three area | need | financi market measur order get |
| market | action three area need financi | market | measur order get credit flow |
| need | measur order get credit flow | need | fiscal measur offset abrupt fall |
| need | offset abrupt fall privat demand | need | liquid support emerg market countri |
| market | demand need liquid support emerg | market | countri reduc advers effect widespread |
| countri | need liquid support emerg market | countri | reduc advers effect widespread capit |
| need | implement action taken far enough | need | fund central role help govern |
| global | govern three area monitor risk | global | level provid time technic advic |
| market | provid time technic advic financi | market | issu deploy expertis experi fiscal |
| financ | expertis experi fiscal issu help | financ | ministri find best way calibr |
| economi | implement fiscal stimulus help emerg | economi | design good econom program provid |
| econom | help emerg economi design good | econom | program provid suffici financ support |
| financ | good econom program provid suffici | financ | support condit tailor goal contain |
| need | financi marketsto restor confid stabil | need | govern intervent financi market clear |
| market | stabil need govern intervent financi | market | clear comprehens cooper countri govern |
| countri | financi market clear comprehens cooper | countri | govern action need clear object |
| need | comprehens cooper countri govern action | need | clear object effect oversight public |
| need | polit risk moment nation plan | need | also comprehens must contain guarante |
| also | risk moment nation plan need | also | comprehens must contain guarante depositor |
| market | depositor assur creditor suffici ensur | market | function provid liquid support bank |
| global | loss recognit key action coordin | global | level region level appropri somewhat |
| global | consum demand often fund solut | global | econom problem most fiscal twist |
| econom | demand often fund solut global | econom | problem most fiscal twist fiscal |
| need | twist fiscal expans fiscal contract | need | advoc fund soon last januari |
| global | davo fiscal stimulus essenti restor | global | growth three key question much |
| growth | fiscal stimulus essenti restor global | growth | three key question much stimulus |
| polici | paper set detail propos fiscal | polici | strategi crisi let give quick |
| countri | overview fiscal stimulus undertaken wide | countri | need consid circumst trade relat |
| need | fiscal stimulus undertaken wide countri | need | consid circumst trade relat countri |
| countri | need consid circumst trade relat | countri | engag stimulus smaller action individu |
| countri | engag stimulus smaller action individu | countri | need cours polit easier countri |
| need | stimulus smaller action individu countri | need | cours polit easier countri act |
| countri | countri need cours polit easier | countri | act togeth act alon also |
| also | countri act togeth act alon | also | import countri stimul everi countri |
| countri | togeth act alon also import | countri | stimul everi countri emerg market |
| countri | also import countri stimul everi | countri | emerg market countri financ constraint |
| market | countri stimul everi countri emerg | market | countri financ constraint either high |
| countri | stimul everi countri emerg market | countri | financ constraint either high cost |
| financ | everi countri emerg market countri | financ | constraint either high cost inabl |
| financ | constraint either high cost inabl | financ | deficit mean need contract budget |
| need | cost inabl financ deficit mean | need | contract budget rather expand other |
| global | call fiscal retrench despit call | global | fiscal stimulus fiscal room maneuv |
| countri | stimulus fiscal room maneuv program | countri | would say use often room |
| countri | maneuv fact absenc fund support | countri | would contract even financ tight |
| financ | support countri would contract even | financ | tight fact countri includ advanc |
| countri | contract even financ tight fact | countri | includ advanc economi well emerg |
| economi | tight fact countri includ advanc | economi | well emerg economi cannot engag |
| economi | includ advanc economi well emerg | economi | cannot engag fiscal stimulus make |
| economi | fiscal stimulus make import advanc | economi | larg emerg economi part countri |
| economi | import advanc economi larg emerg | economi | part countri alreadi act world |
| countri | economi larg emerg economi part | countri | alreadi act world need lead |
| need | part countri alreadi act world | need | lead second question much fiscal |
| need | profound chang greater fiscal effort | need | offset restor confid face unpreced |
| polici | substanti uncertainti limit effect fiscal | polici | measur anticip negat growth effect |
| growth | fiscal polici measur anticip negat | growth | effect last time reason call |
| global | longer one two quarter think | global | fiscal stimulus percent world gdp |
| global | dollar may make sizabl differ | global | growth prospect substanti reduc risk |
| growth | may make sizabl differ global | growth | prospect substanti reduc risk damag |
| global | prospect substanti reduc risk damag | global | recess percent averag countri anyth |
| countri | damag global recess percent averag | countri | anyth other fiscal stimulus done |
| financ | help troubl sector like hous | financ | may disproportion larg effect break |
| need | expans inkind benefit cover basic | need | food sinc slowdown expect long |
| polici | period mani measur becom appropri | polici | tool current circumst therefor invest |
| growth | like posit effect expect futur | growth | like presidentelect obama manhattan project |
| also | person incom sale tax could | also | envisag would recommend reduct corpor |
| need | ineffect difficult revers present urgent | need | strong foot acceler fiscal spend |
| economi | good brake import even advanc | economi | need keep eye fiscal sustain |
| need | brake import even advanc economi | need | keep eye fiscal sustain guard |
| market | guard risk advers reaction financi | market | like immedi problem seen market |
| market | market like immedi problem seen | market | react late abrupt perceiv shift |
| market | shift creditworthi fiscal path perturb | market | one day may frighten next |
| countri | unit state must admit worri | countri | announc big thing reluct couldn |
| need | magnitud crisi even speech acknowledg | need | big program like countri eu |
| countri | acknowledg need big program like | countri | eu implement seem far announc |
| need | lot downsid risk forecast materi | need | correct polici especi fiscal polici |
| polici | risk forecast materi need correct | polici | especi fiscal polici implement see |
| polici | need correct polici especi fiscal | polici | implement see case right third |
| countri | support crisishit countriesprovid financi support | countri | hit shock cushion impact hasten |
| also | hungari ukrain pakistan iceland come | also | close monitor fallout global downturn |
| global | come also close monitor fallout | global | downturn lowincom member increas support |
| countri | member increas support dozen prgf | countri | stand readi provid addit financi |
| also | provid addit financi resourc crisi | also | reveal new type need fund |
| need | crisi also reveal new type | need | fund creat new facil design |
| countri | term liquid without condit beyond | countri | alreadi strong track record qualifi |
| countri | functionit instrument approach condit amount | countri | borrow financi termsto make sure |
| need | financi termsto make sure meet | need | member crisi get wors world |
| need | crisi get wors world go | need | suppli much liquid affect countri |
| countri | need suppli much liquid affect | countri | enough resourc chang quick g |
| countri | add resourc fund would urg | countri | larg reserv follow japan exampl |
| global | challeng aris crisi first time | global | crisi general increas quota certain |
| also | solut reli new sdrs would | also | urg major advanc economi cofin |
| economi | would also urg major advanc | economi | cofin fund loan either direct |
| market | program done restor stabil financi | market | support aggreg demand provid financi |
| countri | demand provid financi support crisishit | countri | signific step forward made want |
| polici | said graviti lot remain done | polici | avoid futur crisislet say someth |
| need | new financi architectur mani chang | need | may aris g process other |
| need | control fund first univers recognit | need | chang financi market regul open |
| market | univers recognit need chang financi | market | regul open financi system provid |
| econom | open financi system provid tremend | econom | benefit nation financi market rais |
| market | tremend econom benefit nation financi | market | rais growth lower cost capit |
| growth | benefit nation financi market rais | growth | lower cost capit firm allow |
| market | prefer spend path intern financi | market | broaden avail capit firm save |
| global | continu done nation level given | global | financi market also need greater |
| market | nation level given global financi | market | also need greater intern coordin |
| also | level given global financi market | also | need greater intern coordin mean |
| need | given global financi market also | need | greater intern coordin mean import |
| market | assess linkag financi sector financi | market | rule macroeconom outcom perspect critic |
| market | give exampl becom obvious financi | market | regul procycl way fiscal monetari |
| polici | regul procycl way fiscal monetari | polici | procycl also becom obvious big |
| also | way fiscal monetari polici procycl | also | becom obvious big problem fight |
| need | obvious big problem fight problem | need | understand regul also cycl linkag |
| also | fight problem need understand regul | also | cycl linkag financi sector real |
| economi | well mani other work real | economi | one stand corner wall street |
| economi | account linkag financi sector real | economi | imf forecast alway much pessimist |
| also | michel camdessus horst koehler fund | also | two emin depart director spain |
| market | caruana director fund monetari capit | market | depart jaim also quiet consist |
| also | monetari capit market depart jaim | also | quiet consist made right call |
| market | made right call mani financi | market | issu includ extent financi sector |
| global | impend problem better complex current | global | financi system call stronger respons |
| market | regular consultationswith expand fsf govern | market | outsid observ need system improv |
| need | fsf govern market outsid observ | need | system improv circul inform stronger |
| global | circul inform stronger link nation | global | surveil emphasi region level system |
| econom | analyt method fund design assess | econom | prospect vulner season judgment doubt |
| need | serious spillov risk central europ | need | system identifi risk recommend remedi |
| also | risk special invest vehicleswhich fund | also | though perhap loud enoughbut also |
| also | also though perhap loud enoughbut | also | come remedi rais capit requir |
| financ | entir good thing head govern | financ | minist becom deepli involv intern |
| countri | small ingroup everi ingroup outgroup | countri | account world popul includ larg |
| need | g think enhanc role g | need | accompani greater relianc multilater institut |
| countri | multilater institut near univers membership | countri | want particip intern system left |
| also | perspect macrofinanci linkag engag fund | also | help improv legitimaci effect decis |
| countri | univers membership allow convey view | countri | reach countri organ come implement |
| countri | allow convey view countri reach | countri | organ come implement fund mandat |
| polici | fund mandat process place assess | polici | adopt differ countri promot best |
| countri | place assess polici adopt differ | countri | promot best practic surveil technic |
| need | fund repres well univers especi | need | see increas role respons emerg |
| market | see increas role respons emerg | market | reform fund quota broader govern |
| global | emerg regard serious nearterm threat | global | economi mani advanc economi fallen |
| economi | regard serious nearterm threat global | economi | mani advanc economi fallen recess |
| economi | threat global economi mani advanc | economi | fallen recess activ emerg economi |
| economi | economi fallen recess activ emerg | economi | slow abrupt time notwithstand adopt |
| polici | time notwithstand adopt bold comprehens | polici | measur mani major advanc economi |
| economi | polici measur mani major advanc | economi | sign yet fundament revers financi |
| market | sign yet fundament revers financi | market | disloc deleverag repres sign contributor |
| global | repres sign contributor still unfold | global | econom strain g summit financi |
| econom | sign contributor still unfold global | econom | strain g summit financi market |
| market | econom strain g summit financi | market | world economi took place washington |
| economi | g summit financi market world | economi | took place washington last month |
| econom | challeng explicit symbol evolv world | econom | order summit also confirm senior |
| also | evolv world econom order summit | also | confirm senior polit author recogn |
| need | senior polit author recogn urgent | need | address credibl under caus current |
| global | month repres test turn point | global | economi intern financi market global |
| economi | repres test turn point global | economi | intern financi market global govern |
| market | point global economi intern financi | market | global govern global outlookglob econom |
| global | global economi intern financi market | global | govern global outlookglob econom prospect |
| global | intern financi market global govern | global | outlookglob econom prospect deterior sharpli |
| econom | market global govern global outlookglob | econom | prospect deterior sharpli recent month |
| economi | crisi spread increas engulf emerg | economi | advanc economi consum busi confid |
| economi | increas engulf emerg economi advanc | economi | consum busi confid drop level |
| economi | severetol crisi begun take emerg | economi | mani case deleverag asset sale |
| global | depreci novemb imf revis forecast | global | growth less month public octob |
| growth | novemb imf revis forecast global | growth | less month public octob world |
| econom | less month public octob world | econom | outlook base current polici world |
| polici | world econom outlook base current | polici | world economi project grow  |
| economi | outlook base current polici world | economi | project grow  ¼ percent |
| economi | percent percent pick major advanc | economi | recess activ expect contract  |
| countri | annual contract postwar period group | countri | activ emerg economi also slow |
| economi | period group countri activ emerg | economi | also slow abrupt growth economi |
| also | group countri activ emerg economi | also | slow abrupt growth economi still |
| growth | emerg economi also slow abrupt | growth | economi still project around percent |
| economi | economi also slow abrupt growth | economi | still project around percent led |
| economi | asia recent develop underscor mani | economi | face difficult time adjust deterior |
| global | face difficult time adjust deterior | global | environ unfortun even newli reduc |
| econom | signific imf publish quarter world | econom | outlook updat januari base recent |
| global | develop seem like mark forecast | global | growth maintain assess hopedfor stabil |
| growth | seem like mark forecast global | growth | maintain assess hopedfor stabil financi |
| polici | hopedfor stabil financi condit increas | polici | support enabl gradual recoveri begin |
| economi | reced rapid across advanc emerg | economi | open addit room monetari polici |
| polici | economi open addit room monetari | polici | eas background polici maker three |
| polici | room monetari polici eas background | polici | maker three broad task ahead |
| polici | financi crisi includ adopt coordin | polici | respons underpin confid restor financi |
| polici | risk crise futur bolster demandrec | polici | action advanc countri use public |
| countri | bolster demandrec polici action advanc | countri | use public fund recapit financi |
| need | sharp drop confid addit measur | need | support demand reduc potenti negat |
| growth | reflect fall energi price weaken | growth | increas scope monetari eas limit |
| polici | effort aggress fed action reduc | polici | rate dramat cut interest rate |
| economi | england ecb central bank advanc | economi | includ australia new zealand switzerland |
| countri | australia new zealand switzerland sever | countri | includ europ like room eas |
| polici | europ like room eas monetari | polici | othersespeci unit state japanhav alreadi |
| polici | unit state japanhav alreadi reduc | polici | interest rate low level real |
| economi | deflat risk start becom concern | economi | output gap widen inde indic |
| polici | central bank consid altern expansionari | polici | move could undertaken interest rate |
| economi | like felt time come emerg | economi | reli capit inflow financ expans |
| financ | emerg economi reli capit inflow | financ | expans bank credit effect monetari |
| polici | expans bank credit effect monetari | polici | may also limit circumst fiscal |
| also | credit effect monetari polici may | also | limit circumst fiscal expans need |
| need | also limit circumst fiscal expans | need | mani economi help sustain domest |
| economi | circumst fiscal expans need mani | economi | help sustain domest demand effect |
| global | suggest total stimulus around percent | global | gdpperhap accompani firm commit situat |
| need | baselin provid stimulus howev policymak | need | safeguard mediumterm fiscal sustain diversif |
| polici | mediumterm fiscal sustain diversif fiscal | polici | measur would import order insur |
| econom | reduc spend increas uncertainti concern | econom | prospect like save temporari tax |
| polici | cut howev spend would benefit | polici | commit reduc perceiv risk sustain |
| countri | consider relev context first sever | countri | fiscal rule subnat govern state |
| economi | second current recess sever advanc | economi | could last longer previous instanc |
| polici | fiscal expans minim crossbord leakag | polici | effort appli broad across advanc |
| economi | appli broad across advanc emerg | economi | low debt disciplin polici past |
| polici | emerg economi low debt disciplin | polici | past provid suffici polici space |
| polici | disciplin polici past provid suffici | polici | space howev countri greater vulner |
| countri | provid suffici polici space howev | countri | greater vulner midst crisi need |
| need | countri greater vulner midst crisi | need | address weak fiscal posit part |
| economi | effort stabil situat safeguard emerg | economi | access extern financingwhil monetari budget |
| polici | access extern financingwhil monetari budget | polici | like crucial sustain demand emerg |
| economi | like crucial sustain demand emerg | economi | face import addit challeng ensur |
| countri | solvenc crisi financi deleverag advanc | countri | foreign investor reduc exposur broad |
| economi | investor reduc exposur broad swath | economi | sever countri suffer sharp capit |
| countri | exposur broad swath economi sever | countri | suffer sharp capit flow revers |
| market | revers sudden stop relat liquid | market | benefit previous larg carri trade |
| economi | sharp depreci regist mani emerg | economi | countri flexibl exchang rate regim |
| countri | depreci regist mani emerg economi | countri | flexibl exchang rate regim exchang |
| countri | much pressur aris capit outflow | countri | may need increas flexibl exchang |
| need | aris capit outflow countri may | need | increas flexibl exchang rate regim |
| countri | stock intern reserv accumul mani | countri | recent year provid room intervent |
| market | provid room intervent avoid disord | market | condit countri need respond quick |
| countri | intervent avoid disord market condit | countri | need respond quick provid liquid |
| need | avoid disord market condit countri | need | respond quick provid liquid sinc |
| economi | intensif crisi septemb sever emerg | economi | provid extraordinari liquid support financi |
| also | purpos continu extens liquid may | also | need includ nonfinanci corpor sector |
| need | continu extens liquid may also | need | includ nonfinanci corpor sector countri |
| countri | need includ nonfinanci corpor sector | countri | fund market quick disappear countri |
| market | nonfinanci corpor sector countri fund | market | quick disappear countri larg reserv |
| countri | countri fund market quick disappear | countri | larg reserv buffer provid foreign |
| need | buffer provid foreign currenc liquid | need | acut shortag dollar fund increas |
| economi | imf quick move help emerg | economi | batter crisi sharp slowdown advanc |
| economi | batter crisi sharp slowdown advanc | economi | particular emerg europ fund today |
| countri | fund may use support member | countri | face financ shortfal inde sever |
| financ | use support member countri face | financ | shortfal inde sever countri includ |
| countri | face financ shortfal inde sever | countri | includ hungari iceland serbia ukrain |
| countri | secur imf financi support sever | countri | current negoti imfsupport econom adjust |
| econom | sever countri current negoti imfsupport | econom | adjust program addit imf creat |
| market | facil slf slf provid emerg | market | member countri possess strong macroeconom |
| countri | slf provid emerg market member | countri | possess strong macroeconom posit record |
| polici | strong macroeconom posit record consist | polici | implement larg upfront access fund |
| also | extern liquid pressur region initi | also | help effort aim region pool |
| countri | swap asia provid backup individu | countri | face extern fund pressur arrang |
| global | exampl link use slf reform | global | financi architecturelook beyond immedi challeng |
| need | made clear new think action | need | least three area relat global |
| global | need least three area relat | global | financi architectur includ design financi |
| also | greatest stress financi innov integr | also | increas speed extent shock transmit |
| countri | shock transmit across asset class | countri | blur boundari includ system nonsystem |
| market | agenc risk manag revisit enhanc | market | disciplin supervisori regulatori framework global |
| global | market disciplin supervisori regulatori framework | global | coordin ensur perimet regul supervis |
| global | supervis appropri crisi underscor tension | global | activ financi institut nation bound |
| also | regul supervisor enhanc inform provis | also | import improv assess build system |
| also | disclosur report rule inform requir | also | need cover larger set institut |
| need | report rule inform requir also | need | cover larger set institut insur |
| also | fund offbal sheet entiti cours | also | clear risk manag procedur individu |
| global | compet dramat damag financi system | global | economi need ask serious whether |
| economi | dramat damag financi system global | economi | need ask serious whether principl |
| need | damag financi system global economi | need | ask serious whether principl first |
| need | specif new regulatori supervisori control | need | crisi also made clear enorm |
| also | regulatori supervisori control need crisi | also | made clear enorm cost identifi |
| global | warn system must better inform | global | financi econom develop monitor larg |
| econom | must better inform global financi | econom | develop monitor larg financi conglomer |
| need | crossbord activ crossbord deriv posit | need | step better risk assess also |
| also | need step better risk assess | also | mean strengthen macrofinanci analysi enhanc |
| also | system earli warn surveil work | also | requir find right incent balanc |
| countri | requir find right incent balanc | countri | voluntarili engag vulner assess make |
| need | summari action across rang area | need | help global economi financi system |
| global | across rang area need help | global | economi financi system regain foot |
| economi | rang area need help global | economi | financi system regain foot macroeconom |
| polici | role bolster demand financi sector | polici | continu implement fine tune need |
| need | polici continu implement fine tune | need | collect must work togeth strengthen |
| global | collect must work togeth strengthen | global | financi architectur way reduc futur |
| financ | recogn import financi integr crossbord | financ | design regul new mechan crisi |
| market | prevent resolut g summit financi | market | world economi laid ambiti agenda |
| economi | g summit financi market world | economi | laid ambiti agenda fund colleagu |
| global | pave way toward resili postcrisi | global | economi |
| economi | way toward resili postcrisi global | economi | |
| global | opportun address today import topic | global | economi critic junctur advanc economi |
| economi | address today import topic global | economi | critic junctur advanc economi alreadi |
| economi | global economi critic junctur advanc | economi | alreadi near recess time financi |
| market | alreadi near recess time financi | market | disloc deleverag driven unfold strain |
| global | disloc deleverag driven unfold strain | global | economi persist combin financi stress |
| economi | deleverag driven unfold strain global | economi | persist combin financi stress lower |
| growth | combin financi stress lower negat | growth | advanc economi increas impact emerg |
| economi | stress lower negat growth advanc | economi | increas impact emerg market economiesparticular |
| market | advanc economi increas impact emerg | market | economiesparticular countri like jamaica need |
| countri | increas impact emerg market economiesparticular | countri | like jamaica need sustain access |
| need | market economiesparticular countri like jamaica | need | sustain access capit market deepen |
| market | jamaica need sustain access capit | market | deepen global challeng polici responseslet |
| global | sustain access capit market deepen | global | challeng polici responseslet begin challeng |
| polici | capit market deepen global challeng | polici | responseslet begin challeng confront global |
| global | polici responseslet begin challeng confront | global | economi general note global growth |
| economi | responseslet begin challeng confront global | economi | general note global growth prospect |
| global | confront global economi general note | global | growth prospect deterior sharpli imf |
| growth | global economi general note global | growth | prospect deterior sharpli imf project |
| economi | deterior sharpli imf project world | economi | grow  ¼ percent next |
| economi | ¼ percent next year advanc | economi | contract  ¼ percent period |
| growth | contract  ¼ percent period | growth | prospect mani fastgrow emerg economi |
| economi | growth prospect mani fastgrow emerg | economi | also undermin latest declin commod |
| also | prospect mani fastgrow emerg economi | also | undermin latest declin commod price |
| economi | declin commod price anticip emerg | economi | expand percent although consider region |
| market | risk thus prioriti mani emerg | market | economi take action bolster confid |
| economi | thus prioriti mani emerg market | economi | take action bolster confid polici |
| polici | economi take action bolster confid | polici | strengthen social safeti net around |
| polici | social safeti net around world | polici | respons unfold global econom challeng |
| global | around world polici respons unfold | global | econom challeng vari advanc countri |
| econom | world polici respons unfold global | econom | challeng vari advanc countri activ |
| countri | global econom challeng vari advanc | countri | activ sought address under weak |
| global | monetari fiscal initi help support | global | demand also pursu inde inflat |
| also | initi help support global demand | also | pursu inde inflat reced central |
| market | reced central bank advanc emerg | market | countri also taken step eas |
| countri | central bank advanc emerg market | countri | also taken step eas monetari |
| also | bank advanc emerg market countri | also | taken step eas monetari polici |
| polici | also taken step eas monetari | polici | howev well known asymmetri regard |
| polici | well known asymmetri regard monetari | polici | need taken account real economi |
| need | known asymmetri regard monetari polici | need | taken account real economi grow |
| economi | polici need taken account real | economi | grow rapid tighten monetari polici |
| polici | economi grow rapid tighten monetari | polici | higher interest rate increas cost |
| economi | therebi act brake howev real | economi | stall loosen monetari polici remov |
| polici | real economi stall loosen monetari | polici | remov uncertainti firm face regard |
| polici | rate act brake looser monetari | polici | often liken push string fundament |
| economi | push string fundament under engin | economi | begin exert pull looser monetari |
| polici | begin exert pull looser monetari | polici | may limit effect bank normal |
| polici | repair balanc sheet channel monetari | polici | normal work sever impair therefor |
| polici | work sever impair therefor fiscal | polici | feasibl also play role help |
| also | impair therefor fiscal polici feasibl | also | play role help support domest |
| countri | help support domest demand sever | countri | includ unit state china various |
| economi | unit state china various european | economi | alreadi announc stimulus plan broad |
| global | stimulus plan broad research suggest | global | fiscal stimulus order percent world |
| polici | mention previous counter cyclic fiscal | polici | necessarili advis countri particular greater |
| countri | cyclic fiscal polici necessarili advis | countri | particular greater vulner debt sustain |
| countri | debt sustain major concern thus | countri | strongest fiscal polici framework best |
| polici | concern thus countri strongest fiscal | polici | framework best abl financ new |
| financ | fiscal polici framework best abl | financ | new fiscal effort clear sustain |
| global | debt posit take lead support | global | demand macroeconom polici crucial sustain |
| polici | lead support global demand macroeconom | polici | crucial sustain demand emerg economi |
| economi | polici crucial sustain demand emerg | economi | face addit challeng ensur unfold |
| market | crisi inde deleverag impact emerg | market | countri general includ relat strong |
| countri | inde deleverag impact emerg market | countri | general includ relat strong fundament |
| countri | general includ relat strong fundament | countri | liquid domest financi market previous |
| market | fundament countri liquid domest financi | market | previous receiv larg capit inflow |
| financ | inflow experienc abrupt revers extern | financ | flow past experi suggest exchang |
| countri | ensur avail foreign currenc liquid | countri | remain pressur global financi deleverag |
| global | currenc liquid countri remain pressur | global | financi deleverag time spillov global |
| global | global financi deleverag time spillov | global | financi crisi jamaican perspectivelet turn |
| global | region inevit impact challeng confront | global | economi particular given region close |
| economi | inevit impact challeng confront global | economi | particular given region close tie |
| economi | given region close tie u | economi | slowdown global econom activ like |
| global | close tie u economi slowdown | global | econom activ like reflect weaker |
| econom | tie u economi slowdown global | econom | activ like reflect weaker foreign |
| countri | sector tourism result outlook caribbean | countri | revis recent month certain true |
| growth | jamaica current expect relat flat | growth | year modest recoveri  ½ |
| growth | sharpli fund outlook earlier year | growth | excess percent sharp revis outlook |
| global | sharp revis outlook speak speed | global | prospect deterior jamaica also fallen |
| also | speed global prospect deterior jamaica | also | fallen victim pressur associ ongo |
| global | fallen victim pressur associ ongo | global | financi volatil emerg market countri |
| market | ongo global financi volatil emerg | market | countri spread jamaica sovereign corpor |
| countri | global financi volatil emerg market | countri | spread jamaica sovereign corpor debt |
| polici | come pressur fortun decis wellcoordin | polici | action help stabil situat recent |
| polici | call addit step tighten monetari | polici | particular wellplac equal import govern |
| econom | task current weak domest extern | econom | environ necessari given under risk |
| need | larg debt burden time care | need | taken protect social spend includ |
| market | welcom send import posit signal | market | particip let also assur fund |
| also | posit signal market particip let | also | assur fund intend remain collabor |
| econom | collabor partner jamaica certain fund | econom | report jamaica produc biannual oppos |
| polici | iv report speak qualiti macrofinanci | polici | discuss author moreov fund activ |
| countri | imf import role play help | countri | advanc emerg weather global financi |
| global | help countri advanc emerg weather | global | financi storm bring next issu |
| econom | help minim potenti sever negat | econom | social impact current global financi |
| global | negat econom social impact current | global | financi econom turbul also believ |
| econom | social impact current global financi | econom | turbul also believ action recent |
| also | current global financi econom turbul | also | believ action recent week speak |
| polici | regular multilater bilater surveil provid | polici | advic technic assist member experi |
| polici | respond new challeng creat innov | polici | tool exogen shock facil made |
| also | low incom member access fund | also | recent creat shortterm liquid facil |
| countri | liquid facil slf help emerg | countri | except strong polici track record |
| polici | help emerg countri except strong | polici | track record navig shortterm liquid |
| countri | record navig shortterm liquid shortag | countri | exist polici framework need strengthen |
| polici | shortterm liquid shortag countri exist | polici | framework need strengthen fund provid |
| need | shortag countri exist polici framework | need | strengthen fund provid member countri |
| countri | need strengthen fund provid member | countri | access tradit lend facil longer |
| countri | ampl liquid resourc support member | countri | face financ shortfal fund alreadi |
| financ | resourc support member countri face | financ | shortfal fund alreadi commit signific |
| countri | signific financi support sever member | countri | recent week includ hungari iceland |
| growth | immedi challeng restor financi stabil | growth | structur condit limit sector root |
| econom | structur condit limit sector root | econom | crisi countri face exampl resolv |
| countri | limit sector root econom crisi | countri | face exampl resolv capit defici |
| need | made clear new think action | need | improv design financi regul ii |
| also | mind strengthen earli warn capabl | also | eager strengthen collabor other develop |
| global | macrofinanci surveil conclusionin conclus evolv | global | econom crisi pose signific econom |
| econom | surveil conclusionin conclus evolv global | econom | crisi pose signific econom polici |
| econom | global econom crisi pose signific | econom | polici challeng insurmount challeng face |
| polici | econom crisi pose signific econom | polici | challeng insurmount challeng face tough |
| polici | ahead set coher coordin welltarget | polici | across globe collect reduc difficulti |
| polici | collect reduc difficulti imf bring | polici | expertis financi resourc help countri |
| countri | polici expertis financi resourc help | countri | weather current macrofinanci storm part |
| global | storm part creat resili postcrisi | global | economi durabl global financi system |
| economi | part creat resili postcrisi global | economi | durabl global financi system thank |
| global | resili postcrisi global economi durabl | global | financi system thank |
| economi | enorm stress great uncertainti world | economi | serious financi crisi generat tip |
| economi | crisi generat tip mani advanc | economi | recess credit squeez spread trade |
| countri | spread trade flow slow develop | countri | face serious setback fault lowincom |
| countri | face serious setback fault lowincom | countri | particular recent gain poverti reduct |
| economi | reduct improv live standard jeopardi | economi | alreadi weaken cumul effect food |
| global | price surg face second blow | global | recess recent declin food fuel |
| countri | food fuel price mitig pressur | countri | creat new problem other e |
| countri | oilmet financi crisi origin advanc | countri | respons address rest main countriesrich |
| global | common interest see prompt return | global | stabil growth requir polici respons |
| growth | see prompt return global stabil | growth | requir polici respons four broad |
| polici | return global stabil growth requir | polici | respons four broad front tackl |
| market | first immedi task stabil financi | market | uncertain start strong coordin action |
| countri | posit sign emerg least advanc | countri | financi market credit freez begun |
| market | emerg least advanc countri financi | market | credit freez begun thaw increas |
| need | substanti risk remain continu effort | need | rebuild capit restor liquid financi |
| market | liquid financi system time emerg | market | countri need assist manag financi |
| countri | financi system time emerg market | countri | need assist manag financi contagion |
| need | system time emerg market countri | need | assist manag financi contagion provid |
| also | support rapid tight focus condit | also | stand readi provid liquid support |
| global | press challeng counter downward spiral | global | demand requir concert fiscal stimulus |
| countri | concert fiscal stimulus monetari eas | countri | posit provid stimulus act prompt |
| global | protectionist pressur strenuous resist reform | global | financi architectureth third imper launch |
| global | crisi import factor restor confid | global | financi market element consensus strengthen |
| market | factor restor confid global financi | market | element consensus strengthen system begun |
| econom | wood institut adequ reflect chang | econom | weight world economi fund exercis |
| economi | reflect chang econom weight world | economi | fund exercis surveil mandat global |
| global | economi fund exercis surveil mandat | global | financi system play central role |
| financ | central role reform intern architectur | financ | develop new global contextfin onset |
| global | intern architectur financ develop new | global | contextfin onset global recess made |
| global | develop new global contextfin onset | global | recess made need follow aid |
| need | contextfin onset global recess made | need | follow aid commit develop countri |
| countri | need follow aid commit develop | countri | even import urgent met accra |
| countri | less three month ago lowincom | countri | face prospect declin privat capit |
| market | capit flow well shrink export | market | also expos volatil commod price |
| also | flow well shrink export market | also | expos volatil commod price deterior |
| financ | deterior term trade major whose | financ | weaken high cost food fuel |
| need | without addit donor support cours | need | see acceler progress reduc poverti |
| countri | made donor communiti part lowincom | countri | respons continu improv polici lift |
| polici | lowincom countri respons continu improv | polici | lift peopl poverti includ make |
| countri | fund increas financi support lowincom | countri | year alon reform exogen shock |
| countri | scale high concession term lowincom | countri | need conclusionsin sum intern coordin |
| need | high concession term lowincom countri | need | conclusionsin sum intern coordin import |
| need | way support nation goal institut | need | system reform base participatori inclus |
| global | participatori inclus process reflect evolv | global | realiti quota voic reform increas |
| market | reform increas voic dynam emerg | market | enhanc particip lowincom member creat |
| economi | refer africa home mani vulner | economi | also seen progress recent year |
| also | africa home mani vulner economi | also | seen progress recent year essenti |
| global | financi crisi slowdown benefit integr | global | economi end fund govern tanzania |
| economi | crisi slowdown benefit integr global | economi | end fund govern tanzania cohost |
| global | emerg regard serious nearterm threat | global | economi advanc economi alreadi close |
| economi | regard serious nearterm threat global | economi | advanc economi alreadi close near |
| economi | nearterm threat global economi advanc | economi | alreadi close near recess time |
| market | sign yet fundament revers financi | market | disloc deleverag repres sign contributor |
| global | repres sign contributor still unfold | global | econom strain contrari virul combin |
| econom | sign contributor still unfold global | econom | strain contrari virul combin financi |
| economi | combin financi stress shrink advanc | economi | demand impact emerg economi potenti |
| economi | advanc economi demand impact emerg | economi | potenti signific negat effect g |
| market | negat effect g summit financi | market | world economi took place washington |
| economi | g summit financi market world | economi | took place washington last weekend |
| econom | challeng explicit symbol evolv world | econom | order summit confirm senior polit |
| need | senior polit author recogn urgent | need | address credibl under caus current |
| polici | cooper scope cooper broader term | polici | countri involv case past sever |
| countri | scope cooper broader term polici | countri | involv case past sever import |
| global | month repres test turn point | global | economi intern financi market global |
| economi | repres test turn point global | economi | intern financi market global govern |
| market | point global economi intern financi | market | global govern effort agre last |
| global | global economi intern financi market | global | govern effort agre last weekend |
| also | impart momentum reform effort summit | also | reflect under consensus intend natur |
| global | under consensus intend natur futur | global | system particular summit communiquà © |
| market | reform success ground commit free | market | principl includ rule law respect |
| market | properti open trade invest competit | market | effici effect regul financi system |
| need | level consensus polit commit regard | need | act exhibit summit justifi hope |
| global | crisi implement signific structur improv | global | economi intern financi market miss |
| economi | implement signific structur improv global | economi | intern financi market miss final |
| market | improv global economi intern financi | market | miss final g leader pledg |
| financ | futur deepen challengesthat govern leader | financ | minist economi repres percent global |
| economi | challengesthat govern leader financ minist | economi | repres percent global gdp could |
| global | financ minist economi repres percent | global | gdp could agre assembl washington |
| econom | session motiv attende clear howev | econom | prospect deterior notabl past two |
| global | deterior notabl past two month | global | financi crisi taken sharp turn |
| economi | taken sharp turn wors advanc | economi | consum busi confid drop level |
| economi | slow sharpli even contract mani | economi | worrisom sudden sever toll crisi |
| economi | toll crisi begun take emerg | economi | mani case deleverag asset sale |
| economi | currenc depreci result project world | economi | grow  ¼ percent reflect |
| econom | threequart percentag point octob world | econom | outlook forecast final week ago |
| economi | week ago new forecast advanc | economi | expect contract  ¼ percent |
| countri | first annual contract postwar period | countri | group growth prospect emerg economi |
| growth | contract postwar period countri group | growth | prospect emerg economi also undermin |
| economi | countri group growth prospect emerg | economi | also undermin latest develop still |
| also | group growth prospect emerg economi | also | undermin latest develop still new |
| economi | imf forecast anticip activ emerg | economi | expand percent although consider region |
| economi | region variat thus expect emerg | economi | account percent global growth next |
| global | expect emerg economi account percent | global | growth next year also true |
| growth | emerg economi account percent global | growth | next year also true howev |
| also | percent global growth next year | also | true howev even newli reduc |
| growth | forecast taken grant downsid risk | growth | even emerg economi remain signific |
| economi | downsid risk growth even emerg | economi | remain signific thus action taken |
| economi | signific thus action taken emerg | economi | author bolster confid appropri polici |
| polici | economi author bolster confid appropri | polici | well effort intern communiti provid |
| global | critic order attain hopedfor reviv | global | growth remaind present review undertak |
| growth | order attain hopedfor reviv global | growth | remaind present review undertak last |
| growth | nearterm action view crucial restor | growth | financi sector sound well measur |
| global | consid essenti improv mediumterm perform | global | financi system reduc risk futur |
| global | imf help member crisi sustain | global | demandgiven speed growth prospect deterior |
| growth | crisi sustain global demandgiven speed | growth | prospect deterior surpris broad agreement |
| polici | weekend summit new monetari fiscal | polici | initi need support global demand |
| need | new monetari fiscal polici initi | need | support global demand sure recent |
| global | fiscal polici initi need support | global | demand sure recent polici action |
| polici | support global demand sure recent | polici | action advanc countri use public |
| countri | sure recent polici action advanc | countri | use public balanc sheet recapit |
| global | howev measur suffici halt slide | global | output inflat reced mani advanc |
| economi | inflat reced mani advanc emerg | economi | eas monetari polici mani central |
| polici | advanc emerg economi eas monetari | polici | mani central bank alreadi taken |
| polici | includ aggress fed action reduc | polici | rate recent sizeabl cut interest |
| polici | bank england clear shift toward | polici | eas european central bank advanc |
| economi | eas european central bank advanc | economi | includ australia switzerland among other |
| economi | among other mani key emerg | economi | central bank also cut interest |
| also | key emerg economi central bank | also | cut interest rate eas reserv |
| economi | actual reduc volum credit emerg | economi | reli capit inflow financ expans |
| financ | emerg economi reli capit inflow | financ | expans bank credit effect monetari |
| polici | expans bank credit effect monetari | polici | may also limit appropri therefor |
| also | credit effect monetari polici may | also | limit appropri therefor fiscal expans |
| countri | explicit summit communiquà © sever | countri | includ unit state china various |
| economi | unit state china various european | economi | alreadi announc fiscal stimulus plan |
| need | consider fiscal stimulus time impact | need | cushion demand immedi result innov |
| need | help boost demand would target | need | also oneoff transfer state feder |
| also | boost demand would target need | also | oneoff transfer state feder system |
| global | state level broad research suggest | global | fiscal stimulus order percent gdp |
| polici | percent gdp justifi moreov fiscal | polici | action would effect implement key |
| countri | effect implement key trade partner | countri | less simultan said fiscal action |
| countri | said fiscal action may advis | countri | greater vulner debt sustain major |
| countri | debt sustain major concern thus | countri | strongest fiscal polici framework best |
| polici | concern thus countri strongest fiscal | polici | framework best abl financ new |
| financ | fiscal polici framework best abl | financ | new fiscal effort clear sustain |
| polici | shock becom solvenc crisiswhil macroeconom | polici | crucial sustain demand emerg economi |
| economi | polici crucial sustain demand emerg | economi | face import challeng ensur unfold |
| economi | deleverag begin increas strike impact | economi | follow period except growth countri |
| growth | impact economi follow period except | growth | countri signific vulner hit hard |
| countri | economi follow period except growth | countri | signific vulner hit hard even |
| countri | signific vulner hit hard even | countri | strong fundament affect particular countri |
| countri | countri strong fundament affect particular | countri | liquid domest financi market previous |
| market | particular countri liquid domest financi | market | previous receiv larg capit inflow |
| financ | inflow experienc abrupt revers extern | financ | flow past experi indic deal |
| economi | challeng requir effort advanc emerg | economi | affect emerg economi focus must |
| economi | advanc emerg economi affect emerg | economi | focus must deal immedi liquid |
| economi | far measur taken policymak emerg | economi | improv liquid appear limit impact |
| countri | limit impact restor confid even | countri | larg reserv buffer emerg economi |
| economi | countri larg reserv buffer emerg | economi | flexibl exchang rate regim exchang |
| countri | pressur aris capit outflow cours | countri | peg exchang rate face differ |
| polici | differ set challeng lack degre | polici | freedom time emerg economi larg |
| economi | degre polici freedom time emerg | economi | larg reserv buffer may provid |
| need | may provid foreign currenc liquid | need | economi regardless emerg economi like |
| economi | provid foreign currenc liquid need | economi | regardless emerg economi like remain |
| economi | liquid need economi regardless emerg | economi | like remain pressur time global |
| global | economi like remain pressur time | global | financi deleverag even favor plausibl |
| economi | liquid provis continu critic emerg | economi | abil weather storm imf execut |
| countri | provid substanti liquid support emerg | countri | good polici good track record |
| polici | liquid support emerg countri good | polici | good track record experienc liquid |
| market | experienc liquid shortag deterior extern | market | condit innov facil design access |
| polici | facil becom regular part fund | polici | toolkit feder reserv also establish |
| also | fund polici toolkit feder reserv | also | establish swap line central bank |
| also | remain open april region initi | also | help effort aim region pool |
| countri | bilater swap provid backup individu | countri | face signific extern fund pressur |
| global | link use new slf improv | global | financi systemlook beyond immedi challeng |
| need | made clear new think action | need | least three area relat global |
| global | need least three area relat | global | financi architectur first design financi |
| need | architectur first design financi regul | need | improv second better way assess |
| need | third mechan effect coordin action | need | reduc risk crise address occur |
| market | domest intern level open financi | market | provid tremend benefit lower cost |
| need | lower cost capit effect regul | need | realiz potenti demonstr graphic financi |
| economi | shock transmit across asset class | economi | howev regul supervis remain gear |
| global | counterparti failur supervisori regulatori framework | global | coordin ensur perimet regul supervis |
| global | supervis appropri crisi underscor tension | global | activ financi institut nation bound |
| global | prevent resolut evid deal resolut | global | bank headquart relat small countri |
| countri | global bank headquart relat small | countri | inform also better inform would |
| also | headquart relat small countri inform | also | better inform would help market |
| market | also better inform would help | market | particip author improv assess system |
| also | disclosur report rule inform requir | also | could cover much larger set |
| polici | requir close cooper among key | polici | maker bring togeth scatter intern |
| global | regul supervis must better inform | global | financi econom develop better risk |
| econom | must better inform global financi | econom | develop better risk assess also |
| also | econom develop better risk assess | also | mean strengthen macrofinanci analysi enhanc |
| also | system earli warn surveil work | also | requir find right incent balanc |
| countri | requir find right incent balanc | countri | voluntarili engag vulner assess make |
| need | assess make assess mandatori decis | need | made use model reli name |
| need | commit act privat sector clear | need | improv risk manag system real |
| need | concret fashion look beyond shortterm | need | support global demand summit particip |
| global | look beyond shortterm need support | global | demand summit particip adopt sweep |
| polici | reform work group form pursu | polici | reform five broad area strengthen |
| market | sound regul promot integr financi | market | reinforc intern cooper reform intern |
| also | expect readi consider end march | also | agre set mediumterm action pursu |
| market | improv infrastructur credit default swap | market | overthecount deriv market addit action |
| market | default swap market overthecount deriv | market | addit action plan call review |
| also | manag liquid risk action plan | also | call imf work togeth expand |
| also | financi institut summit communiquà © | also | commit g member undertak financi |
| countri | imf world bank date two | countri | attend summit either alreadi fsap |
| polici | regular multilater bilater surveil provid | polici | advic technic assist member second |
| economi | fund move quick help emerg | economi | batter crisi sharp slowdown advanc |
| economi | batter crisi sharp slowdown advanc | economi | crisi deepen spread fund disburs |
| countri | billion liquid resourc support member | countri | face financ shortfal inde sever |
| financ | resourc support member countri face | financ | shortfal inde sever countri alreadi |
| countri | face financ shortfal inde sever | countri | alreadi sought financi support fund |
| polici | negoti third becam clear innov | polici | tool need fund respond act |
| need | becam clear innov polici tool | need | fund respond act deploy resourc |
| polici | strong macroeconom posit record consist | polici | implement larg upfront access fund |
| need | pressur give rise balanc payment | need | fourth fund draw addit resourc |
| need | cumul pool resourc suffici meet | need | member crisi continu spread systemat |
| global | consist core mandat fund promot | global | financi stabil alreadi begun strengthen |
| need | warn capabl howev better understand | need | regard linkag financi sector develop |
| polici | macroeconom perform instanc relationship monetari | polici | risk take respons take lead |
| also | area new better oper tool | also | need develop macrofinanci surveil imf |
| need | new better oper tool also | need | develop macrofinanci surveil imf therefor |
| also | includ new shortterm liquid facil | also | call continu review adapt lend |
| polici | attent financi sector stronger macrofinanci | polici | advic part commit g member |
| also | regul consist intern standard leader | also | emphas want see reform bretton |
| need | bretton wood institut particular emphas | need | insur emerg develop economi greater |
| economi | emphas need insur emerg develop | economi | greater voic represent institut intern |
| need | author action across rang area | need | urgent help global economi financi |
| global | rang area need urgent help | global | economi financi system regain foot |
| economi | area need urgent help global | economi | financi system regain foot need |
| need | economi financi system regain foot | need | make exagger claim requir new |
| polici | flaw exist system substanti macroeconom | polici | action especi fiscal polici becom |
| polici | macroeconom polici action especi fiscal | polici | becom increas relev necessari broad |
| countri | increas relev necessari broad swath | countri | financi sector polici reform also |
| polici | broad swath countri financi sector | polici | reform also must continu implement |
| also | countri financi sector polici reform | also | must continu implement fine tune |
| need | must continu implement fine tune | need | collect must work togeth strengthen |
| global | collect must work togeth strengthen | global | financi architectur way reduc futur |
| financ | recogn import financi integr crossbord | financ | design regul new mechan crisi |
| market | prevent resolut g summit financi | market | world economi repres unpreced polit |
| economi | g summit financi market world | economi | repres unpreced polit messag increas |
| global | pave way toward resili postcrisi | global | economi |
| economi | way toward resili postcrisi global | economi | |
| economi | take place difficult time world | economi | start local problem subprim mortgag |
| market | start local problem subprim mortgag | market | unit state turn serious global |
| global | market unit state turn serious | global | financi crisi sinc center graviti |
| economi | sinc center graviti remain advanc | economi | impact increas felt throughout world |
| global | like today provid perspect imf | global | event financi crisi affect global |
| global | global event financi crisi affect | global | growth impact africa econom polici |
| growth | event financi crisi affect global | growth | impact africa econom polici respond |
| econom | affect global growth impact africa | econom | polici respond global financi crisi |
| polici | global growth impact africa econom | polici | respond global financi crisi start |
| global | impact africa econom polici respond | global | financi crisi start burst hous |
| economi | lot stress financi system advanc | economi | exacerb broaden credit qualiti concern |
| market | lead virtual closur interbank money | market | sharp retrench credit unit state |
| countri | credit unit state sever european | countri | respond massiv liquid inject central |
| market | bank insur deposit guarante money | market | transact buy back troubl asset |
| also | financi center welcom necessari imf | also | provid financi support econom program |
| econom | imf also provid financi support | econom | program number countri heavili affect |
| countri | financi support econom program number | countri | heavili affect despit effort impact |
| global | effort impact financi sector distress | global | growth like signific imf world |
| growth | impact financi sector distress global | growth | like signific imf world econom |
| econom | growth like signific imf world | econom | outlook releas octob estim advanc |
| economi | outlook releas octob estim advanc | economi | would see econom growth fall |
| econom | estim advanc economi would see | econom | growth fall averag  ½ |
| growth | advanc economi would see econom | growth | fall averag  ½ percent |
| countri | averag  ½ percent sever | countri | face recess may turn optimist |
| market | optimist project hope contagion emerg | market | economi would remain limit howev |
| economi | project hope contagion emerg market | economi | would remain limit howev event |
| economi | past week indic clear decoupl | economi | also center deleverag storm heighten |
| also | week indic clear decoupl economi | also | center deleverag storm heighten risk |
| economi | sharp declin capit flow emerg | economi | investor rush toward safest asset |
| market | notabl u treasuri secur equiti | market | emerg economi sold sharpli bond |
| economi | treasuri secur equiti market emerg | economi | sold sharpli bond spread widen |
| econom | low level sovereign debt sound | econom | polici help countri weather storm |
| polici | level sovereign debt sound econom | polici | help countri weather storm easili |
| countri | debt sound econom polici help | countri | weather storm easili late other |
| growth | face difficult situat face reduc | growth | prospect subsaharan africa remain less |
| global | subsaharan africa remain less integr | global | financi market direct impact global |
| market | remain less integr global financi | market | direct impact global financi turmoil |
| global | global financi market direct impact | global | financi turmoil like less sever |
| economi | like less sever advanc emerg | economi | africa immun global event short |
| global | advanc emerg economi africa immun | global | event short term mani countri |
| countri | global event short term mani | countri | subsaharan africa vulner sinc food |
| global | three princip transmiss channel lower | global | growth alreadi realiti like reduc |
| growth | princip transmiss channel lower global | growth | alreadi realiti like reduc demand |
| global | curtail flow remitt abroad tighten | global | credit condit like lower foreign |
| financ | flee liquid safer asset trade | financ | flow may also affect final |
| also | asset trade financ flow may | also | affect final bank system may |
| econom | bank often foreignown imf region | econom | outlook subsaharan africa publish earli |
| growth | point expect slowdown real gdp | growth | Â ½ percentag point level |
| market | base continu weak intern financi | market | weak data develop emerg market |
| market | market weak data develop emerg | market | countri includ south africa high |
| countri | weak data develop emerg market | countri | includ south africa high like |
| need | south africa high like forecast | need | revis downward global financi crisi |
| global | like forecast need revis downward | global | financi crisi also felt region |
| also | revis downward global financi crisi | also | felt region capit foreign exchang |
| market | felt region capit foreign exchang | market | exchang rate mani countri africa |
| countri | exchang market exchang rate mani | countri | africa includ region come sever |
| market | sever pressur recent week equiti | market | fallen sharpli countri includ cà |
| countri | week equiti market fallen sharpli | countri | includ cà ´ te d |
| also | ivoir kenya nigeria mauritius dire | also | reason expect resili part subsaharan |
| countri | expect resili part subsaharan african | countri | cours reduc demand african export |
| growth | reduc demand african export dampen | growth | howev strong under growth trend |
| growth | dampen growth howev strong under | growth | trend recent year reflect part |
| countri | produc negat incom shock export | countri | also help reduc import bill |
| also | negat incom shock export countri | also | help reduc import bill net |
| global | system subsaharan africa less integr | global | financi market thus less vulner |
| market | africa less integr global financi | market | thus less vulner deleverag general |
| financ | instrument reli substanti foreign borrow | financ | oper result financi institut region |
| market | larg remain unaffect domest money | market | general function normal implic current |
| econom | function normal implic current environ | econom | polici impact africa may less |
| polici | normal implic current environ econom | polici | impact africa may less sever |
| countri | premium circumst differ sharpli across | countri | singl recip would like suggest |
| econom | like suggest three key principl | econom | polici maker difficult time first |
| polici | suggest three key principl econom | polici | maker difficult time first seiz |
| countri | opportun bring inflat inflat remain | countri | comfort level impact global food |
| global | remain countri comfort level impact | global | food fuel price surg continu |
| need | price provid disinflationari impuls reduc | need | monetari polici tighten howev price |
| polici | disinflationari impuls reduc need monetari | polici | tighten howev price rigid buildup |
| countri | price rigid buildup inflationari expect | countri | suggest process automat tanzania instanc |
| countri | avail fiscal space judici mani | countri | creat fiscal space recent year |
| polici | recent year debt reduct strong | polici | thus fiscal sustain financ immedi |
| financ | strong polici thus fiscal sustain | financ | immedi concern demand condit weak |
| financ | tanzania budget provid stimulus extern | financ | public spend fall commod price |
| market | sustain restraint requir case current | market | condit conduc dramat expans public |
| market | therefor plan access intern capit | market | postpon avoid prohibit cost third |
| need | reserv asset avail trade credit | need | monitor care govern seek identifi |
| also | bank crisi erupt final would | also | like underlin even though circumst |
| polici | like underlin even though circumst | polici | implement reaction crisi may vari |
| countri | crisi may vari sharpli across | countri | derail growth strategi put place |
| growth | vari sharpli across countri derail | growth | strategi put place past decad |
| growth | today spite crisi crucial boost | growth | medium term make headway toward |
| econom | sector reform critic ingredi sustain | econom | growth tanzania see two broad |
| growth | reform critic ingredi sustain econom | growth | tanzania see two broad object |
| need | reform first even relev today | need | strengthen financi stabil reinforc prudenti |
| growth | deepen critic ingredi sustain high | growth | conclus intern environ challeng probabl |
| also | probabl year come challeng alway | also | opportun highlevel confer presid kikwet |
| polici | provid import occas bring togeth | polici | maker africa beyond address question |
| global | share podium secretari ryan discuss | global | prospect polici morn focus two |
| polici | secretari ryan discuss global prospect | polici | morn focus two key theme |
| global | key theme begin brief overview | global | outlook global economi major slowdown |
| global | begin brief overview global outlook | global | economi major slowdown risk could |
| economi | brief overview global outlook global | economi | major slowdown risk could turn |
| global | risk could turn outright downturn | global | growth slow sharpli alreadi year |
| growth | could turn outright downturn global | growth | slow sharpli alreadi year first |
| growth | sharpli alreadi year first half | growth | slow  ½ percent annual |
| economi | sustain four previous year advanc | economi | contract end advanc economi growth |
| economi | advanc economi contract end advanc | economi | growth slow standstil year first |
| growth | economi contract end advanc economi | growth | slow standstil year first half |
| economi | level last seen inde u | economi | slow sharpli recess risk loom |
| economi | earlier b increas emerg develop | economi | feel impact global financi crisi |
| global | emerg develop economi feel impact | global | financi crisi growth deceler rapid |
| growth | feel impact global financi crisi | growth | deceler rapid confluenc declin extern |
| global | quarter sum ampl justif pessim | global | prospect remain high uncertain risk |
| global | prospect remain high uncertain risk | global | recess loom larg nonetheless imf |
| polici | colleagu optimist decis comprehens coher | polici | respons abl truncat downsid risk |
| global | respons abl truncat downsid risk | global | economi key focus deal under |
| economi | abl truncat downsid risk global | economi | key focus deal under sourc |
| global | creat wide recogn under loci | global | econom weak stem asset price |
| econom | wide recogn under loci global | econom | weak stem asset price deflat |
| market | deflat especi hous real estat | market | surpris asset price deflat hard |
| market | asset price deflat hard financi | market | creat concentr circl crisi propag |
| global | creat concentr circl crisi propag | global | pace larg taken market particip |
| market | propag global pace larg taken | market | particip policymak surpris well macroeconom |
| polici | policymak surpris well macroeconom financi | polici | joint respond contain disrupt tell |
| global | respond contain disrupt tell determin | global | economi nearterm outlook two key |
| economi | contain disrupt tell determin global | economi | nearterm outlook two key risk |
| market | reason longterm level second financi | market | dysfunct produc reinforc round real |
| econom | dysfunct produc reinforc round real | econom | distress especi emerg economi mani |
| economi | real econom distress especi emerg | economi | mani countri hous market appar |
| countri | distress especi emerg economi mani | countri | hous market appar boomtim overshoot |
| market | emerg economi mani countri hous | market | appar boomtim overshoot valuat alreadi |
| market | overshoot valuat alreadi damag financi | market | real economi equallysc undershoot would |
| economi | alreadi damag financi market real | economi | equallysc undershoot would compound damag |
| economi | weaken unit state sever advanc | economi | unit state hous activ price |
| market | continu rise amid weaken labor | market | rather find floor expect occur |
| market | cours asset valu mani emerg | market | economi increas recent year faster |
| economi | asset valu mani emerg market | economi | increas recent year faster pace |
| economi | year faster pace even advanc | economi | creat obvious risk avoid damag |
| polici | avoid damag undershoot justif strong | polici | respons shortcircuit advers feedback loop |
| polici | avoid deeper downturn may requir | polici | action impact under market direct |
| market | requir polici action impact under | market | direct system reach global crisi |
| global | under market direct system reach | global | crisi underscor need global action |
| need | system reach global crisi underscor | need | global action comprehens coher basi |
| global | reach global crisi underscor need | global | action comprehens coher basi financi |
| market | action comprehens coher basi financi | market | notwithstand bold polici action announc |
| polici | basi financi market notwithstand bold | polici | action announc thus far condit |
| market | cds spread suggest tentat improv | market | sentiment solvenc concern eas light |
| market | fund recapit financi institut money | market | fund continu face larg redempt |
| economi | financi crisi spread rapid emerg | economi | effect move swift talk decoupl |
| economi | move swift talk decoupl situat | economi | substanti risk discuss latest global |
| global | economi substanti risk discuss latest | global | financi stabil report publish earlier |
| global | chart particular intensifi financi deleverag | global | reach includ emerg economi intens |
| economi | deleverag global reach includ emerg | economi | intens capit account pressur turn |
| growth | pressur turn could serious harm | growth | economi emerg equiti market alreadi |
| economi | turn could serious harm growth | economi | emerg equiti market alreadi absorb |
| market | harm growth economi emerg equiti | market | alreadi absorb greater loss matur |
| market | alreadi absorb greater loss matur | market | reflect investor flight safeti face |
| growth | uncertainti risk avers anticip signific | growth | slowdown emerg equiti market declin |
| market | signific growth slowdown emerg equiti | market | declin around percent yeartod moreov |
| market | taxpay oversightcould curtail lend foreign | market | bank firm emerg economi reli |
| economi | foreign market bank firm emerg | economi | reli global wholesal fund market |
| global | bank firm emerg economi reli | global | wholesal fund market appear face |
| market | economi reli global wholesal fund | market | appear face signific distress rollov |
| financ | pressur unwind posit result tighter | financ | constraint redempt undermin market liquid |
| market | tighter financ constraint redempt undermin | market | liquid asset price broad current |
| global | asset price broad current strain | global | financi condit risk sudden interrupt |
| countri | revers capit flow risen appreci | countri | larg extern financ need high |
| financ | risen appreci countri larg extern | financ | need high lever financi system |
| need | appreci countri larg extern financ | need | high lever financi system face |
| market | face intens strain credit equiti | market | underscor limit room maneuv deal |
| econom | room maneuv deal spillov financi | econom | stress advanc economi especi vulner |
| economi | spillov financi econom stress advanc | economi | especi vulner regard countri household |
| countri | advanc economi especi vulner regard | countri | household contract larg foreign currenc |
| market | imf current epidem spread financi | market | strain reflect challeng face mani |
| need | transform liquid shock solvenc crisi | need | remedi action includ help minim |
| global | clear main hindsight simpli put | global | financi system built much risk |
| polici | step right direct immedi imper | polici | restor confid financi system imf |
| economi | balanc sheet recapit bank advanc | economi | bold financi measur announc earlier |
| need | financi measur announc earlier month | need | implement effect quick o bank |
| polici | distress asset financi sector broad | polici | need decis contain financi disrupt |
| need | asset financi sector broad polici | need | decis contain financi disrupt possibl |
| growth | decis contain financi disrupt possibl | growth | implic includ relianc tradit macroeconom |
| global | includ relianc tradit macroeconom tool | global | slowdown undermin commod price scope |
| polici | undermin commod price scope monetari | polici | support econom activ increas particular |
| econom | price scope monetari polici support | econom | activ increas particular advanc economi |
| economi | econom activ increas particular advanc | economi | recent deal contain inflat risk |
| need | time support aggreg demand may | need | given loss privat sector confid |
| polici | given loss privat sector confid | polici | requir may also requir greater |
| also | sector confid polici requir may | also | requir greater multilater effort inclus |
| economi | greater multilater effort inclus emerg | economi | polici measur adopt advanc economi |
| polici | multilater effort inclus emerg economi | polici | measur adopt advanc economi may |
| economi | economi polici measur adopt advanc | economi | may impart unintend effect notabl |
| economi | notabl sinc financi institut emerg | economi | general cover umbrella liquid oper |
| economi | cover umbrella liquid oper advanc | economi | also domest bank emerg economi |
| also | umbrella liquid oper advanc economi | also | domest bank emerg economi necessarili |
| economi | economi also domest bank emerg | economi | necessarili level protect deposit guarante |
| need | put place program even resourc | need | creat credibl polici natur may |
| polici | even resourc need creat credibl | polici | natur may avail emerg economi |
| economi | polici natur may avail emerg | economi | polici action deal sudden interrupt |
| polici | natur may avail emerg economi | polici | action deal sudden interrupt revers |
| need | sudden interrupt revers capit flow | need | cours mani case improv monetari |
| polici | case improv monetari fiscal structur | polici | recent year repres import protect |
| need | complet protect o liquid support | need | includ corpor sector countri fund |
| countri | support need includ corpor sector | countri | fund market shrink countri larg |
| market | includ corpor sector countri fund | market | shrink countri larg reserv buffer |
| countri | sector countri fund market shrink | countri | larg reserv buffer could provid |
| need | could provid foreign currenc liquid | need | acut dollar shortag affect firm |
| economi | firm abil oper o emerg | economi | may also need consid tradit |
| also | oper o emerg economi may | also | need consid tradit macroeconom polici |
| need | o emerg economi may also | need | consid tradit macroeconom polici deal |
| polici | also need consid tradit macroeconom | polici | deal shortfal financ growth fund |
| financ | tradit macroeconom polici deal shortfal | financ | growth fund part move quick |
| growth | macroeconom polici deal shortfal financ | growth | fund part move quick play |
| economi | play activ role help emerg | economi | batter financi crisi sharp slowdown |
| economi | financi crisi sharp slowdown advanc | economi | fund stand readi disburs billion |
| countri | borrow arrang group imf member | countri | know current program negoti sever |
| econom | negoti sever member sinc halt | econom | financi crise requir time measur |
| countri | facil address problem fundament sound | countri | temporarili expos fund pressur look |
| need | past immedi challeng concert effort | need | build resili effici financi system |
| need | two broad area mention alreadi | need | strengthen global earli warn system |
| global | area mention alreadi need strengthen | global | earli warn system order mitig |
| global | risk conclus uncertain time risk | global | economi larg take comprehens collabor |
| economi | conclus uncertain time risk global | economi | larg take comprehens collabor approach |
| polici | collabor approach globallyacross full rang | polici | instrument dispos confid worst avoid |
| need | emerg hard work lie us | need | part |
| market | public overoptim follow falter confid | market | mania follow panic mani peopl |
| econom | follow panic mani peopl fear | econom | consequ could import share view |
| market | past learn experi tool manag | market | economi use confid emerg crisi |
| economi | learn experi tool manag market | economi | use confid emerg crisi economi |
| economi | economi use confid emerg crisi | economi | societi intact succeed must three |
| market | thing must act quick stock | market | crash march new presid took |
| economi | financi institut guarante deposit emerg | economi | ampl reserv cushion use provid |
| need | use provid foreign exchang bank | need | must act comprehens imagin countri |
| countri | need must act comprehens imagin | countri | act piecem way hamstrung oldfashion |
| market | approach comprehens attack aspect financi | market | problem liquid bad asset shortag |
| also | one worst consequ great depress | also | one caus european countri argu |
| countri | depress also one caus european | countri | argu instead find solut common |
| countri | act cooper weekend imfc repres | countri | endors action plan formul friday |
| countri | institut plan outlin specif mechan | countri | use support system jumpstart credit |
| also | jumpstart credit restor confid imfc | also | ask fund take special respons |
| need | begin right restor confid stabil | need | govern intervent financi market clear |
| market | stabil need govern intervent financi | market | clear comprehens cooper countri suggest |
| countri | financi market clear comprehens cooper | countri | suggest recent week action govern |
| need | simpl principl first govern action | need | clear object effect oversight public |
| need | alway case second nation plan | need | comprehens must contain guarante depositor |
| market | depositor assur creditor suffici ensur | market | function must deal distress asset |
| global | even better final action coordin | global | level region level appropri done |
| market | good enough weekend collaps confid | market | almost match collaps confid countri |
| countri | market almost match collaps confid | countri | saw bad trend toward unilater |
| market | plan envisag action major financi | market | issu endors plan entir intern |
| need | zone still long way go | need | polici must talk polici consid |
| polici | still long way go need | polici | must talk polici consid effect |
| polici | go need polici must talk | polici | consid effect action partner weekend |
| global | begin long effort let turn | global | economi action financi market essenti |
| economi | long effort let turn global | economi | action financi market essenti suffici |
| market | turn global economi action financi | market | essenti suffici also need deploy |
| also | action financi market essenti suffici | also | need deploy instrument modern macroeconom |
| need | financi market essenti suffici also | need | deploy instrument modern macroeconom polici |
| polici | need deploy instrument modern macroeconom | polici | limit damag real economi advanc |
| economi | macroeconom polici limit damag real | economi | advanc economi mean use fiscal |
| economi | limit damag real economi advanc | economi | mean use fiscal polici obvious |
| polici | advanc economi mean use fiscal | polici | obvious use fiscal polici precis |
| polici | fiscal polici obvious use fiscal | polici | precis eas pressur greatest financi |
| also | financi hous sector govern afford | also | readi undertak broader fiscal stimulus |
| also | readi undertak broader fiscal stimulus | also | scope use monetari polici support |
| polici | stimulus also scope use monetari | polici | support growth build collabor eas |
| growth | scope use monetari polici support | growth | build collabor eas seen week |
| economi | collabor eas seen week emerg | economi | differ degre freedom act afford |
| financ | freedom act afford draw reserv | financ | temporari sudden shortfal capit flow |
| need | sudden shortfal capit flow other | need | rais polici interest rate line |
| polici | capit flow other need rais | polici | interest rate line rise risk |
| need | outflow bolster confid currenc may | need | help possibl substanti help imfc |
| need | fund offer financi support member | need | heed call fact activ emerg |
| countri | respons prioriti plenti liquid develop | countri | need help face reduc export |
| need | prioriti plenti liquid develop countri | need | help face reduc export demand |
| financ | assist financi support fund increas | financ | mani countri also chang exogen |
| countri | support fund increas financ mani | countri | also chang exogen shock facil |
| also | fund increas financ mani countri | also | chang exogen shock facil provid |
| also | condit flexibl rest world must | also | help understand budget advanc countri |
| countri | also help understand budget advanc | countri | strain financi crisi import donor |
| need | process draw lesson crisi consid | need | chang financi sector financi architectur |
| market | let take turn crisi financi | market | result three failur regulatori supervisori |
| economi | failur regulatori supervisori failur advanc | economi | failur risk manag privat financi |
| market | manag privat financi institut failur | market | disciplin mechan prevent recurr failur |
| global | togeth differ actor discuss risk | global | stabil polici respons second machineri |
| polici | actor discuss risk global stabil | polici | respons second machineri follow bilater |
| also | fsap let talk financi architectur | also | seen failur prevent recurr see |
| need | seen failur prevent recurr see | need | enhanc effect legitimaci system enhanc |
| need | effect legitimaci system enhanc effect | need | better coordin fewer overlap intern |
| countri | use enhanc legitimaci could add | countri | exist group think need go |
| need | add countri exist group think | need | go need greater relianc multilater |
| need | exist group think need go | need | greater relianc multilater institut near |
| countri | multilater institut near univers membership | countri | affect crise voic resolv end |
| also | reform continu produc result time | also | undertak broader govern reform work |
| countri | place system charg work base | countri | incom level reach agreement new |
| financ | new incom model put fund | financ | sustain foot year come mani |
| also | stay flexibl dedic shown transit | also | want thank manag colleagu execut |
| financ | cooper fund part much depend | financ | minist central bank governor repres |
| countri | minist central bank governor repres | countri | take action need restor confid |
| need | governor repres countri take action | need | restor confid stabil meet istanbul |
| market | face serious situat week financi | market | global economi hard choic make |
| global | serious situat week financi market | global | economi hard choic make must |
| economi | situat week financi market global | economi | hard choic make must start |
| need | use bulk time today talk | need | done contain crisi implic global |
| global | need done contain crisi implic | global | economi apolog advanc seem spoil |
| economi | done contain crisi implic global | economi | apolog advanc seem spoil birthday |
| need | broader gather annual meet discuss | need | think solv problem see financi |
| market | think solv problem see financi | market | global economi long act quick |
| global | solv problem see financi market | global | economi long act quick forc |
| economi | problem see financi market global | economi | long act quick forc cooper |
| market | imf gave assess happen financi | market | global economi let talk first |
| global | gave assess happen financi market | global | economi let talk first outlook |
| economi | assess happen financi market global | economi | let talk first outlook financi |
| market | let talk first outlook financi | market | action must take know heart |
| market | take know heart problem financi | market | action plan financi marketsfirst number |
| market | signific loss system problem financi | market | go beyond cash loss face |
| polici | sector cannot restor confid macroeconom | polici | measur govern restor confid piecem |
| market | restor confid piecem measur financi | market | restor confid restor confid govern |
| countri | govern intervent clear comprehens cooper | countri | action govern simpl principl principl |
| need | simpl principl principl govern action | need | clear object effect oversight public |
| need | use possibl principl nation plan | need | comprehens must contain guarante depositor |
| market | depositor assur creditor suffici ensur | market | function must deal distress asset |
| global | bank recapit principl action coordin | global | level region level appropri exampl |
| also | mean retail bank deposit probabl | also | interbank money market deposit activ |
| market | deposit probabl also interbank money | market | deposit activ may restart key |
| market | deposit activ may restart key | market | cours step temporari includ safeguard |
| need | deposit rate offer second govern | need | take troubl asset forc recognit |
| need | today environ therefor support govern | need | one strategi work past crise |
| market | capit subscript govern capit impos | market | test use public fund fourth |
| market | urgent past week collaps confid | market | almost match collaps confid countri |
| countri | market almost match collaps confid | countri | saw bad trend toward unilater |
| need | coordin move major central bank | need | coordin financi institut span mani |
| countri | coordin financi institut span mani | countri | credibl rescu plan must consist |
| countri | across mani jurisdict urg european | countri | especi work togeth domest solut |
| financ | like one know serv minist | financ | countri difficult european union reach |
| countri | one know serv minist financ | countri | difficult european union reach consensus |
| global | coordin action price success european | global | level weekend meet opportun financ |
| financ | global level weekend meet opportun | financ | minist talk bring need cooper |
| need | opportun financ minist talk bring | need | cooper kind cooper commend lone |
| global | condemn financi sector turmoil affect | global | economi one reason action import |
| economi | financi sector turmoil affect global | economi | one reason action import turmoil |
| market | reason action import turmoil financi | market | serious effect global economi even |
| global | turmoil financi market serious effect | global | economi even strong coordin action |
| economi | financi market serious effect global | economi | even strong coordin action along |
| growth | seem optimist best forecast world | growth | around percent number may sound |
| countri | may sound bad project advanc | countri | wors close zero least middl |
| growth | slow recoveri rest year world | growth | driven increas growth emerg develop |
| growth | year world growth driven increas | growth | emerg develop countri grow lower |
| countri | driven increas growth emerg develop | countri | grow lower rate recent past |
| market | recent past percent percent financi | market | crisi also go longerterm effect |
| also | percent percent financi market crisi | also | go longerterm effect unit statesin |
| need | shortterm privat save rise may | need | govern support economi option fiscal |
| economi | rise may need govern support | economi | option fiscal polici constrain larg |
| polici | govern support economi option fiscal | polici | constrain larg addit feder debt |
| econom | reform entitl program europein term | econom | impact western europ hit least |
| countri | mark may appreci much euro | countri | polit busi forc would line |
| market | anticip possibl exchang rate realign | market | particip would withdrawn capit countri |
| countri | market particip would withdrawn capit | countri | risk realign drive interest rate |
| financ | spread potenti caus current account | financ | problem higher interest rate would |
| market | interest rate would undermin hous | market | choke growth past exchang rate |
| growth | would undermin hous market choke | growth | past exchang rate realign would |
| need | exchang rate realign would like | need | restor order exchang rate realign |
| countri | turn would caus inflationari pressur | countri | devalu question euro contribut stabil |
| countri | question euro contribut stabil member | countri | crisi member becom essenti element |
| global | crisi member becom essenti element | global | monetari system howev european countri |
| countri | global monetari system howev european | countri | still face major challeng deal |
| polici | major challeng deal current crisi | polici | option constrain mani european countri |
| countri | polici option constrain mani european | countri | limit scope fiscal stimulus alreadi |
| polici | debt age popul leeway monetari | polici | inde ecb taken appropri action |
| global | action week emerg economiesin almost | global | growth come emerg economi effect |
| growth | week emerg economiesin almost global | growth | come emerg economi effect turbul |
| economi | almost global growth come emerg | economi | effect turbul also begin mount |
| also | come emerg economi effect turbul | also | begin mount financi market economi |
| market | turbul also begin mount financi | market | economi emerg economi general much |
| economi | also begin mount financi market | economi | emerg economi general much better |
| economi | mount financi market economi emerg | economi | general much better posit past |
| countri | bank howev still larg group | countri | expos global financi condit due |
| global | still larg group countri expos | global | financi condit due high extern |
| financ | financi condit due high extern | financ | need case bank system fragil |
| need | condit due high extern financ | need | case bank system fragil polici |
| polici | need case bank system fragil | polici | respons need tailor circumst individu |
| need | bank system fragil polici respons | need | tailor circumst individu countri countri |
| countri | respons need tailor circumst individu | countri | countri high reserv level could |
| countri | need tailor circumst individu countri | countri | high reserv level could room |
| financ | reserv level could room draw | financ | temporari sudden shortfal capit flow |
| countri | effect bank corpor associ depreci | countri | though need rais polici interest |
| need | corpor associ depreci countri though | need | rais polici interest rate line |
| polici | depreci countri though need rais | polici | interest rate line rise risk |
| economi | confid currenc final possibl emerg | economi | need help possibl substanti help |
| need | currenc final possibl emerg economi | need | help possibl substanti help part |
| countri | help part fund support member | countri | advic need readi support financ |
| need | fund support member countri advic | need | readi support financ activ emerg |
| financ | countri advic need readi support | financ | activ emerg procedur respond quick |
| need | prioriti plenti liquid support member | need | financ conclud let talk two |
| financ | plenti liquid support member need | financ | conclud let talk two issu |
| economi | crisisth first issu crisi world | economi | affect mani develop countri high |
| countri | world economi affect mani develop | countri | high food fuel price continu |
| countri | continu put enorm pressur develop | countri | price eas recent month still |
| countri | level onset recent price surg | countri | realli hurt uncomfort weak reserv |
| also | weak reserv posit nation budget | also | pressur inflat rise lowincom countri |
| countri | also pressur inflat rise lowincom | countri | averag inflat rate expect exceed |
| countri | greater inequ sometim unrest develop | countri | help exampl shift budget support |
| countri | protect poor costeffect manner develop | countri | also need help other fund |
| also | poor costeffect manner develop countri | also | need help other fund part |
| need | costeffect manner develop countri also | need | help other fund part togeth |
| also | bank advic technic assist fund | also | increas financi support countri chang |
| countri | fund also increas financi support | countri | chang exogen shock facil provid |
| also | focus condit flexibl donor must | also | help one complic budget advanc |
| countri | help one complic budget advanc | countri | strain financi crisi import respond |
| need | even still midst financi crisi | need | think lesson draw lesson regul |
| economi | failur regulatori supervisori failur advanc | economi | failur risk manag privat financi |
| also | risk manag privat financi institut | also | failur market disciplin mechan need |
| market | privat financi institut also failur | market | disciplin mechan need go let |
| need | also failur market disciplin mechan | need | go let emphas point need |
| need | need go let emphas point | need | flexibl less procycl basl ii |
| need | limit conflict interest accept supervis | need | close loophol fill inform gap |
| also | equiti compani mechan increas leverag | also | need give thought regul hedg |
| need | compani mechan increas leverag also | need | give thought regul hedg fund |
| global | fund bring togeth differ actor | global | forum discuss risk global stabil |
| global | actor global forum discuss risk | global | stabil polici respons second fund |
| polici | forum discuss risk global stabil | polici | respons second fund machineri follow |
| need | india brazil perhap other think | need | accompani greater relianc multilater institut |
| countri | multilater institut near univers membership | countri | want particip intern system left |
| need | institut repres well univers especi | need | see increas role respons emerg |
| market | see increas role respons emerg | market | reform fund quota broader govern |
| need | greater simplic follow achiev simplic | need | better coordin intern organ sometim |
| need | coordin intern organ sometim seem | need | scorecard keep track player develop |
| also | world food program nation administr | also | need fewer overlap organ requir |
| need | food program nation administr also | need | fewer overlap organ requir better |
| also | role differ multilater institut think | also | need better follow agreement communiquà |
| need | differ multilater institut think also | need | better follow agreement communiquà © |
| financ | passion quick forgotten chang sinc | financ | minist one way follow better |
| also | believ better time serious challeng | also | time think imagin act bold |
| market | except uncertainti profound chang financi | market | m sure nabe member remind |
| global | financi turmoil current key challeng | global | economi cours wide recogn financi |
| economi | turmoil current key challeng global | economi | cours wide recogn financi turmoil |
| global | dramat increas degre uncertainti regard | global | econom outlook includ uncertainti potenti |
| econom | increas degre uncertainti regard global | econom | outlook includ uncertainti potenti degre |
| growth | process financi sector deleverag credit | growth | slow credit gain real econom |
| econom | growth slow credit gain real | econom | growth recogn heighten uncertainti latest |
| growth | slow credit gain real econom | growth | recogn heighten uncertainti latest global |
| global | growth recogn heighten uncertainti latest | global | forecast anticip weaken global economi |
| global | latest global forecast anticip weaken | global | economi come month time also |
| economi | global forecast anticip weaken global | economi | come month time also expect |
| also | global economi come month time | also | expect gradual growth recoveri begin |
| growth | month time also expect gradual | growth | recoveri begin next year second |
| polici | second half assum appropri decis | polici | respons current challeng also forthcom |
| also | decis polici respons current challeng | also | forthcom would like today share |
| polici | turmoil addit would like reflect | polici | option current face us unit |
| market | unit state remain epicent financi | market | turmoil origin summer continu reverber |
| polici | real sector howev coher decis | polici | respons would help slow selffulfil |
| market | spiral confid restor effici work | market | therebi reduc risk deep protract |
| global | therebi reduc risk deep protract | global | downturn global growth like slow |
| global | risk deep protract global downturn | global | growth like slow gradual recoveri |
| growth | deep protract global downturn global | growth | like slow gradual recoveri get |
| growth | deceler expect vari across region | growth | advanc economi slow mark rate |
| economi | vari across region growth advanc | economi | slow mark rate well potenti |
| economi | rate well potenti unit state | economi | resili anticip first half part |
| growth | howev drag residenti invest gdp | growth | like continu time loss household |
| econom | quarter turn later next year | econom | growth western europ slow sharpli |
| growth | turn later next year econom | growth | western europ slow sharpli busi |
| global | reflect tighter credit condit weaker | global | growth negat impact stronger euro |
| growth | tighter credit condit weaker global | growth | negat impact stronger euro export |
| market | strain slow invest declin hous | market | increas act drag domest demand |
| countri | drag domest demand sever european | countri | includ spain unit kingdom ireland |
| economi | spain unit kingdom ireland japan | economi | also slow substanti second quarter |
| also | unit kingdom ireland japan economi | also | slow substanti second quarter proxi |
| market | gdp project grow potenti emerg | market | economi forefront turmoil signific affect |
| economi | project grow potenti emerg market | economi | forefront turmoil signific affect latest |
| economi | bout financi disrupt momentum emerg | economi | moder although growth remain robust |
| growth | momentum emerg economi moder although | growth | remain robust nonetheless annual growth |
| growth | growth remain robust nonetheless annual | growth | economi deceler  ¼ percent |
| economi | remain robust nonetheless annual growth | economi | deceler  ¼ percent annual |
| growth | quarter larg reflect slower export | growth | result weaker demand advanc economi |
| economi | growth result weaker demand advanc | economi | slowdown expect next quarter sign |
| countri | next quarter sign deceler pronounc | countri | emerg asia outsid china tight |
| global | asia outsid china tight link | global | manufactur cycl includ philippin thailand |
| also | lesser extent india headwind activ | also | intensifi emerg europ latin america |
| economi | know financi institut especi matur | economi | make signific adjust past six |
| need | signific adjust past six month | need | substanti amount capit rais bank |
| market | compens impair securit interbank fund | market | difficulti bank sold liquid asset |
| market | prenegoti credit line confid securit | market | remain impair regul credit rate |
| market | impair regul credit rate agenc | market | reevalu bank restructur cope risk |
| polici | highspe restructur term institut instrument | polici | maker tri ensur market function |
| market | instrument polici maker tri ensur | market | function time bolster confid recogn |
| market | problemat bank sell asset illiquid | market | condit may induc loss deplet |
| polici | provid advers feedback loop thus | polici | maker mani economi implement polici |
| economi | loop thus polici maker mani | economi | implement polici program allow remov |
| polici | polici maker mani economi implement | polici | program allow remov distress asset |
| market | moreov bar set higher regul | market | particip seem agre higher level |
| growth | deleverag process like keep credit | growth | pressur time repres drag econom |
| econom | growth pressur time repres drag | econom | recoveri recent credit growth held |
| growth | drag econom recoveri recent credit | growth | held bank balanc sheet continu |
| growth | deleverag like take toll credit | growth | privat sector come month household |
| growth | sector come month household credit | growth | alreadi slow signific growth corpor |
| growth | credit growth alreadi slow signific | growth | corpor lend like abat exist |
| growth | drawn europ form household credit | growth | also slow main mortgag ireland |
| also | europ form household credit growth | also | slow main mortgag ireland unit |
| growth | ireland unit kingdom corpor loan | growth | begun slow earn prospect dim |
| econom | earn prospect dim tandem slow | econom | growth contain deterior credit qualiti |
| growth | prospect dim tandem slow econom | growth | contain deterior credit qualiti remain |
| economi | residenti mortgag consum corpor loan | economi | slow pressur also emerg europ |
| also | corpor loan economi slow pressur | also | emerg europ hous price countri |
| countri | also emerg europ hous price | countri | declin econom growth falter lend |
| econom | europ hous price countri declin | econom | growth falter lend condit tighten |
| growth | hous price countri declin econom | growth | falter lend condit tighten resili |
| market | lend condit tighten resili emerg | market | financi turmoil matur market also |
| market | emerg market financi turmoil matur | market | also test although emerg market |
| also | market financi turmoil matur market | also | test although emerg market fair |
| market | market also test although emerg | market | fair resili global credit turmoil |
| global | although emerg market fair resili | global | credit turmoil dramat reduct investor |
| market | capit inflow exert pressur local | market | deleverag global financi institut reduc |
| global | exert pressur local market deleverag | global | financi institut reduc avail extern |
| financ | financi institut reduc avail extern | financ | rais cost time polici maker |
| polici | extern financ rais cost time | polici | maker mani emerg economi cope |
| economi | time polici maker mani emerg | economi | cope pass inflat risk back |
| financ | domest bank system reli crossbord | financ | domest bank central eastern europ |
| growth | vi intern lender mainten credit | growth | hing crucial crossbord lend foreign |
| market | signific fund pressur remain vulner | market | sentiment sinc obtain substanti part |
| market | substanti part fund intern wholesal | market | continu revers capit flow emerg |
| market | continu revers capit flow emerg | market | pose challeng countri larg extern |
| countri | flow emerg market pose challeng | countri | larg extern deficit lower level |
| market | pension fund scale back emerg | market | exposur respons rise emerg market |
| market | market exposur respons rise emerg | market | vulner flow emerg equiti market |
| market | market vulner flow emerg equiti | market | slow revers sinc begin year |
| market | year amid investor concern emerg | market | inflat exposur slow global busi |
| global | emerg market inflat exposur slow | global | busi cycl sum strain fragil |
| global | financi crisi remain serious deterior | global | econom outlook deepen hous downturn |
| econom | crisi remain serious deterior global | econom | outlook deepen hous downturn tighter |
| polici | condit heighten inflat risk narrow | polici | option ad financi stress matur |
| economi | option ad financi stress matur | economi | cost credit corpor household risen |
| econom | credit corpor household risen hurt | econom | activ credit qualiti recent develop |
| economi | qualiti recent develop demonstr emerg | economi | mean immun setback respons specif |
| global | time locat howev given increas | global | linkag hard envis global econom |
| global | increas global linkag hard envis | global | econom diverg sustain basi lower |
| econom | global linkag hard envis global | econom | diverg sustain basi lower global |
| global | econom diverg sustain basi lower | global | growth forecast reflect realiti preemin |
| growth | diverg sustain basi lower global | growth | forecast reflect realiti preemin polici |
| polici | growth forecast reflect realiti preemin | polici | challeng face mitig intensif negat |
| economi | negat feedback loop financi system | economi | near term establish clear road |
| global | clear road recoveri financi system | global | economi policymak recent taken sever |
| economi | road recoveri financi system global | economi | policymak recent taken sever signific |
| market | feedback loop stabil confid financi | market | recent includ unit state passag |
| econom | includ unit state passag emerg | econom | stabil act general expans deposit |
| countri | scheme unit state mani european | countri | mani countri also chosen either |
| countri | state mani european countri mani | countri | also chosen either lend direct |
| also | mani european countri mani countri | also | chosen either lend direct inject |
| market | step yet succeed fulli bolster | market | sentiment allow order deleverag process |
| also | process experi prior financi crise | also | suggest intervent aim lower futur |
| need | remain resolv ultim us govern | need | determin gses status role hous |
| market | determin gses status role hous | market | issu address treasuri author shortterm |
| econom | capit inject contempl new emerg | econom | stabil act implement goal help |
| market | sector support oper impact capit | market | particip risk percept sovereign borrow |
| global | particip risk percept sovereign borrow | global | market turmoil also expos lack |
| market | risk percept sovereign borrow global | market | turmoil also expos lack clariti |
| also | sovereign borrow global market turmoil | also | expos lack clariti respect role |
| market | offici respons object help rebuild | market | confid probabl awar topic address |
| market | world failur even among sophist | market | particip valu measur risk under |
| also | measur risk under structur product | also | highlight need supervisor account bodi |
| need | under structur product also highlight | need | supervisor account bodi market particip |
| market | highlight need supervisor account bodi | market | particip search better measur disclosur |
| market | firm across border order strengthen | market | disciplin regard desir differ regulatori |
| also | perhap singl regul recent event | also | highlight dilemma capit adequaci buildup |
| market | capit requir risk mani observ | market | particip convinc applic basel ii |
| need | manag exacerb current crisi highlight | need | improv bank secur firm liquid |
| financ | limit relianc central bank term | financ | backstop provid liquid regul recogn |
| need | backstop provid liquid regul recogn | need | rigor standard firm liquid plan |
| market | especi given nowevid potenti major | market | remain illiquid much longer period |
| also | complianc close past recent turmoil | also | underscor need bank signific crossbord |
| need | past recent turmoil also underscor | need | bank signific crossbord activ reassess |
| countri | fund addit nation author particular | countri | larg bank system understand keen |
| need | bank system understand keen previous | need | preexist plan deal institut strain |
| need | strain involv larg crossbord fund | need | feder reserv term auction facil |
| need | introduct recent facil nonetheless thought | need | given central bank supervisor best |
| need | procedur futur cooper turmoil highlight | need | work crossbord cooper conting plan |
| need | within bankruptci law insolv regim | need | reli inform informationshar adhoc mechan |
| also | coordin deposit insur crossbord institut | also | need clarifi recent event highlight |
| need | deposit insur crossbord institut also | need | clarifi recent event highlight confid |
| need | review nation deposit insur scheme | need | strengthen scope fund insur appropri |
| need | import lesson recent financi turmoil | need | strengthen multilater effort increas integr |
| economi | effort increas integr financi system | economi | increas intertwin multilater effort strengthen |
| market | financi innov share inform promot | market | disciplin crossbord cooper conting plan |
| also | plan crisi manag remain prioriti | also | note recent financi turmoil genesi |
| global | financi turmoil genesi seri protract | global | imbal underscor imfsponsor multilater consult |
| global | imbal underscor imfsponsor multilater consult | global | imbal conclud messag straightforward global |
| global | global imbal conclud messag straightforward | global | challeng call global solut system |
| global | messag straightforward global challeng call | global | solut system issu need system |
| need | call global solut system issu | need | system solut nearterm danger selfevid |
| market | world transfix crisi u financi | market | certain everi reason event wit |
| global | reason event wit deep implic | global | econom stabil must lose sight |
| econom | event wit deep implic global | econom | stabil must lose sight crisi |
| global | must lose sight crisi face | global | economi m go talk today |
| economi | lose sight crisi face global | economi | m go talk today food |
| also | m go talk today food | also | fuel mani countri face problem |
| countri | today food also fuel mani | countri | face problem rise price food |
| global | fuel june imf gave assess | global | impact food fuel price increas |
| countri | surg situat remain difficult mani | countri | second addit aid countri promis |
| countri | mani countri second addit aid | countri | promis often case fail materi |
| countri | often case fail materi mani | countri | mani peopl still wait let |
| countri | highlight fact net food fuelimport | countri | suffer increas price realli hurt |
| countri | impact food fuel increas develop | countri | far diminish continu mount sinc |
| countri | june result project low middleincom | countri | remain risk year mean uncomfort |
| countri | reserv posit refer slide show | countri | risk order magnitud project net |
| countri | magnitud project net fuelimport lowincom | countri | face increas fuel bill year |
| also | price increas alon nation budget | also | pressur part mani countri respond |
| countri | budget also pressur part mani | countri | respond rise price reduc tax |
| countri | fuel subsidi reduc food tax | countri | combin fiscal cost rise fuel |
| countri | concern inflat acceler particular lowincom | countri | averag rate increas almost percentag |
| need | food poor well world must | need | help fight inflat help poor |
| countri | fight inflat help poor help | countri | find sustain solut problem one |
| countri | support easi govern often lowincom | countri | administr capac target support shift |
| need | bettertarget social safeti net program | need | protect poor costeffect manner donor |
| also | poor costeffect manner donor must | also | part money matter solv problem |
| financ | real incom poverti well help | financ | agricultur sector program let finish |
| polici | fund help three way help | polici | advic exampl hondura advis author |
| countri | fact far augment lend affect | countri | refer slide imf financ countri |
| financ | affect countri refer slide imf | financ | countri also make easier countri |
| countri | countri refer slide imf financ | countri | also make easier countri get |
| also | refer slide imf financ countri | also | make easier countri get financi |
| countri | financ countri also make easier | countri | get financi support fund fortnight |
| polici | program use facil without cancel | polici | support instrument forgo emerg postconflict |
| countri | emerg postconflict assist forgotten develop | countri | world must forget whatev twist |
| market | twist turn come crisi financi | market | thank invit look forward discuss |
| market | sector develop began year ago | market | turmoil surround u subprim mortgag |
| market | announc sweep action head wider | market | disrupt includ plan purchas distress |
| market | scale well oneyear guaranti money | market | mutual fund final two largest |
| countri | financi giant reap huge profit | countri | also experienc serious turmoil financi |
| also | giant reap huge profit countri | also | experienc serious turmoil financi system |
| global | first macroeconom implic financi storm | global | economi combin major commod market |
| economi | macroeconom implic financi storm global | economi | combin major commod market shock |
| market | global economi combin major commod | market | shock past year hous downturn |
| economi | hous downturn emerg sever advanc | economi | consensus today global economi set |
| global | sever advanc economi consensus today | global | economi set weaken alreadi growth |
| economi | advanc economi consensus today global | economi | set weaken alreadi growth slow |
| growth | global economi set weaken alreadi | growth | slow advanc emerg economi look |
| economi | alreadi growth slow advanc emerg | economi | look forward key issu whether |
| polici | whether downturn deep protract second | polici | help navig storm chart cours |
| econom | would restor financi system support | econom | activ keep inflat bay challeng |
| polici | daunt recent develop suggest mani | polici | action taken previous event suffici |
| growth | challeng alter core expect gradual | growth | recoveri particular global recess avoid |
| global | expect gradual growth recoveri particular | global | recess avoid provid coher effect |
| polici | recess avoid provid coher effect | polici | respons implement around world policymak |
| economi | world policymak first prioriti affect | economi | must continu restor market function |
| market | affect economi must continu restor | market | function forestal spiral crisi confid |
| market | spiral crisi confid among financi | market | particip unpreced polici respons past |
| polici | among financi market particip unpreced | polici | respons past day princip exclus |
| global | justifi modest reduct baselin forecast | global | growth prevent gradual recoveri begin |
| growth | modest reduct baselin forecast global | growth | prevent gradual recoveri begin financi |
| growth | financi sector strain weigh credit | growth | notabl dampen recoveri pace time |
| polici | eas increas scope futur monetari | polici | move sever advanc economi moreov |
| economi | monetari polici move sever advanc | economi | moreov nonfinanci corpor sector mani |
| economi | nonfinanci corpor sector mani key | economi | especi outsid automot hous sector |
| market | abl withstand period tight credit | market | present today summar view global |
| global | market present today summar view | global | outlook turn polici measur see |
| polici | summar view global outlook turn | polici | measur see necessari keep global |
| global | polici measur see necessari keep | global | economi advanc avoid risk either |
| economi | measur see necessari keep global | economi | advanc avoid risk either sharp |
| global | downturn meaning deterior inflat prospect | global | conjunctureadvanc emerg economi move direct |
| economi | inflat prospect global conjunctureadvanc emerg | economi | move direct growth slow everywher |
| growth | conjunctureadvanc emerg economi move direct | growth | slow everywher effect end earlier |
| growth | everywher effect end earlier hope | growth | decoupl mark slowdown global activ |
| global | hope growth decoupl mark slowdown | global | activ led major advanc economi |
| economi | global activ led major advanc | economi | either close recess experienc growth |
| growth | economi either close recess experienc | growth | far potenti unit state hous |
| market | potenti unit state hous credit | market | remain core slowdown growth slowdown |
| growth | credit market remain core slowdown | growth | slowdown spread europ japan amid |
| countri | term trade loss weaker partner | countri | growth impact strong currenc trade |
| growth | trade loss weaker partner countri | growth | impact strong currenc trade tighten |
| also | trade tighten credit condit activ | also | deceler emerg develop economi although |
| economi | activ also deceler emerg develop | economi | although growth region remain high |
| growth | deceler emerg develop economi although | growth | region remain high close trend |
| global | strength domest demand despit weaken | global | growth prospect inflat risen around |
| growth | domest demand despit weaken global | growth | prospect inflat risen around world |
| economi | world fastest pace sinc advanc | economi | headlin inflat acceler around  |
| economi | resurg gone much emerg develop | economi | although risk reced recent headlin |
| countri | percent aggreg midyear wide rang | countri | experienc doubledigit inflat under inflat |
| economi | inflat under inflat increas mark | economi | underscor less well anchor inflat |
| growth | expect capac pressur stem stillrapid | growth | balanc risk inflat growth shift |
| growth | stillrapid growth balanc risk inflat | growth | shift mani emerg economi issu |
| economi | inflat growth shift mani emerg | economi | issu come back later global |
| global | economi issu come back later | global | shocksthi overal state affair global |
| global | global shocksthi overal state affair | global | economi reflect confluenc three major |
| economi | shocksthi overal state affair global | economi | reflect confluenc three major shock |
| economi | affect unit state sever advanc | economi | financi crisi interplay shock made |
| polici | space countercycl monetari case budgetari | polici | oil price move high uncertainti |
| global | recent day increas sign weaker | global | growth indic demand respons higher |
| growth | day increas sign weaker global | growth | indic demand respons higher oil |
| econom | condit led price declin specul | econom | research find littl hard evid |
| market | shortterm oil price fluctuat nonetheless | market | supplydemand balanc remain tight strong |
| growth | balanc remain tight strong demand | growth | fuel acceler activ resourceintens emerg |
| economi | fuel acceler activ resourceintens emerg | economi | sluggish suppli respons declin inventori |
| market | valu hous declin ad financi | market | pressur despit collater effect consumpt |
| also | declin sharp drop residenti construct | also | underway economi outsid unit state |
| economi | drop residenti construct also underway | economi | outsid unit state hous market |
| market | economi outsid unit state hous | market | unit kingdom ireland spain turn |
| countri | respons policymak help arrang sale | countri | fifth largest bank moreov weaken |
| global | intensifi financi crisi domin nearterm | global | outlook notwithstand extraordinari action major |
| market | risk avers uncertainti strain termfund | market | increas reflect liquid serious credit |
| econom | wider credit deterior context slower | econom | growth particular area expos u |
| growth | credit deterior context slower econom | growth | particular area expos u mortgag |
| market | mortgag construct commerci real estat | market | result monetari financi condit tighten |
| financ | spread mortgag corpor debt rais | financ | cost progress made toward balanc |
| global | estim billion bank trillion entir | global | financi system downturn econom activ |
| econom | entir global financi system downturn | econom | activ fall share price rise |
| econom | sector like weigh pace credit | econom | growth consider period time emerg |
| growth | like weigh pace credit econom | growth | consider period time emerg economi |
| economi | growth consider period time emerg | economi | also increas affect financi crisi |
| also | consider period time emerg economi | also | increas affect financi crisi equiti |
| countri | declin sharpli bond spread widen | countri | larger extern current account deficit |
| market | current account deficit face greater | market | pressur credit equiti market underscor |
| market | greater market pressur credit equiti | market | underscor greater vulner spillov financi |
| econom | underscor greater vulner spillov financi | econom | stress advanc economi global outlooklook |
| economi | spillov financi econom stress advanc | economi | global outlooklook forward four princip |
| global | financi econom stress advanc economi | global | outlooklook forward four princip factor |
| economi | power real wage felt advanc | economi | well emerg economi commod import |
| economi | felt advanc economi well emerg | economi | commod import unit state oil |
| market | second unreason anticip u hous | market | find bottom cours afford measur |
| also | year stabil hous price would | also | help contain mortgagerel loss financi |
| growth | condit tighten unit state europ | growth | continu recent imf analysi suggest |
| econom | slowdown credit provis necessarili forestal | econom | recoveri unit state exampl nonfinanci |
| market | buffer less provis bank credit | market | financ timebound invest tax credit |
| financ | less provis bank credit market | financ | timebound invest tax credit also |
| also | financ timebound invest tax credit | also | encourag corpor capit expenditur come |
| growth | expect relat resili domest demand | growth | emerg economi would support global |
| economi | resili domest demand growth emerg | economi | would support global u growth |
| global | growth emerg economi would support | global | u growth financi crisi start |
| growth | economi would support global u | growth | financi crisi start spill emerg |
| market | financi crisi start spill emerg | market | strong intern momentum larg reserv |
| polici | momentum larg reserv general improv | polici | framework help countri buffer effect |
| countri | general improv polici framework help | countri | buffer effect extern financi shock |
| global | extern financi shock contribut signific | global | growth major emerg economi taken |
| growth | financi shock contribut signific global | growth | major emerg economi taken center |
| economi | signific global growth major emerg | economi | taken center stage recent year |
| also | taken center stage recent year | also | help reduc global imbal support |
| global | recent year also help reduc | global | imbal support u activ net |
| also | support u activ net export | also | given past depreci u dollar |
| economi | note lack adjust currenc sever | economi | inflex exchang rate regim larg |
| global | regim larg extern surplus support | global | adjust relat faster grow economi |
| economi | global adjust relat faster grow | economi | notabl china would benefit currenc |
| growth | appreci help foster balanc intern | growth | reliev domest price pressur time |
| global | domest price pressur time support | global | growth reduc imbal balanc anticip |
| growth | price pressur time support global | growth | reduc imbal balanc anticip slowdown |
| global | reduc imbal balanc anticip slowdown | global | growth gradual recoveri begin come |
| growth | imbal balanc anticip slowdown global | growth | gradual recoveri begin come year |
| global | come year nonetheless challeng face | global | economi financi system formid downsid |
| economi | year nonetheless challeng face global | economi | financi system formid downsid risk |
| polici | downsid risk outlook risen risk | polici | challengesan overarch risk revolv around |
| market | negat feedback loop continu financi | market | strain slow econom activ despit |
| econom | continu financi market strain slow | econom | activ despit aggress polici action |
| polici | slow econom activ despit aggress | polici | action aim allevi liquid strain |
| market | liquid strain prevent system event | market | remain sever stress beyond system |
| market | sever credit contract addit emerg | market | economi far relat insul financi |
| economi | credit contract addit emerg market | economi | far relat insul financi turmoil |
| econom | capit flow revers serious implic | econom | activ confluenc shock made policymak |
| polici | requir creativ solut across rang | polici | instrument key challeng restor financi |
| need | damag balanc sheet rebuild capit | need | element make polici challeng particular |
| polici | rebuild capit need element make | polici | challeng particular difficult mani market |
| market | polici challeng particular difficult mani | market | financi sector like becam outsiz |
| polici | institut save natur monetari budget | polici | critic meet polici challeng clear |
| polici | monetari budget polici critic meet | polici | challeng clear alreadi alon adequ |
| growth | adequ reach goal restor balanc | growth | use public sector balanc sheet |
| polici | liquid lie monetari author monetari | polici | play critic role help individu |
| economi | play critic role help individu | economi | find foot scope polici eas |
| polici | individu economi find foot scope | polici | eas ultim depend countri cyclic |
| countri | scope polici eas ultim depend | countri | cyclic posit advanc economi expect |
| economi | depend countri cyclic posit advanc | economi | expect slowdown activ help contain |
| growth | contain inflat given downsid risk | growth | ongo strain financi crisi advanc |
| economi | ongo strain financi crisi advanc | economi | outsid unit state could scope |
| market | author develop innov techniqu improv | market | liquid mani emerg economi shift |
| economi | improv market liquid mani emerg | economi | shift balanc risk inflat growth |
| growth | economi shift balanc risk inflat | growth | suggest greater polici scope countri |
| polici | risk inflat growth suggest greater | polici | scope countri moder inflat polici |
| countri | growth suggest greater polici scope | countri | moder inflat polici credibl take |
| polici | polici scope countri moder inflat | polici | credibl take wait see approach |
| countri | risk still remain serious sever | countri | growth remain strong given lag |
| growth | still remain serious sever countri | growth | remain strong given lag passthrough |
| countri | pipelin could feed secondround effect | countri | monetari polici still tighten bias |
| polici | feed secondround effect countri monetari | polici | still tighten bias fiscal polici |
| polici | polici still tighten bias fiscal | polici | provid second line defens play |
| economi | appropri provid support elsewher advanc | economi | mani emerg economi fiscal polici |
| economi | elsewher advanc economi mani emerg | economi | fiscal polici play support role |
| polici | economi mani emerg economi fiscal | polici | play support role monetari polici |
| polici | polici play support role monetari | polici | help bring inflat fiscal polici |
| polici | polici help bring inflat fiscal | polici | broad appropri across advanc economi |
| economi | polici broad appropri across advanc | economi | room maneuv limit given need |
| need | economi room maneuv limit given | need | mediumterm fiscal consolid mani countri |
| countri | need mediumterm fiscal consolid mani | countri | howev support financi sector inevit |
| polici | cost must taken account consid | polici | altern emerg economi inflat remain |
| economi | account consid polici altern emerg | economi | inflat remain problem fiscal polici |
| polici | economi inflat remain problem fiscal | polici | play support role restrain demand |
| growth | play support role restrain demand | growth | eas inflat pressur particular greater |
| growth | pressur particular greater restraint spend | growth | would help complement tighter monetari |
| polici | would help complement tighter monetari | polici | direct intervent third line defens |
| need | obvious direct fiscal intervent go | need | unit state elsewher order attain |
| market | provid crucial support u hous | market | bank system broader economi longer |
| economi | hous market bank system broader | economi | longer term deep restructur gses |
| market | restructur gses remain essenti restor | market | disciplin minim fiscal cost limit |
| polici | ultim conflict privat ownership public | polici | object within gses former busi |
| need | within gses former busi model | need | resolv challeng remov distress asset |
| economi | possibl similar challeng face advanc | economi | author come month earlier year |
| also | rather taxpay case current discuss | also | underscor import moral hazard issu |
| market | requir sound judgment exampl current | market | strain degre reflect solvenc risk |
| need | degre reflect solvenc risk underscor | need | systemat comprehens approach deal distress |
| global | far either direct realiti financi | global | mean polici intervent includ longerterm |
| polici | direct realiti financi global mean | polici | intervent includ longerterm issu regulatori |
| need | longerterm issu regulatori supervisori reform | need | global coher consist order effect |
| global | issu regulatori supervisori reform need | global | coher consist order effect doubt |
| need | order effect doubt new action | need | cope success nearterm challeng addit |
| market | power posit potenti effect financi | market | thank |
| market | prepar deliveryintroductionfinanci | market | develop past day dramat bankruptci |
| global | histor proport almost univers consensus | global | economi set weaken debat shift |
| economi | proport almost univers consensus global | economi | set weaken debat shift whether |
| economi | weaken debat shift whether emerg | economi | would decoupl advanc economi whether |
| economi | emerg economi would decoupl advanc | economi | whether slowdown shallow somewhat protract |
| global | straightforward storm weather without damag | global | recess attain outcom requir clear |
| polici | attain outcom requir clear coher | polici | respons public author institut around |
| market | around world togeth restor privat | market | function end investor spiral crisi |
| market | three shocksto commod price hous | market | financi sectorrepres sourc sharp strain |
| market | sharp strain sweep across financi | market | contour challeng shift howev energi |
| economi | inflat pressur begin reced advanc | economi | open prospect gradual restor consum |
| market | power least batter us hous | market | prospect emerg eventu bottom steep |
| economi | turmoil still underway mani advanc | economi | market prevent gradual recoveri econom |
| market | still underway mani advanc economi | market | prevent gradual recoveri econom activ |
| econom | economi market prevent gradual recoveri | econom | activ nonetheless turmoil one reason |
| growth | expect recoveri gradual time moder | growth | expect suffici power quick end |
| market | afflict financi institut mani key | market | furthermor danger creat financi crisi |
| growth | still repres princip risk nearterm | growth | prospect doubt abil flexibl market |
| market | growth prospect doubt abil flexibl | market | economi rebound advers shock moreov |
| economi | prospect doubt abil flexibl market | economi | rebound advers shock moreov nonfinanci |
| economi | nonfinanci corpor sector mani key | economi | particular unit state enter period |
| polici | low leverag nonetheless decis public | polici | respons current challeng also repres |
| also | public polici respons current challeng | also | repres necessari element resist potenti |
| polici | various macroeconom financi crisi manag | polici | avail policymak urg think unthink |
| polici | policymak urg think unthink unpreced | polici | respons past day princip exclus |
| economi | demonstr monetari fiscal author advanc | economi | will implement innov unorthodox measur |
| market | balanc sheet support specif institut | market | exercis howev essenti reactiv inevit |
| market | outsid unit state look beyond | market | turbul follow wake last weekend |
| economi | pictur evolv worrisom direct advanc | economi | appear resili earlier falter hous |
| market | appear resili earlier falter hous | market | unit kingdom ireland spain turn |
| countri | policymak help week arrang sale | countri | fifth largest bank emerg economi |
| economi | countri fifth largest bank emerg | economi | balanc risk mani countri shift |
| countri | emerg economi balanc risk mani | countri | shift inflat risk begun reced |
| growth | risk begun reced downsid risk | growth | intensifi imf flagship analys global |
| global | growth intensifi imf flagship analys | global | econom financi develop world econom |
| econom | intensifi imf flagship analys global | econom | financi develop world econom outlook |
| econom | global econom financi develop world | econom | outlook global financi stabil report |
| global | financi develop world econom outlook | global | financi stabil report soon releas |
| global | fund broad take current state | global | economi explain bit detail cautious |
| economi | broad take current state global | economi | explain bit detail cautious optimist |
| global | detail cautious optimist under resili | global | economi describ key polici option |
| economi | cautious optimist under resili global | economi | describ key polici option need |
| polici | resili global economi describ key | polici | option need consid order stave |
| need | economi describ key polici option | need | consid order stave real risk |
| global | consid order stave real risk | global | outlook state play global economi |
| global | risk global outlook state play | global | economi two tracksi begin current |
| economi | global outlook state play global | economi | two tracksi begin current situat |
| econom | tracksi begin current situat first | econom | perform becom bifurc advanc emerg |
| economi | perform becom bifurc advanc emerg | economi | move directionthat growth everywher slow |
| growth | advanc emerg economi move directionthat | growth | everywher slow decis end hope |
| growth | everywher slow decis end hope | growth | decoupl face two differ set |
| economi | end year third quarter advanc | economi | either virtual stagnant verg recess |
| growth | risk becom increas well contain | growth | slowdown origin unit state spread |
| economi | quarter euro area japan advanc | economi | general face spell growth well |
| growth | advanc economi general face spell | growth | well potenti grappl ongo strain |
| economi | oil price weaker extern demand | economi | headlin inflat reach  ½ |
| economi | headlin inflat moder signific advanc | economi | reflect impact retreat energi commod |
| economi | increas margin unus capac emerg | economi | aggreg growth rate continu divergebut |
| growth | unus capac emerg economi aggreg | growth | rate continu divergebut decouplefrom advanc |
| economi | rate continu divergebut decouplefrom advanc | economi | put simpli emerg economi defi |
| economi | advanc economi put simpli emerg | economi | defi graviti increas multipolar world |
| economi | import degre resili activ gain | economi | deceler growth still expect remain |
| growth | resili activ gain economi deceler | growth | still expect remain near trend |
| growth | still expect remain near trend | growth | moder annual pace  ¼ |
| growth | quarter larg reflect slower export | growth | result weaker demand advanc economi |
| economi | growth result weaker demand advanc | economi | recent sign capit begin flow |
| economi | capit begin flow mani emerg | economi | reflect declin risk appetit moder |
| growth | reflect declin risk appetit moder | growth | prospect respons mani countri experienc |
| countri | moder growth prospect respons mani | countri | experienc sharp exchang rate depreci |
| also | rate overshoot howev new outflow | also | creat risk economi warrant close |
| economi | new outflow also creat risk | economi | warrant close attent implic develop |
| economi | balanc risk shift mani emerg | economi | clear inflat still key problem |
| economi | inflat still key problem emerg | economi | tighter polici still requir case |
| polici | key problem emerg economi tighter | polici | still requir case ensur hardwon |
| polici | case ensur hardwon gain monetari | polici | credibl erod mani emerg economi |
| economi | polici credibl erod mani emerg | economi | downsid risk growth increas risk |
| growth | mani emerg economi downsid risk | growth | increas risk inflat appear subdu |
| economi | hous downturn unit state advanc | economi | financi turmoil still remain three |
| polici | three shock could dealt standard | polici | howev interplay three shock made |
| polici | abil policymak conduct countercycl monetari | polici | particular advanc economi good news |
| economi | countercycl monetari polici particular advanc | economi | good news perspect shock appear |
| market | lead larg price swing cash | market | demand still run strong earli |
| polici | space countercycl monetari case budgetari | polici | second hous downturnth epicent slowdown |
| also | declin sharp drop residenti construct | also | underway economi outsid unit state |
| economi | drop residenti construct also underway | economi | outsid unit state creat challeng |
| market | eventu revers final strain financi | market | intensifi recent year turmoil erupt |
| market | elsewher midst histor reorder alter | market | institut structur point anticip outcom |
| growth | high specul return rapid credit | growth | appear long way global outlook |
| global | credit growth appear long way | global | outlook gradual recoverygiven challeng one |
| global | could reason expect would pessimist | global | outlook scope recoveri sure tighten |
| global | light recent event negat implic | global | econom activ least like diminish |
| econom | recent event negat implic global | econom | activ least like diminish scope |
| economi | power real wage felt advanc | economi | unit state oil price remain |
| market | second plausibl anticip u hous | market | find bottom alreadi inventori overhang |
| econom | past two yearsof hous sector | econom | activ time eventu stabil hous |
| econom | tighten unit state europ mean | econom | recoveri therebi exclud unit state |
| financ | exclud unit state exampl corpor | financ | general remain relat healthi product |
| econom | slowdown credit intermedi necessarili imped | econom | recoveri final relat robust emerg |
| market | recoveri final relat robust emerg | market | growth led strong domest demand |
| growth | final relat robust emerg market | growth | led strong domest demand sever |
| economi | led strong domest demand sever | economi | help boost u export go |
| growth | forward expect net export support | growth | unit state effect earlier declin |
| economi | time limit adjust currenc sever | economi | peg exchang rate regim larg |
| global | current account surplus adequ support | global | adjust preserv growth background project |
| growth | adequ support global adjust preserv | growth | background project global growth come |
| global | adjust preserv growth background project | global | growth come around percent somewhat |
| growth | preserv growth background project global | growth | come around percent somewhat percent |
| growth | basi howev dynam portray clear | growth | rate examin fourth quarter fourth |
| global | fourth quarter basi use metric | global | growth would slow  ¾ |
| growth | quarter basi use metric global | growth | would slow  ¾ percent |
| global | recov around percent challeng face | global | economi financi system clear downsid |
| economi | around percent challeng face global | economi | financi system clear downsid risk |
| market | feedback loop continu strain financi | market | slow econom activ despit aggress |
| econom | continu strain financi market slow | econom | activ despit aggress polici action |
| polici | slow econom activ despit aggress | polici | action aim allevi liquid strain |
| market | liquid strain prevent system event | market | remain sever stress clear risk |
| also | impli sever problem credit avail | also | clear risk emerg market economi |
| market | avail also clear risk emerg | market | economi far relat insul financi |
| economi | also clear risk emerg market | economi | far relat insul financi turmoil |
| econom | revers capit flow serious implic | econom | activ critic issu deal challeng |
| polici | challeng risk remaind remark focus | polici | address challeng outlin let emphas |
| polici | requir creativ solut across rang | polici | instrument polici find footingmonetari budget |
| polici | solut across rang polici instrument | polici | find footingmonetari budget polici critic |
| polici | instrument polici find footingmonetari budget | polici | critic provid first second line |
| polici | liquid provis financi sector set | polici | interest rate monetari polici play |
| polici | set polici interest rate monetari | polici | play critic role help individu |
| economi | play critic role help individu | economi | find foot scope polici eas |
| polici | individu economi find foot scope | polici | eas ultim depend countri cyclic |
| countri | scope polici eas ultim depend | countri | cyclic posit advanc economi expect |
| economi | depend countri cyclic posit advanc | economi | expect slowdown activ help contain |
| market | increas output gap sluggish labor | market | limit pressur under inflat moreov |
| polici | headlin inflat henc see monetari | polici | broad appropri time across advanc |
| economi | broad appropri time across advanc | economi | outsid unit state given downsid |
| growth | unit state given downsid risk | growth | ongo strain financi crisi could |
| economi | inflat moder expect mani emerg | economi | shift balanc risk inflat growth |
| growth | economi shift balanc risk inflat | growth | greater scope countri moder inflat |
| countri | risk inflat growth greater scope | countri | moder inflat polici credibl take |
| polici | greater scope countri moder inflat | polici | credibl take wait see approach |
| countri | said serious inflat risk persist | countri | growth remain strong given lag |
| growth | serious inflat risk persist countri | growth | remain strong given lag passthrough |
| countri | energi price increas still pipelin | countri | monetari polici tighten bias fiscal |
| polici | increas still pipelin countri monetari | polici | tighten bias fiscal policyth second |
| growth | automat stabil appropri provid support | growth | slow advanc economi mani emerg |
| economi | provid support growth slow advanc | economi | mani emerg economi budgetari polici |
| economi | slow advanc economi mani emerg | economi | budgetari polici play support role |
| polici | economi mani emerg economi budgetari | polici | play support role monetari polici |
| polici | polici play support role monetari | polici | help bring inflat fiscal polici |
| polici | polici help bring inflat fiscal | polici | broad appropri across advanc economi |
| economi | polici broad appropri across advanc | economi | room maneuv limit given need |
| need | economi room maneuv limit given | need | mediumterm fiscal consolid mani countri |
| countri | need mediumterm fiscal consolid mani | countri | howev support financi sector inevit |
| polici | cost must taken account consid | polici | altern emerg economi inflat remain |
| economi | account consid polici altern emerg | economi | inflat remain problem fiscal polici |
| polici | economi inflat remain problem fiscal | polici | play support role restrain demand |
| growth | play support role restrain demand | growth | eas inflat pressur particular greater |
| growth | pressur particular greater restraint spend | growth | would help complement tighter monetari |
| polici | would help complement tighter monetari | polici | direct interventionth third line defenseha |
| also | mind although situat far ideal | also | varieti polici option use includ |
| polici | situat far ideal also varieti | polici | option use includ direct support |
| market | use includ direct support hous | market | regard fund welcom recent action |
| also | balanc sheet stabil fund mortgag | also | substanti reduc downsid risk u |
| growth | substanti reduc downsid risk u | growth | outlook relat shortag hous financ |
| financ | growth outlook relat shortag hous | financ | although unlik turn around u |
| market | unlik turn around u hous | market | longer term deep restructur gses |
| market | restructur gses remain essenti restor | market | disciplin minim fiscal cost limit |
| polici | ultim conflict privat ownership public | polici | object within gses former busi |
| market | financi institut surviv present form | market | structur instrument remain unalt fact |
| market | size financi sector shrink mani | market | inevit overexpand sector least relat |
| need | use innov unconvent measur may | need | implic systemat approach may requir |
| market | scope liquid support offer institut | market | fact global financi market mean |
| global | support offer institut market fact | global | financi market mean polici intervent |
| market | institut market fact global financi | market | mean polici intervent need global |
| polici | fact global financi market mean | polici | intervent need global coher consist |
| need | financi market mean polici intervent | need | global coher consist order effect |
| global | market mean polici intervent need | global | coher consist order effect although |
| global | order effect although cautious optimist | global | economi continu resili face signific |
| economi | effect although cautious optimist global | economi | continu resili face signific headwind |
| polici | resili face signific headwind impli | polici | challeng tradeoff daunt imf stand |
| polici | confront except challeng understand critic | polici | tradeoff navig success turbul water |
| polici | deal financi turmoil conting risk | polici | challeng role imf speech peterson |
| econom | imf speech peterson institut intern | econom | march |
| global | inde pleasur address distinguish audienc | global | economi face difficult situat mani |
| economi | pleasur address distinguish audienc global | economi | face difficult situat mani year |
| global | togeth impact high commod price | global | growth slow mark follow four |
| growth | impact high commod price global | growth | slow mark follow four year |
| economi | rate seen decad especi emerg | economi | policymak across world face difficult |
| economi | world face difficult challeng nurs | economi | period tight credit condit higher |
| growth | final tackl immedi challeng support | growth | restor health financi system keep |
| global | bay view backdrop rapid chang | global | landscap emerg economi increas take |
| economi | rapid chang global landscap emerg | economi | increas take center stage word |
| polici | take center stage word consist | polici | need major economi return solid |
| need | center stage word consist polici | need | major economi return solid growth |
| economi | word consist polici need major | economi | return solid growth low inflat |
| growth | need major economi return solid | growth | low inflat character best year |
| global | year decad begin brief overview | global | econom outlook focus continu financi |
| econom | decad begin brief overview global | econom | outlook focus continu financi crisi |
| economi | financi crisi discuss impli world | economi | address key polici challeng face |
| polici | impli world economi address key | polici | challeng face global outlook backdrop |
| global | address key polici challeng face | global | outlook backdrop protract financi strain |
| global | strain dramat surg commod price | global | economi confront difficult set circumst |
| economi | dramat surg commod price global | economi | confront difficult set circumst mani |
| global | remark fiveyear span strong expans | global | econom activ deceler mark growth |
| econom | fiveyear span strong expans global | econom | activ deceler mark growth slowdown |
| growth | global econom activ deceler mark | growth | slowdown origin unit state clear |
| economi | clear spread europ japan advanc | economi | general face spell growth well |
| growth | advanc economi general face spell | growth | well potenti grappl ongo strain |
| market | weaker extern demand hous credit | market | remain core u slowdown hous |
| growth | home remain high sizeabl drag | growth | residenti invest like continu albeit |
| market | continu albeit diminish rate credit | market | relat high mortgag rate tighter |
| economi | time consumpt key support u | economi | recent face strong headwind tighter |
| market | corpor equiti well weaker labor | market | sluggish growth dispos incom baselin |
| growth | well weaker labor market sluggish | growth | dispos incom baselin u growth |
| growth | growth dispos incom baselin u | growth | fourthquarteronfourthquart basi would slow percent |
| growth | Â ½ percent western europ | growth | slow amid weak busi consum |
| countri | term trade loss weaker partner | countri | growth impact strong currenc trade |
| growth | trade loss weaker partner countri | growth | impact strong currenc trade tighter |
| market | incom financi strain declin hous | market | increas drag domest demand sever |
| countri | increas drag domest demand sever | countri | includ spain unit kingdom ireland |
| growth | spain unit kingdom ireland project | growth | euro area fourthquarteron fourthquart basi |
| econom | ½ percent contrast notwithstand moder | econom | momentum remain robust emerg economi |
| economi | econom momentum remain robust emerg | economi | growth moder percent percent past |
| growth | momentum remain robust emerg economi | growth | moder percent percent past year |
| growth | year larg reflect slower export | growth | result weaker demand advanc economi |
| economi | growth result weaker demand advanc | economi | nonetheless growth largest emerg economi |
| growth | weaker demand advanc economi nonetheless | growth | largest emerg economi brazil china |
| economi | economi nonetheless growth largest emerg | economi | brazil china india russia continu |
| global | india russia continu contribut percent | global | gdp growth center slowdown emerg |
| growth | continu contribut percent global gdp | growth | center slowdown emerg economi domest |
| economi | gdp growth center slowdown emerg | economi | domest demand held remark well |
| growth | trade financi channel go forward | growth | momentum like lose steam emerg |
| economi | momentum like lose steam emerg | economi | degre deceler would differ across |
| economi | deceler pronounc sever emerg asian | economi | tight link global manufactur cycl |
| global | emerg asian economi tight link | global | manufactur cycl includ philippin thailand |
| also | lesser extent india headwind activ | also | intensifi emerg europ latin america |
| growth | financi channel overal fourthquarteronfourthquart basi | growth | emerg develop economi project eas |
| economi | fourthquarteronfourthquart basi growth emerg develop | economi | project eas percent percent reacceler |
| global | eas percent percent reacceler percent | global | economi project slow second half |
| economi | percent percent reacceler percent global | economi | project slow second half recoveri |
| global | half recoveri gain pace gradual | global | gdp growth would slow percent |
| growth | gain pace gradual global gdp | growth | would slow percent percent late |
| econom | figur still review releas world | econom | outlook next month recoveri global |
| global | econom outlook next month recoveri | global | econom activ would driven unwind |
| econom | outlook next month recoveri global | econom | activ would driven unwind effect |
| economi | robust domest demand mani emerg | economi | benefit rapid integr global economi |
| global | emerg economi benefit rapid integr | global | economi affect much smaller extent |
| economi | economi benefit rapid integr global | economi | affect much smaller extent financi |
| economi | surg key commod price advanc | economi | headlin inflat rose around  |
| countri | inflat gone much emerg develop | countri | rose percent aggreg juli led |
| countri | food price increas wide swath | countri | experienc doubledigit inflat shown red |
| growth | fundament factor sustain strong demand | growth | fuel acceler resourc intens growth |
| growth | growth fuel acceler resourc intens | growth | emerg economi sluggish suppli respons |
| economi | acceler resourc intens growth emerg | economi | sluggish suppli respons declin inventori |
| global | inventori contribut surg price weaker | global | growth demand respons higher oil |
| growth | contribut surg price weaker global | growth | demand respons higher oil price |
| market | respons higher oil price tight | market | balanc suppli demand oil market |
| market | market balanc suppli demand oil | market | eas allow oil price reced |
| economi | examin issu core inflat advanc | economi | remain broad contain increas mark |
| economi | broad contain increas mark emerg | economi | recent moder intern commod price |
| economi | eas pressur inflat risk emerg | economi | remain serious sinc vulner secondround |
| economi | rang percent oppos percent advanc | economi | inflat expect less well anchor |
| growth | anchor central bank credibl fast | growth | erod margin spare capac global |
| global | growth erod margin spare capac | global | financi strainspolici |
| econom | opportun particip today share observ | econom | role polici signific sovereign wealth |
| polici | today share observ econom role | polici | signific sovereign wealth fund swfs |
| global | begin place expand signific fund | global | econom financi context discuss role |
| econom | place expand signific fund global | econom | financi context discuss role attain |
| global | success product meet conclud santiago | global | econom contextmani profound transform take |
| econom | product meet conclud santiago global | econom | contextmani profound transform take place |
| global | contextmani profound transform take place | global | economi ten year ago larg |
| economi | profound transform take place global | economi | ten year ago larg number |
| economi | year ago larg number emerg | economi | engulf financi econom turmoil afflict |
| econom | number emerg economi engulf financi | econom | turmoil afflict balanc payment crise |
| countri | balanc payment crise respons affect | countri | act decis mani signific strengthen |
| polici | mani signific strengthen budgetari monetari | polici | disciplin often difficult stress effort |
| econom | reduct one result effort restor | econom | stabil investor confid fact emerg |
| economi | stabil investor confid fact emerg | economi | aggreg quick resum relat rapid |
| growth | aggreg quick resum relat rapid | growth | trajectori time began run current |
| economi | accumul intern reserv asset word | economi | becam net capit export rest |
| economi | export rest world particular advanc | economi | recent trend becam highpow strong |
| global | recent trend becam highpow strong | global | growth past year sharpli boost |
| growth | trend becam highpow strong global | growth | past year sharpli boost energi |
| economi | receipt mani energi commod export | economi | countri includ richest develop economi |
| countri | mani energi commod export economi | countri | includ richest develop economi also |
| economi | economi countri includ richest develop | economi | also mani emerg one well |
| also | countri includ richest develop economi | also | mani emerg one well develop |
| economi | mani emerg one well develop | economi | mani govern assum either design |
| countri | circumst role guardian substanti amount | countri | financi asset effect wealth manag |
| countri | import public sector respons mani | countri | respond creat sovereign wealth fund |
| countri | sovereign wealth fund grown within | countri | relev also increas intern financi |
| also | fund grown within countri relev | also | increas intern financi system exampl |
| market | increas intern financi system exampl | market | particip estim suggest asset manag |
| global | swf asset project surpass stock | global | foreign exchang reserv distant futur |
| countri | top us trillion b home | countri | polici goalswhil swfs share goal |
| polici | us trillion b home countri | polici | goalswhil swfs share goal effici |
| countri | share goal effici effect manag | countri | offici financi wealth specif econom |
| econom | countri offici financi wealth specif | econom | polici role exampl countri export |
| polici | offici financi wealth specif econom | polici | role exampl countri export nonrenew |
| countri | specif econom polici role exampl | countri | export nonrenew resourc princip challeng |
| economi | manag effect swf help protect | economi | noncommod sector destabil currenc fluctuat |
| countri | destabil currenc fluctuat help spread | countri | wealth equit across generat inde |
| countri | inde exist swfs establish commodityexport | countri | stabil andor save purpos fund |
| econom | andor save purpos fund social | econom | stabil fess govern chile establish |
| also | term trade sovereign wealth fund | also | aim explicit develop broader base |
| econom | aim explicit develop broader base | econom | growth develop effici diversifi economi |
| growth | explicit develop broader base econom | growth | develop effici diversifi economi reduc |
| economi | econom growth develop effici diversifi | economi | reduc impact commod price volatil |
| economi | commod price volatil help prepar | economi | postcommod era one state purpos |
| need | establish swfs age popul creat | need | fund futur social oblig least |
| need | carri cost currenc mismatch drive | need | higher riskadjust asset return countri |
| countri | need higher riskadjust asset return | countri | seek prudent effect manag type |
| econom | wealth fund help generat longterm | econom | benefit sever import condit must |
| polici | result first appropri budget monetari | polici | repres import precondit thus oper |
| polici | swf must well integr overal | polici | framework fail swf could produc |
| polici | fail swf could produc potenti | polici | pitfal creat parallel budget illtim |
| countri | fund oper proper integr home | countri | econom polici framework critic adequ |
| econom | oper proper integr home countri | econom | polici framework critic adequ inform |
| polici | proper integr home countri econom | polici | framework critic adequ inform report |
| financ | nation account well monetari govern | financ | extern sector statist third recent |
| econom | inform public accumul revenu provid | econom | rational buildup swf resourc transpar |
| also | perform sever swfs around world | also | follow similar care construct govern |
| polici | fund conting upon respons invest | polici | consist polici purpos includ care |
| polici | upon respons invest polici consist | polici | purpos includ care skill prudenc |
| polici | fund may even determin invest | polici | asset liabil context match entitl |
| growth | clear recent data size rapid | growth | sovereign wealth fund place front |
| econom | public attent well intern financi | econom | polici deliber thus far role |
| polici | attent well intern financi econom | polici | deliber thus far role swfs |
| economi | context past year turmoil advanc | economi | financi market notabl posit anyth |
| market | year turmoil advanc economi financi | market | notabl posit anyth fund action |
| global | action shown play shockabsorb role | global | financi market least term dampen |
| market | play shockabsorb role global financi | market | least term dampen shortterm market |
| market | market least term dampen shortterm | market | volatil reflect typic longterm invest |
| need | invest horizon limit immedi redempt | need | main unleverag posit addit mani |
| global | interest preserv wellfunct open liquid | global | market nevertheless concern swf invest |
| market | preserv wellfunct open liquid global | market | nevertheless concern swf invest rais |
| countri | concern swf invest rais recipi | countri | worri express swf invest could |
| also | swfs face lead retaliatori measur | also | negat dynam could undermin effici |
| global | dynam could undermin effici flow | global | capit even diminish stabil intern |
| countri | public privat leader swf sponsor | countri | recipi countri recogn intern system |
| countri | leader swf sponsor countri recipi | countri | recogn intern system would benefit |
| countri | principl practic follow side recipi | countri | act oecd develop implement invest |
| also | condit success list earlier gapp | also | seek help maintain free flow |
| countri | stabl financi system swfs recipi | countri | recogn gapp work mutual advantag |
| global | work oecd member help secur | global | environ effect benefici crossbord invest |
| econom | swfs continu play meaning construct | econom | financi role forese futur |
| econom | turmoil particular view remain divid | econom | activ affect best ensur lesson |
| market | present compel argument bank capit | market | repres two side coin marketbas |
| polici | includ import feder reserv shortterm | polici | interest rate draw link behavior |
| polici | macroeconom outcom argu chang shortterm | polici | rate tend accentu fluctuat balanc |
| growth | balanc sheet faster balanc sheet | growth | follow lower interest rate slower |
| growth | interest rate slower balanc sheet | growth | follow higher interest rate except |
| polici | rate except crise sens monetari | polici | may play procycl role adrian |
| polici | explicit forwardlook manner conduct monetari | polici | would impli lean wind leverag |
| econom | revers disord manner harm consequ | econom | activ adrian shin focus unit |
| global | context episod financi stress truli | global | natur affect advanc emerg market |
| market | global natur affect advanc emerg | market | economi chart base crosscountri financi |
| economi | natur affect advanc emerg market | economi | chart base crosscountri financi stress |
| countri | addit affect larger share advanc | countri | episod sinc shown lower panel |
| global | sinc shown lower panel given | global | dimens crisi import understand link |
| econom | lead analyt chapter octob world | econom | outlook examin interact financi stress |
| econom | outlook examin interact financi stress | econom | perform cross countri context upcom |
| countri | financi stress econom perform cross | countri | context upcom global financi stabil |
| global | perform cross countri context upcom | global | financi stabil report also examin |
| also | upcom global financi stabil report | also | examin disrupt shortterm money market |
| market | also examin disrupt shortterm money | market | affect monetari transmiss mechan adrian |
| also | sever dimens consist find although | also | tri highlight key differ well |
| market | shin underscor connect financi intermediari | market | focus mark market practic invest |
| market | financi intermediari market focus mark | market | practic invest hous procycl leverag |
| also | toward marketbas arm length intermedi | also | emphas distinct broker dealer commerci |
| economi | state somewhat lesser extent advanc | economi | move toward greater relianc arm |
| countri | becom increas promin broad rang | countri | time one could argu author |
| econom | could argu author acknowledg appar | econom | impact brokerdeal variabl macroeconom perform |
| econom | financi intermediari examin matter real | econom | growth regard control endogen variabl |
| growth | intermediari examin matter real econom | growth | regard control endogen variabl account |
| econom | support conclus financi stress substanti | econom | impact even control factor may |
| economi | even control factor may affect | economi | chart seen right panel cumul |
| market | type financi stress restrict secur | market | foreign exchang market one implic |
| market | restrict secur market foreign exchang | market | one implic adrian shin paper |
| econom | procycl leverag marketbas system amplifi | econom | consequ financi turmoil inde crosscountri |
| econom | address adrian shin paper extent | econom | impact swing avail credit depend |
| econom | explain impact financi system shock | econom | activ research indic initi condit |
| economi | set stage larger impact real | economi | firm forc adjust spend plan |
| financ | greater household sector relianc extern | financ | polici implic adrian shin paper |
| polici | household sector relianc extern financ | polici | implic adrian shin paper particular |
| polici | particular would like focus three | polici | conclus first potenti financi distress |
| polici | account forwardlook manner conduct monetari | polici | argu power tool relax aggreg |
| financ | argu power tool relax aggreg | financ | constraint lower target polici interest |
| polici | aggreg financ constraint lower target | polici | interest rate sinc financi system |
| financ | whole hold longterm illiquid asset | financ | shortterm liabil lower shortterm rate |
| polici | show somewher system regard monetari | polici | financi stabil polici link work |
| polici | regard monetari polici financi stabil | polici | link work upcom global financi |
| global | stabil polici link work upcom | global | financi stabil report corrobor conclus |
| market | armslength financi system instabl one | market | may easili transmit other make |
| also | affect bankbas financi system europ | also | seen less volatil relat ecb |
| polici | rate borrow rate agre monetari | polici | possibl role contribut boom bust |
| polici | quit difficult therefor consid monetari | polici | relat imprecis instrument respect see |
| polici | see greater merit use macroprudenti | polici | reduc procycl tendenc regard agre |
| polici | agenda adrian shin stress two | polici | implic first make case inform |
| polici | balanc sheet variabl conduct monetari | polici | money stock measur liabil deposittak |
| need | dealer take would central bank | need | mani case alreadi monitor broader |
| financ | risk associ take longerterm asset | financ | shortterm debt compress rais potenti |
| countri | great benefit across wide rang | countri | care interpret find paper suggest |
| polici | vulner perhap design around regulatori | polici | aim align incent market particip |
| market | regulatori polici aim align incent | market | particip sound approach risk manag |
| econom | contribut debat link financi sector | econom | activ well appropri role monetari |
| polici | well appropri role monetari regulatori | polici | thorough debat warrant chang linkag |
| market | thorough debat warrant chang linkag | market | polici econom outcom financi system |
| polici | debat warrant chang linkag market | polici | econom outcom financi system worldwid |
| econom | warrant chang linkag market polici | econom | outcom financi system worldwid continu |
| global | interest learn discuss benefit challeng | global | debat further understand issu congratul |
| global | today postal servic long contribut | global | centuri term introduc continu posit |
| economi | introduc continu posit role world | economi | bring world closer postal servic |
| econom | movement worker thus contribut import | econom | growth welfar remark focus benefit |
| growth | worker thus contribut import econom | growth | welfar remark focus benefit challeng |
| global | benefit challeng world rapid integr | global | role imf play maxim benefit |
| polici | maxim benefit minim risk import | polici | coher amongst intern institut global |
| global | polici coher amongst intern institut | global | aid econom growth price stabil |
| econom | amongst intern institut global aid | econom | growth price stabil also bring |
| growth | intern institut global aid econom | growth | price stabil also bring challeng |
| also | aid econom growth price stabil | also | bring challeng global mean someth |
| global | price stabil also bring challeng | global | mean someth differ us let |
| economi | let specifi mind increas integr | economi | world particular intern flow good |
| econom | peopl labor knowledg technolog inform | econom | global histor process driven main |
| global | labor knowledg technolog inform econom | global | histor process driven main invent |
| econom | driven main invent innov well | econom | polici irrevers world war polici |
| polici | main invent innov well econom | polici | irrevers world war polici follow |
| polici | econom polici irrevers world war | polici | follow trigger decad dis integr |
| global | dis integr late howev process | global | thrive ratio good servic trade |
| global | thrive ratio good servic trade | global | gdp risen percent foreign direct |
| market | relat short period time integr | market | brought effect use scarc global |
| global | market brought effect use scarc | global | resourc enhanc econom growth increas |
| econom | use scarc global resourc enhanc | econom | growth increas employ job qualiti |
| growth | scarc global resourc enhanc econom | growth | increas employ job qualiti individu |
| economi | servic particular develop emerg asian | economi | global recent help dampen price |
| global | particular develop emerg asian economi | global | recent help dampen price pressur |
| global | poor benefit come import challeng | global | macroeconom imbal highlight increas financi |
| countri | financi crisi closer tie among | countri | chang one region easili rapid |
| global | boom food fuel price rapid | global | mani countri also coincid rise |
| countri | fuel price rapid global mani | countri | also coincid rise incom inequ |
| also | price rapid global mani countri | also | coincid rise incom inequ although |
| global | one thing clear howev benefit | global | need spread wide maxim benefit |
| need | thing clear howev benefit global | need | spread wide maxim benefit ensur |
| econom | ensur peopl gain har technolog | econom | integr help meet poverti reduct |
| global | clear problem tomorrow like truli | global | solut need global best achiev |
| need | tomorrow like truli global solut | need | global best achiev multilater fora |
| global | like truli global solut need | global | best achiev multilater fora imf |
| global | fora imf help meet challeng | global | imf refocus effort adapt chang |
| need | world guid principl respons member | need | focus area expertis fulfil strateg |
| countri | direct take sever step help | countri | make global minim associ risk |
| global | sever step help countri make | global | minim associ risk first modern |
| global | modern strengthen macroeconom surveil activ | global | bring need frequent crosscountri coordin |
| need | macroeconom surveil activ global bring | need | frequent crosscountri coordin new mechan |
| global | multilater consult recent multilater consult | global | imbal first exampl particular form |
| polici | first exampl particular form dialogu | polici | format reach last year remain |
| also | last year remain relev today | also | strengthen work macro econom financi |
| econom | today also strengthen work macro | econom | financi sector linkag greater trade |
| polici | new decis bilater surveil member | polici | imf work exchang rate even |
| global | lend facil better reflect realiti | global | particular fact privat capit flow |
| countri | capit flow larger rapid ever | countri | borrow commerci particular context let |
| global | let say word specif ongo | global | food fuel price crisi pose |
| polici | imf within mandat provid analysi | polici | advic financi assist third way |
| global | third way help meet challeng | global | increas emphasi financi sector issu |
| polici | integr part fund macroeconom analysi | polici | advic individu countri financi sector |
| countri | macroeconom analysi polici advic individu | countri | financi sector assess program run |
| global | part broader strategi share benefit | global | wide industri countri need open |
| countri | share benefit global wide industri | countri | need open market particular laborintens |
| need | benefit global wide industri countri | need | open market particular laborintens good |
| market | wide industri countri need open | market | particular laborintens good servic interest |
| countri | laborintens good servic interest lowincom | countri | develop countri must continu trade |
| countri | servic interest lowincom countri develop | countri | must continu trade reform exploit |
| economi | exist new opportun export industri | economi | expand southsouth trade regard imf |
| polici | southsouth trade regard imf provid | polici | advic technic assist individu countri |
| countri | polici advic technic assist individu | countri | facilit trade reform global stage |
| global | individu countri facilit trade reform | global | stage imf vigor support ambiti |
| countri | greater better traderel assist develop | countri | aid trade initi help share |
| global | initi help share fulli benefit | global | final promot inclus global develop |
| global | benefit global final promot inclus | global | develop countri work often goe |
| countri | final promot inclus global develop | countri | work often goe beyond activ |
| polici | goe beyond activ mention exampl | polici | coher role intern organ entir |
| global | import role meet opportun challeng | global | institut contribut area expertis minim |
| also | expertis minim duplic effort must | also | well awar activ polici advic |
| polici | must also well awar activ | polici | advic member countri complement other |
| countri | awar activ polici advic member | countri | complement other work pleas share |
| global | contribut uniqu way spread benefit | global | work standard board entiti upu |
| global | place world upu contribut one | global | posit aspect perspect economist upu |
| econom | trade cost contribut trade higher | econom | welfar macro econom stabil effect |
| econom | trade higher econom welfar macro | econom | stabil effect macro econom polici |
| econom | macro econom stabil effect macro | econom | polici manag let end applaud |
| polici | econom stabil effect macro econom | polici | manag let end applaud univers |
| also | work appreci consum postal servic | also | economist view express herein author |
| global | imf autumn weo found trade | global | associ lower inequ financi global |
| global | global associ lower inequ financi | global | fdi particular associ inequ still |
| global | clear distinguish effect technolog financi | global | |
| global | prepar deliveryth | global | econom financi landscap rapid evolv |
| econom | prepar deliveryth global | econom | financi landscap rapid evolv year |
| global | landscap rapid evolv year ago | global | economi fifth year except broadbas |
| economi | rapid evolv year ago global | economi | fifth year except broadbas expans |
| growth | except broadbas expans led strong | growth | emerg economi accompani low inflat |
| economi | expans led strong growth emerg | economi | accompani low inflat wellanchor expect |
| global | energi commod price soar exacerb | global | imbal push inflat higher potenti |
| market | asset price fall mani key | market | stunt household net worth spur |
| market | household net worth spur financi | market | turmoil rais doubt recent market |
| market | market turmoil rais doubt recent | market | innov everywher confid nearterm prospect |
| economi | difficultand differ task policymak advanc | economi | growth project fall potenti support |
| growth | differ task policymak advanc economi | growth | project fall potenti support growth |
| growth | growth project fall potenti support | growth | stabil financi system compris key |
| econom | price chang minim result overal | econom | financi disrupt prevent deterior longterm |
| economi | inflat expect mani key emerg | economi | combat rise inflationresult strong domest |
| growth | rise inflationresult strong domest demand | growth | surg commod pricesi central challeng |
| growth | final achiev better balanc demand | growth | across countri need order boost |
| countri | better balanc demand growth across | countri | need order boost confid reduc |
| need | balanc demand growth across countri | need | order boost confid reduc global |
| global | need order boost confid reduc | global | payment imbal overarch global task |
| global | reduc global payment imbal overarch | global | task includ draw appropri lesson |
| market | includ draw appropri lesson financi | market | regul current turmoil strengthen intern |
| market | circumst surpris mani scholar financi | market | analyst reexamin past episod econom |
| econom | market analyst reexamin past episod | econom | financi stress involv slow demand |
| global | uncov semin shift taken place | global | financi market structur also could |
| market | shift taken place global financi | market | structur also could make histor |
| also | place global financi market structur | also | could make histor analog mislead |
| market | expect close mimic past experi | market | econom configur differ mani import |
| econom | close mimic past experi market | econom | configur differ mani import way |
| global | success differ task describ share | global | respons simpl power conclus underscor |
| global | particip fund pathbreak multilater consult | global | imbal return issu share respons |
| global | remark first outlin imf view | global | econom financi outlook provid perspect |
| econom | first outlin imf view global | econom | financi outlook provid perspect whether |
| global | construct resolut multipl challeng face | global | economi ad problem global outlookin |
| economi | resolut multipl challeng face global | economi | ad problem global outlookin latest |
| global | face global economi ad problem | global | outlookin latest world econom outlook |
| econom | problem global outlookin latest world | econom | outlook forecast updat project global |
| global | econom outlook forecast updat project | global | growth slow around percent compar |
| growth | outlook forecast updat project global | growth | slow around percent compar percent |
| economi | moder year across advanc emerg | economi | recov gradual despit global slow |
| global | emerg economi recov gradual despit | global | slow growth still expect remain |
| growth | recov gradual despit global slow | growth | still expect remain trend emerg |
| economi | emerg economiesat around percent advanc | economi | growth potenti first time sinc |
| growth | economiesat around percent advanc economi | growth | potenti first time sinc earli |
| economi | boost inflat pressur particular emerg | economi | advanc economi headlin inflat rose |
| economi | pressur particular emerg economi advanc | economi | headlin inflat rose  ½ |
| economi | percent increas inflat mark emerg | economi | headlin core inflat risen  |
| global | inflat expect potenti serious risk | global | cours monetari polici must aim |
| polici | serious risk global cours monetari | polici | must aim first foremost head |
| also | first foremost head inflationari pressur | also | mind downsid risk growth advanc |
| growth | pressur also mind downsid risk | growth | advanc economi risk secondround effect |
| economi | mind downsid risk growth advanc | economi | risk secondround effect surg commod |
| market | commod price continu stress financi | market | complic respons slowdown said inflationari |
| econom | lost would serious undermin futur | econom | progress emerg economi mani central |
| economi | undermin futur econom progress emerg | economi | mani central bank rais polici |
| polici | economi mani central bank rais | polici | interest rate respons rise inflat |
| countri | remain negat real term particular | countri | exchang rate manag limit monetari |
| polici | exchang rate manag limit monetari | polici | flexibl risk mani countri fallen |
| countri | monetari polici flexibl risk mani | countri | fallen behind curv tighten polici |
| polici | countri fallen behind curv tighten | polici | sever countri particular whose growth |
| countri | behind curv tighten polici sever | countri | particular whose growth trend monetari |
| growth | polici sever countri particular whose | growth | trend monetari polici need tighten |
| polici | particular whose growth trend monetari | polici | need tighten greater fiscal restraint |
| need | whose growth trend monetari polici | need | tighten greater fiscal restraint case |
| also | case flexibl exchang rate manag | also | may need financi market condit |
| need | exchang rate manag also may | need | financi market condit also remain |
| market | manag also may need financi | market | condit also remain difficult forc |
| also | may need financi market condit | also | remain difficult forc polici respons |
| polici | condit also remain difficult forc | polici | respons financi turbul encourag progress |
| econom | suggest credit deterior widen deepen | econom | condit weaken advanc economi bank |
| economi | deepen econom condit weaken advanc | economi | bank especi north america europ |
| economi | pressur household cloud outlook real | economi | financi system moreov increas inflat |
| econom | moreov increas inflat risk rais | econom | uncertainti reduc flexibl monetari policymak |
| economi | financi stress emphas previous advanc | economi | policymak may need deploy decis |
| need | previous advanc economi policymak may | need | deploy decis innov measur order |
| global | safeguard financi stabil time put | global | financi system firmer foot could |
| polici | includ commit public balanc sheeta | polici | cours label previous third line |
| polici | third line defens appropri structur | polici | advanc emerg develop economi alik |
| economi | structur polici advanc emerg develop | economi | alik also role play restor |
| also | advanc emerg develop economi alik | also | role play restor demandsuppli balanc |
| market | play restor demandsuppli balanc energi | market | demand side increas pass intern |
| economi | intern price critic particular emerg | economi | advanc economi improv conserv energi |
| economi | critic particular emerg economi advanc | economi | improv conserv energi effici import |
| growth | energi effici import help moder | growth | energi demand suppli side oil |
| countri | demand suppli side oil produc | countri | adopt polici foster invest oil |
| polici | side oil produc countri adopt | polici | foster invest oil sector energi |
| also | percent real effect termstook place | also | background larg u current account |
| global | account come year dollar declin | global | imbalancesif declin valu dollar support |
| growth | help promot inevit shift sourc | growth | tradabl nontrad sector surplus deficit |
| economi | tradabl nontrad sector surplus deficit | economi | help reduc global imbal time |
| global | surplus deficit economi help reduc | global | imbal time howev currenc mani |
| economi | imbal time howev currenc mani | economi | flexibl exchang rate appreci mark |
| countri | currenc mani current account surplus | countri | includ china remain substanti undervalu |
| economi | term lack adjust currenc sever | economi | inflex exchang rate regim larg |
| global | larg extern surplus support adjust | global | imbal moreov extent real appreci |
| global | hard ideal outcom order adjust | global | imbal sustain global growth would |
| global | order adjust global imbal sustain | global | growth would like countri recogn |
| growth | adjust global imbal sustain global | growth | would like countri recogn share |
| countri | sustain global growth would like | countri | recogn share respons success outcom |
| global | outcom imf initi multilater consult | global | imbal key outcom consult present |
| polici | consult present set mutual consist | polici | plan specifi five participantsth unit |
| growth | currenc order support rebalanc chines | growth | toward domest consumpt increas infrastructur |
| economi | slowdown fiscal stimulus packag support | economi | china made progress rebalanc growth |
| growth | economi china made progress rebalanc | growth | exchang rate flexibl taken place |
| global | flexibl taken place increment thus | global | imbal project remain high near |
| global | project remain high near term | global | growth slow impli polici part |
| growth | remain high near term global | growth | slow impli polici part imf |
| polici | term global growth slow impli | polici | part imf continu view polici |
| polici | polici part imf continu view | polici | plan put forth particip multilater |
| global | put forth particip multilater consult | global | imbal relev time recogn need |
| need | global imbal relev time recogn | need | implement flexibl circumst chang accept |
| countri | lead larg surplus oil export | countri | implic dollar depreci help reduc |
| also | decad mark declin valu dollar | also | success introduct euro rise emerg |
| economi | success introduct euro rise emerg | economi | episod dollar depreci realli viabl |
| economi | currenc japanes german u k | economi | much smaller unit state financi |
| market | much smaller unit state financi | market | less welldevelop less liquid today |
| economi | less liquid today euro area | economi | similar size unit state account |
| market | Â ¼ world gdp base | market | exchang rate financi market deep |
| market | base market exchang rate financi | market | deep liquid although yet equival |
| economi | grow import intern currenc chines | economi | grow size would also requir |
| also | chines economi grow size would | also | requir full currenc convert open |
| market | capit account signific develop financi | market | track record low stabl inflational |
| global | dollar asset dollar reserv depend | global | develop exampl oil price remain |
| countri | high current account surplus oilexport | countri | like increas rapid countri seek |
| countri | oilexport countri like increas rapid | countri | seek invest surplus vehicl sovereign |
| polici | conclusionth challeng discuss today elicit | polici | respons global countri level multipl |
| global | discuss today elicit polici respons | global | countri level multipl novel challeng |
| countri | today elicit polici respons global | countri | level multipl novel challeng face |
| global | level multipl novel challeng face | global | economi suggest innov solut may |
| economi | multipl novel challeng face global | economi | suggest innov solut may need |
| need | economi suggest innov solut may | need | address aspect particular respect restor |
| polici | control impli monetari exchang rate | polici | align order insur goal met |
| global | met task complic howev slow | global | demand policymak must mind risk |
| growth | demand policymak must mind risk | growth | well inflat howev assert polici |
| polici | growth well inflat howev assert | polici | tighten need mani emerg economi |
| need | inflat howev assert polici tighten | need | mani emerg economi under inflat |
| economi | polici tighten need mani emerg | economi | under inflat pick activ continu |
| economi | rapid suppli constraint bind advanc | economi | time adjust requir economi recov |
| economi | advanc economi time adjust requir | economi | recov regard exchang rate imf |
| global | contribut attain dual goal sustain | global | growth reduc global imbal discuss |
| growth | attain dual goal sustain global | growth | reduc global imbal discuss alreadi |
| global | goal sustain global growth reduc | global | imbal discuss alreadi appropri macroeconom |
| polici | discuss alreadi appropri macroeconom financi | polici | requir attain goal polici action |
| polici | financi polici requir attain goal | polici | action central task howev exampl |
| economi | howev exampl impress flexibl u | economi | help adjust process structur shift |
| economi | help adjust process structur shift | economi | particip multilater consult agre insur |
| need | multilater consult agre insur adjust | need | preserv decad impress progress implement |
| global | progress thank see commod price | global | inflat speech lipski council foreign |
| polici | deal financi turmoil conting risk | polici | challeng role imf speech mr |
| polici | peterson institut march see role | polici | foster oil sector invest global |
| global | polici foster oil sector invest | global | context remark lipski th energi |
| countri | offici foreign exchang reserv data | countri | cover â … ” global |
| global | countri cover â … ” | global | intern reserv near advanc economi |
| economi | global intern reserv near advanc | economi | reserv  ½ emerg economi |
| economi | economi reserv  ½ emerg | economi | reserv |
| market | busi discuss new develop debt | market | glad see wide rang countri |
| countri | market glad see wide rang | countri | particip think form repres group |
| market | think form repres group emerg | market | univers also particular use mani |
| also | repres group emerg market univers | also | particular use mani central banker |
| polici | present link debt manag monetari | polici | crucial central bank perspect vital |
| polici | perspect vital especi question monetari | polici | come fore increas inflat experienc |
| countri | come fore increas inflat experienc | countri | also grate repres matur market |
| also | fore increas inflat experienc countri | also | grate repres matur market privat |
| market | countri also grate repres matur | market | privat sector particip give time |
| financ | rostowski presid skrzypek colleagu ministri | financ | nation bank poland help organ |
| market | preoccup financi turmoil unfold matur | market | economi precipit subprim crisi us |
| economi | financi turmoil unfold matur market | economi | precipit subprim crisi us question |
| market | question turmoil might affect emerg | market | economi debt manag activ particular |
| economi | turmoil might affect emerg market | economi | debt manag activ particular remain |
| countri | widespread fast rise inflat would | countri | around world inflat rate percent |
| countri | financi turmoil less impact develop | countri | advanc countri stori inflat opposit |
| countri | less impact develop countri advanc | countri | stori inflat opposit virtual countri |
| countri | countri stori inflat opposit virtual | countri | emerg market countri group includ |
| market | inflat opposit virtual countri emerg | market | countri group includ largest em |
| countri | opposit virtual countri emerg market | countri | group includ largest em countri |
| countri | countri group includ largest em | countri | sinc novemb averag inflat across |
| market | novemb averag inflat across emerg | market | group risen percent someth approach |
| countri | inde region phenomenon one restrict | countri | follow particular polici regim emerg |
| polici | one restrict countri follow particular | polici | regim emerg market countri around |
| market | follow particular polici regim emerg | market | countri around world see increas |
| countri | particular polici regim emerg market | countri | around world see increas inflat |
| countri | world see increas inflat cours | countri | exchang rate align depreci us |
| countri | dollar experienc sharper increas inflat | countri | emerg europ currenc tie euro |
| also | emerg europ currenc tie euro | also | face higher inflat mani countri |
| countri | also face higher inflat mani | countri | follow flexibl exchang rate inflat |
| countri | flexibl exchang rate inflat target | countri | whether among emerg market advanc |
| market | target countri whether among emerg | market | advanc economi general see inflat |
| economi | whether among emerg market advanc | economi | general see inflat rise uncomfort |
| market | zone inflat grow fastest emerg | market | main food fuel typic form |
| countri | larger share consumpt basket advanc | countri | sometim account percent consumpt compar |
| countri | feed relat price differenti within | countri | polici interfer process increas fuel |
| polici | relat price differenti within countri | polici | interfer process increas fuel subsidi |
| countri | real interest rate negat number | countri | risk central bank react forc |
| countri | expect becom establish resili em | countri | market turbulenceof cours concern financi |
| market | becom establish resili em countri | market | turbulenceof cours concern financi market |
| market | market turbulenceof cours concern financi | market | turmoil disappear market condit improv |
| market | concern financi market turmoil disappear | market | condit improv sinc height crisi |
| financ | repair balanc sheet still done | financ | becom expens emerg market economi |
| market | done financ becom expens emerg | market | economi still show remark resili |
| economi | financ becom expens emerg market | economi | still show remark resili emerg |
| market | still show remark resili emerg | market | low level exposur u subprim |
| market | subprim relat instrument writedown emerg | market | institut make tini fraction overal |
| market | europ due number factor emerg | market | attract domest profit opportun need |
| need | market attract domest profit opportun | need | invest leverag structur product increas |
| also | yield tight bank regul supervis | also | help limit exposur riskier asset |
| also | lack sophist invest complex product | also | number emerg market use period |
| market | complex product also number emerg | market | use period high liquid reduc |
| polici | accumul intern reserv prudent macroeconom | polici | help reduc vulner question remain |
| market | question remain open whether emerg | market | would still remain resili current |
| market | remain case direct exposur emerg | market | troubl sector advanc countri financi |
| countri | emerg market troubl sector advanc | countri | financi system appear low indirect |
| global | indirect channel may come play | global | bank market becom constrain precari |
| market | may come play global bank | market | becom constrain precari balanc sheet |
| market | potenti reduc avail fund emerg | market | increas cost fact see sign |
| market | fact see sign occur emerg | market | corpor new extern debt issuanc |
| also | contract spread widen substanti second | also | potenti traderel effect consid growth |
| growth | also potenti traderel effect consid | growth | slow advanc economi industri product |
| economi | effect consid growth slow advanc | economi | industri product growth emerg market |
| growth | slow advanc economi industri product | growth | emerg market economi slow appear |
| market | economi industri product growth emerg | market | economi slow appear pois slow |
| economi | industri product growth emerg market | economi | slow appear pois slow come |
| market | fund general skeptic notion emerg | market | economi decoupl advanc economi world |
| economi | general skeptic notion emerg market | economi | decoupl advanc economi world trade |
| economi | emerg market economi decoupl advanc | economi | world trade financ ever global |
| financ | decoupl advanc economi world trade | financ | ever global interlink true trend |
| global | economi world trade financ ever | global | interlink true trend rate growth |
| growth | global interlink true trend rate | growth | emerg market acceler sinc diverg |
| market | true trend rate growth emerg | market | acceler sinc diverg substanti matur |
| economi | acceler sinc diverg substanti matur | economi | diverg decoupl inde adjust longterm |
| growth | trend clear yeartoyear deviat trend | growth | emerg advanc economi remain close |
| economi | deviat trend growth emerg advanc | economi | remain close correl also import |
| also | advanc economi remain close correl | also | import note emerg market economi |
| market | correl also import note emerg | market | economi singl homogen block critic |
| economi | also import note emerg market | economi | singl homogen block critic differ |
| countri | block critic differ differ em | countri | within advanc countri group rang |
| countri | differ em countri within advanc | countri | group rang countri characterist relev |
| countri | within advanc countri group rang | countri | characterist relev growth domest credit |
| growth | group rang countri characterist relev | growth | domest credit extent inflat increas |
| market | appear current account deficit financi | market | discrimin strong deficit surplus countri |
| countri | market discrimin strong deficit surplus | countri | sovereign cds spread emerg market |
| market | countri sovereign cds spread emerg | market | countri current account deficit percent |
| countri | sovereign cds spread emerg market | countri | current account deficit percent gdp |
| countri | gdp widen rough basi point | countri | compar last novemb similar seen |
| market | local currenc volatil higher stock | market | fall among high deficit group |
| market | high deficit group general emerg | market | asia latin america seem stronger |
| polici | europ number vulner present clear | polici | improv critic help number emerg |
| market | improv critic help number emerg | market | economi withstand pressur advanc countri |
| economi | critic help number emerg market | economi | withstand pressur advanc countri financi |
| countri | market economi withstand pressur advanc | countri | financi market countri vulner extern |
| market | withstand pressur advanc countri financi | market | countri vulner extern financ shock |
| countri | pressur advanc countri financi market | countri | vulner extern financ shock higher |
| financ | financi market countri vulner extern | financ | shock higher inflat may need |
| need | financ shock higher inflat may | need | adjust tighter financ condit tackl |
| financ | inflat may need adjust tighter | financ | condit tackl rise inflat expect |
| countri | tackl rise inflat expect depend | countri | situat polici respons may need |
| polici | inflat expect depend countri situat | polici | respons may need includ regulatori |
| need | countri situat polici respons may | need | includ regulatori chang tighten fiscal |
| polici | regulatori chang tighten fiscal monetari | polici | allow fluctuat exchang rate among |
| market | managersthes twin macroeconom concern financi | market | turbul resurg inflat form backdrop |
| market | much hear debt manag chang | market | environ affect debt manag oper |
| market | higher inflat mean local debt | market | see mark increas demand inflat |
| market | debt strategi remain robust chang | market | sinc seen case countri limit |
| countri | chang market sinc seen case | countri | limit cancel domest debt auction |
| also | fix rate debt recent month | also | seen pickup extern sovereign bond |
| financ | demand domest instrument make extern | financ | look relat cheap although countri |
| countri | financ look relat cheap although | countri | spread risen under u treasuri |
| countri | remain quit low interest hear | countri | approach decis context cost risk |
| need | strategi whether debt manag see | need | substant reoptim strategi conting risk |
| countri | tomorrow possibl conting risk face | countri | debt manag due problem privat |
| market | debt crise asian crisi emerg | market | crise late inde number case |
| market | sovereign debt crise continu financi | market | turmoil make time occas discuss |
| countri | alreadi seen number case advanc | countri | interven public resourc rescu fail |
| market | sector exposur risen mani emerg | market | countri recent year especi emerg |
| countri | exposur risen mani emerg market | countri | recent year especi emerg europ |
| countri | exposur reduc extern debt ratio | countri | whole may face higher conting |
| countri | offset action privat sector mani | countri | seen sharp growth bank credit |
| growth | sector mani countri seen sharp | growth | bank credit corpor household sector |
| need | place via unexpect channel heighten | need | caution set polici macroeconom polici |
| polici | channel heighten need caution set | polici | macroeconom polici supervisori regulatori polici |
| polici | need caution set polici macroeconom | polici | supervisori regulatori polici discuss one |
| polici | polici macroeconom polici supervisori regulatori | polici | discuss one import element broader |
| market | improv understand macrofinanci linkag financi | market | crisi made clear econom financi |
| econom | financi market crisi made clear | econom | financi market develop effect across |
| market | crisi made clear econom financi | market | develop effect across sector across |
| financ | border time fund work ministri | financ | central bank therefor uniqu place |
| market | wit one tri time financi | market | sever decad perhap sinc great |
| need | decad perhap sinc great depress | need | repeat detail audienc litani event |
| also | type consum credit meant sector | also | wit weaken credit standard categori |
| global | second intern monetari fund make | global | financi market safer place ensur |
| market | monetari fund make global financi | market | safer place ensur sustain global |
| global | market safer place ensur sustain | global | growth lessonsther sever lesson draw |
| growth | safer place ensur sustain global | growth | lessonsther sever lesson draw privat |
| need | lesson privat sector first origin | need | incentiv make loan highqual borrow |
| need | govern structur risk manag system | need | improv financi firm incent bias |
| need | structur within credit rate agenc | need | reexamin runup crisi practic includ |
| also | agenc u secur exchang commiss | also | weigh guidanc fourth lesson investor |
| need | weigh guidanc fourth lesson investor | need | perform due dilig ask right |
| also | financi system rate interpret endus | also | part equat part caus structur |
| market | equat part caus structur product | market | collaps incent upsw cycl searchforyield |
| need | two key lesson emerg first | need | refin regulatori framework avoid distort |
| need | fund shortag second supervisor regul | need | incent resourc look hard deep |
| market | attent holist view across credit | market | fund risk emphas part recent |
| need | type bank resolut depositinsur framework | need | strengthen interag coordin need effect |
| need | framework need strengthen interag coordin | need | effect central bank remain wellinform |
| economi | analysi risk major financi institut | economi | area central bank lesson particular |
| economi | bank respond affect outcom real | economi | without doubt see shortcom exist |
| market | aim fix low volum interbank | market | get market go yet still |
| market | low volum interbank market get | market | go yet still see interbank |
| market | yet still see interbank money | market | general recov quick hope evalu |
| also | purpos ongo issu moral hazard | also | heart problem role fundlet turn |
| countri | linkag may difficult author individu | countri | see base work provid assess |
| polici | recommend fact provid first set | polici | respons issu rais crisi latest |
| global | respons issu rais crisi latest | global | financi stabil report report intern |
| countri | transfer lesson learn crisi appropri | countri | region alert vulner face includ |
| countri | observ evalu financi sector individu | countri | linkag across countri well abil |
| countri | sector individu countri linkag across | countri | well abil absorb various macroeconom |
| countri | highlight anoth spent track given | countri | stand relat peer sever dimens |
| market | supervis basel core principl secur | market | regul iosco core principl use |
| countri | follow crisi standard setter encourag | countri | adopt best practic fifth fund |
| polici | soon current research other well | polici | discuss financi stabil post link |
| need | behind us correct action still | need | lesson learn ongo said learn |
| market | differ way new instrument new | market | sometim newli creat type institut |
| market | often alter incent difficult job | market | particip offici sector gotten comfort |
| market | redirect reinforc selfcorrect forc financi | market | rather destruct one fund play |
| global | rulemak throughout membership foster secur | global | econom financi environ view express |
| econom | throughout membership foster secur global | econom | financi environ view express herein |
| global | deliverycurr situat five year strong | global | growth protract financi disloc began |
| growth | situat five year strong global | growth | protract financi disloc began last |
| global | last summer begin take toll | global | econom prospect activ look set |
| econom | summer begin take toll global | econom | prospect activ look set weaken |
| market | activ look set weaken financi | market | appear stabil somewhat concern system |
| market | remain fragil recent improv financi | market | part revers renew concern loss |
| also | across globe exchang rate movement | also | strike dollar approach lowest level |
| global | sentiment outlook develop affect assess | global | outlook advanc economi hardest hit |
| economi | affect assess global outlook advanc | economi | hardest hit financi crisi expect |
| economi | crisi expect slow signific u | economi | continu expand first quarter outlook |
| growth | slower past cycl euro area | growth | momentum remain solid expect moder |
| growth | cours year japan sluggish wage | growth | high commod price deterior consum |
| growth | confid expect weaken domest demand | growth | emerg economi growth project moder |
| economi | weaken domest demand growth emerg | economi | growth project moder remain buoyant |
| growth | domest demand growth emerg economi | growth | project moder remain buoyant risk |
| global | remain buoyant risk outlook risk | global | growth outlook upsid broad balanc |
| growth | buoyant risk outlook risk global | growth | outlook upsid broad balanc domest |
| economi | domest demand major advanc emerg | economi | may littl stronger april project |
| growth | suggest light strong first quarter | growth | outcom howev overal risk broad |
| market | financi risk eas inflat oil | market | risk increas risk pose financi |
| market | financi crisi moder remain downsid | market | confid remain fragil financi condit |
| market | financi risk eas inflat oil | market | risk come fore notwithstand slow |
| economi | fore notwithstand slow activ advanc | economi | oil market remain tight similar |
| market | slow activ advanc economi oil | market | remain tight similar factor also |
| also | market remain tight similar factor | also | boost food price well spillov |
| market | food price well spillov energi | market | biofuel demand rise input cost |
| growth | risk present heighten downsid risk | growth | includ reduc purchas power particular |
| countri | purchas power particular commod import | countri | limit central bank room maneuv |
| polici | room maneuv increas possibl forc | polici | tighten later global imbal remain |
| global | possibl forc polici tighten later | global | imbal remain concern particular high |
| polici | current account surplus oil export | polici | challeng polici respond outlook shift |
| polici | surplus oil export polici challeng | polici | respond outlook shift balanc risk |
| polici | headlin inflat high paus fed | polici | rate cut appear warrant risk |
| polici | high uncertainti see valu keep | polici | rate firm hold emerg economi |
| economi | polici rate firm hold emerg | economi | grow inflat risk immedi concern |
| countri | low becom fair negat sever | countri | china faster appreci renminbi nomin |
| polici | term would provid scope monetari | polici | tighten help keep domest inflat |
| countri | inflat pressur check elsewher asia | countri | vietnam philippin indonesia appear fallen |
| polici | behind curv term interest rate | polici | rise inflat risk combin upsid |
| econom | broad contour assess april world | econom | outlook unchang uncertainti regard inflat |
| polici | commod price exacerb challeng face | polici | maker imf work close membership |
| polici | work close membership identifi appropri | polici | respons time polici tradeoff brought |
| polici | identifi appropri polici respons time | polici | tradeoff brought sharper focus |
| market | import meet restor order oil | market | condit taken new urgenc light |
| global | rapid volatil movement oil price | global | economi let begin discuss global |
| economi | volatil movement oil price global | economi | let begin discuss global macroeconom |
| global | global economi let begin discuss | global | macroeconom implic recent oil price |
| economi | boost inflat across globe advanc | economi | headlin inflat becom uncomfort high |
| econom | area percent unit state time | econom | activ slow notabl measur core |
| polici | expect edg higher complic monetari | polici | decis make central bank tread |
| growth | inflat support demand although slow | growth | like help eventu inflat concern |
| economi | inflat concern even serious emerg | economi | inflat pressur risen sharpli effect |
| growth | commod come top pressur strong | growth | activ risk high oil commod |
| countri | inflat secondround effect risen number | countri | boost also larg weight commod |
| also | effect risen number countri boost | also | larg weight commod price carri |
| polici | mani central bank tighten monetari | polici | stanc respons often timid result |
| countri | interest rate turn negat mani | countri | inflat object look like miss |
| also | oil commod tandem higher inflat | also | present increas downsid risk global |
| global | also present increas downsid risk | global | growth reduc purchas power well |
| growth | present increas downsid risk global | growth | reduc purchas power well increas |
| need | reduc purchas power well increas | need | monetari polici tighten contain inflat |
| polici | power well increas need monetari | polici | tighten contain inflat oil price |
| global | upward revis impli lower annual | global | growth  ½  ¾ |
| growth | revis impli lower annual global | growth | Â ½ Â ¾ percentag |
| growth | movement extend well beyond inflat | growth | extern side recent oil price |
| countri | payment difficulti fuel foodimport lowincom | countri | africa central america benefit offset |
| countri | benefit offset commod export work | countri | stand readi support lend facil |
| countri | support lend facil fiscal side | countri | resist full passthrough intern price |
| global | presenc today repres intern institut | global | membership pleasur speak countri motto |
| countri | institut global membership pleasur speak | countri | motto pro mundi beneficio world |
| countri | fall invest agricultur particular develop | countri | declin moreov low price especi |
| market | especi food stapl distort agricultur | market | discourag product particular lowincom countri |
| countri | market discourag product particular lowincom | countri | recent food price increas becom |
| econom | increas oil price pose serious | econom | polit problem slide show rapid |
| growth | past three year recent strong | growth | emerg develop countri factor rise |
| countri | recent strong growth emerg develop | countri | factor rise biofuel product advanc |
| economi | factor rise biofuel product advanc | economi | biofuel one begin see interact |
| also | price food suppli biofuel product | also | reflect generous polici support countri |
| polici | biofuel product also reflect generous | polici | support countri final high oil |
| countri | also reflect generous polici support | countri | final high oil price driven |
| countri | transport recent introduct export restrict | countri | protect domest suppli tighten world |
| market | protect domest suppli tighten world | market | condit key food crop like |
| also | specul hoard panic buy may | also | play role look ahead food |
| polici | next coupl year uncertain depend | polici | put place encourag increas product |
| global | essenti food price crisi rather | global | shortag food rapid increas food |
| economi | household spend larg develop emerg | economi | shown slide countri highlight red |
| countri | develop emerg economi shown slide | countri | highlight red orang household consumpt |
| countri | intens particular true central america | countri | tend relat larg part consumpt |
| countri | consumpt bundl alloc food within | countri | poorer spend household incom food |
| need | get food money buy food | need | regard intern respons world food |
| countri | term effort get food affect | countri | popul group within countri must |
| countri | affect countri popul group within | countri | must complement measur eas burden |
| countri | feed program foodfor work program | countri | region taken measur includ costa |
| polici | key food item must avoid | polici | negat effect countri reli food |
| countri | must avoid polici negat effect | countri | reli food import export restrict |
| countri | distort price incent discourag product | countri | also avoid general subsidi extent |
| also | price incent discourag product countri | also | avoid general subsidi extent possibl |
| need | extent possibl tend expens target | need | often becom entitl longerterm time |
| need | inflat balanc payment budget impact | need | manag countri ensur shock becom |
| countri | payment budget impact need manag | countri | ensur shock becom entrench general |
| growth | decad establish sound macroeconom environ | growth | let talk three pressur point |
| market | increas overal inflat particular emerg | market | lowincom countri central america averag |
| countri | inflat particular emerg market lowincom | countri | central america averag headlin inflat |
| countri | strain balanc payment posit mani | countri | central america net import fuel |
| need | due cours perman price shock | need | fulli pass consum produc howev |
| polici | advers shortterm impact cours task | polici | maker complic uncertainti extent recent |
| countri | rise inflat risk particular concern | countri | domest demand grow strong monetari |
| need | demand grow strong monetari author | need | give clear signal bring inflat |
| polici | bring inflat progress tighten monetari | polici | fiscal polici need tighten reinforc |
| polici | progress tighten monetari polici fiscal | polici | need tighten reinforc monetari respons |
| need | tighten monetari polici fiscal polici | need | tighten reinforc monetari respons especi |
| countri | monetari respons especi rapid grow | countri | demand pressur alreadi contribut inflat |
| need | mitig measur tough budgetari choic | need | made govern good fiscal posit |
| need | posit scope spend money other | need | rais revenu reduc type spend |
| countri | provid excus new entitl countrybi | countri | problem problem requir coordin intern |
| need | larg financi support intern communiti | need | howev import resourc addit exist |
| need | tradit divid humanitarian assist develop | need | part imf alreadi engag help |
| countri | part imf alreadi engag help | countri | address global price shock work |
| global | alreadi engag help countri address | global | price shock work activ nation |
| polici | challeng particular macroeconom front provid | polici | advic design target social measur |
| countri | measur allevi effect poorest help | countri | assess fiscal cost polici respons |
| polici | help countri assess fiscal cost | polici | respons time help countri creat |
| countri | cost polici respons time help | countri | creat fiscal space need expenditur |
| need | help countri creat fiscal space | need | expenditur maintain sound sustain macroeconom |
| polici | expenditur maintain sound sustain macroeconom | polici | advis countri author contain inflationari |
| countri | sound sustain macroeconom polici advis | countri | author contain inflationari pressur generat |
| also | second round price effect imf | also | assess net impact energi food |
| countri | impact energi food price hike | countri | balanc payment stand readi provid |
| need | readi provid rapid financi assist | need | alreadi doubl financi assist five |
| countri | doubl financi assist five lowincom | countri | increas price food import fuel |
| countri | benin discuss addit support anoth | countri | two day time board consid |
| also | consid haiti request addit support | also | consid adapt financ instrument make |
| financ | addit support also consid adapt | financ | instrument make easili access countri |
| countri | financ instrument make easili access | countri | urgent need trade polici imf |
| need | make easili access countri urgent | need | trade polici imf vocal call |
| polici | access countri urgent need trade | polici | imf vocal call elimin polici |
| polici | polici imf vocal call elimin | polici | distort global food market includ |
| global | vocal call elimin polici distort | global | food market includ elimin biofuel |
| market | elimin polici distort global food | market | includ elimin biofuel subsidi also |
| also | market includ elimin biofuel subsidi | also | press rapid ambiti conclus doha |
| global | part right thing within coher | global | framework action partnership member countri |
| countri | global framework action partnership member | countri | intern communiti imf stand readi |
| global | stand readi play role respons | global | food crisi |
| market | day present discuss caus turbul | market | later today speaker discuss lesson |
| market | lesson drawn supervisor central bank | market | particip intend preempt discuss doubt |
| global | trivial estim may vari recent | global | financi stabil report take togeth |
| market | alta loan plus structur secur | market | price imf staff estim aggreg |
| also | billion bank account rough half | also | tri rough estim loss associ |
| economi | estim loss associ downturn us | economi | linkag financi sector real sector |
| market | reveal full bloom us matur | market | deceler credit project contribut slowdown |
| growth | credit project contribut slowdown output | growth | weo estim global growth project |
| global | slowdown output growth weo estim | global | growth project moder one quarter |
| growth | output growth weo estim global | growth | project moder one quarter percent |
| also | percent lower previous year downturn | also | contribut wider credit deterior affect |
| need | one short term prioriti like | need | capit downturnsthi need sourc capit |
| need | prioriti like need capit downturnsthi | need | sourc capit larg scale midst |
| market | larg scale midst turbul financi | market | bring first theme old one |
| need | trillion mention amount bank may | need | take balanc sheet stagger let |
| countri | framework implement plan implement hundr | countri | around world exacerb procycl also |
| also | countri around world exacerb procycl | also | whether basel ii could prevent |
| countri | still transit period mani affect | countri | time current event began unfold |
| market | risk manag sounder supervis use | market | incent addit disciplin bank behavior |
| also | loss exposur would least contain | also | provid stiff disincent inappropri behavior |
| market | undermin clean break criteria signal | market | risk effect transfer supervisor requir |
| market | manag appropri second current problem | market | event clear go beyond object |
| market | manag basel ii panacea financi | market | troubl part remedi particular liquid |
| also | bank assess risk proper may | also | forc react abrupt increas risk |
| also | awar earli detect emerg vulner | also | encourag bank build capit level |
| econom | even actual problem detect sensit | econom | cycl cours risksensit capit framework |
| market | basel ii heighten turbul financi | market | transit must manag care mitig |
| econom | willing contractu perform despit advers | econom | condit occurr unexpect event risk |
| econom | bank take account uncertainti full | econom | cycl promot use rate system |
| also | second theme remark account rule | also | procycl propens deserv includ discuss |
| market | valu cannot count absenc activ | market | uniform valuat techniqu potenti put |
| also | advantag flexibl offer present rule | also | clear issu merit analysi relat |
| need | regard think episod crisi support | need | forward look method loan provis |
| also | provis best risk manag practic | also | belief challeng pose account standard |
| need | keep regulatori prescript area great | need | share experi supervisor hope take |
| market | find nontradit approach provis liquid | market | dri bank found face heighten |
| market | risk threaten solvenc recent even | market | particip outsid bank system forc |
| countri | univers optim supervisori arrang fit | countri | financi system think anoth lesson |
| need | episod whatev arrang central bank | need | access supervisori inform financi condit |
| need | regul would argu practic supervis | need | strengthen share view supervisor regulatori |
| need | share view supervisor regulatori tool | need | order address fault line appear |
| market | becom complex mirror develop financi | market | supervisor alway surround plethora red |
| market | year experi handson supervis institut | market | develop capac remain greatest challeng |
| econom | pleasur talk today remark main | econom | outlook latin america growth hold |
| growth | main econom outlook latin america | growth | hold pretti well despit success |
| econom | histor evid latin america shorterliv | econom | expans volatil busi cycl other |
| growth | shock typic explain half region | growth | varianc iii domest polici main |
| polici | region growth varianc iii domest | polici | main fiscal monetari tend amplifi |
| economi | background therefor encourag latin american | economi | sustain current expans let first |
| global | expans let first look close | global | context particular unit state see |
| global | portend region u outlook heart | global | econom outlook downturn unit state |
| econom | region u outlook heart global | econom | outlook downturn unit state averag |
| growth | outlook downturn unit state averag | growth | like fall low still posit |
| econom | level would like summar under | econom | dynam current work u offer |
| market | financi system initi mortgag secur | market | result econom dynam like play |
| econom | initi mortgag secur market result | econom | dynam like play differ typic |
| also | bank react rais new capit | also | rapid tighten standard new loan |
| polici | new loan despit substanti monetari | polici | eas taken place contract credit |
| also | place contract credit like follow | also | press demand especi household spend |
| economi | risk feed back loan loss | economi | slow dynam factor like make |
| economi | dynam real financi side us | economi | one line inquiri trace impact |
| also | unleash pressur make gradual recoveri | also | consist intern experi u experi |
| market | hous bust understand sinc hous | market | flexibl must weigh fact u |
| economi | flexibl must weigh fact u | economi | flexibl policymak react quick recent |
| economi | housingrel ushap typic seen advanc | economi | hous correct needless say tremend |
| market | strong balanc sheet u labor | market | remain except flexibl equal import |
| market | investor reflect influenc mani financi | market | indic pull back peak stress |
| market | correct yet behind us interbank | market | although improv midmarch remain stress |
| global | risk supplement recent sharp increas | global | energi commod price could depress |
| polici | inflationari pressur inevit constrain monetari | polici | option situat could still see |
| market | regist percent recent evid bond | market | suggest inflat expect creep upward |
| market | minut taken appropri cautious tone | market | perceiv eas cycl end slow |
| growth | slow activ expect u see | growth | hold well elsewher world especi |
| growth | world especi emerg asia europ | growth | china india particular although expect |
| polici | extern shock depend unit state | polici | framework tend amplifi rather dampen |
| market | clear testament progress made financi | market | side direct linkag housingrel asset |
| global | distress credit product center storm | global | financi market part result good |
| market | product center storm global financi | market | part result good fortun less |
| also | fortun less develop financi system | also | due improv supervis regul framework |
| countri | improv supervis regul framework mani | countri | region financi vulner perspect region |
| also | region financi vulner perspect region | also | protect stronger fiscal extern posit |
| financ | extern posit seen generat sovereign | financ | need declin substanti fiscal posit |
| need | posit seen generat sovereign financ | need | declin substanti fiscal posit debt |
| financ | corpor sector becom depend foreign | financ | late corpor bond spread higher |
| market | bond spread higher mid access | market | somewhat curtail direct trade linkag |
| countri | past although mexico central american | countri | still remain close tie u |
| growth | would certain signific impact falter | growth | china asia whole concomit effect |
| growth | much latin america recent export | growth | reflect boom commod price expans |
| economi | share manufactur output crowd mani | economi | becom high depend hydrocarbon miner |
| global | revers commod price seen previous | global | slowdown would put substanti pressur |
| financ | fiscal extern deficit time extern | financ | would potenti difficult obtain would |
| econom | obtain would amplifi region downturn | econom | growth summari financi shock latin |
| growth | would amplifi region downturn econom | growth | summari financi shock latin america |
| economi | drive price quick higher emerg | economi | especi exchang rate less flexibl |
| growth | flexibl howev high domest demand | growth | also general major factor latin |
| also | howev high domest demand growth | also | general major factor latin america |
| countri | incom improv term trade mani | countri | impetus provid capit inflow past |
| countri | inflat rate reach doubledigit number | countri | other inflat rise comfort level |
| polici | region central bank context burden | polici | maker ensur initi impact suppli |
| polici | suppli shock price contain macroeconom | polici | success prevent higher inflat becom |
| polici | remain anchor testament credibl monetari | polici | framework similar mexico polici rate |
| polici | monetari polici framework similar mexico | polici | rate remain posit real term |
| polici | remain posit real term monetari | polici | well direct inflat converg back |
| polici | howev challeng inflat rais monetari | polici | issu said much current inflationari |
| need | lower incom household therefor govern | need | proactiv recogn distribut impact particular |
| need | social transfer program believ program | need | high fiscal cost effect experi |
| global | import tool protect poor higher | global | food fuel price els done |
| growth | extern shock key concern credit | growth | region rapid averag percent mani |
| countri | region rapid averag percent mani | countri | especi concentr consum credit ad |
| also | level intern standard catchup involv | also | import regulatori improv region bank |
| financ | improv intern risk manag system | financ | credit growth predomin domest rather |
| growth | risk manag system financ credit | growth | predomin domest rather extern fund |
| countri | public expenditur mani latin american | countri | grown rapid recent econom expans |
| econom | american countri grown rapid recent | econom | expans compound demand pressur limit |
| econom | limit room countercycl fiscal respons | econom | slowdown far expenditur growth accompani |
| growth | respons econom slowdown far expenditur | growth | accompani rise revenu prevent deterior |
| countri | begin fall henc sens mani | countri | need greater conservat public spend |
| need | fall henc sens mani countri | need | greater conservat public spend growth |
| growth | need greater conservat public spend | growth | prioriti protect recent fiscal gain |
| global | recent fiscal gain potenti deterior | global | econom condit slow growth current |
| econom | fiscal gain potenti deterior global | econom | condit slow growth current expenditur |
| growth | deterior global econom condit slow | growth | current expenditur effici mechan deliv |
| global | behind invest product kept pace | global | trend doubl per capita incom |
| need | perspect east asia latin america | need | doubl product perform simultan increas |
| countri | america remain much lower develop | countri | averag one third east asia |
| growth | east asia perhap signific product | growth | sinc earli although rise onethird |
| market | rise onethird onehalf dynam emerg | market | region inde mani case product |
| need | widen recent year invest particular | need | industri add valu region commod |
| need | major constraint competit spend infrastructur | need | includ innov program privat public |
| also | innov program privat public partnership | also | better spend need improv mechan |
| need | public partnership also better spend | need | improv mechan qualiti control project |
| also | trade entri barrier privat invest | also | product improv educ fundament import |
| growth | qualiti lag educ key longterm | growth | also central believ mitig pervas |
| also | lag educ key longterm growth | also | central believ mitig pervas inequ |
| global | inequ still affect region increas | global | economi labor skill command premium |
| economi | still affect region increas global | economi | labor skill command premium substanti |
| growth | goal sum envisag slowdown region | growth | year next larger immedi polici |
| polici | growth year next larger immedi | polici | challeng may rise inflationari pressur |
| need | challeng may rise inflationari pressur | need | kept check howev assess region |
| polici | kept check howev assess region | polici | maker focus safeguard stabil gain |
| global | recent year latin america resili | global | shock face past episod volatil |
| global | climat chang potenti catastroph | global | extern one world greatest collect |
| countri | chang distribut high uneven across | countri | advanc countri account current stock |
| countri | high uneven across countri advanc | countri | account current stock greenhous gas |
| countri | burn fossil fuel emerg develop | countri | drive growth emiss expect hit |
| growth | fuel emerg develop countri drive | growth | emiss expect hit earlier harder |
| global | chang high uncertain may catastroph | global | warm uncheck cost abat climat |
| also | uncheck cost abat climat chang | also | uncertain conting gamut factor includ |
| countri | gamut factor includ rate individu | countri | global economi whole grow long |
| global | factor includ rate individu countri | global | economi whole grow long term |
| economi | includ rate individu countri global | economi | whole grow long term pace |
| countri | macroeconom fiscal financi challeng lowincom | countri | countri vulner climat chang locat |
| countri | fiscal financi challeng lowincom countri | countri | vulner climat chang locat alreadi |
| also | climatesensit sector agricultur forestri tourism | also | limit capac adapt climat chang |
| countri | chang come year mani african | countri | like experi sever drought declin |
| countri | livelihood health water system african | countri | may also come increas stress |
| also | water system african countri may | also | come increas stress come decad |
| global | increas hunger among potenti problem | global | warm risk world agricultur therefor |
| countri | recent estim suggest effect greater | countri | locat closer equat potenti larg |
| countri | potenti larg loss africa poorest | countri | damag measur reduct agricultur product |
| countri | reach devast level greater percent | countri | effort adapt climat chang must |
| econom | must fit broad develop agenda | econom | social develop one power way |
| need | incom level creat fiscal space | need | meet addit demand public spend |
| econom | fiscal implic climat chang enhanc | econom | growth improv capac deal climat |
| growth | implic climat chang enhanc econom | growth | improv capac deal climat chang |
| countri | capac deal climat chang develop | countri | must remov impedi domest agricultur |
| also | remov impedi domest agricultur product | also | import light current food crisi |
| countri | system remov barrier trade time | countri | avoid direct price export control |
| countri | product run counter longterm goal | countri | pursu increas financi capacitybuild assist |
| need | pursu increas financi capacitybuild assist | need | support adapt climat chang particular |
| countri | chang particular least develop climateexpos | countri | fund creat end remain modest |
| countri | surround estim adapt cost develop | countri | cost estim rudimentari subject uncertainti |
| countri | rudimentari subject uncertainti case individu | countri | current collect estim stand sever |
| countri | exist invest climat chang develop | countri | billion per year perhap third |
| global | account mitig climat chang serious | global | effort reduc emiss greenhous gase |
| also | gase drive climat chang could | also | widerang macroeconom consequ reduc emiss |
| global | requir put price emiss reflect | global | damag caus would rais cost |
| econom | emissionintens product imf april world | econom | outlook examin macroeconom effect mitig |
| polici | outlook examin macroeconom effect mitig | polici | includ product save invest capit |
| polici | illustr lesson minim cost find | polici | credibl result appropri price emiss |
| polici | offset rise spend pressur adapt | polici | also avoid excess volatil price |
| also | rise spend pressur adapt polici | also | avoid excess volatil price provid |
| countri | particip without put undu burden | countri | least abl bear africa among |
| need | nevertheless collect mitig effort highlight | need | mani african countri elimin remain |
| countri | effort highlight need mani african | countri | elimin remain fuel subsidi someth |
| countri | desir fiscal distribut ground lowincom | countri | includ africa readi engag global |
| global | countri includ africa readi engag | global | effort mitig climat chang would |
| global | scope mitig africa small relat | global | emiss postkyoto framework mitig climat |
| countri | develop mechan would allow advanc | countri | gain credit invest lowcarbon technolog |
| countri | technolog form emiss reduct develop | countri | mechan could help promot develop |
| countri | promot develop ad capit stock | countri | reduc local pollut take full |
| countri | framework manag effect engag lowincom | countri | global mitig effort could result |
| global | manag effect engag lowincom countri | global | mitig effort could result sizabl |
| countri | result sizabl financi transfer toward | countri | compens undertak emiss reduct although |
| countri | reach around percent gdp african | countri | foreign exchang inflow prove larg |
| countri | exchang inflow prove larg recipi | countri | would need consid best accommod |
| need | prove larg recipi countri would | need | consid best accommod macroeconom framework |
| also | two addit center fund aim | also | increas understand difficult issu fiscal |
| polici | increas understand difficult issu fiscal | polici | cooper design like aris negoti |
| countri | activ like main demanddriven focus | countri | impact climat chang domest extern |
| countri | extern stabil signific facilit exchang | countri | experi imf stand readi provid |
| countri | readi provid financi assist member | countri | respons rang macroeconom disturb includ |
| polici | exogen shock facil esf provid | polici | support financi assist lowincom countri |
| countri | polici support financi assist lowincom | countri | fund staff current review esf |
| need | esf facil abl respond flexibl | need | member includ respons recent rapid |
| countri | ahead fund adapt help member | countri | respond challeng global warm sum |
| global | help member countri respond challeng | global | warm sum imf commit play |
| econom | fund provid financi support iraq | econom | program emerg postconflict assist septemb |
| econom | framework main object iraq fundsupport | econom | program achiev macroeconom stabil ii |
| growth | achiev macroeconom stabil ii promot | growth | iii begin process structur reform |
| also | increas earlier adjust late progress | also | continu made structur reform amend |
| countri | last year financi sector audit | countri | two largest state bank rafidain |
| need | invest plan develop privat sector | need | sustain econom growth provid job |
| econom | develop privat sector need sustain | econom | growth provid job iraq mani |
| growth | privat sector need sustain econom | growth | provid job iraq mani unemploy |
| economi | spend must kept control level | economi | sustain without reignit inflat look |
| econom | program track help iraq secur | econom | reform object achiev longterm debt |
| need | justifi order secur fiscal space | need | financ iraq reconstruct fund continu |
| financ | order secur fiscal space need | financ | iraq reconstruct fund continu support |
| polici | intern compact iraq mediumterm macroeconom | polici | framework support standbi arrang also |
| also | polici framework support standbi arrang | also | continu provid polici advic technic |
| polici | standbi arrang also continu provid | polici | advic technic assist cours past |
| econom | togeth help iraqi govern achiev | econom | goal two program joint carri |
| econom | joint carri forward expect success | econom | front conclus wish iraqi author |
| market | prepar deliverytwo forc financi | market | turmoil sharp rise energi commod |
| global | price combin past year push | global | economi path solid growth low |
| economi | combin past year push global | economi | path solid growth low inflat |
| growth | push global economi path solid | growth | low inflat prevail sinc accord |
| econom | sinc accord imf latest world | econom | outlook forecast growth g economi |
| growth | latest world econom outlook forecast | growth | g economi slow belowtrend pace |
| economi | econom outlook forecast growth g | economi | slow belowtrend pace year final |
| growth | goal moreov accord imf forecast | growth | emerg economi slow well even |
| economi | accord imf forecast growth emerg | economi | slow well even though averag |
| growth | slow well even though averag | growth | pace remain substanti faster advanc |
| economi | pace remain substanti faster advanc | economi | thus princip goal imf multilater |
| global | princip goal imf multilater consult | global | imbal sustain global growth reduc |
| global | multilater consult global imbal sustain | global | growth reduc global payment imbal |
| growth | consult global imbal sustain global | growth | reduc global payment imbal attain |
| global | imbal sustain global growth reduc | global | payment imbal attain hope inde |
| global | imbal attain hope inde risk | global | growth weaken even general anticip |
| growth | attain hope inde risk global | growth | weaken even general anticip take |
| global | issu whether desir path solid | global | growth low inflat restor time |
| growth | whether desir path solid global | growth | low inflat restor time soon |
| polici | restor time soon whether new | polici | initi requir order attain goal |
| global | necessari order restor normal function | global | financi market reduc accept degre |
| market | restor normal function global financi | market | reduc accept degre risk futur |
| market | accept degre risk futur financi | market | turmoil third address briefli implic |
| global | third address briefli implic chang | global | econom financi landscap asia global |
| econom | address briefli implic chang global | econom | financi landscap asia global imbal |
| global | global econom financi landscap asia | global | imbal global growth slowdownin address |
| global | financi landscap asia global imbal | global | growth slowdownin address first issu |
| growth | landscap asia global imbal global | growth | slowdownin address first issu prospect |
| global | first issu prospect return solid | global | growth low inflat fund colleagu |
| growth | issu prospect return solid global | growth | low inflat fund colleagu conclud |
| global | remain consist mani import way | global | adjust path map multilater consult |
| polici | saudi arabia engag seri confidenti | polici | discuss began late effort culmin |
| polici | april promulg set mutual consist | polici | plan intend attain consult dual |
| global | attain consult dual goal sustain | global | growth reduc imbal despit current |
| growth | consult dual goal sustain global | growth | reduc imbal despit current challeng |
| global | challeng imf colleagu convinc return | global | econom progress achiev earlier decad |
| econom | imf colleagu convinc return global | econom | progress achiev earlier decad remain |
| polici | goal achiev requir time new | polici | initi moreov risk less favor |
| need | favor outcom remain signific make | need | appropri polici measur compel basic |
| polici | remain signific make need appropri | polici | measur compel basic premis consult |
| polici | measur compel basic premis consult | polici | discuss global growth sustain reduc |
| global | basic premis consult polici discuss | global | growth sustain reduc global imbal |
| growth | premis consult polici discuss global | growth | sustain reduc global imbal princip |
| global | discuss global growth sustain reduc | global | imbal princip sourc growth would |
| growth | reduc global imbal princip sourc | growth | would shift surplus deficit economi |
| economi | growth would shift surplus deficit | economi | word attain consult dual goal |
| economi | requir import structur alter major | economi | particular individu polici plan consult |
| polici | alter major economi particular individu | polici | plan consult particip broad term |
| need | particip broad term anticip likelihood | need | sustain rise rate us household |
| growth | current incom associ slowdown trend | growth | rate us consum spend relat |
| growth | spend relat shift sourc us | growth | away domest demand favor net |
| also | part process least near term | also | expect fundament shift like would |
| global | brusqu volatil fashion less favor | global | context intend nonetheless current broad |
| econom | context intend nonetheless current broad | econom | trend view consult particip inevit |
| economi | unit state substanti tie asian | economi | whose currenc undervalu accord fund |
| growth | reflect part virtual stagnat us | growth | recent quarter time headlin inflat |
| growth | achiev consult goal restor us | growth | trend pace persist weak us |
| growth | trend pace persist weak us | growth | would signific inhibit return trend |
| growth | would signific inhibit return trend | growth | advanc economi could undermin growth |
| economi | inhibit return trend growth advanc | economi | could undermin growth emerg economi |
| growth | growth advanc economi could undermin | growth | emerg economi well restor us |
| economi | economi could undermin growth emerg | economi | well restor us growth requir |
| growth | emerg economi well restor us | growth | requir among thing end price |
| also | residenti real estat still underway | also | requir return normal condit credit |
| market | requir return normal condit credit | market | restor consum confid attain result |
| global | us author howev restor sustain | global | expans trend growth accompani low |
| growth | restor sustain global expans trend | growth | accompani low stabl inflat declin |
| global | accompani low stabl inflat declin | global | imbal requir stronger domest demand |
| growth | imbal requir stronger domest demand | growth | advanc economi outsid us need |
| economi | stronger domest demand growth advanc | economi | outsid us need anticip clear |
| need | growth advanc economi outsid us | need | anticip clear multilater consult discuss |
| polici | anticip clear multilater consult discuss | polici | plan consult particip present public |
| polici | public april includ detail set | polici | design promot outcom exampl clear |
| economi | exampl clear anticip key asian | economi | peg exchang rate would increas |
| polici | respect basket currenc time flank | polici | implement particip economi outsid unit |
| economi | time flank polici implement particip | economi | outsid unit state would strengthen |
| growth | state would strengthen domest demand | growth | includ measur would boost product |
| growth | includ measur would boost product | growth | improv effici resourc alloc event |
| polici | improv effici resourc alloc event | polici | mani case implement forc anticip |
| growth | produc sustain stronger domest demand | growth | major surplus economi could result |
| economi | domest demand growth major surplus | economi | could result slower global growth |
| global | surplus economi could result slower | global | growth sustain imbal eventu would |
| growth | economi could result slower global | growth | sustain imbal eventu would tend |
| econom | confid investor consum potenti heighten | econom | financi volatil therefor see risk |
| economi | rather shift new one particular | economi | flexibl exchang rate like euro |
| economi | moreov concern new imbal build | economi | less absorpt capac thinner financi |
| market | less absorpt capac thinner financi | market | less establish polici credibl exampl |
| polici | thinner financi market less establish | polici | credibl exampl emerg market broad |
| market | establish polici credibl exampl emerg | market | broad implic analysi reason straightforward |
| growth | must make sure downsid risk | growth | advanc economi avoid growth restor |
| economi | sure downsid risk growth advanc | economi | avoid growth restor trend pace |
| growth | risk growth advanc economi avoid | growth | restor trend pace time challeng |
| polici | must face squar howev progrowth | polici | may adopt consist under structur |
| growth | consist under structur shift sourc | growth | need recoveri help reduc imbal |
| need | under structur shift sourc growth | need | recoveri help reduc imbal promot |
| economi | alreadi shift evid far us | economi | one serious affect growth slowdown |
| growth | us economi one serious affect | growth | slowdown still broad consist shift |
| polici | embodi multilater consult broad term | polici | roadmap exist alreadi need implement |
| need | term polici roadmap exist alreadi | need | implement effect restor stabil progress |
| global | import element strain cloud prospect | global | growth stabil ongo turmoil global |
| growth | element strain cloud prospect global | growth | stabil ongo turmoil global capit |
| global | global growth stabil ongo turmoil | global | capit market although market seem |
| market | stabil ongo turmoil global capit | market | although market seem less volatil |
| market | turmoil global capit market although | market | seem less volatil recent especi |
| polici | consult provid roadmap macroeconom structur | polici | need restor global growth reduc |
| need | provid roadmap macroeconom structur polici | need | restor global growth reduc imbal |
| global | macroeconom structur polici need restor | global | growth reduc imbal set plan |
| growth | structur polici need restor global | growth | reduc imbal set plan deal |
| market | imbal set plan deal financi | market | disrupt develop financi stabil forum |
| need | element plan indic central bank | need | remain support interbank market ensur |
| market | bank need remain support interbank | market | ensur market seiz time take |
| market | remain support interbank market ensur | market | seiz time take care avoid |
| need | year provid use illustr supervisor | need | take forc step enhanc disclosur |
| market | disclosur bank financi institut reassur | market | system sound larg bank success |
| also | attract addit capit exist sharehold | also | shrink curb dividend help rebuild |
| need | help rebuild balanc sheet regul | need | prepar take earli action deal |
| need | institut border final fiscal author | need | develop conting plan deal potenti |
| need | exampl time must lose sight | need | fundament mediumterm step help avoid |
| need | avoid futur episod see prioriti | need | follow area first credit disciplin |
| need | follow area first credit disciplin | need | strengthen recent u propos tighten |
| need | rate agenc financi standard setter | need | look close structur credit product |
| need | taken account second supervisor regul | need | ensur financi institut employ better |
| need | asset balanc sheet time supervisor | need | proactiv ensur bank take excess |
| financ | third central bank supervisor ministri | financ | need improv financi safeti net |
| need | central bank supervisor ministri financ | need | improv financi safeti net crisi |
| need | bank deposit insur bank resolut | need | design way avoid problem one |
| also | system whole recent u experi | also | illustr financi safeti net crisi |
| need | net crisi manag framework may | need | cast wider take account grow |
| polici | import nonbank financi institut encourag | polici | messag given strong multilater endors |
| financ | endors includ imf membership g | financ | minist week ago g support |
| countri | supervisori colleg enhanc coordin among | countri | step welcom believ strong determin |
| also | macroeconom effect present crisi manag | also | help crisi proof intern system |
| need | help crisi proof intern system | need | incorpor ongo financi innov rapid |
| global | immedi focus restor normal function | global | financi market key author shown |
| market | restor normal function global financi | market | key author shown willing react |
| need | perhap extraordinari measur still may | need | implic asiahav cover recent financi |
| global | crisi broader issu shift pattern | global | capit flow current account imbal |
| market | difficulti access local loan debt | market | investor sentiment toward asia remain |
| market | remain posit certain segment credit | market | dri securit asset sign serious |
| financ | experi reflect sever factor securit | financ | model less preval asia sinc |
| also | tradit bank servic financi crisi | also | may encourag greater conservat moreov |
| global | problem elsewher said asia delink | global | capit market turbul last year |
| market | said asia delink global capit | market | turbul last year despit recent |
| also | risen general yenfund carri trade | also | unwound lead higher volatil strengthen |
| global | yen nonetheless despit spillov expect | global | imbal resolv asian capit market |
| market | global imbal resolv asian capit | market | like take greater role intermedi |
| market | grow use region borrow samurai | market | tokyo well local bond market |
| market | market tokyo well local bond | market | region order facilit process reduc |
| need | process reduc risk instabl care | need | asia elsewher requir effect disclosur |
| also | net robust time policymak region | also | need mind macroeconom environ sign |
| need | robust time policymak region also | need | mind macroeconom environ sign asia |
| countri | solut grow inflat pressur mani | countri | region face provid ampl illustr |
| polici | illustr potenti cost subordin monetari | polici | limit exchang rate adjust flank |
| polici | limit exchang rate adjust flank | polici | rigor appli cours want emphas |
| also | competit strengthen financi system asia | also | crucial capit market mani asian |
| market | system asia also crucial capit | market | mani asian countri still relat |
| countri | crucial capit market mani asian | countri | still relat underdevelop constrain limit |
| economi | reli heavili financi sector develop | economi | europ north america intermedi excess |
| market | financi sector reform prioriti develop | market | infrastructur harmon tax regulatori supervisori |
| market | cooper financi integr asian bond | market | initi establish reserv pool mechan |
| countri | asia well harmon document across | countri | futur obvious hold great opportun |
| economi | obvious hold great opportun asian | economi | financi market success multilater policymak |
| market | great opportun asian economi financi | market | success multilater policymak would mean |
| global | policymak would mean return solid | global | growth low inflat reduc imbal |
| growth | would mean return solid global | growth | low inflat reduc imbal reduct |
| global | low inflat reduc imbal reduct | global | imbal impli reduc net crossbord |
| economi | dynam multipolar world world asian | economi | financi market play everincreas role |
| market | world world asian economi financi | market | play everincreas role key conclusionsther |
| market | although see sign normal credit | market | still see serious risk global |
| global | market still see serious risk | global | financi stabil polici maker need |
| polici | serious risk global financi stabil | polici | maker need avoid complac take |
| need | global financi stabil polici maker | need | avoid complac take step restor |
| market | downdraft u subprim crisi capit | market | interlink would prudent act proactiv |
| global | durabl impli signific shift pattern | global | capit flow prospect offer asia |
| market | opportun enhanc integr region capit | market | boost return asia impress save |
| market | continu commit reform especi financi | market | well macroeconom exchang rate polici |
| polici | market well macroeconom exchang rate | polici | facilit sustain pattern savinginvest flow |
| global | recent week regard key aspect | global | econom outlook particular wide agre |
| econom | week regard key aspect global | econom | outlook particular wide agre global |
| global | econom outlook particular wide agre | global | growth slow reflect asset price |
| growth | outlook particular wide agre global | growth | slow reflect asset price declin |
| market | price declin especi us hous | market | global equiti market associ financi |
| global | declin especi us hous market | global | equiti market associ financi market |
| market | us hous market global equiti | market | associ financi market turmoil plus |
| market | global equiti market associ financi | market | turmoil plus rise energi commod |
| growth | slowdown felt keen unit state | growth | region world slow accord imf |
| econom | slow accord imf latest world | econom | outlook global output growth slow |
| global | imf latest world econom outlook | global | output growth slow full percentag |
| growth | world econom outlook global output | growth | slow full percentag point  |
| growth | pace despit broad consensus slow | growth | signific uncertainti regard inflat past |
| global | uncertainti regard inflat past weaken | global | growth typic associ reced inflat |
| growth | regard inflat past weaken global | growth | typic associ reced inflat pressur |
| global | accord imf intern financi statist | global | consum price inflat run annual |
| econom | serious creat potenti signific challeng | econom | stabil could undermin prospect restor |
| growth | undermin prospect restor combin solid | growth | low inflat prevail earlier decad |
| global | issu stark inflat risk reemerg | global | challeng follow long absenc rise |
| global | relat price shift reflect longlast | global | demand suppli trend case get |
| econom | chang appropri minim result overal | econom | financi disrupt prevent deterior longterm |
| polici | character current circumst second exist | polici | creat least current price pressur |
| polici | least current price pressur particular | polici | may caus market distort explain |
| market | pressur particular polici may caus | market | distort explain relat price shift |
| polici | price rise fastest may requir | polici | support case specif polici avail |
| polici | requir polici support case specif | polici | avail would tend amelior recent |
| also | amelior recent price shift conclus | also | appear justifi present third possibl |
| global | expect andor reflect incipi overh | global | economi word possibl current period |
| economi | andor reflect incipi overh global | economi | word possibl current period bear |
| polici | hand thus central banker fiscal | polici | author need pay close attent |
| need | central banker fiscal polici author | need | pay close attent potenti inflat |
| polici | inflat pressur would justifi decis | polici | respons lest impress gain global |
| global | polici respons lest impress gain | global | stabil attain recent year sacrif |
| countri | year sacrif goal imf member | countri | return global economi path strong |
| global | goal imf member countri return | global | economi path strong stabl growth |
| economi | imf member countri return global | economi | path strong stabl growth accompani |
| growth | global economi path strong stabl | growth | accompani low stabl inflat princip |
| polici | current circumst requir coher set | polici | respons across broad front includ |
| market | includ structur measur design improv | market | effici well possibl monetari fiscal |
| polici | effici well possibl monetari fiscal | polici | adjust stake high respons effort |
| global | high respons effort inevit share | global | factor behind recent commod price |
| global | behind recent commod price develop | global | inflationwhi time global economi slow |
| global | price develop global inflationwhi time | global | economi slow largest economi brink |
| economi | develop global inflationwhi time global | economi | slow largest economi brink recess |
| economi | time global economi slow largest | economi | brink recess energi commod price |
| growth | remain robust reflect especi strong | growth | emerg develop economi led china |
| economi | especi strong growth emerg develop | economi | led china india economi growth |
| economi | develop economi led china india | economi | growth energi commodityintens develop economi |
| growth | economi led china india economi | growth | energi commodityintens develop economi fact |
| economi | economi growth energi commodityintens develop | economi | fact emerg develop economi group |
| economi | develop economi fact emerg develop | economi | group account percent growth demand |
| growth | develop economi group account percent | growth | demand oil sinc prospect continu |
| economi | prospect continu relat strong expans | economi | suggest demand growth energi commod |
| growth | strong expans economi suggest demand | growth | energi commod remain solid even |
| global | energi commod remain solid even | global | growth slow time suppli respons |
| growth | commod remain solid even global | growth | slow time suppli respons rise |
| market | invest new capac increas signific | market | estim suggest averag field explor |
| market | spare capac inventori dwindl oil | market | becom high sensit news suppli |
| also | percent case food suppli constraint | also | relev agricultur product cost associ |
| also | factor drought bad harvest region | also | play role said histor standard |
| polici | respons may requir new invest | polici | reform inevit take time hope |
| also | even price retreat signific howev | also | indic humanitarian challeng higher food |
| global | fell percent second half slow | global | manufactur activ recoveri inventori low |
| countri | demand side mani emerg develop | countri | adopt polici hinder full passthrough |
| polici | mani emerg develop countri adopt | polici | hinder full passthrough intern price |
| economi | research suggest sampl emerg develop | economi | fewer half allow full passthrough |
| polici | longer run suppli side nation | polici | affect domest invest climat influenc |
| countri | invest new oil capac higher | countri | better invest climat stronger corpor |
| polici | sector govern respect food biofuel | polici | advanc economi spill price key |
| economi | respect food biofuel polici advanc | economi | spill price key food item |
| econom | judgment complex howev subsidi promot | econom | effici offset inflationari impact polici |
| polici | econom effici offset inflationari impact | polici | emerg economi also play role |
| economi | offset inflationari impact polici emerg | economi | also play role runup food |
| also | inflationari impact polici emerg economi | also | play role runup food price |
| market | invest extens govern involv price | market | distribut key cropproduc countri limit |
| countri | price market distribut key cropproduc | countri | limit dynam food product case |
| economi | agricultur product low mani emerg | economi | asia exampl industri product  |
| economi | Â ½ time nonasian advanc | economi | without doubt scope substanti improv |
| countri | popul suffici food negat effect | countri | reli food import includ poorest |
| countri | reli food import includ poorest | countri | high vulner popul case rice |
| market | vulner popul case rice export | market | small segment preliminari estim suggest |
| also | percent recent increas price restrict | also | reduc incent increas product export |
| countri | reduc incent increas product export | countri | final recent month financi factor |
| also | increas demand exchang rate shift | also | appear influenc commod price exampl |
| global | earlier overvalu prove support reduct | global | payment imbal eas us monetari |
| polici | payment imbal eas us monetari | polici | also tend generat eas monetari |
| also | imbal eas us monetari polici | also | tend generat eas monetari condit |
| countri | tend generat eas monetari condit | countri | currenc close link dollar economi |
| economi | countri currenc close link dollar | economi | asia middl east rise commod |
| polici | pressur eas condit made monetari | polici | overlyaccommod tackl problem polici challengesso |
| polici | monetari polici overlyaccommod tackl problem | polici | challengesso problem best tackl fund |
| polici | problem best tackl fund view | polici | need adjust realiti perman relat |
| need | best tackl fund view polici | need | adjust realiti perman relat price |
| market | promot inevit demand respons chang | market | condit encourag conserv time welltarget |
| polici | condit encourag conserv time welltarget | polici | support put place protect vulner |
| polici | place protect vulner group second | polici | need foster invest oil sector |
| need | protect vulner group second polici | need | foster invest oil sector energi |
| countri | oil produc particular emerg develop | countri | ensur invest regim stabl predict |
| market | facilit establish order predict transpar | market | improv data dissemin demand suppli |
| polici | allow greater overal effici addit | polici | increas conserv energi effici would |
| growth | energi effici would help moder | growth | energi demand fourth agricultur polici |
| polici | growth energi demand fourth agricultur | polici | improv mani emerg develop countri |
| countri | polici improv mani emerg develop | countri | absent suffici infrastructur increas cultiv |
| market | boost product bring agricultur product | market | suppli respons countri may remain |
| countri | agricultur product market suppli respons | countri | may remain elus thus polici |
| polici | countri may remain elus thus | polici | aim upgrad infrastructur distribut storag |
| countri | fertil time subsid product advanc | countri | phase time rather continu undercut |
| economi | undercut product incent develop emerg | economi | macroeconom polici also critic unit |
| polici | incent develop emerg economi macroeconom | polici | also critic unit state polici |
| also | develop emerg economi macroeconom polici | also | critic unit state polici interest |
| polici | polici also critic unit state | polici | interest rate reduc signific growth |
| growth | polici interest rate reduc signific | growth | outlook deterior us growth recov |
| growth | signific growth outlook deterior us | growth | recov develop inflat inflat expect |
| growth | sector vital limit downsid risk | growth | hous sector financi system euro |
| polici | inflat outlook appropri central ecb | polici | consider polici prospect could shift |
| polici | appropri central ecb polici consider | polici | prospect could shift howev inflat |
| growth | expect remain well anchor slow | growth | reduc inflat pressur japan core |
| growth | low percent given uncertainti concern | growth | prospect bank japan polici expect |
| polici | concern growth prospect bank japan | polici | expect chang soon emerg economi |
| economi | polici expect chang soon emerg | economi | currenc close link dollar face |
| polici | dollar face overh concern macroeconom | polici | need tighten respons general inflat |
| need | face overh concern macroeconom polici | need | tighten respons general inflat pressur |
| polici | greater scope effect stabil monetari | polici | action among middl eastern commod |
| polici | conclud remark provis financi assist | polici | advic countri negat affect latest |
| countri | provis financi assist polici advic | countri | negat affect latest intern price |
| countri | current activ discuss lowincom member | countri | regard possibl balanc payment financ |
| financ | countri regard possibl balanc payment | financ | econom research aim better understand |
| econom | regard possibl balanc payment financ | econom | research aim better understand caus |
| global | th annual oecdworld bank groupimf | global | bond market forum topic confer |
| market | oecdworld bank groupimf global bond | market | forum topic confer particular time |
| global | confer particular time given current | global | market turbul import liquid today |
| market | particular time given current global | market | turbul import liquid today financi |
| market | turbul import liquid today financi | market | prolong period sustain econom growth |
| econom | financi market prolong period sustain | econom | growth rapid financi innov global |
| growth | market prolong period sustain econom | growth | rapid financi innov global financi |
| global | econom growth rapid financi innov | global | financi stabil face signific test |
| market | bank activ dramat expand secur | market | falter simultan asset price declin |
| market | asset price declin caus stress | market | virtual across board sector secur |
| market | virtual across board sector secur | market | becom effect immobil time sever |
| market | signific financi innov eventu subject | market | stress test innov surviv sometim |
| market | entir system sure current period | market | turmoil repres signific test alreadi |
| market | unusu benign period latest episod | market | stress expos lax underwrit standard |
| market | origin investor result serious declin | market | liquid moreov uncertainti arisen regard |
| market | moreov uncertainti arisen regard latest | market | innov surviv come year expect |
| market | come year expect current bout | market | stress given rise serious question |
| market | draw implic latest develop emerg | market | pleas note emerg market economi |
| market | emerg market pleas note emerg | market | economi far proven broad resili |
| economi | market pleas note emerg market | economi | far proven broad resili nevertheless |
| global | avers liquid retrench ongo turbul | global | capit market affect em financi |
| market | retrench ongo turbul global capit | market | affect em financi market higher |
| market | capit market affect em financi | market | higher volatil increas yield sharpli |
| global | interdepend risk transmiss increas integr | global | financi market key question emerg |
| market | transmiss increas integr global financi | market | key question emerg market author |
| market | financi market key question emerg | market | author best protect economi market |
| economi | emerg market author best protect | economi | market disrupt shortterm would endors |
| market | market author best protect economi | market | disrupt shortterm would endors close |
| market | longrun deep liquid local capit | market | emerg economi could act need |
| economi | liquid local capit market emerg | economi | could act need stabil potenti |
| need | market emerg economi could act | need | stabil potenti substitut hypothet drop |
| market | drop extern bond issuanc emerg | market | bank corpor fact mani emerg |
| economi | bank corpor fact mani emerg | economi | pursu polici recent year broaden |
| polici | fact mani emerg economi pursu | polici | recent year broaden deepen local |
| market | year broaden deepen local capit | market | respons local debt market grown |
| market | capit market respons local debt | market | grown rapid outstand stock domest |
| market | local currenc debt issuanc emerg | market | countri yet translat adequ secondari |
| countri | currenc debt issuanc emerg market | countri | yet translat adequ secondari market |
| market | countri yet translat adequ secondari | market | liquid fact lack liquid remain |
| market | remain major obstacl develop mani | market | typic liquid decreas soon market |
| market | market typic liquid decreas soon | market | debut secur true even market |
| market | market debut secur true even | market | sovereign well establish benchmark price |
| market | see advantag rais fund bond | market | lack repo deriv market also |
| market | bond market lack repo deriv | market | also inhibit liquid cash market |
| also | market lack repo deriv market | also | inhibit liquid cash market mani |
| market | market also inhibit liquid cash | market | mani larg local investor adopt |
| market | requir establish liquid well function | market | long term govern corpor debt |
| market | interest promot deepen emerg bond | market | recent year fund assist sever |
| market | year fund assist sever emerg | market | countri establish enabl environ area |
| countri | fund assist sever emerg market | countri | establish enabl environ area sovereign |
| market | action plan develop domest bond | market | also work import initi auspic |
| also | plan develop domest bond market | also | work import initi auspic fund |
| market | import initi auspic fund capit | market | consult group cmcg cochair work |
| global | ceo banco itaú project entitl | global | emerg capit market opportun challeng |
| market | project entitl global emerg capit | market | opportun challeng respons relev confer |
| market | sector perspect major impedi capit | market | develop emerg market countri market |
| market | impedi capit market develop emerg | market | countri market particip gain exposur |
| countri | capit market develop emerg market | countri | market particip gain exposur market |
| market | market develop emerg market countri | market | particip gain exposur market via |
| market | countri market particip gain exposur | market | via various access instrument relat |
| polici | via various access instrument relat | polici | perspect studi find high cost |
| market | studi find high cost access | market | symptomat divers tax treatment invest |
| market | invest restrict capit control ineffici | market | infrastructur report stress import eas |
| market | stress import eas access local | market | lower transact cost broaden local |
| also | local institut investor base fund | also | glean import lesson current crisi |
| polici | import lesson current crisi enrich | polici | advic member countri notabl rapid |
| countri | crisi enrich polici advic member | countri | notabl rapid growth local bond |
| growth | advic member countri notabl rapid | growth | local bond market emerg market |
| market | notabl rapid growth local bond | market | emerg market countri import ensur |
| market | growth local bond market emerg | market | countri import ensur market particip |
| countri | local bond market emerg market | countri | import ensur market particip appropri |
| market | emerg market countri import ensur | market | particip appropri incent monitor manag |
| need | disciplin weaken time regulatori framework | need | reevalu take board lesson learn |
| market | lesson learn current difficulti advanc | market | furthermor absenc adequ transpar disclosur |
| market | look forward confid ongo capit | market | deepen emerg market countri continu |
| market | ongo capit market deepen emerg | market | countri continu econom growth prospect |
| countri | capit market deepen emerg market | countri | continu econom growth prospect major |
| econom | deepen emerg market countri continu | econom | growth prospect major emerg market |
| growth | emerg market countri continu econom | growth | prospect major emerg market countri |
| market | econom growth prospect major emerg | market | countri remain strong demograph trend |
| countri | growth prospect major emerg market | countri | remain strong demograph trend continu |
| growth | demograph trend continu foster sustain | growth | institut investor asset thank wish |
| global | imf estim would reduc annual | global | growth  ½ percentag point |
| growth | estim would reduc annual global | growth | Â ½ percentag point increas |
| global | level risk becom destabil forc | global | economi global problem requir global |
| economi | risk becom destabil forc global | economi | global problem requir global coher |
| global | becom destabil forc global economi | global | problem requir global coher respons |
| global | global economi global problem requir | global | coher respons nation polici decis |
| polici | requir global coher respons nation | polici | decis must view multilater context |
| market | intern consequ action direct domest | market | price spillov result recent tighten |
| need | product biofuel anoth import dimens | need | achiev stronger suppli respons rise |
| polici | sessionhow foster invest oil sector | polici | aim improv invest oil sector |
| market | suppli oil improv stabil oil | market | salutari effect commod price well |
| global | salutari effect commod price well | global | economi broad current condit oil |
| economi | effect commod price well global | economi | broad current condit oil market |
| market | economi broad current condit oil | market | sharp surg oil price sinc |
| market | sinc wakeup call public offici | market | particip global growth slow market |
| global | call public offici market particip | global | growth slow market expect oil |
| growth | public offici market particip global | growth | slow market expect oil price |
| market | market particip global growth slow | market | expect oil price declin per |
| economi | fulli caught product capac advanc | economi | slow emerg market economi main |
| market | capac advanc economi slow emerg | market | economi main driver demand growth |
| economi | advanc economi slow emerg market | economi | main driver demand growth china |
| growth | market economi main driver demand | growth | china india middl east alon |
| growth | alon account almost two third | growth | oil consumpt much past decad |
| global | consumpt much past decad even | global | economi slow one percentag point |
| economi | much past decad even global | economi | slow one percentag point expect |
| market | point expect oil demand emerg | market | continu grow robust pace oil |
| market | unit kingdom buffer dwindl oil | market | becom high sensit news suppli |
| also | geopolit event year financi factor | also | appear boost oil price combin |
| global | fall shortterm interest rate disrupt | global | credit market strengthen alreadi grow |
| market | interest rate disrupt global credit | market | strengthen alreadi grow investor interest |
| global | expect oil price eas modest | global | economi slow expect declin would |
| economi | oil price eas modest global | economi | slow expect declin would partial |
| market | price like stay high level | market | condit like remain tight fact |
| market | supplydemand balanc bring greater stabil | market | recent year capit expenditur begun |
| polici | constrain confluenc cyclic technolog geolog | polici | factor turn first cyclic factor |
| global | capac constraint associ except strong | global | expans broadbas commod boom past |
| also | recent imf studi oil invest | also | highlight polici factor behind sluggish |
| polici | studi oil invest also highlight | polici | factor behind sluggish invest respons |
| polici | factor behind sluggish invest respons | polici | challeng bring polici challeng relat |
| polici | invest respons polici challeng bring | polici | challeng relat oil invest commod |
| market | challeng relat oil invest commod | market | fundament polici object must foster |
| polici | oil invest commod market fundament | polici | object must foster sustain supplydemand |
| need | sustain supplydemand balanc strengthen framework | need | market forc oper proper regard |
| market | supplydemand balanc strengthen framework need | market | forc oper proper regard essenti |
| polici | remark let conclud emphas urgenc | polici | action area oil invest stabil |
| market | area oil invest stabil oil | market | also stabil global economi oil |
| also | oil invest stabil oil market | also | stabil global economi oil market |
| global | stabil oil market also stabil | global | economi oil market link industri |
| economi | oil market also stabil global | economi | oil market link industri affect |
| market | also stabil global economi oil | market | link industri affect household countri |
| countri | market link industri affect household | countri | oil market condit policiesa well |
| market | industri affect household countri oil | market | condit policiesa well commoditiesmust therefor |
| global | policiesa well commoditiesmust therefor consid | global | context suppli respons enhanc improv |
| market | compani increas transpar better oil | market | data consum polici aim achiev |
| polici | better oil market data consum | polici | aim achiev full passthrough intern |
| market | share improv supplydemand balanc oil | market | turn would make market less |
| market | oil market turn would make | market | less vulner shock therefor stabl |
| market | shock therefor stabl stabl oil | market | critic attain stabl global economi |
| global | oil market critic attain stabl | global | economi |
| economi | market critic attain stabl global | economi | |
| global | frame remark backdrop latest outlook | global | asian economi financi market turmoil |
| economi | backdrop latest outlook global asian | economi | financi market turmoil emerg last |
| market | outlook global asian economi financi | market | turmoil emerg last year background |
| growth | outlin link financi deepen stabil | growth | highlight lesson polici maker ongo |
| polici | deepen stabil growth highlight lesson | polici | maker ongo crisi financi market |
| market | polici maker ongo crisi financi | market | began seiz last august face |
| market | relat small segment u financi | market | name subprim residenti mortgag quick |
| market | quick spread howev across financi | market | segment border threaten system import |
| market | border threaten system import institut | market | polici maker financi institut taken |
| polici | threaten system import institut market | polici | maker financi institut taken action |
| polici | swap line central bank addit | polici | interest rate cut fiscal measur |
| market | measur taken mitig downdraft mortgag | market | step also taken larg u |
| also | mitig downdraft mortgag market step | also | taken larg u european bank |
| market | taken howev deterior u hous | market | overal econom outlook recent week |
| econom | deterior u hous market overal | econom | outlook recent week seen pressur |
| global | bank inde increas concern vulner | global | financi system selfsustain downward spiral |
| growth | system selfsustain downward spiral credit | growth | rise default margin call forc |
| countri | confid stabil financi system advanc | countri | public author requir encourag bank |
| also | enhanc disclosur transpar rebuild capit | also | need ensur liquid avail solvent |
| need | disclosur transpar rebuild capit also | need | ensur liquid avail solvent institut |
| also | effect action case solvenc question | also | like role macroeconom polici help |
| polici | question also like role macroeconom | polici | help support demand spread turmoil |
| global | demand spread turmoil alreadi slow | global | expans best fiveyear run generat |
| econom | project slow latest updat world | econom | outlook januari overal global growth |
| global | world econom outlook januari overal | global | growth project declin percent around |
| growth | econom outlook januari overal global | growth | project declin percent around percent |
| growth | revis project downward final new | growth | project unit state clear forecast |
| growth | time implement fiscal stimulus packag | growth | euro area deceler fourth quarter |
| countri | januari inflat general increas across | countri | boost commod price grow concern |
| market | commod price grow concern emerg | market | develop countri decoupl industri countri |
| countri | grow concern emerg market develop | countri | decoupl industri countri altogeth growth |
| countri | market develop countri decoupl industri | countri | altogeth growth expect slow somewhat |
| growth | countri decoupl industri countri altogeth | growth | expect slow somewhat near percent |
| economi | india thus far direct spillov | economi | contain part direct exposur u |
| market | direct exposur u subprim mortgag | market | limit said increas risk avers |
| market | risk avers affect spread equiti | market | extern financ emerg market moreov |
| financ | affect spread equiti market extern | financ | emerg market moreov risk outlook |
| market | equiti market extern financ emerg | market | moreov risk outlook global economi |
| global | emerg market moreov risk outlook | global | economi emerg market remain skew |
| economi | market moreov risk outlook global | economi | emerg market remain skew downsid |
| market | risk outlook global economi emerg | market | remain skew downsid let briefli |
| market | forward first real risk financi | market | turmoil could intensifi import implic |
| global | turmoil could intensifi import implic | global | economi number indic clear highlight |
| economi | could intensifi import implic global | economi | number indic clear highlight concern |
| market | clear highlight concern u hous | market | continu deterior declin properti price |
| growth | signific especi higherrisk corpor consum | growth | prospect mark similar equiti market |
| market | growth prospect mark similar equiti | market | valuat come pressur across advanc |
| economi | come pressur across advanc emerg | economi | financi sector share particular hit |
| economi | hit hard bank major advanc | economi | also tighten lend standard seek |
| also | hard bank major advanc economi | also | tighten lend standard seek preserv |
| need | heavi loss balanc sheet expand | need | meet underwrit commit inde credit |
| growth | becom credit crunch trigger sever | growth | slowdown cours sever downturn unit |
| global | sever downturn unit state would | global | spillov effect includ trade commod |
| market | trade commod price threaten emerg | market | develop countri growth prospect recent |
| countri | price threaten emerg market develop | countri | growth prospect recent rise inflat |
| growth | threaten emerg market develop countri | growth | prospect recent rise inflat complic |
| growth | food price boost headlin inflat | growth | slowdown advanc economi allevi demand |
| economi | headlin inflat growth slowdown advanc | economi | allevi demand pressur concern especi |
| also | feed inflat expect inflat risk | also | concern emerg market domest demand |
| market | inflat risk also concern emerg | market | domest demand stronger food fuel |
| global | final exchang pressur still larg | global | imbal remain concern although u |
| financ | percent remain larg risk relat | financ | persist dollar weak recent year |
| countri | balanc sheet trade competit mani | countri | asia elsewher time dollar lack |
| countri | lack movement currenc key surplus | countri | ongo crisi leav system vulner |
| global | impact asia affect crisi accompani | global | slowdown asian financi market continu |
| market | accompani global slowdown asian financi | market | continu broad guid global develop |
| global | financi market continu broad guid | global | develop thus larg correct equiti |
| market | develop thus larg correct equiti | market | higher volatil equiti flow asia |
| growth | higher volatil equiti flow asia | growth | remain robust downsid risk outlook |
| also | remain robust downsid risk outlook | also | increas let expand point littl |
| growth | let expand point littl expect | growth | moder percent weaker extern demand |
| growth | extern demand lower region export | growth | domest demand independ extern demand |
| economi | boom reflect special mani region | economi | part sophist product chain howev |
| global | inde asia exposur demand elsewher | global | economi includ unit state europ |
| economi | asia exposur demand elsewher global | economi | includ unit state europ continu |
| economi | rise thus largerthanexpect declin advanc | economi | growth rate key risk impact |
| growth | thus largerthanexpect declin advanc economi | growth | rate key risk impact via |
| growth | risk impact via trade lower | growth | unit state may relat modest |
| growth | suggest percentag point reduct u | growth | would reduc growth asia perhap |
| growth | reduct u growth would reduc | growth | asia perhap  ½ percentag |
| countri | point averag broader slowdown advanc | countri | would substanti impact asia also |
| also | countri would substanti impact asia | also | may well channel lower consum |
| economi | financi channel like larger open | economi | economi weaker domest demand inflat |
| economi | channel like larger open economi | economi | weaker domest demand inflat like |
| polici | current junctur pose difficult choic | polici | maker asia current growth momentum |
| growth | choic polici maker asia current | growth | momentum inflat level suggest price |
| growth | concern take preced measur support | growth | howev level uncertainti high growth |
| growth | growth howev level uncertainti high | growth | region begin weaken mani asian |
| economi | region begin weaken mani asian | economi | would scope eas monetari fiscal |
| polici | would scope eas monetari fiscal | polici | term financi sector polici support |
| polici | fiscal polici term financi sector | polici | support stabil growth current crisi |
| growth | financi sector polici support stabil | growth | current crisi offer valuabl lesson |
| growth | meet name financi deepen stabil | growth | nexus general recogn financi develop |
| growth | recogn financi develop support longterm | growth | includ eas financ constraint firm |
| financ | support longterm growth includ eas | financ | constraint firm increas effici invest |
| also | financi institut greater risk diversif | also | strengthen economi resili advers shock |
| economi | greater risk diversif also strengthen | economi | resili advers shock idea familiar |
| polici | develop initi region import improv | polici | deliv macroeconom stabil fundament basi |
| market | macroeconom stabil fundament basi credit | market | thrive financi innov bring great |
| market | rapid evolv structur credit deriv | market | also involv substanti risk risk |
| also | evolv structur credit deriv market | also | involv substanti risk risk stem |
| econom | happen period rapid innov benign | econom | condit market practic regulatori prudenti |
| market | rapid innov benign econom condit | market | practic regulatori prudenti norm supervisori |
| market | current crisi overshadow case financi | market | develop innov integr recent research |
| countri | integr recent research imf confirm | countri | develop financi sector stronger institut |
| polici | sector stronger institut sound macroeconom | polici | open trade system better place |
| global | system better place benefit financi | global | consider less like suffer instabl |
| global | like suffer instabl greater open | global | capit flow could entail beg |
| market | fundament lesson oversight strive give | market | particip incent intern system consequ |
| market | system consequ decis particular financi | market | decis maker market particip often |
| market | particular financi market decis maker | market | particip often reward shortterm perform |
| market | risk impair smooth work money | market | increas distanc origin bank ultim |
| market | sheet conduit expos much greater | market | liquid risk therefor urgent need |
| need | market liquid risk therefor urgent | need | broaden perimet supervis introduct basel |
| countri | introduct basel ii sever asian | countri | help regard given increas risk |
| need | sensit capit charg supervis still | need | rigor consolid supervis ensur necessari |
| polici | capit let mention preliminari lesson | polici | medium longer term might draw |
| need | financi institut defici manag supervisor | need | play activ role scrutin practic |
| need | investor place high rate suggest | need | adopt differenti rate system structur |
| need | profil review prudenti norm would | need | modifi instrument weak applic account |
| need | durat current crisi nation author | need | collabor intern standard setter achiev |
| financ | broad given grow import crossbord | financ | work avoid signific differ practic |
| need | deposit insur case prove inadequ | need | strengthen let end immedi issu |
| polici | let end immedi issu face | polici | maker market particip asia particular |
| market | immedi issu face polici maker | market | particip asia particular polici mitig |
| polici | maker market particip asia particular | polici | mitig danger even disord deleverag |
| need | sector innov develop special effort | need | ensur time consist report exposur |
| need | credit product illiquid asset institut | need | write asset loss aris develop |
| need | capit posit boost earli action | need | resolv troubl institut supervisor must |
| countri | public fund indemnifi sharehold manag | countri | whose domest bank borrow extens |
| market | domest credit prepar sudden chang | market | sentiment financ condit global market |
| financ | prepar sudden chang market sentiment | financ | condit global market tighten signific |
| global | chang market sentiment financ condit | global | market tighten signific close let |
| market | market sentiment financ condit global | market | tighten signific close let summar |
| economi | let summar main point world | economi | enter particular difficult phase financi |
| economi | across border across sector real | economi | asia spare direct impact immun |
| polici | one key lesson import intern | polici | cooper coordin collabor approach offer |
| global | offer best hope ensur stabil | global | economi see discuss paper prepar |
| economi | best hope ensur stabil global | economi | see discuss paper prepar imf |
| global | research depart reap benefit financi | global | june http www imf orgexternalnpresdoc |
| global | done well take advantag favor | global | environ strengthen polici framework lower |
| polici | advantag favor global environ strengthen | polici | framework lower longstand vulner howev |
| global | sector shock unit state spill | global | economi thus far baselin forecast |
| economi | shock unit state spill global | economi | thus far baselin forecast show |
| growth | baselin forecast show latin american | growth | hold pretti well howev robust |
| global | downsid risk still affect u | global | outlook address question need look |
| need | u global outlook address question | need | look close various element downsid |
| market | world today could portend emerg | market | general latin america particular u |
| economi | reinforc derail consumpt mainstay u | economi | push growth negat tail distribut |
| growth | consumpt mainstay u economi push | growth | negat tail distribut hous ground |
| market | hous ground zero current financi | market | turmoil asset price bubbl process |
| market | rise foreclosur put hous back | market | take quit time substanti price |
| market | substanti price declin situat normal | market | declin hous price could well |
| market | beyond subprim segment real estat | market | exampl foreclosur rate prime mortgag |
| market | system ongo process adjust capit | market | led larg financi institut unit |
| market | wealth fund posit howev hous | market | mani uncertainti remain size bank |
| also | addit us billion loss may | also | aris bank hold financi asset |
| econom | howev loss could mount much | econom | downturn bring widen deterior credit |
| global | put pressur capit posit main | global | bank forc curb credit growth |
| growth | global bank forc curb credit | growth | shore capit would restrict credit |
| econom | avail household corpor sector disrupt | econom | recoveri inde alreadi evid deleverag |
| global | figur outsid bank system broader | global | deleverag process could also unfold |
| also | broader global deleverag process could | also | unfold asset price declin trigger |
| market | fuel alreadi volatil mix contagion | market | contagion credit market nonbank unit |
| market | mix contagion market contagion credit | market | nonbank unit state europ particular |
| economi | would mutual reinforc effect weaken | economi | beyond subprimerel loss mention loss |
| global | number sourc place possibl loss | global | financi system could face close |
| growth | would direct implic credit extens | growth | outcom could turn drive asset |
| market | hous core financi system credit | market | materi would affect wider u |
| global | materi would affect wider u | global | econom situat curtail avail credit |
| econom | would affect wider u global | econom | situat curtail avail credit intensifi |
| global | materi credit crunch could becom | global | mark rise cost crossbord financ |
| financ | global mark rise cost crossbord | financ | reduc avail fund togeth slow |
| countri | togeth slow activ array industri | countri | would lower demand various emerg |
| market | would lower demand various emerg | market | export key risk loss export |
| market | america revers capit flow emerg | market | economi result consider deeper protract |
| economi | revers capit flow emerg market | economi | result consider deeper protract slowdown |
| global | result consider deeper protract slowdown | global | growth well current baselin figur |
| growth | consider deeper protract slowdown global | growth | well current baselin figur rais |
| global | current baselin figur rais specter | global | recess ii impact latin america |
| growth | scenario forese modest slow region | growth | Â ½ percent could serious |
| global | could serious effect downsid risk | global | economi materi figur let examin |
| economi | serious effect downsid risk global | economi | materi figur let examin resili |
| economi | america kind shock affect advanc | economi | outlin reason latin america may |
| countri | unit state even though trend | countri | toward increas domest securit help |
| countri | increas domest securit help mani | countri | includ brazil regulatori framework made |
| economi | runup seen unit state european | economi | although data incomplet equiti boom |
| market | commoditylink compani account substanti share | market | capit brazil peru chile help |
| market | prospect although perform commoditydepend stock | market | depend great impact global commod |
| global | stock market depend great impact | global | commod price global recess unfold |
| global | great impact global commod price | global | recess unfold implic sovereign similar |
| global | intern reserv figur assess increas | global | risk avers rais spread manag |
| countri | avers rais spread manag mani | countri | region howev like greater discrimin |
| countri | like greater discrimin high lowrisk | countri | may put pressur region weaker |
| polici | may put pressur region weaker | polici | framework said much depend commod |
| financ | still reli retain earn bulk | financ | nonetheless crossbord fund flow grown |
| financ | alreadi sign stress corpor bond | financ | spread latin american corpor bond |
| financ | curtail invest decis howev cost | financ | continu rise becom protract less |
| market | rise becom protract less advantag | market | corpor credit could repres constraint |
| market | particular case given domest bond | market | region small provid adequ altern |
| financ | small provid adequ altern extern | financ | equiti issuanc first half strong |
| market | first half strong demand emerg | market | equiti led mark increas new |
| financ | led mark increas new equiti | financ | latin corpor figur brazil alon |
| growth | bank credit although privat credit | growth | especi consum credit rapid region |
| growth | regulatori improv moreov much fund | growth | credit come domest sourc especi |
| financ | longerterm structur loan domest currenc | financ | offshor investor curtail explain domest |
| global | spread brazil remain stabl despit | global | financi turmoil risk need monitor |
| need | despit global financi turmoil risk | need | monitor close uptick delinqu rate |
| countri | delinqu rate especi smaller bank | countri | addit sever countri region subsidiari |
| countri | smaller bank countri addit sever | countri | region subsidiari global bank import |
| global | addit sever countri region subsidiari | global | bank import success part local |
| countri | region key influenc commod mani | countri | latin america benefit great commod |
| growth | export revenu strength bolster region | growth | strengthen current account posit also |
| also | growth strengthen current account posit | also | major factor behind increas fiscal |
| countri | behind increas fiscal surplus mani | countri | even baselin u global outlook |
| global | mani countri even baselin u | global | outlook commod price hold well |
| economi | whole reflect import demand emerg | economi | nearterm prospect mani commod well |
| market | declin modest especi key emerg | market | countri china india continu grow |
| countri | modest especi key emerg market | countri | china india continu grow rapid |
| growth | declin elsewher industri world slow | growth | signific key emerg market countri |
| market | slow growth signific key emerg | market | countri could larger impact commod |
| countri | growth signific key emerg market | countri | could larger impact commod price |
| global | impact commod price case previous | global | downturn figur precipit unwind sizeabl |
| financ | region would deterior sharpli rais | financ | requir time tighter global credit |
| global | rais financ requir time tighter | global | credit market potenti result region |
| market | requir time tighter global credit | market | potenti result region recess figur |
| polici | figur leav policymak close messag | polici | maker draw think various global |
| global | polici maker draw think various | global | risk face latin america true |
| need | convinc policymak import achiev date | need | continu along path current howev |
| growth | translat greater conservat public spend | growth | fiscal posit strong mani countri |
| countri | growth fiscal posit strong mani | countri | region insignific share improv due |
| also | strong revenu perform part save | also | facilit rapid real rate growth |
| growth | also facilit rapid real rate | growth | public expenditur past coupl year |
| growth | particular look preemptiv lessen rate | growth | current outlay protect fiscal posit |
| market | event signific shock world commod | market | supervisori author monitor particular care |
| countri | bank subsidiari supervisori author mani | countri | clear watch close financi institut |
| also | close financi institut would valuabl | also | cast wider net enter dialogu |
| countri | net enter dialogu counterpart home | countri | main foreign bank subsidiari facilit |
| also | understand overal posit bank group | also | allow supervisor latin america react |
| countri | report framework vital seen industri | countri | uncertainti pervas effect work fundament |
| market | pervas effect work fundament capit | market | foreign domest investor need abl |
| need | capit market foreign domest investor | need | abl see clear health region |
| econom | burst asset price bubbl world | econom | outlook imf april recent world |
| financ | survey indic intern generat fund | financ | percent latin american corpor invest |
| econom | issu best move reform forward | econom | question also perhap polit one |
| also | move reform forward econom question | also | perhap polit one introduc discuss |
| growth | weak macroeconom perform typic low | growth | high unemploy also unsustain fiscal |
| also | typic low growth high unemploy | also | unsustain fiscal extern posit reform |
| polici | tend slow come role fiscal | polici | complementari rather cushion typic focus |
| also | typic focus consolid within framework | also | buttress suppli side incent requir |
| growth | requir strategi result virtuous circl | growth | tax cut initi made reform |
| market | lower tax wedg liber product | market | research confirm comprehens approach tend |
| market | tend success part product labor | market | reform reinforc benefit found labormarket |
| market | bring larger faster reward product | market | relat free flexibl competit environ |
| countri | greater effect environ labormarket flexibl | countri | divers polit arrang coalit govern |
| econom | reform context todayeconomist general agre | econom | perform europ remain well short |
| growth | implic loom problem age futur | growth | short fall perform today howev |
| polici | visibl good part past reform | polici | employ robust unemploy fallen less |
| market | today diffus intang rigid servic | market | rent protect manifold wide spread |
| economi | protect manifold wide spread throughout | economi | result taken individu macro econom |
| econom | economi result taken individu macro | econom | signific even though amount larg |
| econom | even though amount larg drag | econom | system taken togeth moreov problem |
| need | impuls toward solidar notion sacrific | need | equit share result hurdl get |
| need | support ensur sustain becom difficult | need | comprehens sustain approachcombin lesson past |
| also | broad comprehens reform propos could | also | help build polit support make |
| need | import least caus reform effort | need | sustain success assur structur reform |
| also | one take time design implement | also | histori show fundament reform take |
| countri | bear fruit approach reformturn process | countri | success pursu reform use differ |
| countri | europ promot reform within member | countri | process farreach manufactur extend servic |
| financ | reduc tax rate stabil public | financ | risk approach howev agreement inconsist |
| need | approach howev agreement inconsist fiscal | need | undermin effect commiss consensusbuild devic |
| econom | mention earlier reelect much due | econom | reform ventur specul howev basi |
| econom | reform ventur specul howev basi | econom | success notabl emphasi comprehens structur |
| need | structur reform consist leverag complementar | need | achiev maximum result would seem |
| economi | come convinc compact consid polit | economi | reform incumb us economist improv |
| countri | reform relat specif institut structur | countri | polit economi dynam set |
| economi | specif institut structur countri polit | economi | dynam set |
| also | deliveri thank join us thank | also | angel gurria colleagu oecd host |
| econom | reform middl financi crisi signific | econom | implic mani countri seem urgent |
| countri | crisi signific econom implic mani | countri | seem urgent problem address actual |
| econom | mean human develop achiev balanc | econom | prosper social justic environ promot |
| econom | hold becom easier achiev environ | econom | growth angel explain clear way |
| growth | becom easier achiev environ econom | growth | angel explain clear way structur |
| market | help europ compet success world | market | produc high growth second structur |
| growth | success world market produc high | growth | second structur reform help creat |
| also | young peopl want protect failur | also | want opportun success mean kind |
| market | structur reform pursu area labor | market | mean must focus creat condit |
| need | old one social safeti net | need | move away focus specif job |
| market | opportun career develop area product | market | must open servic industri competit |
| market | nontrad good continu lag behind | market | reform aim promot equal opportun |
| also | air travel cell phone instanc | also | benefit worker industri rais growth |
| growth | also benefit worker industri rais | growth | economi increas product competit contest |
| economi | benefit worker industri rais growth | economi | increas product competit contest market |
| market | economi increas product competit contest | market | good servic includ financi servic |
| econom | servic includ financi servic crucial | econom | growth fiscal reform also contribut |
| growth | includ financi servic crucial econom | growth | fiscal reform also contribut growth |
| also | crucial econom growth fiscal reform | also | contribut growth know well europ |
| growth | growth fiscal reform also contribut | growth | know well europ age budget |
| need | know well europ age budget | need | adapt deal trick reform way |
| also | see benefit reform clear must | also | recogn peopl hesit structur reform |
| need | reform policymak cannot dictat peopl | need | persuad peopl let talk thing |
| polici | persuad peopl let talk thing | polici | maker expand support structur reform |
| also | maker expand support structur reform | also | circumst take advantag generat support |
| countri | may take differ path differ | countri | depend start point circumst need |
| need | countri depend start point circumst | need | uniform approach rather need approach |
| need | circumst need uniform approach rather | need | approach tailor divers europ within |
| countri | approach tailor divers europ within | countri | help differ reform pursu togeth |
| countri | inclin focus cost specif reform | countri | done best implement structur reform |
| market | adopt comprehens approach mix labor | market | fiscal product market reform complement |
| market | mix labor market fiscal product | market | reform complement reinforc relat free |
| market | reinforc relat free product labor | market | allow labor suppli reform translat |
| also | job rather higher rent may | also | sens crisi help mobil support |
| econom | time prioriti european govern contain | econom | damag financi market crisi difficult |
| market | govern contain econom damag financi | market | crisi difficult econom environ inflat |
| econom | damag financi market crisi difficult | econom | environ inflat recess potenti problem |
| econom | environ inflat recess potenti problem | econom | environ govern citizen also interest |
| also | problem econom environ govern citizen | also | interest reform promot growth without |
| growth | citizen also interest reform promot | growth | without inflationari risk kind labor |
| market | inflationari risk kind labor product | market | reform talk confer bad time |
| also | spirit spirit learn work togeth | also | spirit confer import work ahead |
| also | confer import work ahead us | also | good peopl help us especi |
| also | adapt chang world citizen alreadi | also | much europ give world hold |
| global | month repres massiv stress test | global | financi system one becom pervas |
| global | u financi system today grown | global | challeng problem seem first essenti |
| market | evolv increas complex interlinkag financi | market | real economi threat sustain stabl |
| economi | complex interlinkag financi market real | economi | threat sustain stabl global growth |
| global | real economi threat sustain stabl | global | growth prevail past five year |
| growth | economi threat sustain stabl global | growth | prevail past five year littl |
| polici | risk escal crisi rise decis | polici | action requir put global financi |
| global | decis polici action requir put | global | financi system global economi firmer |
| global | requir put global financi system | global | economi firmer foot first prioriti |
| economi | put global financi system global | economi | firmer foot first prioriti must |
| global | prioriti must revers spread strain | global | financi market restor normal function |
| market | revers spread strain global financi | market | restor normal function financi system |
| economi | normal function financi system advanc | economi | public author requir make avail |
| market | shortterm liquid strike right balanc | market | solut public sector intervent action |
| need | bank help reflect recognit critic | need | assur market liquid regard action |
| market | reflect recognit critic need assur | market | liquid regard action structur natur |
| need | structur natur financi sector step | need | make sure bank adequ capit |
| polici | improv disclosur even financi sector | polici | take hold global economi advanc |
| global | financi sector polici take hold | global | economi advanc economi particular continu |
| economi | sector polici take hold global | economi | advanc economi particular continu face |
| economi | take hold global economi advanc | economi | particular continu face pressur tighten |
| countri | tighten credit condit like role | countri | steppedup countercycl macroeconom polici measur |
| polici | role countri steppedup countercycl macroeconom | polici | measur help support demand alreadi |
| polici | sever central bank eas monetari | polici | stanc howev step announc alreadi |
| global | high impact event materi jeopard | global | financi stabil implic straightforward crossbord |
| econom | financi stabil implic straightforward crossbord | econom | financi linkag becom potent complex |
| need | becom potent complex care attent | need | paid conting risk moreov risk |
| need | paid conting risk moreov risk | need | evalu global context word polici |
| global | risk moreov risk need evalu | global | context word polici maker matter |
| polici | need evalu global context word | polici | maker matter cours need think |
| need | word polici maker matter cours | need | think unthink consid would plan |
| need | would plan react conting aris | need | prepar systemat potenti risk demonstr |
| econom | core institut undermin confid weaken | econom | prospect moreov effect global world |
| global | weaken econom prospect moreov effect | global | world conting potenti remedi need |
| need | global world conting potenti remedi | need | address global context part imf |
| global | conting potenti remedi need address | global | context part imf use expertis |
| countri | part imf use expertis determin | countri | might space countercycl macroeconom polici |
| polici | countri might space countercycl macroeconom | polici | risk materi even macroeconom polici |
| polici | polici risk materi even macroeconom | polici | may enough also start think |
| also | even macroeconom polici may enough | also | start think conting basi type |
| need | type public sector intervent may | need | also cooper institut financi stabil |
| also | public sector intervent may need | also | cooper institut financi stabil forum |
| also | help repair financi system fund | also | stand readi use record liquid |
| need | stand readi use record liquid | need | help cushion global economi return |
| global | record liquid need help cushion | global | economi return issu fund role |
| economi | liquid need help cushion global | economi | return issu fund role conclus |
| market | wide anticip weaken us hous | market | spread unexpect across market economi |
| market | hous market spread unexpect across | market | economi cours question return unsustain |
| economi | market spread unexpect across market | economi | cours question return unsustain market |
| market | economi cours question return unsustain | market | condit earli last year spread |
| market | condit earli last year spread | market | volatil except low histor standard |
| need | except low histor standard instead | need | consid new challeng might lie |
| global | channel conting risk reflect realiti | global | integr economi financialmacro linkag core |
| economi | risk reflect realiti global integr | economi | financialmacro linkag core crisi two |
| market | system tradit bank activ secur | market | falter simultan spiral loss confid |
| market | creat thus certain sector secur | market | becom virtual immobil time sever |
| polici | help compens weak moreov monetari | polici | support typic prove high effect |
| polici | prove high effect past reduct | polici | rate facilit normal credit condit |
| market | central bank world financi integr | market | also impli rapid stronger spillov |
| also | bank world financi integr market | also | impli rapid stronger spillov across |
| economi | impli rapid stronger spillov across | economi | tradit well novel channel spillov |
| global | transmiss mechan disturb even though | global | trade pattern becom diversifi time |
| global | could nonlinear high rise correl | global | equiti price potenti sudden capit |
| global | core transmit rapid throughout entir | global | financi system potenti transmiss channel |
| global | conting plan one possibl emerg | global | financi deceler could amplifi impact |
| economi | amplifi impact financi turmoil real | economi | downward credit spiral driven rise |
| global | deflat develop could broad even | global | consequ especi sinc corpor bank |
| economi | sinc corpor bank mani emerg | economi | tap intern market may eventu |
| market | mani emerg economi tap intern | market | may eventu prove vulner wider |
| global | flow although current distribut risk | global | growth appear skew downsid possibl |
| growth | although current distribut risk global | growth | appear skew downsid possibl cannot |
| polici | repres appropri fiscal stimulus monetari | polici | eas would turn over aggress |
| global | turn over aggress lead excess | global | liquid growth subsequ overh unexpect |
| growth | aggress lead excess global liquid | growth | subsequ overh unexpect strong domest |
| growth | overh unexpect strong domest demand | growth | suppli constraint could result increas |
| need | pressur deterior inflat expect word | need | readi consid relev risk consid |
| global | lost sight challeng pose stilllarg | global | imbal far disord unwind imbal |
| market | shift interest rate differenti major | market | howev lack movement currenc key |
| countri | lack movement currenc key surplus | countri | notabl asia add concern potenti |
| global | five particip fund multilater consult | global | imbal unveil specif econom polici |
| econom | consult global imbal unveil specif | econom | polici plan intend help sustain |
| polici | global imbal unveil specif econom | polici | plan intend help sustain global |
| global | polici plan intend help sustain | global | growth reduc global imbal fund |
| growth | plan intend help sustain global | growth | reduc global imbal fund monitor |
| global | help sustain global growth reduc | global | imbal fund monitor progress polici |
| polici | global imbal fund monitor progress | polici | context regular bilater multilater surveil |
| growth | would involv slow domest demand | growth | strengthen net export princip deficit |
| countri | strengthen net export princip deficit | countri | main unit state shift underway |
| also | unit state shift underway particip | also | recogn global growth slowdown avoid |
| global | shift underway particip also recogn | global | growth slowdown avoid shift occur |
| growth | underway particip also recogn global | growth | slowdown avoid shift occur would |
| growth | occur would quicken domest demand | growth | declin save rate larg economi |
| economi | growth declin save rate larg | economi | run current account surplus howev |
| polici | run current account surplus howev | polici | plan origin promulg imf spring |
| polici | chang circumst iii financi sector | polici | stem deteriorationagainst background strategi deal |
| polici | rest three pillar financi sector | polici | stem deterior macroeconom polici cushion |
| polici | sector polici stem deterior macroeconom | polici | cushion demand multilater perspect first |
| polici | rebuild confid financi system said | polici | would consid appropri context would |
| also | would consid appropri context would | also | help longerterm perspect would increas |
| market | resili effici financi system first | market | liquid need maintain level suffici |
| need | financi system first market liquid | need | maintain level suffici avoid pressur |
| econom | maintain level suffici avoid pressur | econom | activ thus far fed ecb |
| market | appropri strategi contain stress interbank | market | nonetheless spread remain uncomfort high |
| need | uncomfort high central bank nonetheless | need | tread care line provid liquid |
| also | liquid risk dealt bank supervisor | also | reexamin bank incent suffici selfinsur |
| need | selfinsur advers liquid event supervisor | need | refocus attent liquid shock whether |
| need | offbal sheet entiti central bank | need | reassess abil provid liquid facil |
| need | permit loss hidden inde bank | need | improv disclosur practic investor counterparti |
| need | time disclosur larg institut worldwid | need | wherev materi combin greater disclosur |
| need | greater disclosur weaken financi institut | need | continu replenish capit pressur institut |
| need | includ bank suffer greatest loss | need | kept order conting plan need |
| need | need kept order conting plan | need | consid case balanc sheet contract |
| polici | undertak new lend iv macro | polici | cushion blowwhil financi sector polici |
| polici | polici cushion blowwhil financi sector | polici | repres first pillar take hold |
| economi | first pillar take hold real | economi | may continu affect particular bank |
| market | lend rebuild capit base secur | market | remain stress role second pillar |
| polici | stress role second pillar macroeconom | polici | help cushion blow turmoil current |
| polici | turmoil current environ risk monetari | polici | prove less effect past episod |
| polici | case fulli offset impact lower | polici | rate imf make case countercycl |
| polici | imf make case countercycl fiscal | polici | also may need unit state |
| also | make case countercycl fiscal polici | also | may need unit state growth |
| need | countercycl fiscal polici also may | need | unit state growth slow signific |
| growth | also may need unit state | growth | slow signific temporari target fiscal |
| need | room adopt temporari fiscal measur | need | analyz member countri possess fiscal |
| countri | fiscal measur need analyz member | countri | possess fiscal space preliminari assess |
| economi | assess suggest major advanc emerg | economi | account twothird global gdp could |
| global | advanc emerg economi account twothird | global | gdp could allow automat stabil |
| global | number account near one half | global | gdp alreadi would fiscal room |
| need | fiscal room implement discretionari stimulus | need | global natur challeng underpin increas |
| global | room implement discretionari stimulus need | global | natur challeng underpin increas financi |
| econom | natur challeng underpin increas financi | econom | integr indic polici respons frame |
| polici | increas financi econom integr indic | polici | respons frame global context thus |
| global | integr indic polici respons frame | global | context thus multilater collabor polici |
| polici | global context thus multilater collabor | polici | consist repres third pillar approach |
| need | approach effort evid sever fora | need | strengthen made effect reason ask |
| global | pillar approach fit broader concern | global | imbal mention alreadi polici plan |
| polici | concern global imbal mention alreadi | polici | plan develop particip multilater consult |
| global | plan develop particip multilater consult | global | imbal remain relev consult twin |
| growth | relev consult twin goal sustain | growth | support order reduct global imbal |
| global | sustain growth support order reduct | global | imbal reason fiscal stimulus unit |
| countri | give progress made recent year | countri | move boost domest demand would |
| global | would meet shortterm object lift | global | activ mediumterm goal reduc global |
| global | global activ mediumterm goal reduc | global | imbal china exampl shift polici |
| polici | global imbal china exampl shift | polici | mix allow tighter monetari polici |
| polici | polici mix allow tighter monetari | polici | support exchang rate appreci looser |
| polici | exchang rate appreci looser fiscal | polici | appropri emphasi social safeti net |
| countri | net spend sensibl macroeconom manag | countri | experienc grow inflat pressur countri |
| countri | countri experienc grow inflat pressur | countri | oil export middl east taken |
| polici | today world conting risk macroeconom | polici | may suffici cushion blow extrem |
| market | appropri role public sector intervent | market | solut exhaust imf give serious |
| countri | mani year experi help member | countri | weather crise think polici might |
| polici | member countri weather crise think | polici | might prove effect also import |
| also | think polici might prove effect | also | import ensur consider moral hazard |
| need | ensur consider moral hazard balanc | need | safeguard financi system v role |
| global | fundth issu discuss today requir | global | solut imf global membership multilater |
| global | today requir global solut imf | global | membership multilater perspect technic expertis |
| need | emphas today current turmoil underscor | need | identifi conting risk could threaten |
| global | identifi conting risk could threaten | global | stabil develop potenti polici respons |
| polici | threaten global stabil develop potenti | polici | respons imf use expertis analyz |
| global | respons imf use expertis analyz | global | econom develop help fill need |
| econom | imf use expertis analyz global | econom | develop help fill need fund |
| need | global econom develop help fill | need | fund first line defens respons |
| polici | howev deep knowledg member fiscal | polici | consult regular part normal surveil |
| also | regular part normal surveil activ | also | third line defens involv public |
| need | nonetheless reason set option may | need | consid conting risk outlin inde |
| economi | three topic financi turmoil advanc | economi | outlook global economi uncertain last |
| global | financi turmoil advanc economi outlook | global | economi uncertain last year given |
| economi | turmoil advanc economi outlook global | economi | uncertain last year given face |
| polici | downsid risk third talk key | polici | challeng go forward lesson financi |
| global | go forward lesson financi turmoil | global | settingth financi market crisislargest financi |
| market | financi turmoil global settingth financi | market | crisislargest financi shock decadesth financi |
| market | crisislargest financi shock decadesth financi | market | turmoil erupt last august develop |
| market | atlant across sever part financi | market | unanticip way inflict damag market |
| market | market unanticip way inflict damag | market | institut core global financi system |
| global | inflict damag market institut core | global | financi system fallout rapid spread |
| market | spread curtail liquid interbank money | market | heart financi system credit market |
| market | market heart financi system credit | market | strain intensifi sinc broaden rang |
| market | strain intensifi sinc broaden rang | market | come pressur rise estim bank |
| market | concern contagion often seem unrel | market | success allevi pressur liquid strain |
| market | allevi pressur liquid strain interbank | market | moder reflect aggress coordin action |
| polici | provis largescal liquid support forc | polici | interest rate cut fed bank |
| also | fed bank canada bank england | also | welcom step taken mani commerci |
| also | capit includ sovereign wealth fund | also | import larg monolin insur unit |
| market | debt nonetheless still risk financi | market | turmoil could intensifi rise spread |
| growth | signific especi higherrisk corpor consum | growth | prospect mark similar equiti market |
| market | growth prospect mark similar equiti | market | valuat come pressur across advanc |
| economi | valuat come pressur across advanc | economi | financi sector share hit particular |
| economi | particular hard bank major advanc | economi | also tighten lend standard seek |
| also | hard bank major advanc economi | also | tighten lend standard seek replenish |
| need | heavi loss balanc sheet expand | need | meet underwrit commit market particip |
| market | expand need meet underwrit commit | market | particip worri situat could worsen |
| growth | becom credit crunch trigger sever | growth | slowdown ii impact financi market |
| market | growth slowdown ii impact financi | market | disloc global outlookgrowth perform diverg |
| global | ii impact financi market disloc | global | outlookgrowth perform diverg decoupledth outbreak |
| global | decoupledth outbreak financi crisi put | global | economi uncertain foot best fiveyear |
| economi | outbreak financi crisi put global | economi | uncertain foot best fiveyear span |
| global | uncertain foot best fiveyear span | global | growth generat world economi year |
| growth | foot best fiveyear span global | growth | generat world economi year face |
| economi | span global growth generat world | economi | year face unfold challeng power |
| market | power oppos forc spread financi | market | turmoil advanc economi still vibrant |
| economi | spread financi market turmoil advanc | economi | still vibrant global growth driven |
| global | turmoil advanc economi still vibrant | global | growth driven rapid global emerg |
| growth | advanc economi still vibrant global | growth | driven rapid global emerg economi |
| global | vibrant global growth driven rapid | global | emerg economi global growth project |
| economi | growth driven rapid global emerg | economi | global growth project mark imf |
| global | driven rapid global emerg economi | global | growth project mark imf central |
| growth | rapid global emerg economi global | growth | project mark imf central project |
| global | mark imf central project expect | global | growth slow percent percent risk |
| growth | imf central project expect global | growth | slow percent percent risk larg |
| economi | risk larg downsid particular u | economi | expect slow mark grow averag |
| growth | mark grow averag percent annual | growth | fourth quarter year fourth quarter |
| polici | last year percent notwithstand aggress | polici | eas fed time implement sizeabl |
| market | fiscal stimulus packag contrast emerg | market | develop countri continu grow robust |
| countri | packag contrast emerg market develop | countri | continu grow robust last year |
| growth | led china india region maintain | growth | rate well trend growth momentum |
| growth | maintain growth rate well trend | growth | momentum countri underpin strong product |
| countri | rate well trend growth momentum | countri | underpin strong product gain improv |
| polici | reflect healthi commod price improv | polici | framework help sustain access capit |
| growth | access capit combin strong intern | growth | dynam rise share global economi |
| global | intern growth dynam rise share | global | economi resili polici framework appear |
| economi | growth dynam rise share global | economi | resili polici framework appear help |
| polici | rise share global economi resili | polici | framework appear help reduc depend |
| growth | framework appear help reduc depend | growth | perform emerg economi advanc economi |
| economi | reduc depend growth perform emerg | economi | advanc economi busi cycl fact |
| economi | growth perform emerg economi advanc | economi | busi cycl fact one bright |
| market | turmoil direct spillov onto emerg | market | develop economi seem larg contain |
| economi | spillov onto emerg market develop | economi | seem larg contain fortun emerg |
| market | seem larg contain fortun emerg | market | develop countri limit direct exposur |
| countri | contain fortun emerg market develop | countri | limit direct exposur u subprim |
| market | direct exposur u subprim mortgag | market | relat unscath financi turmoil result |
| economi | turmoil result aggreg capit flow | economi | moder sinc august overal foreign |
| growth | strong support increas intern reserv | growth | perform emerg economi diverg decoupl |
| economi | intern reserv growth perform emerg | economi | diverg decoupl emerg economi affect |
| economi | emerg economi diverg decoupl emerg | economi | affect global slowdown spillov becom |
| global | diverg decoupl emerg economi affect | global | slowdown spillov becom smaller past |
| growth | past still import part diverg | growth | path result transmiss lag global |
| global | growth path result transmiss lag | global | economi spread debt emerg market |
| economi | path result transmiss lag global | economi | spread debt emerg market sovereign |
| market | global economi spread debt emerg | market | sovereign corpor borrow widen sharpli |
| market | widen sharpli sinc octob equiti | market | among develop emerg countri also |
| countri | equiti market among develop emerg | countri | also retreat earli number countri |
| also | market among develop emerg countri | also | retreat earli number countri affect |
| countri | countri also retreat earli number | countri | affect sever other especi under |
| financ | bank offshor borrow domest banksto | financ | larg current account deficit eastern |
| growth | eastern emerg europ balanc expect | growth | emerg economi eas account spillov |
| economi | europ balanc expect growth emerg | economi | eas account spillov advanc economi |
| economi | economi eas account spillov advanc | economi | would still remain robust percent |
| global | four year region benefit favor | global | environ mani countri deserv credit |
| countri | benefit favor global environ mani | countri | deserv credit adopt sound polici |
| polici | countri deserv credit adopt sound | polici | framework made resili shift global |
| global | polici framework made resili shift | global | condit econom activ grew robust |
| econom | made resili shift global condit | econom | activ grew robust pace  |
| global | sinc region financi system weather | global | financi turmoil sign moder stress |
| countri | latin america strong regulatori framework | countri | region bank system weather turmoil |
| market | turmoil reason well stabl interbank | market | grow deposit credit howev bank |
| countri | deposit credit howev bank system | countri | could still come pressur intern |
| countri | bank decid curtail oper region | countri | equiti price declin especi sinc |
| econom | downsidether signific risk around baselin | econom | outlook balanc tilt downsid let |
| global | turmoil pose key downsid risk | global | economi especi context rise loss |
| economi | pose key downsid risk global | economi | especi context rise loss u |
| economi | credit crunch take hold advanc | economi | relat risk pertain greaterthanproject declin |
| market | advers financi event correct hous | market | household balanc sheet sever downturn |
| economi | state would spillov effect advanc | economi | particular substanti exposur structur product |
| growth | product link u mortgag weaker | growth | advanc countri would like lead |
| countri | u mortgag weaker growth advanc | countri | would like lead declin commod |
| market | reduc capit flow mani emerg | market | portend greater financi sector vulner |
| growth | greater financi sector vulner risk | growth | prospect particular number countri reli |
| countri | risk growth prospect particular number | countri | reli shortterm crossbord borrow financ |
| financ | countri reli shortterm crossbord borrow | financ | larg current account deficit greater |
| countri | bank system credit creation advanc | countri | well emerg market fare face |
| market | creation advanc countri well emerg | market | fare face recent crisi thus |
| economi | measur bank lend standard advanc | economi | indic tighten standard reflect part |
| also | system could face sever strain | also | correct equiti price earli deterior |
| market | equiti price earli deterior labor | market | condit like add pressur household |
| financ | condit like add pressur household | financ | although net asset remain high |
| global | rise oil commod food price | global | oil market remain tight suppli |
| market | commod food price global oil | market | remain tight suppli shock heighten |
| economi | price current high level advanc | economi | slow growth allevi pressur resourc |
| growth | high level advanc economi slow | growth | allevi pressur resourc somewhat increas |
| polici | core inflat risk complic monetari | polici | respons weaken growth prospect third |
| growth | complic monetari polici respons weaken | growth | prospect third larg global imbal |
| global | weaken growth prospect third larg | global | imbal remain worri downsid risk |
| global | imbal remain worri downsid risk | global | economi u current account deficit |
| economi | remain worri downsid risk global | economi | u current account deficit project |
| countri | exchang rate far fallen disproportion | countri | flexibl exchang rate regim may |
| financ | damag protectionist sentiment time risk | financ | u current account deficit may |
| polici | deficit may becom difficult iii | polici | challengeslet turn polici challeng go |
| polici | difficult iii polici challengeslet turn | polici | challeng go forward policymak advanc |
| economi | challeng go forward policymak advanc | economi | face three press difficult task |
| market | press difficult task deal financi | market | disloc respond downsid risk growth |
| growth | market disloc respond downsid risk | growth | time bear mind recent high |
| countri | latin america caribbean region mani | countri | continu face challeng inflationari pressur |
| countri | continu face challeng inflationari pressur | countri | face challeng associ strong foreign |
| polici | exchang inflow respect financi sector | polici | advanc countri aim resolv current |
| countri | respect financi sector polici advanc | countri | aim resolv current market turmoil |
| market | advanc countri aim resolv current | market | turmoil lose sight longerterm issu |
| need | turmoil lose sight longerterm issu | need | address prevent recurr regul advanc |
| economi | address prevent recurr regul advanc | economi | discuss reform address current turmoil |
| need | import lesson recent financi turmoil | need | multilater approach increas multipolar integr |
| econom | approach increas multipolar integr world | econom | problem becom ever intern see |
| global | financi regul joint effort deal | global | challeng becom indispens crucial strengthen |
| countri | strengthen framework supervisori cooper among | countri | sinc rapid pace financi innov |
| also | asset trade intern sourc contagion | also | see recent financi turmoil come |
| global | financi turmoil come top protract | global | imbal underscor import coordin multilater |
| market | increas clear macroeconom effect financi | market | crisi serious region escap entir |
| global | today would like explor prospect | global | economi emerg market like india |
| economi | would like explor prospect global | economi | emerg market like india challeng |
| market | explor prospect global economi emerg | market | like india challeng outlook pose |
| countri | challeng outlook pose policymak industri | countri | emerg market also discuss evolv |
| market | pose policymak industri countri emerg | market | also discuss evolv role imf |
| also | policymak industri countri emerg market | also | discuss evolv role imf carri |
| global | role imf carri mandat promot | global | financi stabil pleasur abl talk |
| polici | research institut made distinguish contribut | polici | debat let begin histor perspect |
| econom | promot cooper approach nation secur | econom | stabil growth challeng fund member |
| growth | approach nation secur econom stabil | growth | challeng fund member face howev |
| countri | crise larg scale capit movement | countri | relat rare financi institut tend |
| global | rather intern transmiss problem nation | global | level relat slow obvious longer |
| economi | began problem singl sector singl | economi | hous market unit state becom |
| market | singl sector singl economi hous | market | unit state becom global problem |
| global | hous market unit state becom | global | problem first manifest problem financi |
| economi | problem financi institut becom problem | economi | obvious case unit state believ |
| economi | felt increas europ think emerg | economi | immun crisi lesson draw look |
| global | caus cure crise interact nation | global | develop interact econom financi market |
| econom | interact nation global develop interact | econom | financi market develop let specif |
| market | global develop interact econom financi | market | develop let specif present crisi |
| market | obvious exampl us subprim mortgag | market | holder risk unit state problem |
| also | risk unit state problem may | also | surfac kind lend exampl leverag |
| countri | exampl leverag loan consum credit | countri | problem confin industri countri exampl |
| countri | credit countri problem confin industri | countri | exampl loos credit emerg economi |
| economi | countri exampl loos credit emerg | economi | may lead problem road supervisori |
| also | problem road supervisori regulatori framework | also | task appli crisi prevent framework |
| countri | consum protect requir supervisor regul | countri | ask whether framework adequ interact |
| econom | ask whether framework adequ interact | econom | financi market develop also influenc |
| market | framework adequ interact econom financi | market | develop also influenc way crisi |
| also | interact econom financi market develop | also | influenc way crisi unfold financi |
| growth | crunch hous correct alreadi lower | growth | unit state credit crunch would |
| also | crunch would worsen outlook could | also | affect europ potenti countri worldwid |
| countri | could also affect europ potenti | countri | worldwid bleaker econom outlook would |
| econom | europ potenti countri worldwid bleaker | econom | outlook would turn make difficult |
| market | busi individu one reason equiti | market | fallen risk u recess global |
| global | market fallen risk u recess | global | downturn grown origin develop financi |
| market | crisi lie interact macroeconom financi | market | polici resolut crisi requir action |
| polici | lie interact macroeconom financi market | polici | resolut crisi requir action area |
| countri | let talk first happen industri | countri | economi financi market turn emerg |
| economi | talk first happen industri countri | economi | financi market turn emerg economi |
| market | happen industri countri economi financi | market | turn emerg economi minut regard |
| economi | economi financi market turn emerg | economi | minut regard econom polici urg |
| econom | turn emerg economi minut regard | econom | polici urg monetari polici first |
| polici | emerg economi minut regard econom | polici | urg monetari polici first line |
| polici | regard econom polici urg monetari | polici | first line defens inde alreadi |
| also | stabil inflat expect govern may | also | need deploy fiscal polici unless |
| need | inflat expect govern may also | need | deploy fiscal polici unless situat |
| polici | may also need deploy fiscal | polici | unless situat improv fiscal author |
| countri | unless situat improv fiscal author | countri | low fiscal risk prepar exploit |
| polici | still import sens mediumterm fiscal | polici | save raini day rain regard |
| market | raini day rain regard financi | market | first prioriti restor confid mani |
| need | prioriti restor confid mani thing | need | make happen central bank need |
| need | need make happen central bank | need | continu provid liquid ensur smooth |
| market | ensur smooth function interbank money | market | also take opportun seek converg |
| also | smooth function interbank money market | also | take opportun seek converg kind |
| need | provid liquid part auditor supervisor | need | encourag consist across financi institut |
| also | writedown determin financi institut must | also | act need restor confid full |
| need | financi institut must also act | need | restor confid full disclosur exposur |
| also | prime relat secur balanc sheet | also | critic larg system institut experienc |
| economi | let turn effect crisi emerg | economi | believ effect felt probabl sooner |
| economi | rather later may say emerg | economi | decoupl industri economi would argu |
| economi | say emerg economi decoupl industri | economi | would argu growth major emerg |
| growth | decoupl industri economi would argu | growth | major emerg economi like china |
| economi | would argu growth major emerg | economi | like china india power engin |
| countri | move forward without larg industri | countri | think least yet industri emerg |
| economi | think least yet industri emerg | economi | like two hors yoke togeth |
| growth | let explain think sustain strong | growth | emerg economi base part stronger |
| economi | think sustain strong growth emerg | economi | base part stronger polici framework |
| polici | emerg economi base part stronger | polici | framework also base gain trade |
| also | base part stronger polici framework | also | base gain trade financi integr |
| global | base gain trade financi integr | global | economi true india well emerg |
| economi | gain trade financi integr global | economi | true india well emerg economi |
| economi | economi true india well emerg | economi | growth slow u europ emerg |
| growth | true india well emerg economi | growth | slow u europ emerg economi |
| economi | growth slow u europ emerg | economi | export slow past percent declin |
| growth | slow past percent declin u | growth | led declin growth emerg economi |
| growth | declin u growth led declin | growth | emerg economi percent depend trade |
| economi | growth led declin growth emerg | economi | percent depend trade financi link |
| also | trade diminish region trade grown | also | true mani emerg economi export |
| economi | grown also true mani emerg | economi | export intermedi product emerg economi |
| economi | economi export intermedi product emerg | economi | turn export unit state europ |
| economi | trade link bind emerg industri | economi | togeth still tight perhap tighter |
| also | seem casual examin trade figur | also | complex financi linkag spillov india |
| market | inflow sinc subprim crisi reflect | market | judgment india good econom prospect |
| econom | reflect market judgment india good | econom | prospect interest rate differenti india |
| countri | prospect interest rate differenti india | countri | could also revers inflow general |
| also | rate differenti india countri could | also | revers inflow general retreat risk |
| global | revers inflow general retreat risk | global | investor author well awar risk |
| polici | capit flow period ahead lead | polici | advic obvious major emerg economi |
| economi | polici advic obvious major emerg | economi | yet downturn think prepar econom |
| econom | economi yet downturn think prepar | econom | polici emerg economi could consid |
| polici | yet downturn think prepar econom | polici | emerg economi could consid would |
| economi | think prepar econom polici emerg | economi | could consid would respond downturn |
| countri | downturn much scope monetari eas | countri | much scope fiscal stimulus other |
| economi | often mean lowincom peopl emerg | economi | could alreadi begin think design |
| countri | monetari eas fiscal stimulus vari | countri | countri mean suggest everi countri |
| countri | eas fiscal stimulus vari countri | countri | mean suggest everi countri loosen |
| countri | countri countri mean suggest everi | countri | loosen fiscal polici exampl india |
| polici | suggest everi countri loosen fiscal | polici | exampl india alreadi high growth |
| growth | polici exampl india alreadi high | growth | still high public debt mediumterm |
| also | mediumterm fiscal consolid remain prioriti | also | broader role emerg economi play |
| economi | prioriti also broader role emerg | economi | play help support global growth |
| global | emerg economi play help support | global | growth polici strengthen domest demand |
| growth | economi play help support global | growth | polici strengthen domest demand growth |
| polici | play help support global growth | polici | strengthen domest demand growth engin |
| growth | growth polici strengthen domest demand | growth | engin includ greater exchang rate |
| also | includ greater exchang rate flexibl | also | polici help bring order unwind |
| polici | greater exchang rate flexibl also | polici | help bring order unwind global |
| global | polici help bring order unwind | global | econom imbal financi market polici |
| econom | help bring order unwind global | econom | imbal financi market polici emerg |
| market | unwind global econom imbal financi | market | polici emerg economi learn riskmanag |
| polici | global econom imbal financi market | polici | emerg economi learn riskmanag regulatori |
| economi | imbal financi market polici emerg | economi | learn riskmanag regulatori failur industri |
| economi | learn riskmanag regulatori failur industri | economi | emerg market build regulatori capac |
| market | regulatori failur industri economi emerg | market | build regulatori capac safeguard risk |
| also | nontranspar instrument excess lend would | also | advis central bank regulatori author |
| need | react rapid chang exampl may | need | chang framework liquid manag collater |
| countri | collater addit much smaller subset | countri | whose domest bank borrow excess |
| market | domest credit prepar sudden chang | market | sentiment could occur financ condit |
| financ | chang market sentiment could occur | financ | condit global market tighten signific |
| global | sentiment could occur financ condit | global | market tighten signific let turn |
| market | could occur financ condit global | market | tighten signific let turn lesson |
| market | turn lesson fund learn financi | market | crisi came fund three month |
| countri | ago travel mani fund member | countri | came india went latin america |
| econom | mani intern nation organ produc | econom | analysi give econom advic provid |
| econom | organ produc econom analysi give | econom | advic provid technic financi assist |
| global | fund gave repeat warn fulli | global | financi stabil report issu last |
| also | stabil report issu last april | also | gave warn crisi might unfold |
| need | interlinkag talk today lesson draw | need | pay attent link chang real |
| economi | pay attent link chang real | economi | chang financi market link go |
| market | chang real economi chang financi | market | link go way need pay |
| need | financi market link go way | need | pay attent link nation econom |
| econom | need pay attent link nation | econom | polici intern macroeconom financi develop |
| polici | pay attent link nation econom | polici | intern macroeconom financi develop link |
| economi | linkag assess implic involv real | economi | financi sector stand corner main |
| market | main street wall street recent | market | turmoil made clear need pay |
| need | recent market turmoil made clear | need | pay greater attent link real |
| market | hunger around world especi emerg | market | greater understand insight link fund |
| global | greatest capac provid insight fund | global | membership legitimaci come breadth experi |
| econom | legitimaci come breadth experi cover | econom | financi market develop therefor meet |
| market | breadth experi cover econom financi | market | develop therefor meet world need |
| need | market develop therefor meet world | need | understand issu also prepar act |
| also | meet world need understand issu | also | prepar act understand advic countri |
| countri | also prepar act understand advic | countri | experi difficulti financi support work |
| countri | sure advic instrument support member | countri | financi right one also need |
| also | member countri financi right one | also | need sharpen focus interlinkag nation |
| need | countri financi right one also | need | sharpen focus interlinkag nation economi |
| economi | need sharpen focus interlinkag nation | economi | global economi surveil activ bread |
| global | sharpen focus interlinkag nation economi | global | economi surveil activ bread butter |
| economi | focus interlinkag nation economi global | economi | surveil activ bread butter essenti |
| need | bread butter essenti give member | need | focus surveil consult individu member |
| polici | rate develop capit flow macroeconom | polici | india brazil china russia even |
| global | said earlier fund gain legitimaci | global | membership legitimaci need protect enhanc |
| need | gain legitimaci global membership legitimaci | need | protect enhanc moment emerg develop |
| countri | protect enhanc moment emerg develop | countri | feel suffici ownership fund reform |
| need | suffici ownership fund reform fund | need | reflect chang role fund world |
| also | reflect chang role fund world | also | chang role mani member mani |
| economi | role mani member mani asian | economi | includ india econom powerhous order |
| econom | mani asian economi includ india | econom | powerhous order strengthen legitimaci fund |
| economi | order strengthen legitimaci fund emerg | economi | group must given greater represent |
| financ | give advic member financi issu | financ | order need sustain incom model |
| need | member financi issu financ order | need | sustain incom model fund cannot |
| countri | practic expenditur restraint often urg | countri | must cut fund administr expens |
| countri | quota enhanc voic emerg develop | countri | set fund financ order incom |
| financ | emerg develop countri set fund | financ | order incom increas expenditur reduct |
| also | advantag guid propos approach surveil | also | appli area fund activ includ |
| countri | technic assist work program nearprogram | countri | especi lowincom countri theme develop |
| countri | program nearprogram countri especi lowincom | countri | theme develop come month close |
| economi | let return main theme world | economi | enter difficult phase financi crisi |
| economi | phase financi crisi spread real | economi | becom global problem requir global |
| global | crisi spread real economi becom | global | problem requir global solut emerg |
| global | economi becom global problem requir | global | solut emerg market need join |
| market | problem requir global solut emerg | market | need join industri countri macroeconom |
| need | requir global solut emerg market | need | join industri countri macroeconom regulatori |
| countri | emerg market need join industri | countri | macroeconom regulatori polici respons collabor |
| polici | join industri countri macroeconom regulatori | polici | respons collabor approach offer best |
| global | offer best hope ensur stabil | global | economi thank much |
| economi | best hope ensur stabil global | economi | thank much |
| polici | topic interplay financi innov monetari | polici | core work fund incept ongo |
| market | fund incept ongo event financi | market | make topic particular import thus |
| market | preliminari view work fund ongo | market | turmoil rais see key polici |
| polici | market turmoil rais see key | polici | question emphasi implic effect monetari |
| polici | question emphasi implic effect monetari | polici | theme today monetari polici effect |
| polici | monetari polici theme today monetari | polici | effect would enhanc greater integr |
| polici | integr financi stabil price stabil | polici | deeper connect financi market necessit |
| market | stabil polici deeper connect financi | market | necessit higher degre coordin among |
| market | central bank supervisor joint oversight | market | player use collect inform market |
| market | market player use collect inform | market | help form assess system stabil |
| polici | stabil greater transpar financi monetari | polici | could use convey assess public |
| market | could use convey assess public | market | benefit monetari polici ll first |
| polici | assess public market benefit monetari | polici | ll first say word impact |
| polici | word impact financi innov monetari | polici | recent year next discuss general |
| polici | discuss general way challeng monetari | polici | pose today rest talk implic |
| polici | episod financi turmoil effect monetari | polici | past two decad financi innov |
| polici | financi innov probabl strengthen monetari | polici | financi innov mean new financi |
| market | new financi product liquid financi | market | brought household busi financi system |
| countri | innov taken place time advanc | countri | move monetari polici framework aim |
| polici | time advanc countri move monetari | polici | framework aim attain low stabl |
| polici | financi innov likelihood reinforc impact | polici | interest rate chang output inflat |
| also | borrow net worth thus creditworthi | also | deeper activ financi market rais |
| market | creditworthi also deeper activ financi | market | rais profil monetari polici busi |
| polici | financi market rais profil monetari | polici | busi household foster central bank |
| financ | hedg interest rate chang affect | financ | willing extend credit financi innov |
| also | willing extend credit financi innov | also | creat uncertainti monetari policymak origin |
| polici | chang asset price factor monetari | polici | price stabil financi stabil howev |
| polici | bubbl difficult anticip influenc monetari | polici | turn event begin last juli |
| polici | last juli thrust financi stabil | polici | forefront cast financi innov less |
| market | u subprim mortgag leverag loan | market | warn sign deterior loan qualiti |
| market | risk spread volatil bond equiti | market | absenc secondari market structur credit |
| market | bond equiti market absenc secondari | market | structur credit product concern locat |
| market | loss disrupt sever major money | market | fund difficulti financi institut follow |
| global | challeng central bank address next | global | financi stabil report first challeng |
| market | challeng fulli restor function money | market | foster privat sector liquid manag |
| market | transmiss unpreced coordin intervent money | market | decemb central bank led sharp |
| econom | avoid credit crunch would contribut | econom | downturn bank origin credit remain |
| polici | challeng learn lesson episod instil | polici | think implement subject rest talk |
| polici | financi monetari framework today focus | polici | cours still earli draw firm |
| polici | mani key issu begin crystal | polici | implic drawn one lesson recent |
| polici | recent event coordin key therefor | polici | discuss organ institut supervisori agenc |
| polici | one hand central bank rather | polici | area oversight system liquid monetari |
| polici | area oversight system liquid monetari | polici | oversight encompass monitor regul financi |
| polici | appreci oversight shape effect monetari | polici | well recent event suggest broadest |
| need | broadest term supervisor central bank | need | awar assert fast move keep |
| need | central bank gain access inform | need | gaug system risk oversight strive |
| market | system risk oversight strive give | market | particip incent intern system consequ |
| market | rajan say sever year financi | market | decis maker market particip often |
| market | year financi market decis maker | market | particip often reward shortterm perform |
| market | capit difficulti price asset current | market | environ opaqu intern balanc sheet |
| polici | mutual mistrust bank impair monetari | polici | transmiss oper money market shortag |
| market | monetari polici transmiss oper money | market | shortag bank capit may well |
| also | reduc regulatori arbitrag financi stabil | also | monetari polici minimum supervisor central |
| polici | arbitrag financi stabil also monetari | polici | minimum supervisor central bank focus |
| countri | supervisor central bank within across | countri | anoth lesson episod provid opportun |
| market | framework better understand interconnect financi | market | recent event may also provid |
| also | financi market recent event may | also | provid rational closer central bank |
| market | rational closer central bank monitor | market | particip bear system liquid collect |
| market | cooper supervisor system import institut | market | particip includ broker insur specialist |
| polici | would help guid system liquid | polici | may lesson oversight system risk |
| polici | risk open greater transpar monetari | polici | past year exampl consider could |
| need | lay groundwork action could subsequ | need | dri money market one biggest |
| market | could subsequ need dri money | market | one biggest surpris current episod |
| also | price ongo review central bank | also | balanc sheet risk bear capac |
| need | balanc sheet risk bear capac | need | potenti size system liquid intervent |
| also | bank decemb narrow risk spread | also | could pose tradeoff free money |
| market | could pose tradeoff free money | market | shortrun alter market mechan time |
| market | free money market shortrun alter | market | mechan time monetari oper tradit |
| market | design induc bank employ money | market | liquid manag rather central bank |
| market | immedi provis liquid ahead foster | market | mechan central bank face challeng |
| market | face challeng reduc involv money | market | way threaten stabil allow bank |
| polici | allow bank manag liquid last | polici | issu discuss refin monetari polici |
| polici | polici issu discuss refin monetari | polici | framework interest financi stabil financi |
| polici | interest financi stabil financi stabil | polici | alway sit well monetari polici |
| polici | polici alway sit well monetari | polici | object maintain low stabl inflat |
| polici | particular transpar heart modern monetari | polici | conflict oftcit construct ambigu least |
| polici | essenti central bank financi stabil | polici | thus less fulli transpar inject |
| polici | bank commit inflat target lengthen | polici | horizon provid monetari polici leeway |
| polici | lengthen polici horizon provid monetari | polici | leeway address asset price bubbl |
| polici | welldefin horizon howev longer flexibl | polici | horizon could inhibit monitor public |
| polici | inhibit monitor public perform monetari | polici | perhap closer monitor privat sector |
| market | financi stabil could help give | market | confid liquid provis financi stabil |
| polici | toward deal new challeng monetari | polici | pose financi innov system liquid |
| global | promot best crisi manag practic | global | financi stabil report continu serv |
| polici | time comprehens assess financi develop | polici | implic strengthen work macrofinanci linkag |
| market | main point ongo event financi | market | call greater integr financi stabil |
| polici | integr financi stabil price stabil | polici | enhanc monetari polici effect particular |
| polici | price stabil polici enhanc monetari | polici | effect particular higher degre coordin |
| market | coordin would facilit collect inform | market | particip assess system stabil financi |
| polici | assess system stabil financi monetari | polici | transpar communic could enhanc convey |
| market | could enhanc convey assess public | market | thank much look forward discuss |
| global | deliverywhen receiv invit come center | global | develop comment book nanci augusto |
| also | view old friend colleagu would | also | give opportun express appreci marvel |
| polici | center import forum discuss key | polici | issu face develop countri turn |
| countri | key polici issu face develop | countri | turn book think import use |
| econom | book think import use contribut | econom | polici discuss latin america let |
| polici | think import use contribut econom | polici | discuss latin america let say |
| growth | option equiti sacrific even enhanc | growth | would add polici deal equiti |
| polici | even enhanc growth would add | polici | deal equiti encourag growth stand |
| growth | add polici deal equiti encourag | growth | stand much better chanc sustain |
| polici | nice job illustr mani sound | polici | rang fiscal disciplin lower cost |
| polici | reinforc goal like approach present | polici | idea toolkit correct suggest menu |
| polici | menu option policymak draw tailor | polici | best fit countri circumst perhap |
| countri | draw tailor polici best fit | countri | circumst perhap begin brief comment |
| econom | perhap begin brief comment current | econom | develop region region economi perform |
| economi | current econom develop region region | economi | perform well past year debat |
| global | whether result good luck low | global | interest rate strong growth trade |
| growth | low global interest rate strong | growth | trade partner high world commod |
| econom | hard work convinc commit strong | econom | polici macroeconom stabil see amidst |
| polici | work convinc commit strong econom | polici | macroeconom stabil see amidst turmoil |
| global | macroeconom stabil see amidst turmoil | global | financi market econom perform latin |
| market | see amidst turmoil global financi | market | econom perform latin america caribbean |
| econom | amidst turmoil global financi market | econom | perform latin america caribbean one |
| global | america caribbean one good stori | global | economi lend credenc notion strong |
| economi | caribbean one good stori global | economi | lend credenc notion strong polici |
| polici | economi lend credenc notion strong | polici | inde play import role quick |
| global | least yet tight credit condit | global | financi market lead substanti tighten |
| market | tight credit condit global financi | market | lead substanti tighten credit condit |
| global | outlook full uncertainti prospect slower | global | growth perhap declin commod price |
| growth | full uncertainti prospect slower global | growth | perhap declin commod price think |
| polici | turmoil owe lot strength fiscal | polici | mani countri help reduc region |
| countri | lot strength fiscal polici mani | countri | help reduc region public debt |
| also | help reduc region public debt | also | general central bank stay focus |
| market | help absorb effect turmoil financi | market | recent macroeconom pictur actual tie |
| growth | interest rate contain inflat good | growth | also improv equiti know inflat |
| also | rate contain inflat good growth | also | improv equiti know inflat among |
| econom | smooth boom bust book stress | econom | volatil bad growth incom distribut |
| growth | book stress econom volatil bad | growth | incom distribut growth high volatil |
| growth | volatil bad growth incom distribut | growth | high volatil discourag invest especi |
| market | horizon limit develop local financi | market | regard incom distribut high volatil |
| polici | past year suggest region strong | polici | anchor good fiscal polici much |
| polici | strong polici anchor good fiscal | polici | much clearer commit low inflat |
| growth | commit low inflat conduc sustain | growth | move direct better job promot |
| also | better job promot equiti would | also | like spend moment concentr one |
| global | rais fund look well role | global | book nanci augusto rachel argu |
| global | book nanci augusto rachel argu | global | contribut grow sens econom insecur |
| econom | argu global contribut grow sens | econom | insecur among middl lowincom household |
| global | household latin america closer tie | global | market countri becom vulner sudden |
| market | latin america closer tie global | market | countri becom vulner sudden stop |
| countri | america closer tie global market | countri | becom vulner sudden stop capit |
| countri | capit flow increas competit product | countri | harm employ howev author oppos |
| global | harm employ howev author oppos | global | per se instead support approach |
| global | per se instead support approach | global | includ polici amelior cost come |
| polici | instead support approach global includ | polici | amelior cost come make economi |
| economi | polici amelior cost come make | economi | open exampl chapter recogn trade |
| econom | new trade regim latest world | econom | outlook weo look close issu |
| global | outlook weo look close issu | global | inequ weo found overal global |
| global | global inequ weo found overal | global | relat small inequ technolog progress |
| countri | inequ past two decad develop | countri | group global actual tend reduc |
| global | two decad develop countri group | global | actual tend reduc inequ offset |
| countri | help improv incom distribut develop | countri | advanc countri addit import develop |
| countri | incom distribut develop countri advanc | countri | addit import develop countri tend |
| countri | advanc countri addit import develop | countri | tend reduc inequ countri weo |
| countri | develop countri tend reduc inequ | countri | weo howev find foreign direct |
| countri | progress matter bring mani benefit | countri | instead countri receiv fdi need |
| countri | bring mani benefit countri instead | countri | receiv fdi need make increas |
| need | countri instead countri receiv fdi | need | make increas access educ prioriti |
| also | incom benefit inflow final weo | also | find financi deepen enhanc growth |
| growth | also find financi deepen enhanc | growth | also add inequ right polici |
| also | find financi deepen enhanc growth | also | add inequ right polici respons |
| polici | growth also add inequ right | polici | respons encourag financi deepen also |
| also | polici respons encourag financi deepen | also | includ polici broaden access financi |
| polici | encourag financi deepen also includ | polici | broaden access financi servic segment |
| polici | us thought book sure influenc | polici | debat latin america mani year |
| econom | greenhous gasesand faster previous thought | econom | impact climat chang perhap less |
| need | chang perhap less fulli understood | need | rais awar econom challeng lie |
| econom | fulli understood need rais awar | econom | challeng lie us interact climat |
| global | lie us interact climat system | global | economi high complex uncertain thus |
| economi | us interact climat system global | economi | high complex uncertain thus difficult |
| econom | uncertain thus difficult pin precis | econom | impact expect signific come decad |
| also | impact expect signific come decad | also | immedi nonneglig risk sever disrupt |
| econom | sever disrupt longer term moreov | econom | effect like felt disproportion across |
| countri | like felt disproportion across world | countri | expect expos climat stress among |
| econom | expos climat stress among lowest | econom | capac adapt like macroeconom challeng |
| need | adapt like macroeconom challeng aris | need | adapt climat chang mitig extent |
| need | start felt earli sustain action | need | avoid futur harm given latest |
| growth | evid emerg climat scienc rapid | growth | global emiss project come decad |
| global | emerg climat scienc rapid growth | global | emiss project come decad without |
| polici | emiss project come decad without | polici | intervent member intern communiti cooper |
| econom | support one anoth order respond | econom | environment risk present climat chang |
| econom | let summar imf see main | econom | challeng first direct negat impact |
| countri | negat impact output product mani | countri | second achiev develop goal may |
| also | heighten risk flood howev may | also | potenti revenu opportun effici carbonpr |
| econom | opportun effici carbonpr scheme third | econom | cost household firm aris effort |
| countri | fourth may balanc payment problem | countri | owe reduc export good servic |
| also | agricultur product fish tourismand perhap | also | increas need food essenti import |
| need | fish tourismand perhap also increas | need | food essenti import final exist |
| econom | exist rang conting risk social | econom | stabil result climat chang potenti |
| econom | chang thus like advers impact | econom | growth long run set back |
| growth | thus like advers impact econom | growth | long run set back effort |
| countri | set back effort help poorest | countri | unless intern communiti take decis |
| polici | advanc howev essenti respons nurtur | polici | framework ensur proper carbon price |
| global | price adequ provis nation region | global | public good support adapt mitig |
| econom | foster intern cooper toward equit | econom | effici respons complex serious challeng |
| econom | reduc greenhous gas emiss promot | econom | resili impact climat chang acceler |
| growth | macroeconom stabil high qualiti sustain | growth | wide membership togeth great depth |
| polici | uniqu contribut make effect format | polici | area within resourc avail us |
| countri | macroeconom implic climat chang individu | countri | term intern spillov effect nation |
| polici | term intern spillov effect nation | polici | greenhous gas emiss specif imf |
| polici | technic assist appropri fiscal macroeconom | polici | mitig climat chang adapt consequ |
| countri | fund provid financi assist member | countri | respons rang macroeconom disturb includ |
| countri | exampl exogen shock facil lowincom | countri | recogn incid sever weatherrel macroeconom |
| financ | cooper foundat laid bali dialogu | financ | minist host indonesian author technic |
| econom | nairobi last year signific work | econom | climat chang alreadi way imf |
| econom | among thing studi fall world | econom | outlook summar state knowledg polici |
| polici | econom outlook summar state knowledg | polici | debat key macroeconom aspect climat |
| global | prepar chapter implic climat chang | global | economi spring issu world econom |
| economi | chapter implic climat chang global | economi | spring issu world econom outlook |
| econom | global economi spring issu world | econom | outlook analyz greater depth macroeconom |
| polici | depth macroeconom implic climat chang | polici | respons itboth term mitig adapt |
| global | heavili engag issu relat financi | global | increas import nonbank market particip |
| market | financi global increas import nonbank | market | particip investor given consider promin |
| global | particip investor given consider promin | global | financi stabil report especi gratifi |
| polici | like direct relev fund manag | polici | maker asiapacif region slide first |
| growth | imf see import continu success | growth | asset manag industri financi market |
| market | growth asset manag industri financi | market | region second would like discuss |
| market | discuss lesson challeng recent financi | market | turmoil offer region let turn |
| growth | let turn first topic signific | growth | fund manag vehicl asiapacif region |
| growth | manag vehicl asiapacif region slide | growth | pension fund asset asiapacif region |
| also | close unit state pension fund | also | grown signific taiwan provinc china |
| growth | asset exceed percent gdp case | growth | emerg asia undoubt link rapid |
| econom | emerg asia undoubt link rapid | econom | expans high save rate well |
| growth | scheme age popul doubt asset | growth | reflect stock market boom countri |
| market | doubt asset growth reflect stock | market | boom countri region enjoy econom |
| countri | growth reflect stock market boom | countri | region enjoy econom growth expect |
| econom | market boom countri region enjoy | econom | growth expect remain robust region |
| growth | boom countri region enjoy econom | growth | expect remain robust region total |
| market | portfolio volatil place fund new | market | new asset class observ even |
| market | mutual fund initi step new | market | often via hedg fund privat |
| also | japan alloc altern invest fund | also | increas share privat pension asset |
| market | pension fund link develop capit | market | across region slide doubt asiapacif |
| countri | slide doubt asiapacif region contain | countri | vari wide term level depth |
| market | level depth liquid sophist capit | market | australia singapor hong kong japan |
| market | hong kong japan alreadi advanc | market | impress capit market korea malaysia |
| market | alreadi advanc market impress capit | market | korea malaysia china indonesia philippin |
| also | malaysia china indonesia philippin thailand | also | develop rapid countri reap benefit |
| countri | philippin thailand also develop rapid | countri | reap benefit institut capac build |
| countri | imf view particular import effort | countri | region made improv invest climat |
| global | consider evid includ present recent | global | financi stabil report demonstr intern |
| countri | intern capit flow stronger stabl | countri | clarifi strengthen creditor right corpor |
| also | process well supervisori prudenti framework | also | believ liber invest limit applic |
| also | remov restrict foreign investor particip | also | improv stabil invest flow cours |
| market | broader investor base help promot | market | effici improv liquid price discoveri |
| economi | real money investor emerg develop | economi | becom less vulner sharp swing |
| market | foreign investor particip local capit | market | market still appear remain relat |
| market | investor particip local capit market | market | still appear remain relat underdevelop |
| countri | cost limit hedg instrument slide | countri | region seek develop local bond |
| market | region seek develop local bond | market | could draw use lesson experi |
| market | use lesson experi australian capit | market | growth vibranc market owe much |
| growth | lesson experi australian capit market | growth | vibranc market owe much open |
| market | australian capit market growth vibranc | market | owe much open particip foreign |
| market | risk extol benefit open financi | market | foreign invest also need underscor |
| also | open financi market foreign invest | also | need underscor mind difficulti bring |
| need | financi market foreign invest also | need | underscor mind difficulti bring inde |
| countri | mind difficulti bring inde host | countri | today australia receiv heavi capit |
| econom | effect carri trade activ robust | econom | growth global commod boom result |
| growth | carri trade activ robust econom | growth | global commod boom result sustain |
| global | trade activ robust econom growth | global | commod boom result sustain upward |
| also | upward pressur australian dollar slide | also | see number develop emerg market |
| market | also see number develop emerg | market | economi region experienc surg privat |
| economi | see number develop emerg market | economi | region experienc surg privat invest |
| growth | increas asset price rapid credit | growth | pressur currenc appreci cours policymak |
| global | risk vulner stem potenti volatil | global | capit flow slide background mani |
| economi | flow slide background mani develop | economi | asiapacif region pragmat allow combin |
| market | currenc appreci steril intervent smooth | market | volatil liber outflow condit warrant |
| polici | outflow condit warrant well pursu | polici | design medium term enhanc capac |
| market | term enhanc capac infrastructur capit | market | emphas recent world econom outlook |
| econom | capit market emphas recent world | econom | outlook strong trade surplus capit |
| polici | capit inflow like complic macroeconom | polici | implement countri also need care |
| countri | like complic macroeconom polici implement | countri | also need care unduli resist |
| also | complic macroeconom polici implement countri | also | need care unduli resist exchang |
| need | macroeconom polici implement countri also | need | care unduli resist exchang rate |
| growth | add risk financi macroeconom instabl | growth | pension fund manag vehicl asiapacif |
| market | recent turmoil u subprim mortgag | market | background turn second topic today |
| market | today lesson challeng world financi | market | pose recent market turmoil recent |
| market | world financi market pose recent | market | turmoil recent episod came fore |
| market | illustr interlink nation region financi | market | becom trigger relat local seri |
| market | rate downgrad us nonprim mortgag | market | loss certain leverag credit fund |
| market | paper curtail access bank interbank | market | well sharp increas borrow cost |
| global | surpris mani comment includ imf | global | financi stabil report long caution |
| market | report long caution excess hous | market | deterior credit disciplin understand possibl |
| market | shock affect liquid includ interbank | market | slide effect turmoil like protract |
| growth | caus forecast includ imf downgrad | growth | project encourag howev seem resili |
| market | asia face turmoil sure credit | market | condit across asiapacif region tighten |
| market | region tighten sinc start recent | market | turmoil credit spread remain higher |
| economi | howev local interbank rate asian | economi | seem return normal level help |
| need | willing central bank provid liquid | need | especi japan australia financi institut |
| also | australia financi institut asiapacif region | also | appear weather recent market turmoil |
| market | region also appear weather recent | market | turmoil without damag loss slide |
| market | limit direct loss u subprim | market | structur debt product howev experi |
| market | elsewher shown loss relat recent | market | turmoil alway immedi appar supervisor |
| need | turmoil alway immedi appar supervisor | need | particular vigil come month readi |
| econom | inde outlin imf recent region | econom | outlook asiapacif region number macroeconom |
| polici | asiapacif region number macroeconom risk | polici | maker need watch slide first |
| need | number macroeconom risk polici maker | need | watch slide first persist financi |
| market | watch slide first persist financi | market | turbul could lead much sharperthanexpect |
| countri | capit flow asia negat impact | countri | particular macroeconom fundament polici less |
| polici | impact countri particular macroeconom fundament | polici | less strong final oil price |
| market | import lesson includ develop manag | market | structur credit product slide doubt |
| market | howev rapid develop new instrument | market | seem led breakdown credit disciplin |
| need | imf drawn recent turmoil think | need | humbl recogn may easi answer |
| also | humbl recogn may easi answer | also | may need resist temptat think |
| need | may easi answer also may | need | resist temptat think new regul |
| need | imf believ nation supervisor regul | need | pay increas attent sever area |
| need | attent sever area first step | need | ensur investor supervisor accur time |
| need | financi institut expos greater transpar | need | offbal sheet exposur financi institut |
| market | regul securit financi innov made | market | effici enhanc risk distribut need |
| need | market effici enhanc risk distribut | need | assess whether incent structur origin |
| also | suppli chain structur credit may | also | need rethought risk analysi credit |
| need | chain structur credit may also | need | rethought risk analysi credit deriv |
| need | deriv structur product rate agenc | need | examin rapid downgrad rate product |
| need | independ origin whether differ scale | need | appli structur instrument given vulner |
| also | default risk cours import respons | also | lie investor exercis appropri due |
| need | financi institut hold secur collater | need | robust fund strategi manag liquid |
| need | manag liquid stress condit regul | need | mind benefit financi innov everi |
| need | benefit financi innov everi effort | need | ensur particular fast evolv market |
| market | need ensur particular fast evolv | market | investor maintain high credit risk |
| market | initi incomplet pictur complex deep | market | structur debt becom vulner impli |
| polici | appreci implic recent episod believ | polici | maker market particip includ asiapacif |
| market | recent episod believ polici maker | market | particip includ asiapacif region alreadi |
| countri | interlinkag better abl assist member | countri | meet relat challeng ahead coordin |
| econom | forum regard recent improv monitor | econom | financi condit member countri includ |
| countri | monitor econom financi condit member | countri | includ indepth analysi global financi |
| global | member countri includ indepth analysi | global | financi market multilater surveil assur |
| market | includ indepth analysi global financi | market | multilater surveil assur econom financi |
| econom | financi market multilater surveil assur | econom | financi stabil better monitor togeth |
| market | monitor togeth work local capit | market | develop becom key prioriti imf |
| polici | regard challeng opportun fund manag | polici | maker today global financi market |
| global | fund manag polici maker today | global | financi market asian hedg fund |
| market | polici maker today global financi | market | asian hedg fund general fare |
| market | perform well even face recent | market | turbul recent favor perform report |
| also | most oper hong kong singapor | also | mean benefit strength regulatori supervisori |
| also | therefor less like purchas product | also | relat high domest yield countri |
| countri | also relat high domest yield | countri | region may lessen need search |
| need | yield countri region may lessen | need | search better yield invest elsewher |
| global | talk basel ii perspect imf | global | institut preserv global monetari financi |
| global | perspect imf global institut preserv | global | monetari financi stabil heart mandat |
| global | bank oper us regulatori agenc | global | world effect homehost cooper nation |
| also | separ session afternoon homehost issu | also | pleas see old friend basel |
| also | ii signific progress made ceb | also | provid perspect basel committe said |
| global | committe said main focus imf | global | macroeconom financi stabil perspect two |
| market | qualiti deterior rapid least segment | market | time implement basel ii time |
| also | discuss procycl basel ii exagger | also | think import differ element built |
| market | third point basel ii recent | market | turbul first would like give |
| market | could way current event credit | market | unfold earlier speaker today provid |
| market | insight turmoil origin subprim mortgag | market | us may continu global repercuss |
| global | mortgag market us may continu | global | repercuss one question often rais |
| market | risk face bank today financi | market | basel ii capit also risk |
| also | financi market basel ii capit | also | risk manag incent risk base |
| also | hindsight seem car fast supervisor | also | mani market particip context recent |
| market | car fast supervisor also mani | market | particip context recent event seem |
| also | loss exposur would least contain | also | provid stiff disincent inappropri behavior |
| market | undermin clean break criteria signal | market | risk effect transfer supervisor requir |
| market | manag appropri second current problem | market | event clear go beyond object |
| market | manag basel ii panacea financi | market | troubl part remedi particular liquid |
| market | capit context liquid profil liquid | market | oper also requir assess illiquid |
| also | liquid profil liquid market oper | also | requir assess illiquid stress market |
| market | also requir assess illiquid stress | market | scenario built bank assess capit |
| market | built bank assess capit adequaci | market | risk reason believ basel ii |
| also | see present though would prevent | also | note basel ii implement process |
| economi | spread next year even matur | economi | imf implement basel ii imf |
| countri | along support basel committe individu | countri | implement basel ii valu increas |
| market | sensit enhanc focus risk manag | market | disciplin broad messag caution improp |
| countri | committe therefor press rapid implement | countri | nation author decid adopt basel |
| countri | author decid adopt basel ii | countri | decid adopt state use basel |
| need | bank keen interest way implement | need | ass whether basel ii effect |
| need | appli differ part framework complement | need | implement togeth adopt part framework |
| also | grow attent financi issu addit | also | provid technic assist give idea |
| market | kind work mcm monetari capit | market | depart head particip everi year |
| countri | ii strengthen financi system individu | countri | intern financi system posit help |
| countri | help achiev consist implement across | countri | global membership activ engag mani |
| global | achiev consist implement across countri | global | membership activ engag mani countri |
| countri | global membership activ engag mani | countri | issu accord develop methodolog support |
| countri | accord develop methodolog support work | countri | begin includ implement review fsap |
| need | provid continu think import issu | need | monitor mani time exagger market |
| market | need monitor mani time exagger | market | procycl econom capit procycl human |
| econom | mani time exagger market procycl | econom | capit procycl human behavior tend |
| also | oper intern assess capit adequaci | also | requir supervisor ensur take busi |
| econom | capit framework better estim risk | econom | cycl less like suffer estim |
| polici | build robust good time prudent | polici | also theoret consist good time |
| also | robust good time prudent polici | also | theoret consist good time exposur |
| need | bad time flip side may | need | hold capit good time view |
| also | whole cycl pit base model | also | advantag exampl pd forecast precis |
| need | plan rais capit take account | need | cycl otherwis bank scour capit |
| need | turn may exacerb credit cycl | need | rais buffer excess regulatori minimum |
| countri | strengthen stabil financi system member | countri | thank listen patient view also |
| also | countri thank listen patient view | also | thank host invit event wish |
| financ | effort promot dialogu among minist | financ | activ particip cooper essenti deliv |
| global | greenhous gase impos extern cost | global | economi futur generat aris longterm |
| economi | gase impos extern cost global | economi | futur generat aris longterm climat |
| polici | weather event extent cost aris | polici | respons remain uncertain climat chang |
| countri | pose signific macroeconom challeng mani | countri | includ mani vulner effici fiscal |
| polici | includ mani vulner effici fiscal | polici | help minim negat effect relat |
| polici | point first essenti effect carbonpr | polici | implement creat incent reduc greenhous |
| polici | reduc greenhous gas emiss rang | polici | option avail includ carbon tax |
| need | firm right emit fix amount | need | dwell mani technic issu aris |
| need | emiss develop altern technolog second | need | sensit distribut impact carbonpr measur |
| countri | impact carbonpr measur across within | countri | well generat howev must way |
| also | advers impact climat chang would | also | like make two point first |
| econom | provid inform necessari make appropri | econom | decis addit help reduc countri |
| countri | econom decis addit help reduc | countri | risk exposur direct exampl provid |
| global | may requir cooper local region | global | level second recogn much adapt |
| countri | signific addit cost least expos | countri | within develop world clear need |
| need | countri within develop world clear | need | invest promot resili thus welcom |
| econom | look publish result spring world | econom | outlook general stand readi cooper |
| econom | cooper intern institut studi macro | econom | fiscal implic appropri respons climat |
| econom | import confer role privat sector | econom | develop region integr maghreb say |
| also | mauritania morocco attend confer would | also | like extend special welcom repres |
| countri | energ discuss deeper integr maghreb | countri | collabor toward prosper futur region |
| countri | public sector repres five maghreb | countri | catalyst region cooper base develop |
| growth | sector therebi strengthen posit impact | growth | qualiti discuss took place technic |
| countri | well mani challeng face maghreb | countri | undertaken import growthenhanc reform past |
| countri | improv busi climat result maghreb | countri | made import stride toward econom |
| econom | countri made import stride toward | econom | prosper recent year region enjoy |
| growth | incom rise averag real gdp | growth | reach almost percent percent big |
| countri | achiev main challeng face maghreb | countri | reach even higher sustain growth |
| growth | countri reach even higher sustain | growth | path would enabl region reduc |
| countri | percent gdp higher averag develop | countri | remain mani emerg central european |
| countri | remain mani emerg central european | countri | need achiev faster per capita |
| need | mani emerg central european countri | need | achiev faster per capita incom |
| growth | achiev faster per capita incom | growth | public invest also still repres |
| also | capita incom growth public invest | also | still repres relat larg share |
| growth | total invest empir evid show | growth | maghreb generat main factor accumul |
| growth | accumul contribut total factor product | growth | general low evid region need |
| need | growth general low evid region | need | dynam privat sector take lead |
| countri | fiscal space particular nonoil produc | countri | higher privat invest includ foreign |
| countri | invest privat sector govern maghreb | countri | form partnership ensur three key |
| market | three key factor place adequ | market | size easier access financ posit |
| financ | adequ market size easier access | financ | posit invest climat stress algier |
| market | region trade could creat attract | market | domest foreign investor implement action |
| financ | plan trade facilit adopt minist | financ | central bank governor rabat confer |
| countri | improv trade flow among maghreb | countri | current amount less percent total |
| need | achiev sinc algier confer effort | need | implement recommend remov impedi intramaghreb |
| countri | discriminatori trade barrier exist maghreb | countri | roll back govern explor possibl |
| financ | protocol intramaghreb trade access adequ | financ | essenti privat sector develop healthi |
| growth | resourc entrepreneur critic investor therefor | growth | progress financi sector reform countri |
| countri | growth progress financi sector reform | countri | region level encourag rabat confer |
| countri | integr financi system import maghreb | countri | implement action plan without delay |
| countri | process adapt chang environ maghreb | countri | made signific progress improv busi |
| polici | signific progress improv busi environ | polici | reform implement improv institut govern |
| countri | experi alreadi place five maghreb | countri | allow us learn build success |
| countri | us learn build success initi | countri | addit maintain sound stabl macroeconom |
| countri | sinc invest return secur maghreb | countri | made signific effort eas regist |
| also | standard protect intellectu properti right | also | improv throughout region howev remain |
| market | disput unfortun still lengthi second | market | factor good servic effici privat |
| market | environ return invest hing flexibl | market | instanc rigid labor market regul |
| market | flexibl market instanc rigid labor | market | regul often associ unemploy low |
| countri | unemploy low product mani maghreb | countri | made recent advanc area particular |
| countri | pose cumbersom dismiss rule remain | countri | limit job creation privat sector |
| countri | firm privat program way maghreb | countri | promis respect third procedur new |
| countri | new busi streamlin order help | countri | better capit impress success postsecondari |
| countri | administr impedi recent year maghreb | countri | reduc number procedur requir start |
| countri | show consider differ across maghreb | countri | clear scope improv five countri |
| countri | countri clear scope improv five | countri | fourth public administr effect improv |
| countri | establish attract invest climat maghreb | countri | implement reform area past decad |
| countri | implement reform area past decad | countri | streamlin invest regul algeria mauritania |
| also | regul algeria mauritania morocco tunisia | also | reform revenu custom administr ration |
| countri | custom administr ration tax system | countri | streamlin import tariff well initi |
| need | tariff well initi encourag reform | need | maghreb countri recent reduc top |
| countri | initi encourag reform need maghreb | countri | recent reduc top corpor incom |
| economi | rate remain high relat emerg | economi | addit averag tariff maghreb countri |
| countri | economi addit averag tariff maghreb | countri | remain substanti higher rest world |
| also | remain substanti higher rest world | also | avail indic show relat rank |
| countri | govern effect could improv maghreb | countri | fifth infrastructur qualiti coverag need |
| need | countri fifth infrastructur qualiti coverag | need | upgrad busi perform better transact |
| polici | servic improv infrastructur continu top | polici | agenda maghreb countri target area |
| countri | continu top polici agenda maghreb | countri | target area construct airport port |
| countri | refineri implement improv infrastructur maghreb | countri | follow divers strategi reli public |
| need | initi qualiti coverag infrastructur maghreb | need | upgrad competit particular maghreb whole |
| need | upgrad competit particular maghreb whole | need | integr transport network transmaghreb highway |
| econom | facilit trade within region foster | econom | integr telecommun front fix telephon |
| countri | product deliveri measur implement maghreb | countri | enhanc busi environ effect support |
| countri | rise dynam privat sector member | countri | point came clear previous confer |
| countri | integr particip agre easier member | countri | reform trade regul nation financi |
| polici | trade regul nation financi system | polici | impetus part larger region effort |
| countri | region effort mani measur maghreb | countri | could adopt region level improv |
| market | properti protect invest code labor | market | regul custom revenu administr procedur |
| need | endeavor success privat sector would | need | activ particip close partnership govern |
| countri | close partnership govern five maghreb | countri | timelin implement differ measur vari |
| countri | current stage complet differ maghreb | countri | short run would think repres |
| polici | group identifi key issu formul | polici | recommend various area affect invest |
| also | area affect invest climat would | also | benefici govern maghreb countri institut |
| countri | would also benefici govern maghreb | countri | institut clear defin bodi would |
| countri | facilit investor understand legal environ | countri | well regulatori chang medium term |
| market | pertain commerci properti right labor | market | bank busi licens tax custom |
| countri | discuss exchang experi among maghreb | countri | effect progress depend action govern |
| countri | beyond confer readi support maghreb | countri | pursu reform program deepen region |
| global | pursu reform program deepen region | global | integr polici advic context annual |
| polici | program deepen region global integr | polici | advic context annual consult countri |
| countri | polici advic context annual consult | countri | provis technic assist let conclud |
| econom | year contribut macroeconom stabil strong | econom | growth believ maghreb countri move |
| growth | contribut macroeconom stabil strong econom | growth | believ maghreb countri move even |
| countri | strong econom growth believ maghreb | countri | move even higher sustain growth |
| growth | countri move even higher sustain | growth | path would increas job creation |
| global | speak today dual goal sustain | global | growth reduc global imbal achiev |
| growth | today dual goal sustain global | growth | reduc global imbal achiev dual |
| global | goal sustain global growth reduc | global | imbal achiev dual outcom central |
| countri | outcom central challeng imf member | countri | slide exist record intern payment |
| global | seen mani recent year risk | global | growth stabil unexpect post resili |
| growth | mani recent year risk global | growth | stabil unexpect post resili global |
| global | growth stabil unexpect post resili | global | expans larg unanticip ubiqu creat |
| growth | aspect includ poverti reduct strong | growth | could sustain would help provid |
| global | fast approach thus import sustain | global | growth becom even clear past |
| growth | approach thus import sustain global | growth | becom even clear past prospect |
| global | payment imbal even context strong | global | balanc gdp growth underscor key |
| growth | context strong global balanc gdp | growth | underscor key vulner expans imbal |
| growth | signific differ pace domest demand | growth | mani key economi phenomenon often |
| economi | domest demand growth mani key | economi | phenomenon often refer global save |
| global | key economi phenomenon often refer | global | save glut fact accompani weak |
| economi | sluggish consumpt gain mani key | economi | long recogn attain better balanc |
| need | balanc strength domest demand gain | need | strong global expans extend come |
| global | domest demand gain need strong | global | expans extend come year fact |
| market | favor perform thus surpris financi | market | turbul past month heighten uneas |
| global | necessari underpin order effect function | global | financi market moreov necessari bolster |
| market | order effect function global financi | market | moreov necessari bolster confid global |
| global | market moreov necessari bolster confid | global | market continu offer unpreced opportun |
| market | moreov necessari bolster confid global | market | continu offer unpreced opportun progress |
| economi | seiz recent year emerg develop | economi | exampl success doha round trade |
| global | around three key consider first | global | risk attach imbal reevalu light |
| polici | outcom remain favor one appropri | polici | implement especi key economi second |
| economi | appropri polici implement especi key | economi | second appropri strategi remain implement |
| polici | strategi remain implement credibl set | polici | measur maintain medium term attempt |
| polici | imbal declin gradual signific appropri | polici | adopt failur risk abrupt potenti |
| polici | appropri set strategi precis embodi | polici | roadmap propos context imf multilater |
| global | propos context imf multilater consult | global | imbal vital agenda implement fulli |
| market | vital agenda implement fulli recent | market | turbul isn allow distort delay |
| need | turbul isn allow distort delay | need | polici adjust slide global riskslet |
| polici | isn allow distort delay need | polici | adjust slide global riskslet begin |
| global | delay need polici adjust slide | global | riskslet begin discuss risk pose |
| market | develop first like combin financi | market | turbul new rise oil price |
| growth | oil price sustain tend dampen | growth | heighten downsid risk growth come |
| growth | dampen growth heighten downsid risk | growth | come year slide still soon |
| growth | draw firm conclus rough estim | growth | outlook might look like latest |
| global | one import aspect current environ | global | growth decoupl unit state import |
| growth | import aspect current environ global | growth | decoupl unit state import degre |
| economi | import degre expans key emerg | economi | becom independ industri economi howev |
| economi | emerg economi becom independ industri | economi | howev latest challeng rather broader |
| economi | rather broader natur affect virtual | economi | slide new challeng global growth |
| global | virtual economi slide new challeng | global | growth latest rise oil price |
| growth | economi slide new challeng global | growth | latest rise oil price know |
| market | oil demand remain robustparticular emerg | market | mani case earlier price increas |
| also | uniform consum heighten suppli concern | also | appear play role latest increas |
| market | like improv anytim soon oil | market | condit tight recent price rise |
| global | price import distribut consequ includ | global | trade balanc oil importersespeci lowincom |
| countri | imbal could percent gdp mani | countri | subsaharan africa lesser extent caribbean |
| market | consum slide factor weak hous | market | could broader impact often recogn |
| market | impact often recogn exampl hous | market | sever european countri weaken well |
| countri | exampl hous market sever european | countri | weaken well unit state slide |
| global | activ unit state unusu seen | global | context slide time financi market |
| market | global context slide time financi | market | strain visibl mani market secondround |
| market | financi market strain visibl mani | market | secondround impact continu difficulti interbank |
| market | impact continu difficulti interbank fund | market | exacerb doubt reliabl valuat balanc |
| market | slide impact credit condit recent | market | strain show risk pose expans |
| market | credit wide share least european | market | slide sum combin higher oil |
| market | combin higher oil price financi | market | strain could slow least degre |
| global | could slow least degre narrow | global | current account imbal past declin |
| market | slide recent financi turmoilparticular impact | market | assetback securitiesrais new question requir |
| global | rethink financi flow provid counterpart | global | current account imbal slide u |
| financ | u current account deficit easili | financ | taken grant financi flow unit |
| market | unit state reflect part packag | market | financi claim world deepest liquid |
| market | world deepest liquid sophist financi | market | doubt risen price liquid certain |
| market | price liquid certain key financi | market | alreadi contribut recent weaken trend |
| market | question proper valuat rate illiquid | market | weaken us dollar could reflect |
| global | anticip like particip multilater consult | global | imbal dollar signific depreci sinc |
| countri | adjust burden appear fall disproportion | countri | flexibl exchang rate regim could |
| global | protectionist pressur could becom aggrav | global | growth slow clear set broadbas |
| growth | pressur could becom aggrav global | growth | slow clear set broadbas betterbalanc |
| need | broadbas betterbalanc fundament financi adjust | need | dollar depreci far move appropri |
| economi | rate analysi howev key surplus | economi | currenc remain undervalu relat mediumterm |
| need | warrant mediumterm perspect slide summar | need | guard assum global imbal take |
| global | slide summar need guard assum | global | imbal take care smooth even |
| polici | growthfriend manner risk bar appropri | polici | action global rebalanc may weaken |
| global | risk bar appropri polici action | global | rebalanc may weaken delay burden |
| global | share broad moreov order sustain | global | growth domest demand gain outsid |
| growth | broad moreov order sustain global | growth | domest demand gain outsid unit |
| need | demand gain outsid unit state | need | strengthen appropri strategywhat appropri polici |
| polici | need strengthen appropri strategywhat appropri | polici | strategi mitig global risk discuss |
| global | strategywhat appropri polici strategi mitig | global | risk discuss address global imbal |
| global | mitig global risk discuss address | global | imbal tend follow two separ |
| global | particular remain relat inflex world | global | trade financea key factor behind |
| polici | role rebalanc save invest macroeconom | polici | well role exchang rate safe |
| growth | rais u save rais product | growth | invest boost domest demand growth |
| growth | growth invest boost domest demand | growth | rest world allow greater exchang |
| countri | exchang rate flexibl certain surplus | countri | progress toward goal made steadi |
| global | goal made steadi sustain fashion | global | imbal like resolv desir manneri |
| global | desir manneri e one support | global | growth reduc risk slide let |
| growth | manneri e one support global | growth | reduc risk slide let turn |
| need | compon turn identifi progress clear | need | begin industri countri outlook u |
| countri | progress clear need begin industri | countri | outlook u privat public save |
| market | recent develop u hous credit | market | part wealthdriven declin household save |
| financ | revenu although longerrun pressur public | financ | remain concern given recent exchang |
| growth | trend relat balanc risk demand | growth | home abroad u extern deficit |
| growth | posit contribut net export thirdquart | growth | evid direct japan downward trend |
| economi | fulli invest general declin advanc | economi | sinc late broad return prior |
| also | yen level domest interest rate | also | remain low histor standardsamid linger |
| economi | key sector remain key concern | economi | euro area savinginvest imbal relat |
| econom | area savinginvest imbal relat modest | econom | growth product perform lacklust growth |
| growth | savinginvest imbal relat modest econom | growth | product perform lacklust growth improv |
| growth | econom growth product perform lacklust | growth | improv past year structur concern |
| growth | concern continu weigh longer term | growth | prospect slide emerg market save |
| market | term growth prospect slide emerg | market | save remain high invest general |
| market | rate increas sharpli decad emerg | market | region latin america fiscal retrench |
| economi | oil export far oil produc | economi | averag spent percent extra oil |
| countri | import although substanti variat across | countri | east asia high save rate |
| growth | extern surplus despit rapid invest | growth | slide progress improv exchang rate |
| need | progress improv exchang rate flexibl | need | renminbi flexibl dollar exampl modest |
| market | mute recent sinc turmoil financi | market | began renminbi appreci less percent |
| also | real effect term sinc endjuli | also | renminbi real appreci  ½ |
| also | Â ½ percent may august | also | come faster domest inflat led |
| polici | surg food price inabl monetari | polici | durabl rein domest liquid growth |
| growth | polici durabl rein domest liquid | growth | slide role exchang rate stronger |
| growth | slide role exchang rate stronger | growth | trade partner help global rebalanc |
| global | stronger growth trade partner help | global | rebalanc exchang rate help past |
| countri | help past extern adjust across | countri | imf research find exchang rate |
| growth | real effect term declin u | growth | differenti trade partner adjust primarili |
| growth | partner adjust primarili induc stronger | growth | abroad rather lower growth unit |
| growth | stronger growth abroad rather lower | growth | unit state larg real exchang |
| growth | depreci contribut surg real export | growth | help stabil econom activ percent |
| econom | real export growth help stabil | econom | activ percent real effect depreci |
| growth | strong acceler export volum slower | growth | u economi relat trade partner |
| economi | export volum slower growth u | economi | relat trade partner also seem |
| also | u economi relat trade partner | also | seem start impact import volum |
| also | obscur rise oil price would | also | like point featur today world |
| countri | current account surplus account five | countri | today share account ten countri |
| countri | countri today share account ten | countri | divers exchang rate regim make |
| econom | exchang rate bring imbal complic | econom | polit might also take longer |
| also | imbal complic econom polit might | also | take longer slide multilater consultationsth |
| global | consultationsth goal imf multilater consult | global | imbal meet dual object mention |
| global | object mention outsetthat help posit | global | economi adjust path toward durabl |
| economi | mention outsetthat help posit global | economi | adjust path toward durabl credibl |
| growth | durabl credibl pattern domest demand | growth | maintain robust global gdp growth |
| global | domest demand growth maintain robust | global | gdp growth slide consult launch |
| growth | growth maintain robust global gdp | growth | slide consult launch mid five |
| polici | explanatori note plus particip individu | polici | plan repres major accomplish particip |
| polici | agre bring imbal share respons | polici | plan submit particip line best |
| polici | best interest achiev narrow imbal | polici | road map put forth intend |
| global | broadbas adjust flexibl manner support | global | growth briefli discuss key element |
| growth | adjust flexibl manner support global | growth | briefli discuss key element particip |
| growth | revolv around sustain domest demand | growth | make contribut toward improv global |
| global | growth make contribut toward improv | global | perform integr transform euro area |
| market | transform euro area eu financi | market | provid key impetus improv effici |
| market | improv effici area product servic | market | renew lisbon agenda reform critic |
| market | critic achiev goal includ labor | market | reform consist plan submit progress |
| market | progress alreadi achiev area financi | market | improv effici clear settlement look |
| polici | pressur exist turn back china | polici | undertak structur around three cornerston |
| growth | cornerston seen progress first rebalanc | growth | relat toward consumpt slow invest |
| growth | relat toward consumpt slow invest | growth | improv invest effici second deepen |
| growth | would help strengthen domest demand | growth | improv invest effici increas use |
| polici | invest effici increas use monetari | polici | instrument maintain macroeconom balanc experi |
| polici | easili manag flexibl exchang rate | polici | announc monetari polici measur widen |
| polici | exchang rate polici announc monetari | polici | measur widen daili trade band |
| polici | trade band rmb consist china | polici | plan saudi arabia public spend |
| need | public spend plan energi sector | need | infrastructur social project remain track |
| economi | recent revenu increas relat size | economi | impli oil export adjust gradual |
| need | impress japan deeper structur reform | need | improv growth potenti safeguard live |
| growth | deeper structur reform need improv | growth | potenti safeguard live standard would |
| global | safeguard live standard would support | global | growth reform prioriti increas labor |
| growth | live standard would support global | growth | reform prioriti increas labor market |
| market | growth reform prioriti increas labor | market | flexibl promot competit greater market |
| market | market flexibl promot competit greater | market | open deepen trade integr new |
| also | term trend toward narrow surplus | also | support demograph factor recent progress |
| polici | placement howev area progress respect | polici | plan remain challeng boost product |
| economi | boost product anem nontrad sector | economi | linchpin u polici statement multilater |
| polici | nontrad sector economi linchpin u | polici | statement multilater consult appropri focus |
| polici | appropri focus rais nation savingboth | polici | incent rais privat sector save |
| growth | net export make posit contribut | growth | fiscal balanc also strengthen line |
| also | posit contribut growth fiscal balanc | also | strengthen line multilater consult plan |
| financ | consult plan longerterm pressur public | financ | need stronger polit consensus solut |
| need | plan longerterm pressur public financ | need | stronger polit consensus solut full |
| need | hard work overal progress much | need | achiev full implement polici plansand |
| polici | much need achiev full implement | polici | plansand view becom import slide |
| polici | impact five particip multilater consult | polici | plan fund staff conduct simul |
| global | simul subject usual caveat use | global | macroeconom model gem specif compar |
| polici | gem specif compar effect five | polici | plan two altern scenario one |
| polici | altern scenario one altern benign | polici | adjust scenario adjust savinginvest balanc |
| also | benchmark purpos call baselin scenario | also | use disrupt adjust scenario involv |
| polici | lead output contract multilater consult | polici | adjust scenario includ particip polici |
| polici | polici adjust scenario includ particip | polici | plan provid stabl endur adjust |
| polici | deficit term pattern adjust particip | polici | adjust scenario produc smoother current |
| growth | relat baselin scenario slide turn | growth | multilater consult polici adjust scenario |
| polici | slide turn growth multilater consult | polici | adjust scenario produc gentl slow |
| growth | scenario produc gentl slow u | growth | would disrupt adjust bring output |
| also | rapid counterpart pattern emerg asia | also | similar gentler slow us output |
| growth | similar gentler slow us output | growth | also cushion fall growth relat |
| also | gentler slow us output growth | also | cushion fall growth relat baselin |
| growth | output growth also cushion fall | growth | relat baselin slide mention earlier |
| global | much clear term role rebalanc | global | growth much current account adjust |
| growth | clear term role rebalanc global | growth | much current account adjust slide |
| polici | show chang output multilater consult | polici | adjust scenario relat two scenario |
| polici | scenario relat two scenario without | polici | commit made task preserv global |
| global | polici commit made task preserv | global | growth bring imbal would consider |
| growth | commit made task preserv global | growth | bring imbal would consider oner |
| also | imbal would consider oner slide | also | simul spillov effect polici adjust |
| polici | slide also simul spillov effect | polici | adjust scenario calcul relat effect |
| global | scenario calcul relat effect scenario | global | growth next six year relat |
| growth | calcul relat effect scenario global | growth | next six year relat baselin |
| global | next six year relat baselin | global | growth would virtual unchang first |
| growth | six year relat baselin global | growth | would virtual unchang first three |
| global | follow three year generat increas | global | growth rate percent per year |
| growth | three year generat increas global | growth | rate percent per year moreov |
| global | rate percent per year moreov | global | growth would better balanc medium |
| growth | percent per year moreov global | growth | would better balanc medium term |
| growth | grow percent relat baselin us | growth | would virtual unchang baselin result |
| global | baselin result would signific reduct | global | payment imbal slide multilater consult |
| global | power tool address challeng pose | global | imbal full implement plan key |
| global | goal bring imbal without sacrif | global | growth context heighten uncertainti market |
| growth | bring imbal without sacrif global | growth | context heighten uncertainti market turmoil |
| market | global growth context heighten uncertainti | market | turmoil followthrough gain import multilater |
| polici | concern mani peopl citizen businessmen | polici | maker last week jean claud |
| global | abrupt exchang rate movement problem | global | economi face one symptom problem |
| economi | exchang rate movement problem global | economi | face one symptom problem fund |
| also | current account deficit mani would | also | argu appreci chines renminbi also |
| also | also argu appreci chines renminbi | also | need nobodi would serious argu |
| need | argu appreci chines renminbi also | need | nobodi would serious argu exchang |
| global | rate adjust whole solut problem | global | econom imbal problem goe deeper |
| econom | adjust whole solut problem global | econom | imbal problem goe deeper cooper |
| need | deeper cooper action mani area | need | need continu cooper along line |
| need | cooper action mani area need | need | continu cooper along line laid |
| countri | morn make convinc argument major | countri | monetari exchang rate polici matter |
| polici | major countri monetari exchang rate | polici | matter trade partner also countri |
| also | rate polici matter trade partner | also | countri valu trade currenc obvious |
| countri | polici matter trade partner also | countri | valu trade currenc obvious especi |
| global | indic general interdepend produc financi | global | signific multilater institut like fund |
| also | discuss tomorrow exchang rate determin | also | go import fund know sure |
| countri | exchang rate broader monitor individu | countri | economi global economi decis certain |
| economi | rate broader monitor individu countri | economi | global economi decis certain requir |
| global | broader monitor individu countri economi | global | economi decis certain requir sensit |
| economi | monitor individu countri economi global | economi | decis certain requir sensit circumst |
| countri | certain requir sensit circumst individu | countri | also requir solid analyt tool |
| also | requir sensit circumst individu countri | also | requir solid analyt tool assess |
| economi | final let mention issu polit | economi | exchang rate note great interest |
| need | use approach could carri certain | need | understand better way actor within |
| countri | may help explain asymmetr situat | countri | resist depreci currenc other equal |
| polici | fifti year exchang rate research | polici | intern monetari fund jacqu note |
| polici | jacqu note asymmetri exchang rate | polici | said countri often fail take |
| countri | asymmetri exchang rate polici said | countri | often fail take action need |
| need | countri often fail take action | need | improv competit hesit take action |
| need | take action would reduc still | need | understand case encourag good exchang |
| polici | case encourag good exchang rate | polici | pleas jacqu polak us morn |
| also | lez presid valencian busi confeder | also | francisco camp presid valencian govern |
| market | period uncertainti past month credit | market | experienc serious disrupt decad origin |
| market | lie unit state downturn hous | market | expos frailti number financi instrument |
| economi | mortgag repercuss felt mani advanc | economi | exampl august european central bank |
| market | found necessari inject liquid interbank | market | unpreced scale last month unit |
| need | observ event rather particip govern | need | reflect effect financi disloc budget |
| market | budget rais question crisi credit | market | fundament chang econom world know |
| econom | crisi credit market fundament chang | econom | world know life go peopl |
| global | question depend effect financi turmoil | global | growth let give perspect intern |
| growth | depend effect financi turmoil global | growth | let give perspect intern monetari |
| economi | intern monetari fund question world | economi | advantag start strong posit last |
| growth | five year seen period sustain | growth | unlik sinc advanc economi includ |
| economi | sustain growth unlik sinc advanc | economi | includ spain enjoy steadi strong |
| growth | includ spain enjoy steadi strong | growth | throughout period growth mani emerg |
| growth | steadi strong growth throughout period | growth | mani emerg develop economi even |
| economi | period growth mani emerg develop | economi | even rapid benefit open global |
| global | economi even rapid benefit open | global | market financi global high commod |
| market | even rapid benefit open global | market | financi global high commod price |
| global | benefit open global market financi | global | high commod price case also |
| also | global high commod price case | also | improv polici combin help produc |
| polici | commod price case also improv | polici | combin help produc growth near |
| growth | improv polici combin help produc | growth | near doubl digit china india |
| growth | india exampl best sustain period | growth | subsaharan africa decad growth like |
| growth | period growth subsaharan africa decad | growth | like convey momentum robust expans |
| market | momentum robust expans major emerg | market | economi global growth rapid first |
| economi | robust expans major emerg market | economi | global growth rapid first half |
| global | expans major emerg market economi | global | growth rapid first half year |
| growth | major emerg market economi global | growth | rapid first half year expect |
| market | percent whole think crisi credit | market | downturn hous market unit state |
| market | crisi credit market downturn hous | market | unit state signific effect growth |
| growth | market unit state signific effect | growth | mark project global growth almost |
| global | signific effect growth mark project | global | growth almost half percentag point |
| growth | effect growth mark project global | growth | almost half percentag point percent |
| growth | half percentag point percent even | growth | would relat high histor standard |
| growth | factor underli project continu high | growth | draw analysi fund recent publish |
| econom | analysi fund recent publish world | econom | outlook among major economi unit |
| economi | world econom outlook among major | economi | unit state countri made largest |
| countri | among major economi unit state | countri | made largest downward revis growth |
| growth | countri made largest downward revis | growth | project main problem weak hous |
| market | project main problem weak hous | market | despit fact far spillov sector |
| economi | spillov sector limit believ u | economi | grow moder pace mark u |
| growth | grow moder pace mark u | growth | project percent euro area japan |
| also | project percent euro area japan | also | mark growth percent respect europ |
| growth | euro area japan also mark | growth | percent respect europ tighter credit |
| growth | tighter credit condit slower export | growth | main reason expect growth diminish |
| growth | export growth main reason expect | growth | diminish japan less direct impact |
| growth | spend particular consumpt expect slow | growth | hand expect growth emerg market |
| growth | expect slow growth hand expect | growth | emerg market develop countri remain |
| market | growth hand expect growth emerg | market | develop countri remain strong across |
| countri | expect growth emerg market develop | countri | remain strong across region china |
| global | india grown rapid substanti contributor | global | growth year fact measur economi |
| growth | grown rapid substanti contributor global | growth | year fact measur economi purchas |
| economi | global growth year fact measur | economi | purchas power pariti term would |
| global | pariti term would largest contributor | global | growth would expect continu latin |
| growth | term would largest contributor global | growth | would expect continu latin america |
| polici | part reflect spillov u strengthen | polici | fundament limit impact market turbul |
| market | strengthen polici fundament limit impact | market | turbul emerg europ cis countri |
| countri | market turbul emerg europ cis | countri | expect growth year remain close |
| growth | emerg europ cis countri expect | growth | year remain close last year |
| countri | close last year pace although | countri | reli heavili largescal bank inflow |
| growth | africa nearterm outlook remain posit | growth | year next expect  ½ |
| countri | next expect  ½ percent | countri | reflect expect rise petroleum product |
| growth | petroleum product overal pictur expect | growth | advanc economi slow stop growth |
| economi | overal pictur expect growth advanc | economi | slow stop growth emerg develop |
| growth | growth advanc economi slow stop | growth | emerg develop economi continu rapid |
| economi | slow stop growth emerg develop | economi | continu rapid pace said believ |
| growth | pace said believ downsid risk | growth | much higher six month ago |
| market | ago main risk disrupt financi | market | possibl weaken asset price especi |
| market | two relat problem u hous | market | trigger crisi credit market tighter |
| market | hous market trigger crisi credit | market | tighter lend environ alreadi feedback |
| market | environ alreadi feedback effect hous | market | unit state could also becom |
| also | hous market unit state could | also | becom problem countri experienc rapid |
| countri | state could also becom problem | countri | experienc rapid rise hous price |
| global | rise hous price recent year | global | combin financi market problem fall |
| market | recent year global combin financi | market | problem fall asset price could |
| econom | confid turn could advers impact | econom | activ econom downturn risk alreadi |
| econom | could advers impact econom activ | econom | downturn risk alreadi present loom |
| global | exampl continu risk disord unwind | global | imbal alreadi seen movement exchang |
| countri | adjust much currenc key surplus | countri | instead counterpart depreci exchang rate |
| countri | counterpart depreci exchang rate appreci | countri | flexibl exchang ratesinclud euro area |
| growth | euro area risk could hurt | growth | prospect circumst protectionist pressur could |
| economi | pressur could worsen emerg develop | economi | far direct affect turbul credit |
| market | far direct affect turbul credit | market | even fastestgrow economi would immun |
| economi | turbul credit market even fastestgrow | economi | would immun general downturn advanc |
| economi | would immun general downturn advanc | economi | reduc import demand emerg economi |
| economi | economi reduc import demand emerg | economi | also direct risk see pocket |
| also | reduc import demand emerg economi | also | direct risk see pocket vulner |
| countri | vulner especi eastern europ among | countri | reli extern financ fund larg |
| financ | europ among countri reli extern | financ | fund larg current account deficit |
| countri | current account deficit credit boom | countri | also face reduc demand export |
| also | account deficit credit boom countri | also | face reduc demand export tighter |
| market | reduc demand export tighter financi | market | condit could tip crisi problem |
| also | condit could tip crisi problem | also | like emerg becom difficult deal |
| need | get shorter addit past year | need | adopt measur mitig adapt danger |
| market | theme implic recent turbul credit | market | global economi want emphas two |
| global | implic recent turbul credit market | global | economi want emphas two point |
| economi | recent turbul credit market global | economi | want emphas two point first |
| polici | face take sensibl vigor action | polici | maker limit damag alreadi done |
| market | damag alreadi done crisi credit | market | reduc risk damag follow let |
| global | would use risk disord unwind | global | imbal reduc major economi take |
| economi | unwind global imbal reduc major | economi | take action reduc imbal gradual |
| economi | fund organ multilater consult major | economi | design exact major economi involv |
| economi | major economi design exact major | economi | involv china euro area japan |
| countri | lead currenc appreci number surplus | countri | key implement sinc consult discuss |
| polici | made progress toward put effect | polici | intent much remain done implement |
| econom | done implement becom import risk | econom | downturn grown risk face vulner |
| economi | grown risk face vulner emerg | economi | also contain central bank emerg |
| also | risk face vulner emerg economi | also | contain central bank emerg market |
| market | also contain central bank emerg | market | need remain alert make sure |
| need | contain central bank emerg market | need | remain alert make sure good |
| countri | profil major financi institut govern | countri | privat credit grown rapid current |
| also | restraint reduc demand pressur risk | also | take action improv resili financi |
| market | let give exampl crisi credit | market | aros part investor exercis suffici |
| also | investor exercis suffici due dilig | also | imped exercis due dilig lack |
| market | lowcost way improv transpar credit | market | financi innov seem increas bank |
| market | exposur bank grow relianc secur | market | financ increas vulner liquid risk |
| financ | bank grow relianc secur market | financ | increas vulner liquid risk regul |
| need | increas vulner liquid risk regul | need | reflect new realiti assess liquid |
| market | liquid requir area especi mortgag | market | crisi reveal need better consum |
| need | especi mortgag market crisi reveal | need | better consum educ protect simpler |
| also | educ protect simpler disclosur may | also | need better coordin supervisor regul |
| need | protect simpler disclosur may also | need | better coordin supervisor regul central |
| financ | coordin supervisor regul central banker | financ | ministri countri may also need |
| countri | regul central banker financ ministri | countri | may also need simplifi regulatori |
| also | banker financ ministri countri may | also | need simplifi regulatori infrastructur general |
| need | financ ministri countri may also | need | simplifi regulatori infrastructur general way |
| market | infrastructur general way crisi credit | market | spill countri also carri import |
| countri | way crisi credit market spill | countri | also carri import lesson respond |
| also | crisi credit market spill countri | also | carri import lesson respond kind |
| market | vital import multilater cooper financi | market | issu possibl countri get togeth |
| countri | cooper financi market issu possibl | countri | get togeth come regulatori chang |
| global | regulatori chang unlik come best | global | solut repres affect similar attempt |
| global | challeng climat chang longstand problem | global | poverti like success involv countri |
| countri | global poverti like success involv | countri | live solut propos mani challeng |
| also | import role intern monetari fund | also | underlin need close collabor fund |
| need | intern monetari fund also underlin | need | close collabor fund multilater organ |
| countri | collabor fund multilater organ individu | countri | challeng talk today one intern |
| also | intern monetari fund nation govern | also | busi individu around world need |
| need | also busi individu around world | need | grappl confid challeng met three |
| countri | intern monetari fund visit mani | countri | met mani peopl found mani |
| countri | import will listen repres differ | countri | meet fund often found turn |
| need | uncertainti dialogu give us knowledg | need | reduc uncertainti cooper help us |
| need | cooper help us agre action | need | meet challeng face patienc listen |
| global | courag cooper confid realiz potenti | global | economi thank much |
| economi | cooper confid realiz potenti global | economi | thank much |
| financ | address gather import topic develop | financ | intern monetari fund commit partner |
| countri | intern communiti effort help develop | countri | reduc poverti reach millennium develop |
| financ | like share assess recent event | financ | develop also speak imf improv |
| also | assess recent event financ develop | also | speak imf improv support develop |
| countri | speak imf improv support develop | countri | let begin touch econom outlook |
| econom | develop countri let begin touch | econom | outlook develop world mani develop |
| countri | outlook develop world mani develop | countri | seen remark improv macroeconom perform |
| growth | macroeconom perform past year posit | growth | trend develop world experienc broadbas |
| growth | although under drive forc higher | growth | differ countri countri subsaharan africa |
| countri | drive forc higher growth differ | countri | countri subsaharan africa instanc experienc |
| countri | forc higher growth differ countri | countri | subsaharan africa instanc experienc strongest |
| growth | subsaharan africa instanc experienc strongest | growth | lowest inflat year growth reach |
| growth | strongest growth lowest inflat year | growth | reach percent develop asia growth |
| growth | growth reach percent develop asia | growth | expect reach almost per cent |
| countri | cent year thus far develop | countri | weather recent financi market turbul |
| market | develop countri weather recent financi | market | turbul well financi market turmoil |
| market | financi market turbul well financi | market | turmoil larg industri countri phenomenon |
| countri | financi market turmoil larg industri | countri | phenomenon emerg economi integr financi |
| economi | larg industri countri phenomenon emerg | economi | integr financi market high extern |
| market | phenomenon emerg economi integr financi | market | high extern vulner felt rippl |
| countri | view larg driven fact develop | countri | better posit decad ago reap |
| econom | posit decad ago reap benefit | econom | reform improv macroeconom polici pursu |
| polici | benefit econom reform improv macroeconom | polici | pursu govern strengthen public financ |
| financ | polici pursu govern strengthen public | financ | manag tax administr trade regim |
| need | progress made improv invest climat | need | fight weak govern corrupt receiv |
| countri | receiv attent ever mani develop | countri | pursu sustain macroeconom polici doubl |
| polici | develop countri pursu sustain macroeconom | polici | doubl tripledigit inflat rate seem |
| countri | Â ½ percent addit mani | countri | abl build consider foreign exchang |
| also | better prepar weather unexpect shock | also | reason optim impact develop poverti |
| global | optim impact develop poverti reduct | global | monitor report joint product world |
| countri | differ subsaharan africa unfortun hand | countri | posit meet incom poverti goal |
| also | poverti goal despit consider progress | also | abl make cours averag number |
| countri | conceal differ perform vulner across | countri | intern communiti must remain vigil |
| countri | would fair say mani develop | countri | improv econom social polici thus |
| econom | say mani develop countri improv | econom | social polici thus live side |
| polici | develop countri improv econom social | polici | thus live side understand reach |
| need | reach monterrey five year ago | need | donor communiti adher close commit |
| countri | made well later gleneagl develop | countri | need financi assist offici develop |
| need | well later gleneagl develop countri | need | financi assist offici develop assist |
| countri | sign emerg howev sever donor | countri | make effort rais aid budget |
| need | assist addit donor communiti awar | need | improv qualiti aid put practic |
| global | communiti particular nondac bilater donor | global | fund privat foundat nondac donor |
| global | experi allow bring fresh perspect | global | fund privat foundat access nontradit |
| global | percent offici develop aid channel | global | fund donat privat foundat estim |
| financ | dollar year initi experi innov | financ | mechan intern financ facil immun |
| financ | experi innov financ mechan intern | financ | facil immun airlin ticket tax |
| also | facil immun airlin ticket tax | also | posit increas number varieti donor |
| countri | ensur aid well harmon align | countri | prioriti also import predict aid |
| also | well harmon align countri prioriti | also | import predict aid enhanc extent |
| countri | import predict aid enhanc extent | countri | abl plan time extent aid |
| also | macroeconom consequ mr chairman let | also | say word role imf help |
| countri | say word role imf help | countri | reach millennium develop goal taken |
| polici | taken care look macroeconom fiscal | polici | advic lowincom countri see make |
| countri | macroeconom fiscal polici advic lowincom | countri | see make best use scaledup |
| countri | first fund must continu help | countri | creat maintain sound macroeconom environ |
| polici | coordin fiscal monetari exchang rate | polici | fundsupport program design support full |
| countri | shortfal interrupt develop expenditur second | countri | partner plan ahead mediumterm fiscal |
| countri | fund togeth donor work strengthen | countri | capac develop mediumterm framework third |
| countri | develop mediumterm framework third overtim | countri | strengthen revenu effort replac declin |
| polici | replac declin aid flow key | polici | regard includ broaden tax base |
| countri | system step technic assist lowincom | countri | help make progress area also |
| also | countri help make progress area | also | intensifi effort improv collabor donor |
| countri | credibl eye member includ develop | countri | therefor happi abl say progress |
| economi | lead increas vote share develop | economi | whole reaffirm imfc meet last |
| countri | thank progress made mani develop | countri | reform economi donor align harmon |
| economi | made mani develop countri reform | economi | donor align harmon assist also |
| also | economi donor align harmon assist | also | clear howev millennium develop goal |
| also | policymak discuss issu multilater set | also | bilater meet us other make |
| also | bretton wood institut uniqu occas | also | great opportun send world certain |
| countri | world certain messag regard capac | countri | face challeng global economi point |
| global | regard capac countri face challeng | global | economi point view fund meet |
| economi | capac countri face challeng global | economi | point view fund meet also |
| also | economi point view fund meet | also | import step reform program intens |
| need | behalf african caucus remind us | need | stress need giveandtak spirit reach |
| need | caucus remind us need stress | need | giveandtak spirit reach consensus defin |
| need | reach consensus defin well certain | need | next month meet also tradit |
| also | certain need next month meet | also | tradit occas review global economi |
| global | meet also tradit occas review | global | economi also differ region economi |
| economi | also tradit occas review global | economi | also differ region economi year |
| also | tradit occas review global economi | also | differ region economi year usual |
| economi | global economi also differ region | economi | year usual uncertainti global econom |
| global | region economi year usual uncertainti | global | econom prospect context offici meet |
| econom | economi year usual uncertainti global | econom | prospect context offici meet also |
| also | econom prospect context offici meet | also | seminar held around meet extrem |
| also | join bob zoellick thank governor | also | mani peopl want thank unit |
| also | director grate opportun meet would | also | like thank polic depart district |
| also | hardship presenc term traffic disturb | also | want thank mr chairman bank |
| also | behalf intern monetari fund would | also | like extend special welcom friend |
| also | serv interest peopl member countriesand | also | common commit reform welcom bob |
| global | common commit reform welcom bob | global | econom outlook implic crisi credit |
| econom | commit reform welcom bob global | econom | outlook implic crisi credit market |
| market | econom outlook implic crisi credit | market | last year met call time |
| market | past month live earthquak credit | market | like earthquak distant peopl someth |
| need | effect disrupt alreadi felt time | need | consid action take limit damag |
| also | consid action take limit damag | also | lesson learn crisi central question |
| global | learn crisi central question whether | global | economi inflect point far seem |
| economi | crisi central question whether global | economi | inflect point far seem growth |
| growth | economi inflect point far seem | growth | continu although slower pace past |
| economi | pace past two year advanc | economi | balanc sheet core financi institut |
| market | institut corpor remain strong labor | market | condit general healthi credibl monetari |
| polici | condit general healthi credibl monetari | polici | framework high reason expect slowdown |
| growth | framework high reason expect slowdown | growth | recess unit state smaller slowdown |
| economi | unit state smaller slowdown advanc | economi | emerg economi becom sourc stabil |
| economi | smaller slowdown advanc economi emerg | economi | becom sourc stabil global economysometh |
| global | emerg economi becom sourc stabil | global | economysometh would unthink year ago |
| economi | year ago citizen mani emerg | economi | reap benefit global good polici |
| global | mani emerg economi reap benefit | global | good polici pursu govern reason |
| polici | economi reap benefit global good | polici | pursu govern reason expect emerg |
| economi | pursu govern reason expect emerg | economi | continu perform well low incom |
| countri | continu perform well low incom | countri | less integr global financi market |
| global | low incom countri less integr | global | financi market benefit support global |
| market | countri less integr global financi | market | benefit support global econom condit |
| global | global financi market benefit support | global | econom condit well improv polici |
| econom | financi market benefit support global | econom | condit well improv polici framework |
| polici | global econom condit well improv | polici | framework think prospect also good |
| also | improv polici framework think prospect | also | good might ask uncertainti come |
| market | six month ago turbul credit | market | warn cannot take benign econom |
| econom | market warn cannot take benign | econom | environ recent year grant still |
| market | know full effect declin hous | market | subprim problem u economi disrupt |
| economi | hous market subprim problem u | economi | disrupt financi market fall hous |
| market | problem u economi disrupt financi | market | fall hous price could lead |
| global | fall hous price could lead | global | econom downturn downturn risk alreadi |
| econom | hous price could lead global | econom | downturn downturn risk alreadi present |
| countri | asset risk exchang rate appreci | countri | flexibl exchang ratesinclud euro areacould |
| growth | exchang ratesinclud euro areacould hurt | growth | prospect circumst protectionist pressur could |
| economi | protectionist pressur could worsen emerg | economi | reli extern financ fund larg |
| financ | worsen emerg economi reli extern | financ | fund larg current account deficit |
| market | reduc demand export tighter financi | market | condit develop would also worsen |
| also | financi market condit develop would | also | worsen prospect lowincom countri risk |
| countri | would also worsen prospect lowincom | countri | risk central bank may falter |
| countri | may falter fight inflat spur | countri | higher oil food price risk |
| polici | risk make action alreadi agre | polici | urgent major economi need recogn |
| economi | alreadi agre polici urgent major | economi | need recogn global imbal cannot |
| need | agre polici urgent major economi | need | recogn global imbal cannot correct |
| global | urgent major economi need recogn | global | imbal cannot correct currenc movement |
| need | cannot correct currenc movement alon | need | take support polici actionsalong line |
| polici | movement alon need take support | polici | actionsalong line roadmap came multilater |
| countri | major trade partner develop develop | countri | need go extra mile complet |
| need | trade partner develop develop countri | need | go extra mile complet multilater |
| economi | trade talk potenti vulner emerg | economi | prepar case crisi reach shore |
| need | case crisi reach shore policymak | need | respect independ central bank support |
| also | central bank support vigil inflat | also | plan ahead effect crisi potenti |
| market | effect crisi potenti spread credit | market | real economi individu compani govern |
| economi | potenti spread credit market real | economi | individu compani govern across countri |
| countri | economi individu compani govern across | countri | anticip reflect consequ feedback effect |
| polici | anticip reflect consequ feedback effect | polici | respons far central bank advanc |
| economi | respons far central bank advanc | economi | react swift sensibl provid liquid |
| market | provid liquid support function credit | market | adjust monetari polici stanc reflect |
| polici | function credit market adjust monetari | polici | stanc reflect chang econom prospect |
| econom | monetari polici stanc reflect chang | econom | prospect central bank emerg market |
| market | econom prospect central bank emerg | market | also need remain alert make |
| also | prospect central bank emerg market | also | need remain alert make sure |
| need | central bank emerg market also | need | remain alert make sure good |
| countri | major financi institut govern affect | countri | need recogn revenu may revis |
| need | financi institut govern affect countri | need | recogn revenu may revis downward |
| also | anyth becom press lesson crisi | also | reflect lesson learn crisi alreadi |
| need | ban earthquak weak infrastructur expos | need | address need make sure regulatori |
| need | weak infrastructur expos need address | need | make sure regulatori infrastructur strong |
| global | enough simpl enough handl crise | global | world let give exampl crisi |
| market | let give exampl crisi credit | market | aros part investor exercis suffici |
| also | investor exercis suffici due dilig | also | imped exercis due dilig lack |
| market | lowcost way improv transpar credit | market | financi innov seem increas bank |
| market | exposur bank grow relianc secur | market | financ increas vulner liquid risk |
| financ | bank grow relianc secur market | financ | increas vulner liquid risk regul |
| need | increas vulner liquid risk regul | need | reflect new realiti assess liquid |
| market | liquid requir area especi mortgag | market | crisi reveal need better consum |
| need | especi mortgag market crisi reveal | need | better consum educ protect simpler |
| also | could afford lose home crisi | also | demonstr import coordin supervisor regul |
| financ | coordin supervisor regul central banker | financ | ministri also demonstr countri need |
| also | regul central banker financ ministri | also | demonstr countri need simplifi regulatori |
| countri | banker financ ministri also demonstr | countri | need simplifi regulatori infrastructur perhap |
| need | financ ministri also demonstr countri | need | simplifi regulatori infrastructur perhap import |
| global | crisi reveal rang risk financi | global | risk loan origin unit state |
| market | vital import multilater cooper financi | market | issu possibl countri get togeth |
| countri | cooper financi market issu possibl | countri | get togeth come regulatori chang |
| global | regulatori chang unlik come best | global | solut repres affect without particip |
| countri | repres affect without particip ownership | countri | implement translat even bestdesign propos |
| global | agenc relev expertis part fund | global | membership provid forum multilater discuss |
| also | discuss give author outcom discuss | also | instrumentsfrom articl iv consult financi |
| econom | assess programsto provid necessari perspect | econom | financi issu independ staff accumul |
| market | base demonstr warn recent financi | market | risk problem emerg crisi credit |
| market | risk problem emerg crisi credit | market | test intern financi system probabl |
| market | intern spillov seen crisi credit | market | symptomat challeng come increas econom |
| econom | market symptomat challeng come increas | econom | integr financi global meet challeng |
| global | come increas econom integr financi | global | meet challeng mani econom issu |
| econom | financi global meet challeng mani | econom | issu need consid multilater set |
| need | meet challeng mani econom issu | need | consid multilater set includ financi |
| market | consid multilater set includ financi | market | monitor regul global imbal crisi |
| global | includ financi market monitor regul | global | imbal crisi prevent poverti reduct |
| countri | respons climat chang issu group | countri | impos chang advanc emerg economi |
| economi | countri impos chang advanc emerg | economi | respons relev legitim fund make |
| global | reap benefit contain cost financi | global | also help member work togeth |
| also | benefit contain cost financi global | also | help member work togeth address |
| need | member work togeth address problem | need | multilater solut reform program undertak |
| market | voic surveil crisi prevent financi | market | issu work lowincom countri work |
| countri | financi market issu work lowincom | countri | work develop sustain incom model |
| need | element new quota formula especi | need | gdp calcul use purchas power |
| need | play role reform fundament consensus | need | shift vote share toward emerg |
| countri | vote share toward emerg develop | countri | whole also agre weekend total |
| also | toward emerg develop countri whole | also | agre weekend total quota increas |
| countri | least doubl protect posit lowincom | countri | essenti featur govern reform need |
| need | countri essenti featur govern reform | need | order preserv fund legitimaci cours |
| need | fund legitimaci cours reform process | need | complet underestim challeng involv commit |
| polici | framework year first ever comprehens | polici | statement surveil reaffirm surveil focus |
| countri | surveil focus core mandatenam promot | countri | extern stabil reaffirm central exchang |
| need | sometim involv tell inconveni truth | need | give due respect complex sensit |
| also | complex sensit issu involv year | also | saw success complet first multilater |
| global | clarifi member intent measur reduc | global | imbal also potenti use issu |
| also | intent measur reduc global imbal | also | potenti use issu multilater concern |
| market | would use member complac emerg | market | crise yet consign histori make |
| market | fund continu deepen work financi | market | issu drawn work mcdonough committe |
| market | colleagu work increas particip financi | market | specialist articl iv mission area |
| market | fund analyt tool gaug financi | market | vulner chang reflect increas demand |
| countri | updat improv focus work lowincom | countri | time includ improv project aid |
| countri | project aid inflow make sure | countri | fiscal space need expand social |
| need | make sure countri fiscal space | need | expand social program especi health |
| growth | bank area key promot higher | growth | greater poverti reduct lowincom countri |
| countri | growth greater poverti reduct lowincom | countri | draw work committe led pedro |
| need | incom model fund complet accept | need | new model substanti consensus detail |
| need | percent real term threeyear period | need | reach consensus polici anchor incom |
| polici | threeyear period need reach consensus | polici | anchor incom expenditur futur manag |
| also | forward differ scenario hope membership | also | readi make decis need keep |
| need | membership also readi make decis | need | keep institut sound financi foot |
| global | chang respons chang world financi | global | also shown fund willing set |
| also | respons chang world financi global | also | shown fund willing set embrac |
| also | welcom successor dominiqu strausskahn would | also | like congratul welcom tommaso padoaschioppa |
| countri | chair almost decad prime minist | countri | unit kingdom time manag director |
| also | portug takatoshi kato friendship loyalti | also | colleagu world bank jim wolfensohn |
| also | wolfensohn paul wolfowitz bob zoellick | also | want thank fund execut board |
| also | inde gone engin chang institut | also | want thank governor support ask |
| economi | explain imf approach surveil china | economi | imf truth squad sent correct |
| polici | way go play role trust | polici | advis seat tabl put especi |
| polici | handi target conveni scapegoat broad | polici | term staff report multilater consult |
| econom | consult exemplifi imf stand surveil | econom | polici major economi particip exercis |
| polici | exemplifi imf stand surveil econom | polici | major economi particip exercis china |
| economi | stand surveil econom polici major | economi | particip exercis china euro area |
| polici | japan saudi arabia unit state | polici | plan laid context judg meet |
| global | set imfc bring order adjust | global | imbal time polici individu countri |
| polici | order adjust global imbal time | polici | individu countri interest polici plan |
| countri | global imbal time polici individu | countri | interest polici plan come thin |
| polici | time polici individu countri interest | polici | plan come thin air signific |
| need | public statement remark md stress | need | greater exchang rate flexibl appreci |
| econom | staff posit renminbi evolv line | econom | develop china report staff said |
| polici | china abil pursu independ monetari | polici | staff also maintain view difficult |
| also | pursu independ monetari polici staff | also | maintain view difficult find persuas |
| need | clear renminbi undervalu exchang rate | need | adjust recent strong capit inflow |
| growth | control tri contain invest credit | growth | major preoccup macroeconom polici past |
| polici | credit growth major preoccup macroeconom | polici | past four year possibl solv |
| polici | renminbi appreci provid scope monetari | polici | oper mayb part bother mussa |
| economi | rate import alon enough rebalanc | economi | away heavi relianc invest export |
| growth | away heavi relianc invest export | growth | toward consumpt china abl sustain |
| growth | consumpt china abl sustain rapid | growth | provid perman contribut resolv global |
| global | growth provid perman contribut resolv | global | imbal exchang rate one sever |
| economi | aziz cui overal case rebalanc | economi | laid septemb financ develop articl |
| financ | case rebalanc economi laid septemb | financ | develop articl aziz dunaway exchang |
| growth | exchang rate rais credit invest | growth | slow composit invest shift away |
| market | time bank intermedi improv capit | market | permit develop better alloc capit |
| market | capit one key element financi | market | reform remov ceil bank deposit |
| also | incom boost consumpt time govern | also | play major role rebalanc economi |
| economi | also play major role rebalanc | economi | remov uncertainti contribut high precautionari |
| economi | care pension author recogn china | economi | need rebalanc along line reflect |
| need | pension author recogn china economi | need | rebalanc along line reflect china |
| polici | rebalanc along line reflect china | polici | plan put forth context multilater |
| also | forth context multilater consult imf | also | argu critic maintain focus appropri |
| economi | appropri primari object rebalanc china | economi | reduc current account surplus goal |
| economi | account surplus goal howev rebalanc | economi | perman reduct current account surplus |
| polici | account surplus achiev agre basic | polici | key remain differ imf staff |
| economi | chines costless delay reform distort | economi | grow day day proceed slowli |
| also | grow day day proceed slowli | also | test patienc rest world close |
| econom | sever year seen strike improv | econom | polici econom perform mani countri |
| polici | year seen strike improv econom | polici | econom perform mani countri latin |
| econom | seen strike improv econom polici | econom | perform mani countri latin america |
| countri | econom polici econom perform mani | countri | latin america would like talk |
| econom | america would like talk today | econom | prospect latin america especi wake |
| global | america especi wake recent turbul | global | financi market also polici latin |
| market | wake recent turbul global financi | market | also polici latin american countri |
| also | recent turbul global financi market | also | polici latin american countri follow |
| polici | turbul global financi market also | polici | latin american countri follow guard |
| countri | market also polici latin american | countri | follow guard risk improv econom |
| econom | countri follow guard risk improv | econom | posit one trend support growth |
| growth | econom posit one trend support | growth | stabil latin america past decad |
| countri | decad increas integr latin american | countri | global economi cours price increas |
| global | increas integr latin american countri | global | economi cours price increas integr |
| economi | integr latin american countri global | economi | cours price increas integr potenti |
| market | demand import chang condit financi | market | therefor make sens begin analysi |
| global | make sens begin analysi go | global | economi look implic latin american |
| economi | sens begin analysi go global | economi | look implic latin american region |
| polici | obvious event domin headlin mind | polici | maker turmoil credit market intern |
| market | mind polici maker turmoil credit | market | intern monetari fund believ turmoil |
| market | bank reliev liquid shortag overnight | market | certain help event financi market |
| market | market certain help event financi | market | still unfold month extent bank |
| market | clear great question impact financi | market | disrupt real economi concern led |
| economi | impact financi market disrupt real | economi | concern led fed lower interest |
| econom | decis sensibl help limit wider | econom | impact recent turbul nevertheless expect |
| econom | turbul nevertheless expect recent develop | econom | impact extent remain uncertain long |
| market | remain uncertain long situat financi | market | remain fluid basi current inform |
| growth | seem turbul unlik much effect | growth | figur product invest consumpt decis |
| global | product invest consumpt decis affect | global | gdp alreadi taken turbul began |
| global | believ effect still modest expect | global | growth slight lower still high |
| growth | effect still modest expect global | growth | slight lower still high histor |
| countri | view solid fundament advanc develop | countri | provid resili global econom expans |
| global | advanc develop countri provid resili | global | econom expans stress financi market |
| econom | develop countri provid resili global | econom | expans stress financi market turbul |
| market | global econom expans stress financi | market | turbul turn prolong impact global |
| global | market turbul turn prolong impact | global | economi could substanti clear risk |
| economi | turbul turn prolong impact global | economi | could substanti clear risk global |
| global | economi could substanti clear risk | global | economi tilt downsid say next |
| economi | could substanti clear risk global | economi | tilt downsid say next week |
| econom | say next week present world | econom | outlook detail assess global econom |
| global | world econom outlook detail assess | global | econom prospect global outlook impli |
| econom | econom outlook detail assess global | econom | prospect global outlook impli latin |
| global | detail assess global econom prospect | global | outlook impli latin america project |
| global | latin america project modest fall | global | growth pictur latin america remain |
| growth | america project modest fall global | growth | pictur latin america remain basic |
| growth | knock one half one percent | growth | countri region although earli assess |
| countri | one half one percent growth | countri | region although earli assess specif |
| economi | earli assess specif effect real | economi | correct notabl departur past episod |
| growth | latin america quit vulner reduct | growth | outsid region especi worsen condit |
| countri | region especi worsen condit advanc | countri | financi market let explain think |
| market | worsen condit advanc countri financi | market | let explain think thing differ |
| countri | around describ way latin american | countri | could advers affect global develop |
| global | american countri could advers affect | global | develop reason think effect limit |
| growth | american export could certain affect | growth | region howev latin american countri |
| countri | growth region howev latin american | countri | offer protect chang pattern trade |
| countri | share export go unit state | countri | like affect turbul fell percent |
| global | total export percent reflect broad | global | trend emerg economi includ latin |
| economi | reflect broad global trend emerg | economi | includ latin america becom import |
| global | latin america becom import sourc | global | demand potenti engin global growth |
| global | sourc global demand potenti engin | global | growth mani latin american countri |
| growth | global demand potenti engin global | growth | mani latin american countri benefit |
| countri | global growth mani latin american | countri | benefit larg gain term trade |
| countri | commod price suggest latin american | countri | major export commod could lose |
| global | export commod could lose lower | global | growth reduc demand henc price |
| growth | commod could lose lower global | growth | reduc demand henc price commod |
| economi | part sustain increas demand emerg | economi | larg declin like sharp downturn |
| global | larg declin like sharp downturn | global | growth past region particular suscept |
| growth | declin like sharp downturn global | growth | past region particular suscept worsen |
| market | particular suscept worsen condit financi | market | far credit market latin america |
| market | condit financi market far credit | market | latin america relat unaffect turbul |
| countri | relat unaffect turbul financi institut | countri | depend heavili extern financ financ |
| financ | institut countri depend heavili extern | financ | financ could affect turmoil credit |
| financ | countri depend heavili extern financ | financ | could affect turmoil credit market |
| market | financ could affect turmoil credit | market | general appear vulner region develop |
| countri | develop much lower today past | countri | region much less depend roll |
| also | shortterm debt past currenc mismatch | also | great reduc extern fiscal posit |
| financ | fiscal posit stronger public sector | financ | requir general low sens latin |
| polici | past crise govern often constrain | polici | respons inflex exchang rate regim |
| growth | payment cut govern spend time | growth | slow today mani countri region |
| countri | time growth slow today mani | countri | region flexibl exchang rate regim |
| also | rate regim give option respond | also | flexibl fiscal polici though area |
| polici | option respond also flexibl fiscal | polici | though area improv need countri |
| need | fiscal polici though area improv | need | countri yet suffici strong abl |
| countri | polici though area improv need | countri | yet suffici strong abl pursu |
| polici | strong abl pursu countercycl fiscal | polici | debt ratio across region still |
| countri | region still uncomfort high final | countri | region may concern loss remitt |
| econom | fund staff summar forthcom region | econom | outlook western hemispher suggest littl |
| econom | littl direct relationship amount remitt | econom | condit unit state situat bear |
| countri | state situat bear watch especi | countri | like mexico el salvador remitt |
| market | first alreadi indic risk financi | market | turmoil may continu get wors |
| also | latin america direct export u | also | indirect suffici effect econom growth |
| econom | u also indirect suffici effect | econom | growth advanc economi major emerg |
| growth | also indirect suffici effect econom | growth | advanc economi major emerg market |
| economi | suffici effect econom growth advanc | economi | major emerg market export unit |
| market | growth advanc economi major emerg | market | export unit state reduc growth |
| growth | market export unit state reduc | growth | countri also credit crisi spread |
| countri | export unit state reduc growth | countri | also credit crisi spread major |
| also | unit state reduc growth countri | also | credit crisi spread major emerg |
| market | credit crisi spread major emerg | market | countri stress seem happen moment |
| countri | crisi spread major emerg market | countri | stress seem happen moment could |
| market | could lead reassess risk emerg | market | moreov econom fundament latin america |
| econom | reassess risk emerg market moreov | econom | fundament latin america stronger averag |
| also | latin america stronger averag past | also | variat countri alreadi notic market |
| countri | stronger averag past also variat | countri | alreadi notic market cours implic |
| market | also variat countri alreadi notic | market | cours implic polici govern follow |
| polici | alreadi notic market cours implic | polici | govern follow let know turn |
| polici | govern follow let know turn | polici | fiscal polici cours remain particular |
| polici | let know turn polici fiscal | polici | cours remain particular import mani |
| countri | cours remain particular import mani | countri | seen improv structur fiscal posit |
| polici | past year reflect improv tax | polici | administr well effect higher commod |
| countri | current expenditur recent year mani | countri | revenu could fall commod price |
| financ | effort falter would therefor advis | financ | ministri avoid sharp increas govern |
| polici | public debt ratio area monetari | polici | mani countri region right thing |
| countri | ratio area monetari polici mani | countri | region right thing latin america |
| countri | region right thing latin america | countri | around world govern recogn virtu |
| growth | real interest rate support higher | growth | nevertheless central bank regul may |
| need | see test time ahead certain | need | remain focus inflat risk includ |
| global | rise food price given uncertainti | global | credit market need make sure |
| market | price given uncertainti global credit | market | need make sure good inform |
| need | given uncertainti global credit market | need | make sure good inform risk |
| polici | profil major domest financi institut | polici | maker also need make decis |
| also | domest financi institut polici maker | also | need make decis develop regul |
| need | financi institut polici maker also | need | make decis develop regul financi |
| market | make decis develop regul financi | market | financi market develop import latin |
| market | develop regul financi market financi | market | develop import latin america growth |
| growth | market develop import latin america | growth | recent develop advanc economi financi |
| economi | america growth recent develop advanc | economi | financi market hold import lesson |
| market | recent develop advanc economi financi | market | hold import lesson region develop |
| market | import lesson region develop financi | market | regulatori infrastructur thing avoid financi |
| market | regulatori infrastructur thing avoid financi | market | develop area structur reform crucial |
| countri | total govern spend latin american | countri | increas privat sector invest expect |
| polici | combin tax law public expenditur | polici | key sector suffici encourag invest |
| market | return domest foreign investor stabl | market | condit provid stabil contract welldefin |
| also | resolut process public invest must | also | strengthen new fiscal paramet requir |
| also | improv effici program public invest | also | need develop countri capac plan |
| need | effici program public invest also | need | develop countri capac plan public |
| countri | public invest also need develop | countri | capac plan public invest well |
| also | public invest well spend wise | also | import latin american govern continu |
| growth | multilater agenc show period sinc | growth | signific effect reduc poverti trend |
| growth | reduc poverti trend toward propoor | growth | reflect declin declin poverti argentina |
| polici | live poverti govern use fiscal | polici | reduc inequ inde mani govern |
| countri | help exampl revenu side number | countri | recent introduc tax paid most |
| also | properti financi incom govern could | also | reduc exempt normal benefit high |
| polici | possibl set lower rate expenditur | polici | also use promot equiti increas |
| also | set lower rate expenditur polici | also | use promot equiti increas equal |
| polici | way would pursu direct social | polici | realloc spend toward program design |
| also | social assist qualiti expenditur sector | also | improv exampl know educ crucial |
| global | educ crucial equal opportun particular | global | world recent studi econom commiss |
| econom | particular global world recent studi | econom | commiss latin america caribbean estim |
| also | much benefit poorer peopl progress | also | made area exampl govern could |
| polici | area exampl govern could adopt | polici | aim increas access poor financ |
| financ | polici aim increas access poor | financ | includ encourag microfin institut microfin |
| also | area help peopl lift poverti | also | help channel remitt toward product |
| countri | fund seen great progress mani | countri | much owe serious sophist leader |
| countri | owe serious sophist leader offici | countri | past year fund work close |
| countri | fund work close latin american | countri | given support latin american govern |
| econom | american govern societi difficult time | econom | crisi instabl sometim countri support |
| countri | time econom crisi instabl sometim | countri | support know challeng certain kind |
| global | clear complet integr latin america | global | economi rapid sustain growth signific |
| economi | complet integr latin america global | economi | rapid sustain growth signific durabl |
| growth | america global economi rapid sustain | growth | signific durabl poverti reduct good |
| polici | signific durabl poverti reduct good | polici | good luck extern econom develop |
| econom | good polici good luck extern | econom | develop goal achiev progress latin |
| market | gather time great fluiditi financi | market | outlook global economi uncertain recent |
| global | great fluiditi financi market outlook | global | economi uncertain recent past titl |
| economi | fluiditi financi market outlook global | economi | uncertain recent past titl seminar |
| market | elabor detail recent event financi | market | point rebalanc assess price risk |
| growth | risk like lead rebalanc currenc | growth | forese futur would like begin |
| global | begin talk first give overview | global | set see realiz interest view |
| market | interest view recent turbul financi | market | turn next conclud discuss sever |
| global | imf mission redefin adapt chang | global | economi global settingth global expans |
| economi | mission redefin adapt chang global | economi | global settingth global expans underway |
| global | redefin adapt chang global economi | global | settingth global expans underway five |
| global | chang global economi global settingth | global | expans underway five year global |
| global | global expans underway five year | global | growth strong broadbas slide emerg |
| growth | expans underway five year global | growth | strong broadbas slide emerg market |
| market | growth strong broadbas slide emerg | market | engin growth current growth becom |
| growth | broadbas slide emerg market engin | growth | current growth becom better balanc |
| growth | emerg market engin growth current | growth | becom better balanc year first |
| global | china contribut largest part increas | global | growth measur market exchang rate |
| growth | contribut largest part increas global | growth | measur market exchang rate well |
| market | part increas global growth measur | market | exchang rate well purchas power |
| growth | rate well purchas power term | growth | mani emerg market countri except |
| market | power term growth mani emerg | market | countri except strong first half |
| countri | term growth mani emerg market | countri | except strong first half counterbalanc |
| growth | euro area japan seen solid | growth | earlier year weaken sinc second |
| market | second quarter recent turmoil financi | market | led much uncertain situat although |
| market | led much uncertain situat although | market | liquid problem reced come month |
| growth | credit condit activ prepar lower | growth | project moder accord growth forecast |
| growth | lower growth project moder accord | growth | forecast mark growth nonetheless remain |
| growth | moder accord growth forecast mark | growth | nonetheless remain strong level expect |
| also | previous tighter credit condit could | also | dampen domest demand europ japan |
| global | rough financi water provid resili | global | econom expans advanc economi econom |
| econom | financi water provid resili global | econom | expans advanc economi econom fundament |
| economi | resili global econom expans advanc | economi | econom fundament remain solid balanc |
| econom | global econom expans advanc economi | econom | fundament remain solid balanc sheet |
| market | financi institut strong onset current | market | turbul financi posit corpor remain |
| economi | financi posit corpor remain robust | economi | also enter period turmoil posit |
| also | posit corpor remain robust economi | also | enter period turmoil posit level |
| market | confid general healthi situat labor | market | household net wealth emerg market |
| market | market household net wealth emerg | market | countri emc recent growth momentum |
| countri | household net wealth emerg market | countri | emc recent growth momentum strong |
| growth | emerg market countri emc recent | growth | momentum strong improv balanc sheet |
| polici | momentum strong improv balanc sheet | polici | framework provid resili face current |
| polici | substanti intern reserv fiscal monetari | polici | framework also improv mani countri |
| also | reserv fiscal monetari polici framework | also | improv mani countri price stabil |
| countri | polici framework also improv mani | countri | price stabil becom cornerston monetari |
| polici | price stabil becom cornerston monetari | polici | number countri adopt move adopt |
| countri | becom cornerston monetari polici number | countri | adopt move adopt inflat target |
| also | move adopt inflat target mani | also | flexibl exchang rate regim act |
| market | circumst direct exposur u subprim | market | remain quit small result posit |
| countri | slide said pocket vulner particular | countri | depend heavili extern flow financ |
| financ | countri depend heavili extern flow | financ | larg current account deficit rapid |
| growth | current account deficit rapid credit | growth | slide case discuss detail later |
| market | attent scrutini let discuss financi | market | condit see unfold risk global |
| global | market condit see unfold risk | global | outlook ii end complac turbul |
| global | decad period rapid farreach chang | global | economi process global acceler slide |
| economi | period rapid farreach chang global | economi | process global acceler slide impress |
| global | farreach chang global economi process | global | acceler slide impress progress interspers |
| market | keep pace chang latest financi | market | volatil brought new challeng recent |
| market | new challeng recent develop financi | market | came time spread volatil histor |
| market | standard notabl u subprim hous | market | securit financi innov made easier |
| also | made easier transfer credit risk | also | appear encourag lender focus volum |
| market | rate agenc seen light financi | market | develop repres return greater market |
| market | market develop repres return greater | market | disciplin compar recent past good |
| global | disciplin compar recent past good | global | economi longerterm realist asset valuationsa |
| economi | compar recent past good global | economi | longerterm realist asset valuationsa rebalanc |
| global | price riskshould provid foundat mediumterm | global | strength said correct extrem turbul |
| market | distress asset rais host uncertainti | market | dri becom difficult imposs valu |
| market | surpris extent exposur u subprim | market | rais question whether relev perimet |
| market | result dramat dri liquid fund | market | sever central banksinclud ecb fed |
| market | window order restor smooth function | market | slide fed also lower feder |
| also | smooth function market slide fed | also | lower feder fund rate help |
| market | output still may take time | market | liquid return normal still signific |
| also | clear broad pullback riski asset | also | possibl credit condit could becom |
| market | linkag underdevelop macroeconom model beyond | market | chang rapid recent year mani |
| growth | briefli discuss although alreadi mark | growth | project unit state weaker hous |
| market | project unit state weaker hous | market | sustain tighten credit condit could |
| econom | tighten credit condit could depress | econom | activ slide mani hous indic |
| market | condit spread beyond subprim mortgag | market | jumbo prime mortgag also affect |
| also | mortgag market jumbo prime mortgag | also | affect mani mortgag financ compani |
| financ | mortgag also affect mani mortgag | financ | compani shut fund market result |
| market | mortgag financ compani shut fund | market | result rate downgrad credit card |
| also | card user highyield corpor borrow | also | feel pinch higher spread go |
| market | higher spread go forward hous | market | delinqu rate expect continu rise |
| growth | invest could advers affect drag | growth | corpor side increas uncertainti coupl |
| also | affect invest euro area japan | also | like affect slide growth economi |
| growth | japan also like affect slide | growth | economi solid earlier year weaken |
| economi | also like affect slide growth | economi | solid earlier year weaken sinc |
| market | affect spillov turmoil u subprim | market | mark growth forecast bad news |
| growth | turmoil u subprim market mark | growth | forecast bad news financi market |
| market | growth forecast bad news financi | market | evid pervas spillov could reduc |
| growth | evid pervas spillov could reduc | growth | even japan also modest reduc |
| also | could reduc growth even japan | also | modest reduc growth forecast appear |
| growth | even japan also modest reduc | growth | forecast appear much less direct |
| market | less direct exposur u subprim | market | yen appreci sharpli carri trade |
| growth | disord unwind could advers effect | growth | econom activ could also affect |
| econom | unwind could advers effect growth | econom | activ could also affect fall |
| also | effect growth econom activ could | also | affect fall equiti price slower |
| global | affect fall equiti price slower | global | growth risk emc like depend |
| growth | fall equiti price slower global | growth | risk emc like depend countryspecif |
| also | howev increas trade financi linkag | also | make suscept insidi slowdown global |
| global | also make suscept insidi slowdown | global | growth even reason concern much |
| growth | make suscept insidi slowdown global | growth | even reason concern much greater |
| countri | even reason concern much greater | countri | other number countri reli larg |
| countri | much greater countri other number | countri | reli larg extern inflowsparticular bank |
| financ | larg extern inflowsparticular bank flowsto | financ | current account deficit credit growth |
| growth | financ current account deficit credit | growth | rapid asset price increas inflow |
| market | affect general retrench risk especi | market | liquid remain limit even surplus |
| countri | liquid remain limit even surplus | countri | relianc bank flow fund credit |
| growth | relianc bank flow fund credit | growth | increas countri vulner reduct revers |
| countri | flow fund credit growth increas | countri | vulner reduct revers flow phenomenon |
| economi | improv macroeconom manag provid resili | economi | key risk see immedi horizon |
| growth | exampl rise summer appear eas | growth | slow slide howev high food |
| global | period ahead suppli remain tight | global | oil market also remain firm |
| market | suppli remain tight global oil | market | also remain firm spare capac |
| also | remain tight global oil market | also | remain firm spare capac limit |
| global | firm spare capac limit slide | global | imbalancesso far main spoken risk |
| global | far main spoken risk shortterm | global | outlook also key mediumterm vulner |
| also | spoken risk shortterm global outlook | also | key mediumterm vulner import bear |
| global | import bear mind press issu | global | imbal project larg persist forese |
| need | currenciesa highlight titl seminar seriesi | need | resolv global imbal financi global |
| global | titl seminar seriesi need resolv | global | imbal financi global allow smooth |
| global | need resolv global imbal financi | global | allow smooth financ persist imbal |
| financ | imbal financi global allow smooth | financ | persist imbal save invest dramat |
| financ | dramat low save unit state | financ | excess save asia oil export |
| countri | excess save asia oil export | countri | slide current polici imbal persist |
| polici | oil export countri slide current | polici | imbal persist well mediumterm specif |
| global | remain close  ½ percent | global | gdp time emerg asia project |
| financ | u current account deficit continu | financ | easili put differ world net |
| financ | world net saver continu will | financ | world net dissav date u |
| financ | u current account deficit easili | financ | investor attract appar sophist secur |
| financ | secur foreign account almost extern | financ | flow unit state recent market |
| market | financ flow unit state recent | market | turmoil investor shift away riskier |
| market | like temporari relat problem fund | market | remain seen whether disillusion complex |
| financ | investor shun subset dollar asset | financ | u current account deficit may |
| global | forward rais risk disord adjust | global | imbal although exchang rate move |
| global | real effect term sinc begin | global | imbal persist order adjust scenario |
| financ | exchang rate movement would smooth | financ | howev sustain shift investor sentiment |
| market | u dollar asset sea chang | market | expect trajectori dollar could contribut |
| countri | see two interrel issu first | countri | percept benefit open economi fulli |
| economi | first countri percept benefit open | economi | fulli share among differ group |
| polici | partner believ use exchang rate | polici | competit advantag part result pronounc |
| countri | pronounc lack progress doha round | countri | instead turn bilater trade treati |
| global | resist could increas substanti face | global | slowdown rise unemploy imf help |
| global | rise unemploy imf help resolv | global | imbal imf initi first multilater |
| global | first multilater consult focus reduc | global | imbal sustain strong global growth |
| global | reduc global imbal sustain strong | global | growth spring meet five participantschina |
| growth | global imbal sustain strong global | growth | spring meet five participantschina euro |
| polici | saudi arabia unit statesjoint set | polici | aim reduc risk disord resolut |
| polici | reduc risk disord resolut imbal | polici | plan concret mutual consist also |
| also | polici plan concret mutual consist | also | particip interest progress made sever |
| polici | invest key area advanc structur | polici | europ japan china move increas |
| growth | concern china rapid credit invest | growth | time contribut order resolut global |
| global | growth time contribut order resolut | global | imbal slide part imf play |
| global | quit bit benefit challeng brought | global | financi innov seen benefit point |
| global | innov seen benefit point strong | global | growth recent yearsparticular emc also |
| growth | seen benefit point strong global | growth | recent yearsparticular emc also wit |
| also | global growth recent yearsparticular emc | also | wit new challeng especi past |
| need | redefin mission better meet evolv | need | membership mani way thisinclud multilater |
| polici | imf mandateth process assess macroeconom | polici | member provid advic better align |
| growth | align object macroeconom stabil order | growth | second issu discuss reform govern |
| econom | reform govern structur reflect chang | econom | weight role member particular strengthen |
| market | member particular strengthen role emerg | market | member also enhanc voic lowincom |
| also | strengthen role emerg market member | also | enhanc voic lowincom member surveillanceth |
| economi | everi effort strengthen surveil member | economi | global economi emphasi surveil know |
| global | effort strengthen surveil member economi | global | economi emphasi surveil know mani |
| economi | strengthen surveil member economi global | economi | emphasi surveil know mani observ |
| countri | firefight provid emerg financi assist | countri | financi crise one role thank |
| polici | crise one role thank improv | polici | anduntil recentlya benign extern environ |
| countri | recentlya benign extern environ mani | countri | need borrow imf fact sever |
| need | benign extern environ mani countri | need | borrow imf fact sever member |
| global | slide occur time vast chang | global | financi system better respond challeng |
| global | system better respond challeng increas | global | economi imf process reform surveil |
| economi | better respond challeng increas global | economi | imf process reform surveil framework |
| econom | talk bilater surveil assess member | econom | polici focus main newli redefin |
| polici | bilater surveil assess member econom | polici | focus main newli redefin role |
| polici | role assess member exchang rate | polici | let first say word key |
| global | semiannu public summar view state | global | financi system two flagship publicationsth |
| econom | system two flagship publicationsth world | econom | outlook global financi stabil reportw |
| global | flagship publicationsth world econom outlook | global | financi stabil reportw strive provid |
| global | reportw strive provid time analysi | global | macroeconom financi develop everi corner |
| polici | everi corner world identifi key | polici | challeng pose surveil global level |
| global | key polici challeng pose surveil | global | level feed bilater surveil member |
| countri | level feed bilater surveil member | countri | macroeconom posit polici framework imf |
| polici | surveil member countri macroeconom posit | polici | framework imf evolv time way |
| global | way conduct surveil adapt chang | global | environ strengthen bilater surveil includ |
| polici | effect surveil cover exchang rate | polici | also domest polici crystal common |
| also | surveil cover exchang rate polici | also | domest polici crystal common vision |
| polici | exchang rate polici also domest | polici | crystal common vision today best |
| polici | new decis clarifi exchang rate | polici | countri avoid polici may concern |
| countri | decis clarifi exchang rate polici | countri | avoid polici may concern intern |
| polici | exchang rate polici countri avoid | polici | may concern intern communiti updat |
| also | heart old decis surveil decis | also | includ principl recommend member avoid |
| polici | recommend member avoid exchang rate | polici | result extern instabl regardless intent |
| polici | therebi newli captur exchang rate | polici | proven major sourc instabl past |
| countri | stabil exchang rate key link | countri | often differ sector one economi |
| economi | countri often differ sector one | economi | movement lack thereof exchang rate |
| econom | provid critic inform signific impact | econom | condit countri time distress exchang |
| countri | inform signific impact econom condit | countri | time distress exchang rate move |
| countri | time past movement especi pain | countri | exchang rate overvalu prior period |
| countri | undervalu exchang rate put pressur | countri | mention domest monetari condit either |
| econom | equilibrium time distress make shortterm | econom | financi consequ damag reason wealong |
| countri | asset word first seek determin | countri | current account norm consist fundament |
| need | deem broad equilibrium exchang rate | need | move reestablish equilibrium signal undervalu |
| need | misalign would call fundament second | need | recogn mani methodolog use make |
| need | state knowledg far perfect estim | need | base care judgment take account |
| countri | base care judgment take account | countri | circumst mechan applic formula inde |
| market | methodolog cover major advanc emerg | market | plan extens lowincom countri export |
| countri | emerg market plan extens lowincom | countri | export nonrenew resourc cger methodolog |
| countri | approach macroeconom balanc approach determin | countri | current account norm function mediumterm |
| econom | current account norm function mediumterm | econom | fundament compar under current account |
| need | chang real effect exchang rate | need | bring under current account line |
| countri | approach util intertempor budget constraintlink | countri | net foreign asset nfa current |
| econom | foreign asset nfa current account | econom | growth rate returnto deriv current |
| growth | asset nfa current account econom | growth | rate returnto deriv current account |
| need | chang real effect exchang rate | need | bring under current account level |
| need | bring under current account level | need | stabil nfa benchmark level result |
| economi | imfwith member relat posit world | economi | second enhanc particip voic lowincom |
| countri | second enhanc particip voic lowincom | countri | imf reform critic continu effect |
| also | underrepres memberschina korea mexico turkey | also | agre reform includ second round |
| global | better reflect relat posit member | global | economi equal import governor commit |
| economi | reflect relat posit member global | economi | equal import governor commit ensur |
| countri | commit ensur vote share lowincom | countri | group protect includ least doubl |
| also | quota use calcul vote power | also | call consider board enabl execut |
| polici | mani area work better align | polici | procedur evolv need member leav |
| need | better align polici procedur evolv | need | member leav area anoth time |
| global | conclud final remark earlier discuss | global | set put forth imf view |
| market | imf view recent turmoil financi | market | dampen effect global growth overal |
| global | turmoil financi market dampen effect | global | growth overal growth remain robust |
| growth | financi market dampen effect global | growth | overal growth remain robust said |
| growth | dampen effect global growth overal | growth | remain robust said cannot rule |
| market | cannot rule unpleas surpris financi | market | point import imf surveil critic |
| countri | imf surveil critic tool help | countri | market make inform judgment polici |
| market | surveil critic tool help countri | market | make inform judgment polici invest |
| polici | countri market make inform judgment | polici | invest decis recognit critic natur |
| global | critic natur surveil mandat new | global | economi imf take step strengthen |
| economi | natur surveil mandat new global | economi | imf take step strengthen mandat |
| polici | improv assess member exchang rate | polici | also continu effort help resolv |
| also | assess member exchang rate polici | also | continu effort help resolv global |
| global | also continu effort help resolv | global | imbal activ monitor implement polici |
| polici | global imbal activ monitor implement | polici | commit made particip first multilater |
| also | continu import work cgd would | also | like congratul goldsbrough member work |
| countri | strong focus effect engag lowincom | countri | critic understand polici option larg |
| polici | engag lowincom countri critic understand | polici | option larg role mediumterm strategi |
| countri | ventur sector decisionmak advis member | countri | area like fiscal sustain presenc |
| countri | agre central part job help | countri | explor polici option recent board |
| polici | part job help countri explor | polici | option recent board guidanc made |
| need | recent board guidanc made clear | need | develop altern aid spend scenario |
| also | estim respons extend beyond mandat | also | expertis often avail one thing |
| also | best estim amount aid expect | also | repeat urg donor give aid |
| econom | donor give aid next region | econom | outlook compar result countrylevel aid |
| economi | malawi program instrument help stabil | economi | turn help promot growth reduc |
| growth | stabil economi turn help promot | growth | reduc interest domest debt percent |
| polici | transpar proactiv possibl discuss rational | polici | assumpt under program upcom board |
| also | process share main conclus report | also | think play construct role help |
| polici | role help author consid rang | polici | choic report will give us |
| countri | better agre argument unduli constrain | countri | polici choic disagre report instanc |
| polici | agre argument unduli constrain countri | polici | choic disagre report instanc gloss |
| financ | requir program limit recours monetari | financ | help reduc inflat singl digit |
| polici | matter report recogn determin appropri | polici | also someth els report recogn |
| also | report recogn determin appropri polici | also | someth els report recogn end |
| econom | make decis money spent necessarili | econom | naiv often prefer avoid over |
| need | optimist aid project later avoid | need | unpopular expenditur cut general decis |
| financ | decis depend uncertain foreign donat | financ | key govern function easi need |
| need | financ key govern function easi | need | great intern communiti dismiss aspir |
| countri | great intern communiti dismiss aspir | countri | wish travel somewhat differ path |
| growth | real appreci potenti advers effect | growth | limit use aid case turn |
| financ | dollar cannot use accumul reserv | financ | addit spend work author bring |
| polici | work author bring fiscal monetari | polici | line strategi aid use sum |
| need | suggest earlier arbitr compet sector | need | help author make room social |
| countri | health spend averag larger lowincom | countri | fundsupport program even control possibl |
| countri | fund program constrain health spend | countri | conclud let mention one import |
| polici | constraint rather excess tight macroeconom | polici | may main factor constrain rapid |
| financ | spend health seen time benin | financ | minist experienc manag short suppli |
| econom | survey conduct cgd intern aid | econom | network intern health profession found |
| countri | conclud stage mani low incom | countri | stabil economi report say adapt |
| economi | mani low incom countri stabil | economi | report say adapt work new |
| global | financi system broaden deepen securit | global | stand reason concept system risk |
| also | stand reason concept system risk | also | must recalibr sure rang question |
| need | must recalibr sure rang question | need | think difficult inevit intertwin market |
| market | need think difficult inevit intertwin | market | liber technolog chang reflect impress |
| global | answer balanc remark address question | global | system risk four challeng central |
| global | precis possibleth mean system risk | global | financi market second tool polici |
| market | mean system risk global financi | market | second tool polici avail present |
| polici | global financi market second tool | polici | avail present control risk third |
| need | avail present control risk third | need | chang effect limit system risk |
| global | said one strike featur financi | global | broaden reach financi institut market |
| market | global broaden reach financi institut | market | creat abil dispers risk much |
| global | risk much wide previous process | global | risk transfer facilit securit use |
| global | believ one relev facet financi | global | event past month demonstr process |
| global | unit state fact aspect financi | global | work well nowabstract issu whether |
| market | predict map chang under hous | market | price relev deriv secur liquid |
| market | liquid disrupt emerg quicklyboth term | market | liquid instrument fund liquid institut |
| global | unexpect anoth key featur financi | global | expect continu liquid readi price |
| market | understand instrument like low even | market | liquid effect becom buyandhold secur |
| market | howev demonstr exist fluid continu | market | complex instrument may count moment |
| market | tend complic investor abil anticip | market | shift result chang fundament shift |
| market | continu stock exchang impairedth futur | market | also suffer inform convey time |
| also | stock exchang impairedth futur market | also | suffer inform convey time manner |
| market | prepay risk mortgag way mani | market | particip anticip thought understood risk |
| market | issuanc sophist product grew rapid | market | capac implicit becam stretch uncertainti |
| market | dri price gap appear boost | market | volatil rais uncertainti return basic |
| global | question defin system risk securit | global | market experi suggest system risk |
| market | defin system risk securit global | market | experi suggest system risk creat |
| market | event heighten uncertainti sharpli impair | market | liquid illiquid lead price gap |
| market | illiquid lead price gap individu | market | price specif asset associ stress |
| market | institut across globe support individu | market | market illiquid turn lead potenti |
| market | across globe support individu market | market | illiquid turn lead potenti signific |
| econom | turn lead potenti signific real | econom | effect thus justifi polici action |
| polici | real econom effect thus justifi | polici | action especi central bank sever |
| global | sever aspect portray associ financi | global | first impact identifi system risk |
| countri | risk wider previous encompass individu | countri | even region thus impact recent |
| market | theme first address event lead | market | illiquid provis inform improv regard |
| market | inform provid instrument trade public | market | potenti buyer seller need abl |
| need | public market potenti buyer seller | need | abl access appropri inform instrument |
| need | instrument negoti contract adequ inform | need | access parti contractu agreement present |
| market | present howev increas number instrument | market | fall neat either categori instanc |
| market | credit product expect liquid overthecount | market | abil look structur under asset |
| market | asset structur includ instanc matur | market | associ fund strategi would import |
| also | hold hardtovalu potenti illiquid asset | also | adequ factor risk market illiquid |
| market | asset also adequ factor risk | market | illiquid potenti loss fund sourc |
| need | new financi institut regul entiti | need | provid inform relationship specif exposur |
| market | would like stress improv practic | market | participantsinclud issuer investor intermediariesi possibl |
| also | participantsinclud issuer investor intermediariesi possibl | also | like improv inform flow reduc |
| also | liquid rate howev new regul | also | may need induc parti reveal |
| need | howev new regul also may | need | induc parti reveal inform would |
| need | notion primarili blame suggest investor | need | homework reli entir third parti |
| market | clear investor share blame recent | market | difficulti take credit rate letter |
| need | time rate agenc doubt realiz | need | adapt instrument rate probabl default |
| market | rate probabl default high suscept | market | liquid risk well acknowledg includ |
| market | assess well addit make sure | market | particip access necessari inform role |
| market | outcom outcom like area difficult | market | incent work proper instanc risk |
| need | volatil spike abrupt posit may | need | reduc rapid order satisfi certain |
| also | firm rule credit rate downgrad | also | lead abrupt valuat chang minimum |
| need | chang minimum risk manag techniqu | need | account market particip like action |
| market | risk manag techniqu need account | market | particip like action tail eventsand |
| market | fund liquid provid intensifi ongo | market | sell summar main messag use |
| market | messag use current strain financi | market | understand market weak expos market |
| market | current strain financi market understand | market | weak expos market practic like |
| market | market understand market weak expos | market | practic like adapt knowledg market |
| market | market practic like adapt knowledg | market | incent fail regulatori respons forwardlook |
| need | process financi innov third question | need | chang effect deal aftermath system |
| global | last resort action central bank | global | make harder identifi provid first |
| countri | held individu institut across sever | countri | nontrivi problem could parti need |
| need | countri nontrivi problem could parti | need | emerg support relat uninvolv financi |
| market | uninvolv financi sector even financi | market | may epicent shock countri welldevelop |
| countri | financi market may epicent shock | countri | welldevelop financi system general good |
| polici | system general good inform transpar | polici | may better abl cope econom |
| econom | polici may better abl cope | econom | effect financi disturb economi lack |
| economi | cope econom effect financi disturb | economi | lack characterist may discuss potenti |
| polici | provid catalyt role bring togeth | polici | maker various countriesalong relev intern |
| market | identifi transmiss mechan ensur financi | market | plumb clear settlement system well |
| econom | facilit frank open discuss key | econom | issu mutual interest memberscould use |
| countri | import discuss role imf lowincom | countri | would like thank organ bring |
| countri | notabl reason optim outlook lowincom | countri | although justifi concern emerg potenti |
| global | emerg potenti nearterm risk overcom | global | econom slowdown global economi subsequ |
| econom | potenti nearterm risk overcom global | econom | slowdown global economi subsequ outperform |
| global | risk overcom global econom slowdown | global | economi subsequ outperform expect past |
| economi | overcom global econom slowdown global | economi | subsequ outperform expect past five |
| econom | five year encompass strongest sustain | econom | expans decad best balanc term |
| growth | best balanc term overal gdp | growth | term reduc volatil output anticip |
| econom | intern investor would react favor | econom | financi environ quick expand hold |
| market | hold local currencydenomin secur emerg | market | economi therebi silenc earlier academ |
| economi | local currencydenomin secur emerg market | economi | therebi silenc earlier academ claim |
| countri | therebi silenc earlier academ claim | countri | suffer socal origin sin thus |
| polici | toward establish goal effect openeconomi | polici | enhanc financi sector develop speed |
| growth | enhanc financi sector develop speed | growth | reduc poverti bolster econom stabil |
| econom | speed growth reduc poverti bolster | econom | stabil increas appear attain latest |
| market | turbul past month demonstr capit | market | global integr market imperfect creat |
| global | past month demonstr capit market | global | integr market imperfect creat risk |
| market | demonstr capit market global integr | market | imperfect creat risk real econom |
| econom | market imperfect creat risk real | econom | activ far emerg market relat |
| market | real econom activ far emerg | market | relat less impact volatil heighten |
| global | impact volatil heighten uncertainti howev | global | econom growth slow notabl come |
| econom | volatil heighten uncertainti howev global | econom | growth slow notabl come quarter |
| growth | heighten uncertainti howev global econom | growth | slow notabl come quarter challeng |
| countri | recent year fund role lowincom | countri | chang global econom financi environ |
| global | fund role lowincom countri chang | global | econom financi environ present us |
| econom | role lowincom countri chang global | econom | financi environ present us seri |
| countri | exampl imf financi arrang member | countri | reach record high recent fall |
| global | precipit low level present import | global | economi becom integr everi way |
| economi | low level present import global | economi | becom integr everi way need |
| need | economi becom integr everi way | need | consid ensur lowincom member take |
| countri | goal mts reevalu engag lowincom | countri | make sure effect possibl leverag |
| global | fund lowincom member integr success | global | economi establish sustain faster stabl |
| economi | lowincom member integr success global | economi | establish sustain faster stabl growth |
| growth | economi establish sustain faster stabl | growth | reduc poverti two report releas |
| polici | conclud scope clarif refin fund | polici | well report initi fund alreadi |
| countri | substanti effort reexamin work lowincom | countri | combin fund intern process insight |
| polici | extern report reflect recent fund | polici | paper scalingup aid sought help |
| countri | paper scalingup aid sought help | countri | prepar extract maximum possibl gain |
| also | possibl gain hipc mdri initi | also | establish joint project colleagu world |
| financ | new pilot project issu public | financ | manag financi sector develop manag |
| growth | erad poverti requir sustain rapid | growth | date growth associ exportori openeconomi |
| growth | requir sustain rapid growth date | growth | associ exportori openeconomi polici macroeconom |
| polici | date growth associ exportori openeconomi | polici | macroeconom balanc support appropri fiscal |
| polici | balanc support appropri fiscal monetari | polici | help sustain expans singl path |
| countri | sustain expans singl path success | countri | challeng moreov countri effort polici |
| countri | path success countri challeng moreov | countri | effort polici domin factor creat |
| polici | countri challeng moreov countri effort | polici | domin factor creat necessari condit |
| also | concentr area compar advantag effort | also | base holist approach support overrid |
| growth | support overrid goal rapid sustain | growth | strengthen institut increas social justic |
| countri | term first foremost support lowincom | countri | effort establish maintain macroeconom stabil |
| growth | stabil essenti precondit strong sustain | growth | encourag sign recent progress subsaharan |
| growth | progress subsaharan africa experienc strongest | growth | lowest inflat year growth reach |
| growth | strongest growth lowest inflat year | growth | reach  ¼ percent think |
| countri | faster expans broadbas cut across | countri | group strongest among oil export |
| polici | environ commod price involv fund | polici | advic help countri implement sound |
| countri | involv fund polici advic help | countri | implement sound polici contribut econom |
| polici | advic help countri implement sound | polici | contribut econom stabil sustain rise |
| econom | countri implement sound polici contribut | econom | stabil sustain rise invest faster |
| also | along strong demand commod region | also | benefit rise capit inflow mani |
| also | stabil cours multilater debt relief | also | provid import fact histor room |
| polici | fact histor room maneuv fiscal | polici | key challeng today build momentum |
| countri | tangibl poverti reduct imf help | countri | implement polici establish institut help |
| polici | reduct imf help countri implement | polici | establish institut help take advantag |
| financ | program adequ fund increas domest | financ | draw reserv even period aid |
| also | period aid fall short nonetheless | also | import strengthen donor coordin improv |
| countri | project fund staff help member | countri | develop altern scalingup scenario incorpor |
| countri | aid particular consid import donor | countri | meet gleneagl monterrey commit regard |
| polici | gleneagl monterrey commit regard fiscal | polici | progress inevit involv increas social |
| global | isn surpris recent studi center | global | develop found averag increas health |
| countri | health spend share gdp larger | countri | fundsupport program inde mani program |
| polici | sector educ health howev clear | polici | wagebil ceil use except welljustifi |
| countri | aid flow prioriti sector help | countri | make better use aid flow |
| countri | wide varieti technic assist lowincom | countri | span virtual facet fund expertis |
| polici | expertis includ budget manag tax | polici | financi sector reform econom statist |
| econom | tax polici financi sector reform | econom | statist gather legal reform well |
| econom | statist gather legal reform well | econom | train countri offici imf institut |
| countri | legal reform well econom train | countri | offici imf institut washington number |
| polici | devot subsaharan africa continu refin | polici | support lowincom member particular execut |
| also | institut approach collabor donor stakehold | also | develop joint bankfund manag action |
| econom | meet conclud would like underscor | econom | prospect lowincom countri depend success |
| countri | like underscor econom prospect lowincom | countri | depend success linkag global economi |
| global | lowincom countri depend success linkag | global | economi dynam privat sector effici |
| economi | countri depend success linkag global | economi | dynam privat sector effici financi |
| growth | effici financi system key rais | growth | potenti lowincom countri public sector |
| countri | key rais growth potenti lowincom | countri | public sector also help creat |
| also | potenti lowincom countri public sector | also | help creat possibl faster growth |
| growth | also help creat possibl faster | growth | provid stabl predict macroeconom environ |
| also | ashok khosla warm introduct ashok | also | isidro fainà © host confer |
| need | head oecd time remind think | need | one mani interest thing much |
| growth | vision first formul book limit | growth | sinc updat sever time think |
| growth | yet find whether bind limit | growth | part optimist prospect longterm sustain |
| growth | part optimist prospect longterm sustain | growth | believ even resourc finit still |
| growth | live certain believ tension accompani | growth | current see sever area would |
| global | three area first tension financi | global | substanti increas flow capit across |
| market | tension evid current turmoil credit | market | talk briefli implic global economi |
| global | credit market talk briefli implic | global | economi lesson draw recent turbul |
| economi | market talk briefli implic global | economi | lesson draw recent turbul second |
| polici | turbul second tension area environment | polici | specif challeng danger climat chang |
| polici | come demograph chang specif effect | polici | challeng govern aris age popul |
| market | begin turbul current wit financi | market | speak great detail current transpir |
| global | bank spain releas detail report | global | financi stabil issu later today |
| market | crisi close resolv event financi | market | still unfold month extent bank |
| market | bank reliev liquid shortag credit | market | believ help limit wider econom |
| econom | market believ help limit wider | econom | impact recent turbul econom impact |
| econom | wider econom impact recent turbul | econom | impact recent develop remain uncertain |
| market | remain uncertain long situat financi | market | remain fluid basi current inform |
| global | basi current inform expect consequ | global | economi modest turbul unlik much |
| economi | current inform expect consequ global | economi | modest turbul unlik much effect |
| growth | modest turbul unlik much effect | growth | figur product invest consumpt decis |
| global | product invest consumpt decis affect | global | gdp alreadi taken turbul began |
| global | taken turbul began howev expect | global | growth still high histor standard |
| growth | turbul began howev expect global | growth | still high histor standard slight |
| also | high histor standard slight lower | also | believ risk project modest declin |
| growth | believ risk project modest declin | growth | most tilt downsid particular financi |
| market | most tilt downsid particular financi | market | turbul turn prolong impact global |
| global | market turbul turn prolong impact | global | economi could substanti fund present |
| economi | turbul turn prolong impact global | economi | could substanti fund present world |
| econom | could substanti fund present world | econom | outlook detail assess global econom |
| global | world econom outlook detail assess | global | econom prospect month ahead annual |
| econom | econom outlook detail assess global | econom | prospect month ahead annual meet |
| market | meet lesson drawn tension financi | market | see recent turbul reason give |
| global | reason give benefit financi innov | global | turbul demonstr risk vulner transmit |
| global | vulner transmit across border process | global | also transmit opportun across border |
| also | transmit across border process global | also | transmit opportun across border opportun |
| market | busi worker sell good mani | market | opportun saver put money good |
| polici | think recent develop hold lesson | polici | maker public regul financi market |
| market | polici maker public regul financi | market | particip need assess transpar improv |
| need | public regul financi market particip | need | assess transpar improv various market |
| market | need assess transpar improv various | market | make sure suffici incent market |
| market | market make sure suffici incent | market | disciplin function rate agenc need |
| need | market disciplin function rate agenc | need | improv practic especi deal complex |
| need | complex structur secur institut investor | need | recogn rate other absolv respons |
| also | risk individu investor share respons | also | need protect right help understand |
| need | individu investor share respons also | need | protect right help understand exercis |
| need | right help understand exercis suggest | need | enhanc transpar order protect consum |
| polici | lender borrow deepen financi educ | polici | maker also need consid implic |
| also | deepen financi educ polici maker | also | need consid implic spillov market |
| need | financi educ polici maker also | need | consid implic spillov market countri |
| market | also need consid implic spillov | market | countri hope one posit consequ |
| countri | need consid implic spillov market | countri | hope one posit consequ event |
| global | increas interest intern cooper monitor | global | financi market coordin regul fund |
| market | intern cooper monitor global financi | market | coordin regul fund togeth intern |
| economi | role catalyz formul plan major | economi | address global imbal expect issu |
| global | formul plan major economi address | global | imbal expect issu topic discuss |
| need | discuss annual meet next month | need | cooper also clear one area |
| also | meet next month need cooper | also | clear one area would like |
| also | chang damag chang catastroph yet | also | see encourag sign climat chang |
| global | meet economist climat chang clear | global | extern social consequ emit greenhous |
| global | consequ emit greenhous gase drive | global | warm born fulli emit share |
| countri | often among power individu compani | countri | world affect among least power |
| econom | speak seem difficult either generat | econom | incent action generat effect polit |
| need | generat effect polit consensus around | need | chang yet consensus emerg around |
| polici | danger climat chang becom prioriti | polici | maker channel effort overcom extern |
| econom | look answer place problem origin | econom | polici maker around world need |
| polici | answer place problem origin econom | polici | maker around world need reason |
| need | econom polici maker around world | need | reason assess econom cost benefit |
| econom | around world need reason assess | econom | cost benefit climat chang polici |
| polici | econom cost benefit climat chang | polici | adopt combat includ polici mitig |
| polici | chang polici adopt combat includ | polici | mitig climat chang prevent prevent |
| also | mitig climat chang prevent prevent | also | polici adapt climat chang respond |
| polici | climat chang prevent prevent also | polici | adapt climat chang respond cannot |
| econom | monetari fund role play world | econom | outlook present octob discuss estim |
| econom | octob discuss estim other made | econom | cost climat chang also consid |
| also | made econom cost climat chang | also | consid econom issu involv choic |
| econom | cost climat chang also consid | econom | issu involv choic method mitig |
| also | system intern trade emiss permit | also | discuss econom issu involv adapt |
| econom | trade emiss permit also discuss | econom | issu involv adapt climat chang |
| countri | issu involv adapt climat chang | countri | begin fund work say follow |
| econom | fund work say follow world | econom | outlook publish spring fund part |
| need | publish spring fund part work | need | done intern institut work aspect |
| need | problem cooper intern organ govern | need | solv problem reason polit believ |
| also | put pressur environ resourc societi | also | increas concern econom effect age |
| econom | resourc societi also increas concern | econom | effect age popul advanc economi |
| economi | econom effect age popul advanc | economi | major emerg economi mani countri |
| economi | popul advanc economi major emerg | economi | mani countri life expect increas |
| countri | economi major emerg economi mani | countri | life expect increas birth rate |
| also | healthier live exercis freedom children | also | unwelcom econom effect older popul |
| econom | exercis freedom children also unwelcom | econom | effect older popul like produc |
| also | one demand health care system | also | tend greater peopl older averag |
| econom | popul grow older anticip manag | econom | effect demograph chang govern need |
| need | econom effect demograph chang govern | need | make number chang govern make |
| market | reduct tariff legal barrier open | market | competit measur creat businessfriend environ |
| countri | includ financi sector integr govern | countri | age popul also help reduc |
| also | integr govern countri age popul | also | help reduc labor market shortag |
| market | popul also help reduc labor | market | shortag encourag immigr put place |
| polici | shortag encourag immigr put place | polici | integr immigr societi reform health |
| market | includ measur improv effici reduc | market | failur health care increas emphasi |
| countri | age someth alreadi happen mani | countri | govern accompani measur labor market |
| market | countri govern accompani measur labor | market | reform improv job opportun particular |
| econom | worker tension talk today show | econom | chang econom growth surpris us |
| econom | talk today show econom chang | econom | growth surpris us club rome |
| growth | today show econom chang econom | growth | surpris us club rome found |
| global | us club rome found financi | global | climat chang age popul seem |
| global | inquiri innov recognit complex interlinkag | global | economi necessari today aurelio peccei |
| economi | innov recognit complex interlinkag global | economi | necessari today aurelio peccei alexand |
| also | superb work organ confer would | also | like thank host govern peru |
| econom | us mani parliamentarian help consolid | econom | reform endur chang law institut |
| growth | america done extraordinarili well term | growth | improv macroeconom stabil region benefit |
| countri | price commod mani latin american | countri | export also benefit good econom |
| also | mani latin american countri export | also | benefit good econom manag govern |
| econom | countri export also benefit good | econom | manag govern central bank talk |
| market | offer region protect recent financi | market | turbul sound econom polici also |
| econom | recent financi market turbul sound | econom | polici also led highest growth |
| polici | financi market turbul sound econom | polici | also led highest growth lowest |
| also | market turbul sound econom polici | also | led highest growth lowest inflat |
| growth | econom polici also led highest | growth | lowest inflat near four decad |
| econom | four decad enorm import achiev | econom | growth fundament improv averag incom |
| growth | decad enorm import achiev econom | growth | fundament improv averag incom citizen |
| also | fundament improv averag incom citizen | also | prospect poorest citizen activ citizen |
| countri | prospect poorest citizen activ citizen | countri | hope standard live rise devot |
| growth | effect strong polit consensus high | growth | low inflat fundament compon equit |
| polici | inflat fundament compon equit develop | polici | maker need make sure gain |
| need | compon equit develop polici maker | need | make sure gain preserv also |
| also | need make sure gain preserv | also | power case tackl inequ poverti |
| polici | inequ poverti direct effect social | polici | matter social justic matter good |
| econom | cost poverti profound increas evid | econom | cost great urgenc address poverti |
| also | address poverti inequ latin america | also | increas see evid region global |
| global | also increas see evid region | global | make inequ within countri wors |
| countri | region global make inequ within | countri | wors higher skill premium associ |
| global | technolog advanc unequ distribut benefit | global | trade fortun much polici maker |
| polici | benefit global trade fortun much | polici | maker reduc inequ poverti also |
| also | polici maker reduc inequ poverti | also | support growth stabil agenda confer |
| growth | reduc inequ poverti also support | growth | stabil agenda confer center around |
| polici | stabil agenda confer center around | polici | area greatest contribut made fiscal |
| polici | area greatest contribut made fiscal | polici | financi sector reform institut reform |
| polici | move earth handl well fiscal | polici | lever support growth reduc inequ |
| growth | well fiscal polici lever support | growth | reduc inequ mani countri alreadi |
| countri | support growth reduc inequ mani | countri | alreadi take initi help exampl |
| countri | help exampl revenu side number | countri | recent introduc tax paid most |
| also | properti financi incom govern could | also | reduc exempt normal benefit high |
| polici | possibl set lower rate expenditur | polici | also use promot equiti increas |
| also | set lower rate expenditur polici | also | use promot equiti increas equal |
| polici | way would pursu direct social | polici | realloc spend toward program design |
| also | social assist qualiti expenditur sector | also | improv exampl know educ crucial |
| global | educ crucial equal opportun particular | global | world recent fund studi estim |
| also | poorer peopl pursuit equiti govern | also | neglect invest essenti growth capit |
| growth | govern also neglect invest essenti | growth | capit spend fallen proport total |
| countri | total govern spend latin american | countri | may explain part privat howev |
| polici | combin tax law public expenditur | polici | key sector suffici encourag invest |
| market | return public privat investor stabl | market | condit provid stabil contract welldefin |
| also | process howev public invest must | also | strengthen new fiscal paramet requir |
| also | law creat better environ lend | also | import broaden access credit financi |
| growth | enterpris often driver innov product | growth | need access financ grow step |
| need | often driver innov product growth | need | access financ grow step also |
| financ | innov product growth need access | financ | grow step also taken encourag |
| also | need access financ grow step | also | taken encourag microfin institut peru |
| growth | peru one leader field averag | growth | type credit percent annual recent |
| also | area help peopl lift poverti | also | help channel remitt toward product |
| polici | made consensus import sound macroeconom | polici | contribut strengthen central bank fiscal |
| also | financi supervis tougher stanc corrupt | also | need build consensus around strengthen |
| need | supervis tougher stanc corrupt also | need | build consensus around strengthen key |
| polici | employ invest poverti reduct around | polici | promot growth sector generat greatest |
| growth | poverti reduct around polici promot | growth | sector generat greatest improv incom |
| growth | address longstand problem instabl slow | growth | hope see next decad one |
| econom | american govern societi difficult time | econom | crisi instabl time fund support |
| global | effort integr latin america fulli | global | economi prerequisit achiev rapid sustain |
| economi | integr latin america fulli global | economi | prerequisit achiev rapid sustain growth |
| growth | economi prerequisit achiev rapid sustain | growth | well poverti reduct thank much |
| also | thank minist carranza generous introduct | also | presid garcÃa minist carranza govern |
| countri | peru host confer welcom us | countri | let also thank join us |
| also | confer welcom us countri let | also | thank join us tonight particip |
| also | thank give us time energi | also | thank staff fund eclac organ |
| also | possess devast earthquak august earthquak | also | hurrican damag live properti peopl |
| global | meet time great increas uncertainti | global | economi sinc begin august sharp |
| economi | time great increas uncertainti global | economi | sinc begin august sharp fluctuat |
| market | begin august sharp fluctuat cost | market | near paralysi other know recent |
| market | other know recent event financi | market | result loss confid still run |
| market | run cours even stabil return | market | soon adjust process effect crisi |
| econom | soon adjust process effect crisi | econom | indic like felt time financi |
| market | indic like felt time financi | market | real economi would like talk |
| economi | felt time financi market real | economi | would like talk tonight see |
| global | like talk tonight see affect | global | economi also like impact latin |
| economi | talk tonight see affect global | economi | also like impact latin american |
| also | tonight see affect global economi | also | like impact latin american countri |
| countri | also like impact latin american | countri | know financi market turbul effect |
| market | latin american countri know financi | market | turbul effect global growth especi |
| global | know financi market turbul effect | global | growth especi full effect appear |
| growth | financi market turbul effect global | growth | especi full effect appear econom |
| econom | growth especi full effect appear | econom | indic impact like largest unit |
| also | impact like largest unit state | also | see effect countri would come |
| countri | unit state also see effect | countri | would come part reduc avail |
| market | effect like downturn u hous | market | alreadi underway effect privat consumpt |
| also | alreadi underway effect privat consumpt | also | seem like difficulti credit market |
| market | also seem like difficulti credit | market | spillov effect beyond hous market |
| market | market spillov effect beyond hous | market | could affect consumpt invest broad |
| economi | invest broad addit know advanc | economi | affect part financi institut market |
| market | economi affect part financi institut | market | exposur problem u subprim mortgag |
| market | exposur problem u subprim mortgag | market | part lower demand unit state |
| market | react quick provid liquid credit | market | especi industri countri return normal |
| countri | liquid credit market especi industri | countri | return normal function believ agre |
| also | believ agre measur appropri time | also | begin see monetari polici industri |
| polici | time also begin see monetari | polici | industri countri chang reevalu differ |
| countri | begin see monetari polici industri | countri | chang reevalu differ central bank |
| market | bank consid effect crisi credit | market | growth connect yesterday action us |
| growth | consid effect crisi credit market | growth | connect yesterday action us feder |
| growth | tighten credit condit still expect | growth | global economi continu perform relat |
| global | credit condit still expect growth | global | economi continu perform relat well |
| economi | condit still expect growth global | economi | continu perform relat well econom |
| econom | economi continu perform relat well | econom | fundament larg industri economi major |
| economi | well econom fundament larg industri | economi | major emerg economi remain strong |
| economi | larg industri economi major emerg | economi | remain strong largest industri economi |
| economi | economi remain strong largest industri | economi | sourc growth global economi still |
| growth | strong largest industri economi sourc | growth | global economi still expect china |
| global | largest industri economi sourc growth | global | economi still expect china india |
| economi | industri economi sourc growth global | economi | still expect china india grow |
| global | digit rate factor add strength | global | demand present expect effect relat |
| countri | effect relat modest latin america | countri | region grow rate close seen |
| growth | close seen recent year figur | growth | much affect case effect would |
| growth | knock one half one percent | growth | countri region although earli assess |
| countri | one half one percent growth | countri | region although earli assess specif |
| economi | earli assess specif effect real | economi | allow explain past econom downturn |
| econom | real economi allow explain past | econom | downturn financi disrupt global economi |
| global | past econom downturn financi disrupt | global | economi affect region lower demand |
| economi | econom downturn financi disrupt global | economi | affect region lower demand import |
| also | demand import especi unit state | also | higher spread emerg market debt |
| market | state also higher spread emerg | market | debt expect see impact develop |
| market | region less past episod emerg | market | latin america stronger econom fundament |
| econom | emerg market latin america stronger | econom | fundament today previous financi market |
| market | econom fundament today previous financi | market | disrupt flexibl exchang rate regim |
| market | vulner compar previous episod financi | market | strain mani countri also stronger |
| countri | episod financi market strain mani | countri | also stronger budget posit latin |
| also | financi market strain mani countri | also | stronger budget posit latin america |
| also | budget posit latin america export | also | diversifiedth share region export go |
| global | percentag point sinc reason impact | global | financi market turbul latin america |
| market | sinc reason impact global financi | market | turbul latin america like less |
| financ | august like test time ahead | financ | ministri central bank regul may |
| countri | ministri central bank regul may | countri | afford run countercycl fiscal polici |
| polici | countri afford run countercycl fiscal | polici | becom necessari financ ministri need |
| financ | countercycl fiscal polici becom necessari | financ | ministri need keep care eye |
| need | polici becom necessari financ ministri | need | keep care eye debt ratio |
| market | govern spend central bank financi | market | regul need make sure good |
| need | central bank financi market regul | need | make sure good inform risk |
| countri | risk profil major financi institut | countri | current turbul lead polici maker |
| polici | institut countri current turbul lead | polici | maker rest world reject develop |
| global | maker rest world reject develop | global | risk dissemin instrument financi market |
| market | global risk dissemin instrument financi | market | benefit develop emerg economi inform |
| economi | financi market benefit develop emerg | economi | inform decis develop regul market |
| market | economi inform decis develop regul | market | first test taken place part |
| global | fund strengthen role contain risk | global | region multilater surveil technic assist |
| countri | multilater surveil technic assist member | countri | moreov next annual meet imf |
| also | discuss lesson consequ futur imf | also | prioriti agenda discuss new financi |
| global | financi instrument help prevent crise | global | world aim would reduc likelihood |
| polici | capit account crisi support strong | polici | make automat substanti access resourc |
| also | recent develop show us price | also | liquid condit financi market chang |
| market | price also liquid condit financi | market | chang quick spoken tonight most |
| market | most effect recent turbul financi | market | tomorrow turn anoth import issu |
| econom | tomorrow turn anoth import issu | econom | polici promot equiti societi rise |
| polici | turn anoth import issu econom | polici | promot equiti societi rise uncertainti |
| need | blind us import equiti equal | need | reduc poverti inde one concern |
| econom | often poor sever affect financi | econom | turmoil usual peopl affect hurrican |
| econom | give keynot speech tonight peru | econom | stabil increas one fastest grow |
| economi | stabil increas one fastest grow | economi | latin america polici presid garcia |
| polici | fastest grow economi latin america | polici | presid garcia govern pursu support |
| growth | presid garcia govern pursu support | growth | govern reform tax system reduc |
| market | peru financi sector domest capit | market | presid garcia govern also take |
| also | capit market presid garcia govern | also | take poverti serious take action |
| econom | organ provid import leadership promot | econom | progress integr hemispher happi opportun |
| growth | come uniqu moment follow best | growth | perform thirti year except vibrant |
| market | year except vibrant period financi | market | global economi today face financi |
| global | except vibrant period financi market | global | economi today face financi market |
| economi | vibrant period financi market global | economi | today face financi market turbul |
| market | global economi today face financi | market | turbul could undermin view favor |
| global | volatil initi lesson drawn second | global | econom prospect alter financi market |
| econom | initi lesson drawn second global | econom | prospect alter financi market turbul |
| market | global econom prospect alter financi | market | turbul implic latin america caribbean |
| global | trade financi open make resili | global | shock main messag straightforward first |
| global | main messag straightforward first strain | global | financi market play fulli moder |
| market | straightforward first strain global financi | market | play fulli moder global growth |
| global | financi market play fulli moder | global | growth expect come year cours |
| growth | market play fulli moder global | growth | expect come year cours yet |
| econom | case imf publish latest world | econom | outlook one month refin forecast |
| global | one month refin forecast howev | global | economi perform well reason anticip |
| economi | month refin forecast howev global | economi | perform well reason anticip global |
| global | economi perform well reason anticip | global | expans resili notabl improv fundament |
| market | improv fundament evid mani emerg | market | countri made better prepar weather |
| countri | fundament evid mani emerg market | countri | made better prepar weather extern |
| econom | notabl recent progress term improv | econom | fundament latin america caribbean relev |
| market | region make addit advanc financi | market | global outlooki begin remark latest |
| global | make addit advanc financi market | global | outlooki begin remark latest develop |
| global | outlooki begin remark latest develop | global | financi market mani way market |
| market | remark latest develop global financi | market | mani way market turbul evid |
| market | global financi market mani way | market | turbul evid past three month |
| market | test strain innov financi instrument | market | institut gain import past year |
| market | credit qualiti price new form | market | secur innov help promot expans |
| financ | help promot expans privat sector | financ | degre period analog creation instrument |
| market | interest rate deriv translat chang | market | risk secur price instrument view |
| econom | heighten uncertainti regard strength under | econom | fundament howev strain also reflect |
| also | under econom fundament howev strain | also | reflect previous underrecogn weak certain |
| market | previous underrecogn weak certain financi | market | structur market practic m sure |
| market | weak certain financi market structur | market | practic m sure know well |
| market | appear us variabler subprim mortgag | market | rapid increas issuanc associ especi |
| market | standard deterior eventu reflect weaken | market | condit collater debt oblig known |
| market | qualiti under subprim mortgag recogn | market | cdos like mani creditlink secur |
| econom | secur reflect deep investor optim | econom | market outlook observ remark price |
| market | reflect deep investor optim econom | market | outlook observ remark price perfect |
| need | outlook observ remark price perfect | need | spell detail current spread concentr |
| market | current spread concentr circl concern | market | condit least regard specif sector |
| market | regard specif sector potenti impact | market | develop strength global growth worth |
| global | potenti impact market develop strength | global | growth worth note mani recent |
| growth | impact market develop strength global | growth | worth note mani recent market |
| market | growth worth note mani recent | market | disturb come surpris even experienc |
| market | disturb come surpris even experienc | market | particip public author exampl money |
| market | particip public author exampl money | market | typic tranquil nonetheless specif segment |
| financ | commerci paper use mani case | financ | stock subprim mortgag essenti becom |
| market | shortterm interbank lend becom impair | market | virtual none anticip clear even |
| market | lesson drawn new one period | market | disciplin typic uncertain regard time |
| market | uneven impact messi applic nonetheless | market | disciplin tend effect need make |
| need | nonetheless market disciplin tend effect | need | make sure case time central |
| market | case time central bank financi | market | regul take action order maintain |
| market | regul take action order maintain | market | liquid essenti secur market need |
| market | maintain market liquid essenti secur | market | need provid continu price order |
| need | market liquid essenti secur market | need | provid continu price order function |
| need | clear willing take addit action | need | howev keep market liquid combat |
| market | addit action need howev keep | market | liquid combat excess volatil differ |
| market | combat excess volatil differ defend | market | level protect specif institut investor |
| market | investor faulti judgment eventu period | market | disrupt dissip time draw need |
| need | market disrupt dissip time draw | need | lesson market structur practic rememb |
| market | dissip time draw need lesson | market | structur practic rememb advantag securit |
| market | structur practic rememb advantag securit | market | intend provid continu price avoid |
| market | illiquid moreov crucial recogn securit | market | inher place primari burden risk |
| need | burden risk assess endinvestor intermediari | need | make sure market particip adequ |
| market | endinvestor intermediari need make sure | market | particip adequ prepar transpar suffici |
| market | particip adequ prepar transpar suffici | market | oper effect fortun note alreadi |
| global | oper effect fortun note alreadi | global | economi enter period financi turbul |
| economi | effect fortun note alreadi global | economi | enter period financi turbul relat |
| global | good shape first half year | global | growth annual rate moreov emerg |
| growth | shape first half year global | growth | annual rate moreov emerg market |
| market | growth annual rate moreov emerg | market | countri account half growth unusu |
| countri | annual rate moreov emerg market | countri | account half growth unusu strength |
| growth | emerg market countri account half | growth | unusu strength economi help sustain |
| economi | account half growth unusu strength | economi | help sustain global expans despit |
| global | unusu strength economi help sustain | global | expans despit current challeng thus |
| growth | despit current challeng thus moder | growth | come year would still impli |
| economi | briefli latin america caribbean region | economi | grow vigor pace sinc last |
| growth | vigor pace sinc last year | growth | acceler growth relat well distribut |
| growth | sinc last year growth acceler | growth | relat well distribut region expect |
| econom | develop elsewher updat upcom world | econom | outlook forecast region strong recent |
| polici | much accomplish invest product fiscal | polici | financi market develop region recent |
| market | invest product fiscal polici financi | market | develop region recent growth strong |
| growth | financi market develop region recent | growth | strong relat histori still lag |
| growth | lag develop region moreov faster | growth | necessari condit order make meaning |
| growth | combin increas invest faster product | growth | addit progress possibl region product |
| growth | addit progress possibl region product | growth | percentag point per year slower |
| also | emerg asia period invest ratio | also | substanti lower develop countri averag |
| countri | ratio also substanti lower develop | countri | averag fact percentag point gdp |
| economi | must improv nonetheless noteworthi top | economi | rank overal eas busi world |
| countri | world bank busi survey two | countri | mexico chile latin america sure |
| growth | depart look predictor sustain incom | growth | defin per capita gdp growth |
| growth | growth defin per capita gdp | growth | least percent per annum maintain |
| growth | featur common case rapid sustain | growth | complementari work complet recent commiss |
| growth | complementari work complet recent commiss | growth | develop commiss studi show without |
| growth | show without except case sustain | growth | driven increas gdp share merchandis |
| need | increas diversifi trade know provid | need | leadership region fiscal polici improv |
| polici | provid need leadership region fiscal | polici | improv notabl recent includ increas |
| need | gdp region primari fiscal surplus | need | done reduc depend public revenu |
| also | revenu commod howev current spend | also | seem take preced public invest |
| need | compar stood thus new effort | need | make sure fiscal polici make |
| polici | effort need make sure fiscal | polici | make room invest spend necessari |
| growth | room invest spend necessari boost | growth | reduc poverti final notwithstand current |
| market | poverti final notwithstand current financi | market | difficulti would like stress import |
| growth | difficulti would like stress import | growth | strengthen local financi market develop |
| market | import growth strengthen local financi | market | develop local market essenti mobil |
| market | local financi market develop local | market | essenti mobil save product invest |
| financ | invest provid govern stabl sourc | financ | provid need credit consum busi |
| need | govern stabl sourc financ provid | need | credit consum busi thus spur |
| growth | busi thus spur higher rate | growth | recent studi carri research depart |
| countri | studi carri research depart show | countri | stronger financi sector better place |
| market | capit flow cope better period | market | volatil area much remain accomplish |
| market | essenti build block strengthen financi | market | includ develop wellspecifi legal regulatori |
| market | time inform main point recent | market | turmoil outsid region imped progress |
| market | progress develop deeper sophist financi | market | potenti improv econom perform strengthen |
| econom | sophist financi market potenti improv | econom | perform strengthen market signific let |
| market | potenti improv econom perform strengthen | market | signific let conclud summar main |
| market | point still ongo turbul financi | market | repres signific test one undermin |
| global | repres signific test one undermin | global | economi posit momentum nonetheless chang |
| economi | signific test one undermin global | economi | posit momentum nonetheless chang extern |
| need | nonetheless chang extern condit underscor | need | region remain focus make fundament |
| growth | make fundament improv generat faster | growth | necessari meaning poverti reduct enhanc |
| financ | import discuss emin repres academia | financ | busi kenneth rogoff jim o |
| global | perspect intern monetari fund implic | global | economi recent financi market turbul |
| economi | intern monetari fund implic global | economi | recent financi market turbul creditrel |
| market | implic global economi recent financi | market | turbul creditrel crisi public discuss |
| market | turbul domin concern effect financi | market | investor believ also import consid |
| also | effect financi market investor believ | also | import consid econom effect could |
| econom | investor believ also import consid | econom | effect could signific could affect |
| global | financi center london new york | global | issu prefac remark state know |
| market | base alreadi happen judgment financi | market | turbul modest advers effect global |
| global | market turbul modest advers effect | global | econom growth year would still |
| econom | turbul modest advers effect global | econom | growth year would still leav |
| growth | modest advers effect global econom | growth | year would still leav global |
| global | growth year would still leav | global | growth rate similar seen recent |
| growth | year would still leav global | growth | rate similar seen recent year |
| market | year assess predic assumpt financi | market | condit stabil come month come |
| market | outlook would worsen prospect depend | market | develop evolv let lay effect |
| also | let lay effect risk see | also | explain present think risk fundament |
| global | present think risk fundament chang | global | econom outlook conclud suggest polici |
| econom | think risk fundament chang global | econom | outlook conclud suggest polici maker |
| polici | global econom outlook conclud suggest | polici | maker moment liquid reappear risk |
| market | soon adjust process implic financi | market | turbul like protract uniform distribut |
| market | distribut speedi recoveri trust among | market | particip certain need tighten financi |
| need | trust among market particip certain | need | tighten financi condit involv repric |
| also | financi condit involv repric credit | also | curtail credit certain borrow certain |
| market | curtail credit certain borrow certain | market | see two main set problem |
| economi | set problem could flow real | economi | first restrict lend continu broaden |
| financ | continu broaden like affect household | financ | corpor sector matur market potenti |
| market | household financ corpor sector matur | market | potenti emerg market countri increas |
| market | sector matur market potenti emerg | market | countri increas credit spread lower |
| countri | matur market potenti emerg market | countri | increas credit spread lower capit |
| financ | peak import sourc fund consum | financ | contract demand caus cost shortterm |
| financ | contract demand caus cost shortterm | financ | rise avail fall effect also |
| also | financ rise avail fall effect | also | felt broader u mortgag market |
| market | also felt broader u mortgag | market | beyond subprim mortgag financ cost |
| financ | mortgag market beyond subprim mortgag | financ | cost nonconform u mortgag includ |
| need | constraint extend credit bank nonbank | need | focus liquid manag assess manag |
| also | scope potenti financi loss may | also | need absorb sizeabl amount commit |
| need | potenti financi loss may also | need | absorb sizeabl amount commit leverag |
| need | bond possibl reduc valu may | need | meet conting liquid commit fund |
| economi | develop would turn consequ real | economi | expect downward revis baselin growth |
| growth | economi expect downward revis baselin | growth | project especi next year downward |
| also | like largest unit state may | also | see impact euro area implic |
| polici | impact euro area implic monetari | polici | advanc economi central bank taken |
| economi | area implic monetari polici advanc | economi | central bank taken account impact |
| market | central bank taken account impact | market | turmoil econom activ set monetari |
| econom | taken account impact market turmoil | econom | activ set monetari polici stanc |
| polici | turmoil econom activ set monetari | polici | stanc continu take action ensur |
| market | continu take action ensur order | market | function growth prospect emerg market |
| growth | action ensur order market function | growth | prospect emerg market may affect |
| market | market function growth prospect emerg | market | may affect trade financi market |
| market | market may affect trade financi | market | spillov general remain good emerg |
| market | spillov general remain good emerg | market | much stronger econom fundament credibl |
| econom | good emerg market much stronger | econom | fundament credibl monetari institut today |
| market | monetari institut today previous financi | market | disrupt flexibl exchang rate regim |
| market | vulner compar previous episod financi | market | strain mani emerg market also |
| market | financi market strain mani emerg | market | also built substanti cushion reserv |
| also | market strain mani emerg market | also | built substanti cushion reserv pocket |
| countri | reserv pocket vulner particular affect | countri | reli heavili shortterm foreign currenc |
| financ | heavili shortterm foreign currenc extern | financ | feed domest credit boom imf |
| need | instrument provid time support member | need | previous downsid risk also increas |
| also | member need previous downsid risk | also | increas reduc avail increas cost |
| market | current project downturn u hous | market | could advers affect consum demand |
| growth | advers affect consum demand reduc | growth | demand import u turn could |
| growth | import u turn could reduc | growth | countri export unit state difficulti |
| countri | u turn could reduc growth | countri | export unit state difficulti credit |
| market | export unit state difficulti credit | market | becom wors would direct effect |
| global | despit risk discuss still expect | global | economi continu perform relat well |
| economi | risk discuss still expect global | economi | continu perform relat well econom |
| econom | economi continu perform relat well | econom | fundament larg industri economi major |
| economi | well econom fundament larg industri | economi | major emerg economi remain strong |
| economi | larg industri economi major emerg | economi | remain strong even unit state |
| market | unit state direct affect financi | market | turmoil corpor remain high profit |
| financ | corpor remain high profit household | financ | continu sustain solid employ growth |
| growth | financ continu sustain solid employ | growth | thus u economi continu grow |
| economi | solid employ growth thus u | economi | continu grow albeit lower pace |
| economi | lower pace year next u | economi | power engin global expans economi |
| global | next u economi power engin | global | expans economi almost equal import |
| economi | economi power engin global expans | economi | almost equal import despit slow |
| growth | almost equal import despit slow | growth | euro area japan expect continu |
| market | japan expect continu major emerg | market | like china india grow close |
| countri | doubl digit rate togeth two | countri | expect contribut onefifth total global |
| global | countri expect contribut onefifth total | global | growth reapprais risk financi market |
| growth | expect contribut onefifth total global | growth | reapprais risk financi market may |
| market | global growth reapprais risk financi | market | may also prevent even larger |
| also | reapprais risk financi market may | also | prevent even larger problem emerg |
| also | taken serious good financi stabil | also | go test new market instrument |
| market | stabil also go test new | market | instrument less flexibl condit prevail |
| market | far system import financi institut | market | come test well central bank |
| market | swift adept support spillov noncredit | market | includ currenc equiti also manag |
| also | noncredit market includ currenc equiti | also | manag far said practic chang |
| polici | chang lesson learn recent turbul | polici | maker advanc economi address inform |
| economi | recent turbul polici maker advanc | economi | address inform asymmetri caus credit |
| market | address inform asymmetri caus credit | market | seiz prioriti uncertainti regard hold |
| also | might emerg opaqu structur may | also | mask offbal sheet exposur conting |
| market | liabil area address problem regul | market | particip need assess transpar improv |
| need | address problem regul market particip | need | assess transpar improv various market |
| market | need assess transpar improv various | market | especi relat new illiquid instrument |
| also | reduc uncertainti avoid surpris question | also | rais investor lack due dilig |
| need | agenc treatment complex product issu | need | address consum protect need enhanc |
| need | issu need address consum protect | need | enhanc financi educ need deepen |
| need | protect need enhanc financi educ | need | deepen polici maker emerg market |
| polici | enhanc financi educ need deepen | polici | maker emerg market reli portfolio |
| market | need deepen polici maker emerg | market | reli portfolio capit inflow financ |
| financ | market reli portfolio capit inflow | financ | current account deficit surg domest |
| need | account deficit surg domest credit | need | consid respond capit inflow dri |
| need | reserv request assist fund made | need | support fund stand readi first |
| countri | stand readi first line defens | countri | concern posit good polici includ |
| polici | defens countri concern posit good | polici | includ good inform risk profil |
| market | institut particip take grant liquid | market | recent financi market turbul present |
| market | grant liquid market recent financi | market | turbul present polici maker new |
| polici | recent financi market turbul present | polici | maker new problem think old |
| polici | suffici flexibl run countercycl fiscal | polici | may need point continu address |
| need | run countercycl fiscal polici may | need | point continu address longterm longstand |
| global | problem stem age popul problem | global | imbal also gone away inde |
| also | age popul problem global imbal | also | gone away inde expect recent |
| market | gone away inde expect recent | market | turmoil precipit disord adjust may |
| financ | u extern deficit may easili | financ | privat capit inflow final recent |
| also | capit inflow final recent develop | also | underlin potenti spillov market countri |
| market | develop also underlin potenti spillov | market | countri mani challeng polici maker |
| countri | also underlin potenti spillov market | countri | mani challeng polici maker face |
| polici | spillov market countri mani challeng | polici | maker face would benefit intern |
| need | benefit intern cooper cooper obvious | need | monitor regul financi market intern |
| market | obvious need monitor regul financi | market | intern monetari fund togeth intern |
| economi | role catalyz formul plan major | economi | address global imbal dialogu formal |
| global | formul plan major economi address | global | imbal dialogu formal set confer |
| also | dialogu formal set confer one | also | help us shape intern respons |
| economi | like talk even import emerg | economi | develop strong broad deep financi |
| market | develop strong broad deep financi | market | first sight may seem like |
| market | strang time emphas import financi | market | develop across world heighten concern |
| market | heighten concern recent turbul credit | market | inde fund warn risk recent |
| market | seen problem u subprim mortgag | market | reverber across global capit market |
| global | subprim mortgag market reverber across | global | capit market requir except liquid |
| market | market reverber across global capit | market | requir except liquid inject central |
| financ | repres first real test structur | financ | relat credit deriv market complex |
| market | structur financ relat credit deriv | market | complex instrument trade market said |
| market | deriv market complex instrument trade | market | said outset market grown rapid |
| market | instrument trade market said outset | market | grown rapid recent year brought |
| market | year brought mani benefit enabl | market | particip better diversifi risk cost |
| global | access credit provid import boost | global | growth howev particip underestim risk |
| growth | credit provid import boost global | growth | howev particip underestim risk relat |
| market | risk signific impact liquid interbank | market | fortun number central bank throughout |
| market | inject liquid aim restor order | market | condit nevertheless look forward remain |
| market | implic ongo liquid squeez financi | market | outlook real economi broad perspect |
| economi | squeez financi market outlook real | economi | broad perspect intern monetari fund |
| global | implic first present still expect | global | economi continu perform well even |
| economi | first present still expect global | economi | continu perform well even face |
| market | well even face recent financi | market | turbul second although recent develop |
| growth | import essenti contribut sustain rapid | growth | advanc emerg market economi third |
| market | sustain rapid growth advanc emerg | market | economi third financi market still |
| economi | rapid growth advanc emerg market | economi | third financi market still surest |
| market | emerg market economi third financi | market | still surest rout growth stabil |
| growth | financi market still surest rout | growth | stabil transpar wellregul adequ provis |
| global | protect let take theme turn | global | fundament market econom fundament larg |
| market | take theme turn global fundament | market | econom fundament larg industri economi |
| econom | theme turn global fundament market | econom | fundament larg industri economi major |
| economi | market econom fundament larg industri | economi | major emerg economi includ brazil |
| economi | larg industri economi major emerg | economi | includ brazil remain strong latest |
| global | strong latest project anticip sustain | global | growth percent major emerg market |
| growth | latest project anticip sustain global | growth | percent major emerg market lead |
| market | global growth percent major emerg | market | lead way howev balanc risk |
| market | reflect impact recent turbul financi | market | risk bear close watch princip |
| market | close watch princip risk financi | market | develop affect real economi declin |
| economi | financi market develop affect real | economi | declin asset price tighten financi |
| financ | corpor remain high profit household | financ | continu sustain solid employ growth |
| growth | financ continu sustain solid employ | growth | thus u economi continu grow |
| economi | solid employ growth thus u | economi | continu grow moder pace year |
| global | moder pace year note furthermor | global | expans power us consumpt alon |
| growth | alon despit slow second quarter | growth | euro area japan expect continu |
| market | Â ½ percent major emerg | market | like china india grow close |
| global | digit rate therebi increas contribut | global | growth inde china one main |
| growth | rate therebi increas contribut global | growth | inde china one main engin |
| growth | china one main engin world | growth | year sever major emerg market |
| market | growth year sever major emerg | market | strong econom fundament includ current |
| econom | sever major emerg market strong | econom | fundament includ current account surplus |
| market | vulner compar previous episod financi | market | strain clear evid present see |
| market | evid present see far financi | market | reapprais risk natur respons particular |
| market | extend period rather exuber credit | market | reapprais long run good financi |
| market | run good financi stabil mean | market | adjust present mediumterm risk troubl |
| market | risk troubl u nonprim mortgag | market | may distress holder mortgag creditor |
| market | mortgag reset remaind year next | market | outsid unit state problem relat |
| market | problem relat exposur u credit | market | recent surfac liquid support provid |
| market | unwarr temporari loss confid money | market | relat uncertainti extent distribut creditrel |
| econom | impact episod financi turbul real | econom | growth moder global growth would |
| growth | episod financi turbul real econom | growth | moder global growth would littl |
| global | turbul real econom growth moder | global | growth would littl effect fundament |
| growth | real econom growth moder global | growth | would littl effect fundament world |
| economi | would littl effect fundament world | economi | financi market develop growth event |
| market | effect fundament world economi financi | market | develop growth event recent week |
| growth | world economi financi market develop | growth | event recent week undermin case |
| market | recent week undermin case financi | market | develop integr concern credit qualiti |
| market | price correct number creditrel asset | market | actual see test new market |
| market | market actual see test new | market | instrument less flexibl condit prevail |
| market | last year howev spillov noncredit | market | includ currenc equiti far manag |
| market | manag help solid fundament develop | market | also emerg economi histori guid |
| also | help solid fundament develop market | also | emerg economi histori guid even |
| economi | fundament develop market also emerg | economi | histori guid even shock one |
| market | even shock one region spill | market | effect typic shortliv sometim even |
| market | risk inde advantag sound financi | market | well known market play critic |
| market | sound financi market well known | market | play critic role mobil save |
| market | product invest moreov strong local | market | also provid stabl sourc financ |
| also | invest moreov strong local market | also | provid stabl sourc financ public |
| financ | market also provid stabl sourc | financ | public privat sector insul extent |
| global | privat sector insul extent volatil | global | capit flow recent seen practic |
| market | demonstr posit effect sound financi | market | sever industri countri unit state |
| countri | sound financi market sever industri | countri | unit state unit kingdom financi |
| market | unit state unit kingdom financi | market | past decad substanti improv econom |
| econom | market past decad substanti improv | econom | perform develop wide array product |
| growth | rapid financi develop help boost | growth | countri exampl sinc mid product |
| countri | financi develop help boost growth | countri | exampl sinc mid product grown |
| countri | product financi sector similar sever | countri | latin america made good progress |
| market | made good progress develop financi | market | pension mutual fund chile help |
| market | help lengthen matur deepen financi | market | similar brazil chile develop foreign |
| market | chile develop foreign exchang deriv | market | among sophist transpar world develop |
| econom | world develop help enhanc stabil | econom | growth inde coincid countri latin |
| growth | develop help enhanc stabil econom | growth | inde coincid countri latin america |
| countri | stabil econom growth inde coincid | countri | latin america elsewher financi market |
| market | countri latin america elsewher financi | market | develop advanc also among success |
| also | elsewher financi market develop advanc | also | among success economi causal run |
| economi | develop advanc also among success | economi | causal run way macroeconom polici |
| polici | economi causal run way macroeconom | polici | becom credibl confid grow inflat |
| market | demand financi servic increas financi | market | grow avail credit increas spur |
| growth | credit increas spur faster noninflationari | growth | financi market becom sophist risk |
| market | spur faster noninflationari growth financi | market | becom sophist risk manag hedg |
| economi | risk manag hedg becom easier | economi | becom better abl manag volatil |
| countri | mention fund recent complet studi | countri | need maxim gain financi global |
| need | fund recent complet studi countri | need | maxim gain financi global find |
| global | countri need maxim gain financi | global | find countri develop financi sector |
| countri | maxim gain financi global find | countri | develop financi sector stronger institut |
| polici | sector stronger institut sound macroeconom | polici | open trade system better place |
| global | system better place benefit financi | global | consider less like suffer instabl |
| global | like suffer instabl greater open | global | capit flow could entail build |
| market | could entail build stronger financi | market | emerg market countri promot strong |
| market | build stronger financi market emerg | market | countri promot strong financi sector |
| countri | stronger financi market emerg market | countri | promot strong financi sector answer |
| need | sector answer familiar one govern | need | put place clear consist appli |
| market | legal regulatori impedi smooth function | market | difficult challeng experi advanc economi |
| economi | market difficult challeng experi advanc | economi | emerg economi suggest path follow |
| economi | challeng experi advanc economi emerg | economi | suggest path follow mistak avoid |
| economi | great success recent year advanc | economi | develop thrive market mortgag consum |
| market | year advanc economi develop thrive | market | mortgag consum credit see downsid |
| financ | opportun would otherwis exist peopl | financ | hous buy car build busi |
| econom | car build busi ever increas | econom | opportun also make possibl individu |
| also | busi ever increas econom opportun | also | make possibl individu spread consumpt |
| countri | institut compar threequart popul industri | countri | similar end household credit latin |
| market | emerg asia percent gdp develop | market | clear fundament condit develop credit |
| market | clear fundament condit develop credit | market | includ household credit macroeconom stabil |
| market | macroeconom stabil learn time credit | market | take uncertainti inflat interest rate |
| also | rate reduc reason level howev | also | step also taken micro institut |
| also | reason level howev also step | also | taken micro institut level promot |
| market | level promot household credit mortgag | market | welcom sign progress region household |
| countri | progress region household credit sever | countri | includ brazil increas rapid due |
| also | bank partner retail pointofsal locat | also | provid success model expand access |
| need | widen financi servic net meet | need | tradit underserv popul progress made |
| polici | negat amort mortgag import avoid | polici | limit abil financi intermediari effect |
| market | new instrument new potenti problem | market | evolv competit institut import latin |
| market | share client inform reduc bank | market | power custom enhanc transpar benefit |
| countri | move direct intern experi includ | countri | spain illustr dividend type measur |
| also | yield improv legal environ would | also | clear contribut progress exampl countri |
| countri | also clear contribut progress exampl | countri | adopt enabl reform regulatori legal |
| also | respons vital regul nation author | also | use supplement implement code conduct |
| countri | local bank financi organ especi | countri | weak public law public enforc |
| market | particular import regul new instrument | market | emerg economi also benefit better |
| economi | regul new instrument market emerg | economi | also benefit better truthinlend rule |
| also | new instrument market emerg economi | also | benefit better truthinlend rule greater |
| countri | govern pursu financi educ exampl | countri | spain also use internet success |
| also | financi educ exampl countri spain | also | use internet success promot financi |
| market | area develop corpor bond equiti | market | number step govern regul take |
| market | demand suppli bond develop wellfunct | market | public debt help establish benchmark |
| market | benchmark yield suppli infrastructur use | market | govern also eas constraint pension |
| also | suppli infrastructur use market govern | also | eas constraint pension fund potenti |
| countri | invest decis privatelymanag pension fund | countri | region also seek relax limit |
| also | privatelymanag pension fund countri region | also | seek relax limit pension fund |
| market | clarifi improv creditor right deriv | market | make import contribut risk manag |
| countri | risk manag risk diversif mani | countri | latin america deriv market other |
| market | mani countri latin america deriv | market | other littl depth often crowd |
| market | deriv exampl brazil largest deriv | market | latin america part success may |
| market | brazil uniqu among emerg matur | market | economi report requir overthecount deriv |
| economi | uniqu among emerg matur market | economi | report requir overthecount deriv market |
| market | economi report requir overthecount deriv | market | consequ broader inform avail supervisor |
| market | consequ broader inform avail supervisor | market | brazilian experi show good data |
| market | neither imposs prohibit expens deriv | market | let sum central messag simpl |
| market | central messag simpl one financi | market | becom ever import econom develop |
| econom | financi market becom ever import | econom | develop qualiti critic determin countri |
| countri | econom develop qualiti critic determin | countri | econom stabil success world financi |
| econom | develop qualiti critic determin countri | econom | stabil success world financi global |
| global | econom stabil success world financi | global | govern central bank regul privat |
| market | promot strong resili innov financi | market | confer one offer great opportun |
| global | uncertain happi chanc exchang view | global | economi last decad repres period |
| economi | happi chanc exchang view global | economi | last decad repres period impress |
| market | even threaten time latest financi | market | volatil usher moment anxieti concern |
| global | moment anxieti concern least appar | global | market repric credit risk era |
| market | anxieti concern least appar global | market | repric credit risk era financi |
| global | repric credit risk era financi | global | market becom increas integr thus |
| market | credit risk era financi global | market | becom increas integr thus latest |
| market | increas integr thus latest bout | market | volatil experienc global least degre |
| global | latest bout market volatil experienc | global | least degre distant event sharp |
| global | symbiot relationship evolv recent year | global | econom growth financi innov financi |
| econom | relationship evolv recent year global | econom | growth financi innov financi global |
| growth | evolv recent year global econom | growth | financi innov financi global increas |
| global | econom growth financi innov financi | global | increas financi integr natur counterparti |
| global | decad key driver sustain rapid | global | growth except benign period virtual |
| growth | key driver sustain rapid global | growth | except benign period virtual univers |
| econom | benign period virtual univers advanc | econom | perform help carri mani financi |
| market | perform help carri mani financi | market | unchart territori investor sudden becom |
| market | sudden becom cautious thus financi | market | particip appear reassess assumpt global |
| global | market particip appear reassess assumpt | global | econom outlook tri find solid |
| econom | particip appear reassess assumpt global | econom | outlook tri find solid ground |
| market | price credit risk search new | market | rang may take time like |
| market | addit volatil howev degre recent | market | turbul exagger fundament underpin current |
| global | turbul exagger fundament underpin current | global | expans appear reason solid current |
| market | expans appear reason solid current | market | strain like help set stage |
| global | help set stage new leg | global | expans howev risk less favor |
| market | cannot ignor taken grant financi | market | particip respond latest develop policymak |
| need | particip respond latest develop policymak | need | take stock whether new action |
| need | take stock whether new action | need | reduc financi market risk balanc |
| market | new action need reduc financi | market | risk balanc remark today flesh |
| market | today flesh point focus financi | market | develop look forward chanc discuss |
| global | topic follow present slide favor | global | backdropwhat make recent turmoil global |
| global | global backdropwhat make recent turmoil | global | financi market particular noteworthi come |
| market | make recent turmoil global financi | market | particular noteworthi come time global |
| global | market particular noteworthi come time | global | macroeconom perform appear favor global |
| global | global macroeconom perform appear favor | global | economi perform strong last year |
| economi | macroeconom perform appear favor global | economi | perform strong last year macroeconom |
| global | point toward continu trend slide | global | expans strongth global economi continu |
| global | trend slide global expans strongth | global | economi continu grow strong inflat |
| economi | slide global expans strongth global | economi | continu grow strong inflat appear |
| global | commod price thus imf baselin | global | forecast growth regist annual rate |
| growth | thus imf baselin global forecast | growth | regist annual rate moreov virtual |
| growth | annual rate moreov virtual univers | growth | envisag continu domest demand growth |
| growth | growth envisag continu domest demand | growth | japan euro area economi strengthen |
| economi | demand growth japan euro area | economi | strengthen recent quarter hope ad |
| global | contribut china india russia brazil | global | growth also strong whether measur |
| growth | china india russia brazil global | growth | also strong whether measur market |
| also | india russia brazil global growth | also | strong whether measur market exchang |
| market | growth also strong whether measur | market | exchang rate purchas power pariti |
| global | weight fact china contribut year | global | gdp dollar measur market exchang |
| market | year global gdp dollar measur | market | exchang rate quit like exceed |
| global | quit like exceed unit state | global | forecast year next anticip half |
| global | forecast year next anticip half | global | growth account emerg market economi |
| growth | year next anticip half global | growth | account emerg market economi howev |
| market | half global growth account emerg | market | economi howev diminish import us |
| economi | global growth account emerg market | economi | howev diminish import us economi |
| economi | economi howev diminish import us | economi | world outlook sharp us growth |
| growth | economi world outlook sharp us | growth | slowdown would like test growth |
| growth | growth slowdown would like test | growth | outcom elsewher slide global risk |
| global | test growth outcom elsewher slide | global | risk factor tilt downsidedespit favor |
| also | capac constraint rise energi price | also | includ risk could aris heighten |
| market | risk could aris heighten financi | market | instabl troubl sign rise protection |
| global | protection stillpres possibl disord unwind | global | payment imbal time stronger expect |
| growth | payment imbal time stronger expect | growth | emerg market stronger expect recoveri |
| market | time stronger expect growth emerg | market | stronger expect recoveri euro area |
| global | hallmarksth current period financi innov | global | character three hallmark first securit |
| market | sector instrument tradabl public privat | market | second develop new risk transfer |
| market | risk transfer instrument allow financi | market | particip break risk embed tradit |
| market | ago develop interest rate swap | market | past year pace financi innov |
| market | acceler encompass establish increas liquid | market | credit default swap cds new |
| market | debt great aid matur cds | market | permit investor take posit regard |
| market | qualiti without enter under cash | market | factor facilit corpor financ presum |
| financ | cash market factor facilit corpor | financ | presum boost sector resili effici |
| global | third hallmark period financi innov | global | effect develop financi engin asset |
| global | exampl hedg fund present account | global | asset manag howev account far |
| market | account far larger share turnov | market | typic follow activ manag strategi |
| market | margin price setter fact newer | market | credit default swap structur credit |
| growth | tripl share earli cours dramat | growth | reflect financi innov alon favor |
| market | domest invest rate domest financi | market | relat rudimentari result tide financi |
| polici | unhamp past two year monetari | polici | tighten advanc economi slide effect |
| economi | year monetari polici tighten advanc | economi | slide effect reduc home biasit |
| global | home biasit come surpris surg | global | capit flow accompani reduct socal |
| economi | averag share intern equiti develop | economi | pension fund portfolio grew anywher |
| global | credit riskexamin symbiot interplay post | global | growth surg financi innov global |
| growth | riskexamin symbiot interplay post global | growth | surg financi innov global laid |
| global | global growth surg financi innov | global | laid groundwork take closer look |
| market | take closer look latest financi | market | develop challeng pose relationship slide |
| market | pose relationship slide us subprim | market | credit qualiti deteriorationth epicent recent |
| market | deteriorationth epicent recent increas financi | market | volatil us subprim mortgag market |
| market | market volatil us subprim mortgag | market | cours relat new market facilit |
| market | mortgag market cours relat new | market | facilit use new financi risk |
| growth | mortgag belong vintag subsequ rapid | growth | overal market size accompani notabl |
| market | vintag subsequ rapid growth overal | market | size accompani notabl deterior delinqu |
| market | natur ask went wrong characterist | market | disciplin impos new rapid grow |
| market | new rapid grow sector classic | market | disciplin uncertain term time uneven |
| market | relat small proport overal mortgag | market | impact broader economi like limit |
| economi | overal mortgag market impact broader | economi | like limit nonetheless problem sector |
| market | extend longer span anticip origin | market | particip slide disciplin weaken corpor |
| market | tighten credit term us secur | market | encompass debt issuanc associ leverag |
| also | weaken credit disciplin corpor sector | also | indic mark dilut coven place |
| also | year less billion year trend | also | revers least overal impress creat |
| market | overal impress creat develop financi | market | particip becom over optimist market |
| market | market particip becom over optimist | market | disciplin catch inevit one like |
| market | slowdown leverag buy activ subprim | market | like dampen hous activ time |
| growth | hous activ time slide cdosth | growth | market collater debt oblig cdos |
| market | activ time slide cdosth growth | market | collater debt oblig cdos play |
| market | role provid capit subprim mortgag | market | total volum cdos outstand usbas |
| market | compris larg share aggreg valu | market | us financi asset trillion slide |
| market | investorsin addit overal size cdo | market | ownership anoth relev issu appear |
| market | hedg fund portfolio overal secur | market | fact one recent market estim |
| market | secur market fact one recent | market | estim percent hedg fund structur |
| market | hold larger share overal cdo | market | leverag investor hedg fund share |
| market | widenedreflect latest develop subprim cdo | market | hedg fund appear sustain signific |
| market | latest develop carri implic financi | market | econom fundament govern polici market |
| econom | develop carri implic financi market | econom | fundament govern polici market immedi |
| polici | financi market econom fundament govern | polici | market immedi issu consid whether |
| market | market econom fundament govern polici | market | immedi issu consid whether heighten |
| market | immedi issu consid whether heighten | market | disciplin effect destruct impact far |
| market | far relat contain spillov broader | market | cannot rule two possibl channel |
| market | decis may question valu rate | market | second backup clo market like |
| market | rate market second backup clo | market | like slow temporarili halt leverag |
| market | import issu involv outlook emerg | market | one potenti posit outcom recent |
| market | origin sin mani key emerg | market | acquaint term coin long ago |
| market | symbol alleg perman inabl emerg | market | countri local currenc denomin debt |
| countri | alleg perman inabl emerg market | countri | local currenc denomin debt accept |
| market | purchas sovereign debt numer emerg | market | issuer lead corpor entiti well |
| econom | potenti mitig import sourc financi | econom | instabl asian crisi exacerb larg |
| market | issu whether favor perform emerg | market | weather current strain credit market |
| market | market weather current strain credit | market | risk ignor seem like overcom |
| polici | tide lift boat thus good | polici | maintain favor credit trend surviv |
| market | appropri ask whether latest credit | market | revers could caus abrupt unwind |
| global | abrupt unwind trade sign long | global | outlook situat countri whose currenc |
| countri | sign long global outlook situat | countri | whose currenc tend fund currenc |
| market | conclus regard potenti impact latest | market | develop econom fundament imf baselin |
| econom | potenti impact latest market develop | econom | fundament imf baselin forecast remain |
| market | indic outset turn implic latest | market | develop econom polici recent market |
| econom | turn implic latest market develop | econom | polici recent market gyrat underscor |
| polici | implic latest market develop econom | polici | recent market gyrat underscor need |
| market | market develop econom polici recent | market | gyrat underscor need pay close |
| need | polici recent market gyrat underscor | need | pay close attent evolut new |
| market | pay close attent evolut new | market | applic heighten market disciplin uneven |
| market | evolut new market applic heighten | market | disciplin uneven natur ask policymak |
| market | uneven natur ask policymak help | market | function smooth choos potenti cours |
| market | policymak care work rather grain | market | polici stifl process financi innov |
| polici | care work rather grain market | polici | stifl process financi innov given |
| global | role recent innov play unpreced | global | econom expans cours posit global |
| econom | recent innov play unpreced global | econom | expans cours posit global environ |
| global | global econom expans cours posit | global | environ past five year coexist |
| polici | coexist record current account imbal | polici | maker vigil sign global rebalanc |
| global | imbal polici maker vigil sign | global | rebalanc take place disord fashion |
| econom | fashion outcom would strong repercuss | econom | growth financi market credit market |
| growth | outcom would strong repercuss econom | growth | financi market credit market us |
| market | strong repercuss econom growth financi | market | credit market us start becom |
| market | econom growth financi market credit | market | us start becom unsettl policymak |
| need | start becom unsettl policymak remind | need | implement measur bolster global confid |
| global | remind need implement measur bolster | global | confid includ credibl mediumterm measur |
| global | complet doha round trade talk | global | imbal imf act energi begin |
| global | last year conven multilater consult | global | imbal initi brought togeth five |
| economi | initi brought togeth five princip | economi | includ china euro area japan |
| polici | discuss goal construct set mediumterm | polici | would meet two object signific |
| global | object signific reduc imbal keep | global | growth strong result date multilater |
| growth | signific reduc imbal keep global | growth | strong result date multilater consult |
| global | meet five particip agre reduc | global | imbal share respons volunt implement |
| polici | volunt implement set macroeconom structur | polici | design object statement avail imf |
| also | imf bilater multilater surveil imf | also | activ relev area step analysi |
| market | relev area step analysi financi | market | integr explicit regular macroeconom analys |
| countri | sector assess program fsap member | countri | focus financi sector sound conduct |
| countri | sector sound conduct review member | countri | relev standard code formal review |
| countri | rosc help assess institut member | countri | center macroeconom polici manag imf |
| polici | institut member countri center macroeconom | polici | manag imf undertaken new initi |
| market | undertaken new initi follow intern | market | econom strain enhanc transpar improv |
| econom | new initi follow intern market | econom | strain enhanc transpar improv qualiti |
| econom | enhanc transpar improv qualiti complet | econom | financi data encourag complet prompt |
| countri | fund play key role improv | countri | report standard interest strengthen crisi |
| global | instrument augment exist lend facil | global | economi perform except well mani |
| economi | augment exist lend facil global | economi | perform except well mani countri |
| countri | economi perform except well mani | countri | hold record intern reserv ideal |
| global | membership share repres ongo chang | global | economi process rebalanc quota reflect |
| economi | share repres ongo chang global | economi | process rebalanc quota reflect chang |
| econom | rebalanc quota reflect chang relat | econom | weight member countri among shift |
| countri | chang relat econom weight member | countri | among shift boost role dynam |
| economi | among shift boost role dynam | economi | rais overal vote share emerg |
| market | rais overal vote share emerg | market | countri short activ seek sustain |
| countri | overal vote share emerg market | countri | short activ seek sustain benefit |
| global | activ seek sustain benefit financi | global | preserv macroeconom environ rapid growth |
| growth | global preserv macroeconom environ rapid | growth | low inflat help ensur multilater |
| also | fund relationship govern friend advisor | also | look philippin sourc advic inspir |
| economi | philippin sourc advic inspir emerg | economi | would like share intern monetari |
| global | monetari fund latest think state | global | economi especi recent develop prospect |
| economi | fund latest think state global | economi | especi recent develop prospect asia |
| also | recent develop prospect asia philippin | also | discuss risk global economi challeng |
| global | asia philippin also discuss risk | global | economi challeng pose global polici |
| economi | philippin also discuss risk global | economi | challeng pose global polici respons |
| global | risk global economi challeng pose | global | polici respons help govern contain |
| polici | global economi challeng pose global | polici | respons help govern contain risk |
| global | meet challeng fifth year strong | global | econom expans last week fund |
| econom | challeng fifth year strong global | econom | expans last week fund updat |
| econom | last week fund updat world | econom | outlook project growth exceed percent |
| growth | updat world econom outlook project | growth | exceed percent higher thought month |
| growth | strike develop year shift sourc | growth | unit state main engin growth |
| growth | growth unit state main engin | growth | account almost quarter global growth |
| global | engin growth account almost quarter | global | growth expect case year growth |
| growth | growth account almost quarter global | growth | expect case year growth unit |
| growth | global growth expect case year | growth | unit state fall percent even |
| growth | state fall percent even lower | growth | rate size economi unit state |
| economi | even lower growth rate size | economi | unit state remain import account |
| global | state remain import account percent | global | growth first time largest contribut |
| growth | remain import account percent global | growth | first time largest contribut global |
| global | growth first time largest contribut | global | growth made china also euro |
| growth | first time largest contribut global | growth | made china also euro area |
| also | contribut global growth made china | also | euro area countri benefit structur |
| countri | made china also euro area | countri | benefit structur reform make contribut |
| growth | look ahead expect see pattern | growth | continu expect u economi regain |
| economi | pattern growth continu expect u | economi | regain momentum gradual drag current |
| global | andincreasinglyindia continu grow import engin | global | growth believ growth china like |
| growth | continu grow import engin global | growth | believ growth china like percent |
| growth | import engin global growth believ | growth | china like percent growth india |
| growth | believ growth china like percent | growth | india around percent project growth |
| growth | growth india around percent project | growth | countri almost high next year |
| countri | india around percent project growth | countri | almost high next year economi |
| economi | countri almost high next year | economi | emerg asia show similar strength |
| growth | philippin grow rate close percent | growth | asean togetherindonesia malaysia philippin thailand |
| countri | inflat project remain low asian | countri | includ philippin extern current account |
| global | inflow expect continu sum outlook | global | economi general good econom prospect |
| economi | expect continu sum outlook global | economi | general good econom prospect countri |
| econom | outlook global economi general good | econom | prospect countri emerg asia also |
| countri | economi general good econom prospect | countri | emerg asia also good notwithstand |
| also | econom prospect countri emerg asia | also | good notwithstand advers effect region |
| growth | notwithstand advers effect region low | growth | unit state question risk good |
| polici | state question risk good outlook | polici | need contain risk want bring |
| need | question risk good outlook polici | need | contain risk want bring attent |
| global | think import risk first situat | global | oil market second risk financi |
| market | risk first situat global oil | market | second risk financi market especi |
| market | oil market second risk financi | market | especi affect emerg market third |
| market | financi market especi affect emerg | market | third potenti backlash global let |
| global | emerg market third potenti backlash | global | let take turn market oil |
| market | backlash global let take turn | market | oil except tight far global |
| global | market oil except tight far | global | economi shrug high oil price |
| economi | oil except tight far global | economi | shrug high oil price part |
| econom | part high price larg product | econom | growth led rise demand oil |
| growth | high price larg product econom | growth | led rise demand oil also |
| also | growth led rise demand oil | also | consider vulner suppli side respect |
| global | suppli shock could much damag | global | growth regard oil product geopolit |
| growth | shock could much damag global | growth | regard oil product geopolit concern |
| countri | concern call question reliabl suppli | countri | other underinvest constrain capac refin |
| also | gasolin industri invest longterm payoff | also | led persist underinvest gradual revers |
| market | persist underinvest gradual revers light | market | tight polici curtail demand improv |
| polici | gradual revers light market tight | polici | curtail demand improv energi effici |
| economi | call rapid increas vehicl fuel | economi | standard unit state around world |
| polici | world privat compani alreadi adopt | polici | design conserv energi face rise |
| also | energi face rise cost govern | also | reduc subsidi tax exempt energi |
| also | consider success indonesia last year | also | import exampl similar polici initi |
| polici | year also import exampl similar | polici | initi philippin return minut general |
| growth | tradabl emiss permit asia limit | growth | energi consumpt would good environ |
| also | energi consumpt would good environ | also | mani energi import countri balanc |
| countri | environ also mani energi import | countri | balanc payment let turn risk |
| global | let turn risk stem financi | global | growth dynam capit market contribut |
| growth | turn risk stem financi global | growth | dynam capit market contribut great |
| market | financi global growth dynam capit | market | contribut great prosper recent year |
| countri | upsurg product financi sector mani | countri | global economi also becom substanti |
| global | product financi sector mani countri | global | economi also becom substanti integr |
| economi | financi sector mani countri global | economi | also becom substanti integr financi |
| also | sector mani countri global economi | also | becom substanti integr financi global |
| global | also becom substanti integr financi | global | mani good effect given global |
| global | global mani good effect given | global | saver wider pool invest choos |
| market | given borrow access much broader | market | save lower cost capit case |
| market | case encourag develop local capit | market | financi sector especi flow taken |
| also | product provid employ opportun howev | also | risk associ financi global concern |
| global | howev also risk associ financi | global | concern still fulli appreci alreadi |
| market | seen phenomenon play subprim mortgag | market | unit state mortgag borrow investor |
| market | unit state mortgag borrow investor | market | appear confid hous price would |
| need | attend credit risk develop suggest | need | take fresh look lender underwrit |
| also | fresh look lender underwrit standard | also | educ borrow risk take also |
| also | also educ borrow risk take | also | see ground concern recent dramat |
| growth | see ground concern recent dramat | growth | larg privat equiti buyout financ |
| financ | growth larg privat equiti buyout | financ | rise proport debt deal turn |
| market | trigger reapprais risk would curtail | market | access broad turn could advers |
| growth | turn could advers affect invest | growth | prospect countri problem occur worldwid |
| countri | advers affect invest growth prospect | countri | problem occur worldwid would urg |
| economi | way good thing asian emerg | economi | includ philippin among major beneficiari |
| global | list earlier among benefit financi | global | substanti flow also complic macroeconom |
| also | benefit financi global substanti flow | also | complic macroeconom manag expos countri |
| countri | also complic macroeconom manag expos | countri | receiv abrupt revers flow sudden |
| economi | flow sudden shock occur emerg | economi | best respond capit flow twofold |
| polici | financi sector deepen best macroeconom | polici | respons pursu exchang rate flexibl |
| market | intervent aim smooth volatil exchang | market | case fiscal tighten also appropri |
| also | exchang market case fiscal tighten | also | appropri addit reduc inflationari pressur |
| countri | domest financi sector framework import | countri | receiv capit inflow least like |
| global | want focus today danger backlash | global | countri mani differ posit one |
| countri | focus today danger backlash global | countri | mani differ posit one paradox |
| global | differ posit one paradox recent | global | prosper mani countri econom perform |
| countri | paradox recent global prosper mani | countri | econom perform good peopl satisfact |
| econom | recent global prosper mani countri | econom | perform good peopl satisfact perform |
| econom | extent may attribut fact gain | econom | growth general chang associ global |
| growth | may attribut fact gain econom | growth | general chang associ global distribut |
| global | econom growth general chang associ | global | distribut quit unequ mani advanc |
| economi | distribut quit unequ mani advanc | economi | gdp growth proceed rapid pace |
| growth | unequ mani advanc economi gdp | growth | proceed rapid pace last sever |
| economi | increas near much virtual advanc | economi | share incom accru labor declin |
| economi | total nation incom mani emerg | economi | includ asia inequ also increas |
| also | emerg economi includ asia inequ | also | increas last decad inequ increas |
| countri | last decad inequ increas asian | countri | data avail includ philippin emerg |
| economi | avail includ philippin emerg develop | economi | absolut poverti remain stubborn high |
| global | peopl around world question benefit | global | tempt yield protectionist pressur give |
| econom | yield protectionist pressur give orthodox | econom | polici structur reform think import |
| polici | protectionist pressur give orthodox econom | polici | structur reform think import resist |
| growth | mani benefit cost around world | growth | continu hold greatest promis lift |
| also | poverti provid better opportun disadvantag | also | need make sure fruit growth |
| need | provid better opportun disadvantag also | need | make sure fruit growth wide |
| growth | also need make sure fruit | growth | wide share poorest peopl protect |
| polici | cost adjust let conclud suggest | polici | promot good outcom alreadi put |
| countri | improv technolog accru disproportion richest | countri | richest besteduc peopl countri way |
| countri | richest countri richest besteduc peopl | countri | way address sourc inequ turn |
| growth | reduc cost intern call stimul | growth | inform communic technolog result employ |
| also | six year develop aspect infrastructur | also | help lack access mani poor |
| market | week financi sector develop help | market | failur absenc bank rural area |
| market | rural area add inequ address | market | failur promot microcredit would give |
| also | improv servic custom financi educ | also | import peopl becom consum financi |
| global | conclud return point made outset | global | economi good condit govern keep |
| economi | return point made outset global | economi | good condit govern keep global |
| global | economi good condit govern keep | global | economi grow strong continu good |
| economi | good condit govern keep global | economi | grow strong continu good polici |
| polici | economi grow strong continu good | polici | act contain key risk energi |
| market | contain key risk energi financi | market | also increas support global help |
| also | key risk energi financi market | also | increas support global help poorest |
| global | financi market also increas support | global | help poorest citizen take step |
| polici | bank steadfast pursu sound macroeconom | polici | leader philippin act imagin innov |
| market | central bank great expertis financi | market | qualiti reflect excel paper bank |
| also | asia experienc larg capit inflow | also | larg capit outflow know well |
| market | see everi day inform bank | market | come desk implic world predecessor |
| countri | great increas capit flow seacen | countri | part worldwid phenomenon financi global |
| global | countri part worldwid phenomenon financi | global | around world home countri bias |
| countri | financi global around world home | countri | bias declin institut individu will |
| countri | will abl hold asset outsid | countri | financi global measur sum gross |
| global | hold asset outsid countri financi | global | measur sum gross extern asset |
| countri | asset liabil percent gdp lowincom | countri | Â ½ time gdp middleincom |
| countri | Â ½ time gdp middleincom | countri | Â ½ time gdp highincom |
| countri | Â ½ time gdp highincom | countri | financi global associ wide rang |
| global | time gdp highincom countri financi | global | associ wide rang benefit includ |
| market | given busi access much broader | market | save lower cost capit higher |
| global | increas return first point financi | global | give asia saver access wider |
| global | risk across border addit financi | global | play catalyt role encourag develop |
| market | catalyt role encourag develop capit | market | financi sector improv qualiti institut |
| global | adopt stronger macroeconom framework financi | global | mani benefit polici direct care |
| polici | framework financi global mani benefit | polici | direct care preserv benefit cours |
| global | care preserv benefit cours financi | global | also risk investor countri invest |
| also | preserv benefit cours financi global | also | risk investor countri invest last |
| countri | financi global also risk investor | countri | invest last month sever occas |
| global | sever occas caution risk stem | global | imbal increas protectionist sentiment carri |
| market | hedg fund u subprim mortgag | market | aim draw attent risk predict |
| global | draw attent risk predict disrupt | global | financi market forestal take time |
| market | risk predict disrupt global financi | market | forestal take time action govern |
| countri | action govern regulatori author industri | countri | protect investor market countri recipi |
| market | author industri countri protect investor | market | countri recipi larg capit inflow |
| countri | industri countri protect investor market | countri | recipi larg capit inflow protect |
| economi | recipi larg capit inflow protect | economi | consequ market disrupt let talk |
| market | capit inflow protect economi consequ | market | disrupt let talk action emerg |
| market | disrupt let talk action emerg | market | countri take reduc risk come |
| countri | let talk action emerg market | countri | take reduc risk come larg |
| polici | first prioriti remain good macroeconom | polici | especi exchang rate flexibl mani |
| countri | exchang rate flexibl mani asian | countri | alreadi allow exchang rate float |
| countri | exchang rate flexibl enabl sever | countri | region conduct monetari polici freedom |
| polici | sever countri region conduct monetari | polici | freedom help bring inflat control |
| polici | bring inflat control inde monetari | polici | exchang rate flexibl import element |
| growth | rate flexibl import element sustain | growth | long run economi flourish recent |
| economi | element sustain growth long run | economi | flourish recent econom perform suggest |
| econom | long run economi flourish recent | econom | perform suggest warn export loss |
| econom | steril fiscal cost steril substanti | econom | distort either case place manag |
| econom | work made public next region | econom | outlook want make clear fund |
| market | intervent play reduc volatil exchang | market | includ disrupt shortterm movement exchang |
| polici | fund decis bilater surveil member | polici | new decis emphas import give |
| polici | domest circumst assess exchang rate | polici | anoth approach use reduc exchang |
| market | anoth approach use reduc exchang | market | pressur offset inflow liber capit |
| countri | inflow liber capit outflow mani | countri | region take approach promis result |
| also | rais alloc foreign asset korea | also | liber privat capit outflow lead |
| also | bank thailand announc earlier month | also | consid measur encourag capit outflow |
| market | side liber come domest financi | market | develop strong financi sector cannot |
| countri | mitig fund recent complet studi | countri | need reap benefit financi global |
| need | fund recent complet studi countri | need | reap benefit financi global key |
| global | countri need reap benefit financi | global | key find benefit much like |
| countri | much like realiz financi framework | countri | receiv flow strong solid foundat |
| countri | better abl spread risk less | countri | concern capit inflow make work |
| also | greater region financi integr import | also | mean work seacen member fund |
| countri | assess program signific factor help | countri | get financi global familiar one |
| global | factor help countri get financi | global | familiar one stronger institut sound |
| polici | one stronger institut sound macroeconom | polici | open trade system area seacen |
| countri | open trade system area seacen | countri | score strong cours anoth approach |
| countri | limit control capit inflow understand | countri | consid capit control given difficult |
| countri | difficult tradeoff domest extern object | countri | sometim face capit inflow larg |
| market | temporarili reduc inflow eas exchang | market | pressur howev unlik long also |
| also | market pressur howev unlik long | also | import disadvantag tend set central |
| also | becom ineffect imposit capit control | also | creat distort behavior firm individu |
| financ | problem compani cannot get longterm | financ | usual small busi startup firm |
| countri | capit flow remain protect risk | countri | built reserv first line defens |
| countri | first line defens crise asian | countri | work togeth also establish mechan |
| also | crise asian countri work togeth | also | establish mechan chiang mai initi |
| also | mai initi give support fund | also | consid enhanc effort reduc risk |
| market | design new instrument support emerg | market | would provid mechan countri commit |
| countri | emerg market would provid mechan | countri | commit sound polici make highaccess |
| polici | provid mechan countri commit sound | polici | make highaccess financ avail advers |
| financ | commit sound polici make highaccess | financ | avail advers shock risk econom |
| econom | financ avail advers shock risk | econom | financi market turbul also reduc |
| market | advers shock risk econom financi | market | turbul also reduc good intern |
| also | risk econom financi market turbul | also | reduc good intern cooper econom |
| econom | also reduc good intern cooper | econom | polici let give exampl way |
| polici | reduc good intern cooper econom | polici | let give exampl way multilater |
| countri | exampl way multilater effort help | countri | maintain extern stabil make work |
| global | seen good process cooper issu | global | econom imbal import issu countri |
| econom | good process cooper issu global | econom | imbal import issu countri particular |
| countri | global econom imbal import issu | countri | particular import seacen member given |
| economi | particular import seacen member given | economi | heavi depend export vulner contract |
| global | demand could accompani disord unwind | global | imbal concern disord unwind one |
| economi | launch multilater consult bring larg | economi | togeth discuss measur would lead |
| global | gradual reduct imbal sustain strong | global | growth spring meet month ago |
| growth | reduct imbal sustain strong global | growth | spring meet month ago five |
| economi | meet month ago five major | economi | particip multilater consult china euro |
| polici | arabia unit state joint set | polici | document circul minist repres fund |
| polici | circul minist repres fund member | polici | plan set particip concret mutual |
| countri | concret mutual consist reflect ownership | countri | concern implement reduc imbal sustain |
| growth | concern implement reduc imbal sustain | growth | one import issu multilater consult |
| polici | multilater consult china exchang rate | polici | much focus public discuss issu |
| polici | issu implic china exchang rate | polici | major currenc exchang rate risk |
| polici | unit state china exchang rate | polici | also import effect trade volum |
| also | state china exchang rate polici | also | import effect trade volum exchang |
| countri | best interest would allow asian | countri | appreci less concern competit hand |
| also | intensif trade restrict china would | also | advers effect mani countri includ |
| countri | would also advers effect mani | countri | includ asian countri tight link |
| countri | effect mani countri includ asian | countri | tight link china global product |
| global | asian countri tight link china | global | product chain also possibl protection |
| also | link china global product chain | also | possibl protection spin control disastr |
| global | protection spin control disastr consequ | global | economi polici agre multilater consult |
| economi | spin control disastr consequ global | economi | polici agre multilater consult best |
| polici | control disastr consequ global economi | polici | agre multilater consult best interest |
| global | issu general produc order reduct | global | imbal import countri path taken |
| countri | order reduct global imbal import | countri | path taken increas cooper consult |
| also | path taken increas cooper consult | also | import deepen understand financi market |
| market | also import deepen understand financi | market | take step improv function reduc |
| market | address similar consider appli financi | market | issu intern cooper macroeconom polici |
| polici | market issu intern cooper macroeconom | polici | includ exchang rate issu financi |
| countri | sector issu becom import asian | countri | becom import global economi also |
| global | import asian countri becom import | global | economi also interconnect global economi |
| economi | asian countri becom import global | economi | also interconnect global economi increas |
| also | countri becom import global economi | also | interconnect global economi increas signific |
| global | import global economi also interconnect | global | economi increas signific asia world |
| economi | global economi also interconnect global | economi | increas signific asia world economi |
| economi | economi increas signific asia world | economi | carri respons import asian countri |
| countri | economi carri respons import asian | countri | world nation polici promot asia |
| polici | import asian countri world nation | polici | promot asia develop rebal growth |
| growth | polici promot asia develop rebal | growth | region support multilater solut global |
| global | growth region support multilater solut | global | problem final point greater respons |
| market | final point greater respons emerg | market | economi includ mani seacen countri |
| economi | point greater respons emerg market | economi | includ mani seacen countri match |
| countri | market economi includ mani seacen | countri | match greater influenc global econom |
| global | seacen countri match greater influenc | global | econom decis make includ fund |
| econom | countri match greater influenc global | econom | decis make includ fund last |
| market | first step increas represent emerg | market | countri includ asian countri agre |
| countri | step increas represent emerg market | countri | includ asian countri agre broad |
| countri | emerg market countri includ asian | countri | agre broad outlin next stage |
| need | broad outlin next stage reform | need | translat outlin agre singapor concret |
| global | quota reflect member relat posit | global | economi also hope make progress |
| economi | reflect member relat posit global | economi | also hope make progress broader |
| also | member relat posit global economi | also | hope make progress broader paramet |
| economi | reform result higher share dynam | economi | mani emerg market economi whose |
| market | share dynam economi mani emerg | market | economi whose weight role global |
| economi | dynam economi mani emerg market | economi | whose weight role global economi |
| global | market economi whose weight role | global | economi increas also protect voic |
| economi | economi whose weight role global | economi | increas also protect voic lowincom |
| also | weight role global economi increas | also | protect voic lowincom countri said |
| countri | increas also protect voic lowincom | countri | said mani time issu vital |
| also | issu vital fund legitimaci believ | also | import act quick interconnect world |
| need | import act quick interconnect world | need | cooper countri kind exemplifi seacen |
| countri | quick interconnect world need cooper | countri | kind exemplifi seacen also need |
| also | cooper countri kind exemplifi seacen | also | need strong intern public institut |
| need | countri kind exemplifi seacen also | need | strong intern public institut foundat |
| also | thank much invit today would | also | like thank ana palacio generous |
| also | thank ana palacio generous introduct | also | jame ell chairman european idea |
| also | one guid comfort soldier alcohol | also | use guid polici maker think |
| polici | soldier alcohol also use guid | polici | maker think futur especi futur |
| economi | think futur especi futur world | economi | thing cannot chang law scienc |
| econom | thing cannot chang law scienc | econom | behavior other sometim desir concern |
| need | concern mani thing chang courag | need | wisdom know chang tri achiev |
| need | know chang tri achiev chang | need | wisdom courag world economi look |
| economi | chang need wisdom courag world | economi | look like distant futur depend |
| polici | depend great near futur mani | polici | issu appli today focus particular |
| polici | appli today focus particular relev | polici | maker europ unit state particular |
| global | state particular demograph chang effect | global | look first demograph chang mani |
| countri | look first demograph chang mani | countri | life expect increas birth rate |
| econom | healthier live exercis freedom children | econom | effect develop could damag older |
| also | one demand health care system | also | tend greater peopl older averag |
| also | percent gdp strain pension system | also | increas number defin benefit public |
| countri | toward defin contribut system sever | countri | mani privat employ reduc financi |
| econom | action govern take anticip manag | econom | effect demograph chang govern make |
| market | labor forc abl produc product | market | reform reduct tariff legal barrier |
| market | reduct tariff legal barrier open | market | competit measur creat businessfriend environ |
| countri | unit state recent year govern | countri | age popul also help reduc |
| also | year govern countri age popul | also | help reduc labor market shortag |
| market | popul also help reduc labor | market | shortag encourag immigr put place |
| polici | shortag encourag immigr put place | polici | integr immigr societi reform health |
| also | societi reform health care system | also | help offset increas cost aris |
| countri | mani health care system industri | countri | aspect ineffici exampl per capita |
| countri | total cost health care singapor | countri | compar health outcom clear evid |
| market | compar health outcom clear evid | market | failur high cost substanti scope |
| need | scope reform general older popul | need | result signific higher health care |
| also | higher health care cost peopl | also | stay healthier longer suggest emphasi |
| also | stay healthier longer suggest emphasi | also | place prevent medicin improv health |
| need | behavior individu even reform like | need | greater public provis health care |
| financ | public provis health care could | financ | exampl reduc tax break area |
| financ | deduct mortgag payment sinc hous | financ | well serv effici market pension |
| market | hous financ well serv effici | market | pension reform alreadi agenda mani |
| countri | pension reform alreadi agenda mani | countri | retir age rais franc itali |
| market | would well accompani measur labor | market | reform improv job opportun older |
| countri | pension decent live inde mani | countri | govern need recogn even pension |
| need | live inde mani countri govern | need | recogn even pension reform cost |
| need | cost higher fiscal adjust area | need | offset cost true countri european |
| countri | area need offset cost true | countri | european union unit state expect |
| countri | state expect fall save rate | countri | age popul add need reinforc |
| need | rate countri age popul add | need | reinforc public save countri let |
| countri | add need reinforc public save | countri | let turn second main issu |
| global | would like cover today effect | global | global improv live billion peopl |
| global | like cover today effect global | global | improv live billion peopl expand |
| econom | expand trade increas incom broaden | econom | opportun financi global recent phenomenon |
| global | incom broaden econom opportun financi | global | recent phenomenon also begin dramat |
| also | opportun financi global recent phenomenon | also | begin dramat impact broaden pool |
| growth | current experienc longest period strong | growth | sinc also opposit global particular |
| also | longest period strong growth sinc | also | opposit global particular concern risk |
| global | strong growth sinc also opposit | global | particular concern risk rise protectionist |
| countri | doha round negoti believ politician | countri | concern throw away major opportun |
| also | invest similar reform similar magnitud | also | risk world quick move forward |
| also | resumpt multilater trade negoti import | also | necessari candid risk cost associ |
| global | necessari candid risk cost associ | global | address exampl mani winner loser |
| economi | measur help advers affect strengthen | economi | adapt exampl trade adjust assist |
| also | worker help move grow industri | also | bear mind distribut consequ global |
| global | also bear mind distribut consequ | global | fund advis emerg market economi |
| market | consequ global fund advis emerg | market | economi develop countri complement liber |
| economi | global fund advis emerg market | economi | develop countri complement liber trade |
| countri | advis emerg market economi develop | countri | complement liber trade market measur |
| market | develop countri complement liber trade | market | measur improv incom distribut advic |
| also | equal opportun make workforc flexibl | also | includ replac subsidi often most |
| need | betteroff citizen spend target toward | need | industri countri look critic tax |
| countri | spend target toward need industri | countri | look critic tax system public |
| global | alreadi better educ capit benefit | global | polit support global sustain govern |
| global | capit benefit global polit support | global | sustain govern adopt polici spread |
| polici | support global sustain govern adopt | polici | spread benefit broad financi global |
| global | polici spread benefit broad financi | global | also bring risk well opportun |
| also | spread benefit broad financi global | also | bring risk well opportun fund |
| need | risk well opportun fund emphas | need | emerg market develop countri build |
| market | opportun fund emphas need emerg | market | develop countri build sound financi |
| countri | emphas need emerg market develop | countri | build sound financi system capabl |
| polici | without strain pursu sound macroeconom | polici | avoid financi disrupt financi global |
| global | polici avoid financi disrupt financi | global | also carri risk advanc economi |
| also | avoid financi disrupt financi global | also | carri risk advanc economi import |
| economi | global also carri risk advanc | economi | import supervis regul financi sector |
| global | long way understand chang produc | global | improv time econom effect potenti |
| econom | chang produc global improv time | econom | effect potenti chang less certain |
| econom | pandem know scale human loss | econom | disrupt pandem would caus confront |
| need | would caus confront kind uncertainti | need | good system risk apprais risk |
| need | risk caus consequ cross border | need | good intern coordin strong intern |
| econom | way doubl frequenc regular project | econom | indic inde simon johnson director |
| econom | depart announc today first new | econom | updat issu next week step |
| countri | next week step analysi vulner | countri | econom shock deepen expertis relationship |
| econom | week step analysi vulner countri | econom | shock deepen expertis relationship econom |
| econom | econom shock deepen expertis relationship | econom | financi market develop research macroeconom |
| market | deepen expertis relationship econom financi | market | develop research macroeconom effect climat |
| econom | clear hous exchang inform contain | econom | damag possibl pandem like avian |
| also | possibl pandem like avian flu | also | engag deep institut reform pioneer |
| countri | common problem multilater consult major | countri | discuss share analys approach problem |
| economi | updat legal framework monitor individu | economi | middl program reform voic represent |
| economi | voic represent member give weight | economi | grown import includ major emerg |
| economi | grown import includ major emerg | economi | also protect voic lowincom countri |
| also | import includ major emerg economi | also | protect voic lowincom countri reform |
| countri | economi also protect voic lowincom | countri | reform essenti ensur fund remain |
| need | legitim eye member fund member | need | wisdom decid chang courag implement |
| need | wisdom decid chang courag implement | need | chang stake high know problem |
| countri | certain emerg must prepar member | countri | includ countri europ unit state |
| countri | must prepar member countri includ | countri | europ unit state must prepar |
| also | gentlemen thank kind introduct d | also | like thank friend tom hoenig |
| global | would like share thought regard | global | outlook well discuss evolv role |
| global | opportun discuss begin current situat | global | economi produc except period sustain |
| economi | discuss begin current situat global | economi | produc except period sustain growth |
| growth | economi produc except period sustain | growth | current expans fastest decad also |
| also | growth current expans fastest decad | also | unpreced ubiqu extend period growth |
| growth | also unpreced ubiqu extend period | growth | also notabl unexpect would believ |
| also | unpreced ubiqu extend period growth | also | notabl unexpect would believ begin |
| growth | would usher histor period resili | growth | low inflat boom corpor profit |
| market | low interest rate wonder financi | market | perform strong period broad term |
| global | success reason easi discern combin | global | trade flow financi market innov |
| market | combin global trade flow financi | market | innov major economi improv budget |
| economi | flow financi market innov major | economi | improv budget polici stabilityori monetari |
| polici | innov major economi improv budget | polici | stabilityori monetari polici play role |
| polici | improv budget polici stabilityori monetari | polici | play role import intern trade |
| market | role import intern trade financi | market | liber central fact imf research |
| economi | imf research demonstr simpli exampl | economi | produc sustain rapid growth hasn |
| growth | exampl economi produc sustain rapid | growth | hasn support openeconomi polici cours |
| polici | rapid growth hasn support openeconomi | polici | cours technolog play pivot role |
| econom | natur inevit reflect conscious choic | econom | polici thus open taken grant |
| polici | inevit reflect conscious choic econom | polici | thus open taken grant replic |
| global | replic sustain impress fiveyear period | global | growth happi report imf world |
| growth | sustain impress fiveyear period global | growth | happi report imf world econom |
| econom | growth happi report imf world | econom | outlook forecast anticip current combin |
| growth | forecast anticip current combin solid | growth | low inflat like continu next |
| growth | continu unchang rather under sourc | growth | need shift almost economi next |
| need | unchang rather under sourc growth | need | shift almost economi next year |
| economi | sourc growth need shift almost | economi | next year expans remain strong |
| global | year expans remain strong particular | global | expans past decad reli unusu |
| econom | rate current incom contrast us | econom | growth come year depend unusu |
| growth | current incom contrast us econom | growth | come year depend unusu degre |
| growth | unusu degre strength domest demand | growth | rest world us household save |
| global | asset price appreci case sustain | global | expans requir stronger consumpt invest |
| need | trade partner fortun sign evid | need | shift sourc global growth occur |
| global | sign evid need shift sourc | global | growth occur exampl euro area |
| growth | evid need shift sourc global | growth | occur exampl euro area japanes |
| economi | occur exampl euro area japanes | economi | expect grow faster year unit |
| growth | consumpt spend gain slow export | growth | strengthen thus us nonoil trade |
| market | risk ignor neglect first financi | market | risk increas notabl strain us |
| market | notabl strain us subprim mortgag | market | sever observ anticip impact hous |
| market | sever observ anticip impact hous | market | financi market weak confin far |
| market | anticip impact hous market financi | market | weak confin far main subprim |
| market | subprim sector one rule broader | market | challeng particular problem sector becam |
| growth | asset class exampl corpor profit | growth | wane unexpect credit spread market |
| market | growth wane unexpect credit spread | market | could affect dampen activ let |
| global | relat past year second risk | global | inflat outlook skill manag monetari |
| polici | inflat outlook skill manag monetari | polici | help contain risk nonetheless possibl |
| econom | geopolit shock andor declin credibl | econom | polici circumst mere scale global |
| polici | shock andor declin credibl econom | polici | circumst mere scale global payment |
| global | econom polici circumst mere scale | global | payment imbal could exacerb concern |
| econom | primari task encourag implement sound | econom | polici success support global expans |
| polici | task encourag implement sound econom | polici | success support global expans past |
| global | sound econom polici success support | global | expans past five year time |
| econom | establish aim creat open fair | econom | financi system member countri accept |
| countri | fair econom financi system member | countri | accept set oblig detail constitut |
| polici | author meet year respons import | polici | issu propos ammend articl fund |
| also | compris execut branch execut board | also | serv system judiciari respons determin |
| countri | system judiciari respons determin member | countri | fulfil oblig support stabl open |
| polici | decis govern staff assess member | polici | predat amend articl grant member |
| polici | actual practic imf surveil member | polici | surveil fund uniqu term art |
| econom | uniqu term art process review | econom | develop polici member countri expans |
| polici | art process review econom develop | polici | member countri expans fund membership |
| countri | review econom develop polici member | countri | expans fund membership sinc rapid |
| global | fund membership sinc rapid expans | global | trade explos growth intern capit |
| growth | rapid expans global trade explos | growth | intern capit flow made complex |
| countri | complex process judg whether member | countri | fulfil oblig support open system |
| econom | board made explicit standard satisfactori | econom | polici conduct regard exchang rate |
| polici | made explicit standard satisfactori econom | polici | conduct regard exchang rate relat |
| polici | conduct regard exchang rate relat | polici | essenc board instruct fund staff |
| countri | manag pay close attent member | countri | exchang rate polici sort back |
| polici | attent member countri exchang rate | polici | sort back basic move time |
| countri | candor employ best judgment analyz | countri | exchang rate econom polici also |
| econom | judgment analyz countri exchang rate | econom | polici also enjoin maintain evenhanded |
| polici | analyz countri exchang rate econom | polici | also enjoin maintain evenhanded remind |
| also | countri exchang rate econom polici | also | enjoin maintain evenhanded remind appli |
| countri | accord articl quota reflect member | countri | econom weight share rebalanc three |
| econom | articl quota reflect member countri | econom | weight share rebalanc three decad |
| economi | quota increas four underrepres dynam | economi | china korea mexico turkey present |
| also | later year spring meet latest | also | develop new tool call multilater |
| countri | flexibl conven group relev member | countri | address specif challeng global stabil |
| global | member countri address specif challeng | global | stabil prosper first multilater consult |
| global | consult address dual goal sustain | global | growth reduc global imbal particip |
| growth | address dual goal sustain global | growth | reduc global imbal particip includ |
| global | goal sustain global growth reduc | global | imbal particip includ five system |
| economi | particip includ five system relev | economi | china euro area japan saudi |
| polici | consult commit specif set mediumterm | polici | fulli implement help promot rebalanc |
| global | fulli implement help promot rebalanc | global | economi along line outlin earlier |
| economi | implement help promot rebalanc global | economi | along line outlin earlier particular |
| polici | line outlin earlier particular particip | polici | plan report rest fund membership |
| polici | consult prove use addit fund | polici | toolkit besid evolv role fund |
| global | fund continu provid public good | global | communiti data standard dissemin technic |
| econom | goal facilit maintain order multilater | econom | financi system smooth function intern |
| need | earlier decad arrang alway perfect | need | except difficult time stand reason |
| global | reason intern institut entrust safeguard | global | econom stabil prosper longterm role |
| econom | intern institut entrust safeguard global | econom | stabil prosper longterm role relev |
| countri | except favor time fund member | countri | need whatev preserv sustain latest |
| need | favor time fund member countri | need | whatev preserv sustain latest gain |
| econom | potenti futur challeng system stabil | econom | progress thank attent happi answer |
| financ | place backdrop substanti improv public | financ | mani countri europ elsewher improv |
| countri | substanti improv public financ mani | countri | europ elsewher improv due rough |
| countri | equal measur structur cyclic factor | countri | taken difficult step strengthen under |
| econom | strengthen under fiscal posit stronger | econom | activ boost tax revenu reduc |
| countri | fiscal sustain yet secur mani | countri | moreov remain elus expect continu |
| econom | remain elus expect continu benign | econom | condit lead complac inde alreadi |
| countri | littl adjust especi larger european | countri | given challeng pose popul age |
| global | given challeng pose popul age | global | climat chang heighten risk fiscal |
| polici | ensur fiscal sustain without strong | polici | action current good time provid |
| polici | provid opportun direct focus fiscal | polici | challeng lie ahead say outset |
| global | challeng lie ahead say outset | global | natur challeng make amen cooper |
| polici | natur challeng make amen cooper | polici | respons case nation govern work |
| need | highlight imf mediumterm strategi emphas | need | imf undertak deeper analysi context |
| polici | multilater surveil let return main | polici | challeng give brief perspect key |
| countri | ongo project shift demograph european | countri | elsewher come decad rise longev |
| market | govern spend advanc mani emerg | market | countri popul advanc countri expect |
| countri | spend advanc mani emerg market | countri | popul advanc countri expect smaller |
| countri | emerg market countri popul advanc | countri | expect smaller consider older oldag |
| economi | implic virtual everi aspect societi | economi | specif fiscal domain upward pressur |
| also | poverti privat pension scheme could | also | turn less secur anticip privat |
| countri | compani unload pension oblig govern | countri | chile privatis social secur scheme |
| polici | debt burden would unsustain current | polici | europ well unit state japan |
| economi | longrun fiscal sustain substanti advanc | economi | typic rang percentag point gdp |
| need | rang percentag point gdp adjust | need | reflect expect increas agerel spend |
| countri | although recent pension reform mani | countri | welcom step right direct yet |
| financ | direct yet suffici make public | financ | sustain need adjust approxim size |
| need | suffici make public financ sustain | need | adjust approxim size wellestablish fact |
| global | potenti role cooper strategi deal | global | consequ adjust age larg economi |
| economi | global consequ adjust age larg | economi | third interact structur reform case |
| growth | benefit earli action substanti mediumterm | growth | dividend would aris put public |
| financ | dividend would aris put public | financ | sustain foot near term regard |
| countri | effect fiscal consolid wide rang | countri | moder intern cooper cooper could |
| global | cooper could instanc lead declin | global | longerterm interest rate provid offset |
| countri | complementari structur reform undertaken number | countri | simultan could also benefici effect |
| also | undertaken number countri simultan could | also | benefici effect growth issu analyz |
| growth | simultan could also benefici effect | growth | issu analyz today first present |
| econom | like advers effect climat chang | econom | perform public financ mani countri |
| financ | climat chang econom perform public | financ | mani countri worldwid possibl econom |
| countri | econom perform public financ mani | countri | worldwid possibl econom impact climat |
| econom | financ mani countri worldwid possibl | econom | impact climat chang aris varieti |
| global | green hous gas abat percent | global | gdp sketch altern emiss path |
| global | develop altern energi sourc involv | global | emiss fall percent otherwis global |
| global | global emiss fall percent otherwis | global | output loss due climat chang |
| global | estim cost reduc emiss contribut | global | warm use differ discount rate |
| polici | target panel conclud cost emissionreduc | polici | could rather lower recommend use |
| polici | lower recommend use rang tax | polici | instrument reduc carbon emiss fund |
| countri | climat chang impact imf member | countri | relat polici challeng present hear |
| polici | impact imf member countri relat | polici | challeng present hear today examin |
| global | examin stake cost delay action | global | govern financesanoth import aspect fiscal |
| global | aspect fiscal sustain relat impact | global | govern revenu expenditur doubt abil |
| econom | return consider benefit enhanc effici | econom | potenti countri worldwid equal littl |
| countri | benefit enhanc effici econom potenti | countri | worldwid equal littl doubt global |
| global | countri worldwid equal littl doubt | global | like substanti effect countri abil |
| countri | doubt global like substanti effect | countri | abil sustain tax revenu given |
| countri | tax competit capit mount oecd | countri | eu specif statutori corpor tax |
| countri | pronounc fall govern revenu mani | countri | despit reduct tax rate quit |
| global | base increas due benefici effect | global | product growth could also reflect |
| growth | due benefici effect global product | growth | could also reflect expans type |
| also | effect global product growth could | also | reflect expans type activ cover |
| also | tax base remov exempt could | also | bear fruit addit cyclic surg |
| global | stori end time increas evid | global | like increas demand govern spend |
| global | competit although far littl evid | global | per se rather technolog chang |
| economi | respons grow incom inequ advanc | economi | polici maker find difficult resist |
| polici | grow incom inequ advanc economi | polici | maker find difficult resist public |
| economi | part popul advers affect open | economi | moreov global also like increas |
| global | advers affect open economi moreov | global | also like increas financi risk |
| also | affect open economi moreov global | also | like increas financi risk substanti |
| polici | worldwid link corpor tax tax | polici | coordin fiscal risk contingenciesth last |
| need | risk connect publicpriv partnership general | need | examin close done last present |
| financ | today public opinionther doubt public | financ | advanc economi face except confluenc |
| economi | opinionther doubt public financ advanc | economi | face except confluenc challeng upcom |
| econom | tax mobil factor product weaken | econom | growth like slow labor forc |
| growth | mobil factor product weaken econom | growth | like slow labor forc declin |
| growth | labor forc declin size product | growth | may level provid radic differ |
| polici | provid radic differ environ fiscal | polici | past decad character benign demograph |
| growth | character benign demograph rapid product | growth | relat low commod price uninhibit |
| polici | opinion new environ crucial success | polici | put public financ sustain longterm |
| financ | crucial success polici put public | financ | sustain longterm foot past experi |
| countri | exampl context fiscal adjust mani | countri | implement qualifi euro access show |
| polici | play use role ultim help | polici | maker adopt unpopular yet necessari |
| countri | imf play role howev mani | countri | independ institut also nation level |
| also | howev mani countri independ institut | also | nation level cooper solutiona note |
| global | fiscal sustain age climat chang | global | fiscal risk transcend boundari nation |
| economi | policymak fact larg part world | economi | face econom fiscal consequ time |
| econom | larg part world economi face | econom | fiscal consequ time impli danger |
| polici | consequ time impli danger beggarthyneighbor | polici | altern scope gain cooper discuss |
| countri | mani largest fiscal risk mani | countri | face today transnat natur particular |
| market | transnat natur particular stem financi | market | final climat chang pressur global |
| global | market final climat chang pressur | global | public financ particular tax competit |
| financ | climat chang pressur global public | financ | particular tax competit goe without |
| polici | tax competit goe without say | polici | intern coordin effect gather one |
| countri | one help strengthen mutual understand | countri | perspect polici challeng contribut better |
| polici | strengthen mutual understand countri perspect | polici | challeng contribut better cooper spirit |
| global | import policymak public larg make | global | work would like address issu |
| polici | issu angl find particular interest | polici | reform intern monetari fund pursu |
| global | reform intern monetari fund pursu | global | membership countri also within ensur |
| countri | monetari fund pursu global membership | countri | also within ensur member countri |
| also | fund pursu global membership countri | also | within ensur member countri maxim |
| countri | countri also within ensur member | countri | maxim benefit minim risk global |
| global | countri maxim benefit minim risk | global | global chang natur global refer |
| global | maxim benefit minim risk global | global | chang natur global refer increas |
| global | risk global global chang natur | global | refer increas integr world trade |
| market | increas integr world trade financi | market | integr associ liber trade flow |
| countri | trade flow crossbord invest help | countri | converg time term wealth well |
| global | resourc facilit trade invest flow | global | recent phenomenon today reach depth |
| countri | around world result increas number | countri | contribut today world growth make |
| growth | number countri contribut today world | growth | make much deepli integr vibrant |
| growth | stabl averag real per capita | growth | rang percent annual accompani low |
| global | accompani low inflat scope natur | global | chang two signific respect first |
| countri | alon show quantum leap interdepend | countri | econom financi sector around globe |
| econom | show quantum leap interdepend countri | econom | financi sector around globe risk |
| global | around globe risk posit effect | global | posit world econom indic howev |
| econom | posit effect global posit world | econom | indic howev make us complac |
| global | us complac risk concern associ | global | junctur four main sourc risk |
| global | great increas capit flow contribut | global | growth also permit current account |
| growth | increas capit flow contribut global | growth | also permit current account imbal |
| also | capit flow contribut global growth | also | permit current account imbal unsustain |
| economi | percent gdp counterpart most emerg | economi | oilexport countri risk disord adjust |
| countri | counterpart most emerg economi oilexport | countri | risk disord adjust global imbal |
| global | oilexport countri risk disord adjust | global | imbal mediumterm challeng concern quit |
| market | concern quit time integr financi | market | allow greater risk share also |
| also | market allow greater risk share | also | impli faster transmiss shock past |
| market | may subject sudden repric case | market | particip updat simultan risk percept |
| countri | correct could spread rapid across | countri | global develop share popul advanc |
| global | could spread rapid across countri | global | develop share popul advanc less |
| countri | share popul advanc less develop | countri | made slow progress wellb lost |
| market | ground aggreg integr labor emerg | market | like china india global economi |
| global | emerg market like china india | global | economi winwin situat size pie |
| economi | market like china india global | economi | winwin situat size pie grown |
| economi | size pie grown tremend advanc | economi | incom share labor declin relat |
| countri | declin relat capit less advanc | countri | well although data limit inequ |
| countri | data limit inequ rich lowincom | countri | within group within number countri |
| countri | countri within group within number | countri | increas process global new econom |
| global | within number countri increas process | global | new econom power emerg asia |
| econom | countri increas process global new | econom | power emerg asia europ latin |
| global | middl east take increas part | global | trade financi flow third world |
| polici | third world stock intern reserv | polici | countri pursu well way manag |
| countri | world stock intern reserv polici | countri | pursu well way manag reserv |
| economi | manag reserv profound impact world | economi | financi system ensur voic appropri |
| global | major stake multilater collabor approach | global | econom financi issu sustain global |
| econom | stake multilater collabor approach global | econom | financi issu sustain global econom |
| global | global econom financi issu sustain | global | econom dynam thus pregnant risk |
| econom | econom financi issu sustain global | econom | dynam thus pregnant risk backlash |
| global | pregnant risk backlash major concern | global | pull everyon equal most industri |
| global | industri world rais voic threat | global | pose employ live standard demand |
| countri | standard demand labor capit shift | countri | input cheapest other particular lowskil |
| countri | lowskil poor live less develop | countri | worri receiv share fruit faster |
| growth | worri receiv share fruit faster | growth | driven process global howev contribut |
| global | fruit faster growth driven process | global | howev contribut govern respond call |
| global | call may tempt turn back | global | retreat protection erect barrier import |
| global | wors done protect risk associ | global | avoid return protection fund help |
| countri | avoid return protection fund help | countri | meet challeng global address concern |
| global | fund help countri meet challeng | global | address concern imf put place |
| countri | mediumterm strategi aim work member | countri | minim risk global maxim benefit |
| global | work member countri minim risk | global | maxim benefit base undertaken number |
| global | way oper adapt role new | global | world environ enhanc tool let |
| countri | activ name way monitor assess | countri | polici provid polici advic help |
| polici | name way monitor assess countri | polici | provid polici advic help foster |
| polici | monitor assess countri polici provid | polici | advic help foster dialogu global |
| global | polici advic help foster dialogu | global | issu requir multicountri polici action |
| polici | dialogu global issu requir multicountri | polici | action coordin new surveil tool |
| global | first multilater consult focus issu | global | extern imbal discuss system import |
| countri | extern imbal discuss system import | countri | group countri success conclud show |
| countri | discuss system import countri group | countri | success conclud show valu new |
| polici | upon includ particular tighter fiscal | polici | unit state greater exchang rate |
| growth | asia structur reform improv potenti | growth | fiscal sustain europ japan gradual |
| economi | expenditur social system infrastructur oilexport | economi | import step alreadi taken area |
| polici | replac decis surveil exchang rate | polici | decis bilater surveil member polici |
| polici | polici decis bilater surveil member | polici | new decis provid complet guidanc |
| polici | guidanc member conduct exchang rate | polici | cover major caus extern instabl |
| polici | major caus extern instabl root | polici | decis enjoin member avoid exchang |
| countri | particular gain unfair competit advantag | countri | new decis add principl recommend |
| polici | recommend member avoid exchang rate | polici | result extern instabl regardless purpos |
| polici | purpos therebi captur exchang rate | polici | proven major sourc instabl past |
| also | instabl past decad new decis | also | much comprehens old one cover |
| polici | old one cover exchang rate | polici | also domest polici paradox help |
| also | one cover exchang rate polici | also | domest polici paradox help prevent |
| polici | exchang rate polici also domest | polici | paradox help prevent surveil spread |
| polici | thin sinc help identifi domest | polici | realli critic extern stabil overal |
| market | guard risk financi crise emerg | market | economi new fund financ facil |
| economi | risk financi crise emerg market | economi | new fund financ facil consid |
| financ | emerg market economi new fund | financ | facil consid help assur financ |
| financ | financ facil consid help assur | financ | countri pursu appropri polici event |
| countri | facil consid help assur financ | countri | pursu appropri polici event face |
| polici | assur financ countri pursu appropri | polici | event face crisi togeth surveil |
| countri | contribut enhanc crisi prevent emerg | countri | tackl challeng rais integr financi |
| market | tackl challeng rais integr financi | market | imf give increas emphasi financi |
| economi | attent linkag financi sector real | economi | also analysi financi sector vulner |
| also | linkag financi sector real economi | also | analysi financi sector vulner made |
| polici | integr part fund macroeconom analysi | polici | advic surveil individu economi support |
| economi | analysi polici advic surveil individu | economi | support effort monetari capit market |
| market | economi support effort monetari capit | market | mcm depart establish merg consolid |
| countri | set reform aim help lowincom | countri | lic reap full benefit global |
| global | countri lic reap full benefit | global | percent imf membership potenti affect |
| countri | percent imf membership potenti affect | countri | mani countri africa although region |
| countri | membership potenti affect countri mani | countri | africa although region whole grow |
| countri | year past year diverg across | countri | fund follow sever line action |
| polici | lic meet millennium develop goal | polici | advic technic cooper financi assist |
| financ | debt burden remain sustain new | financ | effect promot propoor growth fund |
| growth | new financ effect promot propoor | growth | fund continu work close world |
| also | donor civil societi govern imf | also | continu play catalyt role scalingup |
| countri | absenc direct financi assist endors | countri | macroeconom polici exampl polici support |
| polici | financi assist endors countri macroeconom | polici | exampl polici support instrument fund |
| polici | endors countri macroeconom polici exampl | polici | support instrument fund provid support |
| growth | fund provid support area critic | growth | particular trade success conclus doha |
| growth | conclus doha round key promot | growth | poverti reduct imf consist call |
| countri | reduct imf consist call industri | countri | elimin distort subsidi especi agricultur |
| countri | distort subsidi especi agricultur develop | countri | open industri sector fund stand |
| countri | readi provid financi assist member | countri | help address potenti balanc payment |
| financ | impact trade reform measur regular | financ | facil addit fund also creat |
| also | regular financ facil addit fund | also | creat trade integr mechan tim |
| countri | integr mechan tim augment support | countri | suffer temporari balanc payment setback |
| countri | payment setback due trade liber | countri | cours multilater trade liber issu |
| economi | multilater trade liber issu advanc | economi | well perceiv impact global inequ |
| global | advanc economi well perceiv impact | global | inequ also focus new fund |
| also | well perceiv impact global inequ | also | focus new fund work goal |
| polici | goal help govern design adequ | polici | allevi cost global indepth studi |
| global | design adequ polici allevi cost | global | indepth studi fund effect global |
| global | global indepth studi fund effect | global | employ publish april world econom |
| econom | global employ publish april world | econom | outlook weo support follow conclus |
| global | outlook weo support follow conclus | global | provid cheaper import benefici advanc |
| countri | provid cheaper import benefici advanc | countri | technolog global larger contributor declin |
| global | import benefici advanc countri technolog | global | larger contributor declin share labor |
| polici | labor light avoid protectionist backlash | polici | aim improv flexibl labor market |
| market | polici aim improv flexibl labor | market | reduc tax wedg labor eas |
| polici | worker job transit process set | polici | challeng cours appli emerg market |
| market | polici challeng cours appli emerg | market | develop countri like suffer distribut |
| countri | cours appli emerg market develop | countri | like suffer distribut consequ global |
| global | countri like suffer distribut consequ | global | rapid growth incom data scarc |
| growth | suffer distribut consequ global rapid | growth | incom data scarc adequ measur |
| countri | structur strengthen voic represent emerg | countri | first stage reform quota fund |
| global | mexico turkey reflect better weight | global | economi fund seek consensus new |
| economi | turkey reflect better weight global | economi | fund seek consensus new quota |
| countri | fund advic promot commit member | countri | multilater approach address econom financi |
| econom | member countri multilater approach address | econom | financi issu much potenti global |
| global | econom financi issu much potenti | global | foster integr emerg develop economi |
| economi | global foster integr emerg develop | economi | world economi enabl countri benefit |
| economi | integr emerg develop economi world | economi | enabl countri benefit process advanc |
| countri | develop economi world economi enabl | countri | benefit process advanc economi alreadi |
| economi | enabl countri benefit process advanc | economi | alreadi benefit steadi growth low |
| growth | advanc economi alreadi benefit steadi | growth | low inflat govern role play |
| need | sourc chang well benefit challeng | need | smooth cost transit flexibl labor |
| market | smooth cost transit flexibl labor | market | educ social safeti net process |
| countri | adapt role strengthen tool help | countri | reap full benefit global manag |
| global | help countri reap full benefit | global | manag risk view express author |
| also | sixth annual region confer let | also | thank presid central bank minist |
| financ | thank presid central bank minist | financ | superintend head region institut senior |
| countri | us long complex rich histori | countri | particular satisfi take part first |
| countri | close cordial relat develop time | countri | region imf even import come |
| polici | provid vital opportun talk import | polici | issu region take stock progress |
| global | time reform take advantag benign | global | environ theme feel apt region |
| global | us region fund adapt chang | global | environ second propiti time reform |
| global | second propiti time reform favor | global | econom condit give us region |
| econom | propiti time reform favor global | econom | condit give us region fund |
| polici | space design put place farreach | polici | chang sunni day fix roof |
| need | made import progress past decad | need | recount audienc exhaust detail achiev |
| polici | candid guatemala call respons macroeconom | polici | question term concret result averag |
| countri | notwithstand larg negat oil shock | countri | region abl avoid signific deterior |
| economi | activ sought greater integr world | economi | evolut trade flow show total |
| economi | among action increas integr world | economi | implement central americandominican republ free |
| growth | agreement european union despit achiev | growth | rate region yet would like |
| polici | level remain way high key | polici | challeng remain region period relat |
| countri | reform would particular import first | countri | region reduc public debt durabl |
| global | boost region resili shock eventu | global | econom downturn key entrench confid |
| econom | region resili shock eventu global | econom | downturn key entrench confid local |
| econom | entrench confid local foreign investor | econom | stabil region requir target stronger |
| countri | program review tomorrow morn mani | countri | region made import stride tax |
| also | stride tax administr help regard | also | believ requir pension reform given |
| need | coverag popul regress second inflat | need | steadili brought low singl digit |
| economi | new intern standard appli advanc | economi | larg emerg market anoth clear |
| market | appli advanc economi larg emerg | market | anoth clear demonstr stabil region |
| need | anoth clear demonstr stabil region | need | aspir also object would benefit |
| also | demonstr stabil region need aspir | also | object would benefit poor given |
| polici | achiev object necessit enhanc monetari | polici | framework countri recapit central bank |
| countri | necessit enhanc monetari polici framework | countri | recapit central bank area costa |
| need | third recent event region demonstr | need | done strengthen supervis regul financi |
| econom | wide use worldwid rank world | econom | forum global competit indic world |
| global | worldwid rank world econom forum | global | competit indic world bank busi |
| polici | guatemala fifth certain least macroeconom | polici | particular fiscal polici must share |
| polici | least macroeconom polici particular fiscal | polici | must share wide benefit growth |
| growth | polici must share wide benefit | growth | reduc poverti broaden support continu |
| polici | tomorrow present distribut impact tax | polici | social spend convinc show feel |
| global | member address challeng st centuri | global | stress need fund attent member |
| need | challeng st centuri global stress | need | fund attent member challeng resourc |
| econom | two relat strengthen core activ | econom | monitor surveil two relat strengthen |
| econom | cours essenti effect let begin | econom | monitor work two week ago |
| market | board broad support industri emerg | market | develop countri approv new legal |
| countri | support industri emerg market develop | countri | approv new legal framework bilater |
| econom | legal framework bilater surveil base | econom | monitor work year old board |
| global | address develop pose greatest challeng | global | stabil recent year reflect period |
| polici | revis framework first ever comprehens | polici | statement surveil reform confirm dialogu |
| countri | surveil call surveil evenhand amongst | countri | pay due regard domest circumst |
| countri | surveil exchang rate key link | countri | economi develop exchang market often |
| economi | exchang rate key link countri | economi | develop exchang market often lead |
| market | link countri economi develop exchang | market | often lead indic econom problem |
| econom | exchang market often lead indic | econom | problem econom relat countri becom |
| econom | often lead indic econom problem | econom | relat countri becom disord exchang |
| countri | indic econom problem econom relat | countri | becom disord exchang rate move |
| economi | cours particular import small open | economi | region particular vulner extern instabl |
| econom | instabl second key initi strengthen | econom | monitor introduct multilater consult aim |
| countri | togeth around one tabl group | countri | parti particular problem system import |
| countri | discuss take place auspic imf | countri | direct parti consult would also |
| also | countri direct parti consult would | also | voic discuss fund execut board |
| global | issu central import member reduc | global | imbal larg current account deficit |
| global | larg surplus elsewher sustain strong | global | growth year spring meet april |
| growth | surplus elsewher sustain strong global | growth | year spring meet april five |
| polici | arabia unit state joint set | polici | plan document circul minist repres |
| countri | member signific develop fact particip | countri | agre put forward polici discuss |
| polici | particip countri agre put forward | polici | discuss multilater set show recognit |
| global | discuss multilater set show recognit | global | natur problem well commit multilater |
| polici | problem well commit multilater moreov | polici | plan reason concret mutual consist |
| financ | relat fund govern incept fund | financ | activ spread lend borrow lend |
| global | signific recent year due improv | global | environ strong global liquid signific |
| global | due improv global environ strong | global | liquid signific improv econom polici |
| econom | strong global liquid signific improv | econom | polici mani countri good news |
| polici | global liquid signific improv econom | polici | mani countri good news welcom |
| countri | signific improv econom polici mani | countri | good news welcom develop member |
| market | us avail sourc like capit | market | like underscor need reform financ |
| need | like capit market like underscor | need | reform financ model fund incom |
| financ | market like underscor need reform | financ | model fund incom paradox depend |
| polici | invest fund current reserv line | polici | world bank rais averag return |
| financ | resourc current generat incom use | financ | lend sell small portion fund |
| need | reserv draw sever year come | need | establish reliabl incom sourc give |
| countri | member quota aim increas represent | countri | whose econom weight increas recent |
| econom | aim increas represent countri whose | econom | weight increas recent year also |
| also | econom weight increas recent year | also | protect voic represent lowincom countri |
| countri | also protect voic represent lowincom | countri | began first round quota ad |
| market | last year four dynam emerg | market | china mexico korea turkey current |
| countri | basic vote safeguard posit lowincom | countri | next challeng reach agreement new |
| global | appropri captur relat posit member | global | economi also agreement reform result |
| economi | captur relat posit member global | economi | also agreement reform result higher |
| also | relat posit member global economi | also | agreement reform result higher share |
| economi | reform result higher share dynam | economi | mani emerg market economi whose |
| market | share dynam economi mani emerg | market | economi whose weight role global |
| economi | dynam economi mani emerg market | economi | whose weight role global economi |
| global | market economi whose weight role | global | economi increas object remain agre |
| economi | economi whose weight role global | economi | increas object remain agre new |
| polici | central america reform effort close | polici | dialogu technic assist need financi |
| need | close polici dialogu technic assist | need | financi arrang primari goal trust |
| countri | primari goal trust advisor member | countri | much hope central america remain |
| global | sens ultim help propel import | global | chang began mark begin think |
| global | begin think second wave modern | global | first phase bretton wood era |
| global | first phase bretton wood era | global | partial everi sens contrast hallmark |
| global | univers chang associ second phase | global | underpin remark tonight econom financi |
| econom | phase global underpin remark tonight | econom | financi impact profound even daili |
| economi | even daili live sinc world | economi | becom substanti open integr fact |
| global | time centuri speak meaning truli | global | economi global financi market cours |
| economi | centuri speak meaning truli global | economi | global financi market cours mani |
| global | speak meaning truli global economi | global | financi market cours mani way |
| market | truli global economi global financi | market | cours mani way first decad |
| global | first decad second phase modern | global | notabl problem engend benefit bestow |
| growth | benefit bestow think strain sluggish | growth | europ asian crisi russia debt |
| econom | pace help power sustain rapid | econom | growth mani emerg market develop |
| growth | help power sustain rapid econom | growth | mani emerg market develop countri |
| market | rapid econom growth mani emerg | market | develop countri time chang intern |
| countri | growth mani emerg market develop | countri | time chang intern financ noth |
| financ | develop countri time chang intern | financ | noth short revolutionari valu crossbord |
| market | transact increas almost explos pace | market | also incorpor innov new risk |
| also | increas almost explos pace market | also | incorpor innov new risk transfer |
| global | virtual unknown sinc benefit phase | global | becom appar global growth persist |
| global | benefit phase global becom appar | global | growth persist exceed consensus expect |
| growth | phase global becom appar global | growth | persist exceed consensus expect unusu |
| econom | unusu wellbalanc accord imf world | econom | outlook forecast growth year next |
| growth | imf world econom outlook forecast | growth | year next remain solid annual |
| global | correct would mark fastest sustain | global | expans four decad rapid growth |
| growth | global expans four decad rapid | growth | sever key emerg economi creat |
| economi | rapid growth sever key emerg | economi | creat histor success poverti reduct |
| global | challeng sharpli increas energi price | global | inflat pressur appear remain contain |
| need | inflat pressur appear remain contain | need | remind germani signific improv econom |
| econom | need remind germani signific improv | econom | perform role help power stronger |
| growth | perform role help power stronger | growth | throughout euro zone beyond financi |
| econom | play role promot unexpect good | econom | perform net crossbord financi flow |
| market | earli develop new risk transfer | market | deriv secur help spread risk |
| global | horizon success innov help rais | global | growth made economi flexibl resili |
| growth | success innov help rais global | growth | made economi flexibl resili sure |
| economi | help rais global growth made | economi | flexibl resili sure financi innov |
| global | flexibl resili sure financi innov | global | also bring challeng made task |
| also | resili sure financi innov global | also | bring challeng made task supervisori |
| market | relat theme first challeng financi | market | innov especi growth hedg fund |
| growth | challeng financi market innov especi | growth | hedg fund second imf respond |
| global | challeng broad second phase modern | global | two central messag first make |
| global | make sure reap benefit financi | global | insur regulatori supervisori author abl |
| market | fulfil system role turn financi | market | grow presenc hedg fund welcom |
| also | discuss subject germani presid g | also | welcom financi stabil forum updat |
| financ | forward see forum followup report | financ | minist later year hedg fund |
| global | manag hedg fund constitut less | global | financi asset face larg share |
| market | account much greater share term | market | turnov newer market credit default |
| market | share term market turnov newer | market | credit default swap structur credit |
| market | part import driver financi innov | market | liquid despit relat small size |
| also | liquid despit relat small size | also | explain hedg fund rise influenc |
| market | necessarili undertak transact under cash | market | advanc risk transfer instrument lower |
| countri | howev hedg fund invest mani | countri | larg confin sophist investor higher |
| also | sophist investor higher risk toler | also | encourag hedg fund pursu activ |
| growth | leverag thus hedg fund rapid | growth | reflect abil use innov instrument |
| financ | regul ensur regul institut effect | financ | hedg fund leverag posit end |
| market | due attent paid sound deriv | market | hedg fund other reli wide |
| market | oper goal allow counterparti exercis | market | disciplin effect anoth supervisori complic |
| need | fundtyp exposur case policymak anticip | need | consid investor protect issu regard |
| also | retail institut investor imf perspect | also | import adequ intern cooper among |
| market | among supervisori author potenti spillov | market | strain could quick identifi address |
| global | challeng imf second wave modern | global | made institut truli global encompass |
| global | modern global made institut truli | global | encompass member countri dynam global |
| countri | institut truli global encompass member | countri | dynam global economi sinc alter |
| global | global encompass member countri dynam | global | economi sinc alter relat econom |
| economi | encompass member countri dynam global | economi | sinc alter relat econom weight |
| econom | global economi sinc alter relat | econom | weight member well accompani dynam |
| global | weight member well accompani dynam | global | capit market also alter fund |
| market | well accompani dynam global capit | market | also alter fund challeng growth |
| also | accompani dynam global capit market | also | alter fund challeng growth intern |
| growth | market also alter fund challeng | growth | intern capit market scale cross |
| market | fund challeng growth intern capit | market | scale cross border capit flow |
| market | origin conceiv world close capit | market | strain system appear earli year |
| need | unconvinc hear claim fund longer | need | member longer requir credit rather |
| global | call whatev requir preserv open | global | economi promot prosper rule law |
| economi | whatev requir preserv open global | economi | promot prosper rule law thus |
| econom | fund membership reflect accur member | econom | weight global economi fund constitut |
| global | reflect accur member econom weight | global | economi fund constitut articl agreement |
| economi | accur member econom weight global | economi | fund constitut articl agreement proscrib |
| countri | durabl consensus protect voic lowincom | countri | aim reach agreement annual meet |
| also | annual meet spring meet latest | also | revamp oper work today world |
| polici | world fund relat member focus | polici | discuss order help preserv econom |
| econom | polici discuss order help preserv | econom | financi stabil three dimens first |
| countri | legal framework analysi fund member | countri | polici activ known imf terminolog |
| polici | framework analysi fund member countri | polici | activ known imf terminolog surveil |
| countri | evenhanded assess whether individu member | countri | live oblig intern communiti success |
| global | fund call first foremost preserv | global | system stabil extern stabil fund |
| countri | develop innov way fund bring | countri | togeth order effect better econom |
| econom | countri togeth order effect better | econom | outcom concert action guid principl |
| economi | basi group system region relev | economi | address issu broad import within |
| global | consult address dual challeng sustain | global | growth reduc global imbal consult |
| growth | address dual challeng sustain global | growth | reduc global imbal consult involv |
| global | challeng sustain global growth reduc | global | imbal consult involv five particip |
| polici | arabia us particip develop specif | polici | roadmap individu particip interest fulli |
| global | fulli implement would achiev intend | global | goal third grow role privat |
| countri | capit flow set interlinkag across | countri | sector becom complex complet assess |
| global | sector becom complex complet assess | global | economi simpli infeas without explicit |
| economi | becom complex complet assess global | economi | simpli infeas without explicit integr |
| market | sector analysi ensur remain abreast | market | incorpor financi sector analysi bilater |
| market | creat system weak third gap | market | complet market could creat improv |
| market | weak third gap market complet | market | could creat improv protect risk |
| also | could creat improv protect risk | also | address fund incom model make |
| global | conclud sum key messag financi | global | innov brought great benefit global |
| global | global innov brought great benefit | global | economi treat forc fear howev |
| economi | innov brought great benefit global | economi | treat forc fear howev old |
| global | howev old way understand linkag | global | economi financi market becom rapid |
| economi | old way understand linkag global | economi | financi market becom rapid outmod |
| market | understand linkag global economi financi | market | becom rapid outmod requir adapt |
| econom | prosper lie work togeth increas | econom | tie within region rest world |
| global | region particular well place benefit | global | rich democrat histori general strong |
| global | work togeth region compet effect | global | economi region alreadi proven adept |
| economi | togeth region compet effect global | economi | region alreadi proven adept seiz |
| market | develop thrive tourism sector broaden | market | new visitor asia eastern europ |
| growth | asia eastern europ cours import | growth | tourism also benefit sector economi |
| also | europ cours import growth tourism | also | benefit sector economi success transform |
| economi | growth tourism also benefit sector | economi | success transform manufactur agricultur sector |
| also | sector continu region collabor integr | also | help overcom limit vulner inher |
| economi | inher relat small size individu | economi | continu progress toward common caribbean |
| market | continu progress toward common caribbean | market | allow small economi pool resourc |
| economi | common caribbean market allow small | economi | pool resourc provid local firm |
| market | provid local firm access larger | market | key foundat boost effici sustain |
| growth | foundat boost effici sustain dynam | growth | experi elsewher show region integr |
| also | experi elsewher show region integr | also | strengthen abil countri cope negat |
| countri | region integr also strengthen abil | countri | cope negat shock particular relev |
| economi | know impact shock devast singl | economi | connect reform still quit rigid |
| market | still quit rigid local labor | market | remain prioriti make economi dynam |
| economi | labor market remain prioriti make | economi | dynam flexibl resili region alreadi |
| polici | front work togeth close coordin | polici | present global unit group exampl |
| global | togeth close coordin polici present | global | unit group exampl alreadi start |
| polici | alreadi start consult best coordin | polici | financi area crossbord flow linkag |
| econom | term increas credit flow invest | econom | opportun also demonstr polici challeng |
| also | credit flow invest econom opportun | also | demonstr polici challeng integr bring |
| polici | invest econom opportun also demonstr | polici | challeng integr bring case need |
| need | polici challeng integr bring case | need | harmon regul coordin issu crossbord |
| also | destabil flow revers region integr | also | offer great opportun learn other |
| countri | look ahead import area collabor | countri | coordin common approach tax incent |
| countri | process prime goal work help | countri | seiz opportun afford global guard |
| global | help countri seiz opportun afford | global | guard risk provid macroeconom polici |
| polici | global guard risk provid macroeconom | polici | advic capac build relev adjust |
| polici | emphasi region surveil bring analysi | polici | advic bear issu region import |
| global | region integr effort compet effect | global | market place job invest therebi |
| market | integr effort compet effect global | market | place job invest therebi provid |
| growth | invest therebi provid basi faster | growth | improv live standard imf look |
| economi | envi long summer day world | economi | enjoy kind extend summer expans |
| growth | alreadi given us best season | growth | stabil sinc seem like continu |
| econom | monetari fund part job scan | econom | horizon identifi cloud bigger man |
| also | clear enough unlik weathermen predict | also | prevent storm spirit would like |
| econom | would like offer today thought | econom | financi market issu import canada |
| market | offer today thought econom financi | market | issu import canada import global |
| global | market issu import canada import | global | economi canada high success particip |
| economi | issu import canada import global | economi | canada high success particip global |
| global | economi canada high success particip | global | economi growth past decad exceed |
| economi | canada high success particip global | economi | growth past decad exceed unit |
| growth | high success particip global economi | growth | past decad exceed unit state |
| growth | competit world canada build success | growth | product technolog need continu adapt |
| need | build success growth product technolog | need | continu adapt make sure invest |
| market | bank alreadi sound well capit | market | highyield bond ventur capit develop |
| econom | sector could even stronger engin | econom | growth canada improv competit bank |
| growth | could even stronger engin econom | growth | canada improv competit bank system |
| countri | regul secur canada current g | countri | without common secur regul canada |
| polici | common secur regul would good | polici | would conduc mutual recognit secur |
| countri | conduc mutual recognit secur regul | countri | includ unit state take ad |
| economi | signific given import unit state | economi | canada estim percent chang u |
| global | rang turn discuss current situat | global | economi let therefor begin unit |
| economi | turn discuss current situat global | economi | let therefor begin unit state |
| econom | begin unit state believ u | econom | prospect good expect u economi |
| economi | econom prospect good expect u | economi | regain momentum gradual drag current |
| market | quarter year situat u hous | market | remain ambigu two import piec |
| market | recent month effect general financi | market | condit seem limit far global |
| global | market condit seem limit far | global | perspect last year seen signific |
| growth | seen signific broaden pattern world | growth | seen reviv europ japan continu |
| growth | confid rise unemploy fall europ | growth | remain solid japan first quarter |
| global | grow import china india engin | global | growth see trend continu growth |
| growth | import china india engin global | growth | see trend continu growth china |
| growth | global growth see trend continu | growth | china like around percent growth |
| growth | growth china like around percent | growth | india like around percent countri |
| countri | growth india like around percent | countri | impli continu strong growth global |
| growth | percent countri impli continu strong | growth | global econom success also found |
| global | countri impli continu strong growth | global | econom success also found good |
| econom | impli continu strong growth global | econom | success also found good macroeconom |
| also | strong growth global econom success | also | found good macroeconom polici includ |
| polici | success also found good macroeconom | polici | includ fiscal consolid mani countri |
| countri | polici includ fiscal consolid mani | countri | canada good exampl mid serious |
| econom | debt percentag point gdp canada | econom | success mani industri countri also |
| countri | canada econom success mani industri | countri | also base flexibl forwardlook monetari |
| also | econom success mani industri countri | also | base flexibl forwardlook monetari framework |
| growth | real interest rate support higher | growth | someon said liberti price credibl |
| polici | ago european central bank rais | polici | rate bank canada also signal |
| also | rais polici rate bank canada | also | signal concern increas inflat risk |
| need | increas inflat risk indic may | need | rais rate near futur global |
| global | need rais rate near futur | global | economi posit preemptiv action contain |
| economi | rais rate near futur global | economi | posit preemptiv action contain inflat |
| market | import may signific implic financi | market | issu would like talk today |
| growth | issu would like talk today | growth | dynam capit market contribut great |
| market | talk today growth dynam capit | market | contribut great prosper recent year |
| countri | upsurg product financi sector mani | countri | unit state unit kingdom acknowledg |
| growth | sector canada could support product | growth | mani countri also work make |
| countri | could support product growth mani | countri | also work make capit market |
| also | support product growth mani countri | also | work make capit market effici |
| market | countri also work make capit | market | effici flexibl global economi also |
| global | make capit market effici flexibl | global | economi also becom substanti integr |
| economi | capit market effici flexibl global | economi | also becom substanti integr financi |
| also | market effici flexibl global economi | also | becom substanti integr financi global |
| global | also becom substanti integr financi | global | measur sum gross extern asset |
| countri | mid dramat increas occur highincom | countri | acceler sinc mid fund calcul |
| countri | asset liabil percent gdp lowincom | countri | Â ½ time gdp middleincom |
| countri | Â ½ time gdp middleincom | countri | Â ½ time gdp highincom |
| countri | Â ½ time gdp highincom | countri | financi global mani good effect |
| global | time gdp highincom countri financi | global | mani good effect given global |
| global | global mani good effect given | global | saver wider pool invest choos |
| market | given borrow access much broader | market | save lower cost capit case |
| market | case encourag develop local capit | market | financi sector especi flow taken |
| market | concern attitud risk area financi | market | face appear greater willing take |
| market | greater willing take risk financi | market | motiv part search yield part |
| polici | one concern whether shift monetari | polici | major economi produc signific chang |
| economi | whether shift monetari polici major | economi | produc signific chang willing accept |
| market | chang willing accept risk play | market | howev less concern general shift |
| market | general shift risk prefer place | market | still seem unduli complac risk |
| market | take risk underestim extent risk | market | particip reckless disregard risk other |
| market | subprim alta part u mortgag | market | interpret way mani borrow market |
| market | market interpret way mani borrow | market | appear confid hous price would |
| growth | complac credit risk rapid develop | growth | risktransf market global issuanc loan |
| market | risk rapid develop growth risktransf | market | global issuanc loan secur expand |
| global | rapid develop growth risktransf market | global | issuanc loan secur expand around |
| countri | natur influenc bank behavior mani | countri | unit state bank willing lend |
| market | price receiv loan sell secur | market | new risk transfer market enhanc |
| market | secur market new risk transfer | market | enhanc financi stabil holder risk |
| also | risk fulli understand manag prudent | also | system question yet good answer |
| market | credit risk transfer securit loan | market | hold credit cycl turn sharpli |
| market | becom common second know individu | market | particip increas sophist risk hedg |
| need | whole disappear busi kind suggest | need | care oversight oversight manag much |
| need | overst fact broad consensus around | need | preserv risk diversif innov hedg |
| market | u treasuri assist secretari financi | market | turn polici implic need action |
| polici | assist secretari financi market turn | polici | implic need action two area |
| need | financi market turn polici implic | need | action two area first relianc |
| need | hedg fund oper increas transpar | need | enabl counterparti exercis market disciplin |
| market | transpar need enabl counterparti exercis | market | disciplin effect help regul get |
| market | regul get better pictur go | market | second must adequ intern monitor |
| market | crossbord spillov hedg fund problem | market | disrupt quick identifi address let |
| growth | leader recent summit recent dramat | growth | larg privat equiti buyout financ |
| financ | growth larg privat equiti buyout | financ | rise proport debt risk financi |
| market | trigger reapprais risk would curtail | market | access broad could advers affect |
| growth | broad could advers affect invest | growth | prospect consid deal would therefor |
| economi | possibl system implic broader effect | economi | third issu financi market one |
| market | effect economi third issu financi | market | one particular relev intern monetari |
| market | fund substanti flow capit emerg | market | case develop countri previous receiv |
| countri | capit emerg market case develop | countri | previous receiv signific privat capit |
| also | realloc capit product invest welcom | also | expos countri concern abrupt revers |
| countri | product invest welcom also expos | countri | concern abrupt revers flow sudden |
| countri | occur area investor care recipi | countri | care still recent studi fund |
| countri | recent studi fund suggest recipi | countri | best place reap benefit foreign |
| countri | inflow least like produc instabl | countri | develop financi sector stronger institut |
| polici | sector stronger institut sound macroeconom | polici | open trade system lesson would |
| economi | lesson would draw emerg develop | economi | move quick strengthen financi framework |
| polici | financi framework meantim best macroeconom | polici | respons involv combin reserv accumul |
| need | tighten difficulti find balanc underlin | need | move quick improv financi framework |
| market | financi framework rais number financi | market | issu today growth risktransf market |
| growth | number financi market issu today | growth | risktransf market instrument grow import |
| market | market issu today growth risktransf | market | instrument grow import hedg fund |
| financ | grow import hedg fund debt | financ | privat equiti buyout increas crossbord |
| market | crossbord capit flow case financi | market | develop spur growth potenti derail |
| growth | case financi market develop spur | growth | potenti derail extend summer growth |
| growth | growth potenti derail extend summer | growth | individu countri broad potenti intern |
| countri | derail extend summer growth individu | countri | broad potenti intern spillov particular |
| global | spillov particular concern fund financi | global | grow deeper risk failur one |
| countri | grow deeper risk failur one | countri | market spill other fund deepen |
| market | deeper risk failur one countri | market | spill other fund deepen work |
| global | other fund deepen work financi | global | issu particular better integr work |
| market | particular better integr work financi | market | financi sector issu macroeconom polici |
| polici | market financi sector issu macroeconom | polici | analysi fund global institut also |
| global | issu macroeconom polici analysi fund | global | institut also forum multilater discuss |
| also | polici analysi fund global institut | also | forum multilater discuss common problem |
| global | role alreadi play success issu | global | payment imbal let know conclud |
| market | comment fund sharpen focus financi | market | issu much learn market particip |
| market | financi market issu much learn | market | particip therefor pleas toronto today |
| also | st gelai kind word would | also | like thank gerald tremblay mayor |
| countri | surveil way monitor assess member | countri | economi chang make first major |
| economi | way monitor assess member countri | economi | chang make first major revis |
| polici | framework year first ever comprehens | polici | statement surveil new decis reflect |
| polici | work monitor member exchang rate | polici | domest econom polici reaffirm surveil |
| econom | member exchang rate polici domest | econom | polici reaffirm surveil focus core |
| polici | exchang rate polici domest econom | polici | reaffirm surveil focus core mandat |
| countri | focus core mandat name promot | countri | extern stabil give clear guidanc |
| polici | guidanc member run exchang rate | polici | accept intern communiti three exist |
| market | desir interven foreign exchang rate | market | decis add fourth principl member |
| polici | principl member avoid exchang rate | polici | result extern instabl surveil polici |
| polici | polici result extern instabl surveil | polici | base framework agre member felt |
| need | bring key activ date updat | need | decis address develop challeng stabil |
| countri | taken broad support includ industri | countri | emerg economi develop countri breadth |
| economi | support includ industri countri emerg | economi | develop countri breadth support tell |
| countri | industri countri emerg economi develop | countri | breadth support tell demonstr broad |
| also | member core cooper institut progress | also | help us move forward element |
| global | member meet challeng st centuri | global | speak french minut continu english |
| global | let say someth general state | global | economi sum intern monetari fund |
| economi | say someth general state global | economi | sum intern monetari fund view |
| global | intern monetari fund view word | global | economi remark strong last five |
| economi | monetari fund view word global | economi | remark strong last five year |
| growth | world experienc run high stabl | growth | low inflat better compar period |
| global | inflat better compar period sinc | global | economi enjoy period growth stabil |
| economi | better compar period sinc global | economi | enjoy period growth stabil despit |
| growth | sinc global economi enjoy period | growth | stabil despit mani concern futur |
| econom | flag program meet intern tension | econom | imbal threat sometim practic terror |
| economi | volatil energi price strength world | economi | rest mani factor built technolog |
| countri | manag practic ad product mani | countri | also reflect broaden base global |
| also | practic ad product mani countri | also | reflect broaden base global output |
| global | countri also reflect broaden base | global | output meant larg particip global |
| global | global output meant larg particip | global | economi lag other abl pick |
| economi | output meant larg particip global | economi | lag other abl pick pace |
| global | other abl pick pace drive | global | growth global econom success also |
| growth | abl pick pace drive global | growth | global econom success also found |
| global | pick pace drive global growth | global | econom success also found good |
| econom | pace drive global growth global | econom | success also found good macroeconom |
| also | global growth global econom success | also | found good macroeconom polici mani |
| polici | success also found good macroeconom | polici | mani countri let singl one |
| countri | found good macroeconom polici mani | countri | let singl one develop particular |
| countri | independ central bank follow exampl | countri | like new zealand canada adopt |
| growth | real interest rate support higher | growth | expect global economi also answer |
| global | rate support higher growth expect | global | economi also answer word expect |
| economi | support higher growth expect global | economi | also answer word expect high |
| also | higher growth expect global economi | also | answer word expect high growth |
| growth | also answer word expect high | growth | low inflat long continu follow |
| polici | inflat long continu follow good | polici | cours alway easi today want |
| polici | easi today want focus challeng | polici | maker face come year make |
| econom | recent made import progress reduc | econom | imbal major economi sustain global |
| economi | progress reduc econom imbal major | economi | sustain global growth visibl aspect |
| global | econom imbal major economi sustain | global | growth visibl aspect problem larg |
| growth | imbal major economi sustain global | growth | visibl aspect problem larg deficit |
| countri | larg surplus extern account certain | countri | includ oil export countri japan |
| countri | certain countri includ oil export | countri | japan major asian emerg market |
| market | countri japan major asian emerg | market | countri especi china under problem |
| countri | japan major asian emerg market | countri | especi china under problem differ |
| growth | differ rate save differ pattern | growth | risk disord adjust global payment |
| global | pattern growth risk disord adjust | global | payment imbal concern long time |
| market | adjust could trigger develop financi | market | investor becom sudden unwil hold |
| global | lead abrupt chang could caus | global | financi market disrupt well econom |
| market | chang could caus global financi | market | disrupt well econom downturn risk |
| econom | global financi market disrupt well | econom | downturn risk immin materi consequ |
| countri | would serious problem risk recogn | countri | involv also broad consensus solut |
| also | problem risk recogn countri involv | also | broad consensus solut greater exchang |
| economi | stimul consumpt major asian emerg | economi | invest larg oil produc strong |
| global | organ multilater consult focus reduc | global | imbal sustain strong global growth |
| global | reduc global imbal sustain strong | global | growth recent spring meet five |
| growth | global imbal sustain strong global | growth | recent spring meet five major |
| economi | recent spring meet five major | economi | particip process china euro area |
| polici | arabia unit state joint set | polici | document circul minist repres fund |
| polici | circul minist repres fund member | polici | plan set particip concret mutual |
| countri | concret mutual consist reflect ownership | countri | concern implement reduc imbal sustain |
| growth | concern implement reduc imbal sustain | growth | process wrap multilater consult report |
| countri | process discuss follow discuss individu | countri | overal outcom alreadi clear new |
| need | use tackl issu multilater solut | need | found common problem cours plan |
| countri | common problem cours plan particip | countri | set need implement far indic |
| need | cours plan particip countri set | need | implement far indic good two |
| growth | foreign direct invest saudi arabia | growth | public expenditur key area schedul |
| countri | momentum chang fund monitor implement | countri | plan regular consult member economi |
| economi | countri plan regular consult member | economi | work need done particip multilater |
| need | regular consult member economi work | need | done particip multilater consult organ |
| countri | organ fund point way forward | countri | concern take let turn trade |
| countri | turn trade reform interest mani | countri | solut problem global econom imbal |
| global | interest mani countri solut problem | global | econom imbal increas concern anoth |
| econom | mani countri solut problem global | econom | imbal increas concern anoth immedi |
| global | trade reform essenti maintain momentum | global | econom growth multilater trade liber |
| econom | reform essenti maintain momentum global | econom | growth multilater trade liber enorm |
| growth | essenti maintain momentum global econom | growth | multilater trade liber enorm stimulus |
| global | multilater trade liber enorm stimulus | global | growth contribut tripl world trade |
| growth | trade liber enorm stimulus global | growth | contribut tripl world trade last |
| countri | billion dollar annual gdp trade | countri | period ambiti doha round agreement |
| need | promot multilater leadership major player | need | achiev develop countri led european |
| countri | major player need achiev develop | countri | led european union unit state |
| also | barrier domest agricultur subsidi other | also | provid dutyfre quotafre access good |
| countri | dutyfre quotafre access good leastdevelop | countri | part major emerg develop countri |
| countri | countri part major emerg develop | countri | must make major liber commit |
| market | make major liber commit nonagricultur | market | access trade servic develop countri |
| countri | market access trade servic develop | countri | reason agre liber agricultur also |
| also | countri reason agre liber agricultur | also | import multilater talk sidelin fals |
| global | agreement whether balanc add subtract | global | welfar broad consensus moment proper |
| also | adequ substitut multilater trade reform | also | concern motiv behind bilater agreement |
| countri | concern motiv behind bilater agreement | countri | seem favor mean tighten control |
| countri | industri bilater agreement agre multilater | countri | drag process fear left network |
| global | kind collect action problem devast | global | economi led creation gatt subsequ |
| economi | collect action problem devast global | economi | led creation gatt subsequ world |
| countri | conclus would draw best thing | countri | use good intern institut trade |
| also | polit step conclud doha round | also | recogn mani peopl around world |
| global | popular part broader skeptic benefit | global | concern implic global inequ global |
| global | skeptic benefit global concern implic | global | inequ global continu go forward |
| global | global concern implic global inequ | global | continu go forward carri mani |
| need | forward carri mani benefit concern | need | taken serious mani good polit |
| global | absolut poverti nanci birdsal center | global | develop also made persuas case |
| also | nanci birdsal center global develop | also | made persuas case econom reason |
| econom | develop also made persuas case | econom | reason concern high level inequ |
| global | titl world flat inequ injustic | global | economi ms birdsal argu inequ |
| economi | world flat inequ injustic global | economi | ms birdsal argu inequ inhibit |
| growth | ms birdsal argu inequ inhibit | growth | market underdevelop also harm countri |
| market | birdsal argu inequ inhibit growth | market | underdevelop also harm countri econom |
| also | inequ inhibit growth market underdevelop | also | harm countri econom prospect lead |
| countri | growth market underdevelop also harm | countri | econom prospect lead econom social |
| econom | market underdevelop also harm countri | econom | prospect lead econom social polici |
| econom | harm countri econom prospect lead | econom | social polici inhibit growth poverti |
| polici | econom prospect lead econom social | polici | inhibit growth poverti reduct event |
| growth | lead econom social polici inhibit | growth | poverti reduct event fit give |
| econom | give exampl particular relev america | econom | inequ grew much latin america |
| growth | world unequ area import promot | growth | global effect inequ america also |
| global | unequ area import promot growth | global | effect inequ america also seen |
| also | growth global effect inequ america | also | seen tendenc produc bad polici |
| polici | also seen tendenc produc bad | polici | exampl populist program financ increas |
| financ | bad polici exampl populist program | financ | increas fiscal deficit often dissolv |
| also | leader interest make social chang | also | awar import macroeconom stabil number |
| also | benefici poor may scope strengthen | also | structur area reform would help |
| also | reform would help reduc inequ | also | help countri reap benefit global |
| countri | help reduc inequ also help | countri | reap benefit global let give |
| global | also help countri reap benefit | global | let give two exampl labor |
| market | let give two exampl labor | market | constraint often block employ growth |
| growth | market constraint often block employ | growth | formal sector protect relat better |
| market | avail formal employ reduct labor | market | rigid tax wedg would increas |
| also | would increas employ formal sector | also | increas product improv qualiti educ |
| also | link teacher salari perform could | also | help shift cost recoveri financi |
| also | support within educ sector could | also | help reduc inequ exampl larg |
| global | rural area made case reduc | global | imbal matter trade reform matter |
| need | let emphas anoth import challeng | need | improv qualiti institut public institut |
| market | qualiti institut public institut financi | market | institut fund recent complet studi |
| countri | institut fund recent complet studi | countri | need reap benefit financi global |
| need | fund recent complet studi countri | need | reap benefit financi global increas |
| global | countri need reap benefit financi | global | increas volum crossbord financi hold |
| global | volum crossbord financi hold financi | global | potenti reduc incom volatil enabl |
| countri | citizen diversifi financi hold outsid | countri | also rais growth allow capit |
| also | diversifi financi hold outsid countri | also | rais growth allow capit world |
| growth | hold outsid countri also rais | growth | allow capit world flow place |
| countri | much like realiz financi framework | countri | receiv flow strong financi global |
| global | countri receiv flow strong financi | global | least like produc instabl countri |
| countri | global least like produc instabl | countri | develop financi sector stronger institut |
| polici | sector stronger institut sound macroeconom | polici | open trade system also evid |
| also | macroeconom polici open trade system | also | evid financi integr like lead |
| growth | financi integr like lead higher | growth | countri attribut result interest come |
| countri | integr like lead higher growth | countri | attribut result interest come surpris |
| countri | surpris long time fund urg | countri | move exact polici direct impli |
| polici | fund urg countri move exact | polici | direct impli find underlin need |
| need | polici direct impli find underlin | need | emerg develop countri develop strong |
| countri | find underlin need emerg develop | countri | develop strong financi system continu |
| polici | financi system continu sound macroeconom | polici | suggest need urgent countri current |
| need | continu sound macroeconom polici suggest | need | urgent countri current experienc substanti |
| countri | macroeconom polici suggest need urgent | countri | current experienc substanti capit inflow |
| econom | high level remitt effect institut | econom | life evid world montreal one |
| global | citi america exemplifi posit impact | global | situat countri strong financi sector |
| countri | exemplifi posit impact global situat | countri | strong financi sector excel public |
| polici | excel public institut sound macroeconom | polici | open economi surpris canada beneficiari |
| economi | institut sound macroeconom polici open | economi | surpris canada beneficiari global economi |
| global | open economi surpris canada beneficiari | global | economi great shape high growth |
| economi | economi surpris canada beneficiari global | economi | great shape high growth low |
| growth | global economi great shape high | growth | low inflat unemploy rate near |
| global | minist harper expand canada influenc | global | econom policymak strengthen tie canada |
| econom | harper expand canada influenc global | econom | policymak strengthen tie canada caribbean |
| financ | tie canada caribbean latin america | financ | minist flaherti steer economi wise |
| economi | america financ minist flaherti steer | economi | wise prudent cannot let moment |
| econom | januari tenur governor mark remark | econom | stabil growth face mani problem |
| growth | governor mark remark econom stabil | growth | face mani problem disrupt global |
| global | growth face mani problem disrupt | global | stock market fall global commod |
| market | mani problem disrupt global stock | market | fall global commod boom previous |
| global | disrupt global stock market fall | global | commod boom previous job deputi |
| financ | commod boom previous job deputi | financ | minist mr dodg also play |
| also | deputi financ minist mr dodg | also | play import part set canada |
| also | frenzel long friend fund would | also | like thank jim orr work |
| global | situat intern monetari fund financi | global | subject world torrent chang tri |
| need | continu provid public good membership | need | path believ fund take goal |
| global | member address challeng st centuri | global | need fund attent challeng member |
| need | address challeng st centuri global | need | fund attent challeng member face |
| need | evenhand advic fair represent member | need | appli principl chang make fund |
| financ | main area work reform govern | financ | would like concentr most today |
| economi | concentr most today surveil member | economi | global economi core mandat fund |
| global | most today surveil member economi | global | economi core mandat fund begin |
| economi | today surveil member economi global | economi | core mandat fund begin talk |
| need | fund begin talk attent member | need | attent requir minimum two thing |
| polici | set decis surveil exchang rate | polici | work review well advanc execut |
| countri | task exchang rate key link | countri | economi develop exchang market often |
| economi | exchang rate key link countri | economi | develop exchang market often lead |
| market | link countri economi develop exchang | market | often lead indic econom problem |
| econom | exchang market often lead indic | econom | problem econom relat countri becom |
| econom | often lead indic econom problem | econom | relat countri becom disord exchang |
| countri | indic econom problem econom relat | countri | becom disord exchang rate move |
| countri | move abrupt often terribl consequ | countri | maintain exchang rate sustain period |
| polici | crisi rate overvalu either case | polici | like result misalloc invest partner |
| countri | like result misalloc invest partner | countri | well thing sinc second amend |
| need | exchang rate alway exchang rate | need | chang sometim domest polici need |
| polici | rate need chang sometim domest | polici | need chang make exchang rate |
| need | need chang sometim domest polici | need | chang make exchang rate sustain |
| polici | sustain often exchang rate domest | polici | need chang cours alway look |
| need | often exchang rate domest polici | need | chang cours alway look exchang |
| polici | cours alway look exchang rate | polici | drive pay special attent exchang |
| polici | pay special attent exchang rate | polici | intervent relat polici see major |
| polici | exchang rate polici intervent relat | polici | see major defici decis noth |
| polici | major defici decis noth say | polici | exchang rate polici time fund |
| polici | noth say polici exchang rate | polici | time fund must preserv focus |
| polici | limit risk stem exchang rate | polici | new decis most would reflect |
| also | one thing anoth revis decis | also | opportun reassert member common understand |
| countri | mind expect fund staff member | countri | anoth aspect attent identifi respond |
| global | innov way fund done issu | global | econom imbal know first multilater |
| econom | way fund done issu global | econom | imbal know first multilater consult |
| global | first multilater consult focus reduc | global | imbal sustain strong global growth |
| global | reduc global imbal sustain strong | global | growth recent spring meet five |
| growth | global imbal sustain strong global | growth | recent spring meet five particip |
| polici | arabia unit state joint set | polici | document circul minist repres fund |
| polici | repres fund member signific develop | polici | plan set particip concret mutual |
| growth | consist implement reduc imbal sustain | growth | fact particip countri agre put |
| countri | imbal sustain growth fact particip | countri | agre put forward polici discuss |
| polici | particip countri agre put forward | polici | discuss multilater set show recognit |
| global | discuss multilater set show recognit | global | natur problem show commit multilater |
| market | area must deepen work financi | market | financi system specif need better |
| need | financi market financi system specif | need | better integr work financi sector |
| also | financi sector work macroeconom issu | also | need deepen analysi spillov countri |
| need | sector work macroeconom issu also | need | deepen analysi spillov countri market |
| countri | also need deepen analysi spillov | countri | market need best analysi exchang |
| market | need deepen analysi spillov countri | market | need best analysi exchang rate |
| need | deepen analysi spillov countri market | need | best analysi exchang rate alreadi |
| polici | broaden rang fund invest line | polici | world bank rais averag return |
| financ | resourc current generat incom use | financ | lend sell small proport fund |
| need | hold gold invest proceed recogn | need | disrupt gold market committe urg |
| market | proceed recogn need disrupt gold | market | committe urg fund coordin central |
| also | volum offici gold sale committe | also | suggest consid charg servic technic |
| need | make point recommend first fund | need | proper financ fulfil mandat member |
| financ | recommend first fund need proper | financ | fulfil mandat member given institut |
| need | support mediumterm strategi second would | need | new incom model would need |
| need | need new incom model would | need | new model even fund lend |
| financ | fund cannot continu reli lend | financ | public good surveil technic assist |
| need | surveil technic assist consider suggest | need | chang financ model alreadi discuss |
| financ | assist consider suggest need chang | financ | model alreadi discuss member recommend |
| need | issu implement recommend urgent financi | need | resolv incom issu fund plenti |
| polici | make reliabl plan implement agre | polici | third principl set fund must |
| polici | rate candid chile discuss fiscal | polici | unit state firm direct discuss |
| also | discuss budget unit arab emir | also | crucial fund legitimaci member believ |
| countri | govern structur aim increas represent | countri | whose econom weight increas recent |
| econom | aim increas represent countri whose | econom | weight increas recent year also |
| also | econom weight increas recent year | also | protect voic represent lowincom countri |
| countri | also protect voic represent lowincom | countri | began first round quota increas |
| market | last year four dynam emerg | market | china mexico korea turkey current |
| countri | basic vote safeguard posit lowincom | countri | next challeng reach agreement new |
| global | appropri captur relat posit member | global | economi also agreement reform result |
| economi | captur relat posit member global | economi | also agreement reform result higher |
| also | relat posit member global economi | also | agreement reform result higher share |
| economi | reform result higher share dynam | economi | mani emerg market economi whose |
| market | share dynam economi mani emerg | market | economi whose weight role global |
| economi | dynam economi mani emerg market | economi | whose weight role global economi |
| global | market economi whose weight role | global | economi increas object remain agre |
| economi | economi whose weight role global | economi | increas object remain agre new |
| need | time come peopl make case | need | chang like secur talk today |
| market | design new instrument support emerg | market | would provid mechan countri commit |
| countri | emerg market would provid mechan | countri | commit sound polici make highaccess |
| polici | provid mechan countri commit sound | polici | make highaccess financ avail advers |
| financ | commit sound polici make highaccess | financ | avail advers shock talk work |
| countri | advers shock talk work lowincom | countri | say fund certain continu engag |
| countri | fund certain continu engag lowincom | countri | focus critic macroeconom financi area |
| also | best make greatest contribut must | also | continu work partnership world bank |
| need | member face focus time innov | need | must resourc help member meet |
| also | someth requir give evenhand advic | also | fair represent reform quota hold |
| countri | wood committe recogn import dialogu | countri | use institut like fund bank |
| global | strong intern institut even essenti | global | continu ask support fund month |
| countri | start unfold south east asia | countri | region left untouch aftereffect reverber |
| global | left untouch aftereffect reverber across | global | economi year anniversari crisi provid |
| economi | untouch aftereffect reverber across global | economi | year anniversari crisi provid opportun |
| polici | happen key moment formul appropri | polici | action set doubt sound financi |
| countri | rate crippl balancesheet effect crisisstruck | countri | privat demand collaps output affect |
| economi | privat demand collaps output affect | economi | contract quick sharpli previous strong |
| econom | social safeti net protect expos | econom | disrupt exacerb social econom impact |
| econom | expos econom disrupt exacerb social | econom | impact slump privat creditor stamped |
| financ | communiti work fund provid substanti | financ | time govern region adjust polici |
| polici | financ time govern region adjust | polici | increas take strong appropri action |
| also | increas take strong appropri action | also | step taken involv privat sector |
| financ | taken involv privat sector provid | financ | initi adjust approach turn tide |
| global | todayten year asia dynam region | global | economi rather withdraw global asia |
| economi | year asia dynam region global | economi | rather withdraw global asia continu |
| global | region global economi rather withdraw | global | asia continu embrac learn right |
| global | decad gear equip region benefit | global | cope better attend risk especi |
| polici | key today success stronger macroeconom | polici | framework comprehens reform financi corpor |
| countri | flexibl exchang rate regim mani | countri | provid cushion extern shock substanti |
| polici | monetari anchor mani case fiscal | polici | taken longerterm perspect safeguard debt |
| global | asia cope well two bout | global | financi turbul albeit quit modest |
| also | quit modest one signific reform | also | undertaken region level polici cooper |
| polici | reform also undertaken region level | polici | cooper gain traction crisi perhap |
| economi | purpos imf part work close | economi | region reform program past decad |
| polici | increas done part fund normal | polici | dialogu countri includ new transpar |
| countri | part fund normal polici dialogu | countri | includ new transpar financi sector |
| also | new transpar financi sector initi | also | imf support various region initi |
| econom | immedi outlook region continu strong | econom | growth support continu trend global |
| growth | outlook region continu strong econom | growth | support continu trend global expans |
| global | econom growth support continu trend | global | expans ever risk nearterm outlook |
| countri | longer run prioriti differ across | countri | common theme stand cope global |
| global | countri common theme stand cope | global | har benefit deliv focus four |
| growth | deliv focus four issu rebalanc | growth | cope volatil capit inflow adjust |
| need | increas inequ rebalanc growthlet start | need | rebal growth asia continu reli |
| growth | rebalanc growthlet start need rebal | growth | asia continu reli heavili net |
| econom | reli heavili net export engin | econom | expans reflect high rate export |
| growth | expans reflect high rate export | growth | continu larg current account surplus |
| need | time greater relianc domest demand | need | assur balanc sustain pattern growth |
| growth | need assur balanc sustain pattern | growth | asia share global export rise |
| global | sustain pattern growth asia share | global | export rise sustain high rate |
| growth | rise sustain high rate export | growth | becom increas difficult region exclud |
| need | longer larg attribut transit difficulti | need | bank corpor restructur though evid |
| financ | sector still find difficult obtain | financ | anoth explan sometim offer china |
| countri | china divert invest away asian | countri | howev formal studi unabl find |
| also | mani way actual risk reduc | also | shift manufactur toward less capit |
| polici | deepen financi system enhanc macroeconom | polici | framework progress area serv bolster |
| growth | bolster invest therebi rebal sustain | growth | china face differ problem invest |
| need | corpor sector grown even faster | need | china therefor reduc relianc rapid |
| growth | therefor reduc relianc rapid invest | growth | well net export encourag consumpt |
| need | area improv financi intermedi urgent | need | help strengthen consumpt greater exchang |
| also | consumpt greater exchang rate flexibl | also | need give monetari polici scope |
| need | greater exchang rate flexibl also | need | give monetari polici scope reign |
| polici | flexibl also need give monetari | polici | scope reign rapid credit growth |
| growth | polici scope reign rapid credit | growth | constrain excess invest reform financi |
| also | invest reform financi corpor sector | also | import help improv qualiti invest |
| growth | invest quantiti reduc process rebalanc | growth | region like accompani appreci real |
| countri | limit flexibl china make difficult | countri | allow exchang rate strengthen reflect |
| also | substanti reserv buildup case expens | also | creat difficulti monetari manag respond |
| need | product tradeturn second challeng asia | need | continu adapt shift pattern product |
| global | pattern product export around region | global | develop complex suppli chain region |
| countri | rest world part process product | countri | region move valu ad chain |
| economi | adapt type challeng increas flexibl | economi | remain competit respons develop capit |
| market | remain competit respons develop capit | market | greater labor market flexibl measur |
| market | develop capit market greater labor | market | flexibl measur improv busi climat |
| polici | measur improv busi climat educ | polici | role play cope volatil capit |
| global | flow increas financi integr region | global | level bring mani potenti benefit |
| financ | potenti benefit includ diversif sourc | financ | risk share howev one issu |
| countri | howev one issu offici mani | countri | current grappl deal surg capit |
| countri | resid asian invest outsid home | countri | natur part asia grow financi |
| global | part asia grow financi integr | global | economi well increas scale gross |
| economi | asia grow financi integr global | economi | well increas scale gross capit |
| also | scale gross capit flow region | also | becom volatil particular concern surg |
| also | circumv reimpos previous liber system | also | circumst control creat doubt futur |
| polici | control creat doubt futur direct | polici | potenti discourag foreign direct invest |
| global | inflow seem time featur financi | global | magic bullet deal best shortrun |
| polici | magic bullet deal best shortrun | polici | respons appear combin exchang rate |
| market | term step develop deepen financi | market | includ context region financi integr |
| also | includ context region financi integr | also | help liber restrict outflow warrant |
| market | restrict outflow warrant pace financi | market | reform also support deeper integr |
| also | warrant pace financi market reform | also | support deeper integr potenti offset |
| economi | asia skilledbia technic progress advanc | economi | transit agricultur industri develop one |
| global | forc shape incom distribut region | global | cours provid broader context chang |
| econom | social implic worsen inequ concern | econom | policymak unattend grow dispar could |
| global | social cohes undermin support engag | global | economi spite great potenti benefit |
| economi | cohes undermin support engag global | economi | spite great potenti benefit asian |
| countri | trend specif measur depend individu | countri | circumst case need support sound |
| need | depend individu countri circumst case | need | support sound macroeconom manag necessari |
| growth | sound macroeconom manag necessari sustain | growth | hold greatest promis lift poor |
| polici | poverti provid better opportun disadvantag | polici | also need address inequ direct |
| also | provid better opportun disadvantag polici | also | need address inequ direct includ |
| need | better opportun disadvantag polici also | need | address inequ direct includ greater |
| also | educ infrastructur especi poorer area | also | includ mani reform alreadi mention |
| market | strengthen social safeti net labor | market | reform facilit hire greater access |
| market | facilit hire greater access financi | market | empow poor improv econom effici |
| econom | financi market empow poor improv | econom | effici sinc old tend poorer |
| also | fiscal impact rapid popul age | also | help redress incom inequ sever |
| countri | help redress incom inequ sever | countri | conclud ten year major financi |
| economi | posit ever greater forc world | economi | encourag polici increas attun quicken |
| polici | greater forc world economi encourag | polici | increas attun quicken pace global |
| global | polici increas attun quicken pace | global | although challeng remain larg reform |
| global | must continu process today fastpac | global | economi part imf continu work |
| economi | continu process today fastpac global | economi | part imf continu work close |
| economi | part imf continu work close | economi | region help move forward reform |
| econom | gentlemen honor abl discuss hungari | econom | achiev prospect group expert purpos |
| market | european economyhungari leader transit plan | market | economi thus hungari integr european |
| economi | economyhungari leader transit plan market | economi | thus hungari integr european communiti |
| market | last fall present analysi financi | market | percept eu new member state |
| countri | spread foreign currenc borrow group | countri | consist lower emerg market similar |
| market | group countri consist lower emerg | market | similar under fundament hungari share |
| market | basi point less similar emerg | market | like explan advantag european union |
| market | delay euro adopt testimoni confid | market | particip view hungari mediumterm prospect |
| market | associ accumul extern debt current | market | condit base appar favor consensus |
| global | base appar favor consensus outlook | global | econom condit intern capit market |
| econom | appar favor consensus outlook global | econom | condit intern capit market fair |
| market | global econom condit intern capit | market | fair toler variat fiscal disciplin |
| market | variat fiscal disciplin particular intern | market | recent year remain relat patient |
| market | rise doubl digit percent gdp | market | risk avers heighten threat crisi |
| also | turbul howev forint bond price | also | strengthen fortuit parallel improv global |
| global | also strengthen fortuit parallel improv | global | market risk appetit illus doubt |
| market | strengthen fortuit parallel improv global | market | risk appetit illus doubt reemerg |
| global | fiscal consolid current consensus optim | global | outlook weaken financi pressur could |
| polici | deal fiscal challeng remain key | polici | prioriti budgetari polici central influenc |
| polici | remain key polici prioriti budgetari | polici | central influenc virtual everi aspect |
| economi | influenc virtual everi aspect hungarian | economi | lower deficit public debt reduc |
| polici | privat initi consist predict fiscal | polici | import underpin predict monetari polici |
| polici | polici import underpin predict monetari | polici | regard clear ongo fiscal consolid |
| need | done howev sustain deficit control | need | moment appropri lay foundat fundament |
| polici | lay foundat fundament reorient budget | polici | reliabl fiscal disciplin togeth effect |
| growth | system pay dividend foster faster | growth | greater econom flexibl element need |
| econom | dividend foster faster growth greater | econom | flexibl element need put hungarian |
| need | growth greater econom flexibl element | need | put hungarian economi success path |
| economi | flexibl element need put hungarian | economi | success path open option eventu |
| polici | import question still remain regard | polici | plan beyond goal converg program |
| countri | gdp larg relat size govern | countri | similar level develop experi elsewher |
| growth | expendituretogdp ratio percent associ stronger | growth | task futur fiscal polici reform |
| polici | stronger growth task futur fiscal | polici | reform underestim achiev restructur would |
| polici | effici greater transpar predict fiscal | polici | tighter procedur context welcom govern |
| polici | recent recept extern scrutini fiscal | polici | independ council recogn also consider |
| also | fiscal polici independ council recogn | also | consider pressur reduc tax rate |
| economi | tax base tend shrink black | economi | tax reform also would improv |
| also | shrink black economi tax reform | also | would improv incent employ growth |
| growth | also would improv incent employ | growth | regard lower labor tax rais |
| economi | vision hungari futur vibrant innov | economi | one draw widelyrecogn hungarian trait |
| countri | converg live standard advanc european | countri | vision inclus effect social safeti |
| global | secur advanc task direct clear | global | environ except favor intern market |
| market | global environ except favor intern | market | newli optimist hungari prospect moment |
| econom | morn pleasur opportun particip brussel | econom | forum first time first deputi |
| global | today fellow panelist address issu | global | imbal topic generat substanti endur |
| global | watch stabil sustain smooth expans | global | economi emerg recent year record |
| economi | stabil sustain smooth expans global | economi | emerg recent year record intern |
| growth | payment imbal wide perceiv threat | growth | stabil m go tri put |
| global | result far imfsponsor multilater consult | global | imbal consult conven order shape |
| polici | imbal consult conven order shape | polici | agenda would support dual goal |
| global | would support dual goal sustain | global | growth reduc imbal slide cours |
| growth | support dual goal sustain global | growth | reduc imbal slide cours percept |
| global | imbal slide cours percept whether | global | imbal repres concern even surpris |
| econom | two unanticip develop first us | econom | growth surg began recal growth |
| growth | unanticip develop first us econom | growth | surg began recal growth speedup |
| growth | econom growth surg began recal | growth | speedup associ acceler us product |
| growth | product gain rais us potenti | growth | second key factor financi econom |
| econom | growth second key factor financi | econom | convuls shook emerg asia net |
| also | devalu difficulti place like turkey | also | contribut growth diverg slide thus |
| growth | place like turkey also contribut | growth | diverg slide thus imf world |
| econom | diverg slide thus imf world | econom | outlook took note expans us |
| global | moreov consensus assumpt time renew | global | expans includ probabl moder us |
| growth | expans includ probabl moder us | growth | surg would reduc imbal least |
| global | subsequ geopolit event heighten concern | global | outlook may recal post consensus |
| global | outlook may recal post consensus | global | recoveri go weak uncertain uneven |
| global | despit newlypessimist consensus post recoveri | global | growth stronger better balanc anticip |
| growth | newlypessimist consensus post recoveri global | growth | stronger better balanc anticip nonetheless |
| global | anticip nonetheless rather shrink anticip | global | payment imbal reach record high |
| econom | lead grow concern threat impend | econom | financi instabl slide discuss multilater |
| growth | slide first unexpect combin strong | growth | record imbal creat real risk |
| polici | repres mediumterm challeng rather shortterm | polici | emerg fact excess precipit polici |
| polici | polici emerg fact excess precipit | polici | action undertaken sole aim immedi |
| global | reduct imbal could unnecessarili disrupt | global | growth could even undermin financi |
| growth | imbal could unnecessarili disrupt global | growth | could even undermin financi market |
| market | growth could even undermin financi | market | stabil word mediumterm perspect issu |
| polici | policymak take appropri albeit mediumterm | polici | measur could undermin investor confid |
| market | undermin investor confid creat nearterm | market | strain furthermor imf intern monetari |
| polici | advis fund board governor promulg | polici | strategi late second imf multilater |
| global | late second imf multilater consult | global | imbal endors imfc earli recent |
| global | propos imf innov approach address | global | polici challeng multilater consult global |
| polici | imf innov approach address global | polici | challeng multilater consult global imbal |
| global | global polici challeng multilater consult | global | imbal repres someth experi intern |
| polici | imbal repres someth experi intern | polici | coordin hope know alreadi fund |
| global | know alreadi fund multilater consult | global | imbal bring togeth senior monetari |
| econom | imbal bring togeth senior monetari | econom | offici five key global economi |
| global | monetari econom offici five key | global | economi discuss design implement mediumterm |
| economi | econom offici five key global | economi | discuss design implement mediumterm strategi |
| global | implement mediumterm strategi sustain robust | global | growth reduc payment imbal particip |
| growth | mediumterm strategi sustain robust global | growth | reduc payment imbal particip includ |
| global | deficit surplus account larg share | global | output global impact economi financi |
| global | account larg share global output | global | impact economi financi marketsbefor address |
| economi | share global output global impact | economi | financi marketsbefor address progress date |
| global | effort worth make key point | global | impact economi financi market slide |
| economi | make key point global impact | economi | financi market slide first underscor |
| market | point global impact economi financi | market | slide first underscor posit econom |
| econom | market slide first underscor posit | econom | result past five year larg |
| global | larg degre unexpect mani guess | global | growth would averag close per |
| growth | degre unexpect mani guess global | growth | would averag close per annum |
| growth | one look standard deviat chang | growth | rate across countri strike recent |
| countri | deviat chang growth rate across | countri | strike recent period rapid growth |
| growth | countri strike recent period rapid | growth | also mark unpreced cyclic simultan |
| also | strike recent period rapid growth | also | mark unpreced cyclic simultan could |
| global | seem like reflect acceler pace | global | cours simultan make growth payment |
| growth | pace global cours simultan make | growth | payment imbal strike slide overal |
| growth | imbal strike slide overal gdp | growth | becom unusu simultan said compon |
| growth | becom unusu simultan said compon | growth | fact trend toward simultan expans |
| polici | real domest demand dichotomi defin | polici | challeng keep overal global growth |
| global | defin polici challeng keep overal | global | growth strong redress imbal domest |
| growth | polici challeng keep overal global | growth | strong redress imbal domest demand |
| growth | strong redress imbal domest demand | growth | basic strong demand us weak |
| global | disord disrupt possibl destruct rebalanc | global | economi record imbal financ unpreced |
| economi | disrupt possibl destruct rebalanc global | economi | record imbal financ unpreced crossbord |
| financ | rebalanc global economi record imbal | financ | unpreced crossbord capit flow includ |
| market | time ad sens imperman emerg | market | economi remain net capit export |
| economi | ad sens imperman emerg market | economi | remain net capit export sinc |
| growth | sinc late despit except strong | growth | perform risk unfavor outcom shouldn |
| econom | dramat shift capit flow wrench | econom | strain nonetheless rapid marketdriven disord |
| global | imbal avoid basic exist pattern | global | save asset alloc forc financi |
| global | save asset alloc forc financi | global | like suffici resili nonetheless justif |
| need | nonetheless justif complac inact contrari | need | convinc polici action support twin |
| polici | complac inact contrari need convinc | polici | action support twin goal sustain |
| growth | action support twin goal sustain | growth | reduc imbal action appear attain |
| market | flow one reason favor financi | market | condit growth crossbord flow taken |
| growth | reason favor financi market condit | growth | crossbord flow taken place reflect |
| global | defens unwarr exampl two third | global | asset manag particip recent survey |
| global | deloitt touch tohmatsu consid financi | global | improv asset alloc decis slide |
| economi | averag share intern equiti develop | economi | pension fund portfolio grew anywher |
| market | amount us privat asset us | market | financi secur latter measur potenti |
| also | relev issu nearterm sustain imbal | also | relev issu whether mediumterm perspect |
| market | sustain larg inflow us financi | market | also worth note aggreg valu |
| also | larg inflow us financi market | also | worth note aggreg valu us |
| market | point nearterm risk relat financi | market | stabil recent period grow imbal |
| market | imbal reflect part us financi | market | depth slide imf multilater consult |
| global | depth slide imf multilater consult | global | imbalancesa state earlier goal imf |
| global | earlier goal imf multilater consult | global | imbal help posit global economi |
| global | consult global imbal help posit | global | economi adjust path toward durabl |
| economi | global imbal help posit global | economi | adjust path toward durabl credibl |
| growth | durabl credibl pattern domest demand | growth | maintain robust global gdp growth |
| global | domest demand growth maintain robust | global | gdp growth consult launch earli |
| growth | growth maintain robust global gdp | growth | consult launch earli particip togeth |
| polici | explanatori note plus particip individu | polici | plan slide briefli discuss particip |
| growth | nonetheless strengthen sustain domest demand | growth | improv potenti growth euro area |
| growth | domest demand growth improv potenti | growth | euro area make contribut toward |
| global | area make contribut toward improv | global | perform integr transform euro area |
| market | transform euro area european financi | market | provid key impetus improv effici |
| market | improv effici area product servic | market | renew lisbon agenda reform critic |
| market | critic achiev goal includ labor | market | reform fellowpanelist today jeanphilipp coti |
| polici | subject greater detail slide china | polici | commit structur around three cornerston |
| growth | around three cornerston first rebalanc | growth | relat toward consumpt slow invest |
| growth | relat toward consumpt slow invest | growth | improv invest effici second deepen |
| growth | would help strengthen domest demand | growth | improv invest effici increas use |
| polici | invest effici increas use monetari | polici | instrument maintain macroeconom balanc experi |
| polici | easili manag flexibl exchang rate | polici | recent announc new monetari polici |
| polici | polici recent announc new monetari | polici | measur widen daili trade band |
| polici | rmb consist china multilater consult | polici | plan reason anticip clearcut progress |
| polici | plan reason anticip clearcut progress | polici | initi includ china polici plan |
| polici | progress polici initi includ china | polici | plan deputi governor wu peopl |
| also | governor wu peopl bank china | also | panel provid perspect subject remark |
| economi | recent revenu increas relat size | economi | impli adjust process gradual adjust |
| economi | absorpt capac far oil produc | economi | averag spent extra oil revenu |
| countri | revenu increas import variat across | countri | signific saudi arabia take lead |
| growth | effect effort alreadi impress import | growth | saudi arabia averag preced three |
| growth | arabia oil produc help sustain | growth | reduc global imbal slide japan |
| global | produc help sustain growth reduc | global | imbal slide japan deeper structur |
| need | slide japan deeper structur reform | need | improv growth potenti safeguard live |
| growth | deeper structur reform need improv | growth | potenti safeguard live standard reform |
| market | standard reform prioriti increas labor | market | flexibl promot competit greater market |
| market | market flexibl promot competit greater | market | open deepen trade integr recent |
| econom | structur measur catalyz sustain ongo | econom | recoveri consumpt spend invest strengthen |
| also | term trend toward narrow surplus | also | support demograph factor slide lynchpin |
| polici | demograph factor slide lynchpin us | polici | statement multilater consult appropri focus |
| polici | appropri focus rais nation save | polici | incent rais privat sector save |
| also | us save rate would desir | also | believ like outcom next year |
| growth | inflat began increas product potenti | growth | mid recent reduct financi market |
| market | growth mid recent reduct financi | market | volatil slowdown pace asset price |
| global | histor norm slide multilater consult | global | imbal accomplish far first affirm |
| global | affirm pursu dual goal sustain | global | growth reduc imbal share respons |
| growth | pursu dual goal sustain global | growth | reduc imbal share respons also |
| also | growth reduc imbal share respons | also | produc coordin set polici action |
| polici | respons also produc coordin set | polici | action particip consid respect interest |
| polici | respect interest particip agre implement | polici | make signific contribut achiev dual |
| polici | framework includ sustain focus implement | polici | plan regular fund surveil moreov |
| polici | impact five particip multilater consult | polici | plan fund staff conduct simul |
| global | simul subject usual caveat use | global | macroeconom model gem compar effect |
| polici | model gem compar effect five | polici | plan two altern scenario one |
| polici | altern scenario one altern benign | polici | adjust scenario adjust savinginvest balanc |
| also | benchmark purpos call baselin scenario | also | use disrupt adjust scenario involv |
| polici | lead output contract multilater consult | polici | adjust scenario includ particip polici |
| polici | polici adjust scenario includ particip | polici | plan provid stabl endur adjust |
| polici | gem model simul spillov effect | polici | adjust scenario calcul relat effect |
| global | scenario calcul relat effect scenario | global | growth next six year relat |
| growth | calcul relat effect scenario global | growth | next six year relat baselin |
| global | next six year relat baselin | global | growth would virtual unchang first |
| growth | six year relat baselin global | growth | would virtual unchang first three |
| global | follow three year generat increas | global | growth rate per year moreov |
| growth | three year generat increas global | growth | rate per year moreov global |
| global | growth rate per year moreov | global | growth would better balanc mediumterm |
| growth | rate per year moreov global | growth | would better balanc mediumterm onward |
| growth | would grow relat baselin us | growth | would virtual unchang baselin result |
| global | baselin result would signific reduct | global | payment imbal slide conclud slide |
| polici | mediumterm challeng least effect appropri | polici | action boost confid help insur |
| econom | achiev dual goal fund world | econom | outlook baselin econom forecast favor |
| econom | fund world econom outlook baselin | econom | forecast favor propos polici plan |
| polici | baselin econom forecast favor propos | polici | plan extens concret thus appear |
| polici | challeng possibl draw solid conclus | polici | plan implement public multilater consult |
| polici | plan implement public multilater consult | polici | plan allow interest nonoffici observ |
| global | issu rais confer hope offer | global | perspect imf see develop would |
| global | focus remark today benefit risk | global | financi market share role respons |
| market | today benefit risk global financi | market | share role respons global bring |
| global | financi market share role respons | global | bring global introduc profound chang |
| global | share role respons global bring | global | introduc profound chang way financi |
| polici | system oper household financi institut | polici | maker supran bodi intern financi |
| global | protect public good financi stabil | global | descript trendslet begin discuss broad |
| global | begin discuss broad trend toward | global | financi market recent year outset |
| market | broad trend toward global financi | market | recent year outset import highlight |
| global | import highlight three longerterm trend | global | market imf recent address latest |
| market | highlight three longerterm trend global | market | imf recent address latest edit |
| global | imf recent address latest edit | global | financi stabil report dramat increas |
| market | flow includ new role emerg | market | global financi institut global financi |
| global | includ new role emerg market | global | financi institut global financi market |
| global | emerg market global financi institut | global | financi market global capit flow |
| market | global financi institut global financi | market | global capit flow regard capit |
| global | financi institut global financi market | global | capit flow regard capit flow |
| global | revolut degre capit move acrossbord | global | cross border flow estim reach |
| economi | taken place much rapid real | economi | sum equiti market capit outstand |
| market | rapid real economi sum equiti | market | capit outstand bond issu bank |
| growth | midst period histor high stabl | growth | crossbord capit flow financi asset |
| countri | financi asset expand even faster | countri | invest economi ever greater degre |
| economi | expand even faster countri invest | economi | ever greater degre trend driven |
| growth | driven three dramat chang rapid | growth | asset manag institut investor chang |
| global | behavior home bias declin broaden | global | investor base increas import role |
| market | base increas import role emerg | market | offici sector central bank sovereign |
| countri | commod price develop play role | countri | larg abolish relax signific restrict |
| countri | increas number retire uptod inform | countri | market firm becom far wide |
| market | number retire uptod inform countri | market | firm becom far wide avail |
| global | crossbord invest offer role emerg | global | financi institut next major develop |
| global | financi institut next major develop | global | financi affair would like mention |
| global | financi affair would like mention | global | financi institut happen larg extent |
| countri | life insur compani high incom | countri | well eastern europ latin america |
| global | year look much higher year | global | transform financi market global financi |
| market | higher year global transform financi | market | global financi market gone handinhand |
| global | year global transform financi market | global | financi market gone handinhand global |
| market | transform financi market global financi | market | gone handinhand global institut alreadi |
| global | global financi market gone handinhand | global | institut alreadi mention tradit investor |
| market | investor increas diversifi asset foreign | market | innov progress area risk manag |
| market | manag anoth featur transform financi | market | landscap perhap even influenti growth |
| growth | market landscap perhap even influenti | growth | hedg fund focus absolut return |
| market | investor interest number domest financi | market | previous receiv littl attent hedg |
| market | disproportion larg percentag trade number | market | import context global market hedg |
| global | trade number market import context | global | market hedg fund invest strategi |
| market | number market import context global | market | hedg fund invest strategi start |
| market | start premis oper design home | market | diversifi rather invest arbitrag opportun |
| market | wherev manag believ asset mispric | market | offer high absolut return risk |
| market | emul activ trade arbitrag across | market | differ countri far less reluct |
| countri | trade arbitrag across market differ | countri | far less reluct cross tradit |
| also | tradit geograph border hedg fund | also | activ rapid develop segment market |
| market | also activ rapid develop segment | market | deriv structur product help make |
| market | product help make complet asset | market | process european perspect integrationfrom european |
| global | europ decid integr right answer | global | integr could bring effici stabil |
| market | financi integr show european money | market | becom fulli integr govern corpor |
| market | fulli integr govern corpor bond | market | also achiev high degre integr |
| also | integr govern corpor bond market | also | achiev high degre integr share |
| global | progress europ particular retail bank | global | assess impacthav describ dramat chang |
| global | impacthav describ dramat chang occur | global | financi landscap would like give |
| global | note impact trend toward greater | global | financi integr numer multifacet broadbrush |
| global | flow wit ultim prove benefici | global | economi investor saver increas offer |
| economi | wit ultim prove benefici global | economi | investor saver increas offer wider |
| global | greatest use like posit impact | global | financi stabil increas divers crossbord |
| market | pitfal recent acceler flow emerg | market | countri challeng author emerg market |
| countri | recent acceler flow emerg market | countri | challeng author emerg market econom |
| market | market countri challeng author emerg | market | econom fundament improv overal continu |
| econom | countri challeng author emerg market | econom | fundament improv overal continu observ |
| countri | continu observ pocket vulner particular | countri | capit flow financ larg current |
| financ | vulner particular countri capit flow | financ | larg current account deficit credit |
| growth | larg current account deficit credit | growth | rapid household credit expand breakneck |
| market | credit expand breakneck speed emerg | market | economi natur rais concern bank |
| economi | expand breakneck speed emerg market | economi | natur rais concern bank abil |
| market | increas lower credit rate emerg | market | bank corpor encourag increas investor |
| also | encourag increas investor risk appetit | also | noteworthi capit flow number countri |
| countri | also noteworthi capit flow number | countri | previous receiv littl interest foreign |
| countri | littl interest foreign investor particular | countri | subsaharan africa past episod rapid |
| growth | subsaharan africa past episod rapid | growth | intern capit flow led abrupt |
| econom | flow led abrupt revers favor | econom | circumst round global taken place |
| global | revers favor econom circumst round | global | taken place also offer littl |
| also | circumst round global taken place | also | offer littl guidanc robust global |
| global | also offer littl guidanc robust | global | system signific sustain stress howev |
| global | may prematur make assess impact | global | financi institutionsturn impact global financi |
| global | impact global financi institutionsturn impact | global | financi institut studi show posit |
| global | merger less clear cut look | global | perspect inde larg intern bank |
| global | crise becom complic deal impact | global | marketsth impact greater crossbord flow |
| market | impact greater crossbord flow financi | market | also profound first market across |
| also | greater crossbord flow financi market | also | profound first market across world |
| market | financi market also profound first | market | across world move close togeth |
| market | togeth past instanc bond equiti | market | europ japan u move much |
| economi | ago one would expect world | economi | becom interrel trade invest financi |
| market | becom interrel trade invest financi | market | would react similar way common |
| market | common develop shock increas comov | market | littl direct econom connect suggest |
| econom | increas comov market littl direct | econom | connect suggest someth fundament structur |
| market | suggest someth fundament structur financi | market | go margin investor market across |
| market | financi market go margin investor | market | across globe react similar way |
| market | increas volum financi transact segment | market | concentr narrow band invest bank |
| global | settlement payment risk howev mean | global | financi system becom evermor reliant |
| growth | chang natur bank fundament way | growth | credit deriv securit brought new |
| need | risk want hold balanc sheet | need | transfer transform busi bank risk |
| market | risk time new model depend | market | liquid abil packag transfer risk |
| market | risk increas depend smooth function | market | model also requir us pay |
| also | depend smooth function market model | also | requir us pay attent incent |
| need | may caus relax lend condit | need | remain vigil ensur old adag |
| global | summar speech far would say | global | brought enorm chang crossbord flow |
| market | chang crossbord flow financi institut | market | chang better without risk role |
| global | financi stabil minim benefit financi | global | wide share answer question would |
| global | household clear benefit widespread chang | global | financi market institut either increas |
| market | benefit widespread chang global financi | market | institut either increas access credit |
| market | layer intermediari smooth impact chang | market | valu purchas power retir save |
| countri | dispers potenti felt saver mani | countri | still generous earningsrel pension scheme |
| market | govern scale back scheme shift | market | risk direct household saver also |
| also | market risk direct household saver | also | respons financ higher educ health |
| financ | direct household saver also respons | financ | higher educ health care cost |
| countri | care transfer back household mani | countri | time household expect requir take |
| global | equip deal brave new world | global | capit flow obvious solut situat |
| also | make prudent choic financiallyliter popul | also | enhanc competit pressur financi industri |
| also | menus appropri less sophist investor | also | neutral hope trust sourc advic |
| global | household adequ inform risk new | global | financi architectur bring tool necessari |
| market | grow complex domest intern financi | market | help ensur action negat impact |
| global | ensur action negat impact particip | global | financi market financi market particip |
| market | negat impact particip global financi | market | financi market particip turn respons |
| market | particip global financi market financi | market | particip turn respons impos greater |
| market | particip turn respons impos greater | market | disciplin financi institut reward better |
| market | provid interest exampl approach view | market | disciplin hedg fund counterparti remain |
| market | compon respons challeng pose presenc | market | greater disclosur hedg fund may |
| need | regul see respons twofold first | need | place regulatori supervisori framework ensur |
| market | requir regul entiti disclos suffici | market | disciplin effect supervisor must also |
| also | market disciplin effect supervisor must | also | ensur crisi manag resolut procedur |
| polici | within jurisdict crossbord spillov nation | polici | becom relev global flow institut |
| global | spillov nation polici becom relev | global | flow institut market continu requir |
| market | becom relev global flow institut | market | continu requir parti pay attent |
| market | particular relev increas integr financi | market | europ grow complex crossbord bank |
| need | crisi manag resolut procedur europ | need | strengthen time european union instrument |
| countri | exampl good practic coordin cooper | countri | region world topic see three |
| market | risk pose greater integr financi | market | eu first need exploit maximum |
| need | integr financi market eu first | need | exploit maximum potenti cooper amongst |
| countri | play field financi institut across | countri | minim supervisori burden financi institut |
| need | key area reform european framework | need | move predict rulebas system earli |
| countri | help build confid among member | countri | crossbord crisi manag oper carri |
| need | effect least cost manner final | need | achiev greater harmon deposit insur |
| market | get behind develop take place | market | role respons ifisfin would like |
| global | intern financi institut mitig risk | global | intern organ near univers membership |
| global | near univers membership respons monitor | global | financi stabil potenti threat well |
| countri | threat well duti advis member | countri | polici minim risk financi system |
| polici | well duti advis member countri | polici | minim risk financi system economi |
| economi | polici minim risk financi system | economi | pose forc global also respons |
| global | financi system economi pose forc | global | also respons provid technic assist |
| also | system economi pose forc global | also | respons provid technic assist member |
| market | assist member help develop necessari | market | infrastructur cope challeng help ensur |
| global | ensur obtain maximum benefit financi | global | final lend facil stand readi |
| countri | stand readi provid resourc member | countri | face difficulti balanc payment activ |
| countri | condit face various group region | countri | look thing perspect common trend |
| polici | thing perspect common trend challeng | polici | respons beyond strict nation focus |
| econom | process look specif european financi | econom | issu perspect entir area final |
| global | issu perspect entir area final | global | surveil activ includ global financi |
| global | final global surveil activ includ | global | financi stabil report focus develop |
| global | financi stabil report focus develop | global | financi market trend affect global |
| market | report focus develop global financi | market | trend affect global financi system |
| global | global financi market trend affect | global | financi system polici challeng respons |
| polici | trend affect global financi system | polici | challeng respons necessari maintain financi |
| global | necessari maintain financi stabil bring | global | perspect financi sector develop help |
| countri | resourc provid technic advic cooper | countri | author object advic cooper provid |
| countri | author object advic cooper provid | countri | skill knowledg develop market institut |
| market | provid countri skill knowledg develop | market | institut polici meet challeng pose |
| polici | skill knowledg develop market institut | polici | meet challeng pose global ensur |
| global | institut polici meet challeng pose | global | ensur benefit power forc conclusionin |
| global | fundament view see forc financi | global | ultim benefici global financi stabil |
| global | forc financi global ultim benefici | global | financi stabil econom welfar risk |
| econom | ultim benefici global financi stabil | econom | welfar risk need close monitor |
| need | financi stabil econom welfar risk | need | close monitor manag respons manag |
| global | benefit fundament chang caus revolut | global | capit flow institut market outweigh |
| market | revolut global capit flow institut | market | outweigh downsid risk imf stand |
| econom | board arrang cornerston estonia extraordinari | econom | transform allow shift topic today |
| econom | collect strength much admir process | econom | integr boost competit growth across |
| growth | process econom integr boost competit | growth | across contin sever decad world |
| econom | sever decad world war ii | econom | growth base format capit adopt |
| growth | decad world war ii econom | growth | base format capit adopt exist |
| countri | geographi main compar advantag european | countri | high educ popul commit rule |
| countri | class public infrastructur cours european | countri | also excel educ system preserv |
| also | public infrastructur cours european countri | also | excel educ system preserv expand |
| econom | peac social stabil much postwar | econom | catchup complet innov competit taken |
| econom | innov competit taken critic role | econom | growth competit turn crucial relat |
| growth | competit taken critic role econom | growth | competit turn crucial relat integr |
| economi | turn crucial relat integr european | economi | includ rest world fact europ |
| growth | larg expos competit innov product | growth | strongest open trade competit industri |
| also | equip enhanc product europ resourc | also | led greater use technolog develop |
| market | put pressur markup induc competit | market | structur visibl europ product perform |
| econom | notwithstand success europ integr improv | econom | perform europ lag behind unit |
| econom | lag behind unit state term | econom | growth product second half seen |
| growth | behind unit state term econom | growth | product second half seen slide |
| need | demograph challeng face europ make | need | stronger product growth urgent rapid |
| growth | europ make need stronger product | growth | urgent rapid age popul put |
| countri | forc particip remain low mani | countri | europ must also boost product |
| also | low mani countri europ must | also | boost product reform welfar system |
| econom | continu integr europ remain essenti | econom | prosper contin individu member better |
| countri | better place make case estonia | countri | whose remark econom perform owe |
| econom | case estonia countri whose remark | econom | perform owe much enthusiasm embrac |
| growth | member state shown rapid product | growth | reflect rapid converg econom restructur |
| econom | product growth reflect rapid converg | econom | restructur enlarg european union estonia |
| also | new member state benefit consider | also | made old member state competit |
| economi | goal becom dynam competit knowledgebas | economi | world lisbon agenda set way |
| economi | recent result somewhat disappoint european | economi | fail deliv expect perform term |
| growth | fail deliv expect perform term | growth | product employ fair lisbon employ |
| global | reform strategi har synergi recent | global | competit report world econom forum |
| econom | recent global competit report world | econom | forum show encourag sign europ |
| global | six member state topten rank | global | competit index slide product growth |
| growth | global competit index slide product | growth | perform differ across countri itali |
| countri | product growth perform differ across | countri | itali spain lag germani franc |
| countri | rest world extern sector promin | countri | second share open market accord |
| market | promin countri second share open | market | accord oecd relat light product |
| market | oecd relat light product servic | market | regul third countri reli budget |
| countri | product servic market regul third | countri | reli budget rather market restrict |
| market | third countri reli budget rather | market | restrict mean redistribut incom fourth |
| market | incom fourth willing adjust labor | market | welfar state respons new pressur |
| market | taken whole success strategi labor | market | welfar reform foster labor suppli |
| market | foster labor suppli product servic | market | liber foster labor demand synergi |
| countri | consider contrast strategi pursu european | countri | attitud market competit sometim ambival |
| market | strategi pursu european countri attitud | market | competit sometim ambival especi strong |
| market | toward lisbon goal effici singl | market | essenti boost competit europ becom |
| market | barrier full integr good servic | market | includ obstacl foreign entri elimin |
| growth | slide shown figur labor product | growth | financi busi servic lag behind |
| need | level servic direct step europ | need | take regard time implement desir |
| growth | busi person servic contribut negat | growth | therefor financi servic integr import |
| countri | product perform wish point host | countri | estonia except slide high integr |
| growth | financi sector lead contributor product | growth | mention outset econom integr help |
| econom | contributor product growth mention outset | econom | integr help europ garner much |
| growth | collect strength past decad competit | growth | flourish segment european societi economi |
| economi | growth flourish segment european societi | economi | far remain relat shelter import |
| growth | chang area critic achiev satisfactori | growth | need sustain high standard live |
| need | area critic achiev satisfactori growth | need | sustain high standard live age |
| also | old member state european union | also | ensur new member state soon |
| market | sign treati rome envisag singl | market | european policymak must ensur build |
| market | policymak must ensur build singl | market | remain top agenda |
| econom | issu inflat target employ creation | econom | develop three import issu would |
| economi | would like thank g polit | economi | research institut univers massachusett take |
| growth | one whether inflat target compat | growth | employ generat poverti reduct anoth |
| growth | take account concern employ competit | growth | third question whether reason altern |
| market | draw experi inflat target emerg | market | economi past decad also comment |
| economi | experi inflat target emerg market | economi | past decad also comment key |
| also | emerg market economi past decad | also | comment key featur macroeconom experi |
| market | experi lesson rais experi emerg | market | economi inflat target spread inflat |
| economi | lesson rais experi emerg market | economi | inflat target spread inflat targetingsinc |
| countri | new zealand inflat target adopt | countri | emerg market develop economi discuss |
| market | inflat target adopt countri emerg | market | develop economi discuss imf member |
| economi | adopt countri emerg market develop | economi | discuss imf member also appar |
| also | develop economi discuss imf member | also | appar emerg market develop countri |
| market | imf member also appar emerg | market | develop countri like move inflat |
| countri | also appar emerg market develop | countri | like move inflat target within |
| countri | factor first experi develop develop | countri | alik show higher inflat could |
| growth | higher inflat could promot stronger | growth | extern competit employ sustain basi |
| growth | high unpredict inflat shown bad | growth | employ equit distribut real incom |
| econom | contribut central bank make good | econom | perform long term provid environ |
| growth | name whether inflat target compat | growth | employ creation extent inflat inim |
| growth | creation extent inflat inim longterm | growth | endur employ creation extent inflat |
| polici | creation extent inflat target effect | polici | framework bring inflat would seem |
| growth | would seem incompat inflat target | growth | employ second reason inflat target |
| market | popular innov financi product financi | market | inevit affect relationship financi activ |
| economi | affect relationship financi activ real | economi | result money credit aggreg often |
| countri | use intermedi target inflat mani | countri | relationship money inflat becam unstabl |
| countri | reason inflat target invent advanc | countri | mani countri move inflat target |
| countri | target invent advanc countri mani | countri | move inflat target seen practic |
| also | altern target monetari aggreg problem | also | occur emerg market countri may |
| market | aggreg problem also occur emerg | market | countri may undergo major structur |
| countri | problem also occur emerg market | countri | may undergo major structur chang |
| growth | aggreg less reliabl predictor futur | growth | inflat third consider adopt inflat |
| market | increas intern integr good financi | market | import common factor behind chang |
| polici | common factor behind chang monetari | polici | regim open capit account mani |
| countri | regim open capit account mani | countri | decid flexibl exchang rate framework |
| econom | framework better suit cushion domest | econom | perform extern disturb fix nomin |
| need | rate regim new nomin anchor | need | principl either monetari target aim |
| polici | monetari aggreg less reliabl intermedi | polici | target fourth experi industri countri |
| countri | polici target fourth experi industri | countri | adopt inflat target general consid |
| polici | target general consid success provid | polici | credibl flexibl result better inflat |
| growth | credibl flexibl result better inflat | growth | perform togeth increas resili shock |
| polici | close associ success appar benefit | polici | transpar credibl inflat target framework |
| also | framework ultim macroeconom perform experi | also | influenc emerg market adopt inflat |
| market | perform experi also influenc emerg | market | adopt inflat target although adopt |
| economi | although adopt inflat target advanc | economi | general regard success adopt emerg |
| market | general regard success adopt emerg | market | develop economi controversi debat focus |
| economi | success adopt emerg market develop | economi | controversi debat focus three main |
| also | debat focus three main question | also | identifi discuss seminar first whether |
| growth | perform like come cost poorer | growth | perform second question precondit need |
| need | growth perform second question precondit | need | met adopt inflat target whether |
| market | whether precondit like demand emerg | market | develop countri third question whether |
| countri | like demand emerg market develop | countri | third question whether inflat target |
| market | altern monetari approach kind financi | market | disturb emerg market develop countri |
| market | kind financi market disturb emerg | market | develop countri may particular vulner |
| countri | market disturb emerg market develop | countri | may particular vulner experi countri |
| countri | countri may particular vulner experi | countri | like brazil czech republ korea |
| also | academ circl among central bank | also | insid imf experi emerg market |
| market | also insid imf experi emerg | market | develop economiesa grow number studi |
| econom | one publish septemb imf world | econom | outlook suggest inflat target emerg |
| market | outlook suggest inflat target emerg | market | develop countri associ better macroeconom |
| countri | inflat target emerg market develop | countri | associ better macroeconom perform altern |
| polici | better macroeconom perform altern monetari | polici | framework otherwis similar economi period |
| economi | monetari polici framework otherwis similar | economi | period true emerg market develop |
| market | similar economi period true emerg | market | develop countri whether target inflat |
| countri | period true emerg market develop | countri | whether target inflat perform much |
| growth | inflat perform much better term | growth | inflat sinc two period inflat |
| countri | twice much noninfl target group | countri | also enjoy increas real gdp |
| also | much noninfl target group countri | also | enjoy increas real gdp growth |
| growth | also enjoy increas real gdp | growth | rate typic around percentag point |
| growth | point differ two group term | growth | statist signific number reason one |
| growth | might think inflat target favor | growth | fact success adopt countri divers |
| countri | favor growth fact success adopt | countri | divers structur indic flexibl polici |
| polici | countri divers structur indic flexibl | polici | framework adapt countri circumst adapt |
| countri | indic flexibl polici framework adapt | countri | circumst adapt time countri pursu |
| countri | adapt countri circumst adapt time | countri | pursu strict inflat target reli |
| polici | demand pressur inflat involv longer | polici | lag would reduc output employ |
| polici | provid sever element flexibl use | polici | maker adapt countri specif circumst |
| countri | flexibl use polici maker adapt | countri | specif circumst one choic price |
| countri | price index use target inflat | countri | core inflat may better predictor |
| countri | target provid anoth element flexibl | countri | like subject extern suppli shock |
| polici | period match length lag monetari | polici | transmiss mechan length lag vari |
| countri | transmiss mechan length lag vari | countri | countri given forward look natur |
| countri | mechan length lag vari countri | countri | given forward look natur inflat |
| polici | look natur inflat target flexibl | polici | maker choos shock respond period |
| countri | time inflationari expect well anchor | countri | accommod temporari suppli shock may |
| polici | inflat may requir overreact monetari | polici | wellanchor expect price shock less |
| also | inflat target stabl inflat expect | also | allow extens matur fixedr instrument |
| market | extens matur fixedr instrument secondari | market | exist lengthen yield curv posit |
| financ | curv posit effect long term | financ | growth anoth channel stabl inflat |
| growth | posit effect long term financ | growth | anoth channel stabl inflat expect |
| growth | channel stabl inflat expect help | growth | research imf suggest neither industri |
| market | imf suggest neither industri emerg | market | inflat target pursu inflat target |
| growth | target fashion ignor shortterm consequ | growth | group countri miss target far |
| countri | ignor shortterm consequ growth group | countri | miss target far often around |
| growth | order avoid induc excess volatil | growth | unemploy time ensur inflat brought |
| also | medium term consist find evid | also | show emerg market economi inflat |
| market | find evid also show emerg | market | economi inflat target typic experi |
| economi | evid also show emerg market | economi | inflat target typic experi lower |
| growth | target typic experi lower variabl | growth | inflat emerg market monetari polici |
| market | lower variabl growth inflat emerg | market | monetari polici regim overal find |
| polici | growth inflat emerg market monetari | polici | regim overal find general favor |
| polici | take consider shortterm consequ output | polici | framework achiev substanti reduct inflat |
| growth | inflat without signific cost term | growth | framework entir compat low volatil |
| growth | entir compat low volatil inflat | growth | background surpris note countri adopt |
| countri | inflat growth background surpris note | countri | adopt inflat target far abandon |
| countri | abandon favor framework short emerg | countri | adopt inflat target manag achiev |
| growth | period without signific sacrific term | growth | perform still clear extent better |
| countri | better macroeconom perform inflat target | countri | credit exclus chang monetari polici |
| polici | countri credit exclus chang monetari | polici | regim countri adopt inflat target |
| countri | exclus chang monetari polici regim | countri | adopt inflat target chang monetari |
| polici | framework part widerang set structur | polici | reform includ substanti fiscal consolid |
| market | fiscal consolid time mani emerg | market | economi yet adopt inflat target |
| economi | consolid time mani emerg market | economi | yet adopt inflat target also |
| also | economi yet adopt inflat target | also | introduc widerang reform consequ also |
| also | also introduc widerang reform consequ | also | hard argu improv macroeconom perform |
| market | perform inflat target relat emerg | market | attribut factor monetari polici put |
| polici | emerg market attribut factor monetari | polici | put plain even consider taken |
| market | inflat target appear help emerg | market | economi get inflat low level |
| economi | target appear help emerg market | economi | get inflat low level without |
| growth | level without signific cost term | growth | cours mean inflat target proven |
| countri | two particular issu problemat sever | countri | first perenni issu open economi |
| economi | countri first perenni issu open | economi | includ inflat target role exchang |
| polici | reli exchang rate nomin anchor | polici | case quit difficult either central |
| market | inflat object central bank convinc | market | done chile hungari romania exampl |
| market | done chile hungari romania exampl | market | test central bank commit inflat |
| polici | object eventu howev privat sector | polici | maker need accept intern cost |
| need | howev privat sector polici maker | need | accept intern cost competit fundament |
| need | wage profit address under issu | need | rais product case domest factor |
| market | play key role trigger shift | market | sentiment exampl brazil philippin experienc |
| polici | develop relat concern futur fiscal | polici | appear play key role last |
| also | key role last year iceland | also | experienc exchang market pressur reflect |
| market | year iceland also experienc exchang | market | pressur reflect concern larg current |
| growth | sector vulner associ rapid credit | growth | case howev episod either transient |
| polici | exchang rate pressur led breakdown | polici | framework occur exchang rate peg |
| also | inde episod howev pain time | also | strengthen polici credibl central bank |
| polici | howev pain time also strengthen | polici | credibl central bank keep focus |
| market | inflat target framework mani emerg | market | develop economi yet test volatil |
| economi | framework mani emerg market develop | economi | yet test volatil tri global |
| global | economi yet test volatil tri | global | macroeconom financi market environ lesson |
| market | volatil tri global macroeconom financi | market | environ lesson inflat target experiencesso |
| countri | lesson draw experi inflat target | countri | highlight think may particular relev |
| market | pose agenda seminar experi emerg | market | countri inde industri nation adopt |
| countri | agenda seminar experi emerg market | countri | inde industri nation adopt inflat |
| also | industri nation adopt inflat target | also | suggest inflat target success even |
| countri | element refer littl doubt along | countri | develop element prior adopt inflat |
| polici | prior adopt inflat target credibl | polici | framework better macroeconom perform like |
| countri | macroeconom perform like nonetheless fact | countri | abl undertak inflat target success |
| polici | k schmidthebbel f mishkin monetari | polici | inflat target santiago central bank |
| market | roger overview inflat target emerg | market | economi forthcom bank thailand challeng |
| economi | overview inflat target emerg market | economi | forthcom bank thailand challeng inflat |
| countri | thailand challeng inflat target emerg | countri | bangkok bank thailand see roger |
| econom | asia made consider progress strengthen | econom | foundat dynam region world economi |
| economi | econom foundat dynam region world | economi | part imf retool better help |
| econom | better help membership cope increas | econom | financi global today talk chang |
| global | membership cope increas econom financi | global | today talk chang focus aim |
| global | chang focus aim adapt financi | global | let first go back briefli |
| polici | impedi understand happen make appropri | polici | recommend mixtur set stage sudden |
| countri | privat demand collaps output affect | countri | declin sharpli underdevelop social safeti |
| econom | social safeti net exacerb social | econom | impact slump privat creditor stamped |
| financ | communiti work fund provid substanti | financ | time govern region adjust polici |
| polici | financ time govern region adjust | polici | increas take strong appropri action |
| also | increas take strong appropri action | also | step taken involv privat sector |
| financ | taken involv privat sector provid | financ | initi adjust approach eventu turn |
| polici | consider progress appli lesson strengthen | polici | institut framework impress extent reduc |
| countri | made nation level first mani | countri | strengthen macroeconom polici framework sever |
| polici | first mani countri strengthen macroeconom | polici | framework sever respect particular second |
| polici | particular second area transpar transpar | polici | avail inform improv mark asian |
| polici | target framework statement monetari condit | polici | develop also regular publish third |
| also | statement monetari condit polici develop | also | regular publish third asian countri |
| countri | also regular publish third asian | countri | undertaken import effort reform financi |
| countri | mark reduct nonperform loan true | countri | affect crisi time overgear corpor |
| also | board see chart lesson crisi | also | spawn number region initi aim |
| polici | financi integr resili region increas | polici | dialogu reserv share arrang capit |
| market | dialogu reserv share arrang capit | market | develop result chang nation region |
| global | make region better place benefit | global | financ inde past year emerg |
| financ | region better place benefit global | financ | inde past year emerg asia |
| global | handl well two moder bout | global | financi market turbul recov quick |
| market | two moder bout global financi | market | turbul recov quick episod howev |
| economi | recov quick episod howev region | economi | remain test major disturb global |
| global | economi remain test major disturb | global | financi market continu challeng capit |
| market | test major disturb global financi | market | continu challeng capit flowsnevertheless asia |
| global | face challeng increas financi integr | global | region level one issu offici |
| countri | level one issu offici mani | countri | current grappl deal surg capit |
| countri | desir asian invest outsid home | countri | natur healthi result asia grow |
| global | result asia grow financi integr | global | economi well increas scale gross |
| economi | asia grow financi integr global | economi | well increas scale gross capit |
| also | scale gross capit flow region | also | becom volatil particular concern surg |
| also | circumv impos previous liber system | also | circumst control creat doubt futur |
| polici | control creat doubt futur direct | polici | potenti discourag foreign direct invest |
| global | inflow seem time featur financi | global | magic bullet deal best shortrun |
| polici | magic bullet deal best shortrun | polici | respons appear combin exchang rate |
| market | term step develop deepen financi | market | includ context region financi integr |
| also | includ context region financi integr | also | help liber restrict outflow warrant |
| market | restrict outflow warrant pace financi | market | reform also support deeper integr |
| also | warrant pace financi market reform | also | support deeper integr potenti offset |
| polici | potenti vulner financi sector appropri | polici | respons central part dialogu member |
| countri | respons central part dialogu member | countri | done lot work last decad |
| economi | vulner financi sector transmit sector | economi | vice versa also follow develop |
| also | transmit sector economi vice versa | also | follow develop capit market close |
| market | versa also follow develop capit | market | close analyz potenti implic econom |
| econom | market close analyz potenti implic | econom | financi stabil second analysi multilater |
| market | actual potenti spillov especi financi | market | develop third also assess whether |
| also | especi financi market develop third | also | assess whether financ tool crisi |
| financ | develop third also assess whether | financ | tool crisi prevent improv whether |
| market | instrument would use use emerg | market | countri fourth learn better import |
| countri | would use use emerg market | countri | fourth learn better import countri |
| countri | countri fourth learn better import | countri | ownership give promin govern prioriti |
| growth | cover issu critic macroeconom stabil | growth | final move ahead govern reform |
| global | fund better reflect realiti today | global | economi took import step annual |
| economi | better reflect realiti today global | economi | took import step annual meet |
| also | china mexico korea turkey governor | also | agre next stage involv increas |
| countri | make sure voic low incom | countri | protect second stage complet later |
| market | complet later septemb dynam emerg | market | countri includ asia must feel |
| countri | later septemb dynam emerg market | countri | includ asia must feel adequ |
| market | asia crisi longer program emerg | market | countri know fact normal desir |
| countri | crisi longer program emerg market | countri | know fact normal desir state |
| global | much twoway dialogu fund bring | global | econom perspect experi membership larg |
| econom | twoway dialogu fund bring global | econom | perspect experi membership larg bear |
| econom | membership larg bear nation region | econom | issu asian perspect brought global |
| global | econom issu asian perspect brought | global | econom question also provid consider |
| econom | issu asian perspect brought global | econom | question also provid consider technic |
| also | perspect brought global econom question | also | provid consider technic assist train |
| also | object ensur financi stabil region | also | global level asia increas import |
| global | ensur financi stabil region also | global | level asia increas import player |
| countri | america one spread root across | countri | univers play critic role bolivia |
| polici | role enhanc human capit public | polici | bolivia go talk today latin |
| econom | today latin america current favor | econom | context outlook optim region even |
| countri | rate  ½ percent third | countri | region experienc growth rate percent |
| growth | percent third countri region experienc | growth | rate percent higher sever countri |
| countri | growth rate percent higher sever | countri | grow fastest pace mani year |
| growth | three year activ region sinc | growth | averag  ¼ percent year |
| also | critic unemploy poverti social indic | also | shown improv particular inequ final |
| countri | come compar late latin american | countri | data avail expect growth slow |
| growth | american countri data avail expect | growth | slow bit still remain high |
| econom | region background present recent region | econom | outlook copi avail today bolivia |
| econom | avail today bolivia share region | econom | social improv bolivia gdp growth |
| growth | econom social improv bolivia gdp | growth | pick percent  ½ percent |
| polici | month financi sector stabl macroeconom | polici | mix manag larg export windfal |
| growth | region potenti medium term limit | growth | rate alreadi achiev examin proposit |
| econom | inde strike fact latin america | econom | histori frequenc regular growth underway |
| growth | america econom histori frequenc regular | growth | underway suffer setback rather take |
| countri | busi cycl tend volatil advanc | countri | develop countri outsid region aiolfi |
| countri | tend volatil advanc countri develop | countri | outsid region aiolfi catà £ |
| growth | except africa becker mauro longrun | growth | spell sustain period growth transitori |
| growth | longrun growth spell sustain period | growth | transitori interrupt tend rarer region |
| econom | latin america vulner earli interrupt | econom | expans first region macroeconom volatil |
| polici | accentu vulner procycl over expansionari | polici | unsustain spend demand henc reduc |
| also | spend demand henc reduc vulner | also | requir address inequ improv social |
| polici | volatil recent research focus fiscal | polici | key contributor region record stopgo |
| growth | key contributor region record stopgo | growth | inde latin america fiscal volatil |
| also | price cycl fuel nonfuel howev | also | seem case region less resili |
| countri | shock ground optim past year | countri | region abl protect macroeconom stabil |
| growth | stress test show latin american | growth | appear resili extern shock exampl |
| market | price order percent tighten emerg | market | financ coupl slower world growth |
| financ | order percent tighten emerg market | financ | coupl slower world growth howev |
| growth | market financ coupl slower world | growth | howev region may remain sensit |
| financ | extern scenario includ sharpli tighter | financ | condit particular combin slower world |
| growth | condit particular combin slower world | growth | larg rapid drop commod price |
| need | unlik govern region recogn risk | need | taken serious well need reduc |
| need | risk need taken serious well | need | reduc vulner shock mean maintain |
| countri | continu base heavili commod mani | countri | iv good get recent expans |
| need | better believ answer last question | need | yes region better requir improv |
| econom | yes region better requir improv | econom | fundament save invest product region |
| need | save invest product region certain | need | even better despit recent acceler |
| econom | better despit recent acceler region | econom | growth continu lag much world |
| growth | despit recent acceler region econom | growth | continu lag much world exampl |
| growth | continu lag much world exampl | growth | develop countri  ½ percent |
| countri | much world exampl growth develop | countri | Â ½ percent percentag point |
| countri | region may close gap industri | countri | still lag dynam area world |
| countri | dynam area world includ mani | countri | direct benefit commod boom way |
| countri | recent expans reduc growthgap develop | countri | region recent region econom outlook |
| econom | develop countri region recent region | econom | outlook focus region relat weak |
| countri | america remain signific lower develop | countri | averag even import low growth |
| growth | countri averag even import low | growth | total factor product tfp although |
| growth | factor product tfp although tfp | growth | pick earli grew percent per |
| countri | percentag point weigh averag develop | countri | even distant china perform period |
| countri | period among largest latin american | countri | chile countri signific overperform relat |
| countri | largest latin american countri chile | countri | signific overperform relat averag develop |
| countri | signific overperform relat averag develop | countri | exclud china sinc  ½ |
| growth | higher peak earlier expans product | growth | also slight better previous expans |
| also | peak earlier expans product growth | also | slight better previous expans despit |
| growth | invest import substanti improv tfp | growth | illustr challeng face lac countri |
| countri | growth illustr challeng face lac | countri | look differ scenario per capita |
| growth | next year differ combin tfp | growth | invest scenario requir consider higher |
| growth | requir consider higher invest tfp | growth | rate seen region past even |
| growth | region past even doubl product | growth | rate achiev sinc region invest |
| need | sinc region invest rate would | need | rise signific current level averag |
| growth | percent gdp contrast invest tfp | growth | stay region averag next year |
| polici | long run howev underscor import | polici | foster higher product invest effici |
| growth | associ high rate invest product | growth | question polici measur could rais |
| polici | rate invest product growth question | polici | measur could rais product growth |
| growth | polici measur could rais product | growth | employ latin america attract intens |
| polici | employ latin america attract intens | polici | debat recent year see zettelmey |
| countri | although subject best debat domest | countri | depend upon individu circumst recent |
| polici | recent latin american experi suggest | polici | element critic import particular combin |
| polici | combin macroeconom stabil effect distribut | polici | stabl busi environ conduc higher |
| polici | concern regioni highlight effect distribut | polici | among critic element enhanc region |
| growth | among critic element enhanc region | growth | perform inde one key messag |
| polici | key messag want send today | polici | address distribut concern region key |
| growth | key foster especi sustain higher | growth | region econom outlook discuss improv |
| econom | especi sustain higher growth region | econom | outlook discuss improv educ reduc |
| market | discuss improv educ reduc labor | market | rigid could rais employ growth |
| growth | market rigid could rais employ | growth | reform would turn benefici effect |
| market | benefici effect equiti case labor | market | reform reduc earn gap formal |
| polici | often root caus unsustain macroeconom | polici | crise done given incom inequ |
| need | still high region mani social | need | unmet sacrif macroeconom stabil part |
| countri | primarili benefit upperincom group time | countri | spend high benefici poor target |
| countri | program prove high costeffect number | countri | similar vein tax exempt benefit |
| also | exempt benefit upper incom group | also | depriv state resourc could use |
| countri | social expenditur tax system industri | countri | pose polit challeng essenti strengthen |
| countri | privileg opportun observ develop close | countri | face today opportun challeng opportun |
| growth | challeng manag resourc effici promot | growth | employ social inclus bolivia well |
| polici | signific reduc constraint sourc bolivian | polici | maker incorpor mani lesson countri |
| countri | polici maker incorpor mani lesson | countri | histori particular import econom stabil |
| econom | lesson countri histori particular import | econom | stabil necessari condit progress toward |
| countri | futur paramount import lesson experi | countri | region made transform may also |
| also | countri region made transform may | also | extrem use bolivia time particular |
| polici | public privat sector one highest | polici | prioriti come year referencesaiolfi marco |
| growth | jonathan ostri jeromin zettelmey make | growth | sustain forthcom imf work paper |
| growth | monetari fund calvo sara appli | growth | diagnost approach case bolivia world |
| polici | expenditur latin america trend key | polici | issu imf work paper washington |
| countri | post assess longerterm program engag | countri | report intern monetari fund region |
| econom | report intern monetari fund region | econom | outlook western hemispher washington kaufmann |
| growth | zavaleta sustain macroeconom reform tepid | growth | govern puzzl bolivia search prosper |
| econom | bolivia search prosper analyt narrat | econom | growth ed dani rodrik princeton |
| growth | search prosper analyt narrat econom | growth | ed dani rodrik princeton princeton |
| growth | jeromin zettelmey effect extern condit | growth | latin america forthcom imf work |
| econom | fund pritchett lant understand pattern | econom | growth search hill among plateaus |
| growth | pritchett lant understand pattern econom | growth | search hill among plateaus mountain |
| econom | plateaus mountain plain world bank | econom | review may pp singh anoop |
| polici | pp singh anoop macroeconom volatil | polici | lesson latin america imf work |
| countri | monetari fund world bank bolivia | countri | econom memorandum polici improv growth |
| econom | fund world bank bolivia countri | econom | memorandum polici improv growth employ |
| polici | bank bolivia countri econom memorandum | polici | improv growth employ washington world |
| growth | countri econom memorandum polici improv | growth | employ washington world bank zettelmey |
| growth | washington world bank zettelmey jeromin | growth | reform latin america survey fact |
| global | imf today world parliamentari inquiri | global | role imf import time contain |
| need | number use find one fund | need | better equip abl deal today |
| need | make imf world chang fund | need | chang st centuri global creat |
| global | fund need chang st centuri | global | creat new opportun new challeng |
| economi | opportun new challeng member interact | economi | financi sector becom import press |
| need | financi sector becom import press | need | engag emerg economi increas import |
| economi | import press need engag emerg | economi | increas import global economi global |
| global | engag emerg economi increas import | global | economi global problem poverti climat |
| economi | emerg economi increas import global | economi | global problem poverti climat chang |
| global | economi increas import global economi | global | problem poverti climat chang increas |
| need | problem poverti climat chang increas | need | global solut mediumterm strategi fund |
| global | poverti climat chang increas need | global | solut mediumterm strategi fund launch |
| global | chang make concern surveil monitor | global | economi economi individu countri core |
| economi | make concern surveil monitor global | economi | economi individu countri core busi |
| economi | concern surveil monitor global economi | economi | individu countri core busi fund |
| countri | monitor global economi economi individu | countri | core busi fund crise thank |
| need | becom less common central insight | need | pay attent spillov countri real |
| countri | insight need pay attent spillov | countri | real financi sector one conclus |
| countri | flow sometim necessari bring differ | countri | peopl tabl differ way insight |
| global | first multilater consult focus reduc | global | imbal sustain strong global growth |
| global | reduc global imbal sustain strong | global | growth approach took bear fruit |
| growth | global imbal sustain strong global | growth | approach took bear fruit last |
| polici | arabia unit state joint set | polici | document circul minist repres fund |
| global | made import commit could reduc | global | imbal signific fact particip countri |
| countri | global imbal signific fact particip | countri | agre put forward polici discuss |
| polici | particip countri agre put forward | polici | discuss multilater set recognit global |
| global | polici discuss multilater set recognit | global | natur problem show commit multilater |
| polici | element decis surveil exchang rate | polici | aim revis decis reflect best |
| also | decis reflect best practic surveil | also | set coher vision core activ |
| also | set coher vision core activ | also | improv implement surveil daytoday basi |
| market | issu reflect immediaci extent financi | market | develop affect peopl live similar |
| also | affect peopl live similar reason | also | deepen analysi spillov countri market |
| countri | reason also deepen analysi spillov | countri | market analysi exchang rate regard |
| market | also deepen analysi spillov countri | market | analysi exchang rate regard climat |
| polici | assess macroeconom signific climat chang | polici | effort mitig work import effort |
| global | effort understand longterm macroeconom challeng | global | economi provid basi polici advic |
| economi | understand longterm macroeconom challeng global | economi | provid basi polici advic member |
| polici | challeng global economi provid basi | polici | advic member countri help us |
| countri | provid basi polici advic member | countri | help us contribut intern effort |
| market | intern effort deal challeng emerg | market | assess whether tool crisi prevent |
| countri | new instrument would provid mechan | countri | commit sound polici make highaccess |
| polici | provid mechan countri commit sound | polici | make highaccess financ avail advers |
| financ | commit sound polici make highaccess | financ | avail advers shock critic issu |
| need | develop specif design featur meet | need | emerg market foster potenti demand |
| market | design featur meet need emerg | market | foster potenti demand provid adequ |
| countri | adequ safeguard fund resourc lowincom | countri | fund remain fulli commit support |
| countri | remain fulli commit support lowincom | countri | question tri address mediumterm strategi |
| countri | mediumterm strategi whether engag lowincom | countri | answer fund effect work lowincom |
| countri | answer fund effect work lowincom | countri | focus critic macroeconom financi area |
| countri | therefor first foremost work lowincom | countri | member put place right macroeconom |
| polici | member put place right macroeconom | polici | allow util aid fulli effect |
| countri | fight poverti won involv develop | countri | donor countri ngos world bank |
| countri | won involv develop countri donor | countri | ngos world bank develop agenc |
| countri | two concern repres major donor | countri | first concern promis higher aid |
| countri | follow far turn realiti least | countri | know donor countri u n |
| countri | realiti least countri know donor | countri | u n world summit pledg |
| countri | summit pledg increas aid poor | countri | us billion far howev seen |
| need | subsaharan africa moreov higher aid | need | disburs predict way harmon across |
| econom | harmon across differ donor second | econom | develop mani develop countri depend |
| countri | second econom develop mani develop | countri | depend crucial trade therefor import |
| countri | creat level play field lowincom | countri | allow achiev econom growth need |
| econom | field lowincom countri allow achiev | econom | growth need reduc poverti europ |
| growth | lowincom countri allow achiev econom | growth | need reduc poverti europ particular |
| need | countri allow achiev econom growth | need | reduc poverti europ particular role |
| market | poverti europ particular role play | market | access agricultur product crucial prospect |
| countri | product crucial prospect mani develop | countri | let also say littl one |
| also | prospect mani develop countri let | also | say littl one particular partnership |
| need | use report contain import recommend | need | discuss board let offer observ |
| also | recommend fund bank clearer institut | also | establish cultur collabor trust strong |
| countri | recommend fund withdraw lend lowincom | countri | poverti reduct growth facil think |
| growth | lend lowincom countri poverti reduct | growth | facil think actual misread report |
| countri | remain import instrument still mani | countri | continu financi contribut fund need |
| need | countri continu financi contribut fund | need | facil tailor specif circumst prgf |
| countri | like remain tool choic work | countri | financi support need fund financi |
| need | choic work countri financi support | need | fund financi support longer necessari |
| polici | financi support longer necessari option | polici | support instrument psi countri fund |
| countri | option polici support instrument psi | countri | fund continu major provid muchneed |
| also | build effort committe member may | also | familiar report independ evalu offic |
| countri | fund must focus work lowincom | countri | cannot meet everyon hope solv |
| economi | legitimaci institut go keep emerg | economi | engag fund must feel adequ |
| countri | adequ repres similar voic lowincom | countri | must clear heard govern institut |
| countri | govern structur aim increas represent | countri | whose role global economi increas |
| global | increas represent countri whose role | global | economi increas recent year also |
| economi | represent countri whose role global | economi | increas recent year also protect |
| also | global economi increas recent year | also | protect voic represent lowincom countri |
| countri | also protect voic represent lowincom | countri | know emphasi also appear recommend |
| also | represent lowincom countri know emphasi | also | appear recommend select committe recent |
| market | quota increas four dynam emerg | market | china mexico korea turkey discuss |
| global | appropri captur relat posit member | global | economi last month imfc also |
| economi | captur relat posit member global | economi | last month imfc also agre |
| also | global economi last month imfc | also | agre reform result higher share |
| economi | reform result higher share dynam | economi | mani emerg market economi whose |
| market | share dynam economi mani emerg | market | economi whose weight role global |
| economi | dynam economi mani emerg market | economi | whose weight role global economi |
| global | market economi whose weight role | global | economi increas object remain agre |
| economi | economi whose weight role global | economi | increas object remain agre new |
| also | annual meet later spring meet | also | set train legal work necessari |
| countri | basic vote safeguard posit lowincom | countri | also look way help voic |
| also | vote safeguard posit lowincom countri | also | look way help voic lowincom |
| countri | look way help voic lowincom | countri | africa heard clear increas staff |
| countri | work execut director repres african | countri | imf financ fund remain effect |
| financ | director repres african countri imf | financ | fund remain effect legitim must |
| financ | remain effect legitim must proper | financ | current financ model reli heavili |
| financ | legitim must proper financ current | financ | model reli heavili incom loan |
| financ | well lend public good must | financ | financ loan incom alon like |
| financ | lend public good must financ | financ | loan incom alon like neither |
| financ | cost institut work put fund | financ | sustain foot therefor central element |
| global | communism gave us possibl truli | global | economi unlik bretton wood arrang |
| economi | gave us possibl truli global | economi | unlik bretton wood arrang world |
| market | industri nation relat open capit | market | wasn long new world went |
| market | increas intern investor interest emerg | market | inde even develop countri includ |
| countri | emerg market inde even develop | countri | includ africa one view either |
| polici | sooner later background think two | polici | chapter book quit invalu provid |
| global | work intern financi architectur make | global | financi world safer place though |
| market | crisi year reason welldevelop capit | market | place mani emerg economi inde |
| economi | capit market place mani emerg | economi | inde stock domest issu bond |
| market | stock domest issu bond emerg | market | countri amount trillion make import |
| countri | domest issu bond emerg market | countri | amount trillion make import global |
| global | countri amount trillion make import | global | asset class strike sign improv |
| market | denomin local currenc dedic emerg | market | u mutual fund grown tenfold |
| market | mid stock domest secur emerg | market | economi increas estim gdp thus |
| economi | stock domest secur emerg market | economi | increas estim gdp thus mani |
| market | estim gdp thus mani emerg | market | seem aton investor eye expert |
| market | liquid view grow internation emerg | market | secur reflect import structur chang |
| global | import structur chang take place | global | economi global market includ notabl |
| economi | structur chang take place global | economi | global market includ notabl grow |
| global | chang take place global economi | global | market includ notabl grow integr |
| market | take place global economi global | market | includ notabl grow integr greater |
| market | grow integr greater role emerg | market | countri global economi grow sophist |
| countri | integr greater role emerg market | countri | global economi grow sophist financi |
| global | greater role emerg market countri | global | economi grow sophist financi market |
| economi | role emerg market countri global | economi | grow sophist financi market risk |
| market | global economi grow sophist financi | market | risk manag process help fact |
| market | process help fact mani emerg | market | substanti improv macroeconom financi polici |
| polici | market substanti improv macroeconom financi | polici | also taken advantag general favor |
| also | substanti improv macroeconom financi polici | also | taken advantag general favor environ |
| countri | reserv addit step prevent crise | countri | taken step improv process crisi |
| econom | test yet cours unexpect benign | econom | financi environ past year help |
| global | help ve fastest fiveyear period | global | growth recent time forthcom stanc |
| growth | ve fastest fiveyear period global | growth | recent time forthcom stanc intern |
| econom | signal import vote confid futur | econom | financi stabil advanc economi think |
| economi | futur econom financi stabil advanc | economi | think individu emerg market countri |
| market | advanc economi think individu emerg | market | countri capabl generat crisi countri |
| countri | economi think individu emerg market | countri | capabl generat crisi countri kind |
| countri | market countri capabl generat crisi | countri | kind general crisi saw mid |
| economi | mid selfgener reflect develop advanc | economi | critic advanc economi maintain environ |
| economi | develop advanc economi critic advanc | economi | maintain environ macro stabil preserv |
| growth | macro stabil preserv combin steadi | growth | low inflat lower current account |
| also | balanc steadi cooper way mediumterm | also | help current relat benign global |
| global | also help current relat benign | global | environ mani emerg market countri |
| market | benign global environ mani emerg | market | countri need borrow fund good |
| countri | global environ mani emerg market | countri | need borrow fund good news |
| need | environ mani emerg market countri | need | borrow fund good news fund |
| need | fund good news fund still | need | prepar time market access emerg |
| market | fund still need prepar time | market | access emerg market borrow could |
| market | prepar time market access emerg | market | borrow could becom constrain basi |
| need | sturzenegg zettelmey say imf liquid | need | deliv way faster effect incentivesfriend |
| market | agre inde thrust discuss emerg | market | member design financ instrument provid |
| financ | discuss emerg market member design | financ | instrument provid suffici predict flexibl |
| need | predict flexibl meet potenti larg | need | |
| global | gentlemen pleasur address forum time | global | economi offer opportun never also |
| economi | pleasur address forum time global | economi | offer opportun never also time |
| also | global economi offer opportun never | also | time understand financi risk get |
| global | get difficult goal point develop | global | financi market see imf also |
| market | goal point develop global financi | market | see imf also potenti risk |
| also | global financi market see imf | also | potenti risk pitfal ll particular |
| market | benign financi condit exampl mortgag | market | countri leverag loan use financ |
| countri | financi condit exampl mortgag market | countri | leverag loan use financ dramat |
| financ | market countri leverag loan use | financ | dramat increas leverag buyout particular |
| global | first highlight two longerterm trend | global | market fund recent address latest |
| market | highlight two longerterm trend global | market | fund recent address latest edit |
| global | fund recent address latest edit | global | financi stabil report pleas see |
| market | flow includ new role emerg | market | global financi institut last decad |
| global | includ new role emerg market | global | financi institut last decad crossbord |
| global | financi flow increas rapid either | global | output trade tripl around per |
| growth | driven three dramat chang rapid | growth | asset manag institut investor chang |
| global | behavior home bias declin broaden | global | investor base increas import role |
| market | base increas import role emerg | market | offici sector central bank sovereign |
| also | toler volatil longer term slide | also | general improv fundament polici framework |
| polici | slide also general improv fundament | polici | framework mani emerg market economi |
| market | fundament polici framework mani emerg | market | economi allow optim current low |
| economi | polici framework mani emerg market | economi | allow optim current low bond |
| economi | spread mere result upsw world | economi | also due wellfound improv creditworthi |
| also | mere result upsw world economi | also | due wellfound improv creditworthi see |
| market | said recent acceler flow emerg | market | countri challeng author past episod |
| countri | recent acceler flow emerg market | countri | challeng author past episod rapid |
| growth | challeng author past episod rapid | growth | intern capit flow led abrupt |
| global | abrupt revers favor circumst round | global | taken place offer littl guidanc |
| global | place offer littl guidanc robust | global | system signific sustain stress howev |
| global | influenc foreign direct invest multin | global | firm particip find might expect |
| market | grow govern reform mani emerg | market | improv attract invest destin china |
| market | share total fdi inflow emerg | market | countri perhap littl surpris primari |
| countri | total fdi inflow emerg market | countri | perhap littl surpris primari motiv |
| market | fdi gain presenc faster grow | market | rather immedi profit repatri profit |
| also | profit heavili influenc tax consider | also | high cost hedg emerg market |
| market | also high cost hedg emerg | market | deterr fdi underlin signific benefit |
| countri | deterr fdi underlin signific benefit | countri | develop financi infrastructur high cost |
| market | investor readi achiev exposur emerg | market | direct buy bond increas import |
| market | increas import innov abil financi | market | provid protect exposur emerg market |
| market | market provid protect exposur emerg | market | credit risk transfer instrument howev |
| market | credit risk transfer instrument howev | market | also remain untest volatil environ |
| also | risk transfer instrument howev market | also | remain untest volatil environ turn |
| global | remain untest volatil environ turn | global | financi institut proceed apac primarili |
| countri | life insur compani high incom | countri | well eastern europ latin america |
| global | last year slide term impact | global | find posit relationship increas crossbord |
| market | primarili bank perform although equiti | market | often skeptic merit internationallydiversifi bank |
| global | merger less clear cut look | global | perspect inde larg intern bank |
| global | transform like overal posit impact | global | financi stabil let set view |
| global | let set view current state | global | financi market global economi appear |
| market | view current state global financi | market | global economi appear set anoth |
| global | current state global financi market | global | economi appear set anoth strong |
| economi | state global financi market global | economi | appear set anoth strong year |
| growth | appear set anoth strong year | growth | expect balanc region slight lower |
| market | risk remain tilt downsid believ | market | credit risk risen albeit low |
| market | three area attent first emerg | market | econom fundament improv overal continu |
| econom | area attent first emerg market | econom | fundament improv overal continu observ |
| countri | continu observ pocket vulner particular | countri | capit flow financ larg current |
| financ | vulner particular countri capit flow | financ | larg current account deficit credit |
| growth | larg current account deficit credit | growth | rapid household credit expand breakneck |
| market | credit expand breakneck speed emerg | market | economi natur rais concern bank |
| economi | expand breakneck speed emerg market | economi | natur rais concern bank abil |
| market | increas lower credit rate emerg | market | bank corpor encourag increas investor |
| also | investor risk appetit see slide | also | noteworthi capit flow number countri |
| countri | also noteworthi capit flow number | countri | previous receiv littl interest foreign |
| countri | littl interest foreign investor particular | countri | subsaharan africa flow welcom sign |
| market | sign increas access intern capit | market | recent acceler crossbord flow also |
| also | market recent acceler crossbord flow | also | pose challeng author countri second |
| countri | flow also pose challeng author | countri | second area receiv lot media |
| market | deterior u sub prime mortgag | market | initi prompt sharp rise earli |
| market | question mortgag applic top hous | market | result vintag loan poorest qualiti |
| market | far decad slide sub prime | market | percent u mortgag market credit |
| market | prime market percent u mortgag | market | credit deterior also occur riskiest |
| also | u mortgag market credit deterior | also | occur riskiest segment alt mortgag |
| market | may caus distress local hous | market | situat appear suffici caus system |
| global | suffici caus system problem u | global | financi system due part dispers |
| market | dispers risk deriv structur credit | market | wide varieti investor howev two |
| market | fall lend standard u mortgag | market | make household vulner macroeconom shock |
| market | weak underwrit standard spread loan | market | final continu theme weaken lend |
| market | weaken lend standard leverag loan | market | expand rapid financ explos growth |
| financ | leverag loan market expand rapid | financ | explos growth privat equiti leverag |
| growth | market expand rapid financ explos | growth | privat equiti leverag buyout see |
| market | could assembl even compani billion | market | capit sign far market gone |
| market | billion market capit sign far | market | gone journalist surpris reader took |
| financ | healthi corpor balanc sheet easi | financ | seem reluct compani invest capit |
| financ | sign credit disciplin weaken deal | financ | becom stretch high leverag target |
| econom | target firm cours vulner slowdown | econom | activ rais credit risk bank |
| financ | greater size risk becom easier | financ | therebi put pressur bank relax |
| market | loan becom preval borrow exercis | market | power lender one know long |
| also | corpor credit cycl howev could | also | mean corpor borrow condit could |
| global | none risk constitut direct threat | global | financi stabil suffici advers event |
| market | carri trade highyield currenc suggest | market | particip expect low volatil environ |
| market | make like pattern increas benign | market | condit continu punctuat revers spike |
| financ | hand opportun seem abund debt | financ | cheap histor standard even riskiest |
| economi | standard even riskiest corpor world | economi | enjoy longest period sustain growth |
| growth | economi enjoy longest period sustain | growth | sinc forecast continu global contribut |
| global | sustain growth sinc forecast continu | global | contribut highest ratio profit gdp |
| market | profit gdp seen generat emerg | market | fundament policymak continu improv encourag |
| also | impati perform faster return invest | also | prospect hostil bid buyout approach |
| global | domest institut declin invest perspect | global | market seem prone period bout |
| market | institut declin invest perspect global | market | seem prone period bout turbul |
| global | perhap best summar current situat | global | corpor treasur quot charl dicken |
| polici | express necessarili repres imf imf | polici | great deal progress made integr |
| economi | deal progress made integr asian | economi | would like submit today experi |
| market | treati rome sign establish common | market | among six found member european |
| market | found member european communiti common | market | becam launch pad econom polit |
| econom | common market becam launch pad | econom | polit integr europ includ sever |
| countri | euro today eu consist twentyseven | countri | close million peopl deep trade |
| econom | mani achiev remain wide dispar | econom | structur incom level among member |
| countri | recent enlarg brought eu fold | countri | differ stage develop howev even |
| countri | stage develop howev even among | countri | adopt euro import differ persist |
| countri | euro import differ persist despit | countri | share common monetari polici busi |
| polici | despit countri share common monetari | polici | busi cycl remain imperfect synchron |
| market | sustain attent policymak level common | market | spur region integr europ nafta |
| economi | europ nafta done much bring | economi | unit state canada mexico closer |
| also | capit flow least fdi flow | also | boost nafta reduct trade barrier |
| also | develop region suppli chain asia | also | experienc deepen region integr notabl |
| countri | integr notabl last ten year | countri | region seen share intraregion trade |
| market | product varieti context larg domest | market | regard use note rise intraregion |
| countri | fulli account rise trade china | countri | region exampl good region suppli |
| also | chain work region financi integr | also | move ahead progress mute mani |
| market | includ chiang mai asian bond | market | initi intraregion financi flow portfolio |
| global | fair say asia integr fulli | global | financi market within region much |
| market | asia integr fulli global financi | market | within region much recent growth |
| growth | market within region much recent | growth | asia foreign asset portfolio occur |
| market | perhap expect us european financi | market | deep broad strong investor protect |
| market | experi europ north america common | market | suggest asean freetrad agreement built |
| countri | gradual elimin tariff barrier asean | countri | among expect spur region vertic |
| growth | perhap contribut welcom rebalanc region | growth | said much asia stand gain |
| global | stand gain even trade liber | global | scale word asean agreement seek |
| econom | dispar per capita incom speed | econom | transform remain larg asia larger |
| countri | asia larger among erm particip | countri | differ develop path diverg product |
| econom | gain larg resourc shift across | econom | sector import implic real exchang |
| polici | exchang rate capit flow macroeconom | polici | region context would unwis stage |
| polici | requir set support institut degre | polici | coordin asia lack moment sever |
| countri | coordin fashion perhap import doubt | countri | region see need ermstyl framework |
| need | import doubt countri region see | need | ermstyl framework framework cannot succeed |
| countri | framework framework cannot succeed particip | countri | fulli convinc best interest said |
| polici | region institut develop proceed macroeconom | polici | continu converg focus low inflat |
| also | suppli chain nonfdi flow could | also | spur fta includ intraregion bank |
| market | could lead strengthen domest financi | market | exampl greater domest borrow foreign |
| also | ensur agreement restrict good trade | also | includ servic notabl financi servic |
| financ | lot regard includ recent increas | financ | avail chiang mai initi launch |
| countri | initi launch panasian fund well | countri | fund asian bond market initi |
| market | well countri fund asian bond | market | initi region financi system linkag |
| need | linkag would benefit develop particular | need | done establish full currenc convert |
| countri | establish full currenc convert among | countri | region pursu develop region benchmark |
| market | enhanc breath depth bond deriv | market | allow crossbord risk manag creat |
| market | flow may contribut stronger domest | market | note key enhanc financi integr |
| market | financi integr lie deepen domest | market | enhanc domest financi polici particular |
| polici | domest market enhanc domest financi | polici | particular focus need area corpor |
| need | domest financi polici particular focus | need | area corpor govern investor right |
| market | improv supervis word stronger domest | market | deeper financi integr go hand |
| econom | compact mediumterm framework polit secur | econom | reform endors compact aim secur |
| polici | sustain analysi provid technic assist | polici | advic main monetari fiscal polici |
| polici | polici advic main monetari fiscal | polici | key structur reform septemb fund |
| econom | approv decemb support author broad | econom | reform program aim maintain macroeconom |
| growth | macroeconom stabil improv condit sustain | growth | medium term macroeconom framework standbi |
| econom | macroeconom framework standbi arrang under | econom | compon compact despit extrem difficult |
| econom | circumst iraqi author continu implement | econom | program taken courag measur includ |
| also | fuel subsidi except kerosen iraq | also | embark ambiti structur reform program |
| economi | program order make transit marketbas | economi | govern work modern public financi |
| also | modern payment system establish step | also | taken restructur stateown bank bring |
| also | number peopl unstabl secur situat | also | exact heavi toll economi disrupt |
| economi | situat also exact heavi toll | economi | disrupt normal function increas emigr |
| also | function increas emigr skill labor | also | hamper execut reconstruct invest project |
| econom | expect expans oil product keep | econom | growth low percent fuel shortag |
| growth | expans oil product keep econom | growth | low percent fuel shortag major |
| polici | first central bank iraq rais | polici | interest rate sharpli allow gradual |
| economi | appreci dinar measur aim dedollar | economi | order enhanc central bank control |
| also | central bank control monetari condit | also | reduc import inflat second govern |
| economi | limit inflationari pressur small nonoil | economi | third govern process facilit privat |
| market | eas shortag help reduc black | market | price first sign effect polici |
| polici | market price first sign effect | polici | encourag annual inflat rate februari |
| econom | progress made iraqi author strengthen | econom | polici undertak structur reform imf |
| polici | made iraqi author strengthen econom | polici | undertak structur reform imf execut |
| also | march meet period cover arrang | also | extend six month septemb order |
| growth | order provid time program achiev | growth | inflat object look ahead discuss |
| also | schedul begin summer iraqi author | also | indic intend request successor arrang |
| need | request successor arrang cover period | need | reach last stage pari club |
| also | debt reduct agreement decemb meantim | also | import make progress reach debt |
| countri | launch today intern compact iraq | countri | enter crucial period polit econom |
| econom | countri enter crucial period polit | econom | recoveri much remain done hope |
| econom | secur situat indispens condit futur | econom | develop fund readi contribut success |
| polici | intern compact iraq mediumterm macroeconom | polici | framework support standbi arrang possibl |
| polici | possibl successor arrang well provid | polici | advic technic assist area expertis |
| econom | standbi arrang provid valuabl inform | econom | develop iraq donor countri subscrib |
| countri | inform econom develop iraq donor | countri | subscrib intern compact iraq conclus |
| also | thank much pleasur distinguish compani | also | see old friend audienc global |
| global | also see old friend audienc | global | world greatest opportun greatest risk |
| global | area first trade trade lynchpin | global | growth sinc second world war |
| growth | first trade trade lynchpin global | growth | sinc second world war world |
| global | rise tide protection second financi | global | develop financi market worldwid past |
| market | second financi global develop financi | market | worldwid past two decad revolutionari |
| growth | strong competit financi system contribut | growth | unit state enabl extern deficit |
| financ | unit state enabl extern deficit | financ | smooth cheapli financi innov remain |
| growth | innov remain major sourc potenti | growth | global economi also risk financi |
| global | remain major sourc potenti growth | global | economi also risk financi market |
| economi | major sourc potenti growth global | economi | also risk financi market unaddress |
| also | sourc potenti growth global economi | also | risk financi market unaddress could |
| market | global economi also risk financi | market | unaddress could erod confid financi |
| growth | confid financi institut set back | growth | around world speak most financi |
| market | around world speak most financi | market | today keep focus confer most |
| market | keep focus confer most financi | market | risk unit state implic latin |
| countri | unit state implic latin american | countri | comment also appli countri global |
| also | implic latin american countri comment | also | appli countri global economi financi |
| countri | american countri comment also appli | countri | global economi financi market risk |
| global | countri comment also appli countri | global | economi financi market risk present |
| economi | comment also appli countri global | economi | financi market risk present advanc |
| market | appli countri global economi financi | market | risk present advanc emerg economi |
| economi | market risk present advanc emerg | economi | also say word trade issu |
| also | risk present advanc emerg economi | also | say word trade issu affect |
| countri | word trade issu affect everi | countri | world unit state major latin |
| countri | unit state major latin american | countri | play pivot role first let |
| market | let provid context say financi | market | week ago intern monetari fund |
| econom | intern monetari fund publish world | econom | outlook one main conclus review |
| global | outlook one main conclus review | global | economi potenti spillov econom slowdown |
| economi | one main conclus review global | economi | potenti spillov econom slowdown unit |
| econom | review global economi potenti spillov | econom | slowdown unit state global economi |
| global | spillov econom slowdown unit state | global | economi continu exist spillov current |
| economi | econom slowdown unit state global | economi | continu exist spillov current u |
| countri | slowdown unit state limit effect | countri | also found serious recess result |
| also | unit state limit effect countri | also | found serious recess result global |
| global | also found serious recess result | global | event exampl oil shock burst |
| also | state publish report releas time | also | flag risk concern global financi |
| global | time also flag risk concern | global | financi stabil report talk credit |
| market | financi stabil report talk credit | market | risk global financi market region |
| global | report talk credit market risk | global | financi market region econom outlook |
| market | credit market risk global financi | market | region econom outlook western hemispher |
| econom | risk global financi market region | econom | outlook western hemispher cover unit |
| market | advers event includ tighten financi | market | condit unit state major latin |
| economi | unit state major latin american | economi | financi market develop unit state |
| market | major latin american economi financi | market | develop unit state concern polici |
| polici | market develop unit state concern | polici | maker latin america see three |
| market | adjust rate segment subprim mortgag | market | may also affect similar alta |
| also | segment subprim mortgag market may | also | affect similar alta loan problem |
| market | may well extend downturn hous | market | also see signific risk recent |
| also | well extend downturn hous market | also | see signific risk recent increas |
| financ | increas larg privat equiti buyout | financ | rise proport debt well deterior |
| market | trigger reapprais risk would curtail | market | access broad lowerr corpor borrow |
| growth | borrow could advers affect invest | growth | prospect prolifer hedg fund global |
| global | growth prospect prolifer hedg fund | global | estim hedg fund fourteen time |
| market | fund bring consider benefit term | market | effici improv market liquid help |
| market | benefit term market effici improv | market | liquid help spread risk investor |
| market | hedg fund may becom correl | market | return recent cast doubt contribut |
| countri | watch implic concern unit state | countri | america risk unit state disrupt |
| market | risk unit state disrupt financi | market | fair clear made extern deficit |
| financ | clear made extern deficit difficult | financ | trigger disord unwind global imbal |
| global | difficult financ trigger disord unwind | global | imbal involv sharp depreci u |
| also | ramif would serious eventu would | also | damag countri especi major latin |
| countri | serious eventu would also damag | countri | especi major latin american economi |
| economi | countri especi major latin american | economi | part region econom outlook western |
| econom | latin american economi part region | econom | outlook western hemispher model number |
| global | latin america would fair resili | global | risk disord unwind global imbal |
| global | resili global risk disord unwind | global | imbal would larg impact growth |
| growth | global imbal would larg impact | growth | region compar baselin growth forecast |
| growth | impact growth region compar baselin | growth | forecast percent six largest latin |
| economi | percent six largest latin american | economi | argentina brazil chile colombia mexico |
| global | latin american output disord unwind | global | imbal would reduc growth  |
| growth | unwind global imbal would reduc | growth |  ¾ percent growth  |
| growth | reduc growth  ¾ percent | growth |  ½ percent much impact |
| market | much impact come tighten financi | market | condit simul widen high yield |
| polici | spread unit state basi point | polici | implic one obvious one order |
| global | one order oppos disord unwind | global | imbal everyon interest fund work |
| polici | meet washington particip set detail | polici | plan countri region gear toward |
| countri | particip set detail polici plan | countri | region gear toward reduc imbal |
| global | gear toward reduc imbal sustain | global | growth particip implement polici would |
| growth | toward reduc imbal sustain global | growth | particip implement polici would signific |
| polici | sustain global growth particip implement | polici | would signific step toward resolv |
| countri | reduc risk part latin american | countri | need continu reduc vulner financi |
| need | risk part latin american countri | need | continu reduc vulner financi market |
| market | need continu reduc vulner financi | market | shock studi indic flexibl exchang |
| polici | less prone shock sound fiscal | polici | also prioriti although fiscal posit |
| also | prone shock sound fiscal polici | also | prioriti although fiscal posit general |
| countri | posit general improv sinc sever | countri | recent experienc rapid increas current |
| also | keep spend control public debt | also | remain high percent gdp averag |
| polici | govern freedom implement countercycl fiscal | polici | need govern latin america posit |
| need | freedom implement countercycl fiscal polici | need | govern latin america posit yet |
| countri | yet although debt declin sever | countri | across region includ brazil colombia |
| market | take direct action head financi | market | risk cours much respons must |
| market | set rule game regard mortgag | market | import avoid heavyhand respons could |
| market | moreov consum protect household loan | market | need improv feder legisl may |
| need | consum protect household loan market | need | improv feder legisl may need |
| need | need improv feder legisl may | need | increas coverag consist financi educ |
| also | increas coverag consist financi educ | also | import mani area includ pension |
| need | regard privat equiti buyout regul | need | ensur growth leverag buyout market |
| growth | equiti buyout regul need ensur | growth | leverag buyout market fuel weaken |
| market | need ensur growth leverag buyout | market | fuel weaken credit standard regard |
| market | taken presidenti work group financi | market | risk control main investor due |
| need | exclus unsophist investor continu attent | need | paid ensur market risk comprehens |
| market | continu attent need paid ensur | market | risk comprehens assess increas complex |
| market | tim geithner recent speech structur | market | chang supervisor may need adapt |
| need | structur market chang supervisor may | need | adapt framework supervis improv investor |
| also | protect reduc system risk vulner | also | believ also import monitor develop |
| also | system risk vulner also believ | also | import monitor develop global hedg |
| global | believ also import monitor develop | global | hedg fund industri intern multilater |
| growth | trade tend product higher employ | growth | pay higher wage domesticallyori firm |
| countri | studi base specif industri various | countri | studi show trade liber rais |
| growth | rais labor product industri contribut | growth | immedi prioriti bring doha round |
| also | result decis import unit state | also | rest world govern latin america |
| also | america especi brazil member g | also | play import role also scope |
| also | g also play import role | also | scope expand trade within latin |
| countri | exampl emerg asia share export | countri | within region increas steadili percent |
| countri | agreement includ unit state individu | countri | latin america led import benefit |
| economi | offer broadest benefit region world | economi | america increas link financi flow |
| countri | common interest measur propos interest | countri | would need take well broader |
| need | measur propos interest countri would | need | take well broader global interest |
| global | would need take well broader | global | interest good thing basic axiom |
| econom | interest good thing basic axiom | econom | selfinterest work better altruism generat |
| global | three kind analysi regular monitor | global | economi financi market publish view |
| economi | kind analysi regular monitor global | economi | financi market publish view twice |
| market | regular monitor global economi financi | market | publish view twice year world |
| econom | publish view twice year world | econom | outlook global financi stabil report |
| global | twice year world econom outlook | global | financi stabil report look region |
| economi | financi stabil report look region | economi | publish region econom outlook latin |
| econom | look region economi publish region | econom | outlook latin america caribbean also |
| also | econom outlook latin america caribbean | also | look economi individu countri exchang |
| economi | latin america caribbean also look | economi | individu countri exchang inform analysi |
| countri | caribbean also look economi individu | countri | exchang inform analysi constant govern |
| countri | constant govern central bank everi | countri | latin america layer analysi inform |
| countri | simpl answer latin america well | countri | latin america better done mani |
| growth | well region enjoy period solid | growth | low inflat real econom growth |
| econom | solid growth low inflat real | econom | growth around  ½ percent |
| growth | growth low inflat real econom | growth | around  ½ percent expect |
| growth | around  ½ percent expect | growth | percent  ¼ percent would |
| growth | current expans best sustain strong | growth | region sinc region inflat also |
| also | growth region sinc region inflat | also | declin period growth averag inflat |
| growth | region inflat also declin period | growth | averag inflat region drop percent |
| countri | year expect edg bit especi | countri | high capac util expect remain |
| econom | success owe great deal good | econom | polici fiscal posit much stronger |
| polici | owe great deal good econom | polici | fiscal posit much stronger earlier |
| countri | posit much stronger earlier expans | countri | flexibl exchang regim help absorb |
| growth | lower real interest rate support | growth | discuss later spread democraci region |
| econom | spread democraci region good good | econom | polici region also help favor |
| polici | democraci region good good econom | polici | region also help favor extern |
| also | good good econom polici region | also | help favor extern develop mani |
| countri | extern develop mani latin american | countri | seen economi boost high price |
| economi | mani latin american countri seen | economi | boost high price commod export |
| global | high price commod export good | global | financi market condit made possibl |
| market | commod export good global financi | market | condit made possibl region obtain |
| financ | condit made possibl region obtain | financ | better term previous year strong |
| global | better term previous year strong | global | growth last five year result |
| growth | term previous year strong global | growth | last five year result strong |
| also | may seem surpris polit dissatisfact | also | rise latin america phenomenon call |
| countri | phenomenon leader populist agenda elect | countri | last year sever countri govern |
| countri | elect countri last year sever | countri | govern strong public commit reform |
| also | public commit reform elect reelect | also | distinct populist reformist obscur mani |
| polici | populist reformist obscur mani nuanc | polici | favor differ govern exampl govern |
| econom | govern exampl govern nicaragua work | econom | program discuss fund may support |
| growth | fund may support poverti reduct | growth | facil nevertheless concern voter mani |
| countri | facil nevertheless concern voter mani | countri | express past year reveal genuin |
| econom | past year reveal genuin sourc | econom | discont despit progress recent year |
| growth | despit progress recent year rate | growth | emerg economi latin america region |
| economi | recent year rate growth emerg | economi | latin america region rate growth |
| growth | economi latin america region rate | growth | lowincom countri latin america need |
| countri | america region rate growth lowincom | countri | latin america need achiev millennium |
| need | growth lowincom countri latin america | need | achiev millennium develop goal exampl |
| growth | achiev millennium develop goal exampl | growth | latin america last eight year |
| growth | emerg asia percent meanwhil benefit | growth | latin america uneven distribut level |
| countri | poverti inequ still high mani | countri | question best polici address problem |
| polici | high mani countri question best | polici | address problem answer polici need |
| polici | best polici address problem answer | polici | need maintainor increaseproduct growth also |
| need | polici address problem answer polici | need | maintainor increaseproduct growth also make |
| growth | answer polici need maintainor increaseproduct | growth | also make sure fruit growth |
| also | polici need maintainor increaseproduct growth | also | make sure fruit growth wide |
| growth | growth also make sure fruit | growth | wide share first part equationincreas |
| countri | distil three clear messag first | countri | need maintain macroeconom stabil across |
| need | three clear messag first countri | need | maintain macroeconom stabil across world |
| countri | across latin america clear evid | countri | high inflat exchang rate depreci |
| growth | rate depreci tend experi shorter | growth | spell also subject social disrupt |
| also | tend experi shorter growth spell | also | subject social disrupt instabl breed |
| global | instabl breed discont much concern | global | latin america come countri suffer |
| countri | concern global latin america come | countri | suffer financi crise immedi caus |
| also | bank system instabl especi inflat | also | breed inequ rich suffer inflat |
| polici | pocket maintain stabil sound fiscal | polici | particular import concern rapid increas |
| countri | increas current govern spend sever | countri | recent year import govern keep |
| also | keep spend control public debt | also | remain high percent gdp averag |
| polici | govern freedom implement countercycl fiscal | polici | need govern latin america posit |
| need | freedom implement countercycl fiscal polici | need | govern latin america posit yet |
| countri | yet although debt declin sever | countri | across region includ brazil colombia |
| growth | peru second messag trade bring | growth | global level much world postworld |
| global | second messag trade bring growth | global | level much world postworld war |
| global | war ii prosper attribut increas | global | trade region countri becom integr |
| countri | attribut increas global trade region | countri | becom integr global economi pursu |
| global | trade region countri becom integr | global | economi pursu trade good servic |
| economi | region countri becom integr global | economi | pursu trade good servic vigor |
| global | good servic vigor prosper increas | global | world experi emerg economi asia |
| economi | increas global world experi emerg | economi | asia case point true latin |
| countri | studi base specif industri various | countri | studi show trade liber also |
| also | countri studi show trade liber | also | privat rais labor product industri |
| growth | rais labor product industri contribut | growth | effect combin macroeconom stabil structur |
| growth | manag highest per capita incom | growth | region great scope expand trade |
| countri | emerg asia share total export | countri | within region increas steadili percent |
| econom | around percent third messag polit | econom | institut matter one strike posit |
| econom | decad blossom democraci good good | econom | polici whatev detail program elect |
| polici | blossom democraci good good econom | polici | whatev detail program elect govern |
| countri | accompani stronger macroeconom manag mani | countri | general increas accept institut structureth |
| econom | arrang formal inform set framework | econom | polici commerc polit lifehav great |
| polici | formal inform set framework econom | polici | commerc polit lifehav great influenc |
| countri | commerc polit lifehav great influenc | countri | growth prospect asid broad polit |
| growth | polit lifehav great influenc countri | growth | prospect asid broad polit institut |
| econom | asid broad polit institut includ | econom | institut independ central bank reliabl |
| growth | part equat make sure fruit | growth | wide share econom inequ grew |
| econom | sure fruit growth wide share | econom | inequ grew much latin america |
| countri | region one way latin american | countri | tackl problem realloc spend toward |
| also | upperincom group let give exampl | also | structur reform govern make would |
| growth | would address social issu increas | growth | increas product let take two |
| global | exampl subject today latin america | global | context believ latin america futur |
| countri | pursu macroeconom stabil latin american | countri | insul downturn also increas growth |
| also | latin american countri insul downturn | also | increas growth pursu trade integr |
| growth | countri insul downturn also increas | growth | pursu trade integr global economi |
| global | increas growth pursu trade integr | global | economi creat new opportun employ |
| economi | growth pursu trade integr global | economi | creat new opportun employ citizen |
| also | creat new opportun employ citizen | also | increas growth strengthen polit institut |
| growth | opportun employ citizen also increas | growth | strengthen polit institut promot stabil |
| also | stabil creat broader constitu reform | also | increas growth take action reduc |
| growth | broader constitu reform also increas | growth | take action reduc poverti inequ |
| growth | action reduc poverti inequ increas | growth | also improv live need growth |
| also | reduc poverti inequ increas growth | also | improv live need growth latin |
| need | increas growth also improv live | need | growth latin america futur entir |
| growth | growth also improv live need | growth | latin america futur entir hand |
| growth | region view see half variat | growth | latin america past fifteen year |
| global | shift intern interest rate spread | global | growth zoom take global view |
| growth | intern interest rate spread global | growth | zoom take global view see |
| global | spread global growth zoom take | global | view see prosper latin america |
| also | view see prosper latin america | also | rest world depend larg part |
| global | depend larg part decis taken | global | level major economi world reach |
| economi | decis taken global level major | economi | world reach agreement trade liber |
| market | ambiti conclus doha round financi | market | condit remain support growth privat |
| growth | financi market condit remain support | growth | privat sector particip market govern |
| market | support growth privat sector particip | market | govern regulatori agenc supervis oblig |
| global | oblig awar risk address earli | global | economi remain good shape govern |
| economi | awar risk address earli global | economi | remain good shape govern central |
| global | govern central bank help address | global | issu global econom imbal global |
| global | bank help address global issu | global | econom imbal global climat chang |
| econom | help address global issu global | econom | imbal global climat chang intern |
| global | global issu global econom imbal | global | climat chang intern monetari fund |
| economi | monetari fund provid view world | economi | mani level provid guidanc member |
| countri | guidanc member get want go | countri | world must choos destin follow |
| econom | econom | outlook cyclic solid structur tentat | |
| polici | financi condit strengthen credibl macroeconom | polici | framework progress structur reform downsid |
| growth | risk main extern financi potenti | growth | remain limbo advanc economi fail |
| economi | potenti growth remain limbo advanc | economi | fail make notabl inroad close |
| market | gdp encourag recent labor product | market | reform made progress reduc structur |
| need | remain low contin sign much | need | reviv product growth tentat best |
| growth | sign much need reviv product | growth | tentat best monetari fiscal polici |
| polici | growth tentat best monetari fiscal | polici | ensur last good time monetari |
| economi | contain output gap close advanc | economi | central bank like need continu |
| need | advanc economi central bank like | need | continu withdraw monetari accommod emerg |
| countri | continu withdraw monetari accommod emerg | countri | monetari polici avail gradual tighten |
| polici | monetari accommod emerg countri monetari | polici | avail gradual tighten monetari condit |
| need | condit seem warrant fiscal outcom | need | fulli reflect favor outlook structur |
| global | bring product train track face | global | strengthen intern cohes dynam europ |
| need | strengthen intern cohes dynam europ | need | proactiv carri farfromfinish structur reform |
| economi | farfromfinish structur reform agenda converg | economi | need deliv higher growth potenti |
| need | structur reform agenda converg economi | need | deliv higher growth potenti investor |
| growth | converg economi need deliv higher | growth | potenti investor anticip success requir |
| market | structur reform make labor product | market | flexibl facilit realloc resourc converg |
| market | invit first particip lac meet | market | confer first new role want |
| econom | wood institut doubt ve good | econom | perform latin america recent year |
| polici | part good luck part good | polici | regardless make split role favor |
| polici | split role favor environ role | polici | improv would argu soon satisfi |
| econom | let start fact region recent | econom | perform region growth due good |
| growth | region recent econom perform region | growth | due good luck form favor |
| global | luck form favor extern environmentstrong | global | growth high commod price ampl |
| growth | form favor extern environmentstrong global | growth | high commod price ampl access |
| financ | commod price ampl access intern | financ | low borrow spread good polici |
| polici | financ low borrow spread good | polici | also deserv credit sure improv |
| also | low borrow spread good polici | also | deserv credit sure improv macroeconom |
| polici | deserv credit sure improv macroeconom | polici | encourag polici framework countri proven |
| polici | sure improv macroeconom polici encourag | polici | framework countri proven resili polit |
| countri | macroeconom polici encourag polici framework | countri | proven resili polit transit split |
| polici | transit split good luck good | polici | difficult imposs precis suggest evid |
| polici | extern shock improv macroeconom financi | polici | diversifi export need continu moreov |
| need | macroeconom financi polici diversifi export | need | continu moreov mention outset reason |
| growth | earli declar victori base recent | growth | perform let elabor first region |
| econom | perform let elabor first region | econom | growth continu lag much world |
| growth | let elabor first region econom | growth | continu lag much world second |
| growth | sustain current perform rais product | growth | invest rate requir region continu |
| also | challeng abl address distribut concern | also | improv growth perform outlook latin |
| growth | address distribut concern also improv | growth | perform outlook latin america caribbean |
| growth | time lock virtuous circl reform | growth | better distribut incom |
| economi | interest sometim paradox time world | economi | grew percent last year financi |
| market | grew percent last year financi | market | fell percent singl day financi |
| global | fell percent singl day financi | global | given billion peopl access world |
| market | billion peopl access world capit | market | given investor opportun never imbal |
| economi | investor opportun never imbal major | economi | remain larg increas willing take |
| global | risk polit event could disrupt | global | economi remain businesspeopl financi crisscross |
| economi | polit event could disrupt global | economi | remain businesspeopl financi crisscross globe |
| global | go airport must take shoe | global | economi think risk greater six |
| economi | airport must take shoe global | economi | think risk greater six month |
| global | think strike combin opportun risk | global | bring mean need fund attent |
| need | opportun risk global bring mean | need | fund attent challeng member face |
| global | ago peterson institut held seminar | global | imbal focus heavili exchang rate |
| polici | independ evalu offic exchang rate | polici | advic period listen advic continu |
| also | period listen advic continu listen | also | act one import part mediumterm |
| polici | board decis surveil exchang rate | polici | goal propos updat decis creat |
| countri | deepen analysi exchang rate spillov | countri | market includ consult group exchang |
| market | analysi exchang rate spillov countri | market | includ consult group exchang rate |
| polici | choic exchang rate regim intervent | polici | exchang rate level inde world |
| global | exchang rate level inde world | global | financi market limit countri influenc |
| market | level inde world global financi | market | limit countri influenc exchang rate |
| countri | world global financi market limit | countri | influenc exchang rate level day |
| financ | exchang rate level day group | financ | minist could sit hotel room |
| polici | currenc valu minist work togeth | polici | bring second issu want talk |
| global | year ago initi multilater consult | global | imbal goal process bring key |
| global | discuss intend produc rapid adjust | global | imbal inde over rapid adjust |
| global | approach tend produc gradual reduct | global | imbal pleas tell particip activ |
| market | discuss progress integr work financi | market | financi sector work macroeconom issu |
| market | macroeconom issu increas import financi | market | growth develop countri major featur |
| growth | issu increas import financi market | growth | develop countri major featur new |
| countri | import financi market growth develop | countri | major featur new world global |
| global | countri major featur new world | global | particular import emerg market countri |
| market | world global particular import emerg | market | countri lot gain financi integr |
| countri | global particular import emerg market | countri | lot gain financi integr may |
| also | lot gain financi integr may | also | becom vulner integr global market |
| global | may also becom vulner integr | global | market fund taken lead identifi |
| market | also becom vulner integr global | market | fund taken lead identifi strength |
| countri | bank advanc work monitor individu | countri | economi enhanc analysi financi sector |
| economi | advanc work monitor individu countri | economi | enhanc analysi financi sector vulner |
| polici | vulner ensur reflect macroeconom analysi | polici | advic monitor global economi devot |
| global | macroeconom analysi polici advic monitor | global | economi devot attent linkag financi |
| economi | analysi polici advic monitor global | economi | devot attent linkag financi sector |
| economi | attent linkag financi sector real | economi | see fruit effort sever way |
| market | yen carri trade u mortgag | market | growth leverag buyout said inform |
| growth | carri trade u mortgag market | growth | leverag buyout said inform bodi |
| also | said inform bodi analyt work | also | reflect global financi stabil report |
| global | bodi analyt work also reflect | global | financi stabil report publish tomorrow |
| market | see role fund role offer | market | commentari plenti other risk financi |
| econom | other risk financi stabil stem | econom | develop risk econom growth stem |
| econom | stabil stem econom develop risk | econom | growth stem financi market develop |
| growth | stem econom develop risk econom | growth | stem financi market develop fund |
| market | risk econom growth stem financi | market | develop fund assess risk help |
| polici | fund assess risk help formul | polici | respons member express interest second |
| global | multilater consult foster dialogu financi | global | innov influenc growth econom stabil |
| growth | dialogu financi global innov influenc | growth | econom stabil consult might cover |
| econom | financi global innov influenc growth | econom | stabil consult might cover exampl |
| polici | might cover exampl macroeconom prudenti | polici | countri affect emerg develop economi |
| countri | cover exampl macroeconom prudenti polici | countri | affect emerg develop economi abil |
| economi | polici countri affect emerg develop | economi | abil benefit global particip limit |
| global | emerg develop economi abil benefit | global | particip limit risk crisi imfc |
| market | instrument would use use emerg | market | would broad support believ mechan |
| also | sens urgenc membership move slowli | also | make progress chang work lowincom |
| countri | make progress chang work lowincom | countri | central proposit fund effect work |
| countri | proposit fund effect work lowincom | countri | focus best task make greatest |
| also | report malan committe fundbank collabor | also | point direct execut board alreadi |
| countri | fund certain continu engag lowincom | countri | expect fund experi grow interest |
| polici | experi grow interest among member | polici | support initi design lowincom countri |
| countri | polici support initi design lowincom | countri | member need want fund financi |
| need | initi design lowincom countri member | need | want fund financi support balanc |
| need | fund financi support balanc payment | need | lowincom countri gone away mani |
| countri | support balanc payment need lowincom | countri | gone away mani countri longterm |
| countri | lowincom countri gone away mani | countri | longterm intract longerterm concession financ |
| financ | countri longterm intract longerterm concession | financ | provid poverti reduct growth facil |
| growth | concession financ provid poverti reduct | growth | facil remain import member support |
| also | facil remain import member support | also | need complement econom analysi work |
| need | remain import member support also | need | complement econom analysi work capac |
| econom | member support also need complement | econom | analysi work capac build technic |
| also | work reduc expenditur real term | also | consid chang incom model fund |
| need | consid chang incom model fund | need | adequ financ reform fund financ |
| financ | incom model fund need adequ | financ | reform fund financ key part |
| financ | need adequ financ reform fund | financ | key part mediumterm strategi broader |
| financ | report group emin person studi | financ | fund oper appoint committe clear |
| need | charg lend longer adequ meet | need | institut interest member bank whose |
| countri | profit job prevent crise help | countri | emerg quick possibl occur hard |
| financ | quick possibl occur hard justifi | financ | model better fund job prevent |
| financ | fund sustain durabl incom base | financ | activ includ surveil technic assist |
| polici | broaden rang fund invest line | polici | world bank rais averag return |
| financ | fund quota resourc current use | financ | lend sell small proport fund |
| also | hold gold invest proceed committe | also | suggest consid charg servic technic |
| also | china korea mexico turkey governor | also | agre next stage must involv |
| countri | member make sure represent lowincom | countri | protect voic strengthen discuss execut |
| global | fund captur member relat posit | global | economi result calcul quota share |
| economi | captur member relat posit global | economi | result calcul quota share broad |
| also | quota share broad accept membership | also | set train legal work necessari |
| countri | basic vote safeguard posit lowincom | countri | board discuss increas administr resourc |
| global | sustain progress polit leader think | global | imbal import complac financi market |
| market | global imbal import complac financi | market | develop difficult persuad take action |
| need | develop difficult persuad take action | need | sustain global prosper also concern |
| global | persuad take action need sustain | global | prosper also concern may insuffici |
| also | action need sustain global prosper | also | concern may insuffici appreci need |
| need | also concern may insuffici appreci | need | action financi market live dri |
| market | insuffici appreci need action financi | market | live dri forest market develop |
| market | financi market live dri forest | market | develop produc increas awar danger |
| also | continu work come month complac | also | potenti hurdl major polici initi |
| polici | complac also potenti hurdl major | polici | initi includ reform fund financ |
| financ | polici initi includ reform fund | financ | reform fund govern member fund |
| financ | object almost chang consid fund | financ | model quota requir larg major |
| need | press prefer approach expens consensus | need | make chang go forward hope |
| need | spirit multilater saw singapor chang | need | won easi need skill execut |
| need | singapor chang need won easi | need | skill execut board member minist |
| also | braver abraham lincoln high hope | also | make predict thank much |
| econom | let turn welcom imf new | econom | counselor re absolut delight helm |
| countri | consist among world fastest grow | countri | recent gdp growth exceed percent |
| growth | fastest grow countri recent gdp | growth | exceed percent four straight year |
| growth | percent four straight year hearten | growth | rescu sever hundr million abject |
| countri | tripl world trade trifl similar | countri | sustain high growth done point |
| growth | trifl similar countri sustain high | growth | done point come clear work |
| growth | friend spenc colleagu complet commiss | growth | develop work coincident present today |
| growth | present today new york look | growth | miracl defin growth year sustain |
| growth | york look growth miracl defin | growth | year sustain year everi one |
| growth | one miracl export sector driver | growth | increas share trade gdp except |
| growth | share trade gdp except everi | growth | miracl involv leverag demand resourc |
| global | miracl involv leverag demand resourc | global | economi cours resourc mobil also |
| economi | involv leverag demand resourc global | economi | cours resourc mobil also vital |
| also | global economi cours resourc mobil | also | vital product china enhanc move |
| also | extern sector continu vital china | also | begin look inward sustain growth |
| growth | also begin look inward sustain | growth | long run happili exact direct |
| also | role support demand age popul | also | place larg immedi demand financi |
| countri | age grow faster china major | countri | number retire predict doubl develop |
| growth | number retire children respons support | growth | also need inclus chines author |
| also | retire children respons support growth | also | need inclus chines author note |
| need | children respons support growth also | need | inclus chines author note need |
| need | need inclus chines author note | need | better balanc rural urban area |
| also | better balanc rural urban area | also | eastern western region china rural |
| growth | mani occas environment consequ rapid | growth | must address seven world pollut |
| need | pollut enhanc enforc environment regul | need | econom decis energi land use |
| econom | enhanc enforc environment regul need | econom | decis energi land use reflect |
| global | focus inward cours implic rest | global | economi china look inward provid |
| economi | inward cours implic rest global | economi | china look inward provid vast |
| market | look inward provid vast dynam | market | rest world china need natur |
| need | dynam market rest world china | need | natur resourc raw materi continu |
| countri | materi continu boost prospect resourceexport | countri | addit china incom grow opportun |
| also | incom grow opportun foreign produc | also | expand includ doubt provis servic |
| also | expand includ doubt provis servic | also | implic global imbal lower save |
| global | doubt provis servic also implic | global | imbal lower save relat invest |
| growth | save rate reflect rather remark | growth | household net worth unexpect surg |
| countri | abat rebalanc domest demand across | countri | one factor help bring gradual |
| global | factor help bring gradual unwind | global | imbal import care research china |
| also | target membership region world thank | also | emin speaker brazil czech republ |
| also | particip next three day imf | also | run workshop inflat forecast issu |
| countri | forecast issu central bank expert | countri | region initi believ offer appropri |
| polici | broaden interest inflat target monetari | polici | strategi emerg market develop countri |
| market | target monetari polici strategi emerg | market | develop countri second comment macroeconom |
| countri | polici strategi emerg market develop | countri | second comment macroeconom perform inflat |
| market | macroeconom perform inflat target emerg | market | develop economi past decad third |
| economi | inflat target emerg market develop | economi | past decad third suggest lesson |
| countri | third suggest lesson might draw | countri | includ maghreb middl east regard |
| countri | speak littl imf role assist | countri | develop inflat target framework spread |
| countri | target framework spread inflat target | countri | pursu direct inflat target emerg |
| market | pursu direct inflat target emerg | market | develop economi discuss imf member |
| economi | inflat target emerg market develop | economi | discuss imf member also appar |
| also | develop economi discuss imf member | also | appar mani emerg market develop |
| market | member also appar mani emerg | market | develop countri would serious like |
| countri | appar mani emerg market develop | countri | would serious like follow suit |
| market | increas intern integr good financi | market | common factor behind monetari polici |
| polici | market common factor behind monetari | polici | regim chang mani countri decid |
| countri | monetari polici regim chang mani | countri | decid flexibl exchang rate framework |
| econom | framework better suit cushion domest | econom | perform extern disturb fix exchang |
| polici | regim requir identifi benchmark monetari | polici | establish clear nomin anchor inflat |
| market | second innov financi product financi | market | behavior includ associ capit account |
| market | liber develop modern financi system | market | inevit affect relationship financi activ |
| economi | affect relationship financi activ real | economi | circumst money credit aggreg may |
| growth | intermedi monetari target achiev inflat | growth | object third fair broad accept |
| growth | accept worldwid high inflat bad | growth | equit distribut incom put keep |
| polici | distribut incom put keep fiscal | polici | sustain track import benefici achiev |
| polici | autonomi transpar account help build | polici | credibl result better outcom inflat |
| growth | credibl result better outcom inflat | growth | perform last inflat target experi |
| countri | last inflat target experi industri | countri | wide consid success model adapt |
| polici | adapt inflat target seen provid | polici | credibl flexibl result better inflat |
| growth | credibl flexibl result better inflat | growth | perform countri togeth increas resili |
| countri | result better inflat growth perform | countri | togeth increas resili shock although |
| countri | although adopt inflat target industri | countri | general regard success adopt emerg |
| market | general regard success adopt emerg | market | develop countri controversi debat focus |
| countri | success adopt emerg market develop | countri | controversi debat focus three main |
| polici | work well better altern monetari | polici | framework nonindustri economi particular concern |
| economi | altern monetari polici framework nonindustri | economi | particular concern whether achiev better |
| growth | perform like come cost poorer | growth | perform second question precondit need |
| need | growth perform second question precondit | need | met whether like demand emerg |
| market | met whether like demand emerg | market | develop countri third question whether |
| countri | like demand emerg market develop | countri | third question whether emerg market |
| market | countri third question whether emerg | market | develop countri sustain inflat target |
| countri | question whether emerg market develop | countri | sustain inflat target less benign |
| global | sustain inflat target less benign | global | macroeconom environ lead substanti increas |
| market | environ lead substanti increas financi | market | volatil compar experienc recent year |
| countri | insid imf though draw experi | countri | like brazil czech republ korea |
| market | start answer question experi emerg | market | develop economi grow number studi |
| economi | question experi emerg market develop | economi | grow number studi includ imf |
| econom | number studi includ imf world | econom | outlook publish last septemb suggest |
| market | septemb suggest inflat target emerg | market | develop countri associ better macroeconom |
| countri | inflat target emerg market develop | countri | associ better macroeconom perform altern |
| polici | better macroeconom perform altern monetari | polici | framework otherwis similar economi period |
| economi | monetari polici framework otherwis similar | economi | period emerg market develop countri |
| market | otherwis similar economi period emerg | market | develop countri whether target inflat |
| countri | economi period emerg market develop | countri | whether target inflat perform much |
| growth | inflat perform much better term | growth | inflat sinc evid also show |
| also | term growth inflat sinc evid | also | show adopt inflat target tend |
| growth | bigger improv other term inflat | growth | perform still certain extent better |
| countri | better macroeconom perform inflat target | countri | credit sole chang monetari polici |
| polici | countri credit sole chang monetari | polici | regim countri target inflat chang |
| countri | sole chang monetari polici regim | countri | target inflat chang monetari framework |
| polici | part much widerang set structur | polici | reform includ substanti fiscal consolid |
| countri | fiscal consolid may profound nontarget | countri | therefor difficult attribut better econom |
| econom | countri therefor difficult attribut better | econom | perform monetari polici alon overal |
| polici | attribut better econom perform monetari | polici | alon overal find general favor |
| market | guarante work well everi emerg | market | develop countri suggest grow interest |
| countri | well everi emerg market develop | countri | suggest grow interest inflat target |
| polici | target within broader context institut | polici | reform favor overal experi inflat |
| countri | favor overal experi inflat target | countri | mean problem let highlight two |
| countri | two particular issu problemat sever | countri | first perenni issu open economi |
| economi | countri first perenni issu open | economi | includ inflat target role exchang |
| market | object chile hungari romania exampl | market | test central bank commit inflat |
| polici | object eventu howev privat sector | polici | maker need accept intern cost |
| need | howev privat sector polici maker | need | accept intern cost competit fundament |
| need | wage profit address under issu | need | rais product differ industri countri |
| countri | need rais product differ industri | countri | second inflat target countri immun |
| countri | industri countri second inflat target | countri | immun disrupt shift investor sentiment |
| market | shift investor sentiment consequ exchang | market | ultim growth inflat perform framework |
| growth | sentiment consequ exchang market ultim | growth | inflat perform framework turbul trigger |
| market | investor sentiment either toward emerg | market | case howev domest factor play |
| polici | develop relat concern futur fiscal | polici | appear play key role last |
| also | key role last year iceland | also | experienc exchang market pressur reflect |
| market | year iceland also experienc exchang | market | pressur reflect concern larg current |
| growth | sector vulner associ rapid credit | growth | case howev turbul led breakdown |
| polici | case howev turbul led breakdown | polici | framework occur exchang rate peg |
| also | inde episod howev pain time | also | strengthen polici credibl central bank |
| polici | howev pain time also strengthen | polici | credibl central bank keep focus |
| market | inflat target framework mani emerg | market | develop economi yet test volatil |
| economi | framework mani emerg market develop | economi | yet test volatil tri global |
| global | economi yet test volatil tri | global | macroeconom financi market environ issu |
| market | volatil tri global macroeconom financi | market | environ issu inflat target emerg |
| market | environ issu inflat target emerg | market | develop economi lesson countri consid |
| economi | inflat target emerg market develop | economi | lesson countri consid move inflat |
| countri | emerg market develop economi lesson | countri | consid move inflat target draw |
| market | inflat target draw experi emerg | market | develop nation inflat target institut |
| need | issu argu long list precondit | need | met start inflat target other |
| market | manufactur mantra ing experi emerg | market | countri inde industri nation adopt |
| countri | mantra ing experi emerg market | countri | inde industri nation adopt inflat |
| need | nation adopt inflat target suggest | need | think littl bit differ precondit |
| need | inflat target basic issu condit | need | met conduct independ monetari polici |
| polici | need met conduct independ monetari | polici | rather exchang rate peg basic |
| need | appear follow first central bank | need | autonomi associ account requir pursu |
| polici | account requir pursu clear mandat | polici | object support govern context emphas |
| polici | sens agreement object import credibl | polici | financi market govern support also |
| market | object import credibl polici financi | market | govern support also essenti activ |
| also | polici financi market govern support | also | essenti activ sens particular fiscal |
| need | inflat object second central bank | need | effect instrument influenc domest spend |
| countri | influenc domest spend save behavior | countri | adopt inflat target date central |
| polici | date central bank implement monetari | polici | primarili shortterm money market order |
| market | monetari polici primarili shortterm money | market | order influenc retail interest rate |
| market | rate turn requir function financi | market | well reason stabl financi system |
| countri | note relev increas emphasi maghreb | countri | place strengthen financi system reflect |
| countri | sector reform financi integr maghreb | countri | held last decemb rabat third |
| polici | last decemb rabat third monetari | polici | act lag import policymak abl |
| econom | fundament requir central bank adequ | econom | financi data reason understand monetari |
| polici | financi data reason understand monetari | polici | affect inflat well appropri analyt |
| polici | appli virtual meaning independ monetari | polici | inflat target experi emerg market |
| market | polici inflat target experi emerg | market | inflat target suggest condit larg |
| market | workabl inflat target framework emerg | market | countri becom standard practic modifi |
| countri | inflat target framework emerg market | countri | becom standard practic modifi central |
| also | strengthen analyt forecast capabl substanti | also | increas transpar great develop comprehens |
| countri | element refer littl doubt along | countri | develop element prior adopt inflat |
| polici | prior adopt inflat target credibl | polici | framework better macroeconom perform like |
| also | target present especi fiscal domin | also | concern transmiss channel monetari polici |
| polici | also concern transmiss channel monetari | polici | partial block due low privat |
| also | order strengthen incent central bank | also | publish rank best short medium |
| also | short medium term forecast brazil | also | vulner extern posit made quit |
| polici | fiscal domin prove exagger fiscal | polici | adjust well weak transmiss channel |
| polici | regim mark major improv monetari | polici | transpar instrument anchor inflat expect |
| countri | wish conclud talk imf assist | countri | prepar adopt inflat target imf |
| countri | imf sever avenu help member | countri | develop inflat target framework could |
| countri | iv consult may assist member | countri | draw road map toward inflat |
| also | target similar fund program may | also | includ support develop inflat target |
| also | framework bilater technic cooper mission | also | use assist countri design develop |
| countri | cooper mission also use assist | countri | design develop various element inflat |
| countri | inflat target framework date least | countri | benefit mission much assist focus |
| also | model forecast issu case imf | also | arrang resid advisor work central |
| also | manag foreign exchang oper statist | also | contribut strengthen inflat target capac |
| also | strengthen inflat target capac imf | also | conduct focus workshop various aspect |
| polici | target issu standard cours monetari | polici | let conclud stress maghreb middleeast |
| countri | let conclud stress maghreb middleeast | countri | repres could reap benefit inflat |
| need | relev legisl import part adjust | need | made number countri like egypt |
| countri | part adjust need made number | countri | like egypt morocco tunisia contempl |
| also | framework mediumterm context would like | also | reiter imf commit assist countri |
| countri | also reiter imf commit assist | countri | import endeavor bilater region technic |
| countri | region technic cooper annual consult | countri | fund would encourag facilit share |
| countri | would encourag facilit share experi | countri | adopt inflat target plan move |
| also | listen view engag product discuss | also | wish everi success proceed tomorrow |
| global | part panel discuss identifi address | global | risk ll begin word remark |
| global | ll begin word remark perform | global | economi recent year nearterm outlook |
| economi | begin word remark perform global | economi | recent year nearterm outlook focus |
| global | talk mitig one sourc risk | global | outlook name high current account |
| global | reduc safer level sustain strong | global | growth let begin recent global |
| growth | safer level sustain strong global | growth | let begin recent global perform |
| global | global growth let begin recent | global | perform nearterm outlook think use |
| global | experienc fastest fouryear period increas | global | incom year incom growth share |
| growth | increas global incom year incom | growth | share countri across world world |
| countri | incom year incom growth share | countri | across world world two popul |
| countri | across world world two popul | countri | also among fastest grow rescu |
| also | world world two popul countri | also | among fastest grow rescu million |
| growth | million abject poverti subsaharan africa | growth | excess recent year global growth |
| global | africa growth excess recent year | global | growth anchor strong product growth |
| growth | growth excess recent year global | growth | anchor strong product growth mani |
| growth | global growth anchor strong product | growth | mani countri core inflat rate |
| countri | anchor strong product growth mani | countri | core inflat rate around world |
| market | world remain year low financi | market | emerg economi grow size becom |
| economi | year low financi market emerg | economi | grow size becom integr global |
| global | economi grow size becom integr | global | economi stock domesticallyissu bond emerg |
| economi | grow size becom integr global | economi | stock domesticallyissu bond emerg market |
| market | economi stock domesticallyissu bond emerg | market | countri top us trillion constitut |
| countri | stock domesticallyissu bond emerg market | countri | top us trillion constitut import |
| global | top us trillion constitut import | global | asset class mani emerg economi |
| economi | global asset class mani emerg | economi | abl borrow currenc suggest manag |
| global | character origin sin make perform | global | economi last five year even |
| economi | origin sin make perform global | economi | last five year even impress |
| econom | terrorist attack claim live disrupt | econom | activ mani countri period high |
| countri | live disrupt econom activ mani | countri | period high volatil oil price |
| also | period high volatil oil price | also | pose challeng look ahead clear |
| global | look ahead clear mani risk | global | outlook bear close watch spillov |
| market | spillov ongo correct u hous | market | financi market cours promin risk |
| market | correct u hous market financi | market | cours promin risk imf expect |
| global | risk outlook remain tilt downsid | global | growth strong close percent forecast |
| growth | outlook remain tilt downsid global | growth | strong close percent forecast start |
| economi | close percent forecast start world | economi | still rope would predict five |
| global | would predict five good year | global | growth like follow cours five |
| growth | predict five good year global | growth | like follow cours five year |
| also | like follow cours five year | also | seen increas u current account |
| need | assess proper risk develop one | need | view deficit surplus came exist |
| global | collaps communism usher possibl truli | global | economi unlik bretton wood vision |
| economi | communism usher possibl truli global | economi | unlik bretton wood vision fix |
| market | fix exchang rate close capit | market | world float exchang rate least |
| market | industri nation relat open capit | market | long new world went sever |
| countri | uglier still policymak particular industri | countri | repeat mistak great depress step |
| global | start follow seri serious shock | global | economi move toward monetari accommod |
| economi | follow seri serious shock global | economi | move toward monetari accommod countri |
| countri | economi move toward monetari accommod | countri | room accompani unit state countri |
| countri | countri room accompani unit state | countri | fiscal accommod well accommod produc |
| market | favor anticip either policymak financi | market | policyboost demand growth unit state |
| growth | policymak financi market policyboost demand | growth | unit state critic support global |
| global | growth unit state critic support | global | upturn start time global permit |
| global | support global upturn start time | global | permit emerg market countri benefit |
| market | start time global permit emerg | market | countri benefit direct export gain |
| countri | time global permit emerg market | countri | benefit direct export gain post |
| market | univers unpreced degre mani emerg | market | countri took advantag favor environ |
| countri | unpreced degre mani emerg market | countri | took advantag favor environ strengthen |
| market | continu good perform cours financi | market | reflect unexpect econom success cyclic |
| econom | cours financi market reflect unexpect | econom | success cyclic root present pattern |
| global | balanc structur factor contribut well | global | capit flow led growth deepen |
| growth | well global capit flow led | growth | deepen financi market dynam seen |
| market | flow led growth deepen financi | market | dynam seen chang investor base |
| countri | let mention three first industri | countri | asset manag institut investor pension |
| global | bias investor base declin mark | global | asset alloc gain traction declin |
| market | unbundl realloc risk third emerg | market | central bank sovereign wealth fund |
| global | sovereign wealth fund becom key | global | player crossbord asset alloc structur |
| global | account deficit difficult rapid financi | global | enabl countri financ larger current |
| countri | difficult rapid financi global enabl | countri | financ larger current account deficit |
| financ | rapid financi global enabl countri | financ | larger current account deficit longer |
| global | account balanc safer level desir | global | economi stabil withdraw much cyclic |
| economi | balanc safer level desir global | economi | stabil withdraw much cyclic stimulus |
| need | place appropri time bring chang | need | revers u current account deficit |
| growth | past sever year reflect astonish | growth | household net worth home ownership |
| growth | declin inflat interest rate product | growth | like remain elev wonder though |
| need | rise bring declin domest demand | need | chang cours current account deficit |
| countri | deficit medium term cours surplus | countri | opposit need happen need strengthen |
| need | term cours surplus countri opposit | need | happen need strengthen domest demand |
| need | surplus countri opposit need happen | need | strengthen domest demand progress structur |
| polici | strengthen domest demand progress structur | polici | euro area japan help regard |
| also | particip recent adopt consumpt china | also | strengthen financi system continu develop |
| also | term sinc implement reform juli | also | expect domest spend oil export |
| global | energi sector firm short like | global | imbal unwind gradual rebalanc domest |
| countri | gradual rebalanc domest demand across | countri | support marketdriven movement real exchang |
| countri | help process along bilater discuss | countri | new process multilater consult first |
| polici | state discuss result better understand | polici | agenda particip hope reflect polici |
| polici | polici agenda particip hope reflect | polici | choic countri interest also contribut |
| countri | particip hope reflect polici choic | countri | interest also contribut reduct global |
| also | reflect polici choic countri interest | also | contribut reduct global imbal thank |
| global | countri interest also contribut reduct | global | imbal thank |
| economi | say word morn state world | economi | mediumterm challeng must face allow |
| growth | face allow remark recent period | growth | sustain world economi midst strongest |
| economi | recent period growth sustain world | economi | midst strongest period sustain global |
| global | economi midst strongest period sustain | global | growth sinc earli inflat remain |
| growth | midst strongest period sustain global | growth | sinc earli inflat remain low |
| market | level notwithstand recent jitter financi | market | strong perform look set continu |
| economi | moreov expans broad share u | economi | recent slow spillov rest world |
| growth | japan show solid momentum dramat | growth | observ china india noteworthi almost |
| market | china india noteworthi almost emerg | market | develop countri grow robust strong |
| countri | noteworthi almost emerg market develop | countri | grow robust strong perform lowincom |
| countri | grow robust strong perform lowincom | countri | especi subsaharan africa particular welcom |
| global | remark today three question sourc | global | prosper ensur momentum sustain medium |
| global | momentum sustain medium term implic | global | imbal includ particular larg u |
| growth | recent except perform strong product | growth | buoyant product made possibl healthi |
| growth | buoyant product made possibl healthi | growth | profit combin rise real wage |
| also | without derail inflat perform product | also | contribut recent rise asset valu |
| need | consumpt invest support capit flow | need | maintain current pattern global imbal |
| global | flow need maintain current pattern | global | imbal sourc global product boom |
| global | current pattern global imbal sourc | global | product boom well known product |
| growth | product boom well known product | growth | unit state past decad much |
| also | use new inform communic technolog | also | recent gain advanc economi western |
| economi | technolog also recent gain advanc | economi | western europ japan emerg period |
| growth | less wide realiz period product | growth | also strong increas emerg market |
| also | wide realiz period product growth | also | strong increas emerg market develop |
| market | growth also strong increas emerg | market | develop countri true basi crude |
| countri | strong increas emerg market develop | countri | true basi crude readili avail |
| countri | factor product confirm trend particular | countri | undergon major structur transform notabl |
| economi | europ made dramat progress open | economi | advanc market reform turn strong |
| market | dramat progress open economi advanc | market | reform turn strong product growth |
| growth | market reform turn strong product | growth | support increas integr global market |
| global | product growth support increas integr | global | market good servic financ labor |
| market | growth support increas integr global | market | good servic financ labor word |
| financ | integr global market good servic | financ | labor word global process fed |
| global | good servic financ labor word | global | process fed combin rapid technolog |
| global | rapid technolog develop increas open | global | trade system increas sophist financi |
| market | trade system increas sophist financi | market | resili macroeconomicpolici framework rapid growth |
| growth | market resili macroeconomicpolici framework rapid | growth | intern trade introduct new technolog |
| global | activ offshor lowercost locat increas | global | market thus provid product gain |
| market | offshor lowercost locat increas global | market | thus provid product gain sourc |
| countri | provid product gain sourc host | countri | process support import trade liber |
| countri | well entri former eastern bloc | countri | europ free trade zone european |
| also | sinc earli shift product structur | also | support increas intern mobil capit |
| market | direct invest portfolio invest emerg | market | provid conduit financ also enabl |
| financ | invest emerg market provid conduit | financ | also enabl diffus new technolog |
| also | emerg market provid conduit financ | also | enabl diffus new technolog manag |
| polici | technolog manag skill improv macroeconom | polici | framework countri suggest flow less |
| countri | skill improv macroeconom polici framework | countri | suggest flow less like lead |
| countri | cycl past within mani develop | countri | includ particular emerg asia growth |
| growth | countri includ particular emerg asia | growth | also support largescal movement underemploy |
| also | includ particular emerg asia growth | also | support largescal movement underemploy labor |
| economi | import migrat flow toward advanc | economi | includ spain migrat generat substanti |
| countri | migrat generat substanti remitt poorer | countri | sustain advancedeconomi growth reliev shortag |
| growth | remitt poorer countri sustain advancedeconomi | growth | reliev shortag provid complementari skill |
| global | could threaten continu trend concern | global | product growth may deceler period |
| growth | continu trend concern global product | growth | may deceler period ahead number |
| economi | revers gain increas integr world | economi | sad despit success global often |
| global | world economi sad despit success | global | often use negat word free |
| countri | pressur reflect widespread percept help | countri | group within countri alreadi concern |
| countri | percept help countri group within | countri | alreadi concern recent resort antidump |
| global | ad forc popular worri impact | global | distribut incom particular advanc economi |
| economi | global distribut incom particular advanc | economi | context key imper renew polit |
| countri | major advanc area benefit lowincom | countri | instanc increas access advancedcountri market |
| market | countri instanc increas access advancedcountri | market | agricultur product process bilater region |
| also | bilater region trade liber may | also | continu constitut substitut progress multilater |
| global | agreement alreadi cover around onethird | global | trade inher less benefici liber |
| countri | greater disciplin minim cost third | countri | trade divers avoid creat spaghetti |
| also | bowl divers regulatori requir disciplin | also | maxim chanc bilater agreement prove |
| global | stone rather stumbl block toward | global | free trade broad global continu |
| global | toward global free trade broad | global | continu believ import sober realist |
| also | undoubt gain aggreg one must | also | tri understand gain distribut strain |
| need | emerg group imf much awar | need | examin question serious fact latest |
| econom | question serious fact latest world | econom | outlook issu next month discuss |
| growth | issu next month discuss rapid | growth | intern trade increas global labor |
| global | rapid growth intern trade increas | global | labor market introduct new technolog |
| market | intern trade increas global labor | market | introduct new technolog produc import |
| countri | gain incom level advanc develop | countri | also impact incom distribut must |
| also | incom level advanc develop countri | also | impact incom distribut must done |
| economi | incom distribut must done advanc | economi | help whose job may particular |
| need | affect recent trend technolog trade | need | ensur adequ employ opportun creat |
| need | educ system ensur worker skill | need | compet greater labor market flexibl |
| market | skill need compet greater labor | market | flexibl ensur new job creat |
| econom | safeti net cushion impact obstruct | econom | chang issu perhap even import |
| market | issu perhap even import emerg | market | develop economi global integr trade |
| economi | even import emerg market develop | economi | global integr trade financi market |
| global | import emerg market develop economi | global | integr trade financi market produc |
| market | economi global integr trade financi | market | produc enorm benefit countri drive |
| countri | financi market produc enorm benefit | countri | drive forc behind increas incom |
| economi | converg toward level found advanc | economi | middl lowincom countri must put |
| countri | found advanc economi middl lowincom | countri | must put much even greater |
| economi | much even greater emphasi advanc | economi | ensur fruit growth wellshar recent |
| growth | emphasi advanc economi ensur fruit | growth | wellshar recent experi shown social |
| also | poor effect rais live standard | also | build human capit need longerterm |
| need | standard also build human capit | need | longerterm growth progress toward millennium |
| growth | build human capit need longerterm | growth | progress toward millennium develop goal |
| global | let turn second sourc concern | global | environment resourc constraint like impos |
| global | effort date address longterm problem | global | warm limit partial howev potenti |
| econom | limit partial howev potenti longterm | econom | consequ climat chang increas recogn |
| countri | recogn lead rise interest across | countri | take action control hydrocarbon emiss |
| global | action would longterm damag percent | global | consumpt concentr lowerincom countri tropic |
| countri | percent global consumpt concentr lowerincom | countri | tropic context mention imf center |
| polici | assess macroeconom signific climat chang | polici | effort mitig work import effort |
| global | effort understand longterm macroeconom challeng | global | economi provid basi polici advic |
| economi | understand longterm macroeconom challeng global | economi | provid basi polici advic member |
| polici | challeng global economi provid basi | polici | advic member countri help us |
| countri | provid basi polici advic member | countri | help us contribut intern effort |
| growth | third crucial issu maintain product | growth | challeng pose age popul especi |
| countri | pose age popul especi advanc | countri | share new entrant labor forc |
| need | risk mismatch specif labor skill | need | perhap import rise ratio depend |
| polici | strain central challeng ensur fiscal | polici | framework remain sustain face age |
| growth | popul present expans rapid revenu | growth | help strengthen fiscal posit number |
| economi | strengthen fiscal posit number major | economi | howev remain uncertain much improv |
| growth | cyclic boost high profit rapid | growth | earn upper end incom spectrum |
| need | high european union greater advantag | need | taken current momentum economi bring |
| economi | advantag need taken current momentum | economi | bring deficit line mediumterm object |
| growth | line mediumterm object set stabil | growth | pact fiscal consolid achiev signific |
| growth | impos consider effici cost expenditur | growth | must also contain experi shown |
| also | effici cost expenditur growth must | also | contain experi shown provid much |
| need | ambiti progress structur fiscal reform | need | particular area like healthcar pension |
| polici | longterm fiscal viabil open immigr | polici | step reduc depend ratio may |
| also | step reduc depend ratio may | also | help address fiscal concern spain |
| growth | exampl open attitud immigr posit | growth | help strengthen nation financ howev |
| financ | posit growth help strengthen nation | financ | howev approach partial compens age |
| need | partial compens age trend case | need | set within appropri labormarket framework |
| countri | unless busi environ flexibl support | countri | far lag unit state reap |
| financ | particular servic sector wholesal distribut | financ | u product perform strong particular |
| economi | agricultur china india sever asian | economi | sustain growth depend effort countri |
| growth | india sever asian economi sustain | growth | depend effort countri improv agricultur |
| countri | economi sustain growth depend effort | countri | improv agricultur product continu shift |
| polici | industri servic develop occur within | polici | environ encourag greater competit flexibl |
| market | labor reform accompani liber product | market | financi market discourag rapid growth |
| market | accompani liber product market financi | market | discourag rapid growth inform sector |
| growth | market financi market discourag rapid | growth | inform sector lower product weaken |
| global | improv skill c implic unwind | global | imbalancesani slowdown product growth import |
| growth | unwind global imbalancesani slowdown product | growth | import implic invest consumpt trend |
| global | implic invest consumpt trend unwind | global | imbal maintain gdp growth rate |
| growth | unwind global imbal maintain gdp | growth | rate face slower growth total |
| growth | gdp growth rate face slower | growth | total factor product requir higher |
| growth | observ present expans time consumpt | growth | could dampen lower expect futur |
| growth | dampen lower expect futur incom | growth | although aggreg consumpt like boost |
| countri | boost rise share popul advanc | countri | retir popul fastgrow countri east |
| countri | advanc countri retir popul fastgrow | countri | east asia especi china adjust |
| countri | rise real interest rate context | countri | unit state larg current account |
| financ | difficulti attract continu largescal foreign | financ | need difficulti aris particular return |
| need | attract continu largescal foreign financ | need | difficulti aris particular return invest |
| also | state lag return elsewher must | also | anticip countri financi system start |
| countri | return elsewher must also anticip | countri | financi system start close gap |
| need | larg u current account deficit | need | come process marketl driven return |
| economi | general joint action advanc develop | economi | import ensur environ conduc smooth |
| global | ensur environ conduc smooth unwind | global | imbal necessari polici step countri |
| polici | smooth unwind global imbal necessari | polici | step countri longterm selfinterest concurr |
| countri | global imbal necessari polici step | countri | longterm selfinterest concurr action across |
| global | consequ easier advanc environ continu | global | prosper one countri seen act |
| countri | environ continu global prosper one | countri | seen act cooper toward common |
| need | rate return process alreadi underway | need | continu believ imf play import |
| global | past five year period great | global | prosper underpin strong product growth |
| growth | global prosper underpin strong product | growth | hard predict lie ahead given |
| global | climat chang popul age larg | global | imbal remain optimist cannot take |
| need | grant current success continu reform | need | maintain pace product growth ensur |
| growth | reform need maintain pace product | growth | ensur result benefit wide share |
| global | awar grow popular concern impact | global | believ govern advanc economi emerg |
| economi | impact global believ govern advanc | economi | emerg market much ensur gain |
| market | believ govern advanc economi emerg | market | much ensur gain global clear |
| global | emerg market much ensur gain | global | clear aggreg level well distribut |
| need | recogn group may advers affect | need | given greater support adjust increas |
| global | given greater support adjust increas | global | market without obstruct process chang |
| market | greater support adjust increas global | market | without obstruct process chang prevent |
| polici | make easier continu advanc ambiti | polici | agenda need sustain strong global |
| need | continu advanc ambiti polici agenda | need | sustain strong global growth gain |
| global | polici agenda need sustain strong | global | growth gain support reform never |
| growth | agenda need sustain strong global | growth | gain support reform never easi |
| growth | never easi present period sustain | growth | provid ideal opportun thank |
| global | take advantag occas share perspect | global | economi financi market opportun lead |
| economi | advantag occas share perspect global | economi | financi market opportun lead intern |
| market | share perspect global economi financi | market | opportun lead intern monetari fund |
| global | member address challeng st centuri | global | strengthen foundat fund surveil monitor |
| global | strengthen foundat fund surveil monitor | global | economi discuss economi individu fund |
| economi | foundat fund surveil monitor global | economi | discuss economi individu fund member |
| economi | surveil monitor global economi discuss | economi | individu fund member core busi |
| countri | make chang way work lowincom | countri | sharpen focus area make greatest |
| countri | make greatest contribut help lowincom | countri | make progress toward meet millennium |
| countri | govern structur aim increas represent | countri | whose econom weight increas recent |
| econom | aim increas represent countri whose | econom | weight increas recent year also |
| also | econom weight increas recent year | also | protect voic represent lowincom countri |
| countri | also protect voic represent lowincom | countri | make chang way fund oper |
| need | fund resourc carri mandat chang | need | make sure fund continu relev |
| need | relev provid best servic member | need | world chang vari rapid mani |
| market | aspect chang take place financi | market | transfer financi risk financi institut |
| economi | member societi fortun rise fall | economi | individu increas take financi risk |
| growth | hedg fund trend facilit rapid | growth | securit asset kind mortgag credit |
| financ | mani peopl past exampl opportun | financ | hous develop busi downsid peopl |
| market | unit state moment distress financi | market | aris troubl subprim mortgag sector |
| need | financi product around world suggest | need | regul look close lender underwrit |
| growth | chang risk institut individu face | growth | credit risk transfer instrument structur |
| also | fund life insur hedg fund | also | consequ exampl know vulner credit |
| market | credit risk transfer securit loan | market | potenti loss liquid credit cycl |
| also | sharpli default becom common may | also | increas risk spillov market risk |
| market | may also increas risk spillov | market | risk also transfer insur pension |
| also | increas risk spillov market risk | also | transfer insur pension fund individu |
| need | individu build portfolio better fit | need | capac bear risk individu must |
| also | capac bear risk individu must | also | absorb market risk especi longev |
| market | risk individu must also absorb | market | risk especi longev risk direct |
| need | shift locat risk regul supervisor | need | take new realiti new vulner |
| need | account anoth implic individu famili | need | take respons manag financi risk |
| need | respons manag financi risk therefor | need | educ consum financi inform evid |
| need | estim pension incom retir leadership | need | govern privat sector regulatori author |
| also | counsel servic especi lowincom group | also | promot better default option pension |
| market | lifecycl invest plan rather money | market | account would give peopl simpl |
| also | financi plan intern monetari fund | also | role play especi identifi assess |
| global | role play especi identifi assess | global | crossbord financi risk anoth aspect |
| market | sector work includ capit financi | market | econom analysi monitor individu countri |
| econom | work includ capit financi market | econom | analysi monitor individu countri economi |
| countri | market econom analysi monitor individu | countri | economi enhanc analysi financi sector |
| economi | econom analysi monitor individu countri | economi | enhanc analysi financi sector vulner |
| polici | vulner ensur reflect macroeconom analysi | polici | advic monitor global economi devot |
| global | macroeconom analysi polici advic monitor | global | economi devot attent understand identifi |
| economi | analysi polici advic monitor global | economi | devot attent understand identifi linkag |
| economi | identifi linkag financi sector real | economi | area much fund other much |
| also | fund other much fund worri | also | time good peopl stop worri |
| polici | talk today chang financi risk | polici | maker institut like intern monetari |
| need | institut like intern monetari fund | need | respond chang seen period turbul |
| market | chang seen period turbul financi | market | last week talk littl implic |
| global | talk littl implic suggest develop | global | economi world financi market reassur |
| economi | littl implic suggest develop global | economi | world financi market reassur us |
| market | develop global economi world financi | market | reassur us give us caus |
| also | bank financi sector individu famili | also | propos step taken respond shift |
| countri | fund assess financi risk member | countri | face new opportun new risk |
| global | new opportun new risk financi | global | fund adapt help meet challeng |
| market | sector work includ capit financi | market | econom analysi increas import financi |
| econom | work includ capit financi market | econom | analysi increas import financi market |
| market | econom analysi increas import financi | market | growth develop countri major featur |
| growth | analysi increas import financi market | growth | develop countri major featur new |
| countri | import financi market growth develop | countri | major featur new world global |
| global | countri major featur new world | global | particular import emerg market countri |
| market | world global particular import emerg | market | countri lot gain financi integr |
| countri | global particular import emerg market | countri | lot gain financi integr may |
| also | lot gain financi integr may | also | becom vulner integr global market |
| global | may also becom vulner integr | global | market fund take lead identifi |
| market | also becom vulner integr global | market | fund take lead identifi strength |
| countri | late advanc work monitor individu | countri | economi enhanc analysi financi sector |
| economi | advanc work monitor individu countri | economi | enhanc analysi financi sector vulner |
| polici | vulner ensur reflect macroeconom analysi | polici | advic monitor global economi devot |
| global | macroeconom analysi polici advic monitor | global | economi devot attent linkag financi |
| economi | analysi polici advic monitor global | economi | devot attent linkag financi sector |
| economi | attent linkag financi sector real | economi | analysi tell us current state |
| global | analysi tell us current state | global | economi situat financi market first |
| economi | tell us current state global | economi | situat financi market first econom |
| market | state global economi situat financi | market | first econom fundament good world |
| econom | economi situat financi market first | econom | fundament good world alreadi seen |
| growth | alreadi seen sever year strong | growth | intern monetari fund expect global |
| global | growth intern monetari fund expect | global | growth close percent would strongest |
| growth | intern monetari fund expect global | growth | close percent would strongest fiveyear |
| global | percent would strongest fiveyear span | global | economi sinc late unit state |
| economi | would strongest fiveyear span global | economi | sinc late unit state speed |
| market | eas larg reflect slowdown hous | market | euro area growth momentum look |
| growth | slowdown hous market euro area | growth | momentum look solid japan economi |
| economi | growth momentum look solid japan | economi | seem regain foot china india |
| growth | foot china india continu engin | growth | mani emerg market develop countri |
| market | continu engin growth mani emerg | market | develop countri enjoy continu strong |
| countri | growth mani emerg market develop | countri | enjoy continu strong growth recent |
| growth | develop countri enjoy continu strong | growth | recent year notwithstand global economi |
| global | strong growth recent year notwithstand | global | economi essenti strong stabl seen |
| economi | growth recent year notwithstand global | economi | essenti strong stabl seen consider |
| market | strong stabl seen consider financi | market | turbul late believ reflect reapprais |
| econom | reflect reapprais risk import area | econom | risk unit state currenc risk |
| market | trade recent risk u mortgag | market | given rise concern among investor |
| market | bad thing danger time financi | market | noon believ lose recent movement |
| market | noon believ lose recent movement | market | despit cost least help reduc |
| econom | import investor policymak remain awar | econom | financi market risk among econom |
| market | policymak remain awar econom financi | market | risk among econom risk oil |
| econom | econom financi market risk among | econom | risk oil suppli price remain |
| also | price remain vulner geopolit event | also | risk may still insuffici appreci |
| global | still insuffici appreci disord adjust | global | payment imbal risk relat low |
| also | relat low cost would high | also | develop financi market could implic |
| market | would high also develop financi | market | could implic global economi let |
| global | develop financi market could implic | global | economi let mention three first |
| economi | financi market could implic global | economi | let mention three first well |
| market | well known problem subprim mortgag | market | unit state risk could impact |
| market | unit state risk could impact | market | affect sector u economi second |
| economi | impact market affect sector u | economi | second develop see sourc risk |
| financ | increas larg privat equiti buyout | financ | rise proport debt risk financi |
| market | trigger reapprais risk would curtail | market | access broad lowerr corpor borrow |
| growth | borrow could advers affect invest | growth | prospect third develop substanti flow |
| market | develop substanti flow capit emerg | market | especi bankbas flow emerg europ |
| also | realloc capit product invest welcom | also | expos countri concern abrupt revers |
| countri | product invest welcom also expos | countri | concern abrupt revers flow investor |
| market | policymak keep mind potenti spillov | market | financi market economi leav subject |
| market | mind potenti spillov market financi | market | economi leav subject econom risk |
| economi | potenti spillov market financi market | economi | leav subject econom risk let |
| econom | financi market economi leav subject | econom | risk let mention one believ |
| need | risk let mention one believ | need | taken serious public polici maker |
| polici | believ need taken serious public | polici | maker rise protectionist sentiment mani |
| need | state elsewher politician busi peopl | need | forc remind public benefit trade |
| growth | trade tend product higher employ | growth | pay higher wage domest orient |
| economi | help advers affect structur chang | economi | strengthen economi adapt exampl trade |
| economi | affect structur chang economi strengthen | economi | adapt exampl trade adjust assist |
| also | congress decis import unit state | also | rest world hope congress move |
| econom | congress move quick issu respond | econom | financi risk talk fund take |
| econom | area especi identifi warn key | econom | financi risk leadership also need |
| also | key econom financi risk leadership | also | need public sector agenc around |
| need | econom financi risk leadership also | need | public sector agenc around world |
| economi | member societi fortun rise fall | economi | individu increas take financi risk |
| growth | hedg fund relat develop rapid | growth | securit asset kind mortgag credit |
| financ | mani peopl past mani peopl | financ | hous consum durabl purchas vacat |
| econom | vacat busi school educ widen | econom | opportun make possibl individu balanc |
| market | late fee charg distress financi | market | face troubl subprim mortgag sector |
| need | histori associ survey develop suggest | need | take fresh look lender underwrit |
| growth | signific risk institut individu face | growth | market credit risk transfer instrument |
| market | risk institut individu face growth | market | credit risk transfer instrument structur |
| market | price receiv loan sell secur | market | much risk loan dispers investor |
| also | greater abil share loss investor | also | downsid first lack transpar know |
| market | credit risk transfer securit loan | market | hold credit cycl turn sharpli |
| need | turn sharpli default becom common | need | get better pictur go market |
| market | need get better pictur go | market | increas risk stay financi intermediari |
| market | individu flexibl price pay absorb | market | credit risk also longev risk |
| also | pay absorb market credit risk | also | longev risk direct individu absorb |
| need | scheme one implic regul supervisor | need | take new realiti new vulner |
| also | transpar therebi reduc default risk | also | encourag risk transfer investor includ |
| also | time investor base hedg fund | also | broaden percent invest come pension |
| need | come pension fund close attent | need | paid chang present focus supervisor |
| market | fund regul counterparti effect structur | market | chang supervisor may need adapt |
| need | structur market chang supervisor may | need | adapt framework supervis improv investor |
| also | protect reduc system risk vulner | also | import monitor develop global hedg |
| global | vulner also import monitor develop | global | hedg fund industri intern multilater |
| need | shift locat risk individu famili | need | take respons manag financi risk |
| need | respons manag financi risk therefor | need | educ consum financi inform evid |
| need | confid abil forecast pension insur | need | work step need take meet |
| need | pension insur need work step | need | take meet circumst unfortun consum |
| need | take meet circumst unfortun consum | need | financi advic ever remain reluct |
| need | product howev action taken leadership | need | major player govern privat sector |
| also | school provid counsel lowincom group | also | promot default option pension scheme |
| need | understood invest product menus meet | need | less sophist investor also neutral |
| also | meet need less sophist investor | also | neutral hope trust sourc advic |
| need | burden risk fall individu effort | need | elsewher spoken today chang financi |
| market | elsewher spoken today chang financi | market | discuss benefit risk come messag |
| market | chang resist parti govern regul | market | particip individu need adapt chang |
| need | govern regul market particip individu | need | adapt chang need pay attent |
| need | particip individu need adapt chang | need | pay attent new risk financi |
| econom | fund particular standbi agreement recent | econom | develop fund close engag iraq |
| also | begin week march imf board | also | approv extens standbi arrang six |
| econom | director commend iraqi author keep | econom | program track despit extrem difficult |
| econom | stress howev progress made strengthen | econom | polici improv secur condit crucial |
| polici | howev progress made strengthen econom | polici | improv secur condit crucial achiev |
| econom | communiti mediumterm framework polit secur | econom | reform program larg track econom |
| econom | econom reform program larg track | econom | growth target oil product increas |
| growth | reform program larg track econom | growth | target oil product increas project |
| also | caus insurg lower plan invest | also | relat ongo violenc success execut |
| growth | success execut invest budget resumpt | growth | oil sector heavili depend evolv |
| also | evolv secur situat high inflat | also | remain concern annual consum price |
| need | percent declin welcom develop inflat | need | reduc like low growth rate |
| growth | inflat need reduc like low | growth | rate high inflat rate explain |
| economi | therefor measur help bring inflat | economi | high dollar domin cash transact |
| polici | dollar domin cash transact monetari | polici | iraq limit effect influenc inflat |
| polici | arrest dollar therebi improv monetari | polici | transmiss mechan may also help |
| also | monetari polici transmiss mechan may | also | help push inflat govern support |
| polici | push inflat govern support antiinflationari | polici | exercis strict control govern current |
| economi | order eas spend pressur nonoil | economi | time order allevi fuel product |
| also | govern liber privat import gasolin | also | step govern import gasolin sold |
| polici | increas domest petroleum product price | polici | key part process remov distort |
| market | process remov distort refin product | market | reduc incent smuggl also help |
| also | product market reduc incent smuggl | also | help improv fiscal sustain medium |
| econom | effect march go detail imfsupport | econom | program iraq today avail document |
| also | avail imf execut director soon | also | publish imf websit press releas |
| econom | compact iraq contribut continu base | econom | program support standbi arrang particular |
| need | donor fund help especi parliamentarian | need | predict aid flow critic intern |
| countri | mdgs one surpris learn develop | countri | serious track africa particular mdgs |
| countri | spirit servic concern peopl lowincom | countri | also know g gleneagl summit |
| also | servic concern peopl lowincom countri | also | know g gleneagl summit juli |
| countri | juli pledg increas aid poor | countri | us billion centerpiec benchmark effort |
| countri | aid effect pari declar individu | countri | intern organ commit harmon align |
| countri | enough aid driven donor recipi | countri | agenda unlik use effect financi |
| countri | aid meanwhil recipi govern lowincom | countri | work hard manag financ way |
| financ | lowincom countri work hard manag | financ | way reassur donor aid achiev |
| need | aid result advers effect legitim | need | good intent conflict program increas |
| polici | recipi turn commit implement better | polici | use aid better transpar fund |
| countri | africa except nigeria far poorest | countri | offici assist region edg lower |
| countri | use ultim though experi recipi | countri | realli drive donor harmon agenda |
| countri | aid well use usual find | countri | lead develop strategi recipi countri |
| countri | countri lead develop strategi recipi | countri | clear vision want achiev donor |
| countri | aid effort genuin led recipi | countri | usual find sever critic common |
| polici | product aid depend crucial strong | polici | sound macroeconom fundament welldirect polici |
| polici | polici sound macroeconom fundament welldirect | polici | solid institut privat sector particip |
| countri | necessari aid effect number subsaharan | countri | instanc polici better design institut |
| polici | effect number subsaharan countri instanc | polici | better design institut stronger aspect |
| countri | opportun much africa larg number | countri | pursu econom reform intern environ |
| econom | africa larg number countri pursu | econom | reform intern environ favor global |
| global | econom reform intern environ favor | global | demand strong african product commod |
| growth | privat investor come see higher | growth | seen long time convert opportun |
| growth | convert opportun sustain even higher | growth | poverti reduct requir much work |
| countri | coordin action provid predict aid | countri | use well make aid work |
| countri | use well make aid work | countri | condit less favor remain challeng |
| countri | effici convert money invest develop | countri | need open market african export |
| need | convert money invest develop countri | need | open market african export african |
| market | invest develop countri need open | market | african export african countri need |
| countri | open market african export african | countri | need encourag trade amongst meanwhil |
| need | market african export african countri | need | encourag trade amongst meanwhil countri |
| countri | need encourag trade amongst meanwhil | countri | continu improv econom polici manag |
| econom | amongst meanwhil countri continu improv | econom | polici manag public resourc need |
| polici | meanwhil countri continu improv econom | polici | manag public resourc need maintain |
| need | econom polici manag public resourc | need | maintain fiscal disciplin avoid futur |
| need | system develop power instrument develop | need | invest health educ order bring |
| growth | health educ order bring benefit | growth | countri must will take unquest |
| countri | educ order bring benefit growth | countri | must will take unquest ownership |
| countri | ownership reform align develop assist | countri | prioriti parliamentarian key role playin |
| countri | resourc general exercis effect oversight | countri | econom polici parliament help activ |
| econom | general exercis effect oversight countri | econom | polici parliament help activ engag |
| polici | exercis effect oversight countri econom | polici | parliament help activ engag intern |
| global | intern communiti crucial make emerg | global | aid framework work effect work |
| countri | work support effort led recipi | countri | thank attent |
| global | travel locat come singapor event | global | exchang ratesthi confer offer opportun |
| global | key topic imf effort promot | global | econom progress financi stabil name |
| econom | topic imf effort promot global | econom | progress financi stabil name analysi |
| polici | name analysi exchang rate relat | polici | take place ahead tenth anniversari |
| global | aftermath rapid increas trade financi | global | made analysi exchang rate issu |
| also | analysi exchang rate issu import | also | much complex global offer promis |
| global | issu import also much complex | global | offer promis challeng time larg |
| economi | border contribut sustain expans world | economi | also requir countri adapt flexibl |
| also | contribut sustain expans world economi | also | requir countri adapt flexibl consequ |
| countri | expans world economi also requir | countri | adapt flexibl consequ chang product |
| market | likewis extens develop privat capit | market | great improv alloc global save |
| global | capit market great improv alloc | global | save invest fact recent research |
| economi | depart show last year emergingmarket | economi | averag grown close three time |
| countri | three time faster group develop | countri | activ particip financi global financi |
| global | develop countri activ particip financi | global | financi global also requir countri |
| global | activ particip financi global financi | global | also requir countri remain vigil |
| also | particip financi global financi global | also | requir countri remain vigil risk |
| countri | global financi global also requir | countri | remain vigil risk pose size |
| countri | complex intern financi flow asian | countri | familiar two side global past |
| global | asian countri familiar two side | global | past sever decad mani asian |
| countri | past sever decad mani asian | countri | becom import drive forc global |
| global | countri becom import drive forc | global | economi region account near third |
| economi | becom import drive forc global | economi | region account near third world |
| countri | world gdp ppp term mani | countri | embrac outwardori strategi growth integr |
| growth | mani countri embrac outwardori strategi | growth | integr fulli global econom system |
| global | outwardori strategi growth integr fulli | global | econom system process also suffer |
| econom | strategi growth integr fulli global | econom | system process also suffer hazard |
| also | fulli global econom system process | also | suffer hazard volatil capit flow |
| countri | crisi late clear setback mani | countri | howev thank larg measur resolut |
| econom | region subsequ recoveri swift robust | econom | growth return region strength capit |
| growth | subsequ recoveri swift robust econom | growth | return region strength capit inflow |
| market | region strength capit inflow attest | market | confid asia econom prospect fund |
| econom | inflow attest market confid asia | econom | prospect fund also review care |
| also | confid asia econom prospect fund | also | review care experi asian crisi |
| countri | lesson learn look ahead asian | countri | face new challeng maintain momentum |
| econom | face new challeng maintain momentum | econom | progress root asia recoveri crisi |
| also | crisi lie restor macroeconom stabil | also | reform especi strengthen financi corpor |
| global | contribut sever crisi reap benefit | global | financi integr requir strengthen develop |
| market | requir strengthen develop domest financi | market | recoveri invest mani countri togeth |
| countri | financi market recoveri invest mani | countri | togeth loom demograph chang may |
| growth | demograph chang may entail rebalanc | growth | pattern includ greater role privat |
| growth | privat domest demand drive futur | growth | rebalanc help reduc vulner asia |
| economi | rebalanc help reduc vulner asia | economi | extern econom develop allow reap |
| econom | reduc vulner asia economi extern | econom | develop allow reap benefit high |
| growth | develop allow reap benefit high | growth | direct form higher consumpt welfar |
| growth | rate flexibl would facilit rebalanc | growth | pattern asian economi medium term |
| economi | facilit rebalanc growth pattern asian | economi | medium term also allow monetari |
| also | pattern asian economi medium term | also | allow monetari polici greater independ |
| polici | medium term also allow monetari | polici | greater independ secur domest polici |
| polici | polici greater independ secur domest | polici | object cope side effect volatil |
| need | effect volatil capit flow cours | need | mention audienc exchang rate issu |
| countri | better discharg mandat help member | countri | meet new challeng associ global |
| global | countri meet new challeng associ | global | imf develop comprehens mediumterm strategi |
| economi | right better reflect chang world | economi | last septemb annual meet singapor |
| countri | member approv increas quota four | countri | china korea mexico turkey increas |
| econom | view better align quota share | econom | weight ensur effect particip lowincom |
| countri | weight ensur effect particip lowincom | countri | govern fund also address crisi |
| also | particip lowincom countri govern fund | also | address crisi prevent need emerg |
| need | fund also address crisi prevent | need | emerg market countri discuss start |
| market | address crisi prevent need emerg | market | countri discuss start new conting |
| countri | crisi prevent need emerg market | countri | discuss start new conting financ |
| financ | countri discuss start new conting | financ | instrument countri remain vulner shock |
| countri | start new conting financ instrument | countri | remain vulner shock despit maintain |
| financ | studi fund boost amount conting | financ | avail countri need immedi financ |
| countri | boost amount conting financ avail | countri | need immedi financ polici adjust |
| need | amount conting financ avail countri | need | immedi financ polici adjust fund |
| financ | financ avail countri need immedi | financ | polici adjust fund help build |
| polici | avail countri need immedi financ | polici | adjust fund help build foundat |
| growth | fund help build foundat sustain | growth | lowincom countri term discuss today |
| countri | build foundat sustain growth lowincom | countri | term discuss today would like |
| polici | consist extens program macroeconom analysi | polici | dialogu member govern howev surveil |
| global | howev surveil increas becom region | global | scope familiar fund two multilater |
| econom | two multilater surveil public world | econom | outlook global financi stabil report |
| global | surveil public world econom outlook | global | financi stabil report innov propos |
| also | report innov propos mediumterm strategi | also | engag multilater consult set key |
| economi | engag multilater consult set key | economi | address challeng pose record global |
| global | economi address challeng pose record | global | imbal term bilater surveil articl |
| countri | agreement essenc lay code conduct | countri | exchang rate domest polici regular |
| polici | conduct countri exchang rate domest | polici | regular consult take place fund |
| polici | fund staff member govern discuss | polici | within broad set articl iv |
| countri | use exchang rate assess monitor | countri | competit vulner balanc payment crise |
| global | vulner balanc payment crise howev | global | develop recent year confront fund |
| polici | exchang rate surveil critic pillar | polici | dialogu imf member countri rapid |
| countri | pillar polici dialogu imf member | countri | rapid chang global economi also |
| global | imf member countri rapid chang | global | economi also increas likelihood substanti |
| economi | member countri rapid chang global | economi | also increas likelihood substanti exchang |
| also | countri rapid chang global economi | also | increas likelihood substanti exchang rate |
| countri | adjust facilit structur transform member | countri | need therefor tool help us |
| need | facilit structur transform member countri | need | therefor tool help us disentangl |
| economi | examin exchang rate surveil larg | economi | account percent world gdp conclud |
| also | report de jure regim report | also | assess regim adequaci well analyz |
| polici | well analyz consist exchang rate | polici | extern stabil import think point |
| need | extern stabil import think point | need | emphas almost articl iv report |
| also | recent staff report australia india | also | includ howev report also show |
| also | india also includ howev report | also | show room improv surveil work |
| econom | within bound set current state | econom | technic knowledg parallel bilater surveil |
| also | knowledg parallel bilater surveil imf | also | conduct multilater exchang rate surveil |
| market | methodolog cover major advanc emerg | market | colleagu research depart discuss gist |
| econom | consist real exchang rate under | econom | fundament focus justifi exist evid |
| econom | evid exchang rate tend reflect | econom | fundament better medium short term |
| also | fundament better medium short term | also | consist lesson polici maker lose |
| polici | short term also consist lesson | polici | maker lose sight mediumterm effect |
| polici | maker lose sight mediumterm effect | polici | choic like trend key econom |
| econom | polici choic like trend key | econom | variabl would also hasten add |
| also | trend key econom variabl would | also | hasten add cger approach say |
| also | today imf work data develop | also | help strengthen base analyt work |
| also | influenc exchang rate adjust howev | also | make progress fund work forefront |
| also | data coordin portfolio invest survey | also | conduct analyt work exampl balanc |
| need | challeng remain exchang rate assess | need | disentangl factor relev medium term |
| econom | affect shortterm dynam similar imf | econom | profess whole must achiev deeper |
| need | develop exchang rate trend imf | need | emerg center excel area inde |
| polici | academ advanc exchang rate model | polici | maker cope inher uncertainti float |
| global | float rate regim ongo process | global | call constant rethink issu understand |
| polici | trend outlin briefli put work | polici | analysi signific challeng requir best |
| market | challeng requir best mind sector | market | academia govern intern institut work |
| countri | financi sector develop includ develop | countri | would like prefac brief overview |
| global | would like prefac brief overview | global | economi moment world economi strong |
| economi | like prefac brief overview global | economi | moment world economi strong posit |
| economi | overview global economi moment world | economi | strong posit alreadi seen sever |
| growth | alreadi seen sever year strong | growth | expect global growth close percent |
| global | sever year strong growth expect | global | growth close percent would fifth |
| growth | year strong growth expect global | growth | close percent would fifth year |
| growth | percent would fifth year strong | growth | inde strongest fiveyear span global |
| global | growth inde strongest fiveyear span | global | economi sinc late unit state |
| economi | inde strongest fiveyear span global | economi | sinc late unit state speed |
| market | eas larg reflect slowdown hous | market | growth prospect improv japan china |
| growth | larg reflect slowdown hous market | growth | prospect improv japan china india |
| growth | japan china india continu engin | growth | mani emerg market develop countri |
| market | continu engin growth mani emerg | market | develop countri enjoy continu rapid |
| countri | growth mani emerg market develop | countri | enjoy continu rapid growth recent |
| growth | develop countri enjoy continu rapid | growth | recent year momentum expans europ |
| also | recent year momentum expans europ | also | seem strong consumpt employ growth |
| growth | also seem strong consumpt employ | growth | pick extent reflect improv structur |
| market | structur competit european product labor | market | although work remain done area |
| economi | even though central bank major | economi | steadili increas polici interest rate |
| polici | bank major economi steadili increas | polici | interest rate past year longterm |
| market | rate remain low histor standard | market | seem concern possibl increas inflat |
| market | enhanc credibl fight inflat equiti | market | around world hit new high |
| market | high risk spread corpor emerg | market | debt fallen new low say |
| market | say well world movement financi | market | week remind investor need focus |
| need | financi market week remind investor | need | focus credit qualiti awar risk |
| market | qualiti awar risk volatil currenc | market | investor expect govern bail run |
| also | creat great problem moral hazard | also | econom risk still wait see |
| econom | great problem moral hazard also | econom | risk still wait see full |
| market | full effect downturn u hous | market | though far effect real economi |
| economi | market though far effect real | economi | seem larg confin residenti invest |
| market | confin residenti invest effect financi | market | seem confin creativ part mortgag |
| market | confin creativ part mortgag lend | market | spillov countri also limit oil |
| countri | part mortgag lend market spillov | countri | also limit oil price remain |
| also | mortgag lend market spillov countri | also | limit oil price remain vulner |
| econom | uncertainti oil price part matur | econom | cycl central bank need remain |
| need | matur econom cycl central bank | need | remain vigil inflat market ignor |
| market | bank need remain vigil inflat | market | ignor possibl increas interest rate |
| need | ignor possibl increas interest rate | need | risk disord unwind global econom |
| global | rate need risk disord unwind | global | econom imbal remain risk may |
| econom | need risk disord unwind global | econom | imbal remain risk may low |
| global | sentiment around world could threaten | global | prosper long term nevertheless general |
| global | center tremend period chang part | global | past decad seen extraordinari increas |
| also | increas stem eubas financi institut | also | seen great increas integr emerg |
| market | seen great increas integr emerg | market | countri global economi grow sophist |
| countri | great increas integr emerg market | countri | global economi grow sophist financi |
| global | increas integr emerg market countri | global | economi grow sophist financi market |
| economi | integr emerg market countri global | economi | grow sophist financi market risk |
| market | global economi grow sophist financi | market | risk manag develop present industri |
| countri | manag develop present industri develop | countri | govern privat financi institut great |
| countri | region financi integr process span | countri | million peopl financi integr promis |
| econom | peopl financi integr promis higher | econom | growth better alloc risk countri |
| growth | financi integr promis higher econom | growth | better alloc risk countri financi |
| countri | econom growth better alloc risk | countri | financi sector major factor determin |
| growth | financi sector major factor determin | growth | perform inde half economywid lower |
| growth | inde half economywid lower product | growth | euro area relat unit state |
| growth | state estim aris lower product | growth | financi intermedi countri eu particular |
| countri | lower product growth financi intermedi | countri | eu particular dynam financi market |
| market | countri eu particular dynam financi | market | also tend particular well term |
| also | eu particular dynam financi market | also | tend particular well term econom |
| econom | also tend particular well term | econom | growth sinc mid encourag chang |
| growth | tend particular well term econom | growth | sinc mid encourag chang take |
| also | place financi sector financi integr | also | contribut higher capit flow richer |
| countri | contribut higher capit flow richer | countri | new member state fund research |
| also | incom converg cours financi integr | also | entail new risk integr financi |
| market | entail new risk integr financi | market | allow shock spread across border |
| also | new member state integr may | also | introduc risk yet known crossbord |
| need | bank insur secur howev work | need | area crisi prevent manag still |
| countri | face problem potenti crisi absenc | countri | cannot confid action countri take |
| countri | absenc countri cannot confid action | countri | take converg area import member |
| countri | take converg area import member | countri | financi institut need sure cost |
| need | import member countri financi institut | need | sure cost potenti crisi limit |
| also | time intervent base clear criteria | also | need converg cooper supervis larg |
| need | intervent base clear criteria also | need | converg cooper supervis larg crossbord |
| market | first step final integr equiti | market | infrastructur clear settlement system remain |
| polici | remain incomplet combin marketbas public | polici | initi need encourag capit market |
| need | combin marketbas public polici initi | need | encourag capit market develop let |
| market | polici initi need encourag capit | market | develop let touch briefli anoth |
| market | fund provid obvious benefit ad | market | liquid help transfer risk much |
| also | will investor sens contribut stabil | also | help reduc market ineffici howev |
| market | contribut stabil also help reduc | market | ineffici howev hedg fund also |
| also | market ineffici howev hedg fund | also | pose new challeng certain limit |
| market | fund investor counterparti exert rigor | market | disciplin seek transpar percept speech |
| also | hedg fund regul counterparti effect | also | note structur market chang supervisor |
| market | counterparti effect also note structur | market | chang supervisor may need adapt |
| need | structur market chang supervisor may | need | adapt framework supervis maintain protect |
| also | protect system risk mind fund | also | believ would use monitor develop |
| global | believ would use monitor develop | global | hedg fund industri intern multilater |
| countri | world bank work close member | countri | preserv stabil financi system promot |
| also | competit oper strong prudenti supervis | also | made recommend design strengthen financi |
| need | design strengthen financi sector stress | need | exercis vigil respect fast credit |
| growth | exercis vigil respect fast credit | growth | develop mortgag market let turn |
| market | fast credit growth develop mortgag | market | let turn general issu role |
| countri | great differ save bank differ | countri | save bank import part financi |
| countri | found statut particular import develop | countri | look bank account small saver |
| countri | account small saver transit develop | countri | find three quarter estim billion |
| countri | account manag save bank mani | countri | save bank also play import |
| also | bank mani countri save bank | also | play import role foster competit |
| countri | result financi liber regulatori reform | countri | commensur increas competit financi innov |
| countri | intern flow remitt mani develop | countri | remitt repres signific part intern |
| countri | emigr financi sector servic industri | countri | way remitt serv step stone |
| countri | access financi servic origin receiv | countri | save bank spain good exampl |
| countri | bilater agreement save bank differ | countri | distribut remitt around half normal |
| countri | spain save bank especi develop | countri | also play import part microfin |
| also | save bank especi develop countri | also | play import part microfin save |
| need | access servic product servic tailor | need | lowincom household social commit provid |
| need | social commit provid financi servic | need | mani save bank also alreadi |
| also | servic need mani save bank | also | alreadi embrac cultur microfin institut |
| economi | institut distribut profit back local | economi | inde close link local communiti |
| market | sound risk manag practic good | market | orient adequ govern structur appropri |
| countri | framework monitor oversight experi differ | countri | includ spain show effici oper |
| also | risk manag decis special care | also | need govern structur avoid potenti |
| need | manag decis special care also | need | govern structur avoid potenti polit |
| polici | manag decis save bank exampl | polici | aim direct credit specif industri |
| market | especi import current context financi | market | consum educ wit import structur |
| market | risk transfer lender stock exchang | market | investor becom ultim holder risk |
| also | awar provid educ financi institut | also | import role play educ client |
| need | educ client understand client financi | need | verifi recommend regard asset liabil |
| countri | knowledg technolog diffus across member | countri | also help enhanc access intern |
| also | technolog diffus across member countri | also | help enhanc access intern capit |
| market | help enhanc access intern capit | market | cours cooper among save bank |
| global | time great opportun financi sector | global | economi govern privat sector take |
| economi | great opportun financi sector global | economi | govern privat sector take opportun |
| global | challeng manag risk prospect continu | global | prosper excel sure save bank |
| economi | great opportun middl incom emerg | economi | would like talk today polici |
| polici | economi would like talk today | polici | pursu take opportun work fund |
| countri | fund support effort middl incom | countri | make rapid progress integr global |
| global | countri make rapid progress integr | global | economi enjoy period robust econom |
| economi | make rapid progress integr global | economi | enjoy period robust econom growth |
| econom | global economi enjoy period robust | econom | growth last four year grew |
| growth | economi enjoy period robust econom | growth | last four year grew averag |
| growth | grew averag percent percent faster | growth | rate preced decad open also |
| also | growth rate preced decad open | also | increas trade share gdp near |
| economi | sinc mid privat capit flow | economi | near doubl last five year |
| growth | task capit success produc sustain | growth | reap benefit contain risk stem |
| global | benefit contain risk stem financi | global | middl incom economi still long |
| economi | stem financi global middl incom | economi | still long way travel home |
| growth | quarter develop world poor sustain | growth | financi stabil remain crucial reduc |
| polici | combin care design educ propoor | polici | spread benefit trade wide possibl |
| economi | import multilater liber exportori emerg | economi | keen interest strengthen multilater rule |
| global | interest strengthen multilater rule reduc | global | trade barrier join countri produc |
| countri | reduc global trade barrier join | countri | produc ambiti conclus doha round |
| economi | conclus doha round mani emerg | economi | taken advantag improv econom fundament |
| econom | emerg economi taken advantag improv | econom | fundament benign condit world market |
| market | econom fundament benign condit world | market | deepen access intern capit market |
| market | market deepen access intern capit | market | year ago seem distant dream |
| countri | year ago seem distant dream | countri | abl attract foreign investor local |
| market | investor local currenc fix incom | market | routin increas financi open help |
| growth | increas financi open help facilit | growth | also bring vulner particular risk |
| also | financi open help facilit growth | also | bring vulner particular risk abrupt |
| market | vulner particular risk abrupt chang | market | sentiment risk premia unusu compress |
| economi | credit help reduc vulner emerg | economi | maintain sound macroeconom polici put |
| polici | emerg economi maintain sound macroeconom | polici | put place effect institut framework |
| market | effect institut framework deepen local | market | movement financi market week remind |
| market | deepen local market movement financi | market | week remind investor need focus |
| need | financi market week remind investor | need | focus credit qualiti awar risk |
| market | qualiti awar risk volatil currenc | market | investor expect govern bail run |
| economi | fund adapt increas import emerg | economi | global economi address particular challeng |
| global | adapt increas import emerg economi | global | economi address particular challeng strengthen |
| economi | increas import emerg economi global | economi | address particular challeng strengthen surveil |
| economi | work review tool help emerg | economi | prevent respond crise reform govern |
| market | govern structur make voic emerg | market | member commensur econom weight surveil |
| econom | voic emerg market member commensur | econom | weight surveil central task fund |
| global | task fund surveil mean monitor | global | economi conduct discuss consult individu |
| economi | fund surveil mean monitor global | economi | conduct discuss consult individu member |
| economi | conduct discuss consult individu member | economi | fund surveil offer independ analysi |
| global | experi across boundari exampl base | global | surveil fund warn econom risk |
| econom | base global surveil fund warn | econom | risk stem global imbal financi |
| global | fund warn econom risk stem | global | imbal financi market risk stem |
| market | risk stem global imbal financi | market | risk stem yen carri trade |
| also | increas public report assess fund | also | inform public debat econom polici |
| econom | fund also inform public debat | econom | polici promot wellfunct market make |
| polici | also inform public debat econom | polici | promot wellfunct market make number |
| market | debat econom polici promot wellfunct | market | make number chang way conduct |
| economi | macroeconom analysi particular relev emerg | economi | much gain global financi integr |
| global | relev emerg economi much gain | global | financi integr also remain vulner |
| also | much gain global financi integr | also | remain vulner strengthen focus global |
| global | also remain vulner strengthen focus | global | region spillov new multilater consult |
| polici | bring fund group member togeth | polici | discuss issu share interest region |
| econom | discuss issu share interest region | econom | outlook prepar regular area depart |
| market | regular area depart extend emerg | market | multilater framework analyz equilibrium exchang |
| polici | equilibrium exchang rate final review | polici | framework surveil ensur clear relev |
| economi | surveil ensur clear relev today | economi | also consid adopt surveil remit |
| also | ensur clear relev today economi | also | consid adopt surveil remit set |
| polici | identifi vulner earli encourag appropri | polici | respons addit number member call |
| polici | new instrument conting commit sound | polici | would provid liquid support predict |
| countri | substanti enough stabil confid member | countri | face shock develop instrument market |
| market | countri face shock develop instrument | market | condit benign would allow us |
| economi | favor staff engag outreach emerg | economi | countri well market particip solicit |
| countri | staff engag outreach emerg economi | countri | well market particip solicit view |
| market | outreach emerg economi countri well | market | particip solicit view appropri design |
| economi | stronger voic four underrepres emerg | economi | china korea mexico turkey build |
| global | formula measur member relat posit | global | economi accur includ updat modern |
| economi | measur member relat posit global | economi | accur includ updat modern variabl |
| global | ensur quota vote share reflect | global | realiti import ensur fund well |
| need | import ensur fund well adapt | need | member least middl incom countri |
| countri | need member least middl incom | countri | hope continu support durabl growth |
| growth | countri hope continu support durabl | growth | dynam member thank much |
| economi | say word tonight state world | economi | particular risk think suffici appreci |
| also | think suffici appreci citizen may | also | underestim financi market institut head |
| market | citizen may also underestim financi | market | institut head intern monetari fund |
| countri | mani respons sure familiar lend | countri | experienc econom crise also work |
| econom | sure familiar lend countri experienc | econom | crise also work extens partnership |
| also | lend countri experienc econom crise | also | work extens partnership world bank |
| countri | extens partnership world bank lowincom | countri | help make progress toward achiev |
| economi | collabor heart fund respons monitor | economi | member emerg market develop countri |
| market | respons monitor economi member emerg | market | develop countri also industri countri |
| countri | economi member emerg market develop | countri | also industri countri also monitor |
| also | member emerg market develop countri | also | industri countri also monitor global |
| countri | market develop countri also industri | countri | also monitor global economi tonight |
| also | develop countri also industri countri | also | monitor global economi tonight would |
| global | also industri countri also monitor | global | economi tonight would like share |
| economi | industri countri also monitor global | economi | tonight would like share inform |
| economi | analysi come work moment world | economi | strong posit alreadi seen sever |
| growth | alreadi seen sever year strong | growth | expect global growth close percent |
| global | sever year strong growth expect | global | growth close percent would fifth |
| growth | year strong growth expect global | growth | close percent would fifth year |
| growth | percent would fifth year strong | growth | inde strongest fiveyear span global |
| global | growth inde strongest fiveyear span | global | economi sinc late unit state |
| economi | inde strongest fiveyear span global | economi | sinc late unit state speed |
| market | eas larg reflect slowdown hous | market | subtract percentag point growth euro |
| growth | hous market subtract percentag point | growth | euro area japan growth momentum |
| growth | point growth euro area japan | growth | momentum look solid china india |
| growth | solid china india continu engin | growth | mani emerg market develop countri |
| market | continu engin growth mani emerg | market | develop countri enjoy continu strong |
| countri | growth mani emerg market develop | countri | enjoy continu strong growth recent |
| growth | develop countri enjoy continu strong | growth | recent year financi market bask |
| market | strong growth recent year financi | market | bask glow sunni outlook equiti |
| market | bask glow sunni outlook equiti | market | set new high bond market |
| market | market set new high bond | market | shrug increas interest rate set |
| market | central bank spread corpor emerg | market | sovereign debt histor low liquid |
| econom | histor low liquid plenti risk | econom | prospect also seem diminish six |
| also | liquid plenti risk econom prospect | also | seem diminish six month ago |
| market | worri fallout downturn u hous | market | far seem limit apart credit |
| market | apart credit strain part mortgag | market | engag particular creativ lend worri |
| econom | moment fallen worri inflat pressur | econom | cycl matur risk gone away |
| global | still much us disord adjust | global | payment imbal risk relat low |
| global | low cost high although sign | global | imbal may stabil imbal like |
| market | extern account major asian emerg | market | countri notabl china oilexport countri |
| countri | account major asian emerg market | countri | notabl china oilexport countri japan |
| countri | market countri notabl china oilexport | countri | japan imbal unit state rest |
| global | lead abrupt chang could caus | global | financi market disrupt well econom |
| market | chang could caus global financi | market | disrupt well econom downturn fund |
| econom | global financi market disrupt well | econom | downturn fund taken lead bring |
| countri | taken lead bring number key | countri | togeth share analysi natur consequ |
| global | togeth share analysi natur consequ | global | imbal help build common understand |
| polici | imbal help build common understand | polici | design reduc imbal support global |
| global | polici design reduc imbal support | global | growth reduc global imbal gradual |
| growth | design reduc imbal support global | growth | reduc global imbal gradual process |
| global | imbal support global growth reduc | global | imbal gradual process inde one |
| market | fund initi use past year | market | polici develop gone right direct |
| polici | initi use past year market | polici | develop gone right direct reduc |
| global | invest measur help achiev rebalanc | global | demand would support order unwind |
| global | current account deficit without undermin | global | growth import welcom develop develop |
| growth | account deficit without undermin global | growth | import welcom develop develop less |
| global | welcom seen rippl effect continu | global | imbal first emerg strain global |
| global | global imbal first emerg strain | global | currenc market especi affect euro |
| market | first emerg strain global currenc | market | especi affect euro yen could |
| market | could trigger sudden shock financi | market | second stir protectionist sentiment around |
| global | world could result slow strangul | global | growth currenc market depreci dollar |
| growth | could result slow strangul global | growth | currenc market depreci dollar real |
| market | slow strangul global growth currenc | market | depreci dollar real effect term |
| countri | sterl rather currenc major surplus | countri | would better china make use |
| need | ago allow appreci renminbi dollar | need | appreci effect term would give |
| polici | give author room use monetari | polici | curb invest growth someth macroeconom |
| growth | use monetari polici curb invest | growth | someth macroeconom polici agenda chines |
| polici | curb invest growth someth macroeconom | polici | agenda chines leadership furthermor sinc |
| countri | chines leadership furthermor sinc asian | countri | concern competit china move could |
| also | concern competit china move could | also | encourag allow upward adjust exchang |
| growth | anoth develop give rise concern | growth | yen carri trade know practic |
| countri | practic borrow yen purchas secur | countri | attract japanes interest rate low |
| countri | carri trade seen capit flow | countri | like brazil turkey growth yendomin |
| growth | flow countri like brazil turkey | growth | yendomin mortgag countri rang korea |
| countri | brazil turkey growth yendomin mortgag | countri | rang korea latvia part owe |
| also | latvia part owe carri trade | also | increas intern invest japanes resid |
| global | yen year carri trade consequ | global | imbal rather reflect global financi |
| global | consequ global imbal rather reflect | global | financi market current environ low |
| market | imbal rather reflect global financi | market | current environ low volatil wide |
| global | entrench exchang rate misalign worsen | global | imbal depreci yen led increas |
| market | almost percent gdp moreov financi | market | countri expos risk sudden revers |
| countri | percent gdp moreov financi market | countri | expos risk sudden revers financi |
| countri | trade posit nevertheless concern investor | countri | fund flow suffici attent risk |
| economi | one percent last week howev | economi | emerg year deflat inflat still |
| need | inflat still uncomfort close zero | need | cautious increas rate moreov declin |
| countri | inform adequ assess system risk | countri | fund flow look care macroeconom |
| market | revers flow point futur financi | market | seem complac currenc moment polit |
| also | past year found increas trade | also | awar mani peopl doubt benefit |
| economi | continu migrat manufactur job advanc | economi | emerg market increas outsourc servic |
| market | manufactur job advanc economi emerg | market | increas outsourc servic job real |
| growth | trade tend product higher employ | growth | pay higher wage domest orient |
| econom | adjust concern worker displac higher | econom | uncertainti increas inequ legitim address |
| polici | uncertainti increas inequ legitim address | polici | strengthen economi adapt rather weaken |
| economi | inequ legitim address polici strengthen | economi | adapt rather weaken exampl trade |
| also | result decis import unit state | also | rest world believ crucial point |
| economi | columbia group agenda session ask | economi | latin american countri perform also |
| countri | session ask economi latin american | countri | perform also implic recent elect |
| also | economi latin american countri perform | also | implic recent elect result futur |
| econom | question suggest certain tension perhap | econom | perform region general good polit |
| econom | voter remain uncertain case dissatisfi | econom | outcom polici produc without delv |
| polici | uncertain case dissatisfi econom outcom | polici | produc without delv deepli polit |
| countri | without delv deepli polit individu | countri | would like explor reason appar |
| econom | like explor reason appar inconsist | econom | polit develop suggest dissatisfact voter |
| econom | suggest dissatisfact voter root real | econom | problem especi growth remain low |
| growth | root real econom problem especi | growth | remain low poverti level remain |
| countri | poverti level remain high mani | countri | also make suggest way forward |
| also | level remain high mani countri | also | make suggest way forward econom |
| econom | also make suggest way forward | econom | reform latin america address problem |
| econom | address problem begin though recent | econom | develop simpl statement region well |
| countri | simpl statement region well inde | countri | latin america better done mani |
| growth | year region enjoy period solid | growth | low inflat real econom growth |
| econom | solid growth low inflat real | econom | growth around percent current year |
| growth | growth low inflat real econom | growth | around percent current year expect |
| growth | around percent current year expect | growth | eas slight remain percent would |
| growth | current expans best sustain strong | growth | region sinc region inflat also |
| also | growth region sinc region inflat | also | declin period growth averag inflat |
| growth | region inflat also declin period | growth | averag inflat come last two |
| economi | year expect fall percent region | economi | boost high price commod export |
| global | high price commod export good | global | financi market condit strong growth |
| market | commod export good global financi | market | condit strong growth trade partner |
| growth | global financi market condit strong | growth | trade partner success also owe |
| also | strong growth trade partner success | also | owe great deal good polici |
| polici | also owe great deal good | polici | fiscal extern posit much stronger |
| countri | posit much stronger earlier expans | countri | flexibl exchang regim help absorb |
| growth | lower real interest rate support | growth | despit good perform polit candid |
| polici | question qualiti outcom recent year | polici | produc outcom question reson voter |
| countri | phenomenon leader populist agenda elect | countri | last year sever countri govern |
| countri | elect countri last year sever | countri | govern strong public commit reform |
| also | public commit reform elect reelect | also | distinct populist reformist obscur mani |
| polici | populist reformist obscur mani nuanc | polici | favor differ govern moreov rememb |
| econom | decad blossom democraci good good | econom | polici whatev detail program elect |
| polici | blossom democraci good good econom | polici | whatev detail program elect govern |
| countri | accompani stronger macroeconom manag mani | countri | nevertheless concern voter mani countri |
| countri | countri nevertheless concern voter mani | countri | express past year reveal genuin |
| econom | past year reveal genuin sourc | econom | discont despit progress recent year |
| growth | despit progress recent year rate | growth | still low relat region compar |
| need | low relat region compar level | need | enabl lowincom countri achiev millennium |
| countri | compar level need enabl lowincom | countri | achiev millennium develop goal meanwhil |
| growth | millennium develop goal meanwhil benefit | growth | uneven distribut level poverti inequ |
| countri | poverti inequ still high mani | countri | question best polici address problem |
| polici | high mani countri question best | polici | address problem approach govern taken |
| growth | reform would lead progress rais | growth | lower poverti progress made problem |
| also | fund experi region around world | also | support evid latin america crosscountri |
| econom | latin america crosscountri studi base | econom | indic direct measur reform show |
| growth | indic direct measur reform show | growth | better countri macroeconom polici strongest |
| countri | measur reform show growth better | countri | macroeconom polici strongest structur reform |
| polici | show growth better countri macroeconom | polici | strongest structur reform gone furthest |
| polici | structur reform gone furthest macroeconom | polici | avoid crise inflationari episod extrem |
| growth | episod extrem import generat sustain | growth | area structur reform countri liber |
| countri | sustain growth area structur reform | countri | liber trade reform role state |
| growth | manag highest per capita incom | growth | region general region countri becom |
| countri | incom growth region general region | countri | becom integr global economi pursu |
| global | general region countri becom integr | global | economi pursu trade good servic |
| economi | region countri becom integr global | economi | pursu trade good servic vigor |
| global | good servic vigor prosper increas | global | world support trade liber also |
| also | global world support trade liber | also | privat come studi base specif |
| countri | studi base specif industri various | countri | studi show trade liber privat |
| growth | rais labor product industri contribut | growth | nevertheless despit countri embrac reform |
| countri | industri contribut growth nevertheless despit | countri | embrac reform goal sustain high |
| growth | embrac reform goal sustain high | growth | poverti reduct remain elus mani |
| countri | poverti reduct remain elus mani | countri | led comment ask whether miss |
| growth | public good other would argu | growth | remain low reform target wrong |
| need | problem exampl greater focus institut | need | other argu everi countri need |
| countri | institut need other argu everi | countri | need differ reform agenda base |
| need | need other argu everi countri | need | differ reform agenda base posit |
| need | reform agenda base posit cultur | need | attempt import reform model outsid |
| countri | import reform model outsid serv | countri | well argument need answer let |
| need | outsid serv countri well argument | need | answer let take turn begin |
| polici | state could help view under | polici | countri answer area govern need |
| countri | could help view under polici | countri | answer area govern need also |
| need | polici countri answer area govern | need | also area need less cours |
| also | countri answer area govern need | also | area need less cours mani |
| need | area govern need also area | need | less cours mani activ state |
| need | less cours mani activ state | need | perform perform well includ maintain |
| countri | problem exampl mani central american | countri | includ maintain sound monetari system |
| also | build maintain adequ infrastructur activ | also | tradeoff exampl public invest infrastructur |
| financ | instabl higher expenditur cover deficit | financ | also activ state perform well |
| also | higher expenditur cover deficit financ | also | activ state perform well past |
| polici | state perform well past exampl | polici | aim promot specif industri often |
| economi | addit cost competitor foster dual | economi | imped invest growth economi whole |
| growth | foster dual economi imped invest | growth | economi whole regard argument need |
| economi | dual economi imped invest growth | economi | whole regard argument need greater |
| need | growth economi whole regard argument | need | greater focus institut think much |
| econom | arrang formal inform set framework | econom | polici commerc polit lifehav great |
| polici | formal inform set framework econom | polici | commerc polit lifehav great influenc |
| countri | commerc polit lifehav great influenc | countri | growth prospect may mean countri |
| growth | polit lifehav great influenc countri | growth | prospect may mean countri improv |
| countri | countri growth prospect may mean | countri | improv growth prospect prepar chang |
| growth | prospect may mean countri improv | growth | prospect prepar chang reform deep |
| also | may mean creat durabl reform | also | need creat durabl constitu reform |
| need | mean creat durabl reform also | need | creat durabl constitu reform question |
| countri | agenc intern monetari fund help | countri | improv institut framework answer must |
| countri | best madeinde perhap madefrom within | countri | institut like fund must take |
| countri | like fund must take member | countri | part institut find fund outsid |
| countri | outsid use exampl argument persuad | countri | merit particular institut arrang classic |
| econom | institut arrang classic exampl area | econom | institut grow intern recognit last |
| also | inflat intern institut aid donor | also | help provid technic assist countri |
| countri | also help provid technic assist | countri | pursu institut chang exampl fund |
| also | fund advoc central bank independ | also | given countri concret technic assist |
| countri | central bank independ also given | countri | concret technic assist design statut |
| countri | charter promot similar fund advis | countri | improv tax administr given concret |
| countri | administr given concret assist help | countri | improv custom intern revenu servic |
| countri | compar advantag share expertis member | countri | alway trod light area must |
| countri | area must continu final argument | countri | differ problem constraint growth serious |
| growth | argument countri differ problem constraint | growth | serious issu serious work underway |
| econom | serious issu serious work underway | econom | profess address itfor exampl use |
| growth | profess address itfor exampl use | growth | diagnost decis tree critic area |
| countri | tree critic area reform specif | countri | also issu fund comfort devot |
| also | critic area reform specif countri | also | issu fund comfort devot great |
| countri | deal resourc send team staff | countri | express purpos get know uniqu |
| economi | express purpos get know uniqu | economi | understand problem differ other also |
| also | economi understand problem differ other | also | remain true countri must compet |
| countri | differ other also remain true | countri | must compet global economi mani |
| global | remain true countri must compet | global | economi mani face common problem |
| economi | true countri must compet global | economi | mani face common problem deal |
| econom | chang maintain financi stabil law | econom | chang cross nation border still |
| growth | sens attempt identifi constraint imped | growth | mani countri polici overcom constraint |
| countri | identifi constraint imped growth mani | countri | polici overcom constraint sum believ |
| polici | constraint imped growth mani countri | polici | overcom constraint sum believ citizen |
| growth | latin america right concern rate | growth | still low rate poverti still |
| polici | right ask search question whether | polici | mix correct govern intern institut |
| countri | effort determin specif constraint individu | countri | must also lose sight work |
| also | specif constraint individu countri must | also | lose sight work continu work |
| growth | privat financi sector reform rais | growth | reduc poverti inde larg part |
| countri | larg part progress latin american | countri | made recent year result put |
| polici | principl practic way forward continu | polici | shown work refin polici necessari |
| polici | continu polici shown work refin | polici | necessari promot growth address poverti |
| growth | work refin polici necessari promot | growth | address poverti inequ sensit import |
| countri | sensit import institut circumst individu | countri | thank much |
| global | risk manag see increas import | global | financi stabil also grate de |
| also | increas import global financi stabil | also | grate de nederlandsch bank dnb |
| countri | regulatori framework pension netherland number | countri | remain need better evalu manag |
| need | pension netherland number countri remain | need | better evalu manag risk relat |
| polici | level qualiti save import issu | polici | maker past sever year address |
| global | sever year address mani issu | global | financi stabil report repeat highlight |
| market | imf focus role nonbank financi | market | context repeat welldocu fact relat |
| market | repeat welldocu fact relat signific | market | presenc pension fund inde togeth |
| countri | asset gather manag almost industri | countri | would emphas signific role togeth |
| polici | futur risk manag invest strategi | polici | maker influenc strategi various polici |
| polici | polici maker influenc strategi various | polici | lever regul account tax relat |
| polici | lever regul account tax relat | polici | becom increas import financi stabil |
| market | rate equiti price begin decad | market | shock led greater effort pension |
| market | strengthen risk manag alm practic | market | impact chang still evolv howev |
| market | manag practic limit risk unnecessari | market | volatil challeng ahead let briefli |
| need | transfer activ across financi system | need | well understood pension fund play |
| market | inde varieti role risk transfer | market | pension perhap frequent cite institut |
| need | stabil benefit may appear address | need | mobil workforc howev need consid |
| need | address need mobil workforc howev | need | consid whether individu adequ equip |
| market | risk suffici financi knowledg advic | market | instrument avail inde data inform |
| market | risk manag practic lead unnecessari | market | volatil instanc clear benefit increas |
| also | focus singlepoint account measur may | also | unnecessarili influenc pension fund behavior |
| market | asset liabil includ matur profil | market | interest rate sensit govern account |
| polici | requir policymak seek new creativ | polici | solut beyond welldocu fiscal challeng |
| market | govern may wish consid financi | market | support effort manag ageingrel risk |
| need | instanc new financi instrument may | need | support pension fund household invest |
| need | fund household invest risk manag | need | necessari data incent may lack |
| market | dissemin data best may influenc | market | develop certain case govern may |
| countri | question like approach differ across | countri | broad author may promot riskbas |
| market | risk transfer activ develop buyout | market | u k effort encourag market |
| market | market u k effort encourag | market | innov attract capit complex risk |
| polici | may consid may contribut public | polici | effort manag risk cost relat |
| polici | believ issu continu critic import | polici | develop year come let thank |
| polici | academ work multifacet challeng face | polici | maker end day take stock |
| market | issu face pension industri financi | market | well relat polici consider aim |
| polici | industri financi market well relat | polici | consider aim strengthen econom financi |
| econom | relat polici consider aim strengthen | econom | financi stabil long term thank |
| growth | face move path strong sustain | growth | poverti reduct heard presid two |
| countri | school larg number adult left | countri | countri human capit resourc diminish |
| countri | larg number adult left countri | countri | human capit resourc diminish govern |
| economi | capit resourc diminish govern suffer | economi | perform weaken consider moreov liberia |
| also | perform weaken consider moreov liberia | also | accumul unsustain level domest extern |
| econom | action plan activ endors govern | econom | manag assist program ask imf |
| polici | help monitor progress againsta macroeconom | polici | framework support econom reconstruct frameworkwhos |
| econom | againsta macroeconom polici framework support | econom | reconstruct frameworkwhos initi underpin establish |
| need | program alreadi begun restor fundament | need | spur privat sector develop emphas |
| growth | strategi must becom main engin | growth | pleas note key object staffmonitor |
| growth | achiev macroeconom front real gdp | growth | support continu peac extern financi |
| also | payment arrear liberia new govern | also | took big step toward resolv |
| also | liberia domest bank import step | also | taken strengthen central bank bank |
| also | strengthen bank sector central bank | also | final procedur resolv abandon nonoper |
| need | recoveri process begun liberia go | need | assist intern communiti achiev ambiti |
| economi | pillar enhanc nation secur revit | economi | strengthen govern rule law rehabilit |
| polici | area develop multiyear framework detail | polici | provid cost polici intervent import |
| polici | framework detail polici provid cost | polici | intervent import help secur support |
| need | import help secur support liberia | need | meet prioriti poverti reduct new |
| financ | formal fund arrang apart program | financ | assur besid aim improv econom |
| econom | financ assur besid aim improv | econom | govern public financi manag tax |
| also | program help spur privat sectorledgrowth | also | allow author establish kind polici |
| polici | also allow author establish kind | polici | implement record need advanc liberia |
| need | establish kind polici implement record | need | advanc liberia swift toward arrear |
| countri | well threshold heavili indebt poor | countri | hipc initi liberia arrear imf |
| financ | possibl underscor import mobil necessari | financ | arrear clearanc debt relief liberia |
| financ | full support reach agreement appropri | financ | packag let assur imf staff |
| global | work help liberia secur foothold | global | economi |
| economi | help liberia secur foothold global | economi | |
| financ | cairo today opportun discuss debt | financ | issu time signific accumul financi |
| market | signific accumul financi asset emerg | market | countri particular countri region saw |
| countri | accumul financi asset emerg market | countri | particular countri region saw morn |
| countri | asset emerg market countri particular | countri | region saw morn discuss improv |
| market | improv macroeconom condit mani emerg | market | countri combin ampl suppli credit |
| countri | macroeconom condit mani emerg market | countri | combin ampl suppli credit worldwid |
| financ | much easier debt manag secur | financ | attract term offer opportun refin |
| global | east northern africa region benefit | global | trend mani countri region improv |
| countri | region benefit global trend mani | countri | region improv debt profil reduc |
| also | posit impact high oil price | also | fiscal consolid privat public debt |
| polici | vulner nevertheless still rais sever | polici | challeng debt manag notabl among |
| market | sheet best develop local capit | market | explicit part welldevelop debt manag |
| also | part welldevelop debt manag strategi | also | remain awar despit today favor |
| financ | remain awar despit today favor | financ | condit still risk emerg market |
| market | financ condit still risk emerg | market | still expos sudden shift investor |
| market | expos sudden shift investor sentiment | market | volatil especi light increas correl |
| countri | better integr topic dialogu member | countri | egypt exampl look forward work |
| market | strategi implic macroeconom stabil capit | market | develop includ issu reflect secondari |
| market | develop includ issu reflect secondari | market | develop minist financ emphas morn |
| financ | reflect secondari market develop minist | financ | emphas morn general market overviewbut |
| market | minist financ emphas morn general | market | overviewbut let return global condit |
| global | general market overviewbut let return | global | condit sovereign debt market favor |
| market | return global condit sovereign debt | market | favor facilit activ debt manag |
| countri | swap buyback reach record level | countri | includ mani repres room prefinanc |
| market | prepaid imf loan clear emerg | market | matur asset class continu search |
| global | matur asset class continu search | global | institut investor yield portfolio diversif |
| countri | diversif combin import improv mani | countri | macrofundament led signific broaden investor |
| market | signific broaden investor base emerg | market | asset develop led histor shift |
| countri | sometim refer origin sin mani | countri | room share foreign currenc denomin |
| also | risk design sovereign debt instrument | also | evolv interest way forum discuss |
| financ | sovereign corpor tap new sourc | financ | increas instrument divers investor borrow |
| market | abl continu effect take advantag | market | opportun debt manag need clear |
| need | advantag market opportun debt manag | need | clear perspect desir structur portfolio |
| also | question new debt structur flow | also | whether opportun chang composit debt |
| financ | stock faster pace achiev new | financ | flow alon discuss tomorrow determin |
| market | strengthen investor confid enhanc stand | market | compon good debt manag strategi |
| market | analysi balanc sheet analysi local | market | develop maintain good investor base |
| polici | investor base link monetari fiscal | polici | debt sustain analysisth develop debt |
| polici | improv sovereign creditworthi primarili respons | polici | maker charg macroeconom manag debt |
| also | charg macroeconom manag debt manag | also | import role play debt manag |
| need | import role play debt manag | need | communic concern may implic fiscal |
| polici | communic concern may implic fiscal | polici | cost risk feasibl financ option |
| financ | fiscal polici cost risk feasibl | financ | option fiscal polici maker readi |
| polici | risk feasibl financ option fiscal | polici | maker readi adjust fiscal polici |
| polici | polici maker readi adjust fiscal | polici | reliev pressur identifi debt manag |
| also | rapid progress regard staff imf | also | activ work extens public sector |
| also | cashflow mismatch asset accumul seen | also | rais question asset use retir |
| countri | use retir govern debt cours | countri | ampl level reserv roll retir |
| polici | analysi implic exchang rate monetari | polici | potenti impact function develop local |
| market | function develop local money bond | market | domest capit market developmentthi bring |
| market | money bond market domest capit | market | developmentthi bring third link wish |
| market | link debt manag domest capit | market | develop opportun time make signific |
| market | signific inroad develop local capit | market | topic know mani attach high |
| market | high import deeper liquid domest | market | facilit improv structur portfolio exampl |
| market | payoff concert effort develop local | market | similar middl east north africa |
| market | welcom broader develop local capit | market | goe beyond govern bond market |
| market | market goe beyond govern bond | market | includ deriv fix incom market |
| market | market includ deriv fix incom | market | facilit growth better distribut risk |
| growth | deriv fix incom market facilit | growth | better distribut risk throughout economi |
| economi | growth better distribut risk throughout | economi | imf collabor mani countri region |
| countri | throughout economi imf collabor mani | countri | region broad support progress area |
| market | role play develop local capit | market | cannot alon need work regulatori |
| need | local capit market cannot alon | need | work regulatori bodi central bank |
| market | restrict institut investor creat oneway | market | unintend consequ reduc liquid secondari |
| market | unintend consequ reduc liquid secondari | market | thus hinder effect price format |
| countri | hinder effect price format exampl | countri | broadbas cooper approach best program |
| global | investor base report last april | global | financi stabil report becom divers |
| also | scope new instrument matur introduc | also | accompani strengthen market practic improv |
| market | matur introduc also accompani strengthen | market | practic improv account regul transpar |
| market | oper reduc likelihood misinform destabil | market | condit sever countri foreign investor |
| countri | misinform destabil market condit sever | countri | foreign investor hold signific proport |
| market | role foreign investor domest debt | market | repres welcom opportun bring differ |
| financ | certain instrument leav expos sudden | financ | shortfal strong twoway communic mitig |
| countri | princip holder domest debt mani | countri | help address emerg risk import |
| also | determin appropri strategi debt manag | also | need sensit interact choic econom |
| need | appropri strategi debt manag also | need | sensit interact choic econom polici |
| econom | also need sensit interact choic | econom | polici particular link monetari exchang |
| polici | need sensit interact choic econom | polici | particular link monetari exchang rate |
| polici | particular link monetari exchang rate | polici | sinc crise late countri move |
| countri | rate polici sinc crise late | countri | move increas greater exchang rate |
| countri | may hidden peg exchang rate | countri | realiz hard way view context |
| polici | toward greater use indirect monetari | polici | instrument repo increas overal attract |
| market | enhanc demand enhanc develop financi | market | general improv transmiss monetari polici |
| polici | market general improv transmiss monetari | polici | effect monetari polici implement hand |
| polici | transmiss monetari polici effect monetari | polici | implement hand enhanc polici credibl |
| polici | monetari polici implement hand enhanc | polici | credibl consequ reduc overal cost |
| market | sustain support develop local capit | market | anchor work two new divis |
| market | divis establish within monetari capit | market | depart imf sovereign asset liabil |
| market | asset liabil manag divis capit | market | develop divis work divis area |
| market | depart imf ensur debt manag | market | develop issu better integr relev |
| polici | issu better integr relev imf | polici | activ also activ engag rang |
| also | integr relev imf polici activ | also | activ engag rang partner includ |
| countri | sourc idea us develop think | countri | take effect approach manag togeth |
| countri | strategi continu provid technic advic | countri | issu imf activ involv sever |
| market | issu imf activ involv sever | market | develop initi region manag director |
| countri | maghreb financi integr initi work | countri | region assess money market includ |
| market | work countri region assess money | market | includ market shortterm govern secur |
| market | region assess money market includ | market | shortterm govern secur strengthen market |
| market | market shortterm govern secur strengthen | market | function financi integr within region |
| countri | effici wellintegr financi system maghreb | countri | help countri reach higher sustain |
| countri | financi system maghreb countri help | countri | reach higher sustain growth path |
| growth | help countri reach higher sustain | growth | path enabl reduc unemploy time |
| also | close develop gap euromediterranean region | also | open dialogu arab monetari fund |
| market | dialogu arab monetari fund bond | market | develop arab countri object strengthen |
| countri | fund bond market develop arab | countri | object strengthen capit market countri |
| market | arab countri object strengthen capit | market | countri particip collabor islam financi |
| countri | countri object strengthen capit market | countri | particip collabor islam financi servic |
| market | effort develop standard islam money | market | instrument conclusiondebt manag success taken |
| market | conclusiondebt manag success taken advantag | market | opportun improv structur debt portfolio |
| financ | continu ampl suppli credit access | financ | may longer press issu agenda |
| polici | assur imf continu partner relev | polici | discuss address challeng thank |
| global | global | topic everi public speaker must | |
| global | author number googl hit word | global | exceed million scale mountain report |
| global | hope talk help overcom fear | global | least fear vast subject come |
| market | cheap labor produc crowd everi | market | million china million india offer |
| countri | incorrect forecast relat fortun three | countri | despit alleg threat cheap labor |
| global | fear phenomenon would pain defin | global | actual quit easi defin need |
| need | global actual quit easi defin | need | lob question trick questionspromis mani |
| global | state boundari grant promis definit | global | simpli extens econom freedom beyond |
| econom | promis definit global simpli extens | econom | freedom beyond nation boundari mani |
| global | ago got chanc enjoy freedom | global | bring th birthday board plane |
| global | boundariesimmigrationi one five fundament freedom | global | provid four take freedom grant |
| global | june trigger chain event revers | global | anoth brilliant economist fredrich von |
| countri | norm elector democraci repres exist | countri | constitut near world popul cours |
| global | near world popul cours cours | global | run smooth year mid financi |
| market | financi crise disrupt intern capit | market | ve learn valuabl lesson experi |
| global | capit flow septemb saw attack | global | potenti devast sniper bullet merci |
| econom | devast sniper bullet merci intern | econom | integr thus far proven less |
| global | far proven less fragilein fact | global | economi record fastest fiveyear pace |
| economi | proven less fragilein fact global | economi | record fastest fiveyear pace growth |
| growth | economi record fastest fiveyear pace | growth | recent decad moral materi benefit |
| econom | moral materi benefit year expans | econom | freedom evid let begin latter |
| global | let begin latter materi benefit | global | longer live higher incom reduc |
| countri | vietnam exampl school enrol rose | countri | farmer abl sell rice global |
| global | countri farmer abl sell rice | global | price rise incom ladder develop |
| also | low pay poor work condit | also | provid poor opportun ve never |
| global | harm peopl intend help stiglitz | global | discont make similar point role |
| countri | role walmart might play develop | countri | one maintain sens perspect reason |
| countri | servic poor individu within develop | countri | import given close subsist mani |
| global | mani live mani accept benefit | global | worri rais incom inequ fact |
| global | worri rais incom inequ fact | global | inequ actual declin one treat |
| countri | advanc incom china india mani | countri | share good fortun global bring |
| global | mani countri share good fortun | global | bring within countri pattern chang |
| countri | good fortun global bring within | countri | pattern chang inequ defi easi |
| countri | inequ inde increas last year | countri | like unit state consensus caus |
| market | mention cleaner environ freedom free | market | eventu translat cleaner environ know |
| countri | know worst environment abus occur | countri | former soviet union central plan |
| market | central plan absenc polit freedom | market | economi contrast averag incom cross |
| economi | plan absenc polit freedom market | economi | contrast averag incom cross threshold |
| economi | pressur group flourish better open | economi | third compani concern reput therefor |
| countri | environment group mean everi develop | countri | wait middleincom countri clean environ |
| countri | everi develop countri wait middleincom | countri | clean environ necessarili technolog environment |
| countri | environment cleanup get better cheaper | countri | undoubt leapfrog start cleanup process |
| countri | nation inde alreadi happen mani | countri | environment lobbi group alreadi activ |
| countri | lobbi group alreadi activ mani | countri | quit effect learnt experi develop |
| countri | quit effect learnt experi develop | countri | group work doesn interject person |
| global | earlier let turn moral benefit | global | greatest moral benefit global bring |
| global | benefit global greatest moral benefit | global | bring greater toler other long |
| market | other long recogn one benefit | market | capit th centuri french writer |
| econom | recent book call moral consequ | econom | growth live standard increas also |
| growth | book call moral consequ econom | growth | live standard increas also improv |
| also | econom growth live standard increas | also | improv moral dimens societi greater |
| polici | follow great liber american immigr | polici | late start pushback immigr friedman |
| polici | pretend everi twist turn immigr | polici | span year unit state narrowli |
| econom | unit state narrowli anchor under | econom | growth versus stagnat add would |
| growth | state narrowli anchor under econom | growth | versus stagnat add would even |
| econom | would even foolish pretend under | econom | noth global improv moral dimens |
| global | foolish pretend under econom noth | global | improv moral dimens various societi |
| also | improv moral dimens various societi | also | open heretofor unknown vista opportun |
| global | truth selfevid even stiglitz write | global | reduc sens isol felt much |
| countri | well beyond reach even wealthiest | countri | centuri ago access knowledg educ |
| econom | ago access knowledg educ creat | econom | opportun also help temper excess |
| also | knowledg educ creat econom opportun | also | help temper excess polit leader |
| global | leader point made forc wolf | global | work say global put degre |
| global | forc wolf global work say | global | put degre competit pressur govern |
| econom | incompet corrupt bent make harm | econom | decis dubious polit end one |
| economi | way get mend way open | economi | global competit forc dramat exampl |
| global | get mend way open economi | global | competit forc dramat exampl pressur |
| global | re manag back room biggest | global | compani world today take week |
| global | week war kashmir given benefit | global | fair ask target much critic |
| global | fact fair antiglob mani realli | global | rather want chang make benefit |
| economi | often accompani life dynam freemarket | economi | global add signific job churn |
| global | accompani life dynam freemarket economi | global | add signific job churn factor |
| global | technolog progress much bigger factor | global | oppon made wise decis oppos |
| global | decis oppos progress second explan | global | get blame social ill creat |
| also | ill creat huge number winner | also | mani lose get share benefit |
| global | accompani loss real peopl disloc | global | forc well need help form |
| need | peopl disloc global forc well | need | help form unemploy benefit support |
| global | protect peopl job third explan | global | institut rule need make global |
| need | third explan global institut rule | need | make global work better place |
| global | global institut rule need make | global | work better place often effect |
| global | broad support given passion surround | global | seem fit draw close ask |
| global | draw close ask futur hold | global | unit state elsewher momentum surround |
| global | unit state elsewher momentum surround | global | autopilot continu put test individu |
| global | decis whether support polit candid | global | oppos look back presidenti elect |
| global | primari unit state bear point | global | constant put vote thus far |
| global | result referendum good news support | global | giant suck sound ross perot |
| global | popul govern elector democraci mean | global | put test elect globe global |
| global | global put test elect globe | global | deliv five fundament econom freedom |
| econom | globe global deliv five fundament | econom | freedom peopl free choos choos |
| global | free choos choos pace wish | global | let conclud realli troll million |
| global | wonder book make singl bookshelf | global | though quot jagdish bhagwati brilliant |
| global | quot jagdish bhagwati brilliant defens | global | form think end materi websit |
| global | materi websit book make defend | global | experi benefit stori million like |
| also | benefit stori million like behalf | also | benefit global grate opportun share |
| global | million like behalf also benefit | global | grate opportun share stori thank |
| market | develop deeper liquid local capit | market | emerg economi m happi abl |
| economi | liquid local capit market emerg | economi | m happi abl emphas word |
| market | crisi year reason welldevelop capit | market | place mani emerg economi inde |
| economi | capit market place mani emerg | economi | inde end stock domest issu |
| market | stock domest issu bond emerg | market | countri amount us trillion constitut |
| countri | domest issu bond emerg market | countri | amount us trillion constitut import |
| global | amount us trillion constitut import | global | asset class awar speak today |
| market | sounder resili key role financi | market | emerg market economi wide recogn |
| market | key role financi market emerg | market | economi wide recogn particular gratifi |
| economi | role financi market emerg market | economi | wide recogn particular gratifi graduat |
| econom | author pathbreak book financi deepen | econom | develop near four decad later |
| market | sign thing chang better emerg | market | intern investor increas purchas secur |
| market | currenc quot figur dedic emerg | market | u mutual fund grow rapid |
| market | mid stock domest secur emerg | market | economi increas estim gdp thus |
| economi | stock domest secur emerg market | economi | increas estim gdp thus mani |
| market | estim gdp thus mani emerg | market | seem manag aton investor eye |
| market | begin overcom structur weak lack | market | credibl mani expert assum less |
| economi | assum less perman claim releg | economi | borrow intern foreign currenc overcom |
| need | ampl liquid cours investor offici | need | awar potenti risk time howev |
| market | develop view grow internation emerg | market | secur reflect import structur chang |
| global | import structur chang take place | global | economi global market includ notabl |
| economi | structur chang take place global | economi | global market includ notabl grow |
| global | chang take place global economi | global | market includ notabl grow integr |
| market | take place global economi global | market | includ notabl grow integr new |
| market | grow integr new role emerg | market | countri global economi grow sophist |
| countri | integr new role emerg market | countri | global economi grow sophist financi |
| global | new role emerg market countri | global | economi grow sophist financi market |
| economi | role emerg market countri global | economi | grow sophist financi market risk |
| market | global economi grow sophist financi | market | risk manag addit also repres |
| also | financi market risk manag addit | also | repres unexpect benign econom financi |
| econom | addit also repres unexpect benign | econom | financi environ past year ve |
| global | year ve fastest fiveyear period | global | growth recent time forthcom stanc |
| growth | ve fastest fiveyear period global | growth | recent time forthcom stanc intern |
| econom | signal import vote confid futur | econom | financi stabil prevail environ macroeconom |
| economi | prevail environ macroeconom stabil oecd | economi | expect continu come year probabl |
| market | come year probabl beyond emerg | market | countri offer tremend opportun essenti |
| countri | year probabl beyond emerg market | countri | offer tremend opportun essenti fulli |
| economi | capit unusu moment mani emerg | economi | happili take right step substanti |
| polici | macroeconom perform strengthen monetari budget | polici | develop complet stabl domest financi |
| market | develop complet stabl domest financi | market | also taken advantag general favor |
| also | complet stabl domest financi market | also | taken advantag general favor environ |
| economi | intern financi institut ifi advanc | economi | author support greater integr emerg |
| market | author support greater integr emerg | market | countri world capit market import |
| countri | support greater integr emerg market | countri | world capit market import prioriti |
| market | emerg market countri world capit | market | import prioriti regard preserv combin |
| growth | prioriti regard preserv combin steadi | growth | low inflat matur market addit |
| market | steadi growth low inflat matur | market | addit work need better understand |
| need | inflat matur market addit work | need | better understand financi market trend |
| market | work need better understand financi | market | trend drive globalizationinclud exampl help |
| market | instrument institut includ hedg fund | market | develop high speed underscor need |
| need | market develop high speed underscor | need | help emerg market build solid |
| market | speed underscor need help emerg | market | build solid financi system exampl |
| market | instrument provid obvious benefitsthey ad | market | liquid help transfer risk much |
| also | sens ve contribut stabil ve | also | help reduc market ineffici time |
| market | stabil ve also help reduc | market | ineffici time knowledg practic regulatori |
| need | knowledg practic regulatori supervisori author | need | keep develop basic goal much |
| need | goal much oversight necessari beyond | need | comprehens system approach deal potenti |
| market | comprehens system approach deal potenti | market | stress need crisi prevent crisi |
| need | approach deal potenti market stress | need | crisi prevent crisi resolut method |
| market | crisi resolut method work grain | market | grain need hard tell audienc |
| need | method work grain market grain | need | hard tell audienc wellfunct local |
| market | tell audienc wellfunct local capit | market | make vital contribut effici stabil |
| global | make vital contribut effici stabil | global | financi intermedi certain experi emerg |
| economi | financi intermedi certain experi emerg | economi | underlin fundament import deepen broaden |
| growth | deepen broaden financi sector underpin | growth | fact new fund research indic |
| market | research indic last year emerg | market | economi averag grown close three |
| economi | indic last year emerg market | economi | averag grown close three time |
| countri | three time faster group develop | countri | activ particip financi global nevertheless |
| global | develop countri activ particip financi | global | nevertheless still potenti addit substanti |
| growth | nevertheless still potenti addit substanti | growth | financi market economi percent gdp |
| market | potenti addit substanti growth financi | market | economi percent gdp emerg market |
| economi | addit substanti growth financi market | economi | percent gdp emerg market outstand |
| market | market economi percent gdp emerg | market | outstand bond market capit still |
| market | gdp emerg market outstand bond | market | capit still nascent compar percent |
| market | nascent compar percent gdp matur | market | moreov develop domest debt market |
| market | market moreov develop domest debt | market | remain still uneven across emerg |
| market | remain still uneven across emerg | market | univers largest six market south |
| market | emerg market univers largest six | market | south korea china brazil india |
| market | percent domest outstand bond emerg | market | corpor bond market emerg market |
| market | bond emerg market corpor bond | market | emerg market countri remain underdevelop |
| market | market corpor bond market emerg | market | countri remain underdevelop end emerg |
| countri | corpor bond market emerg market | countri | remain underdevelop end emerg market |
| market | countri remain underdevelop end emerg | market | nonsovereign debt issu domest market |
| market | market nonsovereign debt issu domest | market | amount billion compar trillion sovereign |
| market | sovereign debt key issu emerg | market | author need consid address confer |
| need | key issu emerg market author | need | consid address confer mention briefli |
| economi | mention briefli includ ifi advanc | economi | part facilit deeper domest capit |
| market | part facilit deeper domest capit | market | emerg economi let first state |
| economi | deeper domest capit market emerg | economi | let first state imf help |
| market | effort institut third govern matur | market | help certain imf part respons |
| market | center excel understand role financi | market | impact global economi world integr |
| global | understand role financi market impact | global | economi world integr financi market |
| economi | role financi market impact global | economi | world integr financi market largescal |
| market | global economi world integr financi | market | largescal capit flow imf cannot |
| countri | sector issu effect integr analysi | countri | worknam context articl iv consult |
| economi | consult regular bilater check member | economi | work also support cours global |
| also | bilater check member economi work | also | support cours global analysi risk |
| global | economi work also support cours | global | analysi risk contain imf semiannu |
| global | analysi risk contain imf semiannu | global | financi stabil report gfsr recent |
| market | initi new departmentth monetari capit | market | departmentha creat merg work two |
| market | depart one respons intern capit | market | monetari polici financi sector issu |
| polici | respons intern capit market monetari | polici | financi sector issu under messag |
| market | longer appropri view intern extern | market | separ financi macroeconom develop increas |
| market | depart work precis issu capit | market | develop discuss today work expect |
| market | give advic develop local capit | market | know diagnost technic assist work |
| countri | technic assist work must reflect | countri | demand prioriti imf advic sovereign |
| also | imf advic sovereign debt manag | also | becom comprehens scope take account |
| also | overal sovereign assetli manag advic | also | recogn interfac sovereign debt manag |
| polici | interfac sovereign debt manag monetari | polici | oper interbank money market proper |
| market | monetari polici oper interbank money | market | proper capit central bank also |
| also | market proper capit central bank | also | expect undertak diagnost technic assist |
| market | assist work relat nonsovereign bond | market | emphas work multilater region context |
| market | aggress promot develop local capit | market | conduct work critic import work |
| market | standard lesson appropri adapt emerg | market | environ know develop data dissemin |
| global | inform imf surveil nation region | global | level coordin ifi bilater agenc |
| also | level coordin ifi bilater agenc | also | good regulatori agenciessuch basel committe |
| countri | imf help implement work individu | countri | give agenc valuabl feedback fact |
| market | principl bank insur supervis said | market | move continu collabor alway work |
| economi | could includ welcom initi advanc | economi | notabl g partner facilit effort |
| market | effort familiar welldevelop local capit | market | import sourc advic help emerg |
| market | import sourc advic help emerg | market | polici maker regul help propag |
| polici | sourc advic help emerg market | polici | maker regul help propag good |
| polici | propag good practic identif specif | polici | action foster local capit market |
| market | polici action foster local capit | market | liquid develop initi could involv |
| market | ifi technic assist host emerg | market | sovereign debt manag secur regul |
| economi | conduit second g counterpart advanc | economi | direct incent support initi given |
| market | increas institut retail invest matur | market | emerg local capit market relat |
| market | matur market emerg local capit | market | relat low cost initi potenti |
| polici | let conclud stress belief combin | polici | improv good econom perform emerg |
| econom | belief combin polici improv good | econom | perform emerg market contribut explos |
| market | improv good econom perform emerg | market | contribut explos lend emerg economi |
| economi | market contribut explos lend emerg | economi | unpreced increas seen crossbord capit |
| polici | reform overal messag clear good | polici | reward |
| also | costa rica host confer would | also | like give special welcom guest |
| polici | invest central america obstacl invest | polici | remov obstacl ll say someth |
| countri | step back ask invest import | countri | peopl live world global pace |
| global | import countri peopl live world | global | pace technolog chang stagger extent |
| countri | stagger extent speed innov one | countri | cross border exchang good capit |
| global | end export peopl want stop | global | carri prospect improv live peopl |
| countri | carri prospect improv live peopl | countri | tri manag global make work |
| global | live peopl countri tri manag | global | make work citizen task govern |
| global | cost risk chief among opportun | global | give rise prospect higher growth |
| growth | global give rise prospect higher | growth | higher live standard promot free |
| countri | promot free trade central american | countri | deploy maximum extent possibl law |
| countri | incom citizen encourag financi flow | countri | region make use save outsid |
| global | america take advantag opportun afford | global | region integr greater open trade |
| need | benefit higher invest see achiev | need | look littl north decad sign |
| also | ratio part solut rais product | also | chronic low latin america also |
| also | also chronic low latin america | also | import action togeth produc impress |
| growth | invest rais percent gdp product | growth | percent year polici necessari support |
| polici | gdp product growth percent year | polici | necessari support foreign domest invest |
| growth | support foreign domest invest promot | growth | especi look forward hear view |
| countri | give thought base fund experi | countri | around world countri region maintain |
| countri | fund experi countri around world | countri | region maintain macroeconom stabil clear |
| growth | macroeconom stabil clear import part | growth | invest equat countri central america |
| countri | import part growth invest equat | countri | central america well averag growth |
| growth | countri central america well averag | growth | five percent last year level |
| countri | recent year inflat singl digit | countri | region central american countri achiev |
| countri | digit countri region central american | countri | achiev result notwithstand signific deterior |
| need | invest remain relat low region | need | done reduc financi sector risk |
| polici | confid crise produc sudden revers | polici | continu polit commit prudent fiscal |
| polici | continu polit commit prudent fiscal | polici | control inflat therefor first condit |
| growth | condit increas invest promot sustain | growth | anoth import element invest decis |
| growth | framework would promot invest stimul | growth | also import stabl predict legal |
| also | would promot invest stimul growth | also | import stabl predict legal framework |
| also | particular import investor financi integr | also | help establish broader invest market |
| market | also help establish broader invest | market | includ remitt central american communiti |
| market | financi institut origin focus home | market | provid servic throughout central america |
| polici | share inform harmon regul coordin | polici | coordin also import tax polici |
| also | harmon regul coordin polici coordin | also | import tax polici govern region |
| polici | polici coordin also import tax | polici | govern region well awar m |
| need | tax competit particular concern region | need | boost educ infrastructur great tax |
| financ | low recogn maintain strong public | financ | vital close mention one special |
| polici | close mention one special set | polici | potenti increas invest growth also |
| growth | set polici potenti increas invest | growth | also address direct issu poverti |
| also | polici potenti increas invest growth | also | address direct issu poverti inequ |
| also | labor know would welcom investor | also | promot equal opportun lift peopl |
| market | opportun lift peopl poverti labor | market | reform also help promot skill |
| also | peopl poverti labor market reform | also | help promot skill labor forc |
| also | financi servic promot save invest | also | offer opportun poor countri region |
| countri | invest also offer opportun poor | countri | region alreadi taken lead measur |
| also | lead measur deepen human capit | also | target poverti includ innov condit |
| growth | educ action like conduc invest | growth | also import right essenti benefit |
| also | action like conduc invest growth | also | import right essenti benefit invest |
| growth | import right essenti benefit invest | growth | share wide particular reach poorest |
| econom | central america world experienc wave | econom | financi global mani benefit everyon |
| global | world experienc wave econom financi | global | mani benefit everyon enjoy benefit |
| need | mani benefit everyon enjoy benefit | need | come respons lost global yet |
| global | benefit need come respons lost | global | yet reach inde good part |
| countri | goal exampl refin work lowincom | countri | ensur focus issu make greatest |
| countri | issu make greatest contribut help | countri | rais growth reduc poverti examin |
| growth | greatest contribut help countri rais | growth | reduc poverti examin tool combat |
| economi | financi crise damag latin american | economi | past cannot solv problem global |
| global | economi past cannot solv problem | global | confer make import contribut polici |
| polici | global confer make import contribut | polici | potenti deliv benefit look forward |
| econom | mani other india achiev robust | econom | growth recent year testament sound |
| growth | other india achiev robust econom | growth | recent year testament sound policymak |
| growth | peopl commit educ exampl catalyst | growth | number industri includ inform technolog |
| global | start point today touch state | global | economi state indian economi turn |
| economi | point today touch state global | economi | state indian economi turn work |
| economi | state global economi state indian | economi | turn work underway imf includ |
| also | economist technic expert throughout world | also | past four year character remark |
| growth | year character remark rapid sustain | growth | virtual everi part world global |
| global | growth virtual everi part world | global | growth per cent mark fourth |
| growth | virtual everi part world global | growth | per cent mark fourth consecut |
| global | percent repres fastest fouryear period | global | gdp gain two decad fund |
| growth | gain two decad fund project | growth | rate percent time under inflat |
| global | increas energi commod price coincid | global | economi grow indian economi india |
| economi | energi commod price coincid global | economi | grow indian economi india becom |
| economi | coincid global economi grow indian | economi | india becom increas open good |
| countri | becom increas open good servic | countri | throughout world see gain come |
| growth | throughout world see gain come | growth | countri continu growth global economi |
| countri | world see gain come growth | countri | continu growth global economi preordain |
| growth | gain come growth countri continu | growth | global economi preordain cours policymak |
| global | come growth countri continu growth | global | economi preordain cours policymak india |
| economi | growth countri continu growth global | economi | preordain cours policymak india countri |
| countri | economi preordain cours policymak india | countri | need awar factor could lead |
| need | preordain cours policymak india countri | need | awar factor could lead global |
| global | need awar factor could lead | global | growth slow first cool u |
| growth | awar factor could lead global | growth | slow first cool u hous |
| market | slow first cool u hous | market | could caus slowdown u economi |
| economi | market could caus slowdown u | economi | second rise inflationari pressur may |
| financ | suppli shock polit uncertainti fourth | financ | global imbal could bring disord |
| global | shock polit uncertainti fourth financ | global | imbal could bring disord exchanger |
| market | time horizon key challeng emerg | market | countri seek sustain recent growth |
| countri | horizon key challeng emerg market | countri | seek sustain recent growth har |
| growth | market countri seek sustain recent | growth | har benefit global minim accompani |
| global | sustain recent growth har benefit | global | minim accompani risk way achiev |
| polici | firmer commit sound fiscal monetari | polici | exampl would lead sustain debt |
| market | burden develop deepen local capit | market | particular asia promot greater region |
| countri | promot greater region integr allow | countri | make effici use huge pool |
| also | use huge pool domest save | also | help lay sounder foundat futur |
| growth | help lay sounder foundat futur | growth | challeng ve touch extend india |
| countri | challeng ve touch extend india | countri | benefit abl approach issu posit |
| growth | issu posit strength averag annual | growth | rate eight percent past three |
| growth | reform would slowergrowth environ india | growth | testament payoff comprehens econom reform |
| econom | india growth testament payoff comprehens | econom | reform task implement polici enabl |
| polici | comprehens econom reform task implement | polici | enabl india build growth also |
| growth | implement polici enabl india build | growth | also continu reduc poverti rate |
| also | polici enabl india build growth | also | continu reduc poverti rate modern |
| countri | continu reduc poverti rate modern | countri | infrastructur transport telecom critic arteri |
| polici | remain strong clear import maintain | polici | climat allow india extraordinari reservoir |
| also | maintain price stabil fiscal disciplin | also | mean continu deregul busi sector |
| need | busi sector indian govern understand | need | reform help sustain econom growth |
| econom | understand need reform help sustain | econom | growth rate support govern strategi |
| growth | need reform help sustain econom | growth | rate support govern strategi move |
| econom | special opportun fund adapt new | econom | realiti talk reform agenda though |
| global | govern face balanceofpay crisi strength | global | economi enabl fund focus energi |
| economi | face balanceofpay crisi strength global | economi | enabl fund focus energi two |
| countri | surveil technic assist involv help | countri | build human institut capac design |
| econom | institut capac design implement effect | econom | polici surveil hand focus promot |
| polici | capac design implement effect econom | polici | surveil hand focus promot growth |
| growth | polici surveil hand focus promot | growth | financi stabil intern econom system |
| econom | promot growth financi stabil intern | econom | system end involv discuss member |
| countri | system end involv discuss member | countri | advanc object prevent econom crise |
| econom | member countri advanc object prevent | econom | crise technic assist surveil heart |
| growth | enhanc abil promot even greater | growth | stabil economi throughout world strategi |
| economi | promot even greater growth stabil | economi | throughout world strategi cover aspect |
| econom | effort imf fulli appreci complex | econom | policymak world increas integr nation |
| economi | policymak world increas integr nation | economi | offici confront daunt number complic |
| countri | analysi action make even import | countri | develop sound institut underpin end |
| countri | center throughout world goal help | countri | build intellectu infrastructur one assist |
| countri | strengthen domest policymak alreadi train | countri | offici train focus number topic |
| countri | flow debt relief absorb lowincom | countri | manner doesn introduc econom ineffici |
| econom | lowincom countri manner doesn introduc | econom | ineffici distort conduct train recogn |
| countri | ineffici distort conduct train recogn | countri | need program could specif tailor |
| need | distort conduct train recogn countri | need | program could specif tailor region |
| econom | program could specif tailor region | econom | condit work reserv bank india |
| polici | topic includ macroeconom manag monetari | polici | bank supervis foreignexchang oper opportun |
| growth | year foundat deliv even greater | growth | stabil opportun know great reason |
| economi | million experienc extraordinari potenti indian | economi | opportun spread faster farther anyon |
| economi | arminarm help creat condit india | economi | continu grow men women children |
| countri | continu grow men women children | countri | see hope realiz dream fulfil |
| economi | ten year ago major emerg | economi | hit currenc crisi trigger capit |
| countri | corpor sector great damag asian | countri | overcam crisi proud intern communiti |
| countri | fund stood shoulder shoulder asian | countri | throughout intern communiti provid financi |
| polici | support host today japan success | polici | adopt asian countri support fund |
| countri | japan success polici adopt asian | countri | support fund seen asia today |
| market | year learn guard consequ capit | market | disrupt last decad global integr |
| global | capit market disrupt last decad | global | integr capit market becom even |
| market | last decad global integr capit | market | becom even deeper result benefit |
| countri | volatil capit movement increas asian | countri | fund also better equip deal |
| also | movement increas asian countri fund | also | better equip deal risk mani |
| countri | better equip deal risk mani | countri | move flexibl exchang rate strengthen |
| polici | flexibl exchang rate strengthen macroeconom | polici | framework built reserv first line |
| countri | first line defens crise asian | countri | work togeth establish mechan chiang |
| also | help member deal futur crise | also | give greater weight polici advic |
| polici | crise also give greater weight | polici | advic risk associ capit movement |
| economi | emphasi consider balanc sheet whole | economi | develop financi sector assess program |
| also | fsap standard code initi fund | also | learn import countri ownership give |
| countri | initi fund also learn import | countri | ownership give promin govern prioriti |
| growth | cover issu critic macroeconom stabil | growth | progress recent year asian countri |
| countri | growth progress recent year asian | countri | still face number challeng financi |
| global | still face number challeng financi | global | demograph chang inequ continu poverti |
| global | asia alreadi reap mani benefit | global | play major role global economi |
| global | benefit global play major role | global | economi asia account quarter gdp |
| economi | global play major role global | economi | asia account quarter gdp global |
| global | economi asia account quarter gdp | global | trade trend toward even greater |
| economi | toward even greater role asian | economi | recent led china india becom |
| growth | led china india becom engin | growth | world asia increas weight global |
| global | growth world asia increas weight | global | economi must match increas right |
| economi | world asia increas weight global | economi | must match increas right respons |
| econom | increas right respons conduct intern | econom | polici intern communiti learn asia |
| polici | right respons conduct intern econom | polici | intern communiti learn asia success |
| market | step process increas represent emerg | market | countri includ asian countri fund |
| countri | process increas represent emerg market | countri | includ asian countri fund decis |
| countri | emerg market countri includ asian | countri | fund decis made asian capit |
| also | fund decis made asian capit | also | increas effect elsewher asia beyond |
| polici | asia beyond china exchang rate | polici | implic dollareuro exchang rate asian |
| countri | implic dollareuro exchang rate asian | countri | well fed european central bank |
| economi | account increas signific asia world | economi | make import design nation polici |
| polici | economi make import design nation | polici | promot asia develop rebal growth |
| growth | polici promot asia develop rebal | growth | region support multilater solut global |
| global | growth region support multilater solut | global | problem imf close engag asia |
| global | engag asia seek understand region | global | issu asian perspect financi integr |
| economi | financi integr among major asian | economi | repres challeng also huge opportun |
| also | major asian economi repres challeng | also | huge opportun trade integr alreadi |
| market | suppli chain integr region financi | market | begin asia alon face problem |
| also | servic financi integr barrier integr | also | similar asia europ especi difficulti |
| market | especi difficulti harmon law regul | market | infrastructur pleas abl take part |
| econom | financi integr potenti bring great | econom | benefit better financi servic busi |
| global | financi integr continu complement integr | global | economi asia like advanc emerg |
| economi | integr continu complement integr global | economi | asia like advanc emerg economi |
| economi | economi asia like advanc emerg | economi | also face demograph chang japan |
| also | asia like advanc emerg economi | also | face demograph chang japan alreadi |
| countri | implic age popul mani asian | countri | also face challeng advic fund |
| also | age popul mani asian countri | also | face challeng advic fund given |
| countri | face challeng advic fund given | countri | effect immin includ countri western |
| countri | given countri effect immin includ | countri | western europ reduc structur fiscal |
| need | public debt provid flexibl avoid | need | drastic measur later rise inequ |
| countri | rise inequ within region within | countri | pose new problem problem uniqu |
| global | new problem problem uniqu asia | global | given rise rise premium skill |
| countri | rise rise premium skill educ | countri | increas inequ produc compound emerg |
| economi | increas inequ produc compound emerg | economi | effect shift agricultur industri servic |
| countri | agricultur industri servic know asian | countri | conscious risk rise inequ import |
| need | import social harmoni fund member | need | give prioriti polici spread benefit |
| polici | fund member need give prioriti | polici | spread benefit growth preserv incent |
| growth | give prioriti polici spread benefit | growth | preserv incent generat growth polici |
| growth | benefit growth preserv incent generat | growth | polici could includ measur improv |
| polici | growth preserv incent generat growth | polici | could includ measur improv educ |
| market | improv educ infrastructur liber labor | market | broaden access financ strengthen effici |
| financ | liber labor market broaden access | financ | strengthen effici social safeti net |
| countri | asia challeng uniqu around world | countri | deal opportun challeng creat global |
| global | countri deal opportun challeng creat | global | part fund reform help member |
| market | better captur role dynam emerg | market | global economi plan increas basic |
| global | captur role dynam emerg market | global | economi plan increas basic vote |
| economi | role dynam emerg market global | economi | plan increas basic vote bolster |
| countri | vote bolster voic low incom | countri | fund deepli commit success reform |
| global | specif problem common concern start | global | econom imbal deepen analysi equilibrium |
| econom | problem common concern start global | econom | imbal deepen analysi equilibrium exchang |
| economi | multicountri framework extend major emerg | economi | better integr surveil financi sector |
| countri | better integr surveil financi sector | countri | surveil anoth element reform surveil |
| also | transpar ensur surveil evenhand focus | also | rais bar countri surveil level |
| countri | evenhand focus also rais bar | countri | surveil level current best practic |
| economi | lead exampl open effect surveil | economi | fund asia fund come long |
| financ | new stage journey perspect former | financ | minist well head imf deepli |
| countri | well head imf deepli respect | countri | institut achiev rapid scale resumpt |
| growth | institut achiev rapid scale resumpt | growth | countri extraordinari success asia central |
| countri | achiev rapid scale resumpt growth | countri | extraordinari success asia central bank |
| econom | d like focus most today | econom | challeng face european countri also |
| countri | today econom challeng face european | countri | also want link say europ |
| also | econom challeng face european countri | also | want link say europ broader |
| econom | europ broader issu import multilater | econom | polici let begin draw attent |
| polici | broader issu import multilater econom | polici | let begin draw attent three |
| also | event may seem unrel signific | also | signific symbol intern cooper first |
| also | great achiev citizen bulgaria romania | also | great achiev european union latest |
| market | repay loan contract asian emerg | market | asian crisi decad ago signific |
| financ | loan unit state canada contract | financ | reconstruct britain second world war |
| countri | relat new approach brought european | countri | countri around world year econom |
| countri | new approach brought european countri | countri | around world year econom develop |
| econom | countri countri around world year | econom | develop prosper three event bring |
| econom | option year ahead want talk | econom | option european countri ensur continu |
| countri | want talk econom option european | countri | ensur continu advanc develop prosper |
| econom | known time adapt world largescal | econom | crise moment past public institut |
| polici | futur crise persuad member adopt | polici | prevent final repay longago loan |
| econom | help let elabor thought begin | econom | challeng face europ econom polici |
| econom | begin econom challeng face europ | econom | polici prioriti europ european economi |
| polici | econom challeng face europ econom | polici | prioriti europ european economi current |
| economi | econom polici prioriti europ european | economi | current strong posit one welcom |
| global | strong posit one welcom featur | global | econom growth becam better balanc |
| econom | posit one welcom featur global | econom | growth becam better balanc region |
| growth | one welcom featur global econom | growth | becam better balanc region recent |
| growth | better balanc region recent past | growth | larg driven demand unit state |
| growth | china india becom import engin | growth | world economi also see longawait |
| economi | becom import engin growth world | economi | also see longawait pickup invest |
| also | import engin growth world economi | also | see longawait pickup invest employ |
| growth | invest employ europ fund estim | growth | euro area  ½ percent |
| global | resurg protection one greatest sourc | global | growth recent year increas freedom |
| growth | protection one greatest sourc global | growth | recent year increas freedom trade |
| countri | doha round share respons among | countri | particular larger economi advanc emerg |
| economi | respons among countri particular larger | economi | advanc emerg market countri bring |
| market | particular larger economi advanc emerg | market | countri bring doha round success |
| countri | larger economi advanc emerg market | countri | bring doha round success conclus |
| growth | appropri socioeconom model promot job | growth | spirit contribut debat would singl |
| countri | singl two area think european | countri | could use concentr effort consolid |
| polici | use concentr effort consolid fiscal | polici | structur reform high structur fiscal |
| countri | govern debt still problem mani | countri | includ europ easier econom sensibl |
| econom | mani countri includ europ easier | econom | sensibl reduc deficit economi strong |
| economi | easier econom sensibl reduc deficit | economi | strong weak import distinguish headlin |
| countri | headlin structur deficit mani european | countri | ambiti action need tackl structur |
| need | mani european countri ambiti action | need | tackl structur deficit fund recommend |
| countri | tackl structur deficit fund recommend | countri | yet achiev mediumterm object budget |
| countri | percent gdp year govern ambiti | countri | set ambiti fiscal target polici |
| polici | countri set ambiti fiscal target | polici | achiev adjust plan most specifi |
| countri | would hit percent gdp howev | countri | meet mediumterm object debt would |
| also | head serious longterm problem issu | also | urgent popul age advanc countri |
| countri | also urgent popul age advanc | countri | demand govern like increas time |
| growth | lisbon packag could rais potenti | growth | Â ½ Â ¾ percentag |
| countri | import first deregul strong evid | countri | adopt packag labor market product |
| market | evid countri adopt packag labor | market | product market liber achiev good |
| market | adopt packag labor market product | market | liber achiev good outcom employ |
| econom | liber achiev good outcom employ | econom | growth mani approach taken labor |
| growth | achiev good outcom employ econom | growth | mani approach taken labor market |
| market | growth mani approach taken labor | market | reform recent fund publish studi |
| market | import progress moreov kind labor | market | reform like effect accompani product |
| market | reform like effect accompani product | market | reform especi liber regul servic |
| market | servic sector enabl flexibl labor | market | translat increas incom rather increas |
| market | financi sector reform bank financi | market | general play vital role direct |
| growth | invest increas product vital europ | growth | prospect area bank see three |
| countri | regim approach crisi manag differ | countri | capit market develop also import |
| market | crisi manag differ countri capit | market | develop also import relat size |
| also | differ countri capit market develop | also | import relat size economi eu |
| economi | develop also import relat size | economi | eu capit market much smaller |
| market | relat size economi eu capit | market | much smaller unit state may |
| growth | may cost eu term product | growth | evid financi system domin arm |
| market | system domin arm slength transact | market | less bank densiti greater disintermedi |
| market | slength transact tend characterist capit | market | bank economi develop capit market |
| economi | tend characterist capit market bank | economi | develop capit market tend flexibl |
| market | market bank economi develop capit | market | tend flexibl dynam therefor like |
| growth | therefor like experi higher product | growth | bankbas financi system integr equiti |
| market | bankbas financi system integr equiti | market | europ also remain incomplet research |
| also | system integr equiti market europ | also | remain incomplet research fund indic |
| countri | indic partial integr taken place | countri | often result divers invest rather |
| polici | way possibl combin marketbas public | polici | initi need encourag capit market |
| need | combin marketbas public polici initi | need | encourag capit market develop overcom |
| market | polici initi need encourag capit | market | develop overcom fragment imf adapt |
| global | overcom fragment imf adapt chang | global | economi let shift focus intern |
| economi | fragment imf adapt chang global | economi | let shift focus intern monetari |
| global | part broader chang caus financi | global | fund member includ european countri |
| countri | global fund member includ european | countri | need adapt exampl financi global |
| need | fund member includ european countri | need | adapt exampl financi global made |
| global | countri need adapt exampl financi | global | made possibl financ global econom |
| financ | exampl financi global made possibl | financ | global econom imbal scale previous |
| global | financi global made possibl financ | global | econom imbal scale previous unimagin |
| econom | global made possibl financ global | econom | imbal scale previous unimagin rang |
| countri | current account deficit eastern european | countri | financ western european bank global |
| financ | account deficit eastern european countri | financ | western european bank global imbal |
| global | countri financ western european bank | global | imbal unit state trade partner |
| global | trade partner europ major contributor | global | imbal affect global imbal adjust |
| global | major contributor global imbal affect | global | imbal adjust abrupt sharp contract |
| market | sharp contract u demand financi | market | disrupt europ would certain advers |
| also | would certain advers affect europ | also | help reduc global imbal structur |
| global | affect europ also help reduc | global | imbal structur reform discuss earlier |
| countri | reform discuss earlier interest european | countri | worth undertak sake also help |
| also | european countri worth undertak sake | also | help provid altern sourc demand |
| global | help provid altern sourc demand | global | economi alongsid action major player |
| economi | provid altern sourc demand global | economi | alongsid action major player help |
| global | player help produc order reduct | global | econom imbal among aspect financi |
| econom | help produc order reduct global | econom | imbal among aspect financi global |
| global | econom imbal among aspect financi | global | increas interconnected economi increas import |
| economi | aspect financi global increas interconnected | economi | increas import financi sector influenc |
| econom | increas import financi sector influenc | econom | condit mani countri fund adapt |
| countri | sector influenc econom condit mani | countri | fund adapt develop chang way |
| global | develop chang way conduct surveil | global | economi surveil mean monitor global |
| economi | chang way conduct surveil global | economi | surveil mean monitor global economi |
| global | global economi surveil mean monitor | global | economi fund discuss consult individu |
| economi | economi surveil mean monitor global | economi | fund discuss consult individu member |
| economi | fund discuss consult individu member | economi | increas attent pay spillov countri |
| countri | economi increas attent pay spillov | countri | effect one countri action trade |
| countri | pay spillov countri effect one | countri | action trade countri financi flow |
| countri | effect one countri action trade | countri | financi flow initi togeth number |
| economi | flow initi togeth number major | economi | multilater consult done manag global |
| global | economi multilater consult done manag | global | imbal also increas attent pay |
| also | consult done manag global imbal | also | increas attent pay financi market |
| market | also increas attent pay financi | market | financi sector issu broad examin |
| global | mandat correspond actual effect monitor | global | economi economi individu member chang |
| economi | correspond actual effect monitor global | economi | economi individu member chang need |
| economi | actual effect monitor global economi | economi | individu member chang need support |
| need | economi economi individu member chang | need | support member hope count support |
| countri | member hope count support european | countri | whose influenc fund great long |
| also | part broader mediumterm strategi fund | also | cover mani aspect work exampl |
| market | improv use imf support emerg | market | economi adapt prioriti crisi prevent |
| economi | use imf support emerg market | economi | adapt prioriti crisi prevent renew |
| countri | prevent renew commit help lowincom | countri | meet millennium develop goal improv |
| also | cooper other promot broader effort | also | reform way financ activ much |
| financ | broader effort also reform way | financ | activ much fund exist financ |
| financ | financ activ much fund exist | financ | public good surveil technic assist |
| countri | member larg interest incom loan | countri | borrow us move focus crisi |
| market | reform increas represent mani emerg | market | countri reflect increas weight global |
| countri | increas represent mani emerg market | countri | reflect increas weight global economi |
| global | market countri reflect increas weight | global | economi equal import member agre |
| economi | countri reflect increas weight global | economi | equal import member agre must |
| countri | must strengthen voic represent lowincom | countri | continu borrow fund limit share |
| countri | fund vote area support european | countri | crucial peopl suggest govern reform |
| global | undertak reduc influenc europ manag | global | economi reform zerosum game member |
| economi | reduc influenc europ manag global | economi | reform zerosum game member includ |
| countri | zerosum game member includ european | countri | benefit effect fund effect fund |
| global | maintain rekindl spirit multilater face | global | challeng percept speech end last |
| econom | institut defend open liber intern | econom | order point need intern institut |
| need | liber intern econom order point | need | intern institut increas global taken |
| global | point need intern institut increas | global | taken hold peopl standard live |
| econom | vein raghu rajan decemb fund | econom | counsellor point intern organ success |
| global | point great intern effort whether | global | institut like fund group nation |
| econom | union ever necessari tackl major | econom | challeng effort come fruition nation |
| polici | challeng face chanc shape intern | polici | futur successor found intern order |
| econom | occas take place hope moment | econom | growth subsaharan africa like exceed |
| growth | take place hope moment econom | growth | subsaharan africa like exceed percent |
| also | year row prospect next year | also | bright averag inflat contin exclud |
| countri | percent lowest quarter centuri mani | countri | fair wind back growth trade |
| growth | mani countri fair wind back | growth | trade partner around world strong |
| also | fund work togeth open center | also | exampl learn histori last two |
| countri | taken care look work lowincom | countri | around world listen donor told |
| countri | import listen govern peopl lowincom | countri | member told us reflect guidanc |
| countri | lesson learn experi work lowincom | countri | year learn technic assist valu |
| countri | close seek import respond quick | countri | need help imf region technic |
| need | seek import respond quick countri | need | help imf region technic assist |
| need | assist center reflect understand respond | need | also learn must countri ownership |
| also | center reflect understand respond need | also | learn must countri ownership technic |
| countri | respond need also learn must | countri | ownership technic assist agenda see |
| countri | afritac see financi support offer | countri | serv center activ particip countri |
| countri | countri serv center activ particip | countri | repres steer committe set work |
| countri | experi adapt way relat lowincom | countri | member clear goal agre intern |
| countri | agre intern communiti help lowincom | countri | meet millennium develop goal clear |
| market | process increas represent mani emerg | market | countri reflect increas weight global |
| countri | increas represent mani emerg market | countri | reflect increas weight global economi |
| global | market countri reflect increas weight | global | economi equal import governor agre |
| economi | countri reflect increas weight global | economi | equal import governor agre must |
| countri | must strengthen voic represent lowincom | countri | continu borrow fund limit share |
| econom | share member entitl equal regardless | econom | size also look way help |
| also | entitl equal regardless econom size | also | look way help voic lowincom |
| countri | look way help voic lowincom | countri | africa heard clear increas staff |
| countri | work execut director repres african | countri | also implement reform polici particular |
| also | execut director repres african countri | also | implement reform polici particular import |
| polici | african countri also implement reform | polici | particular import impact lowincom countri |
| countri | polici particular import impact lowincom | countri | novemb board agre chang fund |
| countri | continu improv effect help lowincom | countri | focus best task make greatest |
| countri | task core respons fund help | countri | design implement polici promot macroeconom |
| polici | fund help countri design implement | polici | promot macroeconom stabil prerequisit sustain |
| growth | promot macroeconom stabil prerequisit sustain | growth | poverti reduct lend activ advic |
| polici | technic assist main focus continu | polici | institut critic econom financi stabil |
| econom | focus continu polici institut critic | econom | financi stabil particular fiscal monetari |
| polici | particular fiscal monetari exchang rate | polici | emphasi work central afritac public |
| countri | continu make import contribut help | countri | reap benefit higher financi inflow |
| countri | aid privat capit flow help | countri | manag macroeconom effect higher inflow |
| countri | inflow use much possibl help | countri | develop capac manag public expenditur |
| countri | capac manag public expenditur help | countri | creat fiscal space need improv |
| need | help countri creat fiscal space | need | improv physic infrastructur expand social |
| need | fundsupport program mani year focus | need | safeguard povertyreduc spend especi educ |
| need | aid resourc must deliv huge | need | met lowincom countri make signific |
| countri | deliv huge need met lowincom | countri | make signific progress toward millennium |
| countri | far promis higher aid donor | countri | remain promis recent survey oecd |
| also | term crucial donor deliv promis | also | import provid earli predict commit |
| polici | project aid flow set macroeconom | polici | base project occasion actual aid |
| countri | debt relief debt owe poor | countri | combin expect debt relief ida |
| also | billion debt relief creat opportun | also | particular challeng lowincom countri fund |
| countri | opportun also particular challeng lowincom | countri | fund role help meet challeng |
| countri | fund role help meet challeng | countri | legitim interest use borrow space |
| countri | hardwon gain debt relief lost | countri | concern borrow financ expenditur improv |
| financ | relief lost countri concern borrow | financ | expenditur improv econom posit nobodi |
| econom | concern borrow financ expenditur improv | econom | posit nobodi want repeat experi |
| countri | excess build debt import develop | countri | potenti creditor whether offici privat |
| growth | debt sustain framework stronger basi | growth | project overoptimist growth project often |
| growth | stronger basi growth project overoptimist | growth | project often given countri fals |
| countri | overoptimist growth project often given | countri | fals comfort increas debt put |
| countri | creditor creditor borrow work borrow | countri | help use enhanc framework design |
| countri | play use role help lowincom | countri | generat sustain growth reduc poverti |
| growth | help lowincom countri generat sustain | growth | reduc poverti first financi sector |
| global | financi sector increas critic world | global | capit movement broad wellfunct financi |
| also | movement broad wellfunct financi system | also | crucial econom growth lowincom countri |
| econom | wellfunct financi system also crucial | econom | growth lowincom countri financi sector |
| growth | financi system also crucial econom | growth | lowincom countri financi sector underdevelop |
| countri | also crucial econom growth lowincom | countri | financi sector underdevelop formal financi |
| market | financi sector underdevelop formal financi | market | access unavail poor left inform |
| growth | cost financi sector develop promot | growth | reduc poverti remov credit constraint |
| countri | credit constraint poor prioriti lowincom | countri | fund reflect increas emphasi financi |
| market | emphasi financi sector financi capit | market | surveil let turn trade discuss |
| polici | let turn trade discuss trade | polici | recent month focus wto negoti |
| growth | trade bolster multilater agreement cornerston | growth | global economi mani year fundament |
| global | bolster multilater agreement cornerston growth | global | economi mani year fundament prospect |
| economi | multilater agreement cornerston growth global | economi | mani year fundament prospect lowincom |
| countri | mani year fundament prospect lowincom | countri | also keep mind benefit flow |
| also | year fundament prospect lowincom countri | also | keep mind benefit flow trade |
| countri | benefit flow trade reform develop | countri | regardless happen multilater discuss lowincom |
| countri | regardless happen multilater discuss lowincom | countri | benefit reform trade regim includ |
| growth | special increas return invest product | growth | within industri bad manag firm |
| market | eas entri new busi labor | market | flexibl clear enforc properti right |
| also | recogn institut issu import appear | also | import trade reform produc signific |
| countri | standard code train offici member | countri | import technic assist technic assist |
| countri | assist pillar fund support mani | countri | import need recogn need deploy |
| need | fund support mani countri import | need | recogn need deploy effici need |
| need | mani countri import need recogn | need | deploy effici need use well |
| need | need recogn need deploy effici | need | use well confid develop imf |
| countri | center show achiev donor develop | countri | fund work togeth partnership promot |
| growth | partnership promot strong institut rais | growth | improv live standard let conclud |
| countri | franc germani contribut financi beneficiari | countri | made substanti contribut especi govern |
Now we can examine the most frequent words used by IMF in their context in the table above. So far these were not really interesting, but we can use these methods for something a little more interesting, for example describing how IMF uses crisis framing. So to identify this, we will do three things, first when does IMF speaks of crisis, second in what context they use crisis and finally we will look at what is the most associated word with crisis.
imf_speech<- eu_speech %>%
corpus(docid_field = "doc_id",text_field = "texts") %>%
corpus_subset(speaker == "IMF") %>%
tokens() %>%
dfm() %>%
textstat_frequency(groups = date) %>%
filter(feature == "crisi")
imf_speech %>%
slice_max(order_by = frequency,n = 10) %>%
ggplot(aes(x = reorder(group,-frequency),y = frequency))+
geom_point(aes(size = (frequency/10)))+
theme_bw()+
theme(axis.text.x = element_text(angle = 45, hjust = 1, vjust =.9))+
labs(title = "frequency of crisis use by IMF",x = "speech date")
So it looks like IMF talks most about crisis in 2009, which unsurprising considering the 2009 economic crisis but their focus on crisis seems shift around a lot. Now lets see how in what context they use the word crisis
crisis_speeches<- imf_speech %>%slice_max(order_by = frequency, n = 10) %>% pull(group)
imf_crisis_kwic<- eu_speech %>%
corpus(docid_field = "doc_id", text_field = "texts") %>%
corpus_subset(speaker == "IMF" & date %in% crisis_speeches) %>%
tokens() %>%
kwic(x = .,pattern = "crisi",window = 3,valuetype = "fixed")
imf_crisis_kwic## Keyword-in-context with 412 matches.
## [_1191, 56] intern cooper recent | crisi |
## [_1191, 181] seen aftermath financi | crisi |
## [_1191, 260] year due global | crisi |
## [_1191, 333] backburn runup financi | crisi |
## [_1191, 373] fullfledg global financi | crisi |
## [_1191, 381] govern year lead | crisi |
## [_1191, 388] onslaught global financi | crisi |
## [_1191, 423] histori repeat shown | crisi |
## [_1191, 496] unit state financi | crisi |
## [_1191, 537] creat aftermath asian | crisi |
## [_1191, 543] past global financi | crisi |
## [_1191, 566] manag let good | crisi |
## [_1191, 602] govern reform sinc | crisi |
## [_1191, 630] strong initi stage | crisi |
## [_1191, 748] debt burden accumul | crisi |
## [_1191, 755] regul address origin | crisi |
## [_1191, 851] net mitig impact | crisi |
## [_1191, 945] govern reform sinc | crisi |
## [_1191, 961] govern reform memori | crisi |
## [_1191, 1042] place immedi aftermath | crisi |
## [_1191, 1386] system earli debt | crisi |
## [_1191, 1517] made initi phase | crisi |
## [_1191, 1534] coordin lot lose | crisi |
## [_1191, 1554] tend ralli time | crisi |
## [_1191, 1622] hard govern need | crisi |
## [_1201, 313] resili trauma asian | crisi |
## [_1201, 341] aftermath global financi | crisi |
## [_1201, 1166] economi recent financi | crisi |
## [_1201, 1169] crisi truli global | crisi |
## [_1201, 1300] also rais risk | crisi |
## [_1891, 140] bring closur global | crisi |
## [_1891, 231] step address immedi | crisi |
## [_1891, 277] resili face global | crisi |
## [_1891, 353] concret exampl financi | crisi |
## [_1891, 361] well prepar sure | crisi |
## [_1891, 389] declin sharpli aftermath | crisi |
## [_1891, 482] world well know | crisi |
## [_1891, 616] polici coordin respons | crisi |
## [_1891, 623] stimulus immedi wake | crisi |
## [_1891, 632] calam five year | crisi |
## [_1891, 673] decis broaden use | crisi |
## [_1891, 808] prepar revis textbook | crisi |
## [_1891, 989] meet need affect | crisi |
## [_1901, 100] system earli russian | crisi |
## [_1901, 105] recent global financi | crisi |
## [_1901, 154] easi ride russian | crisi |
## [_1901, 248] forese trigger scale | crisi |
## [_1901, 504] half offer imf | crisi |
## [_1901, 519] communism global financi | crisi |
## [_1901, 603] well financi knowhow | crisi |
## [_1901, 621] europ lie polici | crisi |
## [_1901, 624] crisi second stage | crisi |
## [_1901, 656] region expos eurozon | crisi |
## [_1901, 678] economi affect spillov | crisi |
## [_1901, 716] success intern cooper | crisi |
## [_1901, 816] brief histori transit | crisi |
## [_1901, 817] histori transit crisi | crisi |
## [_1901, 835] success never evid | crisi |
## [_2391, 141] current discuss financi | crisi |
## [_2391, 264] lose signific anoth | crisi |
## [_2391, 268] hit global financi | crisi |
## [_2391, 275] downturn given sever | crisi |
## [_2391, 287] system implic imf | crisi |
## [_2391, 308] appar initi nation | crisi |
## [_2391, 328] economi intertwin financi | crisi |
## [_2391, 351] import stabilis height | crisi |
## [_2391, 373] role imf first | crisi |
## [_2391, 384] role fight financi | crisi |
## [_2391, 391] regard sovereign debt | crisi |
## [_2391, 437] howev acknowledg current | crisi |
## [_2391, 458] object tackl root | crisi |
## [_2391, 470] enhanc imf capac | crisi |
## [_2391, 531] core problem financi | crisi |
## [_2391, 677] bank reaction system | crisi |
## [_2391, 723] swap line system | crisi |
## [_2391, 740] main lesson financi | crisi |
## [_2391, 934] resourc riski asset | crisi |
## [_2391, 989] proven effect recent | crisi |
## [_2391, 1031] central bank imf | crisi |
## [_2391, 1035] manag coordin everi | crisi |
## [_2391, 1039] differ need differ | crisi |
## [_2391, 1050] undoubt serious problem | crisi |
## [_2391, 1063] capit flow wake | crisi |
## [_2391, 1281] main point current | crisi |
## [_2391, 1288] necessari instrument manag | crisi |
## [_2391, 1328] serv input intern | crisi |
## [_2391, 1330] intern crisi prevent | crisi |
## [_2391, 1343] larg remain robust | crisi |
## [_2391, 1426] solut sovereign debt | crisi |
## [_2481, 155] downturn fiscal fallout | crisi |
## [_2481, 276] comprehens consist approach | crisi |
## [_2481, 1121] fiscal buffer erod | crisi |
## [_2491, 114] demonstr global financi | crisi |
## [_2491, 325] failur lead recent | crisi |
## [_2491, 336] major polici success | crisi |
## [_2491, 340] consid went wrong | crisi |
## [_2491, 368] real economi began | crisi |
## [_2491, 458] wake global financi | crisi |
## [_2491, 480] act togeth tackl | crisi |
## [_2491, 559] signific ground lost | crisi |
## [_2491, 632] mani advanc economi | crisi |
## [_2491, 642] averag group reflect | crisi |
## [_2491, 657] reflect factor predat | crisi |
## [_2491, 747] suffer downturn demand | crisi |
## [_2491, 981] economi weather worst | crisi |
## [_2491, 1017] imfth global financi | crisi |
## [_2491, 1074] import innov sinc | crisi |
## [_2491, 1188] linkag one contributor | crisi |
## [_2491, 1222] address need insurancelik | crisi |
## [_2491, 1278] net need strengthen | crisi |
## [_2491, 1335] short notic sinc | crisi |
## [_2491, 1474] econom fallout financi | crisi |
## [_2491, 1483] respons need deal | crisi |
## [_2491, 1518] need overcom global | crisi |
## [_2491, 2032] regul bring financi | crisi |
## [_2491, 2043] pillar clear lesson | crisi |
## [_2491, 2178] wake global financi | crisi |
## [_2491, 2194] bolster competit enhanc | crisi |
## [_2681, 55] key lesson recent | crisi |
## [_2681, 68] deriv format height | crisi |
## [_2681, 189] repres second phase | crisi |
## [_2681, 564] multilater process recent | crisi |
## [_2681, 645] time come although | crisi |
## [_2681, 673] key caus recent | crisi |
## [_2681, 699] market weak expos | crisi |
## [_2681, 960] stabil cours recent | crisi |
## [_2681, 970] facil particular imf | crisi |
## [_2681, 981] flexibl effect instrument | crisi |
## [_2681, 1080] net instanc global | crisi |
## [_2681, 1372] complex second phase | crisi |
## [_2681, 1382] underscor dramat fashion | crisi |
## [_2681, 1392] critic surviv phase | crisi |
## [_2691, 45] today last year | crisi |
## [_2691, 49] global economi also | crisi |
## [_2691, 72] half year begin | crisi |
## [_2691, 96] macroeconom polici second | crisi |
## [_2691, 108] increas challeng urgenc | crisi |
## [_2691, 131] econom perform came | crisi |
## [_2691, 147] deal asset price | crisi |
## [_2691, 234] say decad preced | crisi |
## [_2691, 244] macroeconom stabil tool | crisi |
## [_2691, 379] function credit market | crisi |
## [_2691, 393] signific risk build | crisi |
## [_2691, 456] mani may argu | crisi |
## [_2691, 492] intern polici cooper | crisi |
## [_2691, 506] clear present danger | crisi |
## [_2691, 556] net sum heat | crisi |
## [_2691, 569] complex countri recov | crisi |
## [_2691, 893] clear show worth | crisi |
## [_2691, 943] conclud reflect financi | crisi |
## [_2751, 16] last februari financi | crisi |
## [_2751, 21] threaten moment today | crisi |
## [_2751, 87] multilater surveil strengthen | crisi |
## [_2751, 125] could review experi | crisi |
## [_2751, 157] first reserv manag | crisi |
## [_2751, 161] way complic aid | crisi |
## [_2751, 171] word lesson draw | crisi |
## [_2751, 207] manag invest behavior | crisi |
## [_2751, 210] crisi procycl particular | crisi |
## [_2751, 239] global bank sector | crisi |
## [_2751, 333] loss heighten sens | crisi |
## [_2751, 371] rate associ onset | crisi |
## [_2751, 404] help highlight lesson | crisi |
## [_2751, 455] reserv level adequ | crisi |
## [_2751, 625] drain could materi | crisi |
## [_2751, 653] pursu macroeconom stimulus | crisi |
## [_2751, 706] concret lesson drawn | crisi |
## [_2751, 724] creation fund new | crisi |
## [_2761, 235] order resist global | crisi |
## [_2761, 290] output loss global | crisi |
## [_2761, 446] character respons onset | crisi |
## [_2761, 621] clear acut phase | crisi |
## [_2761, 660] challeng fact onset | crisi |
## [_2761, 954] stop experienc wake | crisi |
## [_2761, 1715] demonstr admir resili | crisi |
## [_2791, 7] like talk financi | crisi |
## [_2791, 92] power global financi | crisi |
## [_2791, 101] order today effect | crisi |
## [_2791, 130] sens global financi | crisi |
## [_2791, 167] exampl inequ eve | crisi |
## [_2791, 172] prior global financi | crisi |
## [_2791, 184] great recess onset | crisi |
## [_2791, 234] global govern renew | crisi |
## [_2791, 312] tackl global danger | crisi |
## [_2791, 321] awar error caus | crisi |
## [_2791, 355] play import role | crisi |
## [_2791, 374] two pillar supervis | crisi |
## [_2791, 399] experi reveal need | crisi |
## [_2791, 411] supervis creat effect | crisi |
## [_2791, 418] well lead next | crisi |
## [_2791, 429] econom govern wake | crisi |
## [_2791, 490] fund admit predict | crisi |
## [_2791, 575] first global respons | crisi |
## [_2791, 855] even though effect | crisi |
## [_2791, 859] far acut phase | crisi |
## [_2791, 1079] growth lost credibl | crisi |
## [_2791, 1094] minim even prevent | crisi |
## [_2791, 1149] loss next financi | crisi |
## [_2791, 1489] ground yet anoth | crisi |
## [_2791, 1500] real last lesson | crisi |
## [_3181, 230] factor behind current | crisi |
## [_3181, 232] current crisi time | crisi |
## [_3181, 331] financi system wake | crisi |
## [_3181, 371] system risk strengthen | crisi |
## [_3181, 718] financi system current | crisi |
## [_3181, 729] introduc follow asian | crisi |
## [_3181, 765] global less effect | crisi |
## [_3181, 891] differ experi recent | crisi |
## [_3181, 900] inevit global financi | crisi |
## [_3181, 1099] drawn right lesson | crisi |
## [_3181, 1156] anoth key lesson | crisi |
## [_3181, 1173] risk futur financi | crisi |
## [_3181, 1182] tell us next | crisi |
## [_3181, 1215] provid adequ measur | crisi |
## [_3181, 1220] addit stronger mean | crisi |
## [_3181, 1255] imf emcompass provid | crisi |
## [_3181, 1346] financi safeti net | crisi |
## [_3181, 1376] clear provid insurancelik | crisi |
## [_3181, 1458] stabil financi market | crisi |
## [_3181, 1460] market crisi tradit | crisi |
## [_3181, 1483] boost avail precautionari | crisi |
## [_3181, 1580] demonstr alreadi current | crisi |
## [_3181, 1724] conclud think agre | crisi |
## [_3181, 1746] asia cours epicent | crisi |
## [_3181, 1822] global coordin hallmark | crisi |
## [_3241, 33] today global financi | crisi |
## [_3241, 61] economi moreov cost | crisi |
## [_3241, 74] mani year overcom | crisi |
## [_3241, 97] interconnect emerg immedi | crisi |
## [_3241, 121] recent public lesson | crisi |
## [_3241, 228] polici decad preced | crisi |
## [_3241, 398] help sow seed | crisi |
## [_3241, 414] tail risk learn | crisi |
## [_3241, 416] learn crisi came | crisi |
## [_3241, 466] turn major global | crisi |
## [_3241, 467] major global crisi | crisi |
## [_3241, 507] may need reconsid | crisi |
## [_3241, 516] mani target fortun | crisi |
## [_3241, 524] instrument reach target | crisi |
## [_3241, 532] intern polici cooper | crisi |
## [_3241, 564] monetari polici even | crisi |
## [_3241, 577] deal asset price | crisi |
## [_3241, 651] monetari regulatori author | crisi |
## [_3241, 663] risk also handl | crisi |
## [_3241, 688] play role flexibl | crisi |
## [_3241, 838] lesson fiscal polici | crisi |
## [_3241, 884] stimulus key lesson | crisi |
## [_3241, 897] space fiscal stimulus | crisi |
## [_3241, 961] increas import wake | crisi |
## [_3241, 980] data help regard | crisi |
## [_3241, 1058] third key lesson | crisi |
## [_3241, 1065] intern polici cooper | crisi |
## [_3241, 1109] also contribut intern | crisi |
## [_3241, 1159] sustain year lead | crisi |
## [_3241, 1176] declin somewhat sinc | crisi |
## [_3241, 1246] beef supervis strengthen | crisi |
## [_3241, 1404] relat need better | crisi |
## [_3241, 1433] global liquid shortag | crisi |
## [_3241, 1476] draw lesson financi | crisi |
## [_3241, 1521] grow mani way | crisi |
## [_3441, 74] throw spotlight condit | crisi |
## [_3441, 91] monetari financi stabil | crisi |
## [_3441, 112] growth b past | crisi |
## [_3441, 123] let us recal | crisi |
## [_3441, 548] regul c present | crisi |
## [_3441, 551] crisi went wrong | crisi |
## [_3441, 564] polici factor caus | crisi |
## [_3441, 572] stabil clear gone | crisi |
## [_3441, 593] excel discuss caus | crisi |
## [_3441, 639] play lay groundwork | crisi |
## [_3441, 644] polici factor generat | crisi |
## [_3441, 657] decis ultim led | crisi |
## [_3441, 877] polici factor generat | crisi |
## [_3441, 977] monetari stabil kept | crisi |
## [_3441, 989] monetari financi stabil | crisi |
## [_3441, 1010] across advanc economi | crisi |
## [_3441, 1019] import way throughout | crisi |
## [_3441, 1069] increas rate midst | crisi |
## [_3441, 1151] diminish d futur | crisi |
## [_3441, 1174] public support provid | crisi |
## [_3441, 1285] earli phase present | crisi |
## [_3441, 1308] unconvent asset accumul | crisi |
## [_3441, 1376] amount public debt | crisi |
## [_3441, 1520] stabil last manner | crisi |
## [_3441, 1709] let look turn | crisi |
## [_3441, 1887] macroeconom impact current | crisi |
## [_3441, 2084] coordin prevent supervis | crisi |
## [_3441, 2134] recogn mani year | crisi |
## [_3441, 2229] one key lesson | crisi |
## [_3441, 2265] emerg ahead present | crisi |
## [_3441, 2376] one preced current | crisi |
## [_3441, 2393] prevent onset financi | crisi |
## [_3441, 2477] financi interact current | crisi |
## [_3441, 2816] sisyphus everi futur | crisi |
## [_3491, 15] lesson regul supervis | crisi |
## [_3491, 16] regul supervis crisi | crisi |
## [_3491, 25] countri direct affect | crisi |
## [_3491, 61] took place context | crisi |
## [_3491, 149] prevent crise learn | crisi |
## [_3491, 172] year often next | crisi |
## [_3491, 193] ago work strengthen | crisi |
## [_3491, 214] fast hit hard | crisi |
## [_3491, 301] govern direct affect | crisi |
## [_3491, 319] countri direct affect | crisi |
## [_3491, 330] polici action financi | crisi |
## [_3491, 421] measur taken address | crisi |
## [_3491, 430] twelv g affect | crisi |
## [_3491, 495] come year immedi | crisi |
## [_3491, 501] turn second phase | crisi |
## [_3491, 524] featur nation respons | crisi |
## [_3491, 646] financi institut yet | crisi |
## [_3491, 853] prevent countri agre | crisi |
## [_3491, 910] supervisionth virul spread | crisi |
## [_3491, 1120] balanc sheet result | crisi |
## [_3491, 1257] bigger process address | crisi |
## [_3491, 1497] achiev g initi | crisi |
## [_3491, 1510] enhanc regulatori supervisori | crisi |
## [_3491, 1694] need countri selfinsur | crisi |
## [_3491, 1788] stewardship emerg financi | crisi |
## [_3581, 53] difficult deal aftermath | crisi |
## [_3581, 57] year come terribl | crisi |
## [_3581, 159] opportun emerg financi | crisi |
## [_3581, 267] exagger damag inflict | crisi |
## [_3581, 305] extrem poverti account | crisi |
## [_3581, 336] damag caus financi | crisi |
## [_3581, 402] consequ famili communiti | crisi |
## [_3581, 460] labor forc unemploy | crisi |
## [_3581, 503] prepar eventu unwind | crisi |
## [_3581, 546] collabor critic resolv | crisi |
## [_3581, 567] avert much deeper | crisi |
## [_3581, 605] econom condit unlik | crisi |
## [_3581, 678] reform financi sphere | crisi |
## [_3581, 783] rein excess led | crisi |
## [_3581, 865] fiscal stimulus cushion | crisi |
## [_3581, 918] stem straightforward lesson | crisi |
## [_3581, 930] mani factor contribut | crisi |
## [_3581, 1144] bad name result | crisi |
## [_3581, 1172] relev lesson recent | crisi |
## [_3581, 1281] pump system respons | crisi |
## [_3581, 1319] result consolid occur | crisi |
## [_3581, 1586] financi need economi | crisi |
## [_3581, 1633] amount lent asian | crisi |
## [_3581, 1712] stabil market peak | crisi |
## [_3581, 1743] also conting activ | crisi |
## [_3581, 1756] uncertainti avail fund | crisi |
## [_3581, 1791] financi insur critic | crisi |
## [_3581, 1793] critic crisi resolut | crisi |
## [_3581, 1890] predict access imf | crisi |
## [_3621, 27] think move beyond | crisi |
## [_3621, 129] seen alreadi respons | crisi |
## [_3621, 135] concern third phase | crisi |
## [_3621, 189] caution decid exit | crisi |
## [_3621, 220] economi transit beyond | crisi |
## [_3621, 289] public privat sector | crisi |
## [_3621, 526] histori suggest financi | crisi |
## [_3621, 617] across contin financi | crisi |
## [_3621, 698] jeopard recoveri exit | crisi |
## [_3621, 774] time fiscal cost | crisi |
## [_3621, 981] still need done | crisi |
## [_3621, 1154] reformlet look beyond | crisi |
## [_3621, 1172] princip lesson financi | crisi |
## [_3621, 1219] institut measur improv | crisi |
## [_3621, 1240] address problem rais | crisi |
## [_3621, 1279] key lesson financi | crisi |
## [_3621, 1388] henc import factor | crisi |
## [_3621, 1393] financi sector emerg | crisi |
## [_3621, 1523] payment wake financi | crisi |
## [_3621, 1560] dollar actual strengthen | crisi |
## [_3621, 1691] prove resili recent | crisi |
## [_3621, 1738] expect rise wake | crisi |
## [_3621, 1973] economi transit beyond | crisi |
## [_3621, 2067] recent remark issu | crisi |
## [_3621, 2074] coordin essenti part | crisi |
## [_3621, 2087] abl keep onceinalifetim | crisi |
## [_3621, 2091] becom fullblown depress | crisi |
## [_3621, 2110] role global respons | crisi |
## [_3731, 82] first lay view | crisi |
## [_3731, 348] effect mean leav | crisi |
## [_3731, 460] countri narrow spread | crisi |
## [_3731, 672] role play present | crisi |
## [_3731, 694] lend boom subsequ | crisi |
## [_3731, 702] given hallmark present | crisi |
## [_3731, 727] failur sever institut | crisi |
## [_3731, 902] procycl aggrav current | crisi |
## [_3731, 1035] data across countri | crisi |
## [_3731, 1076] complex resolut cost | crisi |
## [_3731, 1192] one key lesson | crisi |
## [_3731, 1213] implement issu mind | crisi |
## [_3731, 1356] emerg ahead present | crisi |
## [_3731, 1545] develop better surveil | crisi |
## [_3731, 1751] sever examin lesson | crisi |
## [_3731, 1791] may wane emerg | crisi |
## [_3741, 13] issu polici coordin | crisi |
## [_3741, 39] happen often past | crisi |
## [_3741, 78] let give exampl | crisi |
## [_3741, 181] still learn financi | crisi |
## [_3741, 233] import coordin approach | crisi |
## [_3741, 253] search solut global | crisi |
## [_3741, 278] first line defens | crisi |
## [_3741, 280] defens crisi differ | crisi |
## [_3741, 312] neither consist coordin | crisi |
## [_3741, 354] widen elig collater | crisi |
## [_3741, 366] ever ground zero | crisi |
## [_3741, 512] fiscal polici coordinationthi | crisi |
## [_3741, 733] let talk littl | crisi |
## [_3741, 771] hard agre distribut | crisi |
## [_3741, 857] regul one lesson | crisi |
## [_3741, 1018] check whether follow | crisi |
## [_3741, 1030] rational better coordin | crisi |
## [_3741, 1135] polici cooper display | crisi |
## [_3741, 1249] point becom complac | crisi |
## [_3741, 1264] polici put place | crisi |
##
## differ crise lay
## final close talk
## growth rate past
## inde background high
## becam clear undersuppli
## crise opportunityf year
## econom govern remain
## often bring shortcom
## pave way creation
## similar situat past
## impos larg cost
## go wast quot
## broad split three
## instanc six major
## second global financi
## g member commit
## countri came togeth
## somewhat mix policymak
## sens urgenc remain
## result coordin fiscal
## collaps soviet union
## momentum reform polici
## much less effect
## time horizon short
## global approach need
## korea strengthen econom
## like everywher els
## truli global crisi
## requir truli global
## econom growth stabil
## yet clear horizon
## measur view go
## seen asia emerg
## touch asian shore
## hit asia hard
## quick rebound percent
## recogn border inde
## exampl major fiscal
## help avert far
## see cost absenc
## prevent might also
## resolut depend countri
## asia contribut fund
## final recent global
## strong institut built
## major setback earli
## program later surveil
## invest human capit
## collaps lehman brother
## abat fund drawn
## second stage crisi
## path aheadin late
## particular true countri
## intensifi second half
## includ reviv vienna
## crisi resolut institut
## resolut institut capac
## resolut would much
## catalyst changeth intern
## hit global financi
## follow sharp econom
## ask brought us
## certain alter extern
## might quick assum
## sever affect real
## wherea major advanc
## emphasis imf indispens
## global level also
## europ regard latter
## random event trace
## instead creat ever
## manag thorough assess
## money market liter
## swift adequ well
## imf well place
## need better regul
## countri would lower
## also convinc need
## manag coordin everi
## differ need differ
## manag manag capit
## recent howev anoth
## emerg market experienc
## devast certain warrant
## view recent experi
## prevent crisi manag
## manag regard organis
## howev larg intern
## would benefici nation
## need address recoveri
## manag euro area
## need rebuilt protect
## unpreced intern polici
## interlinkag give rise
## consid went wrong
## must includ failur
## subprim mortgag financ
## world last face
## result downturn last
## slow progress close
## led increas debttogdp
## depress tax revenu
## includ demograph pressur
## countri could even
## sinc great depress
## hold mani lesson
## introduc earli warn
## also pay attent
## prevent product introduc
## shortterm liquid provis
## imf commit billion
## g leader decid
## agre action plan
## agre massiv polici
## progress strengthen pillar
## resolut mechan need
## europ taken unpreced
## resolut mechan euro
## bolster prospect effect
## late g leader
## individu economi face
## provid sober demonstr
## gave rise threaten
## transact doubt continu
## broad benefici impact
## motiv substanti progress
## prevent arsenal strengthen
## unfold imf membership
## demonstr financi market
## shouldn forget need
## first phase cours
## also motiv creation
## global economi also
## economist great moder
## right time take
## highlight tremend benefit
## begin fade away
## breath new life
## ad number target
## come play second
## put countercycl fiscal
## taught us financi
## start rule aim
## failur regul supervis
## intern polici cooper
## spur leader coordin
## benefit cooper evid
## differ speed countri
## far academ literatur
## draw two import
## near threaten moment
## reced appropri draw
## prevent fund also
## area reserv manag
## way complic aid
## manag second level
## like demand reserv
## procycl particular crisi
## struck deposit commerci
## withdraw coincid collaps
## instabl highlight last
## still prevail today
## imf guidelin foreign
## lesson drawn recent
## loss reserv could
## therebi reduc risk
## well reaction analysi
## prevent facil augment
## despit face except
## help ensur precrisi
## fray serious would
## contrast recent headlin
## motiv creation new
## second perhap import
## bask bless excit
## chang global econom
## swept away much
## far situat europ
## trace bad govern
## back prior global
## shatter illus stabil
## clear link insuffici
## led g countri
## also prompt financi
## fsb togeth imf
## howev believ move
## resolut supervis may
## resolut tool littl
## resolut mechan could
## despit problem see
## govern role shore
## first gaug graviti
## occur earli octob
## far acut phase
## need cooper obvious
## show wrong also
## govern act greater
## hit matter must
## new growth model
## let make sure
## time crisi refocus
## refocus attent guard
## consensus form import
## resolut mechan addit
## strong perform owe
## latest result demonstr
## asia bank system
## howev countri immun
## inde bank regul
## name financi develop
## broad consensus need
## risk extinguish altogeth
## come unlik exact
## prevent addit stronger
## resolut inevit imf
## resolut insurancelik facil
## shown serv truli
## prevent facil world
## tradit crisi resolut
## resolut financ streamlin
## financ membership instanc
## european union lend
## present us histor
## financi system remain
## togeth deliv financi
## great recess follow
## lost growth high
## also laid bare
## respons period time
## macroeconom polici capit
## fiscal polici taken
## great moder led
## came crisi wake
## wake weak precrisi
## crisi start rule
## start rule aim
## also demonstr macroeconom
## also remind us
## also highlight critic
## unpreced cooper allow
## live debat whether
## ad number target
## learn separ two
## situat need think
## central bank extend
## place countercycl fiscal
## therefor build fiscal
## time mean fiscal
## mediumterm fiscal framework
## also remind us
## name critic import
## unfold quick becam
## respons ramp lend
## signific imbal countri
## like widen unless
## resolut mechan addit
## financ instrument someth
## introduc flexibl credit
## see two import
## valid origin mandat
## appear consist monetari
## final offer reflect
## thought went rightit
## happi thought monetari
## went wrong crisi
## shatter belief somehow
## financi polici factor
## monetari stabil kept
## main under factor
## financi polici factor
## answer clear yes
## made possibl inadequaci
## main factor answer
## one aspect think
## financi stabil clear
## also complic monetari
## monetari transmiss mechan
## highlight tension need
## monetari stabil kept
## mediumterm chang need
## fall second less
## loss could even
## like impli heavi
## shown financi stabil
## clear demonstr potenti
## promot rapid asset
## manag arrang supervis
## time come concret
## supervisor regul effect
## vari wide countri
## macroprudenti focus would
## least reduc impact
## brought clear imperfect
## begin uphil task
## crisi generat number
## generat number regulatori
## take number immedi
## affect countri region
## uniqu set characterist
## emerg sector region
## respons manag framework
## author region move
## public announc seri
## review exist framework
## tie three interrel
## contain facilit aggress
## respond form contain
## wane govern turn
## manag bank restructur
## earli unit kingdom
## manag framework remain
## manag arrang addit
## across globe rais
## go forward supervis
## countri result creation
## v conclud remarksat
## manag framework work
## build larg foreign
## thank
## year come terribl
## also provid us
## achiev fundament last
## asset market sold
## fortun global economi
## main risk next
## alreadi thrown million
## earnedincom tax credit
## support measur prepar
## critic achiev strong
## decis adopt coordin
## made sens stimulus
## demonstr clear financi
## g given imf
## howev recommend alway
## name financi stabil
## one key fail
## securit subprim loan
## financi develop emerg
## essenti lifelin financi
## new rule regul
## summit april g
## also made import
## temporari conting specif
## either clear loom
## financ new lend
## resolut crisi prevent
## prevent resourc base
## financ specif option
## global economi appear
## look ahead concern
## follow heel financi
## respons polici said
## first new sourc
## respons polici unwound
## may inflict longterm
## erupt mani eu
## measur soon said
## costcut reform area
## respons measuresi hearten
## respons measur regulatori
## name regul supervis
## manag also critic
## sure simpl task
## capit requir cannot
## worri financi sector
## busi usual mental
## concern current system
## view reflect dollar
## nearterm concern dollar
## heart recur sourc
## global growth appear
## shown intern polici
## respons thank concert
## becom fullblown depress
## also demonstr irreplac
## look ahead must
## unfold sinc help
## behind us sooner
## given way much
## less regul part
## third need better
## uncertainti qualiti bank
## let look turn
## promot rapid credit
## uniqu modern time
## time come concret
## supervisor regul effect
## illustr import supervis
## vari wide countri
## manag tool support
## expand regulatori perimet
## would detriment futur
## manag talk lot
## broke countri initi
## broke countri act
## evolv becam global
## manag macroeconom financi
## less financi sector
## differ crisi far
## far will go
## progress saw success
## deepen uncertainti continu
## fed particular fast
## taught us monetari
## expos clear fault
## resolut cost bad
## must avoid regulatori
## occur also broader
## manag give policymak
## impress whole countri
## yet likelihood test
## need firm planThis is more informative than simple frequencies but not really great since words are stemmed and it is hard to understand the sentences. So instead we can look at word associations by measuring word collocations.
imf_crisis_colloc<- eu_speech %>%
corpus(docid_field = "doc_id", text_field = "texts") %>%
corpus_subset(speaker == "IMF" & date %in% crisis_speeches) %>%
tokens() %>%
textstat_collocations() %>%
as.data.frame() %>%
filter(grepl(pattern = "crisi",x = collocation, fixed = T)) %>%
slice_max(order_by = count, n = 10)
imf_crisis_colloc %>%
ggplot(aes(x = collocation, y= count))+
geom_point()+
geom_text_repel(aes(label = collocation))+
theme_bw()+
theme(axis.text.x = element_blank(),axis.ticks.x = element_blank())
Looking at the collocations, we learn that IMF talks about crisis in mostly recuperative sense such as managing the crisis, resolving the crisis, responding to crisis and so on.
Now we know how IMF talks about crisis, lets take a look at which other EU leader talks about crisis and how. We will do this by taking the IMF as our baseline and compare the speeches of others to the way IMF talks about crisis. To do so we will rely on document similarity measures.
Another way of measuring word association is to measure the geometrical distance of other words to the word crisis. Lets quickly see how this can be done
similar_words<- textstat_simil(x = eu_speech_dfm,y = eu_speech_dfm[,"crisi"], margin = "features",method = "cosine")
similar_words_df<- data.frame(features = names(similar_words[,1]),
cosine_simil = similar_words[,1])
most_similar_words<- similar_words_df %>%
slice_max(order_by = cosine_simil, n = 10)
most_similar_words %>%
ggplot(aes(x = features, y= cosine_simil))+
geom_point(aes(size = cosine_simil))+
geom_text(aes(label = features),nudge_x = .5)+
theme_bw()+
theme(axis.text.x = element_blank(),axis.ticks.x = element_blank())+
labs(title = "Most similar words to crisis in IMF speeches",x = "", y = "cosine similarity")
Cosine similarity ranges between 0 and 1 where 0 means two elements are not similar at all while 1 is two elements are identical. Based on the graph above, we see that crisis and need are very similar in terms of frequency of use. Beyond that, we also observe a similar result from the previous analysis which shows that IMF uses the word crisis in a recuperative way as provide, and support are very similar in terms of frequency. textstat_simil() function offers a wide range of distance measures: correlation, cosine, jaccard, ejaccard, dice, edice, simple matching, and hamann. It is beyond the scope of this course to discuss the details of these measures but most commonly used ones are correlation and cosine similarity measures. One important thing to note with this method is what is going on. Similarity measures that uses document-feature matrix or tf-idf are not necessarily measuring the semantic similarity. They measure the similarity of words based on how frequently they are used in a document. Thus while it provides a sense of similarity between two words based on how frequently they are used in documents. There are methods which capture the semantic similarity such as word embeddings but we will not discuss them in this course.
Now that we have a sense of how IMF talks about crisis, how about we take a look at who else talks about crisis in a recuperative way like IMF. This is a task of measuring document similarity. There are a few key points to consider when we compare documents. First is the reference group, that is the baseline document. We compare all the documents based on a) their similarity to the reference document, b) their similarity to each other based on similarity between them and the reference document. Second thing to consider is what similarity measure we use. In last few examples we analyzed IMF’s speeches. Our analysis indicate that IMF has focused on the economic crisis the most in it’s speech on 04-09-2009. So we can take this as our baseline to exemplify a speech dealing with economic crisis, then we can scale all other speeches based on how similar they are to this document in terms of their content.
whole_corpus_dfm<- readRDS(file = here("euspeech","speech_data","EU_speech.RDS"))%>%
rownames_to_column(var = "doc_id") %>%
select(texts:speaker,doc_id,-title) %>%
corpus(docid_field = "doc_id", text_field = "texts") %>%
tokens() %>%
tokens_select(pattern = stopwords(language = "en"),selection = "remove",valuetype = "fixed") %>%
tokens_select(pattern = "[[:alnum:]]", selection = "keep", valuetype = "regex") %>%
tokens_wordstem(language = "en") %>%
dfm() %>%
dfm_group(groups = speaker)
document_simil<- textstat_simil(x = whole_corpus_dfm,y = whole_corpus_dfm["IMF",],margin = "documents",method = "correlation")
doc_simi_df<- data.frame(speakers = names(document_simil[,1]),
similarity = document_simil[,1]) %>%
filter(speakers != "IMF")
doc_simi_df %>%
ggplot(aes(x = speakers,y = similarity))+
geom_point()+
geom_text_repel(aes(label = speakers))+
theme_bw()+
theme(axis.text.x = element_blank(),axis.ticks.x = element_blank())+
labs(x = "Speakers", y= "Pearson's r", title = "Speakers similar to IMF")## Warning: ggrepel: 1 unlabeled data points (too many overlaps). Consider
## increasing max.overlaps
Results indicate that ECB is the other speaker who concerned with finances and economics as there is correlation above .8. Greek prime minister Antonis Samaras, on the other hand, paid the least attention to the issues of economy in his speeches. Lets turn our attention to the code for a second. Measuring document similarity is very similar to measuring word similarity, the main difference is we changed the unit of analysis. We do this by grouping the documents by speakers using the code dfm_group(groups = speakers). Another difference in this case is the way in which we measure the similarity. This time we used the correlation between word frequencies in the documents to compare them. This is however only to illustrate how to change the measurement method, we could also use cosine similarity.
1.2 Dictionary analysis:
So far we relied on simple frequencies and correlations in the dataset with minimal guidance. In essence, what we did was simply an over glorified “CTRL+F”. Dictionary analysis is a more targeted version of this. Recall that to identify how IMF talked about crisis, we used the keyword crisi. Dictionaries are nothing more than this practice but on steroids. We specify a set of keywords to indicate concept, then we look for the frequencies of these keywords in documents to make inferences.
Dictionaries are often domain specific, that is they are concerned with one subject. There are some pre-existing ones such as:
- [Lexicoder Policy Agenda](http://www.snsoroka.com/data-lexicoder/)
- [Gary-Laver Policy Position](https://provalisresearch.com/products/content-analysis-software/wordstat-dictionary/laver-garry-dictionary-of-policy-position/)
- [Moral Foundations dictionary](https://dataverse.harvard.edu/dataset.xhtml?persistentId=doi:10.7910/DVN/WJXCT8)
- [Pluralism dictionary] (https://dataverse.harvard.edu/dataset.xhtml?persistentId=doi:10.7910/DVN/AFTHMK)
- [Newsmap](https://github.com/quanteda/tutorials.quanteda.io/blob/master/content/dictionary/newsmap.yml)
- [Lexicoder sentiment dictionary] (https://quanteda.io/reference/data_dictionary_LSD2015.html)
- [Populism dictionary](https://www.tandfonline.com/doi/abs/10.1080/01402382.2011.616665)You can re purpose these dictionaries for your own analysis but also create your own dictionaries. The process of creating your own dictionary involves three steps. First, you need to identify some words to indicate the concept, for example to indicate positive sentiment: “good”,“fantastic”,“great”. The second step involves expanding your dictionary. This can be done by simply looking up synonyms or manually going over your data to find other words to indicate the concept. For example, we can include “better”, “greater”, “nice”, “lovely” to our dictionary to expand the positive sentiment list. Finally, you need to test and validate your dictionary. This phase ensures a) your dictionary is not populated by redundant words and b) it actually identifies the concept. For example, if we include “fantabulous” to our positive sentiment dictionary, there is a chance that it will be redundant because it is not a common words. In terms of validity consider these two sentences: “what a lovely weather” and “this is absolutely not good”. Since dictionary analysis is mainly looking up certain words and counting the frequencies, our hypothetical positive sentiment dictionary would say both sentences have positive sentiment. Yet, the second sentence is clearly not. So after validation, we learn that our dictionary should have “not good” in the negative sentiment section.
There are several ways to validate a dictionary but in essence they are all a form of comparing dictionary results to a gold standard. Gold standard is what we call a valid and accurate measurement. For example, if we want to validate the sentiment dictionary we need a set of labelled text to serve as a gold standard. You can create this by manually coding texts yourself, using crowd-sourcing, or an external validated dataset. Then you can compare the results of your dictionary and the gold standard using correlations, similarities and so on.
If dictionaries are purpose specific and rather finicky to create, why do we use them? There are a few advantage of dictionary analysis. First and foremost, it is simple. While creating dictionary is somewhat arduous, you have full control over the process and content. So you can account and document every step in a scientific analysis. Secondly, they are easy to use as we will see in the following paragraphs. They don’t require high computation power or intense statistical analysis. Lastly, they are very precise. This means that there won’t be too much stochastic error, they will identify the same words every time. For these reasons, dictionaries are often good tools in automated content analysis.
Lets take a look at two examples of how to use dictionaries. In this example, our task is two folds using EU speech data. First we will identify who is more populist among the EU leaders using populism dictionary. Then we will look analyze the sentiment in populist statements using Lexicoder sentiment dictionary.
populism_dictionary <- dictionary(list(populism = c("elit*", "consensus*", "undemocratic*", "referend*", "corrupt*", "propagand", "politici*", "*deceit*", "*deceiv*", "*betray*", "shame*", "scandal*", "truth*", "dishonest*", "establishm*", "ruling*"), liberalism = c("liber*", "free*", "indiv*", "open*", "law*", "rules", "order", "rights", "trade", "global", "inter*", "trans*", "minori*", "exchange", "market*")))
populism_dictionary## Dictionary object with 2 key entries.
## - [populism]:
## - elit*, consensus*, undemocratic*, referend*, corrupt*, propagand, politici*, *deceit*, *deceiv*, *betray*, shame*, scandal*, truth*, dishonest*, establishm*, ruling*
## - [liberalism]:
## - liber*, free*, indiv*, open*, law*, rules, order, rights, trade, global, inter*, trans*, minori*, exchange, market*eu_speech<- readRDS(file = here("euspeech","speech_data","EU_speech.RDS")) %>%
rownames_to_column(var = "doc_id") %>%
select(texts:speaker,doc_id,-title)
eu_corpus<- eu_speech %>%
corpus(docid_field = "doc_id",text_field = "texts")
eu_tokens<- eu_corpus %>%
tokens()
populism_dfm<- eu_tokens %>%
dfm() %>%
dfm_group(groups = speaker) %>%
dfm_lookup(dictionary = populism_dictionary, valuetype = "glob")
populism_measure<-populism_dfm %>%
dfm_weight(scheme = "prop")
populism_df<- populism_measure %>%
convert(to = "data.frame") %>%
rename(speaker = doc_id) %>%
select(speaker,populism)
populism_df %>%
ggplot(aes(x = reorder(speaker,populism), y= populism))+
geom_bar(aes(fill = populism), stat = "identity", position = "dodge")+
theme_bw()+
labs(title = "Populism score of EU leaders", x= "speaker")+
coord_flip()
Unsurprisingly, the most populist speaker in our dataset is Nigel Farage, followed by Francesco Sperni and Alexis Tsipras. All three leaders are notoriously populist while their left - right position is different. There are two things to note from these results. First is the range of populism. The lowest populist score is 0 and maximum is .32. This is because we measured the frequency of populist words proportional to all words in the document. This means about 30% of the speeches by Nigel Farage is populist words. There are other ways to measure this as well, for example we can obtain the raw frequencies by specifying scheme = "count"or on logarithmic scale by specifying scheme = logcount. Different weighting schemes alter the range of the indicator, so it is best not to look at the results of a dictionary analysis in absolute terms but (e.g. Nigel Farage is a populist politician) but in relative terms (e.g Nigel Farage is more populist than Francesco Speroni).
Now lets take a look at the sentiments of the populist statement by these leader. For this we will combine KWIC analysis with dictionary analysis. First we will identify populist statements by using populism dictionary in a KWIC analysis, then measure sentiments of these statements with lexicoder sentiment dictionary.
populist_words<- c("elit*", "consensus*", "undemocratic*", "referend*", "corrupt*", "propagand", "politici*", "*deceit*", "*deceiv*", "*betray*", "shame*", "scandal*", "truth*", "dishonest*", "establishm*", "ruling*")
eu_kwic<- eu_tokens %>%
kwic(pattern = populist_words,valuetype = "glob", window = 5)
eu_populist_corpus<- eu_kwic %>%
as.data.frame() %>%
mutate(populist_statements = paste0(pre,keyword,post)) %>%
mutate(statement_id = seq(1,nrow(.),by = 1)) %>%
mutate(doc_id = paste0(docname,"_",statement_id)) %>%
select(doc_id,docname,populist_statements) %>%
corpus(docid_field = "doc_id",text_field = "populist_statements")
eu_populist_tokens<- eu_populist_corpus %>%
tokens()
eu_populist_dfm<- eu_populist_tokens %>%
dfm() %>%
dfm_lookup(dictionary = data_dictionary_LSD2015,valuetype = "glob") %>%
dfm_group(groups = docname)
eu_populist_sentiment<- eu_populist_dfm %>%
dfm_weight(scheme = "prop") %>%
convert(to = "data.frame")
speakers<- eu_speech %>% select(doc_id,speaker)
eu_populist_sentiment<- left_join(eu_populist_sentiment, speakers, by = "doc_id")
eu_populist_sentiment<- eu_populist_sentiment %>%
group_by(speaker) %>%
summarise(negative_avg = mean(negative),
positive_avg = mean(positive),
overall_sentiment = (positive_avg - negative_avg))
eu_populist_sentiment %>%
ggplot(aes(x = reorder(speaker,overall_sentiment), y = overall_sentiment))+
geom_bar(aes(fill = overall_sentiment),stat = "identity",position = "dodge")+
theme_bw()+
labs(title = "Sentiment associated with populist statements by Western leaders",x = "Speakers")+
coord_flip()
Lets quickly summarize what we did in the code. First we identified set of 10 words around keywords by using KWIC method. Then changed our unit of analysis to these snippets rather than the whole speeches. We then did a sentiment analysis using Lexicoder Sentiment Dictionary on these snippets. Finally we grouped statements by speakers and calculated average sentiment associated with populist snippets. Overall, results indicate speakers like Tony Blair tend to speak populist concepts such as people with a positive overtone while such words come with a negative overtone for people like Donald Tusk and Nigel Farage.
1.3 Supervised machine learning with text as data:
What we have discussed so far is generally known as rule based analysis. The computer analyses documents based on the rules we provide. For example when we did populism analysis, we essentially told the computer that sentences that include these keywords are populist statements, no exceptions. Learning is however is rather different. We don’t tell computer what are the rules, it learn from the dataset based on what we provided. However, don’t let this confuse you. Machine learning is statistics. Things we learn in our stats courses such as OLS regression are now marketed as machine learning. The only difference between quantitative social science and machine learning is the purpose. When we do regression analysis in our paper we often seek to understand how different factors are related to a particular outcome. In a machine learning task, however, the purpose is prediction, so we care less about how much factor A is associated with the outcome B.
To analyze text with supervised machine learning we need two elements in our dataset. One or more outcome variable, labeled prior to training an algorithm and a set of features to predict this outcome. Then we feed this dataset to the algorithm to learn the correlations between features and outcome variable. In all machine learning tasks, we operate under two assumptions:
1) The outcome can be predicted with a given set of features
2) The dataset in use contains sufficient information on the relationship to make predictionsThus, analyzing text data with machine learning can only be successful if these assumptions are correct. If you are having problems with the task at hand, there are a few things we can do while training the algorithm but there is always a chance that one or both of these assumptions might be false. In that case we need to go back to the research design and re-evaluate.
So what do we mean when we say analyzing texts with supervised machine learning? Switching to the machine learning jargon, two most common tasks are regression and classification. Regression is generally predicting a continuous outcome set of outcomes a set of features. Classification, on the other hand, classifying entities into groups using a set of features. There are dozens, if not hundreds, of different algorithms we can use to accomplish these tasks. It would take forever to go through all of them in-depth, so we will only focus on a few common ones. You can check out this page to see all available models in R. We will also use EU speech and the topic of populism to illustrate them. We will mainly use caretand quanteda packages for these purposes.
1.3.1 Regression:
Three most common regression models used in machine learning are linear regression, ridge regression and generalized linear regression. All of these models build on the basic Ordinary Least Squares (OLS). We need three elements in training algorithms, a training data, a test data and optimization metric. Combination of these enables us to train an algorithm. Lets see how we train them first, then we will discuss them in detail.
eu_speech_populism<- readRDS(file = here("euspeech","speech_data","EU_speech_populism_cont.RDS"))
eu_text_corpus<- eu_speech_populism %>%
select(doc_id,speaker,texts) %>%
corpus(docid_field = "doc_id",text_field = "texts")
eu_text_tokens<- eu_text_corpus %>%
tokens()
eu_text_tfidf<- eu_text_tokens %>%
dfm() %>%
dfm_trim(min_docfreq = .2, docfreq_type = "prop") %>%
dfm_tfidf(scheme_tf = "count") %>%
convert(to = "data.frame")
eu_regression_vocabulary<- colnames(eu_text_tfidf)[-1]
eu_regression_replacement<- paste0("V_",seq.int(1,length(eu_regression_vocabulary),by = 1))
names(eu_regression_vocabulary)<- eu_regression_replacement
head(eu_regression_vocabulary)## V_1 V_2 V_3 V_4 V_5 V_6
## "today" "like" "chang" "european" "council" "would"colnames(eu_text_tfidf)<- c("doc_id",eu_regression_replacement)
regression_data<-eu_speech_populism %>%
select(doc_id,speaker,populism) %>%
left_join(.,eu_text_tfidf,by = "doc_id")
head(regression_data)## doc_id speaker populism V_1 V_2 V_3 V_4
## 1 Verhofstadt_1 Guy Verhofstadt 0 0.2805256 0.572209 0.2567796 0.5815354
## 2 Verhofstadt_2 Guy Verhofstadt 0 0.0000000 0.000000 0.0000000 0.1661530
## 3 Verhofstadt_4 Guy Verhofstadt 0 0.0000000 0.000000 0.0000000 0.1661530
## 4 Verhofstadt_5 Guy Verhofstadt 0 0.0000000 0.000000 0.0000000 0.0000000
## 5 Verhofstadt_6 Guy Verhofstadt 0 0.0000000 0.000000 0.0000000 0.6646118
## 6 Verhofstadt_7 Guy Verhofstadt 0 0.1402628 0.000000 0.2567796 0.3323059
## V_5 V_6 V_7 V_8 V_9 V_10 V_11
## 1 1.426408 0.2379751 0.6492598 0.9061761 0.4632461 0.6067144 0.2488153
## 2 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.2488153
## 3 1.426408 0.1189876 0.0000000 0.3020587 0.2316230 0.4044763 0.0000000
## 4 0.000000 0.3569627 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 5 2.496213 0.0000000 0.0000000 0.4530881 0.4632461 0.4044763 0.0000000
## 6 1.069806 0.0000000 0.1298520 0.3020587 0.6948691 0.2022381 0.0000000
## V_12 V_13 V_14 V_15 V_16 V_17 V_18
## 1 0.2097291 0.3234607 0.3428538 0.6315936 0.8850281 1.0547747 0.8672102
## 2 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.0000000 0.6469214 0.0000000 0.0000000 0.0000000 1.5821620 0.0000000
## 4 0.0000000 0.3234607 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 5 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.5273873 0.0000000
## 6 0.0000000 0.0000000 0.3428538 0.2105312 0.0000000 0.0000000 0.0000000
## V_19 V_20 V_21 V_22 V_23 V_24 V_25 V_26
## 1 0.3163053 1.084093 0.4352858 0.5085324 0.5395708 0.4405482 0.3853055 1.181875
## 2 0.0000000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.000000
## 3 0.0000000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.000000
## 4 0.3163053 1.084093 0.0000000 0.0000000 0.0000000 0.4405482 0.0000000 0.000000
## 5 0.0000000 1.445457 0.2176429 0.0000000 0.0000000 0.0000000 0.0000000 0.000000
## 6 0.3163053 0.000000 0.2176429 0.0000000 0.0000000 0.2202741 0.0000000 0.000000
## V_27 V_28 V_29 V_30 V_31 V_32 V_33
## 1 0.352789 0.3812933 0.4758591 0.6448181 0.2823995 0.3886631 0.2672388
## 2 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 4 0.000000 0.0000000 0.4758591 0.0000000 0.0000000 0.3886631 0.0000000
## 5 0.000000 0.7625866 0.7137887 0.0000000 0.0000000 0.0000000 0.0000000
## 6 0.000000 0.0000000 0.2379296 0.0000000 0.2823995 0.0000000 0.5344777
## V_34 V_35 V_36 V_37 V_38 V_39 V_40
## 1 0.1792281 0.4651449 1.256001 0.2337352 0.3366759 0.3116479 0.6881999
## 2 0.0000000 0.0000000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.0000000 0.0000000 1.256001 0.0000000 0.0000000 0.0000000 0.0000000
## 4 0.0000000 0.1550483 0.000000 0.0000000 0.3366759 0.3116479 0.3440999
## 5 0.3584562 0.4651449 0.000000 0.4674704 0.0000000 0.0000000 0.0000000
## 6 0.1792281 0.1550483 3.140003 0.0000000 0.0000000 0.0000000 0.0000000
## V_41 V_42 V_43 V_44 V_45 V_46 V_47 V_48
## 1 0.6799712 0.5865931 0.5121925 0.60807 0.1523816 0.2723660 0.1805642 0.3336958
## 2 0.0000000 0.0000000 0.0000000 0.00000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.6799712 0.3519559 0.0000000 0.00000 0.0000000 0.0000000 0.0000000 0.0000000
## 4 0.3399856 0.2346372 0.0000000 0.00000 0.0000000 0.2723660 0.0000000 0.0000000
## 5 0.0000000 0.2346372 1.5365775 0.00000 0.6095264 0.5447321 0.0000000 0.0000000
## 6 0.0000000 0.1173186 0.0000000 0.60807 0.0000000 0.0000000 0.0000000 0.0000000
## V_49 V_50 V_51 V_52 V_53 V_54 V_55
## 1 0.5396932 0.6506244 0.6173353 0.9087175 0.4666533 0.385134 0.1636111
## 2 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.000000 0.0000000
## 3 0.5396932 0.0000000 0.0000000 0.3029058 0.0000000 0.000000 0.0000000
## 4 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.000000 0.3272222
## 5 0.0000000 0.0000000 0.0000000 0.9087175 0.4666533 0.000000 0.3272222
## 6 1.0793863 0.0000000 0.6173353 0.0000000 0.4666533 0.000000 0.4908334
## V_56 V_57 V_58 V_59 V_60 V_61 V_62
## 1 0.2249915 0.2305408 0.3815483 0.8571091 0.2912866 0.4747966 0.4118274
## 2 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.0000000 0.0000000 0.0000000 0.8571091 0.0000000 0.0000000 0.0000000
## 4 0.0000000 0.2305408 0.0000000 0.4285546 0.0000000 0.9495931 0.0000000
## 5 0.0000000 0.0000000 0.3815483 0.0000000 0.5825733 0.0000000 0.0000000
## 6 0.0000000 0.2305408 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## V_63 V_64 V_65 V_66 V_67 V_68 V_69
## 1 1.1417812 0.9848662 0.2708479 0.3453497 1.074505 0.6866787 0.5175086
## 2 0.0000000 0.0000000 0.0000000 0.0000000 0.000000 0.0000000 0.0000000
## 3 0.0000000 0.0000000 0.0000000 0.0000000 0.000000 0.0000000 0.0000000
## 4 0.0000000 0.0000000 0.0000000 0.0000000 0.000000 0.0000000 0.0000000
## 5 0.5708906 0.4924331 0.0000000 0.0000000 0.000000 0.0000000 0.0000000
## 6 0.0000000 0.0000000 0.0000000 0.3453497 2.149011 0.0000000 0.0000000
## V_70 V_71 V_72 V_73 V_74 V_75 V_76 V_77
## 1 0.6595628 0.3806989 0.5298925 0.30977 0.4777574 0.4029842 0.3988946 0.3488841
## 2 0.0000000 0.0000000 0.0000000 0.00000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.0000000 0.0000000 0.0000000 0.00000 0.0000000 0.0000000 0.0000000 1.7444205
## 4 0.0000000 0.0000000 0.5298925 0.00000 0.0000000 0.0000000 0.0000000 0.0000000
## 5 0.6595628 0.0000000 0.0000000 0.30977 0.4777574 0.4029842 0.0000000 0.0000000
## 6 0.0000000 0.0000000 0.0000000 0.00000 0.0000000 0.0000000 0.3988946 0.6977682
## V_78 V_79 V_80 V_81 V_82 V_83 V_84
## 1 0.4884999 0.3552394 0.3985408 0.6670452 0.4467415 0.3880585 0.0000000
## 2 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.6293973
## 3 0.4884999 0.3552394 0.3985408 0.0000000 0.0000000 0.0000000 0.0000000
## 4 0.4884999 0.3552394 0.0000000 0.0000000 0.0000000 0.3880585 0.0000000
## 5 0.0000000 0.0000000 0.7970816 0.6670452 0.0000000 0.0000000 0.0000000
## 6 0.0000000 0.7104787 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## V_85 V_86 V_87 V_88 V_89 V_90 V_91 V_92
## 1 0.0000000 0.000000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 2 0.5804622 0.697454 0.414938 0.6668812 0.4317878 0.4591679 0.2653479 0.3324031
## 3 0.0000000 0.000000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 4 0.0000000 0.000000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 5 0.0000000 0.000000 0.414938 0.0000000 0.4317878 0.0000000 0.0000000 0.0000000
## 6 0.0000000 0.000000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## V_93 V_94 V_95 V_96 V_97 V_98 V_99 V_100
## 1 0.000000 0.0000000 0.0000000 0.0000000 0.000000 0.000000 0.000000 0.0000000
## 2 0.447038 0.3699709 0.5489694 0.0000000 0.000000 0.000000 0.000000 0.0000000
## 3 0.000000 0.0000000 0.0000000 0.1459091 0.501976 2.129549 1.146263 0.5045641
## 4 0.000000 0.7399418 0.5489694 0.1459091 0.000000 0.000000 0.000000 0.0000000
## 5 1.341114 0.3699709 0.5489694 0.4377274 0.501976 0.000000 0.000000 0.5045641
## 6 0.000000 0.0000000 0.0000000 0.0000000 0.000000 1.277730 0.000000 0.0000000
## V_101 V_102 V_103 V_104 V_105 V_106 V_107
## 1 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 2 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 1.301881 0.6165184 0.4120098 0.3762246 0.9732861 0.9179293 0.4206683
## 4 0.000000 0.6165184 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 5 0.000000 0.3082592 0.0000000 0.3762246 0.0000000 0.0000000 0.4206683
## 6 0.000000 0.9247776 0.8240196 0.0000000 0.0000000 0.9179293 0.4206683
## V_108 V_109 V_110 V_111 V_112 V_113 V_114
## 1 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.000000
## 2 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.000000
## 3 0.6268026 0.5505976 0.5449873 0.2529057 0.3415336 0.3943175 0.375218
## 4 0.6268026 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.000000
## 5 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.000000
## 6 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.375218
## V_115 V_116 V_117 V_118 V_119 V_120 V_121 V_122
## 1 0.0000000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.000000 0.0000000
## 2 0.0000000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.000000 0.0000000
## 3 0.5647544 0.450014 0.5313306 0.4646926 0.7299002 0.2760848 1.087995 0.3995145
## 4 0.0000000 0.000000 0.0000000 0.0000000 0.3649501 0.2760848 0.000000 0.0000000
## 5 1.1295087 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.000000 0.0000000
## 6 0.0000000 0.000000 0.0000000 0.4646926 0.0000000 0.2760848 0.000000 0.0000000
## V_123 V_124 V_125 V_126 V_127 V_128 V_129 V_130
## 1 0.0000000 0.0000000 0.0000 0.00000000 0.0000000 0.0000000 0.0000000 0.0000000
## 2 0.0000000 0.0000000 0.0000 0.00000000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.4647956 0.2328891 1.0121 0.07330904 0.3112138 0.6820684 0.3737958 0.5997002
## 4 0.0000000 0.0000000 0.0000 0.07330904 0.0000000 0.0000000 0.0000000 0.0000000
## 5 0.4647956 0.2328891 0.0000 0.21992712 0.0000000 0.0000000 0.0000000 0.0000000
## 6 0.9295911 0.2328891 0.0000 0.14661808 0.0000000 0.0000000 0.0000000 0.0000000
## V_131 V_132 V_133 V_134 V_135 V_136 V_137
## 1 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 2 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.3081874 0.6711665 0.6673735 0.0000000 0.0000000 0.0000000 0.0000000
## 4 0.6163748 0.0000000 0.0000000 0.3991602 0.2042683 0.3703022 0.5581925
## 5 0.6163748 0.6711665 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 6 0.3081874 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## V_138 V_139 V_140 V_141 V_142 V_143 V_144 V_145
## 1 0.0000000 0.0000000 0.0000000 0.000000 0.000000 0.0000000 0.000000 0.0000000
## 2 0.0000000 0.0000000 0.0000000 0.000000 0.000000 0.0000000 0.000000 0.0000000
## 3 0.0000000 0.0000000 0.0000000 0.000000 0.000000 0.0000000 0.000000 0.0000000
## 4 0.8660608 0.8234725 0.9666206 0.886007 1.192961 0.4977335 1.987913 0.2917704
## 5 0.0000000 0.0000000 0.0000000 0.000000 0.000000 0.0000000 0.000000 0.0000000
## 6 1.2990912 0.0000000 0.0000000 0.000000 0.000000 0.0000000 0.000000 0.0000000
## V_146 V_147 V_148 V_149 V_150 V_151 V_152 V_153
## 1 0.0000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 2 0.0000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.0000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 4 4.3653 0.300148 0.6866787 0.3605534 0.3237583 0.1751387 0.5991385 0.2634652
## 5 1.4551 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.5269303
## 6 0.0000 0.000000 2.0600360 0.0000000 0.6475166 0.0000000 0.0000000 0.0000000
## V_154 V_155 V_156 V_157 V_158 V_159 V_160 V_161
## 1 0.000000 0.000000 0.0000000 0.000000 0.0000000 0.0000000 0.000000 0.0000000
## 2 0.000000 0.000000 0.0000000 0.000000 0.0000000 0.0000000 0.000000 0.0000000
## 3 0.000000 0.000000 0.0000000 0.000000 0.0000000 0.0000000 0.000000 0.0000000
## 4 0.886987 1.119885 0.4284598 0.104867 0.4173319 0.3842776 1.287456 0.3372898
## 5 0.000000 0.373295 0.0000000 0.104867 1.2519956 0.0000000 0.000000 0.0000000
## 6 0.000000 0.000000 0.0000000 0.000000 0.4173319 0.0000000 0.000000 0.0000000
## V_162 V_163 V_164 V_165 V_166 V_167 V_168 V_169
## 1 0.000000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 2 0.000000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.000000 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 4 0.484171 0.513573 0.4610017 0.3651138 0.6978061 0.4467415 0.2848424 0.1325272
## 5 0.000000 0.000000 0.0000000 0.0000000 2.0934183 0.0000000 0.0000000 0.2650544
## 6 0.000000 0.000000 0.0000000 0.0000000 1.3956122 0.0000000 0.0000000 0.0000000
## V_170 V_171 V_172 V_173 V_174 V_175 V_176 V_177
## 1 0.0000000 0.0000000 0.0000000 0.00000 0.000000 0.0000000 0.0000000 0.000000
## 2 0.0000000 0.0000000 0.0000000 0.00000 0.000000 0.0000000 0.0000000 0.000000
## 3 0.0000000 0.0000000 0.0000000 0.00000 0.000000 0.0000000 0.0000000 0.000000
## 4 0.0000000 0.0000000 0.0000000 0.00000 0.000000 0.0000000 0.0000000 0.000000
## 5 0.6451381 0.6049301 0.2411791 0.53531 1.178851 0.4044158 0.6082132 0.514265
## 6 0.0000000 0.0000000 0.0000000 0.00000 0.000000 0.0000000 0.0000000 0.000000
## V_178 V_179 V_180 V_181 V_182 V_183 V_184
## 1 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 2 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 4 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 5 0.576049 0.5556461 0.6434174 0.3051106 0.3640508 0.6834293 0.2826702
## 6 0.000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.2826702
## V_185 V_186 V_187 V_188 V_189 V_190 V_191
## 1 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 2 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 4 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 5 0.2378074 0.5073949 0.3029768 0.6920329 0.1476422 0.2215663 1.0876137
## 6 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.2719034
## V_192 V_193 V_194 V_195 V_196 V_197 V_198 V_199
## 1 0.0000000 0.0000000 0.000000 0.0000000 0.0000000 0.00000 0.0000000 0.0000000
## 2 0.0000000 0.0000000 0.000000 0.0000000 0.0000000 0.00000 0.0000000 0.0000000
## 3 0.0000000 0.0000000 0.000000 0.0000000 0.0000000 0.00000 0.0000000 0.0000000
## 4 0.0000000 0.0000000 0.000000 0.0000000 0.0000000 0.00000 0.0000000 0.0000000
## 5 0.6710009 0.2849104 0.256397 0.3768129 0.3366759 1.30283 0.3245778 0.5685966
## 6 0.0000000 0.0000000 0.000000 0.0000000 0.0000000 0.00000 0.0000000 0.0000000
## V_200 V_201 V_202 V_203 V_204 V_205 V_206
## 1 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 2 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 4 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 5 0.9100586 0.8800908 0.4910087 0.6793533 0.4870882 0.4262867 0.6949974
## 6 0.0000000 0.0000000 0.9820173 0.0000000 0.0000000 0.0000000 0.0000000
## V_207 V_208 V_209 V_210 V_211 V_212 V_213
## 1 0.0000000 0.0000000 0.0000000 0.000000 0.0000000 0.0000000 0.0000000
## 2 0.0000000 0.0000000 0.0000000 0.000000 0.0000000 0.0000000 0.0000000
## 3 0.0000000 0.0000000 0.0000000 0.000000 0.0000000 0.0000000 0.0000000
## 4 0.0000000 0.0000000 0.0000000 0.000000 0.0000000 0.0000000 0.0000000
## 5 0.6437282 0.4436033 0.5578096 0.221096 0.4294081 0.3929188 0.3734184
## 6 0.6437282 0.0000000 0.0000000 0.000000 0.0000000 0.0000000 0.0000000
## V_214 V_215 V_216 V_217 V_218 V_219 V_220 V_221
## 1 0.0000000 0.0000000 0.000000 0.0000000 0.000000 0.0000000 0.0000000 0.0000000
## 2 0.0000000 0.0000000 0.000000 0.0000000 0.000000 0.0000000 0.0000000 0.0000000
## 3 0.0000000 0.0000000 0.000000 0.0000000 0.000000 0.0000000 0.0000000 0.0000000
## 4 0.0000000 0.0000000 0.000000 0.0000000 0.000000 0.0000000 0.0000000 0.0000000
## 5 0.5673549 0.2055704 0.323089 0.5739253 0.336446 0.0000000 0.0000000 0.0000000
## 6 0.5673549 0.0000000 0.000000 0.0000000 0.000000 0.6897795 0.4727988 0.6470059
## V_222 V_223 V_224 V_225 V_226 V_227 V_228
## 1 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 2 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 3 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 4 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 5 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000
## 6 0.4986232 0.5472227 0.4589647 0.5517284 0.3064674 0.2344618 0.5245418
## V_229 V_230 V_231 V_232 V_233 V_234 V_235 V_236 V_237 V_238 V_239
## 1 0.0000000 0.0000000 0.0000000 0 0 0 0 0 0 0 0
## 2 0.0000000 0.0000000 0.0000000 0 0 0 0 0 0 0 0
## 3 0.0000000 0.0000000 0.0000000 0 0 0 0 0 0 0 0
## 4 0.0000000 0.0000000 0.0000000 0 0 0 0 0 0 0 0
## 5 0.0000000 0.0000000 0.0000000 0 0 0 0 0 0 0 0
## 6 0.6192417 0.4004015 0.2535384 0 0 0 0 0 0 0 0
## V_240 V_241 V_242 V_243 V_244 V_245 V_246 V_247 V_248 V_249 V_250 V_251 V_252
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_253 V_254 V_255 V_256 V_257 V_258 V_259 V_260 V_261 V_262 V_263 V_264 V_265
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_266 V_267 V_268 V_269 V_270 V_271 V_272 V_273 V_274 V_275 V_276 V_277 V_278
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_279 V_280 V_281 V_282 V_283 V_284 V_285 V_286 V_287 V_288 V_289 V_290 V_291
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_292 V_293 V_294 V_295 V_296 V_297 V_298 V_299 V_300 V_301 V_302 V_303 V_304
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_305 V_306 V_307 V_308 V_309 V_310 V_311 V_312 V_313 V_314 V_315 V_316 V_317
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_318 V_319 V_320 V_321 V_322 V_323 V_324 V_325 V_326 V_327 V_328 V_329 V_330
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_331 V_332 V_333 V_334 V_335 V_336 V_337 V_338 V_339 V_340 V_341 V_342 V_343
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_344 V_345 V_346 V_347 V_348 V_349 V_350 V_351 V_352 V_353 V_354 V_355 V_356
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_357 V_358 V_359 V_360 V_361 V_362 V_363 V_364 V_365 V_366 V_367 V_368 V_369
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_370 V_371 V_372 V_373 V_374 V_375 V_376 V_377 V_378 V_379 V_380 V_381 V_382
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_383 V_384 V_385 V_386 V_387 V_388 V_389 V_390 V_391 V_392 V_393 V_394 V_395
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_396 V_397 V_398 V_399 V_400 V_401 V_402 V_403 V_404 V_405 V_406 V_407 V_408
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_409 V_410 V_411 V_412 V_413 V_414 V_415 V_416 V_417 V_418 V_419 V_420 V_421
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_422 V_423 V_424 V_425 V_426 V_427 V_428 V_429 V_430 V_431 V_432 V_433 V_434
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_435 V_436 V_437 V_438 V_439 V_440 V_441 V_442 V_443 V_444 V_445 V_446 V_447
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_448 V_449 V_450 V_451 V_452 V_453 V_454 V_455 V_456 V_457 V_458 V_459 V_460
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_461 V_462 V_463 V_464 V_465 V_466 V_467 V_468 V_469 V_470 V_471 V_472 V_473
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_474 V_475 V_476 V_477 V_478 V_479 V_480 V_481 V_482 V_483 V_484 V_485 V_486
## 1 0 0 0 0 0 0 0 0 0 0 0 0 0
## 2 0 0 0 0 0 0 0 0 0 0 0 0 0
## 3 0 0 0 0 0 0 0 0 0 0 0 0 0
## 4 0 0 0 0 0 0 0 0 0 0 0 0 0
## 5 0 0 0 0 0 0 0 0 0 0 0 0 0
## 6 0 0 0 0 0 0 0 0 0 0 0 0 0
## V_487 V_488
## 1 0 0
## 2 0 0
## 3 0 0
## 4 0 0
## 5 0 0
## 6 0 0Lets quickly breakdown what we did. First, we load in the data that contains populism score. These are the same scores we obtained with dictionary analysis but we are using them as a toy example. We then trim the extremely common and extremely rare words out of the dataset. In this case, a word needs to occur minimum of 20% of the documents to be included in the predictor features. Then we converted the text to a tf - idf document feature matrix, these will serve as our predictors in our regression. We then replaced the column names with generic variable names. This is a heuristic I learned by experience. Keeping the native column names (i.e tokens) before modeling can cause two problems. First, it inflates the dataset size in the memory for some reason. Secondly, when you are working with unstructured texts such as social media, they often contain informative but hard to encode tokens such as emojis. This way we retain those in the dataset but prevent any problems due to weird column names down the line. Our dataset is now almost ready to use in a regression. There are however a few machine learning specific modifications we need to do before we can model the data.
library(caret)## Zorunlu paket yükleniyor: lattice##
## Attaching package: 'caret'## The following object is masked from 'package:purrr':
##
## liftregression_data_pp<- regression_data %>% select(-doc_id,-speaker)
trainIndex<- createDataPartition(y = regression_data$populism,p = .75,list = F)
training_data<- regression_data[trainIndex,]
test_data<- regression_data_pp[-trainIndex,]The last two preprocessing steps are scaling the data and creating train-test sets. Scaling is modifying the so that it ranges from 0 - 1 with mean of 0 and standard deviation of 1. You don’t necessarily have to do this but some models are quite sensitive to the range of indicators, so this way we put all indicators on the same range. Creating train-test set is another important step. There are two reasons why we do this. First, one of the biggest challenges of machine learning is something called overfitting. This means algorithm actually memorizes the patterns in the data to the point that it only looks for those patterns in the new data. So it would be not useful because it cannot generalize. The second reason is that algorithms tend perform better in the training data. By asking it to predict new observation points we are testing how useful it would be in the real world. Now that we have these things done, lets train an algorithm. We will focus on linear regression.
train_y<- training_data %>% select(populism) %>% mutate(populism = as.numeric(populism)) %>% pull(populism)
train_x<- training_data %>% select(V_1:V_488)
fit_control <- trainControl(method = "repeatedcv",
number = 2,
repeats = 2,
verboseIter = T)
linear_model<- train(x = train_x,
y = train_y,
method = "lm",
metric = "RMSE")
test_x<- test_data %>% select(-populism)
test_y<- test_data %>% select(populism)
model_prediction<- predict(linear_model,test_x)
MSE_results<- sum((model_prediction-test_y)^2)/(nrow(test_y)-2)
RMSE_result<- sqrt(MSE_results)
RMSE_result## [1] 0.1324411Lets break down the code train a linear regression. First we create two data sets, one containing only the outcome, the other one containing features. Then we specify the details of training procedures with trainControl(). method argument in the trainControl() specifies resampling method. We use resampling in training to minimize the posibility of overfitting. In this case, we use k-fold cross-validation re-sampling method. This means that we divide the train data into smaller pieces, hold one piece off and train the model on the rest and test the model on the piece we hold off. number argument indicate how many fold will be used in cross-validation. repeats argument specifies how many times cross validation will be repeated.
Once we declare how to train model, it is time to train it. train() function is the general function to train algorithms with caret package. First, we feed predictors for training with x argument and training outcome with y. Then we specify which algorithm will be trained, in this case a linear regression. Finally, we declare metric to evaluate the model performance. In this case, we choose mean squared error (MSE). Once the training is complete, then we need to test it’s generalization potential. We do this by providing features of testing data we set aside earlier. We tell the algorithm to predict the populism values based on the features. Finally, we compare algorithms predictions to the actual values of test outcome values by calculating mean squared error based on the difference between two. Smaller this value is better the model performance.
1.3.2 Classification
Now, we turn our attention to classification tasks. These tasks are generally concerned with assigning an observation to a group by estimating the probabilities for given set of features. Some of these algorithms such as logistic and probit regression may already be familiar to you. Training these algorithms are more or less the same with caret package. For this exercise, lets pretend that our speech dataset comes with a binary indicator of whether a speech is populist or not. Lets see how we train a classification algorithm. For this particular task we will use random forest algorithm
classification_data<- regression_data_pp %>%
mutate(populism_binary = ifelse(populism > mean(populism),1,0)) %>%
mutate(populism_binary = as.factor(populism_binary)) %>%
select(-populism)
classification_train_index<- createDataPartition(y = classification_data$populism_binary,p = .75,list = F)
classification_train<- classification_data[classification_train_index,]
classification_test<- classification_data[-classification_train_index,]We first create our hypothetical binary outcome data to use in classification. In this case, I simply choose to code those who scored above mean as populist. Obviously, this is not something that should be done lightly in a real life setting. Then convert our outcome variable from numeric to factor so that we can do classification. Finaly, we split the data-set into training and test sets just like we did in the regression example.
classification_train_x<- classification_train %>% select(V_1:V_488)
classification_train_y<- classification_train %>% pull(populism_binary)
classification_fit<- trainControl(method = "LGOCV",
number = 2,
p = .75,
search = "grid",
classProbs = F,
verboseIter = T)
random_forest<- train(x = classification_train_x,
y = classification_train_y,
method = "ranger",
metric = "Accuracy",
maximize = T,
trControl = classification_fit)test_y<- classification_test %>% pull(populism_binary)
test_x<- classification_test %>% select(V_1:V_488)
classification_prediction<- predict(random_forest, test_x, type = "raw")
confusion_matrix<- caret::confusionMatrix(data = classification_prediction,reference = test_y,positive = "1")
confusion_matrix$byClassThere are several metrics we can use to evaluate our classifier such as recall, precision, F1 and accuracy. All of them are concerned with how many of the true positives the model correctly identified as opposed to false positives and false negatives, the main difference is how they are calculated. Most common among these metrics are accuracy and F1. Both range from 0 to 1 where 0 means model performed completely poorly, and 1 means model performed perfectly.
Before we wrap up, there are a few things to talk about. First, the individual frequencies of categories matters a lot in classification tasks. Imagine a dataset with a binary indicator where 95% of the indicator is 0 and only 5% is 1. At that point, it is more rational to for to model to predict everything as 0 because then it would be mistaken only for the 5% of the data. This is called class imbalance. It starts be problematic when imbalance goes beyond 65%-45% distribution in binary. In categorical variables, your model will perform better for more frequent categories. In these cases, you may try ensemble models where you train multiple algorithms using only a portion of the features then make them vote on the outcome. Then you can select the outcome that most voted. Lastly, we have only covered the tip of the iceberg. There are many models out there, some for a very specific purpose, and some more general use. You can see all models on caret’s website.